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BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 201]
ComCom concerned about Christchurch Airport planned profits
Thursday, 19 July 2018, 12:56 pm | BusinessDesk
July 19 (BusinessDesk) - The Commerce Commission says Christchurch International Airport may be planning to make excessive profits from security, freight storage, and some terminal lounges, though it's "broadly satisfied" with its planned earnings ... More >>
NZ’s Parker to attend Pacific Alliance Summit
Thursday, 19 July 2018, 12:31 pm | BusinessDesk
July 19 (BusinessDesk) - New Zealand Trade and Export Growth Minister David Parker said he will hold talks with his Pacific Alliance counterparts in Mexico next week to “seek further progress” on a free trade agreement with the four-nation trade ... More >>
Provincial growth to outshine the cities in 2019
Thursday, 19 July 2018, 11:50 am | BusinessDesk
July 19 (BusinessDesk) - Infometrics says strong growth in major exporting regions will help underpin the country’s economic growth during 2019. More >>
NZ dollar recovers as Fed's remains upbeat
Thursday, 19 July 2018, 11:49 am | BusinessDesk
July 19 (BusinessDesk) - The New Zealand dollar gained as Federal Reserve Jerome Powell continued to deliver an upbeat assessment of the world's biggest economy in his second day of testimony, while US trade relations were also in view. More >>
MARKET CLOSE: NZ shares drop on Z downgrade
Wednesday, 18 July 2018, 8:35 pm | BusinessDesk
July 18 (BusinessDesk) - New Zealand shares fell, led by Z Energy following an earnings downgrade, with Ryman Healthcare and NZX also declining. More >>
NZ Refining granted consents to dredge Whangarei Harbour
Wednesday, 18 July 2018, 8:33 pm | BusinessDesk
July 18 (BusinessDesk) - New Zealand Refining has been granted resource consent to dredge Whangarei Harbour by the Northland Regional Council, something it says will let larger crude cargoes of around 1 million barrels to be shipped to Marsden Point. More >>
NZ dollar extends decline as greenback benefits
Wednesday, 18 July 2018, 8:23 pm | BusinessDesk
July 18 (BusinessDesk) - The New Zealand dollar fell in Asia after upbeat comments overnight from Federal Reserve chair Jerome Powell reinforced the view US rates will keep rising while domestic rates stay at a record low. More >>
Hawkins sale proceeds used to settle claim on major project
Wednesday, 18 July 2018, 8:20 pm | BusinessDesk
July 18 (BusinessDesk) - Funds from the sale of Hawkins Construction to Downer EDI were recycled back into the leftover businesses to settle a claim on a major project, wind down the remaining projects, and prepare for a growing number of legal disputes, ... More >>
BlueScope loses bid to toss out $506M claim
Wednesday, 18 July 2018, 8:19 pm | BusinessDesk
July 18 (BusinessDesk) - BlueScope Steel, the Glenbrook steel mill operator, has lost a bid to end or narrow a $506 million court action taken by the unsuccessful bidder for the Taharoa iron sands mine near Kawhia. More >>
FMA may act against financial services firms after review
Wednesday, 18 July 2018, 4:32 pm | BusinessDesk
July 18 (BusinessDesk) - The Financial Markets Authority may take regulatory action against three financial services firms after its latest probe into replacement life insurance. More >>
Mercury’s Waikato hydro pumps out most power since 1996
Wednesday, 18 July 2018, 3:35 pm | BusinessDesk
July 18 (BusinessDesk) - Production from the Waikato hydro scheme reached a 22-year high in the June year just ended. More >>
PGC's Torchlight Fund to pay departing investors A$25.5M
Wednesday, 18 July 2018, 3:11 pm | BusinessDesk
July 18 (BusinessDesk) - Pyne Gould Corp's Torchlight Fund has 30 months to make a fixed redemption payment of A$25.5 million after the firm announced a deal with unhappy investors who pursued the distressed asset investor through the Cayman Islands ... More >>
Kingfish's 3.1% stake in Fletcher Building paying off
Wednesday, 18 July 2018, 2:13 pm | BusinessDesk
July 18 (BusinessDesk) - Fletcher Building shares have gained about 14 percent since Kingfish took a 3.1 percent stake and the listed investment firm's manager remains upbeat on the stock. More >>
Z Energy cuts earnings guidance by $30M
Wednesday, 18 July 2018, 12:56 pm | BusinessDesk
July 18 (BusinessDesk) - Z Energy, the country’s biggest fuel retailer, has cut full-year earnings guidance by $30 million due to an extended shutdown at the Marsden Point oil refinery and high crude prices in the June quarter. More >>
Methanex signs NZ supply agreements for gas supply to 2029
Wednesday, 18 July 2018, 12:44 pm | BusinessDesk
July 18 (BusinessDesk) - Methanex New Zealand, the country's biggest gas user, says it has signed supply agreements for more than half its annual production for the next 11 years. More >>
NZ dollar falls from week-high
Wednesday, 18 July 2018, 11:30 am | BusinessDesk
July 18 (BusinessDesk) - The New Zealand dollar fell from a week-high after Federal Reserve chair Jerome Powell told legislators the central bank will continue to raise interest rates gradually with the world's biggest economy in good shape. More >>
NZ banking minnows expand lending more aggressively in March
Wednesday, 18 July 2018, 11:17 am | BusinessDesk
July 18 (BusinessDesk) - New Zealand's banking minnows loaned more aggressively in the first three months of the year, a period advisory firm KPMG noted as showing a deterioration in asset quality which contributed to smaller sector profit. More >>
Dairy product prices slip, declining for ninth time
Wednesday, 18 July 2018, 9:55 am | BusinessDesk
July 18 (BusinessDesk) - Dairy product prices fell at the Global Dairy Trade auction, as slides in rennet casein and butter outweighed a surprise gain in whole milk powder. More >>
MARKET CLOSE: NZ shares mixed, A2, Kathmandu weaken
Tuesday, 17 July 2018, 8:58 pm | BusinessDesk
July 17 (BusinessDesk) - New Zealand shares were mixed, with Kathmandu Holdings and A2 Milk dragging the index lower while defensive stocks such as Investore made gains amidst global uncertainty. More >>
NZ dollar gains after RBNZ's inflation gauge accelerates
Tuesday, 17 July 2018, 8:57 pm | BusinessDesk
July 17 (BusinessDesk) - The New Zealand dollar rose across the board after an inflation gauge published by the Reserve Bank accelerated at its fastest pace in seven years, easing concerns about a possible rate cut. More >>
