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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 207]
Shrinking profitability in business surveys sounds warning
Wednesday, 4 July 2018, 5:20 pm | BusinessDesk
July 4 (BusinessDesk) - Storm clouds may be gathering for the upcoming corporate earnings season as business confidence hits a seven-year low and almost a third of companies said profits shrank in the June quarter. More >>
NZ has scope to accelerate infrastructure spending
Wednesday, 4 July 2018, 4:29 pm | BusinessDesk
July 4 (BusinessDesk) - New Zealand's government has a strong enough balance sheet to close the nation's infrastructure deficit sooner, which the International Monetary Fund says would generate long-term economic gains. More >>
NZ commodity prices fall 1% in June
Wednesday, 4 July 2018, 4:21 pm | BusinessDesk
July 4 (BusinessDesk) - New Zealand commodity prices fell in June, weighed by whole milk powder and beef prices but while the shine has come off New Zealand's goods terms of trade recently, they remain elevated by historical standards, said ANZ Bank ... More >>
Auckland median house price slips to $810,000 in June
Wednesday, 4 July 2018, 1:47 pm | BusinessDesk
July 4 (BusinessDesk) - Auckland's residential property market slowed in June, with fewer new listings and a slip in the median price, according to the city's largest realtor. More >>
NZ share trading volumes lift in June
Wednesday, 4 July 2018, 1:32 pm | BusinessDesk
July 4 (BusinessDesk) - The number of trades on the NZX continued to rise in June but the values fell as investors were jittery about the prospect of a global trade war. More >>
Morningstar lifts Ebos share value
Wednesday, 4 July 2018, 1:31 pm | BusinessDesk
July 4 (BusinessDesk) - Shares of Ebos Group earned an upgrade from Morningstar analyst Chris Kallos after the pharmaceutical and animal health products maker unexpectedly won a distribution deal from Australia's Chemist Warehouse. More >>
$180,000 cap on income and residence requirements
Wednesday, 4 July 2018, 12:56 pm | BusinessDesk
July 4 (BusinessDesk) - KiwiBuild home buyers will be required to live in their properties for at least three years and have an income cap of $180,000, according to criteria released today. More >>
Gentrack to sell $90M of shares in discounted offer
Wednesday, 4 July 2018, 12:36 pm | BusinessDesk
July 4 (BusinessDesk) - Gentrack Group will sell shares at a 12 percent discount to raise $90 million to repay bank debt used to fund a recent spate of acquisitions, leaving the door open for more merger and acquistion activity. More >>
NZ house values fall in 'buyer's market'
Wednesday, 4 July 2018, 12:24 pm | BusinessDesk
July 4 (BusinessDesk) - New Zealand house values fell in June in a slower market that Quotable Value says reflects restrictions placed on buyers by the central bank and government. More >>
NZ dollar rises from two-year low ahead of US holiday
Wednesday, 4 July 2018, 11:56 am | BusinessDesk
July 4 (BusinessDesk) - The New Zealand dollar rose from its lowest levels in more than two years ahead of the July 4 Independence Day Holiday in the US, amid ongoing trade squabbles between the US and China and comments from China that it aims for ... More >>
Dairy product prices drop for eighth time in 10 auctions
Wednesday, 4 July 2018, 10:32 am | BusinessDesk
July 4 (BusinessDesk) - Dairy product prices declined at the Global Dairy Trade auction, led by a larger-than-expected drop in whole milk powder, after Fonterra said an increase in its May production lifted its expectations for the season’s ... More >>
MARKET CLOSE: NZX 50 rises 1.2% to new record
Tuesday, 3 July 2018, 8:49 pm | BusinessDesk
July 3 (BusinessDesk) - New Zealand shares jumped to a record with Ebos Group hitting a fresh high while A2 Milk Co and Synlait Milk gained on news they plan to extend their supply contract. More >>
NZ dollar dips back below 67 US cents
Tuesday, 3 July 2018, 8:17 pm | BusinessDesk
July 3 (BusinessDesk) - The New Zealand dollar dipped back below 67 US cents after a dismal business confidence survey and eased against the Australian dollar after the Reserve Bank of Australia held rates at a record low 1.5 percent across the Tasman. More >>
No law change allowing easier sales of conservation land
Tuesday, 3 July 2018, 6:25 pm | BusinessDesk
Law change allowing easier sales of conservation land won't happen on my watch, Sage says More >>
NZAX-listed TruScreen says 1st-qtr sales topped all of 2018
Tuesday, 3 July 2018, 6:23 pm | BusinessDesk
NZAX-listed TruScreen says 1st-qtr sales topped all of 2018's $800,000; shares jump More >>
Global tension escalates ahead of Trump's China tariffs
Tuesday, 3 July 2018, 3:43 pm | BusinessDesk
July 3 (BusinessDesk) - A former top US diplomat foresees global trade tensions escalating this week as US President Donald Trump imposes the first of many threatened tariffs on China. More >>
Chorus shares seen as overvalued
Tuesday, 3 July 2018, 3:14 pm | BusinessDesk
July 3 (BusinessDesk) - Shares of Chorus are overvalued because the telecommunications network operator’s overall connections continue to decline, Morningstar analyst Brian Han wrote in a bearish note. More >>
NZ Post undergoing biggest-ever upheaval
Tuesday, 3 July 2018, 2:55 pm | BusinessDesk
July 3 (BusinessDesk) - New Zealand Post, the national postal service first established in 1840, is undergoing the biggest upheaval in its history as technological change reduces letter volumes and stokes demand for parcel services, which are often more ... More >>
Hg to buy Orion Health's Rhapsody for $205M
Tuesday, 3 July 2018, 1:15 pm | BusinessDesk
July 3 (BusinessDesk) - Orion Health Group said UK-based private equity firm Hg will acquire its Rhapsody business for $205 million and take a quarter stake in its Population Health unit for $20 million, leaving the New Zealand company in 100 percent control ... More >>
NZ business confidence hits 7-year low in June
Tuesday, 3 July 2018, 1:13 pm | BusinessDesk
July 3 (BusinessDesk) - New Zealand business confidence hit a seven-year low in June as cost pressures weigh on profitability and the downbeat sentiment is beginning to impact on future planning. More >>
