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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 209]
Fonterra: policy shouldn't reduce methane emissions to zero
Friday, 29 June 2018, 7:27 pm | BusinessDesk
June 29 (BusinessDesk) - Fonterra Cooperative Group said it supports a target aimed at mitigating and stabilising methane emissions, but not seeking to reduce them to zero, in its submission on the productivity commision draft report on transitioning ... More >>
WEL Networks seeks up to $150M in listed bond offer
Friday, 29 June 2018, 7:25 pm | BusinessDesk
WEL Networks seeks up to $150M in listed bond offer to repay bank debt By Paul McBeth More >>
Faafoi gets insolvency practitioner licensing moving
Friday, 29 June 2018, 7:23 pm | BusinessDesk
June 29 (BusinessDesk) - Commerce and Consumer Affairs Minister Kris Faafoi has put licensing insolvency practitioners back on the legislative agenda with a view for it to be it up and running next year. More >>
Smiths City takes $1.5M hit from Employment Court ruling
Friday, 29 June 2018, 3:54 pm | BusinessDesk
June 29 (BusinessDesk) - Smiths City Group took a $1.5 million charge on what it expects to reimburse underpaid staff following this year's Employment Court ruling that employees should've been paid for attending sales meetings, adding to a bigger ... More >>
High Court backs kiwifruit growers in $400M PSA claim
Friday, 29 June 2018, 3:30 pm | BusinessDesk
June 29 (BusinessDesk) - The High Court has backed New Zealand kiwifruit growers' claims that the government was negligent in allowing Psa, the virus which devastated the industry, into the country. More >>
NZ Super Fund takes 27% stake in fruit & veg firm NZ Gourmet
Friday, 29 June 2018, 3:12 pm | BusinessDesk
June 29 (BusinessDesk) - The New Zealand Superannuation Fund has taken a 27 percent stake in international fresh fruit and vegetable grower and marketer NZ Gourmet for an undisclosed price. More >>
Auckland residential building consents hit 15-year high
Friday, 29 June 2018, 2:26 pm | BusinessDesk
June 29 (BusinessDesk) - Auckland, which is suffering from a shortage of housing, saw the number of residential building consents hit the highest level in 15 years in May, according to the latest data. More >>
Employment confidence rises while consumer confidence dips
Friday, 29 June 2018, 2:14 pm | BusinessDesk
June 29 (BusinessDesk) - New Zealand employment confidence rose while consumer confidence dipped as signs of slowing economic growth weighed on the outlook, according to two recent surveys by Westpac Banking Corp and ANZ. More >>
NZ Refining hydrocracker leak to cut profit by up to $7m
Friday, 29 June 2018, 1:37 pm | BusinessDesk
June 29 (BusinessDesk) - New Zealand Refining's hydrocracker shutdown will cost it between $5 million and $7 million, with the machinery out of service until the middle of next week. More >>
Fletcher sells stake in metal recycling JV for $42M
Friday, 29 June 2018, 1:21 pm | BusinessDesk
Fletcher sells stake in metal recycling JV for $42M as it sheds non-core assets By Sophie Boot More >>
Precinct Properties to sell half-stake in ANZ Centre
Friday, 29 June 2018, 1:16 pm | BusinessDesk
June 29 (BusinessDesk) - Precinct Properties New Zealand has signed a binding deal to sell its 50 percent stake in ANZ Centre in downtown Auckland to a fund managed by US investment firm Invesco for $181 million, in line with the building's current ... More >>
CentrePort resumes dividend payments as it bounces back
Friday, 29 June 2018, 1:14 pm | BusinessDesk
June 29 (BusinessDesk) - CentrePort has resumed dividend payments to its regional council shareholders as the Wellington port operator bounces back from the impact of the November 2016 Kaikoura earthquake, which was the biggest adverse event in ... More >>
Gentrack's 'significant progress' towards new contracts
Friday, 29 June 2018, 1:13 pm | BusinessDesk
June 29 (BusinessDesk) - Gentrack Group, an Auckland-based software developer for utilities and airports, said it has made “significant progress towards several new customer wins” in the US and Australia that will contribute to its fiscal 2019 ... More >>
NZ dollar extends decline, hitting new 2-yr low
Friday, 29 June 2018, 11:34 am | BusinessDesk
June 29 (BusinessDesk) - The New Zealand dollar extended its decline, hitting a new two-year low, as investors started pricing in an outside chance the Reserve Bank may cut interest rates, adding to the negative sentiment for the currency. More >>
PSA negligence decision due tomorrow has ramifications
Thursday, 28 June 2018, 9:52 pm | BusinessDesk
June 28 (BusinessDesk) - On the eve of a decision in one of the biggest class actions in New Zealand - the kiwifruit growers case against the government over the devastating 2010 outbreak of the PSA disease - the company funding the case says the playing ... More >>
MARKET CLOSE: NZ shares up; Comvita and Kathmandu rally
Thursday, 28 June 2018, 8:43 pm | BusinessDesk
June 28 (BusinessDesk) - New Zealand shares rose, led higher by Comvita and Kathmandu Holdings, while Fisher and Paykel Healthcare Corp and Trade Me Group fell. More >>
NZ dollar touches fresh 2-year low
Thursday, 28 June 2018, 8:19 pm | BusinessDesk
NZ dollar touches fresh 2-year low as market begins to price in rate cut More >>
Synlait commits to shrinking environmental footprint
Thursday, 28 June 2018, 8:17 pm | BusinessDesk
June 28 (BusinessDesk) - Synlait Milk has committed to significantly reducing its environmental impact over the next decade. The plan includes reducing greenhouse gas production and water consumption, moving away from coal-fired boilers, and offering ... More >>
AWF Madison says law will suppress innovative employment
Thursday, 28 June 2018, 7:15 pm | BusinessDesk
June 28 (BusinessDesk) - AWF Madison Group, the country's biggest contract labour firm, says government proposals to strengthen the rights of part-time, temporary and contract workers could stymie innovation in the labour market. More >>
OceanaGold confident it has community support to expand
Thursday, 28 June 2018, 6:54 pm | BusinessDesk
June 28 (BusinessDesk) - OceanaGold Corp is confident it has community support to expand its Waihi operations, where it accounts for almost half the local economic activity, after drilling signalled enough gold to sustain operations out to 2030. More >>
