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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 217]
Little visibility on bankrupt builder who tried to flee
Thursday, 14 June 2018, 6:46 pm | BusinessDesk
Little visibility on bankrupt builder who tried to flee to China, gambled $20.5M at SkyCity More >>
Cimic to get lion's share of work in $750M Waikeria prison
Thursday, 14 June 2018, 6:33 pm | BusinessDesk
ASX-listed Cimic to get lion's share of work in $750M Waikeria prison build By Paul McBeth More >>
SeaDragon cornerstone shareholders keep company afloat
Thursday, 14 June 2018, 6:20 pm | BusinessDesk
June 14 (BusinessDesk) - SeaDragon has negotiated $6 million of new funding from its cornerstone shareholders and a new deal with Comvita that will allow it to meet immediate and medium-term cash flow requirements. More >>
Creswell gets green light to increase water bottling 1,825%
Thursday, 14 June 2018, 5:09 pm | BusinessDesk
June 14 (BusinessDesk) - The Whakatāne District Council and Bay of Plenty Regional Council gave Creswell New Zealand a green light to increase its water bottling capacity by 1,825 percent, a move that could create as many as 237 new jobs. More >>
TruScreen expects to reach profitability in 2019
Thursday, 14 June 2018, 3:57 pm | BusinessDesk
June 14 (BusinessDesk) - Cervical cancer technology company TruScreen expects to reach profitability in 2018 after reporting a wider net loss for the year ended March 31 on lower than expected sales and higher costs. More >>
Commission investigates purchase of Stevenson's unit
Thursday, 14 June 2018, 3:35 pm | BusinessDesk
June 14 (BusinessDesk) - The Commerce Commission has opened an investigation to determine whether Fulton Hogan's proposed acquisition of Stevenson Group construction materials business will lessen competition in any relevant market. More >>
Contact Energy names Rob McDonald as board chair
Thursday, 14 June 2018, 3:07 pm | BusinessDesk
June 14 (BusinessDesk) - Contact Energy chair Ralph Norris is stepping down from the board of New Zealand's largest electricity retailer having overseen a board refresh following the departure of majority owner Origin Energy. More >>
Woods defends government's ban on offshore gas exploration
Thursday, 14 June 2018, 2:56 pm | BusinessDesk
June 14 (BusinessDesk) - Energy and Resources Minister Megan Woods has defended the government’s decision not to issue new offshore oil and gas exploration permits despite it going against official advice, saying she didn’t think officials had ... More >>
NZ primary industry exports seen up 12% in year to June
Thursday, 14 June 2018, 2:43 pm | BusinessDesk
June 14 (BusinessDesk) - The trend is up for New Zealand's primary industry exports but the risks are growing, rendering biosecurity a leading priority, says the Ministry for Primary Industries. More >>
Regulator concerned at Fonterra's milk price calculations
Thursday, 14 June 2018, 1:53 pm | BusinessDesk
June 14 (BusinessDesk) - The Commerce Commission says it is concerned that the 'asset beta' Fonterra Cooperative Group uses to determine the farmgate milk price is too low, meaning it ends up paying its farmers a higher price for their milk than would ... More >>
NZ house prices, volumes increase in May
Thursday, 14 June 2018, 1:17 pm | BusinessDesk
June 14 (BusinessDesk) - New Zealand house prices rose in May as more properties changed hands, showing the market is buoyant heading into winter, the Real Estate Institute said. More >>
Air NZ shrugs off rising fuels costs
Thursday, 14 June 2018, 1:12 pm | BusinessDesk
June 14 (BusinessDesk) - Air New Zealand still expects annual earnings to beat last year's result despite the squeeze from rising fuel costs, which it sees as an ongoing headwind into 2019. More >>
NZ company growing new skin for burn victims
Thursday, 14 June 2018, 12:45 pm | BusinessDesk
June 14 (BusinessDesk) - A Kiwi biotechnology company which has found a way to grow bigger-than-A5 sheets of replacement human skin says the product might be ready to start clinical trials on burn patients in 2020 or 2021. More >>
Mercury raises earnings outlook again
Thursday, 14 June 2018, 12:18 pm | BusinessDesk
June 14 (BusinessDesk) - Mercury NZ has raised its earnings guidance for a fourth time as more rain around Taupo keeps the power company's North Island generation pumping out more electricity. More >>
Dollar holds ground against greenback after Fed hikes rates
Thursday, 14 June 2018, 12:01 pm | BusinessDesk
June 14 (BusinessDesk) - The New Zealand dollar briefly dropped to its lowest level in more than a week before recovering after the Federal Reserve hiked interest rates as expected and projected another two hikes in 2018 and three in 2019. More >>
MARKET CLOSE: NZ shares up led by Comvita, Summerset
Wednesday, 13 June 2018, 8:33 pm | BusinessDesk
June 13 (BusinessDesk) - New Zealand shares gained to a new record, led higher by Comvita and Summerset Group Holdings, and offsetting the drag of a weaker A2 Milk. More >>
NZ dollar holds above 70 US cts
Wednesday, 13 June 2018, 8:26 pm | BusinessDesk
NZ dollar holds above 70 US cts as investors pick more aggressive Fed rate hikes More >>
NZ Super Fund undecided on Bloom Energy stake after IPO docs
Wednesday, 13 June 2018, 5:09 pm | BusinessDesk
The New Zealand Superannuation Fund hasn't decided on what to do with its stake in US fuel cell maker Bloom Energy, which yesterday signalled plans to go public. More >>
RNZ boss Thompson says content-sharing buys audience exposure
Wednesday, 13 June 2018, 4:40 pm | BusinessDesk
June 13 (BusinessDesk) - Radio New Zealand's chief executive Paul Thompson says the public broadcaster is keen to expand on content-sharing arrangements with other New Zealand media outlets, which provide RNZ with advertising it couldn't otherwise get. More >>
Port of Tauranga outlook favourable
Wednesday, 13 June 2018, 3:59 pm | BusinessDesk
June 13 (BusinessDesk) - Port of Tauranga is a high-quality company lauded as the most productive and efficient port in Australasia but its shares are too expensive, according to Morningstar which recommends investors sell the stock. More >>
