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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 222]
Govt putting $500k to examining the case for rail upgrades
Friday, 1 June 2018, 3:07 pm | BusinessDesk
June 1 (BusinessDesk) - The government announced a key step towards fulfilment of one of its coalition agreement promises, committing $500,000 for a study into the potential to upgrade and expand rail services north of Auckland, including a new ... More >>
NZ's terms of trade drops 1.9% in 1Q
Friday, 1 June 2018, 2:36 pm | BusinessDesk
June 1 (BusinessDesk) - New Zealand's merchandise terms of trade fell from a record high in the March quarter and broke a five-quarter streak of rises as weaker dairy prices weighed. More >>
Longroad Energy has Texas windfarm funding in place
Friday, 1 June 2018, 1:39 pm | BusinessDesk
June 1 (BusinessDesk) - Longroad Energy, a renewable energy project developer jointly owned by Infratil and the New Zealand Superannuation Fund, has funding in place to build a US$300 million wind project in Texas and is evaluating the long-term ownership ... More >>
BP's NZ profit climbs 65% to $243M in 2017
Friday, 1 June 2018, 1:35 pm | BusinessDesk
BP's NZ profit climbs 65% to $243M in 2017 as govt scrutinises fuel industry pricing More >>
NZ consumer confidence held steady in May
Friday, 1 June 2018, 1:34 pm | BusinessDesk
June 1 (BusinessDesk) - New Zealand consumer confidence held steady in May at levels slightly above the historical average. More >>
Synlait, Westland spruik higher milk payments for farmers
Friday, 1 June 2018, 1:05 pm | BusinessDesk
June 1 (BusinessDesk) - South Island dairy processors Synlait Milk and Westland Milk Products have raised their forecast milk payment levels to their farmer suppliers for the upcoming season, following a similar move last month by larger rival Fonterra ... More >>
NZ dollar rises to highest in almost a month
Friday, 1 June 2018, 11:49 am | BusinessDesk
June 1 (BusinessDesk) - The New Zealand dollar rose to its highest level in almost a month as fears about Italy's political crisis eased, helping lift the euro, and the US stoked concerns about a trade war with steel tariffs for Canada, Mexico and ... More >>
MARKET CLOSE: NZ shares rise in heavy MSCI trading
Thursday, 31 May 2018, 9:00 pm | BusinessDesk
MARKET CLOSE: NZ shares rise in heavy MSCI trading; Synlait, Mercury gain while A2 falls More >>
NZ dollar rises against Aussie, steady vs USD
Thursday, 31 May 2018, 8:26 pm | BusinessDesk
NZ dollar rises against Aussie, steady vs USD on easing Italy worries By Rebecca Howard More >>
Fletcher's Laminex exits 10-year investment in Southland MDF
Thursday, 31 May 2018, 8:04 pm | BusinessDesk
Fletcher's Laminex exits 10-year investment in Southland MDF plant with sale to Daiken More >>
Scott Technology conditionally agrees to buy Transbotics
Thursday, 31 May 2018, 8:02 pm | BusinessDesk
May 31 (BusinessDesk) - Scott Technology has entered a conditional agreement to buy Transbotics, a US-based automated guided vehicle manufacturer. No price was disclosed. More >>
Tencent Mobility snaps up Grinding Gear Games
Thursday, 31 May 2018, 6:23 pm | BusinessDesk
May 31 (BusinessDesk) - Hong Kong-listed Tencent Mobility was granted Overseas Investment Office approval to buy up to 100 percent of video game developer Grinding Gear Games for more than $100 million. More >>
OIO clears two yet-to-be announced deals
Thursday, 31 May 2018, 6:17 pm | BusinessDesk
May 31 (BusinessDesk) - The Overseas Investment Office has signed off on two deals involving public market transactions that have yet to be announced, although both involved domestic law firm Bell Gully. More >>
Oceania Natural to quit NXT, in talks with investors
Thursday, 31 May 2018, 4:48 pm | BusinessDesk
May 31 (BusinessDesk) - Oceania Natural will quit NZX's NXT market next month, pending shareholder approval, after two years on the bourse for minnows, saying the cost of staying listed is too much relative to its revenue. More >>
NZ firms get even gloomier as profit expectations dwindle
Thursday, 31 May 2018, 4:22 pm | BusinessDesk
May 31 (BusinessDesk) - New Zealand business confidence got even gloomier in May as firms, especially retailers, expect slower activity and more are now anticipating earnings to shrink in the coming year. More >>
2degrees lifts profit 33% in 2017 on increased revenue
Thursday, 31 May 2018, 3:50 pm | BusinessDesk
May 31 (BusinessDesk) - Telecommunications provider Two Degrees Mobile lifted net profit 33 percent in 2017, with revenue gains outpacing costs and the bottom line boosted by tax credits. More >>
Rio Tinto's Tiwai Point triples annual earnings
Thursday, 31 May 2018, 2:59 pm | BusinessDesk
May 31 (BusinessDesk) - Rio Tinto's Pacific Aluminium (New Zealand) unit tripled annual earnings from its controlling stake in the aluminium smelter at Tiwai Point on stronger metal prices, although it anticipates higher transmission costs from ... More >>
Restaurant Brands 1Q sales rise 12%
Thursday, 31 May 2018, 2:47 pm | BusinessDesk
May 31 (BusinessDesk) - Restaurant Brands New Zealand lifted first-quarter sales 12 percent after the fast-food operator acquired a further 13 KFC stores in Australia. More >>
IkeGPS narrows annual loss through sales growth
Thursday, 31 May 2018, 1:13 pm | BusinessDesk
May 31 (BusinessDesk) - IkeGPS, the unprofitable laser measurement tool maker, narrowed its annual loss after lifting sales 37 percent and cutting a fifth from its wage bill, and is optimistic positive cash flow generated in the fourth quarter will persist, ... More >>
NZ's 'solid' economic growth seen continuing, OECD says
Thursday, 31 May 2018, 1:11 pm | BusinessDesk
May 31 (BusinessDesk) - New Zealand's economic growth is set to continue to beat the average of the 35 member countries of the Organisation for Economic Cooperative and Development, as activity shifts away from consumption and towards investment, ... More >>
