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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 229]
Fulton Hogan to buy Stevenson's construction materials unit
Monday, 21 May 2018, 8:08 pm | BusinessDesk
May 21 (BusinessDesk) - Fulton Hogan has bought Stevenson Group's construction materials units for an undisclosed sum, adding two quarries, four concrete plants and a lab testing facility at a time when infrastructure work is tipped to keep growing over ... More >>
Secure energy supply vital to future of NZ heavy industry
Monday, 21 May 2018, 8:07 pm | BusinessDesk
May 21 (BusinessDesk) - Energy-intensive heavy industry has a long term future in New Zealand, but only if policies to decarbonise the economy can deliver a secure energy supply, says the outgoing chief executive of New Zealand Aluminium Smelters, ... More >>
Australian TV producer must pay Greenstone TV founders $555k
Monday, 21 May 2018, 8:04 pm | BusinessDesk
Australian TV producer must pay Greenstone TV founders $555,000, Court of Appeal rules By Sophie Boot More >>
UDPATE: Uptown Bounce trampoline parks put into liquidation
Monday, 21 May 2018, 4:51 pm | BusinessDesk
May 21 (BusinessDesk) - Uptown Bounce trampoline parks in Wellington and in Avondale, Auckland, have closed after the companies behind them were put into liquidation as increased competition hurt customer numbers. Uptown Bounce in Grey Lynn in Auckland ... More >>
Vocus NZ head Mark Callander bumped up to boardroom
Monday, 21 May 2018, 3:58 pm | BusinessDesk
May 21 (BusinessDesk) - Vocus Group's New Zealand chief Mark Callander will join the Australasian telecommunications group's board later this month, joining newly appointed managing director Kevin Russell. More >>
Comvita pulls out of takeover talks
Monday, 21 May 2018, 3:39 pm | BusinessDesk
May 21 (BusinessDesk) - Comvita pulled out of talks with an unnamed third party looking to take over the NZX-listed manuka honey company when it couldn't reach a deal on price. The stock fell 7.1 percent More >>
Motor Trade Finance first-half profit flat
Monday, 21 May 2018, 3:11 pm | BusinessDesk
May 21 (BusinessDesk) - Motor Trade Finance reported flat first-half profit as the commissions and fees paid to its shareholder originators soaked up increased earnings from a rapidly expanding loan book. More >>
NZ 1Q quarterly retail sales up 0.1%
Monday, 21 May 2018, 2:43 pm | BusinessDesk
May 21 (BusinessDesk) - New Zealand retail sales rose in the March quarter but were lower than expected on weaker fuel and motor vehicle and parts retailing after a biosecurity threat crimped car imports. More >>
Uptown Bounce trampoline parks put into liquidation
Monday, 21 May 2018, 2:40 pm | BusinessDesk
May 21 (BusinessDesk) - Uptown Bounce trampoline parks in Wellington and in Avondale, Auckland, have closed after the companies behind them were put into liquidation as increased competition hurt customer numbers. Uptown Bounce in Grey Lynn in Auckland ... More >>
NZ annual net migration slows in April
Monday, 21 May 2018, 2:38 pm | BusinessDesk
May 21 (BusinessDesk) - New Zealand's annual net migration continued to slow in April as more non-New Zealanders left the country, though the number of immigrants rose. More >>
Veritas Investments gets $27.5 mln refinancing deal
Monday, 21 May 2018, 1:16 pm | BusinessDesk
May 21 (BusinessDesk) - Japanese investment bank Nomura Holdings will lend Veritas Investments $27.5 million to repay bank debt and fund expansion in the hospitality sector, if Veritas' shareholders agree. More >>
SkyCity inks construction contract for Adelaide casino
Monday, 21 May 2018, 1:15 pm | BusinessDesk
May 21 (BusinessDesk) - SkyCity Entertainment Group has inked a construction contract with Australian commercial construction company Hansen Yuncken for expansion of its Adelaide Casino. More >>
Kiwi Property earnings climb 8.2%
Monday, 21 May 2018, 12:33 pm | BusinessDesk
May 21 (BusinessDesk) - Kiwi Property Group lifted annual earnings 8.2 percent as the real estate investor's rental income was boosted by the completion of several developments and new acquisitions, although smaller revaluation gains led to a fall ... More >>
China trade tensions cool after successful negotiations
Monday, 21 May 2018, 11:46 am | BusinessDesk
NZ dollar gains as US, China trade tensions cool after successful negotiations By Paul McBeth More >>
World Week Ahead: Eyes on Fed’s Powell, FOMC minutes
Monday, 21 May 2018, 11:11 am | BusinessDesk
May 21 (BusinessDesk) - A speech by Federal Reserve Chair Jerome Powell as well as the minutes from the latest US central bank meeting will form a key focus for investors trying to gauge how many more interest rate hikes might follow the one they’re ... More >>
High Court backs Commerce Commission over Harmoney
Friday, 18 May 2018, 9:33 pm | BusinessDesk
May 18 (BusinessDesk) - The High Court has sided with the Commerce Commission on how to interpret peer-to-peer lender Harmoney's platform fees, deeming them to be credit fees and falling under the regulator's purview. More >>
David Henderson can get back to business - as a consultant
Friday, 18 May 2018, 9:30 pm | BusinessDesk
May 18 (BusinessDesk) - Former Christchurch property developer David Henderson, twice bankrupted for his forays into property development, has won the right to re-engage with the sector, but only as a self-employed consultant providing services to the ... More >>
CBL administrators adjourn watershed meeting on stalemate
Friday, 18 May 2018, 8:54 pm | BusinessDesk
May 18 (BusinessDesk) - CBL Corp's voluntary administrators adjourned a watershed meeting today when it became clear there would be a voting stalemate on whether to put the company into liquidation or hand control back to its directors. More >>
MARKET CLOSE: NZ shares gain as Goodman JV sells
Friday, 18 May 2018, 8:31 pm | BusinessDesk
MARKET CLOSE: NZ shares gain as Goodman JV sells Auckland precinct, Ryman posts record profit By Paul McBeth More >>
NZ dollar heading for 1.2% weekly decline
Friday, 18 May 2018, 8:23 pm | BusinessDesk
NZ dollar heading for 1.2% weekly decline as US dollar remains in favour By Rebecca Howard More >>
