Scoop has an Ethical Paywall
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 23]
Rate cut aimed at staving off unconventional monetary policy
Wednesday, 21 August 2019, 2:09 pm | BusinessDesk
Aug. 21 (BusinessDesk) - The recent steep rate cut by the Reserve Bank of New Zealand was aimed at reducing the probability that unconventional tools would be needed in the future, assistant governor Christian Hawkesby said in a speech published on the ... More >>
A2 Milk shares fall 15% despite solid result
Wednesday, 21 August 2019, 1:34 pm | BusinessDesk
A2 Milk shares fell 15 percent despite another strong lift in annual revenue and net profit as a massive marketing push helped it make further inroads in its core China and the US markets. It also announced plans to exit the UK. More >>
UPDATE: Spark lifts annual profit 12% on cost-cutting
Wednesday, 21 August 2019, 1:31 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Spark New Zealand lifted annual profit 12 percent as the country's biggest telecommunications company stripped out costs in its Quantum transformation programme. More >>
Mark Waller to step down as Ebos chair
Wednesday, 21 August 2019, 1:30 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Mark Waller will retire as chair of Ebos Group after the annual meeting on Oct. 15. More >>
Govt tells big cities: grow up and out
Wednesday, 21 August 2019, 1:24 pm | BusinessDesk
Nimbys, carparks and the status quo under threat as govt tells big cities: grow up and out More >>
Fletcher's annual operating earnings meet guidance
Wednesday, 21 August 2019, 12:09 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Fletcher Building posted a $164 million annual net profit, a turnaround from the previous year’s loss and the first year of a five-year refocusing strategy to grow the business, the company said. More >>
FIRST CUT: A2 Milk reports another hefty lift in revenue
Wednesday, 21 August 2019, 12:08 pm | BusinessDesk
Aug. 21 (BusinessDesk) - A2 Milk reported another strong lift in annual revenue and net profit as a massive marketing push helped it make further inroads in its core China and the US markets. More >>
FIRST CUT: Spark lifts annual profit 12%
Wednesday, 21 August 2019, 12:07 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Spark New Zealand lifted annual profit 12 percent as the country's biggest telecommunications company stripped out costs in its transformation programme, dubbed Quantum. More >>
NZ dollar range-bound; dairy auction provides support
Wednesday, 21 August 2019, 11:16 am | BusinessDesk
Aug. 21 (BusinessDesk) - The New Zealand dollar is range-bound ahead of a key meeting of central bankers later this week but found some support from better-than-expected dairy auction prices. More >>
Dairy product price index dips for sixth time
Wednesday, 21 August 2019, 10:20 am | BusinessDesk
Aug. 21 (BusinessDesk) - The dairy product price index slipped at the Global Dairy Trade auction, moving lower for the sixth time in the past seven auctions, even as whole milk powder gained. More >>
MARKET CLOSE: NZ shares rise; Napier Port's promising debut
Tuesday, 20 August 2019, 9:22 pm | BusinessDesk
Aug. 20 (BusinessDesk) – New Zealand shares rose as Napier Port Holdings climbed on debut, rising 13.5 percent to $3 from its IPO price of $2.60 a share. More >>
Stuff pulls pin on media companies' joint ad-buying business
Tuesday, 20 August 2019, 8:44 pm | BusinessDesk
Aug. 20 (BusinessDesk) - A four-way automated advertising collaboration between the country's largest media companies is being wound up after one of the four - Australian-owned Stuff - pulled the pin on its involvement as part of a strategic review of its operations ... More >>
UPDATE: Lack of fuel competition may be costing $400m
Tuesday, 20 August 2019, 8:42 pm | BusinessDesk
Aug. 20 (BusinessDesk) - The country’s fuel retailers may be earning close to $400 million a year in excess returns, and few expect any reduction in profitability any time soon, the Commerce Commission says. More >>
NZ dollar rises on mild improvement in sentiment
Tuesday, 20 August 2019, 8:41 pm | BusinessDesk
Aug. 20 (BusinessDesk) - The New Zealand dollar rose as investors decided to look on the bright side in the absence of hard news on the US-China trade war and what central banks will do next. More >>
APRA, RBNZ give ANZ Bank a headache over capital
Tuesday, 20 August 2019, 8:40 pm | BusinessDesk
Aug. 20 (BusinessDesk) - The Australian banking regulator has decided to go ahead with its proposal to halve the limit on the exposures of Australian banks to their subsidiaries, catching ANZ Bank between opposing regulatory requirements on each ... More >>
Lack of fuel competition may be costing $400m annually
Tuesday, 20 August 2019, 4:50 pm | BusinessDesk
Aug. 20 (BusinessDesk) - The country’s fuel retailers may be earning close to $400 million a year in excess returns, and few expect any reduction in profitability any time soon, the Commerce Commission says. More >>
UPDATE: Mercury earnings fall less than expected
Tuesday, 20 August 2019, 4:35 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Mercury NZ's annual operating earnings fell 11 percent, less than forecast, as record geothermal production helped offset a dry spell in the North Island that weighed on its hydro schemes. More >>
Napier Port jumps 12% on NZX debut
Tuesday, 20 August 2019, 3:06 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Napier Port debuted at $2.91 on the New Zealand stock exchange, up 12 percent on its initial public offer price, amid pent-up demand after an oversubscribed bookbuild earlier this month. More >>
Moody's sees pressure on NZ banks' profitability
Tuesday, 20 August 2019, 12:29 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Moody’s Investors Service says slow credit growth, low interest rates and rising costs will weigh on the profitability of New Zealand banks in the next 12 to 18 months. More >>
Breaking wholesale stranglehold on petrol supply
Tuesday, 20 August 2019, 12:05 pm | BusinessDesk
Aug. 20 (BusinessDesk) - A stranglehold on the wholesale supply of petrol and diesel is at the core of New Zealand's less than fully competitive transport fuel market and it should be loosened, the Commerce Commission says in the draft findings of ... More >>
