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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 231]
Robust economy drives higher tax take
Thursday, 17 May 2018, 5:25 pm | BusinessDesk
May 17 (BusinessDesk) - Finance Minister Grant Robertson has found an extra $24 billion to spend over the next four years by taking in more tax, reprioritising existing expenses, and thanks to delaying the previous government's debt reduction target ... More >>
Mycoplasma bovis response likely to need ‘significant’ spend
Thursday, 17 May 2018, 5:18 pm | BusinessDesk
May 17 (BusinessDesk) - The government has allocated $85 million of operating funding in the current year to deal with the Mycoplasma bovis outbreak, but a looming report will likely spell out a “significant” bill, Finance Minister Grant Robertson ... More >>
New watchdogs for election spending promises
Thursday, 17 May 2018, 5:14 pm | BusinessDesk
May 17 (BusinessDesk) - The Budget creates three new government quangos to run the rule over political parties’ spending promises, keep tabs on local governments’ administration of the Resource Management Act, and a special tribunal to sort out ... More >>
BUDGET 2018: Govt sets aside $1 bln for R&D tax credit
Thursday, 17 May 2018, 5:11 pm | BusinessDesk
May 17 (BusinessDesk) - The government has set aside about $1 billion over the next four years for tax rebates from the research and development tax credit, which Innovation Minister Megan Woods hopes will spur on the level private sector R&D investment. More >>
Construction sector bottleneck threatens growth
Thursday, 17 May 2018, 5:09 pm | BusinessDesk
May 17 (BusinessDesk) - Bottlenecks in the booming construction industry see weak growth in residential house-building over the next 12 months and have forced the Treasury to halve its forecast rate of progress on the government’s KiwiBuild affordable ... More >>
ProdCom to investigate impacts of disruptive technology
Thursday, 17 May 2018, 5:08 pm | BusinessDesk
May 17 (BusinessDesk) - The Productivity Commission will conduct an investigation into the impacts of technological change and disruption, and the future of work. More >>
NZ capital spend shifted to health, education from transport
Thursday, 17 May 2018, 5:07 pm | BusinessDesk
May 17 (BusinessDesk) - Finance Minister Grant Robertson’s $41.8 billion capital spending programme will divert transport funds into health and education – two areas the government has deemed to be woefully underfunded. More >>
NZ govt tilts debt profile to long-term maturities
Thursday, 17 May 2018, 5:06 pm | BusinessDesk
May 17 (BusinessDesk) - The New Zealand Debt Management Office will increase its sale of government bonds over the next four years, while trimming short-term Treasury bills, lifting the borrowing programme by about $1 billion. More >>
Pushpay meets FY18 guidance as revenue doubles
Thursday, 17 May 2018, 3:14 pm | BusinessDesk
May 17 (BusinessDesk) - Pushpay Holdings, the mobile payments app company, narrowed its net loss as it doubled revenue in 2018, in line with forecasts. More >>
NZ producer input, output prices rise in 1Q - dairy/fuel up
Thursday, 17 May 2018, 3:08 pm | BusinessDesk
May 17 (BusinessDesk) - New Zealand producer input and output prices rose in the first quarter, lifted by increasing fuel and dairy prices. More >>
NZ produces record volumes of milk in April
Thursday, 17 May 2018, 3:05 pm | BusinessDesk
May 17 (BusinessDesk) - New Zealand milk processors collected record levels of milk in April as favourable weather boosted pasture growth. More >>
Infratil beats annual profit guidance
Thursday, 17 May 2018, 1:31 pm | BusinessDesk
May 17 (BusinessDesk) - Infratil beat its annual earnings guidance, and said it expects profitability to increase in the future on the back of its recent investments. More >>
Briscoe to reimburse staff for unpaid end-of-day cash up
Thursday, 17 May 2018, 1:22 pm | BusinessDesk
May 17 (BusinessDesk) - Briscoe Group will reimburse staff who cashed up at the end of the day but didn’t get paid for the time, something managing director Rod Duke says is company policy. More >>
Rakon gains 7.5% after return to profit
Thursday, 17 May 2018, 1:17 pm | BusinessDesk
May 17 (BusinessDesk) - Rakon shares gained 7.5 percent after the high-tech components maker returned to a full year profit, benefiting from growth in its core markets and some non-recurring gains. More >>
NZ dollar climbs from 5-month low ahead of budget
Thursday, 17 May 2018, 11:34 am | BusinessDesk
May 17 (BusinessDesk) - The New Zealand dollar climbed from a five-month low ahead of the Labour-led government's first budget, which is expected to show a relatively upbeat economic and fiscal outlook. More >>
Macy’s upbeat outlook boosts Wall St
Thursday, 17 May 2018, 11:12 am | BusinessDesk
May 17 (BusinessDesk) - Wall Street rose as better-than-expected results from Macy’s lifted its shares as well as those of other retailers and underpinned optimism about consumer spending and the economic outlook. More >>
NZ central bank HQ evacuated after trace of asbestos found
Wednesday, 16 May 2018, 9:14 pm | BusinessDesk
May 16 (BusinessDesk) - New Zealand's central bank has temporarily evacuated its headquarters in Wellington after a trace of asbestos was found. Essential operations will occur out of its Auckland premises. More >>
MARKET CLOSE: A2 drags stock index lower
Wednesday, 16 May 2018, 8:40 pm | BusinessDesk
May 16 (BusinessDesk) - New Zealand shares fell as A2 Milk Co disappointed investors with a market update, dragging down partner Synlait Milk. More >>
NZ dollar rises against Australian dollar
Wednesday, 16 May 2018, 8:11 pm | BusinessDesk
May 16 (BusinessDesk) - The New Zealand dollar gained against the Australian dollar as data across the Tasman continued to point to weak wage inflation and therefore no reason to lift rates anytime soon. More >>
FMA hopes sunlight on adviser junkets will spur change
Wednesday, 16 May 2018, 7:34 pm | BusinessDesk
May 16 (BusinessDesk) - The Financial Markets Authority wants insurers to rethink their sales incentives after a report found junkets were being dangled to advisers as a sweetener for a hard pitch on new life and health insurance policies. More >>
