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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 245]
NZ tax take short by $800M a year on under-reporting
Friday, 20 April 2018, 12:00 pm | BusinessDesk
April 20 (BusinessDesk) - New Zealand is missing out on about $800 million in its annual tax take due to the country's self-employed under-reporting their income by about 20 percent, according to the Inland Revenue Department. More >>
NZ dollar falls against broadly stronger greenback
Friday, 20 April 2018, 11:44 am | BusinessDesk
April 20 (BusinessDesk) - The New Zealand dollar fell against a broadly stronger greenback in the face of rising yields on US Treasuries and expectations the US economy is strong enough to see the Federal Reserve continue hiking interest rates this year. More >>
Inflation concern, tech worries weigh on Wall St
Friday, 20 April 2018, 9:59 am | BusinessDesk
April 20 (BusinessDesk) - US stocks and Treasuries dropped on concern rising commodity prices, as the Trump administration’s protectionist moves raised the spectre of a global trade war, will boost inflation and interest rates. More >>
MARKET CLOSE: NZ shares rise led by Synlait, A2, Comvita
Thursday, 19 April 2018, 8:57 pm | BusinessDesk
MARKET CLOSE: NZ shares rise led by Synlait, A2, Comvita as US earnings stoke global sentiment More >>
NZ dollar dips after domestic inflation report
Thursday, 19 April 2018, 8:26 pm | BusinessDesk
April 19 (BusinessDesk) - The New Zealand dollar fell against the greenback after a local data continued to show little domestic inflation, reaffirming expectations rates will stay on hold for some time yet. More >>
Unlisted celebrates first $1 bln issue as Zespri trades
Thursday, 19 April 2018, 6:44 pm | BusinessDesk
April 19 (BusinessDesk) - Zespri Group's shares rose to a record when they resumed trading, after being halted for the 2018 allocation of Gold3 kiwifruit licences, pushing the kiwifruit exporter's market capitalisation to $1.1 billion and making ... More >>
Bitcoin may fail the 'money' test
Thursday, 19 April 2018, 6:09 pm | BusinessDesk
Bitcoin may fail the 'money' test and be a less suitable model for central bank issuance More >>
Spanbild buys Mike Greer Homes in Concision factory pship
Thursday, 19 April 2018, 5:08 pm | BusinessDesk
April 19 (BusinessDesk) - Christchurch-based building company Spanbild has bought out Concision Panelised Technology partner Mike Greer Homes (MGH), giving it control of a building panelisation factory in Rolleston. More >>
Scales hunts for NZ agribusiness acquisitions
Thursday, 19 April 2018, 4:43 pm | BusinessDesk
April 19 (BusinessDesk) - Scales Corp is eyeing potential agribusiness acquisitions that would fit well with its export apple business as the country's largest apple grower aims to become the foremost investor in and grower of New Zealand agribusiness. More >>
UPDATE: NZ annual inflation slows to 1.1%
Thursday, 19 April 2018, 3:58 pm | BusinessDesk
April 19 (BusinessDesk) - New Zealand's annual inflation fell near to the bottom of the Reserve Bank's target band in the first quarter but is unlikely to concern the central bank, given it was largely due to cheaper tertiary education costs. More >>
Parker seeks policy on urban sprawl
Thursday, 19 April 2018, 3:44 pm | BusinessDesk
April 19 (BusinessDesk) - Environment Minister David Parker wants officials to work on a national policy statement for versatile land and high-class soils in response to a report showing changing land use such as urban sprawl and intensified farming ... More >>
NZ 1Q inflation 0.5%, annual rate slows to 1.1%
Thursday, 19 April 2018, 1:59 pm | BusinessDesk
NZ 1Q inflation 0.5%, annual rate slows to 1.1% as cheaper education offsets higher tobacco prices More >>
Livestock Improvement buys back $5.3M of shares
Thursday, 19 April 2018, 1:09 pm | BusinessDesk
April 19 (BusinessDesk) - Farmer-owned cooperative Livestock Improvement Corp will buy back $5.3 million of its shares as part of its move to simplify its share structure. More >>
NZ government proposes 12.5% R&D tax incentive
Thursday, 19 April 2018, 12:54 pm | BusinessDesk
April 19 (BusinessDesk) - The New Zealand government has proposed phasing out the Growth Grant administered by Callaghan Innovation and introducing a 12.5 percent research and development tax incentive in a discussion document released today. More >>
NZ dollar falls vs greenback on Beige Book
Thursday, 19 April 2018, 11:46 am | BusinessDesk
April 19 (BusinessDesk) - The New Zealand dollar fell against the greenback after the Federal Reserve's Beige Book indicated that the US economy continued to expand through April and rose versus the pound after weaker-than-expected UK inflation. ... More >>
Wall St climbs on earnings, IBM bucks trend
Thursday, 19 April 2018, 10:12 am | BusinessDesk
April 19 (BusinessDesk) - Wall Street moved higher as the latest corporate earnings including from Morgan Stanley bolstered amid optimism about the outlook, even as IBM shares dropped on disappointing results. More >>
MARKET CLOSE: NZ shares gain
Wednesday, 18 April 2018, 8:40 pm | BusinessDesk
April 18 (BusinessDesk) - New Zealand shares gained in light trading as Fletcher Building's discounted rights issue and upcoming MSCI New Zealand index review weighed on investors' minds. Trade Me and Metlifecare increased while Comvita dropped. More >>
NZ dollar, little changed, may fall on technical basis
Wednesday, 18 April 2018, 8:10 pm | BusinessDesk
April 18 (BusinessDesk) - The New Zealand dollar was little changed and is more likely to fall, on a technical basis after failing to punch through its highs for the year. First-quarter inflation figures tomorrow are expected to be supportive of interest ... More >>
TTR says majority of appeal 'not questions of law'
Wednesday, 18 April 2018, 7:39 pm | BusinessDesk
April 18 (BusinessDesk) - Trans-Tasman Resources is defending the Environmental Protection Authority-appointed committee’s decision to grant a marine consent for its offshore iron mining project in a hearing underway in Wellington this week. More >>
Fletcher sitting on $700M of for-sale assets
Wednesday, 18 April 2018, 6:33 pm | BusinessDesk
April 18 (BusinessDesk) - Fletcher Building's Formica and Roof Tile businesses are worth about $700 million and would sell at a higher multiple than other parts of the group, say analysts at Morningstar. More >>
