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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 25]
Sky TV shares rise on US$40m RugbyPass acquisition
Friday, 16 August 2019, 3:11 pm | BusinessDesk
Aug. 16 (BusinessDesk) - Sky Network Television shares rose 3.3 percent as investors welcomed plans to extend its foray into online media and push for a bigger global rugby audience by buying online rugby platform RugbyPass for up to US$40 million. More >>
NZ manufacturing activity shrinks for first time in 7 years
Friday, 16 August 2019, 1:53 pm | BusinessDesk
Aug. 16 (BusinessDesk) - New Zealand manufacturing activity contracted for the first time in seven years as new orders dried up and job numbers tumbled. More >>
Orr defends RBNZ rate cut, says monetary policy looks ahead
Friday, 16 August 2019, 1:25 pm | BusinessDesk
Aug. 16 (BusinessDesk) - Central bank governor Adrian Orr came out swinging in response to an opinion piece from BusinessNZ chief executive Kirk Hope who called on the bank to focus on a "conservative, principles-based, no-surprises approach to monetary ... More >>
Michael Hill underlying earnings fall 14% as margins squeeze
Friday, 16 August 2019, 1:06 pm | BusinessDesk
Aug. 16 (BusinessDesk) - Michael Hill International reported a slide in underlying earnings as margins were squeezed in a competitive retail environment. More >>
Mainzeal’s Yan to resist bankruptcy
Friday, 16 August 2019, 1:04 pm | BusinessDesk
Aug. 16 (BusinessDesk) - Former Mainzeal director Richard Yan says he’ll fight pressure from liquidators at BDO after they moved to make him bankrupt. More >>
NZ dollar stuck in tight range; global sentiment the driver
Friday, 16 August 2019, 11:06 am | BusinessDesk
Aug. 16 (BusinessDesk) - The New Zealand dollar stuck to a tight range as ongoing trade concerns offset better-than-expected retail data in the US. More >>
Kiwis squeezing more out of ageing fleet
Friday, 16 August 2019, 11:04 am | BusinessDesk
Aug. 16 (BusinessDesk) - The slowing market for new car sales has weighed on dealers' earnings but has been a boon for the likes of Super Cheap Auto as people try to get more out of their ageing vehicles. More >>
MARKET CLOSE: NZ shares join global rout
Thursday, 15 August 2019, 8:42 pm | BusinessDesk
Aug. 15 (BusinessDesk) - New Zealand shares joined a global slump as investors fretted over the prospect of a worldwide recession in the wake of bond market pricing. Heartland Group was among the few local stocks in positive territory after reporting solid ... More >>
NZ dollar falls against Aussie on stronger-than-expected job
Thursday, 15 August 2019, 8:12 pm | BusinessDesk
Aug. 15 (BusinessDesk) - The New Zealand dollar fell against its Australian counterpart after better-than-expected jobs numbers across the Tasman but was little changed against the US dollar. More >>
UPDATE: Heartland shares gain as annual profit lifts 9%
Thursday, 15 August 2019, 7:22 pm | BusinessDesk
(Adds share movement to lead and updates price in 4th paragraph, includes profit guidance in 9th paragraph) More >>
Xero says global roll-out of core product still best option
Thursday, 15 August 2019, 4:22 pm | BusinessDesk
Aug. 15 (BusinessDesk) - Xero’s biggest immediate opportunities are to keep driving growth of its core accounting software in existing markets and to enter other geographies, says chief executive Steve Vamos. More >>
SkyCity CEO sees no sign of slowdown yet, but is prepared
Thursday, 15 August 2019, 3:38 pm | BusinessDesk
Aug. 15 (BusinessDesk) - SkyCity Entertainment Group isn’t yet seeing the impact of a slowdown in tourism but chief executive Graeme Stephens says he's braced for the challenge. More >>
Macpac outperforming expectations for Super Retail Group
Thursday, 15 August 2019, 3:10 pm | BusinessDesk
Aug. 15 (BusinessDesk) - Macpac is still delivering better results than expected for its Australian owner Super Retail Group, which wants to keep rolling out the outdoor equipment chain across Australasia. More >>
Heartland Group lifts annual profit 9% on lending growth
Thursday, 15 August 2019, 2:00 pm | BusinessDesk
Heartland Group lifted annual net profit 9 percent amid growth in its reverse mortgages, motor and business lending divisions. Net profit for the 12 months ended June 30 rose to $73.6 million from $67.5 million the previous year. More >>
ComCom pushes Fonterra on impact of carbon reductions
Thursday, 15 August 2019, 1:26 pm | BusinessDesk
Aug. 15 (BusinessDesk) - The Commerce Commission wants more information from Fonterra Cooperative Group on what it thinks the cost of cutting carbon emissions will have on the milk price paid to farmers. More >>
NZD weaker as global risk aversion picks up
Thursday, 15 August 2019, 11:12 am | BusinessDesk
Aug. 15 (BusinessDesk) - The New Zealand dollar fell as global risk aversion picked up again after US Treasury yield curve inverted briefly overnight, often viewed as a sign of looming recession. More >>
MARKET CLOSE: NZ shares dip
Wednesday, 14 August 2019, 9:01 pm | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand shares dipped as the local reporting season continued to meet expectations with SkyCity Entertainment Group posting a small increase in underlying earnings and signalling growth in the current year. More >>
NZ dollar pushed and pulled
Wednesday, 14 August 2019, 8:20 pm | BusinessDesk
Aug. 14 (BusinessDesk) - The New Zealand dollar was little changed after worse-than-expected Chinese economic data tempered early enthusiasm after US President Donald Trump said he would delay tariffs on imports of some consumer goods from China. More >>
Potatoes vs people: govt moves to protect top vege-growing
Wednesday, 14 August 2019, 7:48 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Lifestyle blocks and new subdivisions will be far harder to develop on areas of rich soil under a new national policy statement on highly productive land unveiled for submissions by the government today. More >>
International guest nights plumb 3-year low
Wednesday, 14 August 2019, 5:15 pm | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand's accommodation operators reported the fewest monthly international guest nights for three years in June as the tourism boom tapers off. More >>
