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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 254]
Wall St rebounds, Treasuries decline
Wednesday, 4 April 2018, 9:42 am | BusinessDesk
April 4 (BusinessDesk) - Wall Street rebounded following Monday’s selloff as investors found value in beaten-down stocks. More >>
Govt to raid regional growth fund and motorists' pockets
Tuesday, 3 April 2018, 9:41 pm | BusinessDesk
April 3 (BusinessDesk) - The government is proposing to raise petrol excises by between 9 and 12 cents a litre over the next three years and to funnel cash from its $3 billion Provincial Growth Fund into improving local roads, new public transport and rail ... More >>
MARKET CLOSE: NZ shares mixed; A2 Milk rebounds
Tuesday, 3 April 2018, 8:44 pm | BusinessDesk
April 3 (BusinessDesk) - New Zealand shares were mixed, with A2 Milk Co bouncing after recent selling while Orion Health Group sank to a record low. More >>
Fonterra milk collection hindered by unkind weather
Tuesday, 3 April 2018, 8:43 pm | BusinessDesk
April 3 (BusinessDesk) - Fonterra Cooperative Group's New Zealand milk collection fell 4 percent in February from a year earlier, as difficult weather conditions weighed on pasture quality and feed growth rates. More >>
NZ dollar gains on signs of recovery in risk appetite
Tuesday, 3 April 2018, 8:12 pm | BusinessDesk
April 3 (BusinessDesk) - The New Zealand dollar pared some of its overnight losses against the greenback as risk aversion eased slightly in Asian trading although investors remain jittery about a possible global trade war. More >>
ICBC seeking registration as a bank branch in NZ
Tuesday, 3 April 2018, 7:10 pm | BusinessDesk
April 3 (BusinessDesk) - Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, is in the process of applying for a branch licence to operate in New Zealand, following in the footsteps of Bank of China and China Construction ... More >>
ASX-listed CropLogic to spend up to A$320k
Tuesday, 3 April 2018, 7:09 pm | BusinessDesk
ASX-listed CropLogic to spend up to A$320k to buy Tasmania-based Ag Logic More >>
Volpara Health Technologies exceeds revenue goal
Tuesday, 3 April 2018, 7:08 pm | BusinessDesk
April 3 (BusinessDesk) - Volpara Health Technologies, the Kiwi digital health firm listed on the ASX, said it exceeded its goal of lifting annual recurring revenue 200 percent for the financial year ended March 31. More >>
Healthcare NZ pays $51.9M for rival Geneva Healthcare
Tuesday, 3 April 2018, 5:14 pm | BusinessDesk
April 3 (BusinessDesk) - Healthcare of New Zealand Holdings paid $51.9 million to buy rival Geneva Healthcare, giving the country's biggest provider of homecare support a bigger share of the Auckland market where it was under-represented. More >>
Evolve puts Porse unit on the market after strategic review
Tuesday, 3 April 2018, 5:00 pm | BusinessDesk
April 3 (BusinessDesk) - Evolve Education Group, which raised $132 million in a 2014 public offering to acquire and bundle a group of childcare and home-help businesses, has put its Porse in-home childcare business up for sale after a strategic review. More >>
ICBC NZ becomes second Chinese lender to impair CBL loan
Tuesday, 3 April 2018, 4:59 pm | BusinessDesk
April 3 (BusinessDesk) - ICBC New Zealand has taken a $10.2 million impairment on a loan to CBL Corp, becoming the second Chinese lender to reveal exposure to the insurance group which is in voluntary administration. More >>
Orion Health revenue misses forecast
Tuesday, 3 April 2018, 1:40 pm | BusinessDesk
April 3 (BusinessDesk) - Orion Health Group shares fell after the healthcare software developer missed guidance for annual sales due to delays in finalising some large deals and said it's targeting annual savings of up to $30 million in a "substantial" ... More >>
MetroGlass says FY normalised net profit was $18M to $18.5M
Tuesday, 3 April 2018, 1:39 pm | BusinessDesk
MetroGlass says FY normalised net profit was $18M to $18.5M, at or below guidance More >>
CORRECT: Silver Fern Farms back in black
Tuesday, 3 April 2018, 1:38 pm | BusinessDesk
CORRECT: Silver Fern Farms back in black after Shanghai Maling deal; Cooperative in the red More >>
A2 remains confident in Chinese demand as competitors emerge
Tuesday, 3 April 2018, 1:25 pm | BusinessDesk
April 3 (BusinessDesk) - A2 Milk Co says it hasn't seen any change in growth in China and it's confident in its business as its share price continues to drop on news that competitors have begun selling their own A2-branded infant formulas in China. More >>
Silver Fern Farms back in black after Shanghai Maling deal
Tuesday, 3 April 2018, 11:55 am | BusinessDesk
April 3 (BusinessDesk) - Silver Fern Farms returned to profit last year as a capital injection from China's Shanghai Maling trimmed the meat processor's finance costs and global beef prices rebounded, although its cooperative shareholder posted a loss ... More >>
NZ dollar falls as China retaliates over US tariffs
Tuesday, 3 April 2018, 11:52 am | BusinessDesk
April 3 (BusinessDesk) - The New Zealand dollar fell after China retaliated over US tariffs, sapping risk appetite and driving up demand for so-called safe-haven currencies such as the yen. More >>
While you were sleeping: Wall St sinks with Amazon
Tuesday, 3 April 2018, 9:33 am | BusinessDesk
April 3 (BusinessDesk) - Wall Street plunged as US President Donald Trump sank Amazon and other tech stocks in a market additionally rattled by China’s retaliation with fresh tariffs on US imports. More >>
First shots fired in looming battle on labour law reform
Tuesday, 3 April 2018, 12:02 am | BusinessDesk
April 2 (BusinessDesk) - The government's proposed labour law reforms re-establish a kind of "compulsory unionism", and many provisions of the Employment Relations Reform Bill conflict with its objective of promoting "a high performing, ... More >>
Allbirds expands to Canada amid global demand
Friday, 30 March 2018, 11:53 am | BusinessDesk
March 30 (BusinessDesk) - Allbirds, the sustainable footwear company co-founded by former New Zealand soccer star Tim Brown, has expanded into Canada, its fourth global market. More >>
