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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.

Contact BusinessDesk

Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 255]

Bank of China impairs $33m loan in annual report, likely CBL

Thursday, 29 March 2018, 8:54 pm | BusinessDesk

March 29 (BusinessDesk) - Bank of China New Zealand's unit included a $12 million provision for impairment losses linked to one loan in its latest disclosure statement for the year to Dec. 31 after reports it lent 19.5 million euros to CBL Corp, currently ... More >>

MARKET CLOSE: NZ shares drop, A2 falls on Nestle competition

Thursday, 29 March 2018, 8:36 pm | BusinessDesk

MARKET CLOSE: NZ shares drop, A2 falls on Nestle competition, Fletcher sinks while Sky TV bounces More >>

NZ dollar heading for 1.6% quarterly gain

Thursday, 29 March 2018, 8:35 pm | BusinessDesk

March 29 (BusinessDesk) - The New Zealand dollar is heading for a 1.6 percent quarterly gain against the US dollar after a whippy three months that saw it around 5 percent higher at one stage as the greenback remained out of favour. More >>

What big tobacco didn't want you to read

Thursday, 29 March 2018, 7:47 pm | BusinessDesk

Philip Morris NZ's redacted statement of claim: What big tobacco didn't want you to read More >>

RBNZ registers Bank of China to provide banking services

Thursday, 29 March 2018, 7:46 pm | BusinessDesk

RBNZ registers Bank of China to provide banking services in New Zealand as a branch More >>

Hallenstein reports $15m 1H profit on strong Christmas sales

Thursday, 29 March 2018, 7:45 pm | BusinessDesk

March 29 (BusinessDesk) - Hallenstein Glasson Holdings has lifted its first-half dividend and says its two core brands, Glassons and Hallenstein Brothers, are in a strong position going into winter trading. More >>

Overseas Investment Office clears Horizon Oil

Thursday, 29 March 2018, 6:22 pm | BusinessDesk

March 29 (BusinessDesk) - The Overseas Investment Office gave ASX-listed Horizon Oil International a green light to buy a 16 percent stake in the Maari and Manaia oil fields and joint venture assets off the Taranaki coast from Todd Corp. More >>

Zespri on track for another lift in kiwifruit crop

Thursday, 29 March 2018, 3:19 pm | BusinessDesk

March 29 (BusinessDesk) - The New Zealand-grown kiwifruit crop is expected to be about 20 million trays or 70,000 tonnes higher than it was last year, Zespri Group, the country's statutory kiwifruit exporter, said in a release. More >>

T&G Global names new chief executive

Thursday, 29 March 2018, 3:11 pm | BusinessDesk

March 29 (BusinessDesk) - T&G Global named a new chief executive and chief operating officer to lead the fruit marketer, and said the acting chief executive will step down at the end of this month. More >>

Real estate investors to lose tax loophole

Thursday, 29 March 2018, 3:01 pm | BusinessDesk

March 29 (BusinessDesk) - Investors and speculators will lose their ability to offset losses on residential properties to reduce their tax on other income from April 1 next year, if proposals in an Inland Revenue Department issues paper published today ... More >>

NZ building consents lift in February

Thursday, 29 March 2018, 2:44 pm | BusinessDesk

March 29 (BusinessDesk) - New Zealand residential building consents lifted in February bolstered by consents for new townhouses, flats, units, and apartments. More >>

Rakon sells French property for 2.7M euro

Thursday, 29 March 2018, 1:06 pm | BusinessDesk

March 29 (BusinessDesk) - Rakon has sold its former manufacturing site in France for 2.7 million euros, as it continues to shift its manufacturing focus to India. More >>

Fletcher Building lenders agree to extend waivers

Thursday, 29 March 2018, 12:31 pm | BusinessDesk

March 29 (BusinessDesk) - Fletcher Building gained a two-month extension to waivers from its US noteholders and bank syndicate that were granted after it breached lending covenants, suggesting the company wasn't able to negotiate new terms by its March ... More >>

NZ dollar falls vs greenback on stronger US GDP data

Thursday, 29 March 2018, 11:52 am | BusinessDesk

March 29 (BusinessDesk) - The New Zealand dollar fell against the greenback after US fourth-quarter economic growth was revised up and declined against the Aussie heading into the end of the first quarter. More >>

While you were sleeping: Amazon weighs on Wall St

Thursday, 29 March 2018, 11:08 am | BusinessDesk

March 29 (BusinessDesk) - Wall Street fluctuated with tech stocks as Amazon shares sank amid a report that US President Donald Trump wants to curtail the company. More >>

MARKET CLOSE: A2 plunges on Nestle competition

Wednesday, 28 March 2018, 8:34 pm | BusinessDesk

March 28 (BusinessDesk) - New Zealand shares dropped 1.4 percent with A2 Milk Co and Synlait Milk sold off over competition from Nestle in China, while Sky Network Television fell on news it likely won't win the broadcasting rights for the 2019 ... More >>

Robertson unmoved by call to scrap 'budget responsibility'

Wednesday, 28 March 2018, 8:33 pm | BusinessDesk

March 28 (BusinessDesk) - Finance Minister Grant Robertson has been quick to rule out scrapping the government's Budget Responsibility Rules after the Council of Trade Unions said today they were too restrictive to allow necessary investment in public ... More >>