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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 259]
MARKET CLOSE: NZX 50 rises to record
Wednesday, 21 March 2018, 8:42 pm | BusinessDesk
MARKET CLOSE: NZX 50 rises to record; Synlait jumps to all-time high after earnings More >>
NZ dollar little changed near 6-week low
Wednesday, 21 March 2018, 8:11 pm | BusinessDesk
March 21 (BusinessDesk) - The New Zealand dollar was little changed near a six-week low ahead of a likely rate hike by the US Federal Reserve but could bounce back if the Fed fails to sound a more hawkish note in its commentary. More >>
Briscoe Group ups investment in Kathmandu
Wednesday, 21 March 2018, 7:31 pm | BusinessDesk
March 21 (BusinessDesk) - Briscoe Group participated in the capital raising announced by Kathmandu Holdings, buying 2.57 million shares from the institutional placement for a cost of $5.6 million. It also intends to participate in the share purchase ... More >>
PFI chair Peter Masfen to step down
Wednesday, 21 March 2018, 6:44 pm | BusinessDesk
March 21 (BusinessDesk) - Property For Industry's chair Peter Masfen will retire at the company's annual meeting on May 8, to be replaced by deputy chair Anthony Beverley. More >>
Jones's call for Air NZ resignation step too far: Ardern
Wednesday, 21 March 2018, 5:50 pm | BusinessDesk
March 21 (BusinessDesk) - Regional Economic Development Minister Shane Jones's public call for the chairman of Air New Zealand to resign was "a step too far", says Prime Minister Jacinda Ardern. More >>
NZ net migration slows in February
Wednesday, 21 March 2018, 2:34 pm | BusinessDesk
March 21 (BusinessDesk) - New Zealand annual net migration continued to moderate in February, though it's still at historic highs, as more New Zealanders and non-New Zealanders left. More >>
UPDATE: Synlait shares jump as result allays fears
Wednesday, 21 March 2018, 2:32 pm | BusinessDesk
BusinessDesk via sendgrid.me 2:16 PM (15 minutes ago) to editor (recasts lead to include market reaction, adds broker comment in paragraph five, detail throughout) More >>
Theo Spierings to leave Fonterra CEO this year
Wednesday, 21 March 2018, 2:15 pm | BusinessDesk
March 21 (BusinessDesk) - Fonterra chief executive Theo Spierings will vacate the position in the course of this year, the cooperative's chair, John Wilson announced. More >>
UPDATE: Fonterra takes $405M Beingmate charge
Wednesday, 21 March 2018, 1:22 pm | BusinessDesk
March 21 (BusinessDesk) - Fonterra Cooperative Group wrote down the value of its Beingmate Baby & Child Food investment by $405 million, calling the performance of its Chinese partner "unacceptable". The writedown and a $183 million settlement with ... More >>
AFT expects $5mln cash from selling hospital products
Wednesday, 21 March 2018, 1:20 pm | BusinessDesk
March 21 (BusinessDesk) - AFT Pharmaceuticals, which manufactures the Maxigesic painkiller, is selling its "non-core hospital products" to Fortune 500 company Baxter Healthcare in New Zealand and expects to do the same in Australia. More >>
January storms cost insurers $38.5 mln, more claims to come
Wednesday, 21 March 2018, 12:59 pm | BusinessDesk
March 21 (BusinessDesk) - Ex-cyclone Fehi has cost insurers $38.5 million so far, with that expected to rise and the cost of other extreme weather not yet quantified, the Insurance Council said. More >>
Kathmandu raises $40M for US footwear purchase
Wednesday, 21 March 2018, 12:53 pm | BusinessDesk
March 21 (BusinessDesk) - Kathmandu Holdings, the outdoor equipment retailer, successfully raised $40 million through an institutional share placement of approximately 18.5 million new fully paid ordinary shares, it said in a release to the stock exchange. More >>
Fonterra takes $405M Beingmate charge, posts 1H loss
Wednesday, 21 March 2018, 12:50 pm | BusinessDesk
March 21 (BusinessDesk) - Fonterra Cooperative Group slashed $405 million off the carrying value of its investment in Beingmate Baby & Child Food, calling the performance of its Chinese partner "unacceptable". The writedown and a ... More >>
Synlait posts record profit, forecasts FY earnings growth
Wednesday, 21 March 2018, 12:47 pm | BusinessDesk
Synlait posts record first-half net profit, forecasts FY earnings growth on infant formula sales More >>
NZ dollar falls to 6-week low as FOMC looms
Wednesday, 21 March 2018, 11:45 am | BusinessDesk
March 21 (BusinessDesk) - The New Zealand dollar fell to a six-week low ahead of what is expected to be a rate hike by the Federal Reserve's policy committee tomorrow, which will highlight the disparity with the Reserve Bank's interest rate outlook. More >>
While you were sleeping: Wall St, oil rebound
Wednesday, 21 March 2018, 11:00 am | BusinessDesk
March 21 (BusinessDesk) - Wall Street moved higher as did oil prices, while US Treasuries declined, as the US Federal Reserve began its first two-day policy meeting chaired by Jerome Powell. More >>
Dairy product prices dip for a third straight auction
Wednesday, 21 March 2018, 9:56 am | BusinessDesk
March 21 (BusinessDesk) - Dairy product prices declined at the Global Dairy Trade auction, while whole milk powder posted an unexpected increase amid data showing challenging weather conditions continue to weigh on production. More >>
MARKET CLOSE: NZ shares down; Synlait, Fonterra fall
Tuesday, 20 March 2018, 8:31 pm | BusinessDesk
March 20 (BusinessDesk) - New Zealand shares dropped, with Synlait Milk, A2 Milk Co and Fonterra Shareholders Fund units falling ahead of tomorrow's GlobalDairyTrade auction and results from Synlait and Fonterra Cooperative Group. More >>
NZ dollar pares gains in light trading ahead of Fed review
Tuesday, 20 March 2018, 8:20 pm | BusinessDesk
March 20 (BusinessDesk) - The New Zealand dollar pared overnight gains against the greenback in thin trading as markets focus on the upcoming US Federal Reserve policy review with the Fed widely expected to lift interest rates. More >>
Air NZ's Carter defends airline's independence
Tuesday, 20 March 2018, 7:16 pm | BusinessDesk
Air NZ's Carter defends airline's independence after Shane Jones laments axing of routes More >>
