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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 26]
Fonterra woes a drag for two biggest shareholders
Wednesday, 14 August 2019, 3:27 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Fonterra Cooperative Group's two biggest shareholders – Dairy Holdings and state-owned Landcorp Farming – say the latest downgrade will weigh on their own earnings and add to farmer malaise against a backdrop of already ... More >>
Cannasouth issues shares to fund cultivation facility
Wednesday, 14 August 2019, 3:16 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Cannasouth will raise another $1 million from an issue of new shares, just two months after its initial public offer, to fund a joint venture to build and own a cannabis cultivation facility. More >>
SkyCity's profit dips as high rollers win more than epected
Wednesday, 14 August 2019, 1:56 pm | BusinessDesk
Aug. 14 (BusinessDesk) - SkyCity Entertainment Group’s full year net profit dipped as it faced a bigger tax bill and ended up paying more than expected to lucky high rollers but underlying earnings beat expectations. More >>
Infratil directors' fee increase gets NZSA tick of approval
Wednesday, 14 August 2019, 12:45 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Days after announcing that it will vote against Xero’s proposed increase in directors’ fees, the New Zealand Shareholders’ Association is holding out Infratil as an example of best practice of how to go about getting ... More >>
NZ dollar gets lift from tariff delay on some China goods
Wednesday, 14 August 2019, 11:35 am | BusinessDesk
Aug. 14 (BusinessDesk) - The New Zealand dollar gained against the Japanese yen as risk appetite got a solid lift from news that some US tariffs would be delayed. More >>
MARKET CLOSE: NZ shares join global lull
Tuesday, 13 August 2019, 8:57 pm | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand shares joined a global decline as investors remain unnerved by heightened geopolitical tensions. Domestic earnings met expectations but failed to stoke local investor confidence. More >>
NZ dollar stalled; Hong Kong latest focus of China worries
Tuesday, 13 August 2019, 8:33 pm | BusinessDesk
Aug. 13 (BusinessDesk) - The New Zealand dollar was little changed as investors eyed the unrest in Hong Kong amid speculation as to what China may do next after calling anti-government protests the first signs of “terrorism.” More >>
Foodstuffs disappointed at Countdown case
Tuesday, 13 August 2019, 8:31 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Pak’nSave owner Foodstuffs said it is disappointed a fight over lease covenants will likely play out in secret, following a High Court ruling. More >>
Govt too blase about AI threat, visiting professor warns
Tuesday, 13 August 2019, 4:39 pm | BusinessDesk
Aug. 13 (BusinessDesk) - London School of Economics professor Robert Wade says officials in Wellington are too blase about the impact of artificial intelligence, one of four factors he sees contributing to how the “Trump era” could last 30 years. More >>
UPDATE: NZX forecasts profit rise
Tuesday, 13 August 2019, 4:16 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Stock exchange operator NZX’s first-half net profit jumped 46 percent but only because losses from since sold businesses dragged down the previous first-half result, although it is predicting a better full-year result. More >>
Vodafone lands Microsoft executive for business role
Tuesday, 13 August 2019, 3:49 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Vodafone New Zealand boss Jason Paris has made a key appointment to the telco’s executive team, snaring Microsoft executive Lindsay Zwart. More >>
Government statistician falls on sword after census review
Tuesday, 13 August 2019, 2:50 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Government statistician Liz MacPherson has resigned after the release of an independent review of New Zealand’s 2018 census. More >>
Meat prices boost July food prices
Tuesday, 13 August 2019, 2:41 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Rising chicken, lamb and beef prices helped push New Zealand’s food prices higher in July. More >>
NZX forecasts profit rise as growth initiatives pay off
Tuesday, 13 August 2019, 1:12 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Stock exchange operator NZX’s first-half net profit jumped 46 percent but only because losses from since sold businesses dragged down the previous first-half result, although it is predicting a better full-year result. More >>
Wrightson earnings slide as gloomy farmers cut spending
Tuesday, 13 August 2019, 1:06 pm | BusinessDesk
Aug. 13 (BusinessDesk) - A skinnier PGG Wrightson reported a 29 percent slide in annual earnings from its remaining businesses as the Mycoplasma bovis outbreak curbed spending by farmers. More >>
Property values outside Auckland reach record high
Tuesday, 13 August 2019, 1:02 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Property values outside Auckland have reached a record high, the Real Estate Institute of New Zealand's (REINZ) latest House Price Index shows. More >>
Summerset Group's total assets jump 24% to $3b
Tuesday, 13 August 2019, 12:22 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Summerset Group reported a slightly lower first half net profit as valuation gains for the retirement village operator and developer continued to ease but its total assets jumped to more than $3 billion. More >>
Renewables shift may increase power price volatility
Tuesday, 13 August 2019, 11:36 am | BusinessDesk
Aug. 14 (BusinessDesk) - Wholesale electricity prices may be more volatile for “a few years” as the country replaces more of its gas-fired generation with renewable supplies, Contact Energy says. More >>
NZ dollar weighed by tensions in Hong Kong
Tuesday, 13 August 2019, 11:08 am | BusinessDesk
Aug. 13 (BusinessDesk) - The New Zealand dollar fell as global risk appetite was dented by escalating tensions in Hong Kong and political ructions in Argentina. More >>
MARKET CLOSE: NZ shares flatline in light trading
Monday, 12 August 2019, 9:53 pm | BusinessDesk
Aug. 12 (BusinessDesk) - New Zealand shares barely budged in relatively light trading as Contact Energy met earnings expectations in kicking off the reporting season. Fonterra Shareholders' Fund units sank as the dairy giant dashed hopes for a dividend ... More >>
