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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 261]
Major Te Puke kiwifruit orchards marketed to foreign buyers
Monday, 19 March 2018, 12:08 pm | BusinessDesk
March 19 (BusinessDesk) - A block of three kiwifruit orchards in Te Puke is being marketed to foreign buyers, despite the new Labour-led government's plans to restrict overseas investment. More >>
NZ dollar trades near two-week low
Monday, 19 March 2018, 11:51 am | BusinessDesk
March 19 (BusinessDesk) - The New Zealand dollar was little changed near a two-week low in a busy week for potentially market-moving events, including a likely rate hike from the Federal Reserve, the local Reserve Bank's policy review, Fonterra Cooperative ... More >>
World Week Ahead: Focus on Fed meeting, rate path
Monday, 19 March 2018, 9:18 am | BusinessDesk
March 19 (BusinessDesk) - US Federal Reserve officials are widely expected to lift their target interest rate during their two-day policy meeting, the first chaired by Jerome Powell, and investors will closely eye for any signs the central bank might ... More >>
MARKET CLOSE: NZ shares hit record amidst rebalancing
Friday, 16 March 2018, 8:38 pm | BusinessDesk
MARKET CLOSE: NZ shares hit record amidst rebalancing, Comvita and Sky TV gain while Pushpay, A2 drop More >>
NZ dollar heads for 0.5% weekly decline
Friday, 16 March 2018, 8:16 pm | BusinessDesk
March 16 (BusinessDesk) - The New Zealand dollar is headed for a 0.5 percent weekly decline against the greenback on rising risk aversion as markets fret about a possible trade war and more changes in White House Staff More >>
Govt to invest $5 mln in Northland wharves
Friday, 16 March 2018, 8:14 pm | BusinessDesk
March 16 (BusinessDesk) - The government will invest up to $5 million in wharf upgrades in Northland through the provincial growth fund, regional economic development minister Shane Jones said. More >>
Storm CEO buys women's clothing chain from Hallenstein
Friday, 16 March 2018, 8:13 pm | BusinessDesk
March 16 (BusinessDesk) - Deborah Caldwell, the chief executive of the Storm clothing chain, has bought the business from Hallenstein Glasson Holdings for an undisclosed amount. More >>
Port rejects union claims as strike planned for next week
Friday, 16 March 2018, 8:11 pm | BusinessDesk
March 16 (BusinessDesk) - Lyttelton Port Company says it's offering equal terms to members of the Rail and Maritime Transport Union, after talks yesterday broke down and the union said it intends to strike beginning next week. More >>
RBNZ's Spencer tipped to stand pat in final review next week
Friday, 16 March 2018, 8:07 pm | BusinessDesk
March 16 (BusinessDesk) - Economists see no prospect of acting Reserve Bank governor Grant Spencer lifting the official cash rate in his final review next week and do not expect him to deviate from the line that rates are on hold for the foreseeable ... More >>
Veritas shareholders vote in favour of Mad Butcher sale
Friday, 16 March 2018, 4:44 pm | BusinessDesk
March 16 (BusinessDesk) - Veritas Investments shareholders voted to sell the business and assets of the Mad Butcher franchisor to its chief executive Michael Morton for $8 million at a special meeting held today in Auckland. More >>
Failed fashion chain overstated value of inventory
Friday, 16 March 2018, 4:42 pm | BusinessDesk
March 16 (BusinessDesk) - Andrea Moore & Co, the clothing chain that failed in January, "significantly overstated" the value of inventory on its balance sheet and in its stock system, according to receivers McGrathNicol. More >>
UPDATE: NZ dairy manufacturer plans to list on ASX
Friday, 16 March 2018, 4:41 pm | BusinessDesk
UPDATE: NZ dairy manufacturer plans to list on ASX to raise up to A$20M for expansion (Adds detail throughout) By Tina Morrison More >>
Bay of Islands Airport terminal upgrade to get $1.7M
Friday, 16 March 2018, 3:45 pm | BusinessDesk
March 16 (BusinessDesk) - Bay of Islands Airport in Kerikeri's terminal upgrade will get $1.7 million of funding from the provincial growth fund, regional economic development minister Shane Jones has announced. More >>
NZ dairy manufacturer plans to list on ASX
Friday, 16 March 2018, 2:08 pm | BusinessDesk
March 16 (BusinessDesk) - The owners of a South Island dairy manufacturer plan to list their company on the Australian Securities Exchange, raising as much as A$20 million to expand. More >>
NZ manufacturing activity slows in February
Friday, 16 March 2018, 2:06 pm | BusinessDesk
March 16 (BusinessDesk) - New Zealand's manufacturing activity slowed in February as an early livestock cull last year weighed on primary production at the start of 2018. More >>
Shell to sell remaining NZ assets to OMV for US$578 million
Friday, 16 March 2018, 1:03 pm | BusinessDesk
March 16 (BusinessDesk) - Royal Dutch Shell plans to sell its remaining New Zealand business to Austrian oil and gas giant OMV AG for US$578 million, as part of a US$30 billion international divestment programme. More >>
NZME CFO Michael Moran resigns for 'personal reasons'
Friday, 16 March 2018, 12:20 pm | BusinessDesk
March 16 (BusinessDesk) - NZME chief financial officer Michael Moran has resigned from the newspaper publisher and radio station operator for "personal reasons" after a year in the role. More >>
Allbirds shoe company branches out from wool to trees
Friday, 16 March 2018, 11:51 am | BusinessDesk
March 16 (BusinessDesk) - Allbirds, the merino wool shoe company co-founded by former New Zealand football star Tim Brown, is adding wood fibre to the range of materials it uses for a new range of sneakers, at a time when wool prices have climbed 50 percent. More >>
NZ dollar falls as Kudlow talks up greenback
Friday, 16 March 2018, 11:49 am | BusinessDesk
March 16 (BusinessDesk) - The New Zealand dollar declined after comments from US President Donald Trump's new economic adviser Larry Kudlow that he favoured a stronger greenback and as commodity prices fell. More >>
While you were sleeping: Solid US jobs, manufacturing data
Friday, 16 March 2018, 10:36 am | BusinessDesk
March 16 (BusinessDesk) - Wall Street was mixed as solid US jobs and manufacturing data offset a drop in shares of pipeline companies such as Energy Transfer Partners and Williams Cos following a regulator ruling that no longer allows them to recover ... More >>
