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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 266]
Wall St awaits Trump tariff announcement
Friday, 9 March 2018, 11:19 am | BusinessDesk
March 9 (BusinessDesk) - Wall Street was mixed as it awaited an update about US President Donald Trump’s plans to impose tariffs on steel and aluminum imports that would prompt a global move towards protectionism. More >>
MARKET CLOSE: NZ shares rise; A2 gains
Thursday, 8 March 2018, 8:35 pm | BusinessDesk
March 8 (BusinessDesk) - New Zealand shares rose, led by A2 Milk Co, while Restaurant Brands and Tegel dropped after updating their earnings guidance. More >>
NZ dollar falls vs Aussie on Australian trade surplus
Thursday, 8 March 2018, 8:34 pm | BusinessDesk
March 8 (BusinessDesk) - The New Zealand dollar slipped against the Australian dollar after figures showed a bigger-than-expected trade surplus across the Tasman. The kiwi was little changed against the US dollar. More >>
Deal close at Lyttleton Port, union says
Thursday, 8 March 2018, 6:57 pm | BusinessDesk
March 8 (BusinessDesk) - Lyttleton Port Company and the Rail and Maritime Transport Union are within “a fag paper” width of reaching an agreement and averting a strike, the union says. More >>
Faafoi rejects anti-dumping duties on Chinese steel imports
Thursday, 8 March 2018, 6:45 pm | BusinessDesk
Faafoi rejects NZ Steel's second bid to get anti-dumping duties on Chinese imports More >>
Foreign property investors ban could kill build-to-rent
Thursday, 8 March 2018, 6:28 pm | BusinessDesk
March 8 (BusinessDesk) - Outspoken rental housing advocate Shamubeel Eaqub warns that by shutting out foreign investors, the Overseas Investment Amendment Bill will make it impossible to build enough new rental properties to meet the country's housing ... More >>
Red Stag plans to invest $20M in timber plant for KiwiBuild
Thursday, 8 March 2018, 4:15 pm | BusinessDesk
Red Stag plans to invest $20M in North Island cross-laminated timber plant to support KiwiBuild More >>
Suncorp's Vero sells Tower stake to Bain Capital
Thursday, 8 March 2018, 4:07 pm | BusinessDesk
March 8 (BusinessDesk) - Suncorp Group's Vero Insurance has sold its cornerstone stake in rival insurer Tower to US private equity firm Bain Capital for $53.9 million, registering a $7.5 million loss in the process. More >>
Manufacturing stats show lift in December
Thursday, 8 March 2018, 3:26 pm | BusinessDesk
March 8 (BusinessDesk) - A lift in the volume and value of New Zealand manufacturing sales in the fourth quarter of 2017 helped solidify economists' views for a solid reading in next week's gross domestic product figures. More >>
Warehouse 1H earnings fall, forecasts full-year to drop
Thursday, 8 March 2018, 1:43 pm | BusinessDesk
March 8 (BusinessDesk) - Warehouse Group confirmed that its first-half earnings fell, and warned its full-year result may drop by about a quarter as it transitions its iconic red shed discount stores to an 'everyday low prices' model and integrates ... More >>
Tegel says 2018 earnings to miss target on one-time costs
Thursday, 8 March 2018, 12:51 pm | BusinessDesk
March 8 (BusinessDesk) - Tegel Group, New Zealand's biggest poultry producer, said full-year profit may drop by as much as a fifth because of slower progress in Australia and one-time costs ranging from compliance rule changes to restructuring and disruptions ... More >>
Restaurant Brands hits FY 2018 sales target
Thursday, 8 March 2018, 12:46 pm | BusinessDesk
March 8 (BusinessDesk) - Restaurant Brands met its sales forecast for 2018, with revenue rising 49 percent to $740.8 million, as acquisitions in Hawaii and Australia bolstered earnings. More >>
NZ dollar little changed as market digests US trade plans
Thursday, 8 March 2018, 11:54 am | BusinessDesk
March 8 (BusinessDesk) - The New Zealand dollar was little changed as US President Donald Trump tweeted that he's asked China to reduce its trade imbalance with America and figures showed the US trade deficit at its highest since October 2008. More >>
Wall St slides as protectionism looms
Thursday, 8 March 2018, 11:16 am | BusinessDesk
March 8 (BusinessDesk) - Wall Street declined, while US Treasuries rose, as concern about a global trade war, sparked by US President Donald Trump’s plans to impose tariffs on steel and aluminum imports, intensified. More >>
Lyttleton Port workers accuse owners of illegal lockout
Wednesday, 7 March 2018, 9:15 pm | BusinessDesk
March 7 (BusinessDesk) - The Rail and Maritime Transport Union says Lyttleton Port Co’s decision not to pay workers over the weekend is an illegal lockout. More >>
MARKET CLOSE: NZ shares fall, MetroGlass sinks to record low
Wednesday, 7 March 2018, 8:42 pm | BusinessDesk
MARKET CLOSE: NZ shares fall, MetroGlass sinks to record low, F&P Healthcare, Fletcher, A2 slide More >>
NZ dollar pares gains as Cohn's exit triggers trade war fear
Wednesday, 7 March 2018, 8:22 pm | BusinessDesk
March 7 (BusinessDesk) - The New Zealand dollar pared earlier gains against the greenback after the resignation of US President Donald Trump's economic advisor Gary Cohn stoked renewed fears of a possible trade war. More >>
Marsden Maritime CEO Graham Wallace to leave at end of month
Wednesday, 7 March 2018, 7:50 pm | BusinessDesk
March 7 (BusinessDesk) - Marsden Maritime Holdings chief executive Graham Wallace will step down from the Northport shareholder at the end of the month, ending almost six years in the job. More >>
Climate change response needs tools that 'bite', Upton says
Wednesday, 7 March 2018, 7:40 pm | BusinessDesk
March 7 (BusinessDesk) - Parliamentary Commissioner for the Environment Simon Upton says New Zealand's legislative response to climate change needs broad, cross-party support to deploy the country's sophisticated tools so they actually "bite". More >>
Westland Milk cuts 2018 milk payout forecast
Wednesday, 7 March 2018, 7:29 pm | BusinessDesk
Westland Milk cuts 2018 milk payout forecast to range of $6.10-$6.40/kgMS citing storm impact More >>
