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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 27]
NZ dollar takes breather; investors eye US-China trade
Monday, 12 August 2019, 8:21 pm | BusinessDesk
Aug. 12 (BusinessDesk) - The New Zealand dollar was little changed as the market absorbed the after-shocks from last week’s big rate cut from the Reserve Bank and as investors await further developments in the US-China trade war. More >>
JB Hi-Fi's NZ sales nudge higher as turnaround continues
Monday, 12 August 2019, 7:18 pm | BusinessDesk
Aug. 12 (BusinessDesk) - JB Hi-Fi's New Zealand sales nudged higher as the Australian discount consumer electronics retailer continued its turnaround plan for an underperforming Kiwi business. More >>
NZSA to vote against Xero's proposed $800k increase
Monday, 12 August 2019, 7:17 pm | BusinessDesk
Aug. 12 (BusinessDesk) - The New Zealand Shareholders’ Association says it will vote the Xero proxies it holds against the resolution to increase maximum directors’ fees by $800,000 to $2.2 million. More >>
Owner-occupier debt-to-income ratios trending down
Monday, 12 August 2019, 7:16 pm | BusinessDesk
Aug. 12 (BusinessDesk) - The number of mortgage borrowers with debt-to-income ratios greater than five has fallen to 31 percent in June from 37 percent two years earlier, according to new data the Reserve Bank is collecting. More >>
Bankruptcy application against Mainzeal’s Yan
Monday, 12 August 2019, 4:52 pm | BusinessDesk
Aug. 12 (BusinessDesk) - The liquidators for Mainzeal say they have been forced to use bankruptcy proceedings to get $18 million out of former director Richard Yan. More >>
UPDATE: Fonterra scraps dividend on expected FY loss
Monday, 12 August 2019, 3:53 pm | BusinessDesk
Aug. 12 (BusinessDesk) - Fonterra Cooperative Group expects to report a full-year loss of up to $675 million and won't pay a dividend as it slashes the carrying value of assets around the world. It also didn't meet its $800 million debt reduction target ... More >>
Farmers even gloomier about economy on heightened trade fear
Monday, 12 August 2019, 3:40 pm | BusinessDesk
Aug. 12 (BusinessDesk) - New Zealand's farmers got even gloomier about the state of the economy as the lingering US-China trade stoush and looming Brexit deadline threaten to undermine global trade. More >>
Card spending dips in July
Monday, 12 August 2019, 2:44 pm | BusinessDesk
Aug. 12 (BusinessDesk) - Seasonally-adjusted electronic card spending dipped in July by 0.1 percent after being flat in June, according to Stats NZ. More >>
Hallenstein Glasson says FY profit edges up
Monday, 12 August 2019, 1:11 pm | BusinessDesk
Aug. 12 (BusinessDesk) - Hallenstein Glasson Holdings said annual profit rose about 2 percent as its womenswear chain maintained sales momentum on both sides of the Tasman but its menswear stores struggled. More >>
UPDATE: Contact FY operating earnings up 12%
Monday, 12 August 2019, 12:47 pm | BusinessDesk
Aug. 12 (BusinessDesk) - Contact Energy said full-year operating earnings from continuing operations rose 12 percent, boosted by a strong performance from the firm’s generation and wholesale business. More >>
Tourism Holdings says US tax benefit helped it beat guidance
Monday, 12 August 2019, 12:34 pm | BusinessDesk
Aug. 12 (BusinessDesk) - Tourism Holdings said annual earnings beat its downgraded guidance due to a one-off tax gain in the US. More >>
FIRST CUT: Contact Energy FY operating earnings up 12%
Monday, 12 August 2019, 12:06 pm | BusinessDesk
Aug. 12 (BusinessDesk) - Contact Energy said full-year operating earnings from continuing operations rose 12 percent, boosted by a strong performance from the firm’s generation and wholesale business. More >>
Fonterra expects FY loss of up to $675m
Monday, 12 August 2019, 12:05 pm | BusinessDesk
Aug. 12 (BusinessDesk) - Fonterra Cooperative Group said it expects to report a full-year loss of $590 million to $675 million and that it won't pay a dividend as it slashes the carrying value of assets around the world. More >>
Weak GDT auction a sign of China's weakening power?
Monday, 12 August 2019, 11:03 am | BusinessDesk
Aug. 12 (BusinessDesk) - Weaker-than-expected prices in last week's GlobalDairyTrade auction could be an early sign that Chinese buyers are feeling their weaker purchasing power as the yuan devalues, says Mark Lister, head of wealth research at Craigs Investment ... More >>
NZ dollar range-bound as US-China trade tensions continue
Monday, 12 August 2019, 11:00 am | BusinessDesk
Aug. 12 (BusinessDesk) - The New Zealand dollar is range-bound as trade tensions continue to drive sentiment. More >>
Rakon outlines 5G challenges 'just around the corner'
Friday, 9 August 2019, 9:04 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Rakon told shareholders it is in the best position possible to make money from the roll-out of 5G mobile services, but any impact won’t be seen until the fourth quarter of the next financial year at the earliest. More >>
MARKET CLOSE: NZ shares edge lower
Friday, 9 August 2019, 9:03 pm | BusinessDesk
Aug. 9 (BusinessDesk) - New Zealand shares edged lower as investors prepare for earnings season to kick into life, with the outlook for dividends a key feature after the Reserve Bank's surprisingly steep rate cut this week. More >>
NZ dollar heads for 0.8% weekly decline on RBNZ shock
Friday, 9 August 2019, 8:41 pm | BusinessDesk
Aug. 9 (BusinessDesk) - The New Zealand dollar was little changed as the dust settled from the Reserve Bank’s shock slashing of interest rates earlier this week and investors were unfazed by deputy governor Geoff Bascand’s speech elaborating on ... More >>
RBNZ isn’t here to surprise, deputy governor says
Friday, 9 August 2019, 8:40 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Reserve Bank deputy governor Geoff Bascand has told an audience of businesspeople the central bank won’t keep surprising as it did when it slashed the official cash rate on Wednesday. More >>
Food waste massive contributor to global emissions - IPCC
Friday, 9 August 2019, 3:45 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Agriculture, forestry and other land use may be responsible for 23 percent of global greenhouse gas emissions, but food waste is also a major culprit, according to a new report from the Intergovernmental Panel on Climate Change. More >>
