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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 270]
Tower shares rise 3.7% on dividend plans
Thursday, 1 March 2018, 6:14 pm | BusinessDesk
March 1 (BusinessDesk) - Tower's board plans to reinstate dividend payments after a two-year freeze, having largely laid its Canterbury issues to bed with yesterday's settlement and last year's capital raise leaving the insurer well capitalised. More >>
RBNZ sought interim liquidation after CBL breached orders
Thursday, 1 March 2018, 6:13 pm | BusinessDesk
March 1 (BusinessDesk) - The Reserve Bank of New Zealand says it asked for CBL Insurance (CBLI) to be put into an interim liquidation after the company paid $55 million to overseas companies, breaching the central bank's orders. More >>
MPI says cost of M Bovis response, claims in realm of $95m
Thursday, 1 March 2018, 6:11 pm | BusinessDesk
March 1 (BusinessDesk) - The Ministry for Primary Industries estimates the Mycoplasma bovis outbreak could cost about $95 million in tracking and tracing the spread of the disease and paying compensation to farmers, Parliament's primary production select ... More >>
TVNZ unfazed by promised Radio NZ funding boost
Thursday, 1 March 2018, 4:08 pm | BusinessDesk
March 1 (BusinessDesk) - Television New Zealand is unfazed by government proposals to increase funding for Radio New Zealand that will allow it to produce more video content, the state-owned broadcaster's chief executive, Kevin Kenrick told Parliament's ... More >>
NZ log exports to China at record levels
Thursday, 1 March 2018, 3:28 pm | BusinessDesk
March 1 (BusinessDesk) - New Zealand exported a record volume of logs to China last year as Asia's largest economy clamped down on harvesting its own forests, and the future points to constant or better demand in coming months, according to AgriHQ's ... More >>
NZ terms of trade gain 0.8% to record in fourth quarter
Thursday, 1 March 2018, 2:34 pm | BusinessDesk
March 1 (BusinessDesk) - New Zealand's merchandise terms of trade rose to a record in the fourth quarter after export prices outran imports as the value of trade in both directions rose. More >>
GeoOp lifts revenue in first half but reports wider loss
Thursday, 1 March 2018, 2:33 pm | BusinessDesk
March 1 (BusinessDesk) - GeoOp, the workforce management app developer, lifted total revenue 5 percent in the first half but reported a wider loss before interest, tax, depreciation and amortisation after an unsuccessful attempt to migrate to the Australian ... More >>
Pioneer Capital, NZVIF give up on SLI Systems after a decade
Thursday, 1 March 2018, 1:56 pm | BusinessDesk
March 1 (BusinessDesk) - Private investment firm Pioneer Capital has quit its 9.8 percent holding in SLI Systems after a decade-long stake in the e-commerce software developer. More >>
Bathurst's JV with Talleys drive surge in profit
Thursday, 1 March 2018, 1:37 pm | BusinessDesk
March 1 (BusinessDesk) - Bathurst Resources turned to a profit from ordinary activities in its first-half thanks to the contribution of four months of earnings from its joint venture with Talley's Group, which took control of Solid Energy facilities ... More >>
AWF warns profit will drop on softer construction hiring
Thursday, 1 March 2018, 12:28 pm | BusinessDesk
March 1 (BusinessDesk) - AWF Madison Group, the country's biggest contract labour firm, said it expects profit to fall in the current financial year due to ongoing softness in labour hiring and delays from its migrant construction workforce. More >>
Methven posts flat first-half profit as NZ underperforms
Thursday, 1 March 2018, 12:26 pm | BusinessDesk
March 1 (BusinessDesk) - Methven reported a flat first-half profit as its New Zealand business underperformed with Christchurch activity settling down after the rebuild, but is encouraged by its restructuring plans to widen margins and chase global markets. More >>
NZ King Salmon sees weaker second half on hot summer
Thursday, 1 March 2018, 12:25 pm | BusinessDesk
March 1 (BusinessDesk) - New Zealand King Salmon says the "extraordinarily hot summer" has cut survival rates at its fish farms in the Marlborough Sounds and it expects weaker second-half earnings after profit in the first half soared 81 percent. More >>
NZ dollar gains vs pound on Brexit Irish border impasse
Thursday, 1 March 2018, 11:41 am | BusinessDesk
March 1 (BusinessDesk) - The New Zealand dollar rose against the British pound after a draft legal report from the European Commission on Brexit kept Northern Ireland within its common border region along with the rest of Ireland, effectively creating ... More >>
While you were sleeping: Wall St, Treasuries advance
Thursday, 1 March 2018, 11:00 am | BusinessDesk
March 1 (BusinessDesk) - Wall Street rose, as did US Treasuries, as investors reassessed the outlook for US interest rate increases. More >>
MARKET CLOSE: NZ shares mixed; Sky TV, Fletcher fall
Wednesday, 28 February 2018, 8:35 pm | BusinessDesk
Feb. 28 (BusinessDesk) - New Zealand shares were mixed, with Sky Network Television sinking to a ten-week low while Synlait Milk and Trade Me Group gained. More >>
NZ dollar falls OnFed chair's upbeat economic outlook
Wednesday, 28 February 2018, 8:26 pm | BusinessDesk
NZ dollar falls as Fed chair Powell's upbeat economic outlook prompts US rate rethink More >>
Tower settles with reinsurer Peak Re over policy dispute
Wednesday, 28 February 2018, 7:29 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Tower has reached a settlement with reinsurer Peak Re over a dispute relating to its 2015 adverse conditions cover, and will get about half what it's claimed. More >>
Finney quits chief information officer role at Fletcher
Wednesday, 28 February 2018, 7:26 pm | BusinessDesk
Finney quits chief information officer role at Fletcher that was created by former CEO Adamson More >>
Mad Butcher sale fair to Veritas shareholders
Wednesday, 28 February 2018, 7:22 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Veritas Investment's proposed sale of the Mad Butcher franchisor to chief executive Michael Morton for $8 million is fair to non-associated shareholders, avoiding "more dire" consequences if it doesn't go ahead, says the independent ... More >>
Wellington Drive lines up first acquisition - iProximity
Wednesday, 28 February 2018, 6:30 pm | BusinessDesk
Wellington Drive lines up first acquisition with option to buy iProximity for A$4.3m More >>
