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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 280]
NZ guest nights continue to rise in December
Thursday, 15 February 2018, 2:30 pm | BusinessDesk
Feb. 15 (BusinessDesk) - New Zealand guest nights rose 4 percent in December from a year earlier as the number of international visitors continued to rise and many traveled to the South Island. More >>
Formica may be non-core, saleable asset for Fletcher
Thursday, 15 February 2018, 2:26 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Fletcher Building paid US$700 million to buy Formica Corp from private equity owners Cerberus Capital Management and Oaktree Capital Management in 2007. It may be a good time to sell a business that sits outside its core operations, ... More >>
NZ Super Fund's Matt Whineray to be acting CEO
Thursday, 15 February 2018, 1:54 pm | BusinessDesk
Feb. 15 (BusinessDesk) - New Zealand Superannuation Fund chief investment officer Matt Whineray will take over as acting chief executive when Adrian Orr leaves to take up his new role as governor of the Reserve Bank in March. More >>
UPDATE: Skellerup lifts 1H profit 31%
Thursday, 15 February 2018, 1:53 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Skellerup Holdings shares jumped to a record after the rubber goods manufacturer lifted first-half profit 31 percent thanks to a "standout" performance from its industrial unit which boosted earnings 40 percent. More >>
NZ house sales rise in January for first time in seven mths
Thursday, 15 February 2018, 12:43 pm | BusinessDesk
Feb. 15 (BusinessDesk) - The number of property sales across New Zealand rose in January for the first time in seven months but people are taking more time to purchase, according to the Real Estate Institute. More >>
Skellerup lifts 1H profit 31%, citing 'standout' performance
Thursday, 15 February 2018, 12:40 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Skellerup Holdings lifted first-half profit 31 percent thanks to a "standout" performance from its industrial unit which boosted earnings 40 percent, and it forecast an increase in full-year profit. More >>
NZD gains on stronger US inflation data, weaker retail sales
Thursday, 15 February 2018, 11:54 am | BusinessDesk
Feb. 15 (BusinessDesk) - The New Zealand dollar rose as the market digested stronger-than-expected US inflation data and weaker American retail sales. The figures came after data showed a modest increase in NZ food prices while a survey showed a lift in inflation expectations. More >>
While you were sleeping: Wall St moves higher on data
Thursday, 15 February 2018, 11:15 am | BusinessDesk
Feb. 15 (BusinessDesk) - Wall Street climbed as investors assessed the impact of US reports showing stronger-than-expected inflation and an unexpected drop in retail sales on expectations for the pace of Federal Reserve interest rate increases this ... More >>
MARKET CLOSE: NZ shares dragged lower by Fletcher Building
Wednesday, 14 February 2018, 8:32 pm | BusinessDesk
Feb. 14 (BusinessDesk) - New Zealand shares were mixed as Fletcher Building plunged 9.3 percent after the company unveiled further provisions at Building + Interiors (B+I) that bring two-year losses at the unit to $952 million. More >>
NZ dollar rises on growing inflation expectations
Wednesday, 14 February 2018, 8:18 pm | BusinessDesk
Feb. 14 (BusinessDesk) - The New Zealand dollar rose after the Reserve Bank's survey of expectations showed firms are predicting inflationary pressures, and ahead of US inflation which may offer a steer on the Federal Reserve's interest rate track. More >>
Tilt bids for Victorian supply contract
Wednesday, 14 February 2018, 8:09 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Tilt Renewables is bidding for a 15-year power contract with the Victorian state government and would use both new equity and debt to build an A$600 million, 80-turbine wind farm to supply the renewably-sourced electricity. More >>
Robertson confident in NZ economy
Wednesday, 14 February 2018, 7:26 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Finance Minister Grant Robertson says he's not immediately concerned interest rates will impact peoples' abilities to pay their mortgages, but the government is "keeping an eye" on global market directions. More >>
NZ firms lift 2-year inflation expectations
Wednesday, 14 February 2018, 7:25 pm | BusinessDesk
Feb. 14 (BusinessDesk) - New Zealand firms lifted their two-year inflation expectations and growth forecasts, pushing up the kiwi dollar by pointing to inflationary pressures emerging after a long hiatus. More >>
Investors have 4-month wait for 'new-look' Fletcher Building
Wednesday, 14 February 2018, 7:24 pm | BusinessDesk
Investors have 4-month wait for 'new-look' Fletcher Building that may shed B+I More >>
Genesis Energy irks greenies with plans to keep burning coal
Wednesday, 14 February 2018, 6:25 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Genesis Energy has pushed back plans to stop burning coal for power generation to 2030, a move that has sparked the ire of environmentalists. More >>
IAG's first-half NZ earnings soar 231% on lack of quakes
Wednesday, 14 February 2018, 2:58 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Insurance Australia Group's first-half earnings in New Zealand more than tripled as an absence of earthquakes and natural disasters kept a lid on claims for the country's biggest general insurer. More >>
NZ food prices rise at 0.8% annual rate in January
Wednesday, 14 February 2018, 2:22 pm | BusinessDesk
NZ food prices rise at 0.8% annual rate in January, slowest gain in nine months More >>
Govt warned salmon industry will face public resentment
Wednesday, 14 February 2018, 2:09 pm | BusinessDesk
Feb. 14 (BusinessDesk) - The government has published a report by an independent panel recommending three Marlborough Sounds salmon farms be relocated to more environmentally sustainable sites, with Fisheries Minister Stuart Nash saying he is "some months" ... More >>
UPDATE: Genesis Energy lifts first half earnings 28% on strong wholesale demand
Wednesday, 14 February 2018, 1:23 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Genesis Energy lifted first-half earnings 28 percent as low hydro-lake levels in the South Island boosted the company's demand for wholesale electricity and announced plans to completely phase out coal use by 2030. More >>
UPDATE: Fletcher stock drops 13% as Norris steps down
Wednesday, 14 February 2018, 1:06 pm | BusinessDesk
UPDATE: Fletcher stock drops 13% as Norris steps down, B+I provision increased by $486M More >>
