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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 283]
Social enterprise-focused Impact Enterprise Fund raises $8M
Friday, 9 February 2018, 8:31 pm | BusinessDesk
Social enterprise-focused Impact Enterprise Fund raises $8M in first tilt at $10-$15M target More >>
Augusta to buy NPT management contract for $4.5 mln
Friday, 9 February 2018, 2:23 pm | BusinessDesk
Feb. 9 (BusinessDesk) - Augusta Capital has bought the management contract for real estate investor NPT for $4.5 million, subject to shareholders signing off on the deal at a special meeting next month. More >>
North Island property developer jailed for $52 million fraud
Friday, 9 February 2018, 2:11 pm | BusinessDesk
Feb. 9 (BusinessDesk) - A North Island property developer has been sentenced to four years and seven months in prison for his part in a $52 million mortgage fraud scheme. More >>
NZ shares drop 1.5% as Wall Street corrects
Friday, 9 February 2018, 2:02 pm | BusinessDesk
Feb. 9 (BusinessDesk) - New Zealand shares dropped this morning as US markets enter correction territory, where stocks fall more than 10 percent from a peak, as the prospect of higher interest rates prompts investors to rethink their strategies. More >>
SkyCity first-half profit rises 12%
Friday, 9 February 2018, 12:49 pm | BusinessDesk
Feb. 9 (BusinessDesk) - SkyCity Entertainment Group posted a 12 percent lift in first-half profit on growth from its combined New Zealand properties, a recovery in the international business and stable performance in Australia. New Zealand’s only listed casino ... More >>
NZ dollar gains from 4-week low spurred by 'dovish' RBNZ
Friday, 9 February 2018, 11:57 am | BusinessDesk
Feb. 9 (BusinessDesk) - The New Zealand dollar gained from a four-week low reached yesterday in the wake of a Reserve Bank statement seen by some as dovish and traders expect more volatility as US stocks extend their decline and bond yields rose. More >>
NZ property value gains slow in January
Friday, 9 February 2018, 9:26 am | BusinessDesk
Feb. 9 (BusinessDesk) - New Zealand property values rose at a slower annual pace in January but are expected to pick up in the coming months, says state-owned valuer Quotable Value. More >>
Equities, Treasuries slide as volatility returns
Friday, 9 February 2018, 8:58 am | BusinessDesk
Feb. 9 (BusinessDesk) - Equities on both sides of the Atlantic declined, as did government bonds, while commodities including oil, gold and copper also slid amid concern about higher interest rates. More >>
MARKET CLOSE: NZ shares dip as CBL Corp suspended
Thursday, 8 February 2018, 8:35 pm | BusinessDesk
MARKET CLOSE: NZ shares dip as CBL Corp suspended, Fletcher in halt ahead of downgrade More >>
CDL Investments unfazed by changes to law changes
Thursday, 8 February 2018, 8:25 pm | BusinessDesk
Feb. 8 (BusinessDesk) - Listed-residential property developer CDL Investments New Zealand, controlled by hotel operator Millennium & Copthorne Hotels New Zealand, isn't overly concerned by planned law changes for foreign buyers, although it warns ... More >>
NZ dollar falls after RBNZ stands pat
Thursday, 8 February 2018, 8:09 pm | BusinessDesk
Feb. 8 (BusinessDesk) - The New Zealand dollar fell to a four-week low against the greenback after the central bank kept rates on hold as expected and continued to signal no increases until at least the latter half of next year. More >>
Investore investors back purchase of Bunnings stores
Thursday, 8 February 2018, 8:00 pm | BusinessDesk
Feb. 8 (BusinessDesk) - Investore Property shareholders have backed a proposal to buy three Bunnings retail sites from manager Stride Property Group for $78.5 million. More >>
CBL shares suspended as NZX probes information disclosure
Thursday, 8 February 2018, 7:50 pm | BusinessDesk
Feb. 8 (BusinessDesk) - CBL Corp's shares have been suspended from the NZX due to concerns the market operator's regulation team has about whether the company has given complete and true material information to the market. More >>
Michael Hill warns of A$20 mln hit to first-half earnings
Thursday, 8 February 2018, 7:48 pm | BusinessDesk
Michael Hill warns of A$20 mln hit to first-half earnings on US exit, Emma & Roe closures More >>
RBNZ sits pat on expectation of renewed inflation
Thursday, 8 February 2018, 7:47 pm | BusinessDesk
RBNZ sits pat on expectation of renewed inflation, ready to cut if prices don't rise More >>
NZX's Smartshares emerging markets ETF swells by almost 50%
Thursday, 8 February 2018, 7:20 pm | BusinessDesk
Feb. 8 (BusinessDesk) - NZX's Smartshares emerging markets fund has grown by almost half with an institutional investor subscribing for $28.7 million new units in the passive investment vehicle. More >>
O'Connor wants broad review of Fonterra's enabling law
Thursday, 8 February 2018, 7:12 pm | BusinessDesk
Feb. 8 (BusinessDesk) - Agriculture Minister Damien O'Connor says putting on hold changes to Fonterra's enabling legislation will allow a broader review of New Zealand's dairy sector and whether it is adding enough value to the nation's biggest export ... More >>
Xero shares upgraded to 'buy' at CLSA
Thursday, 8 February 2018, 5:09 pm | BusinessDesk
Feb. 8 (BusinessDesk) - CLSA has upgraded its rating for Xero shares to 'buy' as the Asian brokerage becomes more confident in the New Zealand software developer's growth prospects in coming years. More >>
RBNZ: Narrow yield premium on NZ bonds vs US may widen
Thursday, 8 February 2018, 4:25 pm | BusinessDesk
RBNZ's Spencer says narrow yield premium on NZ bonds vs US may widen again More >>
UPDATE: Fletcher likely working hard to get lenders onside
Thursday, 8 February 2018, 3:44 pm | BusinessDesk
Feb. 8 (BusinessDesk) - Fletcher Building, which expects to breach its debt covenants because of further "material losses" at its building and interiors (B+I) business, is probably in urgent talks with its banking syndicate and investors in the private ... More >>
