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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 284]
Sterling Grace buys out Trustees Executors minorities
Thursday, 8 February 2018, 2:36 pm | BusinessDesk
Feb. 8 (BusinessDesk) - Sterling Grace (NZ) bought out the minority shareholders of Trustees Executors for $4.9 million, valuing the local supervisory firm at $94.4 million, almost four times what the New York-based financial services investor paid ... More >>
AMP New Zealand annual earnings creep up on cost cutting
Thursday, 8 February 2018, 2:12 pm | BusinessDesk
Feb. 8 (BusinessDesk) - AMP's New Zealand financial services division lifted annual earnings 1 percent as a cost-cutting exercise and increased funds under management fattened margins, but the local division is still among units being reviewed by the ... More >>
UPDATE: RBNZ's Spencer keeps OCR at 1.75%
Thursday, 8 February 2018, 12:55 pm | BusinessDesk
Feb. 8 (BusinessDesk) - Acting Reserve Bank governor Grant Spencer kept the official cash rate unchanged at 1.75 percent and continued to signal rates won't lift until the latter half of next year at the earliest due to the lack of inflationary pressure. ... More >>
ERoad looks to raise $6 mln in bigger share purchase plan
Thursday, 8 February 2018, 12:46 pm | BusinessDesk
Feb. 8 (BusinessDesk) - ERoad has opened a share purchase plan for existing shareholders which is larger than initially indicated, following its $15.5 million capital raising last year. More >>
No hikes on the agenda until at least 2019
Thursday, 8 February 2018, 12:26 pm | BusinessDesk
Feb. 8 (BusinessDesk) - Acting Reserve Bank governor Grant Spencer kept the official cash rate unchanged at 1.75 percent and continued to signal that rates won't get raised until the latter half of next year at the earliest due to the lack of inflationary ... More >>
Fletcher sees further 'material losses' at B+I
Thursday, 8 February 2018, 12:06 pm | BusinessDesk
Feb. 8 (BusinessDesk) - Fletcher Building said it expects further "material losses" at its building and interiors (B+I) business and expects to be in breach of its banking covenants once the losses are quantified. Its stock and capital notes were halted ... More >>
Dollar drops below 73 US cts as global volatility subsides
Thursday, 8 February 2018, 11:29 am | BusinessDesk
Feb. 8 (BusinessDesk) - The New Zealand dollar dropped below 73 US cents ahead of the Reserve Bank's policy review which will likely keep interest rates on hold as other central banks are poised to start hiking. More >>
While you were sleeping: Volatility eases, Snap jumps
Thursday, 8 February 2018, 10:59 am | BusinessDesk
Feb. 8 (BusinessDesk) - Wall Street was mixed amid easing volatility as investors opted to focus on bets that the US economy will remain robust, underpinning growth in corporate profits. More >>
MARKET CLOSE: NZ shares fall despite global recovery
Wednesday, 7 February 2018, 9:05 pm | BusinessDesk
Feb. 7 (BusinessDesk) - New Zealand shares fell less than some analysts feared as the local market returned from a day off and global volatility settled down from selling earlier in the week. The dual-listed Australian banks and growth stocks declined. More >>
UPDATE: Bay of Plenty Maori partner with Japan's Imanaka
Wednesday, 7 February 2018, 9:02 pm | BusinessDesk
UPDATE: Bay of Plenty Maori partner with Japan's Imanaka on high-value dairy products More >>
NZ dollar pares gains on looming RBNZ review
Wednesday, 7 February 2018, 8:26 pm | BusinessDesk
Feb. 7 (BusinessDesk) - The New Zealand dollar got a strong lift from positive jobs data but pared the gains late in the day ahead of tomorrow's Reserve Bank's monetary policy review when it may attempt to jawbone the currency lower. More >>
South Port first-half profit climbs 19%
Wednesday, 7 February 2018, 8:20 pm | BusinessDesk
Feb. 7 (BusinessDesk) - South Port New Zealand, which operates the country's southern-most port, lifted first-half profit 19 percent as cargo volumes were bolstered by fertiliser shipments, and it anticipates bigger annual earnings. More >>
Sage says Sullivan Mine didn't meet economic benefit test
Wednesday, 7 February 2018, 7:57 pm | BusinessDesk
Feb. 7 (BusinessDesk) - Bathurst Coal couldn't persuade Land Information Minister Eugenie Sage that its plan to buy Solid Energy's mothballed Sullivan Mine on the Denniston Plateau was a good enough deal for New Zealand. More >>
NZ's tight labour market "about skills, not capacity"
Wednesday, 7 February 2018, 5:26 pm | BusinessDesk
Feb. 7 (BusinessDesk) - New Zealand's high underemployment rate indicates spare capacity in the labour market, and complaints by firms struggling to find labour are largely due to the mix of skills rather than sheer numbers, economists say. More >>
CBL expects credit downgrade as it seeks to raise capital
Wednesday, 7 February 2018, 4:44 pm | BusinessDesk
CBL expects credit downgrade as it seeks to raise capital after RBNZ, Irish central bank investigations More >>
Hamilton airport operator buys hotel out of receivership
Wednesday, 7 February 2018, 4:42 pm | BusinessDesk
Feb. 7 (BusinessDesk) - Waikato Regional Airport, which operates Hamilton airport, bought the Hamilton Airport Hotel and Conference Centre out of messy receivership for $3 million as it seeks to cut its reliance on regulated transport revenue. More >>
Seadragon shares gain on improved earnings outlook
Wednesday, 7 February 2018, 3:06 pm | BusinessDesk
Feb. 7 (BusinessDesk) - Seadragon shares swam against the market today, rising on the company's forecast for earnings to improve in the current financial year with solid demand for its fish oil products. More >>
Pacific Edge shares up 3.8% on US insurance provider deal
Wednesday, 7 February 2018, 3:04 pm | BusinessDesk
Feb. 7 (BusinessDesk) - Pacific Edge's shares jumped despite broad-based selling on the local index today, after the cancer diagnostics company announced a deal with a US insurance provider network. More >>
NZ 4Q jobless rate falls to 4.5% with little wage inflation
Wednesday, 7 February 2018, 2:02 pm | BusinessDesk
Feb. 7 (BusinessDesk) - New Zealand's jobless rate fell to a fresh nine-year low in the December quarter but an influx of workers has kept a lid on wage inflation, something that will likely add to the view the central bank will continue to signal ... More >>
ASB Bank first-half earnings rise as bad debt charges fall
Wednesday, 7 February 2018, 1:48 pm | BusinessDesk
Feb. 7 (BusinessDesk) - ASB Bank, the local unit of Commonwealth Bank of Australia, lifted first-half earnings 15 percent as impairment charges on bad debt almost halved and credit growth remained robust at a slightly wider margin. More >>
