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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 288]
Dellaca family's Brandhouse buys Renaissance Brewing
Tuesday, 30 January 2018, 7:46 pm | BusinessDesk
Jan. 30 (BusinessDesk) - Christchurch-based liquor distributor Brandhouse has bought Renaissance Brewing for an undisclosed sum, beating three other offers on the table. More >>
Upside Biotechnologies wins $409k research grant
Tuesday, 30 January 2018, 6:42 pm | BusinessDesk
Jan. 30 (BusinessDesk) - Upside Biotechnologies, a regenerative tissue developer spun out of Auckland University, has won a $409,000 research grant to prepare its PelliCel product for a clinical trial and deepening its existing relationship with ... More >>
Invert Robotics raises $6.4 mln from private investors
Tuesday, 30 January 2018, 6:25 pm | BusinessDesk
Invert Robotics raises $6.4 mln from private investors, expands into Europe By Sophie Boot More >>
IRD says anti-BEPS bill may stoke sales booked in NZ
Tuesday, 30 January 2018, 6:01 pm | BusinessDesk
IRD says anti-BEPS bill may stoke sales booked in NZ, avoids comment on Apple More >>
MPI heads off legal challenge with late change to mānuka def
Tuesday, 30 January 2018, 5:59 pm | BusinessDesk
Jan. 30 (BusinessDesk) - The Ministry for Primary Industries has avoided a legal stoush with local beekeepers over a planned definition of what constitutes mānuka honey as regulators exert greater control over the label. More >>
Five Boroughs liquidation to leave many out of pocket
Tuesday, 30 January 2018, 4:49 pm | BusinessDesk
Jan. 30 (BusinessDesk) - The liquidator for popular Wellington eatery Five Boroughs says employees, the tax department and suppliers owed at least $444,000 will get shortchanged in the administration with a smaller-than-expected return from the residual ... More >>
Comvita will report 1H profit over $3M
Tuesday, 30 January 2018, 2:46 pm | BusinessDesk
Jan. 30 (BusinessDesk) - Comvita expects to report a "significant turnaround" in its first-half results, with net profit over $3 million, and says it is tracking in line with its full-year guidance after good weather in December and January boosted ... More >>
NZ exports, imports hit new record highs in 2017
Tuesday, 30 January 2018, 2:40 pm | BusinessDesk
Jan. 30 (BusinessDesk) - New Zealand exports and imports hit new highs last year as the country earned more from agricultural products and bought more cars and computers. More >>
NZ export log prices hit new record on strong Chinese demand
Tuesday, 30 January 2018, 1:09 pm | BusinessDesk
Jan. 30 (BusinessDesk) - New Zealand export log prices advanced to a new record, driven by continued strong demand from China, lower shipping rates and a favourable currency. More >>
FNZC lifts target price for Oceania Healthcare
Tuesday, 30 January 2018, 12:41 pm | BusinessDesk
Jan. 29 (BusinessDesk) - First New Zealand Capital has increased its target price for Oceania Healthcare despite cutting its profit expectations after the company reported first-half earnings last week. More >>
Powerhouse weighs up legal action
Tuesday, 30 January 2018, 12:33 pm | BusinessDesk
Jan. 30 (BusinessDesk) - Powerhouse Ventures has written off the value of its 30 percent stake in SolarBright and is weighing up legal action after discovering "irregularities" in the solar lighting maker's books a week after its founders quit. More >>
NZ dollar falls as greenback, bond yields rise
Tuesday, 30 January 2018, 11:47 am | BusinessDesk
Jan. 30 (BusinessDesk) - The New Zealand dollar fell against a broadly stronger greenback and rising bond yields on growing conviction the Federal Reserve will keep hiking interest rates. More >>
While you were sleeping: Wall St, Treasuries slide
Tuesday, 30 January 2018, 10:45 am | BusinessDesk
Jan. 30 (BusinessDesk) - Wall Street moved lower, as did US Treasuries, as investors prepared for a week that includes a Federal Reserve meeting, US President Donald Trump’s first State of the Union address and a slew of corporate results including ... More >>
MARKET CLOSE: NZ shares rise in light trading
Monday, 29 January 2018, 8:33 pm | BusinessDesk
Jan. 29 (BusinessDesk) - New Zealand shares gained, led higher by Fisher & Paykel Healthcare Corp and Kathmandu Holdings in quiet trading due to the Auckland Anniversary Day. More >>
NZ dollar steady as Trump comes into focus
Monday, 29 January 2018, 8:30 pm | BusinessDesk
NZ dollar steady as Trump comes into focus, any gains may be capped this week More >>
AgResearch to study breakdown of wool fibres in seawater
Monday, 29 January 2018, 4:07 pm | BusinessDesk
Jan. 29 (BusinessDesk) - Crown research institutes AgResearch and Scion are to embark on a study of how woollen clothing and carpet biodegrades in seawater - research which may boost the appeal of the natural fibre as concern grows about synthetic ... More >>
FNZC slashes Trustpower target price
Monday, 29 January 2018, 3:56 pm | BusinessDesk
Jan. 29 (BusinessDesk) - Trustpower's profit could drop by up to $30 million a year if the Tauranga Electricity Consumers Trust stops paying Trustpower customers in Tauranga around $500 a year in dividends that let the locally headquartered power ... More >>
Rainy weather provides some respite for farmers
Monday, 29 January 2018, 3:47 pm | BusinessDesk
Jan. 29 (BusinessDesk) - Rain over the summer holiday period has provided some respite to farmers over most of the country and slowed the volume of animals being sent to slaughter, underpinning prices, according to AgriHQ's Monthly Sheep & Beef report ... More >>
Synlait Milk reaffirms milk price forecast for 2017/18
Monday, 29 January 2018, 12:21 pm | BusinessDesk
Jan. 29 (BusinessDesk) - Synlait Milk, the NZX-listed milk processor, said it expects to achieve its forecast milk price payout to farmers so long as commodity prices continue to firm for the remainder of the season. More >>
Dollar little changed ahead of Yellen's last policy meeting
Monday, 29 January 2018, 12:01 pm | BusinessDesk
Jan. 29 (BusinessDesk) - The New Zealand dollar was little changed, having climbed about 1 percent last week, as the market awaits Janet Yellen's last policy meeting as chair of the US Federal Reserve and figures on Friday expected to show a shrinking ... More >>
