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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 3]
ANZ Bank raises Australian remediation costs for 2019
Tuesday, 8 October 2019, 3:19 pm | BusinessDesk
ANZ Bank, the Australia-based parent of New Zealand's largest bank, says its annual results will be hit by an A$559 million after-tax charge to cover the costs of remediating over-charging and mis-selling products to its customers. More >>
OceanaGold cleared to buy land for Waihi tailings expansion
Tuesday, 8 October 2019, 3:17 pm | BusinessDesk
In a surprise turnaround, the government has given OceanaGold a greenlight to buy land to expand its Waihi mine after the application was previously turned down by Land Information Minister Eugenie Sage. More >>
Shares in AFT Pharma gain on cannabis deal
Tuesday, 8 October 2019, 3:16 pm | BusinessDesk
Shares in AFT Pharmaceuticals have risen on the news it has signed a memorandum of understanding to work with medicinal cannabis company SETEK. More >>
Shane Jones' PGF quietly made tax-exempt
Tuesday, 8 October 2019, 2:07 pm | BusinessDesk
The government has quietly added Shane Jones' Provincial Growth Fund to the list of government entities that are exempt from paying tax. More >>
Carr named to chair Climate Change Commission
Tuesday, 8 October 2019, 1:43 pm | BusinessDesk
Former Reserve Bank chair Rod Carr has been appointed chair-designate of the independent Climate Change Commission. More >>
Ofer Global Group lifts takeover bid for NZOG by 19%
Tuesday, 8 October 2019, 12:41 pm | BusinessDesk
Ofer Global Group has lifted its offer for minority holders of New Zealand Oil & Gas by 12 cents to 74 cents a share. More >>
Mercury CEO Whineray to leave next year
Tuesday, 8 October 2019, 12:15 pm | BusinessDesk
Mercury NZ chief executive Fraser Whineray will leave the electricity sector next year to take a senior role at Fonterra Cooperative Group. More >>
Summerset's 3Q sales up 11.5% on the year
Tuesday, 8 October 2019, 12:07 pm | BusinessDesk
Summerset Group’s third-quarter sales were up 11.5 percent from a year earlier as resales lifted and new sales remained firm. More >>
Should Australian banks list their NZ subsidiaries on NZX?
Tuesday, 8 October 2019, 11:13 am | BusinessDesk
The Australian expert the Reserve Bank engaged to critique its bank capital proposals has suggested that the big four banks could list on NZX as a means of dealing with the regulator's desire to force them to hold more capital. More >>
NZ dollar dips below 63 US cents on US-China trade worries
Tuesday, 8 October 2019, 11:11 am | BusinessDesk
The New Zealand dollar slipped below 63 US cents as investors remained jittery about the outcome of the US-China trade talks this week. More >>
MARKET CLOSE: NZ shares rise in quiet trading
Monday, 7 October 2019, 9:11 pm | BusinessDesk
New Zealand shares rose in quiet trading, led by Fonterra Shareholders' Fund units which hit a four-month high as investors and suppliers take some confidence in the dairy processor's new strategy. More >>
CORRECT: Fletcher sued for $7.5m over Christchurch project
Monday, 7 October 2019, 8:30 pm | BusinessDesk
Fletcher Building is being sued for $7.5 million by utilities contractor Electrix, one of the subcontractors on the Christchurch Justice and Emergency Services Precinct. More >>
NZ dollar above 63 US cents after recovering
Monday, 7 October 2019, 8:13 pm | BusinessDesk
The New Zealand dollar was little changed after a brief plunge earlier today on the news that China wants to limit the scope of trade talks with the United States set to resume later this week. More >>
Fonterra units, shares up 24% since new strategy unveiled
Monday, 7 October 2019, 6:47 pm | BusinessDesk
Farmer-owned Fonterra Cooperative Group shares and units in the Fonterra Shareholders Fund have gained about 24 percent since the beleaguered cooperative unveiled its new strategy at the end of September. More >>
NZSA to oppose NZOG take-out
Monday, 7 October 2019, 6:46 pm | BusinessDesk
Ofer Global Group’s planned buy-out of the minority holders in New Zealand Oil & Gas is “opportunistic” and will be opposed by the New Zealand Shareholders’ Association. More >>
Fletcher sued for $7.5m over Christchurch justice precinct
Monday, 7 October 2019, 4:46 pm | BusinessDesk
Fletcher Building is being sued for $7.5 million by utilities contractor Electrix, one of the subcontractors on the Christchurch Justice and Emergency Services Precinct. More >>
NZSA to oppose $310k Ebos directors' fee increase
Monday, 7 October 2019, 1:24 pm | BusinessDesk
The New Zealand Shareholders' Association is opposing Ebos Group's proposal to increase directors' fees by 28 percent because the company has refused to release advice it received from external consultants on the matter. More >>
NZ dollar holds above 63 US cents after US jobs data
Monday, 7 October 2019, 11:05 am | BusinessDesk
The New Zealand dollar held above 63 US cents after US employment data weighed on the greenback overnight Friday. More >>
MARKET CLOSE: NZ shares rebound; Kathmandu rises
Friday, 4 October 2019, 11:24 pm | BusinessDesk
New Zealand shares rose after two days of decline, amid a volatile international market. Outdoor retailer Kathmandu helped move the market higher. More >>
NZ dollar rises amid poor US economic data
Friday, 4 October 2019, 11:23 pm | BusinessDesk
The New Zealand dollar rose after poor US economic data suggested growth in the world's largest economy is slowing and as traders covered earlier short positions. More >>
