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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 314]
'Incremental' LVR changes to have negligible effect on rate
Wednesday, 29 November 2017, 3:48 pm | BusinessDesk
Nov. 29 (BusinessDesk) - The Reserve Bank doesn't anticipate much spillover from its "incremental" relaxation of restrictions on riskier mortgage lending into interest rates, says acting governor Grant Spencer. More >>
UPDATE: Sky TV, Vocus in war of words over website ban
Wednesday, 29 November 2017, 2:33 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Sky Network Television, New Zealand's biggest pay-TV operator, will ask the courts to force internet providers Spark, Vodafone, Vocus and Two Degrees to prevent consumers accessing free streaming sites such as The Pirate Bay, but at ... More >>
Gentrack lifts annual revenue
Wednesday, 29 November 2017, 2:32 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Gentrack Group, the utilities software developer, lifted annual revenue and net profit as a slew of recent acquisitions drove growth. More >>
Sky TV, Vocus in war of words over piracy website ban
Wednesday, 29 November 2017, 2:19 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Sky Network Television, New Zealand's biggest pay-TV operator, has asked the courts to force internet providers Spark, Vodafone, Vocus and Two Degrees to prevent consumers accessing free streaming sites such as The Pirate Bay, but at ... More >>
Pacific Edge narrows first half loss
Wednesday, 29 November 2017, 1:58 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Cancer diagnostics company Pacific Edge narrowed its first-half loss after clamping down on costs by ditching a staff share scheme and lifting revenue. More >>
Future Mobility Solutions turns to a first-half loss
Wednesday, 29 November 2017, 1:02 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Auckland-based Future Mobility Solutions, formerly called Sealegs, turned to a first-half net loss, largely due to litigation costs in an intellectual property case. More >>
RBNZ to scale back lending restrictions as market slows
Wednesday, 29 November 2017, 12:59 pm | BusinessDesk
Nov. 29 (BusinessDesk) - The Reserve Bank will ease restrictions on low-equity mortgage lending from next year as housing market pressures abate after several years of policy efforts to cool rapid house price gains and their accompanying credit expansion. More >>
IkeGPS lifts revenue, cuts loss in first half
Wednesday, 29 November 2017, 12:44 pm | BusinessDesk
Nov. 29 (BusinessDesk) - IkeGPS, the laser measurement toolmaker, upgraded its sales expectations but maintained its breakeven guidance for the full year after revenue lifted and its loss narrowed in the first half. More >>
Steel & Tube confirms guilty plea
Wednesday, 29 November 2017, 12:32 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Steel & Tube Holdings has confirmed that it pleaded guilty to 24 charges laid against it by the Commerce Commission for making false and misleading representations about its steel mesh products. More >>
New hurdles for rural/forest land sales to foreign buyers
Wednesday, 29 November 2017, 12:26 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Foreign buyers of rural land will face tougher requirements to provide additional benefits to the New Zealand economy under new government directives to the Overseas Investment Office which also slash the size of farms covered by OIO ... More >>
Synlait founder Penno to step down as CEO after 12 years
Wednesday, 29 November 2017, 12:05 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Synlait Milk founder and chief executive John Penno is to step down after 12 years leading the Dunsandel-based milk processor, whose shares have almost tripled since listing in July 2013. More >>
NZ dollar little changed before stability report
Wednesday, 29 November 2017, 11:36 am | BusinessDesk
Nov. 29 (BusinessDesk) - The New Zealand dollar was little changed, holding above 69 US cents for the second day, ahead of the Reserve Bank's financial stability report, which may signal an end to measures aimed at cooling the property market. More >>
Powell testimony spurs Wall St gains
Wednesday, 29 November 2017, 11:13 am | BusinessDesk
Nov. 29 (BusinessDesk) - Wall Street climbed to record highs after Jerome Powell, US President Donald Trump’s nominee to succeed Federal Reserve Chair Janet Yellen, said financial rules are “tough enough.” More >>
Steel & Tube quietly pleads guilty to misrepresentation
Tuesday, 28 November 2017, 9:08 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Steel & Tube Holdings has pleaded guilty to 24 charges of making false and misleading representations about its steel mesh products and will be sentenced next March. More >>
MARKET CLOSE: NZ shares down, Mercury and Chorus weaken
Tuesday, 28 November 2017, 8:32 pm | BusinessDesk
MARKET CLOSE: NZ shares down, Mercury and Chorus weaken on international selling, Orion and Trilogy fall on earnings More >>
NZ dollar higher as it finds some favor after heavy selling
Tuesday, 28 November 2017, 8:21 pm | BusinessDesk
Nov. 28 (BusinessDesk) - The New Zealand dollar gained against the Australian dollar and the greenback as it found some renewed favor among investors after being sold down on local political concerns over the past few months. More >>
Kiwibank FinTech Accelerator 2.0 attracts applicants
Tuesday, 28 November 2017, 7:38 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Applications for the Kiwibank FinTech Accelerator 2.0 close at midnight on Dec. 3 and so far there have been more than 50 applicants from New Zealand and abroad. More >>
Silver Fern Farms hires Zespri's Limmer as CEO
Tuesday, 28 November 2017, 7:37 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Silver Fern Farms, New Zealand's biggest meat company, has tapped Zespri International's chief operating officer Simon Limmer as its next chief executive, saying he adds experience in food, manufacturing and key markets such ... More >>
Rangatira ends first-half with $40M cash
Tuesday, 28 November 2017, 7:36 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Rangatira Investments, whose diversified investments include Hellers, the Rainbow's End theme park, and laboratory instruments distributor Bio-Strategy, lifted its cash holdings to $40 million in the first half after making no new investments. More >>
Smartpay first half profit rises on smaller staff wage bill
Tuesday, 28 November 2017, 7:35 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Smartpay Holdings says it has made "significant progress" in the first half of the financial year, as lower wages boosted net profit and offset a drop in sales, while a takeover proposal progresses to due diligence stage. More >>
