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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 323]
Powerhouse Ventures won't proceed with Invert Robotics sale
Tuesday, 14 November 2017, 4:39 pm | BusinessDesk
Nov. 14 (BusinessDesk) - Christchurch-based technology incubator Powerhouse Ventures will not proceed with plans to sell a quarter of its Invert Robotics' holding for $1.3 million as one of the sale conditions has not been satisfied. More >>
Pharmac chief executive Crausaz leaving for private sector
Tuesday, 14 November 2017, 3:36 pm | BusinessDesk
Nov. 14 (BusinessDesk) - Pharmac's chief executive Steffan Crausaz will step down to take up a new role in the private sector in the new year. More >>
Property Ventures liquidator drops Henderson from lawsuit
Tuesday, 14 November 2017, 3:04 pm | BusinessDesk
Nov. 14 (BusinessDesk) - The liquidator of Property Ventures Ltd (PVL) has dropped former managing director David Henderson from its lawsuit against the directors and insurer of the failed investment group saying the former bankrupt has no assets to ... More >>
Sheep meat prices lift to record levels on Chinese New Year
Tuesday, 14 November 2017, 2:58 pm | BusinessDesk
Nov. 14 (BusinessDesk) - New Zealand sheep meat prices are being pushed up to record levels as Chinese buyers look to secure supply ahead of their New Year Celebrations. More >>
OG Oil & Gas likely to cross minimum 50% threshold
Tuesday, 14 November 2017, 2:47 pm | BusinessDesk
Nov. 14 (BusinessDesk) - OG Oil & Gas's partial takeover offer for New Zealand Oil & Gas is likely to reach the minimum 50 percent threshold now its acceptances and shares total more than 36 percent and Zeta Energy has reportedly indicated it will ... More >>
LPF lays judicial complaint against chief justice
Tuesday, 14 November 2017, 2:44 pm | BusinessDesk
Nov. 14 (BusinessDesk) - Litigation funder LPF Group has laid an official complaint about chief justice Sian Elias to the Judicial Complaints Commissioner, over what it says were "unfair and unjustified opinions" in a ruling on a case it ... More >>
Plexure Group narrows its 1H net loss on higher revenue
Tuesday, 14 November 2017, 1:56 pm | BusinessDesk
Nov. 14 (BusinessDesk) - Plexure Group, the mobile voucher firm formerly called VMob, reported a narrower net loss in the first half as it lifted revenue and continued to streamline the business. The result was ahead of guidance. More >>
Tower to raise $70.8 mln at 45% discount to bolster balance
Tuesday, 14 November 2017, 12:29 pm | BusinessDesk
Nov. 14 (BusinessDesk) - Tower wants to raise $70.8 million at a 45 percent discount to bolstered its balance sheet while it continues to contend with escalating costs from the Canterbury earthquakes seven years ago. The insurer narrowed its annual ... More >>
Kiwi Property to sell Wellington's Majestic Centre
Tuesday, 14 November 2017, 12:28 pm | BusinessDesk
Nov. 14 (BusinessDesk) - Kiwi Property Group, which manages a $3 billion portfolio of shopping centres and office buildings, is selling its Majestic Centre office tower in Wellington to Investec Australia Property Fund for $123.2 million. More >>
Ultra-low rates push some investments out of reach
Tuesday, 14 November 2017, 12:17 pm | BusinessDesk
Nov. 14 (BusinessDesk) - Infratil, the investment company managed by HRL Morrison & Co, says ultra-low interest rates since the global financial crisis have pushed some investments out of reach because they have driven up prices of assets with higher ... More >>
NZ dollar dips below 69 US cents
Tuesday, 14 November 2017, 11:48 am | BusinessDesk
Nov. 14 (BusinessDesk) - The New Zealand dollar fell back below 69 US cents after measures of risk appetite and global commodity prices declined and optimism grew that US tax reforms are progressing. More >>
While you were sleeping: General Electric slumps
Tuesday, 14 November 2017, 9:59 am | BusinessDesk
Nov. 14 (BusinessDesk) - Wall Street inched higher as concern about US tax reform plans and a drop in General Electric shares weighed on sentiment at the tail-end of a better-than-expected quarterly earnings season. More >>
MARKET CLOSE: NZ shares mixed, A2 gains on growth
Monday, 13 November 2017, 8:46 pm | BusinessDesk
Nov. 13 (BusinessDesk) - New Zealand shares were mixed, with A2 Milk rising on a positive presentation to investors while Xero and SkyCity Entertainment Group dropped. More >>
NZ dollar edges up against pound as PM May's future weighs
Monday, 13 November 2017, 8:24 pm | BusinessDesk
NZ dollar edges up against pound as UK PM May's future weighs on sterling More >>
Stride sells three Bunnings stores to Investore for $78.5m
Monday, 13 November 2017, 8:10 pm | BusinessDesk
Nov. 13 (BusinessDesk) - Stride Property Group has sold three Bunnings stores to Investore Property, the unit it carved out as a standalone property owner, for $78.5 million after renegotiating the terms of the leases. More >>
Tower trading halt before capital raise, earnings loom
Monday, 13 November 2017, 5:15 pm | BusinessDesk
Nov. 13 (BusinessDesk) - Tower shares have been halted ahead of tomorrow's annual earnings announcement, where the general insurer will unveil details to raise new capital. More >>
A2 Milk, top-performing stock on NZX 50 in 2017
Monday, 13 November 2017, 1:51 pm | BusinessDesk
Nov. 13 (BusinessDesk) - A2 Milk, the best performing stock on the benchmark S&P/NZX 50 Index this year after its annual profit tripled, signalled that growth has continued into the current financial year. More >>
F&P Healthcare wins patent case against ResMed in UK Court
Monday, 13 November 2017, 1:40 pm | BusinessDesk
Nov. 13 (BusinessDesk) - Fisher and Paykel Healthcare Corp has won a patent case against ResMed in the UK in the ongoing intellectual property dispute for its face and nasal masks across various jurisdictions. More >>
Precinct Properties to raises $100 mln in 7-year bond
Monday, 13 November 2017, 1:38 pm | BusinessDesk
Nov. 13 (BusinessDesk) - Precinct Properties New Zealand plans to raise up to $100 million from a seven-year bond offer to repay bank debt. More >>
Summerset buys more land to beef up Casebrook village
Monday, 13 November 2017, 1:08 pm | BusinessDesk
Nov. 13 (BusinessDesk) - Summerset Group has bought more land in Christchurch to add another 71 units to the $100 million Casebrook village which is under construction. More >>
