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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 327]
MARKET CLOSE: NZ shares fall as A2, Synlait extend slide
Tuesday, 7 November 2017, 8:33 pm | BusinessDesk
Nov. 7 (BusinessDesk) - New Zealand shares fell as A2 Milk and Synlait Milk, the best-performing companies on the benchmark index this year, extended their decline amid speculation investors who enjoyed the run-up are now booking profits from the ... More >>
NZ dollar rises after RB review announced
Tuesday, 7 November 2017, 8:27 pm | BusinessDesk
NZ dollar rises after Finance Minister says it won't be included in RBNZ overhaul More >>
NZ King Salmon: too soon to tell on new govt and farms
Tuesday, 7 November 2017, 5:19 pm | BusinessDesk
NZ King Salmon says too soon to tell if new govt will hit farm relocations More >>
Mercury takes crack at networks' threat to 'energy freedom'
Tuesday, 7 November 2017, 5:17 pm | BusinessDesk
Nov. 7 (BusinessDesk) - Mercury NZ chief executive Fraser Whineray has lashed out at electricity network monopolies, owners of the wires that deliver power to consumers, saying they represent a threat to people's "energy freedom". More >>
Datacom chief Jonathan Ladd to leave in April next year
Tuesday, 7 November 2017, 5:11 pm | BusinessDesk
Datacom chief Jonathan Ladd to leave in April next year, succeeded by lieutenant Greg Davidson. More >>
UPDATE: Vero drops takeover appeal
Tuesday, 7 November 2017, 4:40 pm | BusinessDesk
Nov. 7 (BusinessDesk) - Suncorp Group-owned Vero Insurance has ditched a planned appeal of a rejected takeover bid for Tower after the New Zealand insurer terminated their arrangement. The shares dropped. More >>
Butter prices softening from record high levels
Tuesday, 7 November 2017, 4:39 pm | BusinessDesk
Nov. 7 (BusinessDesk) - Butter prices are forecast to soften on the GlobalDairyTrade platform overnight as buyers balk at high prices, although analysts say the price is set to remain elevated due to the underlying strong demand and limited supply. More >>
Serious Fraud Office ends four-year Zespri investigation
Tuesday, 7 November 2017, 3:02 pm | BusinessDesk
Nov. 7 (BusinessDesk) - The Serious Fraud Office won't files charges against Zespri Group over dual-invoicing, ending a four-year investigation into the legislated fruit export monopoly. More >>
CORRECT: ‘Steady as she goes’ course for monetary policy
Tuesday, 7 November 2017, 2:58 pm | BusinessDesk
Nov. 7 (BusinessDesk) - Finance Minister Grant Robertson has used his first press conference since taking office to signal to financial markets that the new government remains committed to predictable monetary policy. More >>
US innovation expert: NZ firms must adapt to survive change
Tuesday, 7 November 2017, 1:38 pm | BusinessDesk
Nov. 7 (BusinessDesk) - Change is accelerating and US innovation expert Langdon Morris argues it's critical for businesses to develop effective strategies for survival and success. More >>
NZ govt's operating deficit in line with expectations
Tuesday, 7 November 2017, 1:32 pm | BusinessDesk
NZ govt's operating deficit in line with expectations in first three months; debt below forecast More >>
Evolve expects 1H profit of $7m before non-recurring items
Tuesday, 7 November 2017, 1:30 pm | BusinessDesk
Nov. 7 (BusinessDesk) - Evolve Education said it is on track to post a first-half profit of $7 million not including a non-recurring expense item of $3 million. More >>
NZ shares at record highs has stoked trading activity
Tuesday, 7 November 2017, 12:36 pm | BusinessDesk
Nov. 7 (BusinessDesk) - New Zealand's stock benchmarks have rallied to record highs this year and the gains appear to have added to enthusiasm for the market, with big jumps in trading activity, NZX's operating metrics show. More >>
Westpac NZ's digital transformation can't exclude people
Tuesday, 7 November 2017, 12:27 pm | BusinessDesk
Nov. 7 (BusinessDesk) - Westpac New Zealand's shift to deliver more convenient digital services putting customers in the driver's seat needs to include a reimagining of the nature of work, says chief executive David McLean. More >>
Dollar gains as oil drives commodity index to 9-month high
Tuesday, 7 November 2017, 11:52 am | BusinessDesk
The New Zealand dollar rose after crude oil gained to a two-year high, leading a rally in commodity prices and in currencies tied to exports of raw materials. More >>
Tower terminates Vero deal, says it's open to renegotiations
Tuesday, 7 November 2017, 11:44 am | BusinessDesk
Nov. 7 (BusinessDesk) - Tower has terminated a deal that would have seen Suncorp Group's Vero Insurance take over the New Zealand insurer, but is open to renegotiating a new transaction if a High Court appeal overturns a regulatory block. More >>
MARKET CLOSE: NZ shares follow Australia lower
Monday, 6 November 2017, 9:04 pm | BusinessDesk
Nov. 6 (BusinessDesk) - New Zealand shares fell, led by Westpac Banking Corp after the Australian lender's earnings missed expectations, weighing on other dual-listed financial services firms including Australia & New Zealand Banking Group and ... More >>
NZ dollar edges lower after tepid inflation expectations
Monday, 6 November 2017, 9:03 pm | BusinessDesk
Nov. 6 (BusinessDesk) - The New Zealand dollar dipped against the greenback after inflation expectations remained tepid and after the NZ Debt Management Office postponed a 10-year bond tender. More >>
Debt Management Office, flush with cash, postpones bond
Monday, 6 November 2017, 9:01 pm | BusinessDesk
Nov. 6 (BusinessDesk) - The New Zealand Debt Management Office postponed the launch of an April 20, 2029 nominal bond to 2018, saying the government is flush with cash and it wants to give market participants an opportunity to evaluate any new information ... More >>
Todd Corp sells 16% stake in Maari, Manaia oil fields
Monday, 6 November 2017, 6:35 pm | BusinessDesk
Nov. 6 (BusinessDesk) - Todd Corp sold its 16 percent stake in the Maari and Manaia oil fields off the Taranaki coast to ASX-listed Horizon Oil for US$17.6 million as the country's wealthiest family continues to reshape its energy portfolio. More >>
