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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 329]
BNZ annual earnings gain as fatter loan book boosts income
Thursday, 2 November 2017, 2:32 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Bank of New Zealand's annual earnings rose 7.9 percent as the lender's expanding loan book fattened income at skinnier margins while the dairy sector's recovery this year cut bad debt charges. More >>
No govt support for Auckland port expansion: Ardern
Thursday, 2 November 2017, 2:30 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Prime Minister Jacinda Ardern has poured cold water on the Ports of Auckland's proposal to extend one of its wharves by 13 metres into Waitemata Harbour, just hours after the proposal was released. More >>
UPDATE: NZ King Salmon shares hit record on guidance uplift
Thursday, 2 November 2017, 2:15 pm | BusinessDesk
Nov. 2 (BusinessDesk) - New Zealand King Salmon Investments shares rose to a record after the fish farmer raised its 2018 earnings guidance, saying it expects to lift volumes while maintaining prices and improving production. More >>
Briscoe Group sales tick up in Q3
Thursday, 2 November 2017, 2:04 pm | BusinessDesk
Briscoe Group said its third-quarter sales were higher on the year after a rebound in October and managing director Rod Duke said the strong jobs market and improving rural incomes bode well for the final quarter of the year. More >>
Allied Farmers unsure about the year ahead
Thursday, 2 November 2017, 1:00 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Allied Farmers' first-quarter livestock earnings fell, although the rural services firm says it's too early to say whether it will recover by the end of the current half or the financial year. More >>
Fonterra maintains forecast for stronger 2018 payout
Thursday, 2 November 2017, 12:52 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Fonterra Cooperative Group has maintained its forecast for a stronger payout to its farmers for the 2018 season despite the recent decline in dairy prices on the GlobalDairyTrade platform. More >>
Tilt Renewables sinks into the red as wind generation wanes
Thursday, 2 November 2017, 12:19 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Tilt Renewables, the wind and solar generation facilities which split from Trustpower last year, posted a first-half loss after weak wind generation on both sides of the Tasman sapped electricity production. More >>
NZ King Salmon raises 2018 earnings forecast
Thursday, 2 November 2017, 12:18 pm | BusinessDesk
Nov. 2 (BusinessDesk) - New Zealand King Salmon Investments, the world's largest aquaculture producer of king salmon, raised its forecast for 2018 annual earnings as the business tracks better than expected. More >>
NZ dollar falls as Fed leaves December rate hike live
Thursday, 2 November 2017, 11:43 am | BusinessDesk
Nov. 2 (BusinessDesk) - The New Zealand dollar fell from its highest levels in more than a week after the Federal Reserve cited "solid" economic activity and a strengthening labour market in its policy review, keeping alive prospects of a ... More >>
While you were sleeping: Fed bolsters December hike bets
Thursday, 2 November 2017, 10:45 am | BusinessDesk
Nov. 2 (BusinessDesk) - Wall Street was mixed, after the three US benchmark equity indexes touched fresh record highs, amid optimism about corporate earnings, while Federal Reserve policy makers cemented bets for a December interest rate increase. More >>
'Frenzy' goes out of NZ housing market
Thursday, 2 November 2017, 10:34 am | BusinessDesk
Nov. 2 (BusinessDesk) - New Zealand property value growth slowed to an annual pace of 3.9 percent in October as inflated Auckland house prices fell for the first time in six years. More >>
Topshop operator in negative equity after losses
Wednesday, 1 November 2017, 8:41 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Top Retail, which operated the local Top Shop and Topman stores, was in negative equity after generating $4.1 million of losses in its three-year life in New Zealand. More >>
MARKET CLOSE: NZ shares down, A2 and Synlait fall
Wednesday, 1 November 2017, 8:35 pm | BusinessDesk
MARKET CLOSE: NZ shares down, A2 and Synlait fall from pedestal as Metro Glass, Fletcher drop More >>
Dollar rallies as strong labour market points to inflation
Wednesday, 1 November 2017, 8:18 pm | BusinessDesk
Nov. 1 (BusinessDesk) - The New Zealand dollar rose after the jobless rate fell to a nine-year low in September and wage inflation picked up. More >>
Fairfax NZ buys out profitable Neighbourly
Wednesday, 1 November 2017, 7:31 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Fairfax New Zealand, which is rebranding it as its flagship news website Stuff, has taken control of the hyper-local Neighbourly website for an undisclosed sum in what's emerging as an alternative strategy for the media group ... More >>
Fidelity to channel Super Fund injection into innovation
Wednesday, 1 November 2017, 6:56 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Fidelity Life will use a $100 million capital injection from the New Zealand Superannuation Fund to help pay for future growth and new innovation, with a focus on the insurer's digital capability and platforms, says chief executive ... More >>
Evolve Education appoints Mark Finlay as chief executive
Wednesday, 1 November 2017, 6:55 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Evolve Education has appointed interim chief executive Mark Finlay to the top role, effectively immediately. More >>
A2 shares slump 11% as investors call time on stellar run
Wednesday, 1 November 2017, 6:53 pm | BusinessDesk
Nov. 1 (BusinessDesk) - A2 Milk Co shares slumped 11 percent as investors cashed in on a stellar run in the stock which had been up more than 300 percent this year. More >>
Government's pay-equity focus may fuel wage inflation
Wednesday, 1 November 2017, 5:19 pm | BusinessDesk
Nov. 1 (BusinessDesk) - A $2 billion pay equity settlement pushed up wage inflation in the September quarter and pay pressure may continue to accelerate because the new government plans to dump a bill that would have stymied similar deals. More >>
Electricity regulator sees long future for Tiwai Point
Wednesday, 1 November 2017, 5:15 pm | BusinessDesk
Nov. 1 (BusinessDesk) - New Zealand's abundant renewable electricity may be the saviour of the Tiwai Point aluminium smelter, attract energy-intensive industries to New Zealand and eventually see electricity exported across the Tasman Sea to Australia, ... More >>
