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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 330]
KiwiSaver fund still clocking double-digit returns
Wednesday, 1 November 2017, 4:15 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Milford Asset Management's active growth KiwiSaver fund is the only one to deliver annualised double-digit growth over the 10-year life of the state-sponsored savings scheme, Morningstar research shows. More >>
ACC predicts future investment revenues will fall
Wednesday, 1 November 2017, 4:00 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Accident Compensation Corp's investment team delivered a net 5.7 percent return on assets in the 2017 financial year, outperforming its benchmark for the 22nd year, but warned its returns may fall behind increasing claims. More >>
Methven affirms FY profit guidance
Wednesday, 1 November 2017, 2:57 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Shower and tapware designer Methven affirmed its expectation for earnings growth on a constant currency basis in 2018 but said first-half profit won't rise due to planned investment. More >>
NZ third-quarter unemployment sinks to nine-year low
Wednesday, 1 November 2017, 2:06 pm | BusinessDesk
Nov. 1 (BusinessDesk) - New Zealand's jobless rate fell to a nine-year low in September while the impact of $2 billion pay equity settlement for care and support works stoked wage inflation. The kiwi dollar jumped almost half a US cent. More >>
Chorus slows connection defection as it defends fixed lines
Wednesday, 1 November 2017, 1:42 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Chorus says it's slowing the loss of connections to other fibre providers and Spark New Zealand's fixed wireless hybrid after it beefed up effort extolling the benefits of fixed-line telecommunication service. More >>
NZ dollar little changed near 17-month low
Wednesday, 1 November 2017, 11:35 am | BusinessDesk
Nov. 1 (BusinessDesk) - The New Zealand dollar was little changed, holding near a 17-month low on a trade-weighted basis before employment data that may point to an uptick in inflation. More >>
While you were sleeping: Kellogg, Mondelez shares rally
Wednesday, 1 November 2017, 11:08 am | BusinessDesk
Nov. 1 (BusinessDesk) - Wall Street advanced amid better-than-expected corporate earnings including for food companies Kellogg and Mondelez, while US Federal Reserve policy makers began their two-day meeting. More >>
NZ Super Fund plans cornerstone stake in Fidelity Life
Tuesday, 31 October 2017, 8:47 pm | BusinessDesk
Oct. 31 (BusinessDesk) - The New Zealand Superannuation Fund plans to take cornerstone stake of at least $100 million in Fidelity Life, the largest Kiwi-owned life insurer. More >>
MARKET CLOSE: NZ shares rise, rounding out 2.7% monthly gain
Tuesday, 31 October 2017, 8:34 pm | BusinessDesk
MARKET CLOSE: NZ shares rise, rounding out 2.7% monthly gain; Ryman up, Sky TV, NZX down More >>
Oregon Group expects record 2018 on forest products
Tuesday, 31 October 2017, 8:33 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Oregon Group, which manages a New Zealand portfolio of businesses for Malaysia's Tiong family, expects record earnings in 2018 on rising prices for forest products and the completion of apartments in its land development unit. More >>
NZ to ban foreign buyers of existing homes
Tuesday, 31 October 2017, 8:32 pm | BusinessDesk
NZ to ban foreign buyers of existing homes but says change would comply with TPP-11 More >>
NZ dollar falls with business confidence, soft China data
Tuesday, 31 October 2017, 8:31 pm | BusinessDesk
Oct. 31 (BusinessDesk) - The New Zealand dollar extended its decline after business confidence fell, Chinese data was softer than expected and Prime Minister Jacinda Ardern confirmed that foreign speculators will no longer be able to buy houses in ... More >>
New Govt's policies may damp migration but economy stable
Tuesday, 31 October 2017, 8:29 pm | BusinessDesk
New government's policies may damp migration, housing but NZ economic prospects stable: Moody's More >>
No sign of Hotchin lawsuit 19 months after court ruling
Tuesday, 31 October 2017, 6:42 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Former Hanover Finance principal Mark Hotchin hasn't filed a new claim against former trustee New Zealand Guardian Trust in the 19 months since the Supreme Court ruled he could pursue the firm for a contribution to an $18 million ... More >>
Europe puts labour, environmental standards on the table
Tuesday, 31 October 2017, 4:46 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Europe wants to develop a new version of gold-plated trade deals in its negotiations with New Zealand and Australia to deliver tangible benefits for the general population as the tide goes out on globalisation. More >>
NZ business confidence turns pessimistic in October
Tuesday, 31 October 2017, 4:22 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Political uncertainty saw business confidence sour in October as the interregnum before a government coalition was formed stoked negativity across all sectors More >>
Cavalier expects earnings to improve following restructuring
Tuesday, 31 October 2017, 4:06 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Cavalier Corp, the struggling New Zealand carpet maker, expects earnings to improve this financial year and next as it reaps the benefits from restructuring its manufacturing operations, a lower wool price and reducing ... More >>
NZ angel funding drops 12% in first half
Tuesday, 31 October 2017, 3:30 pm | BusinessDesk
Oct. 31 (BusinessDesk) - New Zealand's angel networks and funds scaled back their investments to $20.2 million in the first half of the year and follow-on funding continues to take the bulk of the investment. More >>
Countdown sales rise in first quarter
Tuesday, 31 October 2017, 2:56 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Countdown supermarket sales rose 3.2 percent in the first quarter of the 2018 financial year, boosted by more expensive dairy products and fresh produce. More >>
New dwelling consents fall in September
Tuesday, 31 October 2017, 2:44 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Building consents for new dwellings fell in September from August, in what may be a sign the market is jittery about the new government, although they remained higher on an annual basis. More >>
