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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 331]
Crane activity slows in Christchurch
Tuesday, 31 October 2017, 2:28 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Construction activity is slowing in Christchurch, Dunedin and Hamilton and picking up in Wellington, Auckland and Queenstown, based on the RLB Crane Index which measures the construction industry's workload in key New Zealand ... More >>
PGG Wrightson says earnings growth to stall in 2018
Tuesday, 31 October 2017, 12:19 pm | BusinessDesk
Oct. 31 (BusinessDesk) - PGG Wrightson said earnings growth will stall this year after a wet winter and spring and said it will embark on a strategic review following the appointment of new chief executive Ian Glasson. More >>
NZX third quarter revenue shrinks 4.4%
Tuesday, 31 October 2017, 12:18 pm | BusinessDesk
Oct. 31 (BusinessDesk) - NZX posted a 4.4 percent decline in third-quarter revenue as a tepid environment for new listings weighed on the stock market operator's income. More >>
Kiwi Wealth takes aim at blunt sector exclusions
Tuesday, 31 October 2017, 11:43 am | BusinessDesk
Oct. 30 (BusinessDesk) - Kiwi Wealth has launched a broadside at its rivals over their use of blanket sector exclusions when trying to meet growing consumer demand for responsible investment, saying it falls short of international best practice ... More >>
NZ dollar gains amid talk of staged US tax cuts
Tuesday, 31 October 2017, 11:38 am | BusinessDesk
Oct. 31 (BusinessDesk) - The New Zealand dollar rose in a week that features policy reviews from the Bank of Japan, Federal Reserve and Bank of England as reports of staged tax cuts in the US weighed on the greenback. More >>
While you were sleeping: Concern on US tax reform
Tuesday, 31 October 2017, 11:17 am | BusinessDesk
Oct. 31 (BusinessDesk) - Wall Street slid amid concern about the highly-anticipated tax reform by the Trump administration, while shares of Merck dropped amid disappointment about one of its key drugs. More >>
MARKET CLOSE: NZ shares heading for 2.5% gain in October
Monday, 30 October 2017, 8:32 pm | BusinessDesk
MARKET CLOSE: NZ shares heading for 2.5% gain in October despite election; Scales, Synlait, A2 gain More >>
NZ dollar falls as market digests Robertson comments on RBNZ
Monday, 30 October 2017, 8:21 pm | BusinessDesk
Oct. 30 (BusinessDesk) - The New Zealand dollar fell as traders digested comments from Finance Minister Grant Robertson that the Reserve Bank's mandate will be widened, while offshore, the announcement of the new Federal Reserve chair is keenly awaited. More >>
Christchurch City chases Aon for $528M damages
Monday, 30 October 2017, 7:22 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Christchurch City Council (CCC) has invoked the Arbitration Act to pursue a claim against Aon New Zealand for $528 million in damages, saying the insurance company's behaviour limited its settlement of earthquake claims. More >>
Court of Appeal allows Christchurch homeowner class action
Monday, 30 October 2017, 7:20 pm | BusinessDesk
Oct. 30 (BusinessDesk) - The Court of Appeal has rejected an attempt by government-owned insurer Southern Response Earthquake Services to throw out a class action lawsuit from Christchurch homeowners whose claims haven't been settled six years after the ... More >>
NZOG shareholders question OG offer
Monday, 30 October 2017, 4:06 pm | BusinessDesk
Oct. 30 (BusinessDesk) - New Zealand Oil and Gas shareholders had mixed views on the partial takeover offer from OG Ofer at the company's annual meeting in Wellington this morning. More >>
Marsden Maritime sells surplus 41.5ha site for $4M
Monday, 30 October 2017, 4:04 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Marsden Maritime Holdings, which owns half of the Marsden Point-based Northport, has sold a net 41.5-hectare block of industrially zoned farmland for $4 million after a deal that allowed it to consolidate its land holdings. More >>
Strategic Finance receivers prepare to wind up
Monday, 30 October 2017, 1:06 pm | BusinessDesk
Oct. 30 (BusinessDesk) - The receivers of Strategic Finance say they'll make one final payment to investors, lifting the total payout to 21 percent, before calling time on the seven-year saga. More >>
China's Citic Capital boosts Tourism Holdings stake to 11%
Monday, 30 October 2017, 12:27 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Chinese investment manager Citic Capital, which oversees US$21 billion of assets, has boosted its stake in Tourism Holdings to almost 11 percent having emerged as a substantial shareholder in the motorhome operator earlier this ... More >>
NZX plans to launch skim milk powder option contract
Monday, 30 October 2017, 12:25 pm | BusinessDesk
Oct. 30 (BusinessDesk) - NZX, the financial markets operator, plans to launch a global skim milk powder option contract in December in response to customer demand. More >>
NZ dollar gains with commodity currencies, advances vs euro
Monday, 30 October 2017, 11:55 am | BusinessDesk
Oct. 30 (BusinessDesk) - The New Zealand dollar rose against the greenback, in line with other commodity currencies as the CRB Index rose to a six-month high. It gained against the euro as Spain tightened its grip on independence-minded Catalan. More >>
World Week Ahead: Fed gathers as Trump picks successor
Monday, 30 October 2017, 9:29 am | BusinessDesk
Oct. 30 (BusinessDesk) - With Wall Street at record highs, investors will eye US President Donald Trump’s pick for the next Federal Reserve chair, a meeting of the Fed, and the latest US jobs data amid a slew of corporate earnings reports including ... More >>
MARKET CLOSE: NZ shares down on Fletcher's weakness
Friday, 27 October 2017, 8:36 pm | BusinessDesk
MARKET CLOSE: NZ shares down on Fletcher's weakness, exporters A2 and Comvita book gains More >>
Dollar heads for weekly 2% decline vs USD, gains vs Aussie
Friday, 27 October 2017, 8:28 pm | BusinessDesk
Oct. 27 (BusinessDesk) - The New Zealand is headed for a weekly decline of 2 percent against a resurgent greenback and gained versus the Aussie after a court ruling on the status of an MP who represents the Australian government's majority. More >>
More media lay-offs a certainty as merger case closes
Friday, 27 October 2017, 7:42 pm | BusinessDesk
Oct. 27 (BusinessDesk) - The Commerce Commission is forcing NZME and Stuff to spend up to $200 million of their own money to protect the diversity of voices in the media by blocking a merger, but job losses are a certainty, the companies' lawyer told ... More >>
