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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 335]
NZ dollar heading for weekly drop of 2.5%
Friday, 20 October 2017, 8:47 pm | BusinessDesk
Oct. 20 (BusinessDesk) - The New Zealand dollar continued to fall and was headed for a weekly drop of 2.5 percent as investors digest news that Jacinda Ardern will be the next prime minister after NZ First leader Winston Peters said he would support ... More >>
ComCom right to reject media merger, court hears
Friday, 20 October 2017, 5:51 pm | BusinessDesk
Oct. 20 (BusinessDesk) - In the fifth day of the media merger appeal, the Commerce Commission's lawyers have begun their arguments against overturning the regulator's rejection of the country's two largest print media companies joining together. More >>
Auckland Airport infrastructure spend to go under microscope
Friday, 20 October 2017, 4:58 pm | BusinessDesk
Oct. 20 (BusinessDesk) - The Commerce Commission will pay particular attention to Auckland International Airport's planned $1.8 billion infrastructure spend in the regulator's upcoming airport price review. More >>
SkyCity runs ruler over Darwin after 'tough year'
Friday, 20 October 2017, 3:53 pm | BusinessDesk
Oct. 20 (BusinessDesk) - SkyCity Entertainment Group has hinted it may seek an investment partner to help develop its underperforming Darwin business in Australia, and hasn't ruled out a future sale of the asset. More >>
NZ dollar, stocks drop as 3-way government established
Friday, 20 October 2017, 3:26 pm | BusinessDesk
Oct. 20 (BusinessDesk) - The New Zealand dollar fell as much as 2 percent and the benchmark stock index dropped more than 1 percent as the certainty of a three-term National government, under which the economy grew and equities rallied, was replaced ... More >>
NZ annual net migration continues to cool in September
Friday, 20 October 2017, 2:48 pm | BusinessDesk
Oct. 20 (BusinessDesk) - New Zealand's annual net inflow of new migrants continued to cool in September as the lure of Australia starts attracting local residents across the Tasman. More >>
Metlifecare buys waterfront land in Auckland's Hobsonville
Friday, 20 October 2017, 12:16 pm | BusinessDesk
Oct. 20 (BusinessDesk) - Metlifecare plans to spend $240 million developing a new retirement village in Auckland's Hobsonville with the acquisition of waterfront land in the city's northwestern suburb. More >>
Trilogy CFO Render resigns to pursue other opportunities
Friday, 20 October 2017, 12:11 pm | BusinessDesk
Oct. 20 (BusinessDesk) - Trilogy International said its chief financial officer and company secretary Lindsay Render has resigned from the scented candle and beauty products maker to pursue other opportunities. More >>
Dollar drops to 5-month low as market awaits policy details
Friday, 20 October 2017, 11:51 am | BusinessDesk
Oct. 20 (BusinessDesk) - The New Zealand dollar fell about 2 percent to a five-month low after the NZ First Party opted to form a coalition with Labour, bringing in a government that has vowed to reduce migration, potentially putting a brake on one ... More >>
While you were sleeping: Apple shares weigh on Wall St
Friday, 20 October 2017, 11:07 am | BusinessDesk
Oct. 20 (BusinessDesk) - Wall Street slid from record highs as shares of Apple declined amid reports of weaker-than-expected appetite for its iPhone 8. More >>
UPDATE: NZ dollar drops near five-month low
Friday, 20 October 2017, 2:17 am | BusinessDesk
Oct. 19 (BusinessDesk) - The New Zealand dollar fell near a five-month low after NZ First leader Winston Peters said he would support a Labour-led government, saying the nation voted for change, and that capitalism needs to regain its "human face". More >>
NZ dollar falls as NZ First backs Labour-led government
Thursday, 19 October 2017, 10:29 pm | BusinessDesk
Oct. 19 (BusinessDesk) - The New Zealand dollar fell after NZ First leader Winston Peters said he would support a Labour-led government, saying the nation voted for change, and that he expected a change to the Reserve Bank Act. More >>
MARKET CLOSE: NZX 50 charts new record
Thursday, 19 October 2017, 8:33 pm | BusinessDesk
Oct. 19 (BusinessDesk) - New Zealand shares rose, nudging the S&P/NZX 50 Index to a new record, as Comvita continued to benefit from yesterday's earnings upgrade and Port of Tauranga said first-quarter volumes pointed to stronger annual profit ... More >>
Kraft Heinz buys ANZ Cerebos assets for A$290 million
Thursday, 19 October 2017, 7:27 pm | BusinessDesk
Oct. 19 (BusinessDesk) - Kraft Heinz, which counts Warren Buffett's Berkshire Hathaway as its biggest shareholder, will spend A$290 million buying Cerebos Food & Instant Coffee and Asian Home Gourmet from Suntory Beverage & Food. More >>
ASX-listed Retail Food Group takes control of Gloria Jean
Thursday, 19 October 2017, 6:21 pm | BusinessDesk
ASX-listed Retail Food Group takes control of Gloria Jean's NZ master franchise from failed owner More >>
Port of Tauranga says FY profit to rise as much as 10%
Thursday, 19 October 2017, 4:27 pm | BusinessDesk
Oct. 19 (BusinessDesk) - Port of Tauranga forecast 2018 profit will rise as much as 10 percent, saying it expects a strong pick-up in freight volumes in the first quarter to continue. More >>
Fliway CEO Hawkseby optimistic of bouncing back
Thursday, 19 October 2017, 3:14 pm | BusinessDesk
Oct. 19 (BusinessDesk) - Fliway Group chief executive Duncan Hawkesby expects the transport and logistics firm will bounce back from a "tough" 2017 with all three business lines operating better than a year earlier. More >>
Rising cost of housing outpaces income gains in past decade
Thursday, 19 October 2017, 2:49 pm | BusinessDesk
Oct. 19 (BusinessDesk) - The country's average annual household income gained more than 40 percent in the past decade, but was still outpaced by rising housing costs, Statistics New Zealand figures show. More >>
UPDATE: Zeta Resources bid for NZ Oil & Gas fails
Thursday, 19 October 2017, 2:41 pm | BusinessDesk
Oct. 19 (BusinessDesk) - Private investment firm H&G will accept Ofer Group Oil & Gas' offer for New Zealand Oil & Gas after ASX-listed Zeta Resources' play to seize control of the company did not meet the minimum acceptance condition and has lapsed. More >>
Restaurant Brands lifts first-half profit 41% on expansion
Thursday, 19 October 2017, 2:17 pm | BusinessDesk
Oct. 19 (BusinessDesk) - Restaurant Brands New Zealand lifted first-half profit 41 percent after the fast-food operator expanded its footprint through Australia and Hawaii. More >>
