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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 350]
MG Unit Trust units jump to 4-month high
Thursday, 21 September 2017, 9:08 pm | BusinessDesk
MG Unit Trust units jump to 4-month high after Yili confirms approach to Murray Goulburn More >>
MARKET CLOSE: NZ shares down, Fletcher drops
Thursday, 21 September 2017, 8:45 pm | BusinessDesk
Sept. 21 (BusinessDesk) - New Zealand shares closed lower, with Fletcher Building dropping while Synlait and Restaurant Brands gained on good sales. More >>
NZ dollar rangebound after Fed signals unwinding
Thursday, 21 September 2017, 8:13 pm | BusinessDesk
Sept. 21 (BusinessDesk) - The New Zealand dollar gave up earlier gains after the US Federal Reserve announced a plan to start shrinking its balance sheet and signalled one more rate hike later this year, remaining rangebound ahead of Saturday's general ... More >>
AIA sees growth opportunities in lifting insurance cover
Thursday, 21 September 2017, 6:58 pm | BusinessDesk
Sept. 21 (BusinessDesk) - AIA Group, the Hong Kong stock exchange-listed life insurer, wants to beef up life insurance cover across Australasia and broaden its distribution networks with the A$3.8 billion purchase of Commonwealth Bank of Australia's life ... More >>
Powerhouse plans to sell down Invert Robotics stake
Thursday, 21 September 2017, 4:03 pm | BusinessDesk
Sept. 21 (BusinessDesk) - Christchurch-based technology incubator Powerhouse Ventures plans to sell about one-quarter of its holding of Invert Robotics for $1.3 million, a premium to its book value. More >>
UPDATE: Economists unimpressed as GDP growth comes in
Thursday, 21 September 2017, 3:38 pm | BusinessDesk
Sept. 21 (BusinessDesk) - Economists were unimpressed by news that the economy grew in the second quarter, warning much of the growth was due to one-offs and won't spur the central bank to lift interest rates any time soon. More >>
Chorus plans underwrite for dividend reinvestment programme
Thursday, 21 September 2017, 2:36 pm | BusinessDesk
Sept. 21 (BusinessDesk) - Chorus is going to underwrite its dividend reinvestment programme, issuing shares to the underwriter at the 3 percent discount for the portion not taken up by shareholders. More >>
Immigration outpaces New Zealanders leaving
Thursday, 21 September 2017, 2:35 pm | BusinessDesk
Sept. 21 (BusinessDesk) - New Zealand annual net migration rose in August, with increasing numbers of foreign immigrants outpacing the number of New Zealanders leaving the country. More >>
UPDATE: Fletcher HR boss Kate Daly jumps ship to BNZ
Thursday, 21 September 2017, 2:22 pm | BusinessDesk
Sept. 21 (BusinessDesk) - Fletcher Building's chief people and communications officer Kate Daly is leaving the country's biggest construction firm to take on a similar role at Bank of New Zealand, the same day the company's quarry workers downed tools ... More >>
Brands second-quarter sales jump 41% on overseas expansion
Thursday, 21 September 2017, 2:13 pm | BusinessDesk
Sept. 21 (BusinessDesk) - Restaurant Brands New Zealand lifted second-quarter sales by 41 percent after the fast-food operator expanded its footprint through Australia and Hawaii. More >>
CBA sells CommInsure, Sovereign for A$3.8 billion
Thursday, 21 September 2017, 2:10 pm | BusinessDesk
Sept. 21 (BusinessDesk) - Commonwealth Bank of Australia has sold its trans-Tasman life insurance businesses CommInsure Life and Sovereign Assurance for A$3.8 billion to global insurer AIA Group. More >>
NZ's economy expands 0.8% in 2Q on export, domestic demand
Thursday, 21 September 2017, 2:00 pm | BusinessDesk
Sept. 21 (BusinessDesk) - New Zealand's economy expanded in the second quarter in line with expectations as export and domestic demand underpinned growth although output in the construction sector continued to weaken. More >>
Fletcher HR Comms Boss Moves to BNZ as Quarry Workers Strike
Thursday, 21 September 2017, 12:15 pm | BusinessDesk
Sept. 21 (BusinessDesk) - Fletcher Building's chief people and communications officer Kate Daly is leaving the country's biggest construction firm to take on a similar role at Bank of New Zealand, the same day the company's quarry workers down tools ... More >>
Fonterra names Roche Pharmaceuticals' Marc Rivers as CFO
Thursday, 21 September 2017, 11:51 am | BusinessDesk
Sept. 21 (BusinessDesk) - Fonterra Cooperative Group named Marc Rivers as chief financial officer, a position he currently holds at Roche Pharmaceuticals in Switzerland, and said he will take up the job on March 1 next year. More >>
NZ dollar gives up gains on Fed balance sheet unwinding
Thursday, 21 September 2017, 11:37 am | BusinessDesk
Sept. 21 (BusinessDesk) - The New Zealand dollar gave up some of its gains from yesterday's poll putting the incumbent National Party in the lead ahead of this weekend's election after the Federal Reserve stuck to its track for future interest rate hikes and started ... More >>
UPDATE: NZ dollar jumps as National leads in latest poll
Wednesday, 20 September 2017, 9:15 pm | BusinessDesk
Sept. 20 (BusinessDesk) - The New Zealand dollar jumped half a cent when the latest poll showed the National Party leapfrogging its nearest rival ahead of Saturday's general election. More >>
MARKET CLOSE: NZ shares gain as relief rally bolsters
Wednesday, 20 September 2017, 8:32 pm | BusinessDesk
MARKET CLOSE: NZ shares gain as relief rally bolsters pipeline affected Air NZ, Z Energy More >>
Reserve Bank revamps rules for bank outsourcing
Wednesday, 20 September 2017, 8:30 pm | BusinessDesk
Sept. 20 (BusinessDesk) - The Reserve Bank has released its revised policy for banks which outsource services, tightening the rules to ensure the banks continue to function in the event of failure. More >>
NZ dollar treads water ahead of NZ poll, Fed meeting
Wednesday, 20 September 2017, 8:28 pm | BusinessDesk
Sept. 20 (BusinessDesk) - The New Zealand dollar remained above 73 US cents but barely budged on the day as markets await the latest New Zealand political opinion poll ahead of Saturday's general election and the outcome of the US Federal Reserve's ... More >>
Transmission Gully earthworks estimate undershoots by 50%
Wednesday, 20 September 2017, 7:26 pm | BusinessDesk
Sept. 20 (BusinessDesk) - Greater Wellington Regional Council's environment committee wants an update on the $850 million Transmission Gully project after learning consents for the 27-kilometre four-lane highway underestimated earthworks by 50 percent. More >>
