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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 36]
Wrightson capital return gets shareholder approval
Tuesday, 23 July 2019, 8:01 pm | BusinessDesk
July 23 (BusinessDesk) - PGG Wrightson shareholders have again given the rural services firm the thumbs up to a capital return in a tax-efficient way. More >>
Morrison & Co eyes asset sales from first PIP Fund
Tuesday, 23 July 2019, 4:06 pm | BusinessDesk
July 23 (BusinessDesk) - The HRL Morrison-managed PIP Fund 1 has hired an adviser to test the waters for a buyer of its social infrastructure assets. More >>
Improved transmission pricing may save $2.7 bln
Tuesday, 23 July 2019, 3:24 pm | BusinessDesk
July 23 (BusinessDesk) - Changes proposed to the way electricity transmission costs are shared could deliver about $2.7 billion in benefits to consumers during the next 30 years, the Electricity Authority says. More >>
No money for unsecured creditors
Tuesday, 23 July 2019, 2:35 pm | BusinessDesk
July 23 (BusinessDesk) - The receivers of former Masport firm Precision Foundry say unsecured trade creditors and unsecured employees - who have claims of about $4.07 million - are unlikely to get anything. More >>
NZ dollar tad weaker, ECB, Federal Reserve in focus
Tuesday, 23 July 2019, 11:02 am | BusinessDesk
July 23 (BusinessDesk) - The New Zealand dollar was slightly weaker ahead of upcoming rate decisions by the European Central Bank and the US Federal Reserve. More >>
MARKET CLOSE: NZ shares outperform Asia as exporters gain
Monday, 22 July 2019, 8:59 pm | BusinessDesk
July 22 (BusinessDesk) - New Zealand shares rose for a fourth day, outperforming the rest of Asia, as exporters including A2 Milk Co, Mainfreight, and Fisher & Paykel Healthcare all gained. Sky Network Television led the market higher. More >>
Significant shortfall for subbies in Ebert receivership
Monday, 22 July 2019, 8:52 pm | BusinessDesk
July 22 (BusinessDesk) - Receivers for Ebert Construction have dished out another $770,000 to subcontractors, bringing total distributions to them to $2.31 million since the firm’s collapse last October. More >>
Transpower sees no risk to credit metrics from changes
Monday, 22 July 2019, 8:22 pm | BusinessDesk
July 22 (BusinessDesk) - National grid operator Transpower says a further reduction signalled for its revenue during the next five-year regulatory period should not affect its key credit metrics. More >>
NZ dollar rises, an outlier amid rising Gulf tensions
Monday, 22 July 2019, 8:18 pm | BusinessDesk
July 22 (BusinessDesk) - The New Zealand dollar was firmer but well within its recent range as the market focuses on escalating tensions in the Middle East after Iran seized a British-flagged tanker. More >>
Craigmore spends $32M to expand Kerikeri kiwifruit crop
Monday, 22 July 2019, 7:23 pm | BusinessDesk
July 22 (BusinessDesk) - The kiwifruit crop in Northland's Kerikeri area will increase by "more than a third" following Overseas Investment Office permission for agriculture investor Craigmore Sustainables to spend $32 million developing some ... More >>
CentrePort eyes further hub expansion
Monday, 22 July 2019, 7:21 pm | BusinessDesk
July 22 (BusinessDesk) - CentrePort says it has a further three potential freight hubs at the concept stage but is focused on completing the expansion of its Waingawa log yard first. More >>
South Port beats guidance, earnings in line with 2018 record
Monday, 22 July 2019, 1:49 pm | BusinessDesk
July 22 (BusinessDesk) - South Port New Zealand says it will report flat annual earnings, beating guidance for a 10 percent decline, as strong cargo flows late in the season gave profit an extra push. More >>
Plexure sees revenue growth from White Castle deal
Monday, 22 July 2019, 12:34 pm | BusinessDesk
July 22 (BusinessDesk) - Plexure Group expects to lift revenue by an undisclosed amount after signing US burger chain White Castle as a new customer. More >>
NZ dollar treading water as markets focus on Iran
Monday, 22 July 2019, 11:07 am | BusinessDesk
July 22 (BusinessDesk) - The New Zealand dollar was largely unchanged as market tensions ramp up after Iran seized a British-flagged tanker. More >>
MARKET CLOSE: NZ shares extend gain
Friday, 19 July 2019, 8:46 pm | BusinessDesk
July 19 (BusinessDesk) - New Zealand shares remained in record territory as passive investment funds appeared to support the upward trend in school holiday-affected trading. Tourism Holdings led the market higher when it resumed trading. More >>
NZ dollar headed for 1.3% weekly gain
Friday, 19 July 2019, 8:15 pm | BusinessDesk
NZ dollar headed for 1.3% weekly gain on expectations of a Fed rate cut More >>
RBNZ knock-back gives Resolution chance to low-ball AMP
Friday, 19 July 2019, 7:54 pm | BusinessDesk
July 19 (BusinessDesk) - Resolution Life may be able to wrestle more than a billion dollars from the A$3.3 billion sale price of AMP's life insurance business after a known risk came to fruition when the Reserve Bank of New Zealand didn't play ball, ... More >>
Rail hubs may not boost Napier Port log trade
Friday, 19 July 2019, 7:38 pm | BusinessDesk
July 19 (BusinessDesk) - KiwiRail’s proposed freight hub at Dannevirke may extend Napier Port’s log catchment further south, but is more likely to put existing trucked freight onto rail, port chief executive Todd Dawson says. More >>
O'Connor looks to overhaul Biosecurity Act, improve tracing
Friday, 19 July 2019, 5:05 pm | BusinessDesk
July 19 (BusinessDesk) - The government is looking to tighten control and impose harsher penalties after the Mycoplasma bovis outbreak revealed cracks in the country's stock management system. More >>
Denton Morrell undefended at liquidation hearing
Friday, 19 July 2019, 4:50 pm | BusinessDesk
July 19 (BusinessDesk) - Three lawyers from different firms attended the High Court at Auckland today to see wealth management company Denton Morrell moved into liquidation. More >>
