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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 360]
Ports of Auckland Trims Annual Dividend as Profit Slips 28%
Thursday, 31 August 2017, 11:19 am | BusinessDesk
Aug. 31 (BusinessDesk) - Ports of Auckland trimmed its annual return to the city as profit dropped 28 percent as the Auckland Council-owned port beefed up spending on its automation programme, which has prompted it to rethink how it engages its ... More >>
While you were sleeping: Optimism on US economy firms
Thursday, 31 August 2017, 11:08 am | BusinessDesk
Aug. 31 (BusinessDesk) - Wall Street gained as the latest data on US gross domestic product and the labour market bolstered optimism about the outlook for the economy. More >>
MARKET CLOSE: NZ shares bounce back up, Metro Glass gains
Wednesday, 30 August 2017, 8:42 pm | BusinessDesk
Aug. 30 (BusinessDesk) - New Zealand shares gained, bouncing after yesterday's selling, with Metro Performance Glass leading the index up while Contact Energy dropped. More >>
Dollar dips on Wheeler, pares loss as North Korea fears ease
Wednesday, 30 August 2017, 8:15 pm | BusinessDesk
Aug. 30 (BusinessDesk) - The New Zealand dollar dipped briefly after Reserve Bank governor Graeme Wheeler made what may be his last official attempt to jawbone the kiwi lower before paring its losses as fears about North Korea's latest missile test ... More >>
Trustpower looking to spin off Australian hydro generation
Wednesday, 30 August 2017, 7:58 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Trustpower will undertake a strategic review of Australian hydro generation assets as it continues to focus on its core New Zealand business with a decision expected by the end of this year. More >>
Wheeler manages to move dollar in farewell speech
Wednesday, 30 August 2017, 5:25 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Reserve Bank governor Graeme Wheeler said "the prospects look promising" for continued robust economic growth in New Zealand over the next two years and the greatest risks are from "inflated global asset prices ... More >>
Mixed earnings season likely to slow further gains
Wednesday, 30 August 2017, 3:49 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Analysts said the latest round of earnings reports for New Zealand's listed companies was fairly strong although the mixed outlook is capping a lot of the upside for share prices, in particular given how high valuations are ... More >>
Chorus to accelerate, extend UFB programme
Wednesday, 30 August 2017, 3:37 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Chorus says it will deliver ultrafast broadband to 87 percent of the country ahead of schedule, after making a deal to receive $270 million more in government funding More >>
NZ building consents down in July
Wednesday, 30 August 2017, 2:44 pm | BusinessDesk
Aug. 30 (BusinessDesk) - New Zealand residential building consents fell in July, with the biggest decreases coming from Auckland, although more stand-alone houses were consented. More >>
Tightened rules on companies passing costs to consumers
Wednesday, 30 August 2017, 1:51 pm | BusinessDesk
Aug. 30 (BusinessDesk) - The Commerce Commission is looking at tightening rules for electricity and gas pipeline companies using related parties to carry out work rather than independent contractors, with concerns that the cost is being passed on to consumers. More >>
Red Stag Timber plans to lift production from its super mill
Wednesday, 30 August 2017, 1:18 pm | BusinessDesk
Red Stag Timber plans to lift production from its Waipa 'super mill' to meet demand More >>
PwC reaches settlement with Property Ventures liquidator
Wednesday, 30 August 2017, 1:06 pm | BusinessDesk
Aug. 30 (BusinessDesk) - PricewaterhouseCoopers has reached a confidential settlement with the liquidators of David Henderson's failed property development firm Property Ventures (PVL), ending its part in a lawsuit that was seeking $302 million in damages ... More >>
Pyne Gould turns to annual loss on Wilaci payment
Wednesday, 30 August 2017, 1:03 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Pyne Gould Corp, the financial services firm controlled by managing director George Kerr, turned to an annual loss due to the 20.54 million British pounds cost of its Supreme Court-ordered payout to Wilaci Pty. More >>
Allied Farmers posts 60% lift in full-year profit
Wednesday, 30 August 2017, 12:58 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Rural services firm Allied Farmers reported a 60 percent lift in net profit on an improved result from its livestock division, particularly in the second half, and further cost reduction. More >>
NZ dollar recovers vs yen, greenback as N. Korea fears ebb
Wednesday, 30 August 2017, 11:37 am | BusinessDesk
Aug. 30 (BusinessDesk) - The New Zealand dollar rose against the yen and the greenback as fears eased that North Korea's firing of a missile over Japan’s northern island of Hokkaido would lead to escalating tensions on the Korean peninsula. More >>
While you were sleeping: Wall St lifts on US consumer
Wednesday, 30 August 2017, 11:09 am | BusinessDesk
Aug. 30 (BusinessDesk) - Wall Street advanced, recovering from losses earlier in the day prompted by North Korea’s firing of a missile over Japan, as investors opted to focus on the strength of the US economy. More >>
MARKET CLOSE: NZ shares fall as North Korea fears weigh
Tuesday, 29 August 2017, 8:38 pm | BusinessDesk
MARKET CLOSE: NZ shares fall as North Korea fears weigh; Chorus hits 5-month low More >>
NZ dollar falls on North Korean missile, Mycoplasma bovis
Tuesday, 29 August 2017, 8:09 pm | BusinessDesk
Aug. 29 (BusinessDesk) - The New Zealand dollar fell against the yen after North Korea fired a ballistic missile over Japan’s northern island of Hokkaido, sapping risk appetitie. News that a cattle disease had been detected on another three properties ... More >>
Milk processor Gardians ordered to pay $4.5M to SPX Corp
Tuesday, 29 August 2017, 8:08 pm | BusinessDesk
Milk processor Gardians ordered to pay $4.5M to SPX Corp over Southland baby formula plant More >>
Veritas faces D-Day as banking facility won't be renewed
Tuesday, 29 August 2017, 8:06 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Veritas Investments has to find $28.5 million in the next year or so after ANZ Bank New Zealand said it won't renew its banking facilities as they come due. More >>
