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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 361]
Powerhouse's Hampson resigns, effective immediately
Tuesday, 29 August 2017, 8:04 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Powerhouse Ventures, the ASX-listed incubator that put one of its investments into liquidation this month, says managing director Stephen Hampson has resigned, effective immediately, and has been replaced by chief financial officer ... More >>
CORRECT: NZOG back in black after Kupe sale
Tuesday, 29 August 2017, 8:02 pm | BusinessDesk
Aug. 29 (BusinessDesk) - New Zealand Oil & Gas was back in the black and kept its dividend unchanged after reaping a $95 million gain on the sale of its stake in the Kupe oil and gas fields and trimming its operating and exploration costs. More >>
Mercer Group widens annual loss on foregone tax assets
Tuesday, 29 August 2017, 8:00 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Mercer Group posted a wider loss as the cost of restructuring and foregone tax assets weighed on the bottom line. More >>
NZOG back in black after Kupe sale
Tuesday, 29 August 2017, 5:34 pm | BusinessDesk
Aug. 29 (BusinessDesk) - New Zealand Oil & Gas was back in the black and kept its dividend unchanged after reaping a $95 million gain on the sale of its stake in the Kupe oil and gas fields and trimming its operating and exploration costs. More >>
RBNZ hires Corrections CIO Sean Mills
Tuesday, 29 August 2017, 3:53 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Department of Corrections chief financial officer Sean Mills will join the Reserve Bank's senior leadership after being appointed assistant governor and head of operations. More >>
BNZ 9-month profit edges up 1.8% on smaller bad debt charges
Tuesday, 29 August 2017, 3:05 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Bank of New Zealand, the local unit of National Australia Bank, posted a 1.8 percent increase in net profit for the first nine months of the year as smaller charges on bad debt made up for largely flat income. More >>
Downer paid A$55M for Hawkins
Tuesday, 29 August 2017, 2:44 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Australian infrastructure and mining firm Downer EDI spent A$55.4 million snapping up local construction firm Hawkins which was in need of capital at the time of the purchase. More >>
Auckland City's net debt rises 6.5% to $7.97B
Tuesday, 29 August 2017, 2:05 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Auckland Council's debt rose 6.5 percent to $7.97 billion as the city invested in transport and water infrastructure, while net assets climbed 6.3 percent to $35.8 billion, according to its preliminary unaudited accounts. More >>
Airwork annual profit edges up 0.7%
Tuesday, 29 August 2017, 1:02 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Airwork Holdings lifted annual profit 0.7 percent, in line with its guidance, as a bigger fleet in its fixed wing division delivered better earnings offsetting a weaker result from its helicopter unit. More >>
Labour eyes smaller operating surpluses
Tuesday, 29 August 2017, 12:34 pm | BusinessDesk
Aug. 29 (BusinessDesk) - The Labour Party will run smaller operating surpluses over the next five years and take on a higher level of debt to pay for $21.85 billion of extra spending to revive what it claims is a run down public service and bring ... More >>
Peters' possible policy demands keep fund manager Nikko wary
Tuesday, 29 August 2017, 12:06 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Nikko Asset Management is parking some funds across the Tasman as it weighs up which side of the fence likely kingmaker Winston Peters will fall, says NZ head of equities Stuart Williams. More >>
Hurricane Harvey adds to negative greenback sentiment
Tuesday, 29 August 2017, 11:42 am | BusinessDesk
Aug. 29 (BusinessDesk) - The New Zealand dollar rose as Hurricane Harvey caused widespread flooding in the Houston area, adding to negative sentiment for the US dollar already suffering from lack of policy momentum from the Trump administration and the looming ... More >>
Wall St weighs hurricane Harvey impact
Tuesday, 29 August 2017, 10:59 am | BusinessDesk
Aug. 29 (BusinessDesk) - Wall Street was mixed as shares of insurance and oil companies including Travelers fell while those of home improvement chains including Home Depot gained as investors tried to asses the catastrophic impact of hurricane Harvey on ... More >>
NZ dollar pares some losses against euro on profit taking
Monday, 28 August 2017, 8:22 pm | BusinessDesk
Aug. 28 (BusinessDesk) - The New Zealand dollar clawed back some of its losses against the euro, likely on some profit taking after it touched a 15-month low in early trading. More >>
Hawke's Bay Council to vote on ending Ruataniwha funding
Monday, 28 August 2017, 7:59 pm | BusinessDesk
Hawke's Bay Regional Council to vote on ending Ruataniwha funding, writing-off $14M debt More >>
Fonterra's NZ milk collection in season to date rises 10.4%
Monday, 28 August 2017, 7:57 pm | BusinessDesk
Fonterra's NZ milk collection in season to date rises 10.4%, Australian collection up 28% More >>
Abano Healthcare completes $35 million capital raising
Monday, 28 August 2017, 7:55 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Abano Healthcare said it successfully completed the shortfall bookbuild component of the $35 million capital raise announced on July 26, with strong investor support. More >>
Labour would seek to hit up tourists for a $25 levy
Monday, 28 August 2017, 7:53 pm | BusinessDesk
Aug. 28 (BusinessDesk) - A Labour-led government would seek to cash in on a tourism boom by charging international visitors a $25 levy to help grow the industry and protect New Zealand's biodiversity, it said. More >>
FY operating profit gains 6% to record
Monday, 28 August 2017, 4:31 pm | BusinessDesk
Delegat meets guidance as FY operating profit gains 6% to record, sees similar in 2018 More >>
Prince and Partners admits failings as trustee
Monday, 28 August 2017, 4:20 pm | BusinessDesk
Aug. 28 (BusinessDesk) - The Financial Markets Authority has reached a $4.5 million settlement with Prince and Partners Trustee Co after the company admitted a series of failings in its role as trustee of lender Viaduct Capital. More >>
