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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 37]
Contact steam to heat Norske Skog pellet business secured
Friday, 19 July 2019, 4:46 pm | BusinessDesk
July 19 (BusinessDesk) - Norske Skog’s wood pellets business has secured a steam supply from Contact Energy for its Taupo plant. More >>
Air NZ to amend booking engine after lawyer’s complaint
Friday, 19 July 2019, 3:40 pm | BusinessDesk
July 19 (BusinessDesk) - Air New Zealand will make changes after a lawyer complained to the Commerce Commission over scarcity pricing tactics. More >>
Ross McEwan to take helm at NAB
Friday, 19 July 2019, 3:25 pm | BusinessDesk
July 19 (BusinessDesk) - New Zealander Ross McEwan has been appointed National Australia Bank’s new chief executive after holding that role at Royal Bank of Scotland since 2013. More >>
KPMG says bank capital proposals will wreck havoc
Friday, 19 July 2019, 2:28 pm | BusinessDesk
July 19 (BusinessDesk) - KPMG says the Reserve Bank’s bank capital proposals will lead to less bank lending to farmers and at significantly higher interest rates on the loans they’re prepared to provide. More >>
Mild weather saps Vector's June-qtr volumes
Friday, 19 July 2019, 2:11 pm | BusinessDesk
July 19 (BusinessDesk) - Mild weather in May and June left Vector’s power and gas volumes for the June year marginally lower than a year earlier. More >>
Dollar gains as dovish Fed comments point to 50-bps US cut
Friday, 19 July 2019, 11:03 am | BusinessDesk
July 19 (BusinessDesk) - The New Zealand dollar rose after dovish comments from New York Federal Reserve President John Williams increased expectations for a steeper rate cut in the US at the end of the month. More >>
RBNZ says no change in approach on AMP purchase
Thursday, 18 July 2019, 9:09 pm | BusinessDesk
July 18 (BusinessDesk) - The Reserve Bank says it hasn’t changed its approach to applications for changes of ownership of life insurance companies and nor has there been any change in New Zealand insurance law or regulations since October 2018. More >>
MARKET CLOSE: NZX50 hits record
Thursday, 18 July 2019, 8:55 pm | BusinessDesk
July 18 (BusinessDesk) - New Zealand shares outperformed Asia as companies offering reliable dividends helped lift the benchmark index to a record. Meridian Energy and Z Energy led the market higher. More >>
NZ dollar mixed after strong Australian employment data
Thursday, 18 July 2019, 8:50 pm | BusinessDesk
July 18 (BusinessDesk) - The New Zealand dollar rose a little against the US dollar but fell slightly against the Aussie after reasonably strong jobs numbers in Australia provided no additional weight to the case for rate cuts there. More >>
Energy efficiency key to lowering cost of renewables push
Thursday, 18 July 2019, 7:18 pm | BusinessDesk
July 18 (BusinessDesk) - A focus on energy efficiency will lower the cost of the country’s drive toward greater renewable energy use and may increase the scale of emission reductions achieved, the Energy Efficiency and Conservation Authority ... More >>
Paper recycling costs rising 35% as export markets collapse
Thursday, 18 July 2019, 6:55 pm | BusinessDesk
July 18 (BusinessDesk) - The price of trying to do the right thing by recycling paper just went up, with Oji Fibre Solutions announcing a 35 percent increase in the cost collecting a binful of used paper to stem the losses it's suffering when it sends ... More >>
First Union leading rivals for biggest average pay claims
Thursday, 18 July 2019, 5:47 pm | BusinessDesk
July 18 (BusinessDesk) - Wage negotiations are becoming tougher, with the First Union leading the pack as it adopts more aggressive tactics to win higher than average wage settlements than competing unions, says Adelhelm & Associates in its 10th ... More >>
Fonterra to go coal-free 11 years ahead of schedule
Thursday, 18 July 2019, 3:20 pm | BusinessDesk
July 18 (BusinessDesk) - Dairy giant Fonterra Co-operative Group said it is shaving 11 years off its coal target, putting an immediate stop to installing any new coal boilers or increasing capacity to burn coal. More >>
Huawei committed to NZ
Thursday, 18 July 2019, 3:09 pm | BusinessDesk
July 18 (BusinessDesk) - Huawei Technologies won’t turn its back on New Zealand, even if it can’t convince the government that it’s not a front for Chinese spies. More >>
Mercury points to peaking gains as FY production drops 10%
Thursday, 18 July 2019, 1:30 pm | BusinessDesk
July 18 (BusinessDesk) - Mercury NZ says it relied on the peaking capacity of its Waikato hydro generation to capture high wholesale power prices in the June quarter. More >>
Asset Plus sells Heinz Watties distribution centre
Thursday, 18 July 2019, 12:37 pm | BusinessDesk
July 18 (BusinessDesk) - Asset Plus has sold its Heinz Watties distribution centre in Hastings for $29.1 million to a property syndication which it will underwrite for a fee. More >>
NZ dollar gains on weak US data, renewed trade concerns
Thursday, 18 July 2019, 11:00 am | BusinessDesk
July 18 (BusinessDesk) - The New Zealand dollar gained on weak US housing data and renewed concerns about US-China trade tensions. More >>
RBNZ's key political omission in its bank capital proposals
Thursday, 18 July 2019, 10:34 am | BusinessDesk
July 18 (BusinessDesk) - Motherhood and apple pie top most people’s lists of things that are unquestionably good. More >>
UPDATE: ANZ and Westpac credit rating outlooks downgraded
Thursday, 18 July 2019, 8:14 am | BusinessDesk
July 17 (BusinessDesk) - Australia's ANZ Bank has taken another hit, with the international credit rating agency Fitch downgrading the bank's operations in both Australia and New Zealand from a 'stable' to a 'negative' outlook, citing "material shortcomings ... More >>
ANZ credit rating outlook downgraded to 'negative' outlook
Thursday, 18 July 2019, 8:11 am | BusinessDesk
July 17 (BusinessDesk) - Australia's ANZ Bank has taken another hit, with the international credit rating agency Fitch downgrading the bank's operations in both Australia and New Zealand from a 'stable' to a 'negative' outlook, citing "material shortcomings ... More >>
