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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 373]
MARKET CLOSE: NZ shares mixed, NZOG gains on takeover
Thursday, 10 August 2017, 8:39 pm | BusinessDesk
Aug. 10 (BusinessDesk) - New Zealand shares were mixed, with New Zealand Oil & Gas gaining on a partial takeover offer while CBL Corp and Goodman Property Trust fell. More >>
NZ dollar down on geopolitical tensions
Thursday, 10 August 2017, 8:21 pm | BusinessDesk
Aug. 10 (BusinessDesk) - The New Zealand dollar fell as a less dovish than expected statement and forecasts from the central bank were overshadowed by tensions between the United States and North Korea. More >>
SkyCity honing innovation strategy to remain relevant
Thursday, 10 August 2017, 7:19 pm | BusinessDesk
Aug. 10 (BusinessDesk) - SkyCity Entertainment Group is honing its innovation strategy, looking at everything from facial recognition to online casinos, in a bid to stay on top of emerging trends, says chief executive Graeme Stephens after presenting ... More >>
NZ in 'productivity recession', stocks overpriced
Thursday, 10 August 2017, 6:37 pm | BusinessDesk
Aug. 10 (BusinessDesk) - New Zealand's economy is in a "productivity recession" and relies on migrant-fuelled population growth to expand while stocks are overvalued and investors should cut their holdings by about a quarter, says JBWere. More >>
Raising productivity key to lifting NZ living standards
Thursday, 10 August 2017, 6:31 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Reserve Bank governor Graeme Wheeler wants a greater debate on how to boost New Zealand's soggy productivity levels as a means of boosting the nation's living standards. More >>
RBNZ approves Kiwibank bonds
Thursday, 10 August 2017, 6:29 pm | BusinessDesk
Aug. 10 (BusinessDesk) - The Reserve Bank will recognise two bonds issued by state-owned Kiwibank as regulatory capital under the Capital Adequacy Framework, having previously rejected them. More >>
UPDATE: Trans-Tasman Resources gets green light
Thursday, 10 August 2017, 6:28 pm | BusinessDesk
(recasts to add comments from TTR chairman as well as detail and comment from those opposed to the decision throughout) More >>
Trans-Tasman Resources gets green light to mine iron sands
Thursday, 10 August 2017, 2:57 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Trans-Tasman Resources has been given the green light to mine iron sands from the ocean floor in New Zealand's Exclusive Economic Zone in the South Taranaki Bight, in a split ruling by the decision-making committee. More >>
Delegat managing director Graeme Lord to step down
Thursday, 10 August 2017, 2:46 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Delegat Group, New Zealand's largest listed winemaker, said managing director Graeme Lord will step down in July 2018 after four years in the role and 19 years with the company. More >>
NZ guest nights climb 6.7% in June, bolstered by Lions tour
Thursday, 10 August 2017, 2:43 pm | BusinessDesk
Aug. 10 (BusinessDesk) - New Zealand national guest nights rose in June, helped by international visitors here for the Lions rugby tour. More >>
NZ retail spending dips in July; less spent on petrol
Thursday, 10 August 2017, 2:12 pm | BusinessDesk
Aug. 10 (BusinessDesk) - New Zealand retail spending on electronic cards dipped in July, with lower fuel and hospitality spending. More >>
Goodman Property invests $107M in 6 industrial developments
Thursday, 10 August 2017, 1:51 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Goodman Property Trust, the NZX-listed commercial and industrial property investor, plans to spend $107 million in six industrial developments in Auckland, saying it is intensifying activity in the city to meet demand. More >>
Zeta, Saville team up for partial takeover of NZ Oil & Gas
Thursday, 10 August 2017, 1:21 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Zeta Resources, the ASX-listed investment group advised by Duncan Saville's ICM unit, is making a partial takeover offer for New Zealand Oil & Gas, offering a 15 percent premium for shares in the oil and gas explorer. More >>
AMP New Zealand posts little-changed 1H underlying profit
Thursday, 10 August 2017, 1:19 pm | BusinessDesk
Aug. 10 (BusinessDesk) - AMP’s New Zealand financial services, the local unit of the Australian financial services firm, posted a little changed underlying operating profit after tax in its first half, as it continues to grow its revenue base and ... More >>
Cert NZ receives 364 incident reports in first three months
Thursday, 10 August 2017, 1:12 pm | BusinessDesk
Aug. 10 (BusinessDesk) - The government's Computer Emergency Response Team (Cert NZ) received 364 incident reports in its first three months of operation in what is hoped will build into a major database relating to cyber-security issues. More >>
Vital Healthcare lifts annual earnings 54%
Thursday, 10 August 2017, 1:10 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Vital Healthcare Property Trust, the listed hospital owner and developer, increased annual earnings 54 percent as it saw rental income grow in a year when it made seven major acquisitions, with its outlook strong for 2018. More >>
RBNZ's Wheeler keeps OCR at 1.75% and rate track intact
Thursday, 10 August 2017, 12:33 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 1.75 percent with future projections unchanged, disappointing some analysts who had been tipping an even later start to a tightening cycle. More >>
TeamTalk says full-year profit was $4.7M-$5.1M
Thursday, 10 August 2017, 12:02 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Network provider TeamTalk says full-year profit was more than double the guidance it gave in March, largely reflecting the sale of 70 percent of BayCity Communications to Vodafone New Zealand. More >>
NZ dollar little changed ahead of OCR review
Thursday, 10 August 2017, 11:23 am | BusinessDesk
Aug. 10 (BusinessDesk) - The New Zealand dollar was little changed, having fallen this week ahead of the Reserve Bank's monetary policy statement this morning, which is expected to reiterate it sees no hurry to join other central banks in raising ... More >>
While You Were Sleeping: Trump Lifts Treasuries
Thursday, 10 August 2017, 11:12 am | BusinessDesk
Aug. 10 (BusinessDesk) - Equities moved lower on both sides of the Atlantic, while Treasuries and gold gained, amid concern about intensifying tension between the US and North Korea. More >>
