BusinessDesk

Independent, Trustworthy New Zealand Business News

The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.

Contact BusinessDesk

Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 374]

NZ dollar weighed by risk aversion and positioning

Wednesday, 9 August 2017, 8:37 pm | BusinessDesk

Aug. 9 (BusinessDesk) - The New Zealand dollar fell as escalating tensions between the US and North Korea dampened risk appetite and ahead of what is expected to be a more dovish outlook from the Reserve Bank tomorrow. More >>

MARKET CLOSE: NZ shares mixed, SkyCity falls on tepid earnin

Wednesday, 9 August 2017, 8:35 pm | BusinessDesk

Aug. 9 (BusinessDesk) - New Zealand shares were mixed, with SkyCity Entertainment Group dropping to a five-month low on mediocre earnings while Mainfreight and A2 Milk Co gained. More >>

Nick Smith tweaks freshwater swimming standards

Wednesday, 9 August 2017, 8:33 pm | BusinessDesk

Aug. 9 (BusinessDesk) - Environment Minister Nick Smith has tweaked the government's freshwater swimming standards in his latest bid to overcome criticisms that standards announced earlier this year were not only too complex, but also weakened earlier ... More >>

Craft breweries sold beer faster than they could make it

Wednesday, 9 August 2017, 8:11 pm | BusinessDesk

Small NZ craft breweries sold beer faster than they could make it in 2016, report finds More >>

Wrightson's first water services loss in five years

Wednesday, 9 August 2017, 8:10 pm | BusinessDesk

Aug. 9 (BusinessDesk) - PGG Wrightson recorded the first loss from its water services business in five years after taking a write-down of about $1 million on its irrigation products, says Kar Yue Yeo, an analyst at First NZ Capital. More >>

SkyCity shares fall on lack of 'pizzazz' in annual earnings

Wednesday, 9 August 2017, 6:46 pm | BusinessDesk

Aug. 9 (BusinessDesk) - SkyCity Entertainment Group shares fell 3.9 percent after a tepid full year earning result, with investors predicting analysts will downgrade the stock. More >>

Labour confirms royalties for bottled water and irrigation

Wednesday, 9 August 2017, 3:51 pm | BusinessDesk

Aug. 9 (BusinessDesk) - A Labour-led government would implement royalties for bottled water, irrigation schemes and other commercial uses, leader Jacinda Ardern told the Environmental Defence Society's annual conference in her first major policy speech ... More >>

NZX mulls class waivers for NZAX

Wednesday, 9 August 2017, 3:49 pm | BusinessDesk

Aug. 9 (BusinessDesk) - NZX, which operates the country's only regulated stock exchange, is mulling class waivers for stocks listed on its NZAX and NXT small-cap markets as part of a likely consolidation into the main board. More >>

Smiths City's proposed $5.7 mln share buyback delayed

Wednesday, 9 August 2017, 3:32 pm | BusinessDesk

Aug. 9 (BusinessDesk) - Smiths City Group shareholders won't vote on a $5.7 million capital return at this month's annual meeting as the retail chain operator works through outstanding regulatory matters. More >>

CBA's ASB Full-Year Profit Rises 13% on Smaller Impairments

Wednesday, 9 August 2017, 2:11 pm | BusinessDesk

August. 9 - Commonwealth Bank of Australia's New Zealand earnings were boosted by a 13 percent gain in ASB Bank's cash profit as the kiwi lender benefited from smaller charges on bad debt and stripped out costs to keep on top of shrinking interest margins. More >>

UPDATE: SkyCity normalised FY profit rises 1.3%

Wednesday, 9 August 2017, 1:21 pm | BusinessDesk

Aug. 9 (BusinessDesk) - SkyCity Entertainment Group, the casino and hotel group, posted a small gain in normalised full-year profit on modest growth in New Zealand and a lower net interest expense, offset by reduced turnover in its international ... More >>

Ray White agency to pay $1.05M for Trade Me price fixing

Wednesday, 9 August 2017, 12:55 pm | BusinessDesk

Aug. 9 (BusinessDesk) - Hamilton real estate agency Online Realty, which trades as Ray White Hamilton City, has been fined $1.05 million for its part in a nationwide price fixing case after a group of realtors agreed to pass on increased Trade Me ... More >>

Property For Industry posts 1H loss on internalisation costs

Wednesday, 9 August 2017, 12:43 pm | BusinessDesk

Aug. 9 (BusinessDesk) - Property For Industry, the industrial property investor, posted a loss in the first half of its financial year after paying for the termination of its management agreement. More >>

AFC Group's audit report attracts regulatory scrutiny

Wednesday, 9 August 2017, 12:41 pm | BusinessDesk

Aug. 9 (BusinessDesk) - NZAX-listed AFC Group, which owns food, health and cosmetic businesses, has attracted the attention of the Financial Markets Authority for a second year in a row after its auditor couldn't find enough evidence in the company's ... More >>