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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 375]
Trans Tasman Resources issues new shares ahead of ruling
Tuesday, 8 August 2017, 7:33 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Trans Tasman Resources has issued new shares on the eve of a ruling on whether it can mine iron sands from the ocean floor in New Zealand's Exclusive Economic Zone in the South Taranaki Bight. More >>
NZ rating steady but robust economic growth could cool
Tuesday, 8 August 2017, 7:30 pm | BusinessDesk
Aug. 8 (BusinessDesk) - New Zealand's economic growth to remain strong but did point to several factors that could cool it in the medium term, although it doesn't expect to change its sovereign rating in the immediate future, says ratings agency Standard ... More >>
Trade Me shares sink near six-month low
Tuesday, 8 August 2017, 5:20 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Trade Me Group shares fell near a six-month low after two research houses downgraded their rating for the online retail platform's stock. More >>
UPDATE: PGG Wrightson’s water business posted 2017 loss
Tuesday, 8 August 2017, 2:52 pm | BusinessDesk
Aug. 8 (BusinessDesk) - PGG Wrightson says it will probably take “a few years” for its water business to return to the levels of profitability enjoyed in 2013-14 after recording a loss in the 2017 year in the face of lower demand and increased ... More >>
CropLogic's ASX float underwritten by Hunter Capital
Tuesday, 8 August 2017, 2:37 pm | BusinessDesk
Aug. 8 (BusinessDesk) - CropLogic, the agricultural technology company which counts Powerhouse Ventures as a shareholder, will have its initial public offering underwritten to ensure it crosses the A$5 million threshold. More >>
NZ beef export market faces headwinds, AgriHQ says
Tuesday, 8 August 2017, 2:25 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Headwinds are building for New Zealand exports of beef, the country's largest meat export, according to AgriHQ. More >>
New regulatory regime for telecommunications lines
Tuesday, 8 August 2017, 12:32 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Communications Minister Simon Bridges will today table legislation bringing the regulatory pricing regime for fibre and copper line infrastructure in line with their electricity and gas distribution counterparts. More >>
PGG Wrightson full-year profit gains 5.7%
Tuesday, 8 August 2017, 12:29 pm | BusinessDesk
Aug. 8 (BusinessDesk) - PGG Wrightson posted a 5.7 percent gain in full-year profit, meeting its guidance, as the rural services company benefitted from lower interest costs, offsetting stalled growth in revenue. More >>
Kiwifruit growers take Goverment to court over PSA
Tuesday, 8 August 2017, 12:24 pm | BusinessDesk
Aug. 7 (BusinessDesk) - A group of kiwifruit growers has taken the government to court, in a landmark case where it claims negligence by the Ministry for Primary Industries allowed the Psa virus into New Zealand in 2009, devastating the industry. More >>
Supreme Court tosses out relief care minimum wage appeal
Tuesday, 8 August 2017, 12:22 pm | BusinessDesk
Aug. 7 (BusinessDesk) - The Supreme Court has sided with the Ministry of Health and Capital & Coast district health board in a split decision over whether a former relief caregiver should have been paid minimum wage instead of a flat fee. More >>
NZ dollar falls to 3-week low
Tuesday, 8 August 2017, 11:32 am | BusinessDesk
Aug. 8 (BusinessDesk) - The New Zealand dollar fell to a three-week low as traders took yesterday's weaker inflation reading from the Reserve Bank's survey of expectations as evidence the bank will lag behind its global peers in hiking interest rates, reducing ... More >>
Grilling season fires up Tyson Foods
Tuesday, 8 August 2017, 10:51 am | BusinessDesk
Aug. 8 (BusinessDesk) - Wall Street moved higher, sending the Dow to yet another record high, amid better-than-expected earnings including from Tyson Foods. More >>
MARKET CLOSE: NZ shares up on 'Jacinda Effect'
Monday, 7 August 2017, 8:47 pm | BusinessDesk
Aug. 7 (BusinessDesk) - New Zealand shares rallied, with more volume through politically-driven sectors as the September election draws closer. A2 Milk Co rallied to another record, while Xero gave back some gains. More >>
NZ dollar little changed ahead of OCR review
Monday, 7 August 2017, 8:46 pm | BusinessDesk
Aug. 7 (BusinessDesk) - The New Zealand dollar was largely unchanged, capped by expectations the central bank may be more dovish on Thursday and by a strong rebound in the US dollar after solid jobs data overnight Friday. More >>
New Zealand inflation expectations ease: RBNZ survey
Monday, 7 August 2017, 8:45 pm | BusinessDesk
Aug. 7 (BusinessDesk) - New Zealand firms dialled back their inflation expectations for the next two years, which will likely add to the view the central bank will delay any forecast rate hikes even further at its Thursday review. More >>
Australia's Capilano Honey profits bolstered
Monday, 7 August 2017, 8:44 pm | BusinessDesk
Australia's Capilano Honey profits bolstered from capital gain in asset sale to Comvita JV More >>
PledgeMe closes in on profitability in 2017
Monday, 7 August 2017, 8:43 pm | BusinessDesk
Aug. 7 (BusinessDesk) - PledgeMe came within cooee of turning a profit in the 2017 financial year, boosting revenue from fees to use its equity crowdfunding and peer-to-peer lending platform while also clamping down on costs, and is considering adding another ... More >>
Ravensdown posts 18% drop in FY earnings as it cuts prices
Monday, 7 August 2017, 8:42 pm | BusinessDesk
Ravensdown posts 18% drop in FY earnings as it cuts prices, invests for future growth More >>
Bovine semen ruled out as cause of NZ mycoplasma outbreak
Monday, 7 August 2017, 8:41 pm | BusinessDesk
Aug. 7 (BusinessDesk) - The New Zealand unit of World Wide Sires - the marketing arm of US-based Select Sires - says the Ministry for Primary Industries has confirmed there is no evidence imported bovine semen has developed a resistance to antibiotics ... More >>
World Week Ahead: Eyes on Macy’s, Kohl’s
Monday, 7 August 2017, 8:40 pm | BusinessDesk
Aug. 7 (BusinessDesk) - The latest corporate earnings including from US retailers Macy’s and Kohl’s and reports on inflation will draw attention this week. More >>
