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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 376]
MARKET CLOSE: Shares fall as Kathmandu, Xero give up gains
Friday, 4 August 2017, 8:35 pm | BusinessDesk
Aug. 4 (BusinessDesk) - New Zealand shares fell, with Kathmandu Holdings and Xero dropping while A2 Milk Co hit a record high More >>
NZ dollar heads for 1.1% weekly decline
Friday, 4 August 2017, 8:34 pm | BusinessDesk
Aug. 4 (BusinessDesk) - The New Zealand dollar is headed for a 1.1 percent weekly decline as investors increasingly expect the central bank to dial back its forecasts to show interest rates on hold for even longer at next week's policy review. More >>
A&G Price owed $5.2 mln as cash flow woes sink firm
Friday, 4 August 2017, 6:50 pm | BusinessDesk
Aug. 4 (BusinessDesk) - A&G Price, the Thames engineering company which went into liquidation last week, owed $5.2 million to its creditors, the liquidator's first report says. More >>
RBNZ may dial back forecasts to hold rates for longer
Friday, 4 August 2017, 6:35 pm | BusinessDesk
RBNZ may dial back forecasts to show rates on hold for longer, could even signal a cut More >>
Eastland Group full-year profit falls 2.6%
Friday, 4 August 2017, 4:29 pm | BusinessDesk
Aug. 4 (BusinessDesk) - Eastland Group, the community trust-owned company that runs Gisborne's port, airport and electricity distribution businesses, posted a 2.6 percent decline in full-year profit as operating expenses grew faster than revenue. That ... More >>
Private equity group buys Queenstown's Active Adventures
Friday, 4 August 2017, 4:11 pm | BusinessDesk
Aug. 4 (BusinessDesk) - An Australian private equity consortium has bought Queenstown-based tour agency Active Adventures, with two of the former owners staying on the board. More >>
Millennium & Copthorne first-half profit bolstered
Friday, 4 August 2017, 4:01 pm | BusinessDesk
Aug. 4 (BusinessDesk) - Millennium & Copthorne Hotels New Zealand eked out a 1.7 percent gain in first-half profit largely on a strong performance from the NZX-listed residential property developer CDL Investments, which the hotel operator controls. More >>
AFT 'swimming with the tide against opioids' with Maxigesic
Friday, 4 August 2017, 3:01 pm | BusinessDesk
Aug. 4 (BusinessDesk) - AFT Pharmaceuticals' combination ibuprofen/paracetamol painkiller Maxigesic is well-positioned to capture Australian and US market share as those markets move away from opioid painkillers such as codeine, managing director Hartley Atkinson ... More >>
Decmil preferred contractor for $60M 'modular prison cells'
Friday, 4 August 2017, 2:45 pm | BusinessDesk
Aug. 4 (BusinessDesk) - The Department of Corrections has made Australian construction firm Decmil Group its preferred contractor for a $60 million deal to build modular prison cells at two existing prisons. More >>
ERoad tips record sales in 2018 as NZ firms embrace new tech
Friday, 4 August 2017, 12:26 pm | BusinessDesk
Aug. 4 (BusinessDesk) - ERoad expects to post record sales in the current financial year as its second generation of technology is embraced by New Zealand firms keen on improving driver safety and as a looming North American compliance regime drives ... More >>
NZ dollar gains vs pound after BoE keeps rates unchanged
Friday, 4 August 2017, 11:40 am | BusinessDesk
Aug. 4 (BusinessDesk) - The New Zealand dollar rose against the British pound after the Bank of England kept its benchmark interest rate unchanged and lowered its forecasts for economic growth, inflation and wages citing the likely impact of exiting the ... More >>
While you were sleeping: Tesla jumps, Wall St mixed
Friday, 4 August 2017, 11:19 am | BusinessDesk
Aug. 4 (BusinessDesk) - Wall Street was mixed, as the Dow continued its record-setting streak, while tech stocks including Apple and Amazon slid as investors locked in some profits. More >>
MARKET CLOSE: NZ shares rise, Kathmandu + Briscoes gain
Thursday, 3 August 2017, 8:37 pm | BusinessDesk
MARKET CLOSE: NZ shares rise, Kathmandu + Briscoes gain on sales while Xero at new high. More >>
T&G Global first-half profit halves
Thursday, 3 August 2017, 8:16 pm | BusinessDesk
Aug. 3 (BusinessDesk) - T&G Global, the fruit marketing firm controlled by Germany's BayWa, reporting a 49 percent slump in first-half profit as poor weather weighed on the timing of the domestic pipfruit harvest, reducing fruit volumes and margins. More >>
Dollar declines as investors see RBNZ dialing back rate hike
Thursday, 3 August 2017, 8:10 pm | BusinessDesk
Aug. 3 (BusinessDesk) - The New Zealand dollar fell to a nine-day low on growing expectations that the central bank will shift to an even more neutral stance at next Thursday's policy review and signal interest rates will be on hold for longer. More >>
Snowball Effect records first profit
Thursday, 3 August 2017, 8:02 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Snowball Effect recorded a full-year profit driven by a modest tax benefit, while revenue rose faster than expenses, narrowing the equity crowdfunding platform's pre-tax loss. More >>
CORRECT: NZ Windfarms to buy Te Rere Hau wind farm assets
Thursday, 3 August 2017, 7:08 pm | BusinessDesk
CORRECT: NZ Windfarms to buy Te Rere Hau wind farm distribution assets from Powerco for $17.3M More >>
Auditor General resigns ahead of Ministry fraud report
Thursday, 3 August 2017, 4:26 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Auditor-General Martin Matthews has resigned before the release of a report into his handling of a major fraud case when he led the Transport Ministry. More >>
NZ commodity prices level off in July, annual growth strong
Thursday, 3 August 2017, 4:16 pm | BusinessDesk
Aug. 3 (BusinessDesk) - New Zealand commodity prices dipped in July, with meat prices down for the first time this year, though prices across raw materials remain strong. More >>
$200M a year in extra tax from multinationals
Thursday, 3 August 2017, 3:14 pm | BusinessDesk
Aug. 3 (BusinessDesk) - The government has doubled its estimate for extra tax it may reap from multinationals as a result of plans to crack down on base erosion and profit shifting (BEPS) that are used minimise their taxes worldwide. More >>
