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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 38]
MARKET CLOSE: NZ shares edge higher in quiet trading
Wednesday, 17 July 2019, 8:57 pm | BusinessDesk
July 17 (BusinessDesk) - New Zealand shares edged up in quiet trading as exporters including Tourism Holdings and Air New Zealand led the market higher as a weaker currency underpinned their international earnings. Fletcher Building dropped below ... More >>
NZ dollar stalled amid uncertainty about US rate cuts
Wednesday, 17 July 2019, 8:31 pm | BusinessDesk
July 17 (BusinessDesk) - The New Zealand dollar was little changed as global currency markets tread water after surprisingly strong US retail trade data cast doubt on how much appetite the Federal Reserve will have to cut interest rates. More >>
RBNZ a ‘poor communicator’ - CBL’s Harris
Wednesday, 17 July 2019, 4:49 pm | BusinessDesk
July 17 (BusinessDesk) - The Reserve Bank’s failure to communicate was a major stumbling block for failed insurer CBL Corp. More >>
Methane target could be catastrophic - Shareholders' Council
Wednesday, 17 July 2019, 4:26 pm | BusinessDesk
July 17 (BusinessDesk) - The government's proposed 2050 methane reduction target could be "catastrophic" for New Zealand unless there is a major scientific breakthrough in the meantime, the Fonterra Shareholders' Council says. More >>
Greater role for gas in electrification of transport
Wednesday, 17 July 2019, 2:57 pm | BusinessDesk
July 17 (BusinessDesk) - Accelerating the take-up of electricity for transport and industry will require more gas-fired generation to be kept in the system for longer, projections by the Interim Climate Change Committee show. More >>
Chorus sees growth in high value gigabit fibre plans
Wednesday, 17 July 2019, 1:46 pm | BusinessDesk
July 17 (BusinessDesk) - Chorus reported a faster increase in more valuable gigabit fibre plans in the June quarter, which it says is driving revenue growth. More >>
Arvida gets 87% uptake in $92 mln rights offer
Wednesday, 17 July 2019, 1:20 pm | BusinessDesk
July 17 (BusinessDesk) - Arvida Group attracted about 86.5 percent uptake in an underwritten offer to existing investors and will now hold a shortfall bookbuild to bridge the difference. More >>
NZ dollar weakens after US retail sales boost greenback
Wednesday, 17 July 2019, 11:13 am | BusinessDesk
July 17 (BusinessDesk) - The New Zealand dollar pared some of its gains after stronger-than-expected US retail sales data cheered markets. More >>
Dairy product prices gain for first time in five auctions
Wednesday, 17 July 2019, 11:10 am | BusinessDesk
July 17 (BusinessDesk) - Dairy product prices rose at the Global Dairy Trade auction, climbing for the first time in five auctions, on stronger appetite for milk powder. More >>
MARKET CLOSE: NZ shares fall in listless trading
Tuesday, 16 July 2019, 9:21 pm | BusinessDesk
July 16 (BusinessDesk) - New Zealand shares fell for a second day on light volumes, with heavyweights Auckland International Airport, Fisher & Paykel Healthcare and A2 Milk weighing on the broader index. Meridian Energy and Contact Energy rose ... More >>
NZ dollar rises after CPI meets expectations; US dollar weak
Tuesday, 16 July 2019, 8:12 pm | BusinessDesk
July 16 (BusinessDesk) - The New Zealand dollar rose after inflation data came in bang on expectations, posing no impediment to the Reserve Bank cutting interest rates. Both the kiwi and Australian dollars were boosted by a weaker greenback as the latest ... More >>
UPDATE: Govt eyes 2025 for farm-level emissions pricing
Tuesday, 16 July 2019, 7:53 pm | BusinessDesk
July 16 (BusinessDesk) - The government plans to start policing emissions at the farm level from 2025 but has split with industry on how best to start bringing emissions down in the meantime. More >>
Yili’s Westland takeover gets OIO approval
Tuesday, 16 July 2019, 6:38 pm | BusinessDesk
July 16 (BusinessDesk) - The Overseas Investment Office has approved Inner Mongolia Yili Industrial Group’s purchase of Westland Co-operative Dairy Group, after finding Yili has the relevant business experience and has shown financial commitment. More >>
UPDATE: NZ 2Q inflation climbs in line with expectations
Tuesday, 16 July 2019, 5:07 pm | BusinessDesk
July 16 (BusinessDesk) - New Zealand’s consumers price index rose in the June quarter on higher prices for petrol, rent and ready-to-eat foods, but is unlikely to stave off pending interest rate cuts as the data was directly in line with expectations. More >>
Govt eyes 2025 for farm-level emissions pricing
Tuesday, 16 July 2019, 4:05 pm | BusinessDesk
July 16 (BusinessDesk) - The government plans to start policing emissions at the farm level from 2025 but has split with industry on how best to start bringing emissions down in the meantime. More >>
Govt won't "die in a ditch" for 100% renewable target
Tuesday, 16 July 2019, 4:00 pm | BusinessDesk
July 16 (BusinessDesk) - Energy Minister Megan Woods says the government “won’t die in a ditch” if its goal of 100 percent renewable electricity generation isn't reached by 2035. More >>
NZ 2Q CPI +0.6% on quarter, +1.7% on year
Tuesday, 16 July 2019, 2:04 pm | BusinessDesk
July 16 (BusinessDesk) - New Zealand’s consumers price index rose in the June quarter on higher prices for petrol, rent and ready-to-eat foods, but is unlikely to stave off pending interest rate cuts as the data was directly in line with expectations. More >>
Suspect company faces liquidation after director dies
Tuesday, 16 July 2019, 11:47 am | BusinessDesk
July 16 (BusinessDesk) - The registrar for companies has moved to dissolve wealth management company Denton Morrell after its director Matthew Butterfield died. More >>
NZ dollar holds gains; focus on domestic inflation data
Tuesday, 16 July 2019, 11:06 am | BusinessDesk
July 16 (BusinessDesk) - The New Zealand dollar held its gains ahead of second-quarter domestic inflation data as investors remained cheered by better-than-expected Chinese industrial production and retail sales. More >>
MARKET CLOSE: NZ shares slip onfears over Chinese growth
Monday, 15 July 2019, 8:54 pm | BusinessDesk
July 15 (BusinessDesk) - New Zealand shares fell, joining a downbeat day across Asia as slowing Chinese growth stoked fears that trade tensions will dent the global economy. AMP slumped after the Reserve Bank of New Zealand blocked the sale of its life insurance ... More >>
