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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 384]
UPDATE: Fletcher dumps Adamson in face of dissatisfaction
Thursday, 20 July 2017, 1:13 pm | BusinessDesk
July 20 (BusinessDesk) - Fletcher Building has taken the unusual step of dumping its chief executive, Mark Adamson, who leaves immediately with the loss of share options and other incentives as the company slashed its full-year earnings guidance ... More >>
NZ dollar falls to two-month low vs Aussie
Thursday, 20 July 2017, 12:14 pm | BusinessDesk
July 20 (BusinessDesk) - The New Zealand dollar fell to a two-month low against a resurgent Australian dollar which reached a two-year high overnight as the price of iron ore rallied. More >>
Fletcher CEO Mark Adamson to step down
Thursday, 20 July 2017, 11:59 am | BusinessDesk
July 20 (BusinessDesk) - Fletcher Building chief executive Mark Adamson has stepped down, with Francisco Irazusta named as interim replacement, and chairman Ralph Norris says the board deemed it the right time for new leadership. The announcement came ... More >>
While you were sleeping: Wall St hits record highs
Thursday, 20 July 2017, 11:19 am | BusinessDesk
July 20 (BusinessDesk) - Wall Street gained, with the S&P 500 and the Nasdaq touching record highs, amid optimism about US corporate earnings. More >>
GeoOp plans two-for-one share consolidation to boost price
Wednesday, 19 July 2017, 8:37 pm | BusinessDesk
GeoOp plans two-for-one share consolidation to boost price for ASX listing By Jonathan Underhill More >>
MARKET CLOSE: NZ shares at record, Westpac and ANZ lead
Wednesday, 19 July 2017, 8:32 pm | BusinessDesk
July 19 (BusinessDesk) - New Zealand shares rose to a fresh record, led by Westpac Banking Corp and Australia & New Zealand Banking Corp on positive regulatory news out of Australia, while Contact Energy fell after weaker monthly statistics. More >>
NZ dollar falls vs Aussie, gains against greenback
Wednesday, 19 July 2017, 8:31 pm | BusinessDesk
July 19 (BusinessDesk) - The New Zealand dollar extended its slide against the Aussie but some market participants say it may reverse course and rise in the medium term if the Reserve Bank begins raising interest rates ahead of its counterpart across ... More >>
UK fund's A$200M investment commitment validates Powerhouse
Wednesday, 19 July 2017, 8:30 pm | BusinessDesk
July 19 (BusinessDesk) - London Stock Exchange-listed IP Group's decision to invest A$200 million over 10 years in commercialising scientific innovations from universities Down Under validates the business model of ASX-listed tech incubator Powerhouse Ventures, ... More >>
FMA and KiwiSaver managers
Wednesday, 19 July 2017, 4:06 pm | BusinessDesk
July 19 (BusinessDesk) - The Financial Markets Authority has confirmed it will allow KiwiSaver fund managers to use two different methods to show how much they are charging people to manage their funds, with both able to provide investors with the information ... More >>
Maori settlement groups achieve higher returns on assets
Wednesday, 19 July 2017, 3:03 pm | BusinessDesk
July 19 (BusinessDesk) - Maori iwi groups that have received settlements from the Crown achieved a higher average return on assets than New Zealand's biggest listed companies, but paid out a lower level of dividends, according to research by ANZ ... More >>
Labour's alternative Budget reprioritises $17bn
Wednesday, 19 July 2017, 2:30 pm | BusinessDesk
July 19 (BusinessDesk) - A Labour Party-led government would rejig tax and spending priorities to redirect $17 billion over four years to build up public health and education, put an extra 1,000 police on the beat and boost low and middle-income ... More >>
RBNZ says no need for prescriptive requirements
Wednesday, 19 July 2017, 2:22 pm | BusinessDesk
July 19 (BusinessDesk) - Cyber-attack poses a significant threat to the global financial system but the Reserve Bank has decided not to introduce more prescriptive requirements at this stage due to the swiftly changing nature of both the threats and the technology, ... More >>
Slingshot powers higher in Auckland
Wednesday, 19 July 2017, 12:33 pm | BusinessDesk
July 19 (BusinessDesk) - Slingshot, owned by ASX-listed telecommunications company Vocus Communications New Zealand, was the top growing power company in Auckland last month, despite not being officially launched and only selling power to existing broadband ... More >>
NZ dollar gains as US healthcare reform stumbles
Wednesday, 19 July 2017, 11:50 am | BusinessDesk
July 19 (BusinessDesk) - The New Zealand dollar rose against a broadly weaker greenback in the face of the collapse of a bill to reform US healthcare that eroded confidence in US President Donald Trump's ability to enact policy. More >>
While you were sleeping: Goldman drops, Netflix jumps
Wednesday, 19 July 2017, 11:24 am | BusinessDesk
Dairy product prices edge higher, butter continues its climb
Wednesday, 19 July 2017, 10:09 am | BusinessDesk
July 19 (BusinessDesk) - Dairy product prices rose at the Global Dairy Trade auction, gaining for the first time in three auctions, with butter outpacing the other commodities amid strong consumer appetite for natural, full-fat products. More >>
F&P Healthcare's Gradon sells almost one third of his shares
Wednesday, 19 July 2017, 9:43 am | BusinessDesk
July 18 (BusinessDesk) - Fisher & Paykel Healthcare managing director Lewis Gradon sold almost one third of his shares in the medical device maker, raising about $3.1 million to help buy a house. More >>
MARKET CLOSE: NZX50 at record
Tuesday, 18 July 2017, 9:04 pm | BusinessDesk
July 18 (BusinessDesk) - New Zealand shares hit a record as weaker CPI numbers bolstered shares, with dividend stocks like Mercury New Zealand and Trustpower benefiting. More >>
Electricity retailers seek 'ring-fencing' of competition
Tuesday, 18 July 2017, 8:20 pm | BusinessDesk
July 18 (BusinessDesk) - Electricity retailers are urging regulators to 'ring-fence' solar, battery and other emerging technology businesses being pursued by monopoly electricity network owners to allow competition in new electricity services to flourish. More >>
NZ dollar falls vs Aussie, 'parity party cancelled'
Tuesday, 18 July 2017, 8:18 pm | BusinessDesk
July 18 (BusinessDesk) - The New Zealand dollar took a tumble against the Australian dollar after weak domestic inflation contrasted sharply with a more upbeat economic outlook from the Reserve Bank of Australian in the minutes of its last meeting. More >>
