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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 390]
UPDATE: Chinese subsidies on steel imports
Friday, 7 July 2017, 4:20 pm | BusinessDesk
July 7 (BusinessDesk) - Chinese subsidies on galvanised steel coil imports won't attract the wrath of the government after Commerce Minister Jacqui Dean accepted a report that they're too small to have injured the domestic industry, dominated ... More >>
ERoad shares jump 10%
Friday, 7 July 2017, 3:37 pm | BusinessDesk
July 7 (BusinessDesk) - ERoad shares have soared 31 percent since Wednesday, hitting a four-month high, as buying continued after the company posted positive quarterly sales earlier this week. More >>
Chinese subsidies on steel imports not hitting NZ margins
Friday, 7 July 2017, 2:49 pm | BusinessDesk
July 7 (BusinessDesk) - The Ministry of Business, Innovation and Employment says Chinese subsidies on galvanised steel coil imports are too small to have injured the domestic industry, dominated by Australian-owned New Zealand Steel, which cried ... More >>
Steel & Tube 2017 earnings will be up to 15% lower
Friday, 7 July 2017, 1:39 pm | BusinessDesk
July 7 (BusinessDesk) - Steel & Tube has issued a profit warning after a challenging second half and increased competition in the market. More >>
Summerset quarterly sales drop 18% from a year earlier
Friday, 7 July 2017, 12:07 pm | BusinessDesk
July 7 (BusinessDesk) - Summerset Group posted an 18 percent drop in second-quarter sales from a record year-earlier period although the retirement village operator and developer says its building programme is set to deliver more units later in the ... More >>
NZ dollar falls vs euro
Friday, 7 July 2017, 11:47 am | BusinessDesk
July 7 (BusinessDesk) - The New Zealand dollar fell against the euro after minutes of the last European Central Bank meeting showed policymakers discussed ending the bank's extraordinarily stimulatory monetary policy at their June 8-9 meeting. More >>
While you were sleeping: Stocks drop with bonds
Friday, 7 July 2017, 10:51 am | BusinessDesk
July 7 (BusinessDesk) - Equities followed bonds lower, as a disappointing French government debt auction fuelled concern about the outlook for government bonds on both sides of the Atlantic as central banks signal a bias towards raising interest ... More >>
MARKET CLOSE: NZ shares up, Comvita and Contact Energy gain
Thursday, 6 July 2017, 9:02 pm | BusinessDesk
MARKET CLOSE: NZ shares up, Comvita and Contact Energy gain while Arvida, Metro Glass fall More >>
NZ dollar edges lower ahead of G20 meeting
Thursday, 6 July 2017, 9:02 pm | BusinessDesk
July 6 (BusinessDesk) - The New Zealand dollar dipped in the local trading session ahead of the Group of 20 nations meeting this weekend, as investors remain nervous about North Korea after this week's missile test. More >>
UPDATE: 'Elderly' conservation law already up for review
Thursday, 6 July 2017, 9:00 pm | BusinessDesk
UPDATE: 'Elderly' conservation law already up for review as land swap deal nixed by Supreme Court More >>
Independent Liquor back in black on fatter margins
Thursday, 6 July 2017, 7:21 pm | BusinessDesk
July 6 (BusinessDesk) - Independent Liquor NZ, which owns alcohol brands such as Woodstock Bourbon and Boundary Road beer, returned to profit in 2016 as the country's biggest RTD maker fattened its margins and slashed its marketing spend in the face ... More >>
Council fail to overturn Ruataniwha land swap ruling
Thursday, 6 July 2017, 2:36 pm | BusinessDesk
July 6 (BusinessDesk) - Conservation Minister Maggie Barry and the Hawke’s Bay Regional Investment Co have failed to overturn a Court of Appeal ruling that quashed a land-swap deal involving conservation land needed to dam the Makaroro River for ... More >>
NZ government operating surplus bigger than expected
Thursday, 6 July 2017, 1:36 pm | BusinessDesk
July 6 (BusinessDesk) - The government's operating surplus beat the Treasury's forecast in the May budget again as the company and investment tax take beat expectations. More >>
NZX trading activity increases in June
Thursday, 6 July 2017, 1:34 pm | BusinessDesk
July 6 (BusinessDesk) - NZX trading activity increased in June, while the value of trade shrank, suggesting more activity by smaller investors. More >>
Meridian promotes retail GM Neal Barclay
Thursday, 6 July 2017, 12:02 pm | BusinessDesk
July 6 (BusinessDesk) - Meridian Energy chose an internal candidate to replace departing chief executive Mark Binns, with general manager of retail Neal Barclay poised to take over the reins of the country's biggest electricity generator at the end of ... More >>
NZ dollar little changed after FOMC minutes
Thursday, 6 July 2017, 11:47 am | BusinessDesk
July 6 (BusinessDesk) - The New Zealand dollar was little changed against the greenback after minutes of the last Federal Open Market Committee meeting gave no new insights into the outlook for US interest rates, and it gained against the Aussie as crude ... More >>
While you were sleeping: Fed mixed on balance sheet
Thursday, 6 July 2017, 11:47 am | BusinessDesk
July 6 (BusinessDesk) - Wall Street was mixed, as were US Federal Reserve policy makers about the timing to start unwinding the central bank’s balance sheet. More >>
MARKET CLOSE: NZ shares down led by Spark; Xero
Wednesday, 5 July 2017, 8:48 pm | BusinessDesk
July 5 (BusinessDesk) - New Zealand shares dropped with North Korean tensions spooking investors as the US Independence Day holiday left markets lacking direction. Spark New Zealand and A2 Milk Co fell while Xero and ERoad gained. More >>
NZ dollar holds gains against Aussie
Wednesday, 5 July 2017, 8:47 pm | BusinessDesk
July 5 (BusinessDesk) - The New Zealand dollar held its gains against the Australian dollar, which was sold yesterday on disappointment the Reserve Bank of Australia didn't take its cue from other central banks who have turned hawkish, preferring ... More >>
Māori co-investment fund touted
Wednesday, 5 July 2017, 8:46 pm | BusinessDesk
July 5 (BusinessDesk) - Government officials will buddy up with Ngāti Awa Group Holdings and the New Zealand Superannuation Fund to find out whether it's feasible to set up an investment fund for various iwi to pool their resources. More >>
