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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 393]
Mark Warminger fined $400k for market manipulation
Friday, 30 June 2017, 4:25 pm | BusinessDesk
June 30 (BusinessDesk) - Former Milford Asset Management portfolio manager Mark Warminger has been ordered to pay $400,000 after the High Court ruled he manipulated the New Zealand stock market on two occasions in 2014. More >>
Hugh Green exits second listed asset with Turners sale
Friday, 30 June 2017, 4:21 pm | BusinessDesk
June 30 (BusinessDesk) - Interests associated with the estate of the late philanthropist Hugh Green have sold out of a second listed asset, with the $47 million sale of a stake in Turners Automotive Group, while daughter Maryanne Green has ceased to be ... More >>
SeaDragon auditor PwC tags accounts over factory value
Friday, 30 June 2017, 3:50 pm | BusinessDesk
June 30 (BusinessDesk) - Fish oil supplement maker SeaDragon's annual accounts were tagged by auditor PwC over the value attached to its long-delayed fish oil refinery, which relies on forecast revenue, something the accounting firm couldn't find enough ... More >>
House consents at 13-year record in May
Friday, 30 June 2017, 2:24 pm | BusinessDesk
June 30 (BusinessDesk) - Local councils across New Zealand approved 7 percent more residential building consents in May, with house consents at a 13-year high as the trend for new dwellings continues to increase. More >>
Plexure to cut workforce by a quarter
Friday, 30 June 2017, 2:10 pm | BusinessDesk
June 30 (BusinessDesk) - Plexure Group, the digital advertising firm formerly called VMob, plans to trim its workforce by more than a quarter in an effort generate positive cash flow by the end of the year. More >>
NZ employees more upbeat about labour market
Friday, 30 June 2017, 1:42 pm | BusinessDesk
June 30 (BusinessDesk) - New Zealanders became more optimistic about the state of the labour market in the second quarter as strong economic growth continued to generate jobs, although they're less upbeat about the outlook for wages. More >>
NZ crossbred wool prices fall to 7-year low
Friday, 30 June 2017, 1:34 pm | BusinessDesk
NZ crossbred wool prices fall to 7-year low amid lacklustre demand By Tina Morrison June 30 (BusinessDesk) - Prices for some crossbred wool grades fell to their lowest level in more than seven years at New Zealand's latest weekly auction as unsold stockpiles ... More >>
Tilt warns of weaker first quarter earnings
Friday, 30 June 2017, 12:29 pm | BusinessDesk
June 30 (BusinessDesk) - Tilt Renewables, the wind and solar generation facilities which split from Trustpower last year, has warned earnings will be as much as A$12 million lower for 2018 after a weak start to the year. More >>
Concerns over Vero's Tower bid pushes out decision deadline
Friday, 30 June 2017, 11:59 am | BusinessDesk
June 30 (BusinessDesk) - The Commerce Commission has delayed its decision on whether Australian-owned Vero Insurance New Zealand will be allowed to buy NZX-listed rival Tower after raising some competition concerns about the proposed deal. More >>
NZ dollar falls with higher interest rates
Friday, 30 June 2017, 11:42 am | BusinessDesk
June 30 (BusinessDesk) - The New Zealand dollar fell as investors rethink the globally low interest rate environment with a Bank of England senior official joining the growing chorus of central bankers musing on the end to ultra-loose monetary policy. More >>
While you were sleeping: Tech stocks drop
Friday, 30 June 2017, 11:11 am | BusinessDesk
June 30 (BusinessDesk) - Wall Street declined as a slide in tech stocks outweighed a rally in bank stocks as central banks in the US, Canada, the UK and the eurozone signalled a stance towards tightening monetary policy. More >>
NZ firms unwilling to go down Internet of Things rabbithole
Thursday, 29 June 2017, 8:54 pm | BusinessDesk
June 29 (BusinessDesk) - New Zealand companies are reluctant to roll out 'Internet of Things' services, despite the country's preparedness and potential economic gain of doing so, according to an industry report. More >>
MARKET CLOSE: NZ shares rise; Restaurant Brands gains
Thursday, 29 June 2017, 8:37 pm | BusinessDesk
June 29 (BusinessDesk) - New Zealand shares rose, led by Restaurant Brands New Zealand, while Tourism Holdings and Fisher & Paykel Healthcare hit record highs. More >>
NZ dollar up on risk appetite
Thursday, 29 June 2017, 8:13 pm | BusinessDesk
NZ dollar up on risk appetite after hawkish central banks and US bank stress tests More >>
GeoOp shares suspended ahead of shareholder vote
Thursday, 29 June 2017, 7:41 pm | BusinessDesk
June 29 (BusinessDesk) - GeoOp, the unprofitable management app developer, will ask shareholders to vote on its plan to de-list from the NZAX and list on the ASX with an initial public offering in Australia and New Zealand. More >>
RESEND: Social housing leads to less jail time
Thursday, 29 June 2017, 7:27 pm | BusinessDesk
RESEND: Social housing leads to less jail time, more education for children, test case shows (Fixes garbled headline) More >>
Social housing test case leads to less jail time
Thursday, 29 June 2017, 7:08 pm | BusinessDesk
June 29 (BusinessDesk) - The government has released its first test case using anonymised data as part of its social investment plan, showing the effect social housing has on time people spend in jail, education and the impact on earnings. More >>
FMA pleased with NZX's market operations in 2016
Thursday, 29 June 2017, 7:06 pm | BusinessDesk
The Financial Markets Authority is very happy with the way NZX is tracking as the country's only licensed market operator, which has lifted its game under the market watchdog's regulatory regime. More >>
RBNZ says licensed insurers failing to comply
Thursday, 29 June 2017, 7:05 pm | BusinessDesk
June 29 (BusinessDesk) - The Reserve Bank says the overall level of compliance with disclosure rules on the part of licensed insurers falls well short of minimum requirements and needs to "markedly improve". More >>
NZ business confidence rises to 9-month high
Thursday, 29 June 2017, 4:55 pm | BusinessDesk
NZ business confidence rises to 9-month high, led by services, agriculture; home building weakens By Jonathan Underhill More >>
