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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 394]
Labour wants to lift minimum wage, soften 90-day trial rules
Thursday, 29 June 2017, 4:52 pm | BusinessDesk
June 29 (BusinessDesk) - If elected in September, a Labour government would lift the minimum wage to $16.50 an hour and pay core public service workers a 'living wage', Labour leader Andrew Little said when presenting the party's employment relations ... More >>
'Out of date' copyright regime to go under the microscope
Thursday, 29 June 2017, 3:44 pm | BusinessDesk
June 29 (BusinessDesk) - "Out of date" copyright law won't go under the microscope until early next year as officials try to bridge divisions among opposing stakeholder groups to build consensus for the best policy approach. More >>
Govt stumps up $85 mln for Lincoln Uni innovation hub
Thursday, 29 June 2017, 3:02 pm | BusinessDesk
June 29 (BusinessDesk) - The government will inject $85 million to make sure Lincoln University's problematic building project to create an innovation hub gets over the line. More >>
Rubicon buys out ArborGen partners for US$29 million
Thursday, 29 June 2017, 1:27 pm | BusinessDesk
Rubicon buys out ArborGen partners for US$29 million, raises funds from new US investor More >>
Trilogy to buy controlling stake in Lanocreme maker Lanocorp
Thursday, 29 June 2017, 12:11 pm | BusinessDesk
June 29 (BusinessDesk) - Trilogy International, the scented candle and beauty products maker grappling with rising raw material costs, will spend $13.8 million buying control of smaller rival Lanocorp's New Zealand and Australian businesses. More >>
NZ dollar falls to 3-week low against pound
Thursday, 29 June 2017, 11:50 am | BusinessDesk
June 29 (BusinessDesk) - The New Zealand dollar fell to a three-week low against the pound after Bank of England governor Mark Carney signalled it may be necessary to remove some of the bank's monetary stimulus, suggesting interest rates could be ... More >>
While you were sleeping: Rate hikes ahead
Thursday, 29 June 2017, 11:01 am | BusinessDesk
June 29 (BusinessDesk) - Wall Street advanced amid fresh economic optimism after central bank chiefs in the UK and Canada signalled interest rates increases ahead. More >>
Powerhouse calls special meeting to dump Blair Bryant
Thursday, 29 June 2017, 9:00 am | BusinessDesk
June 28 (BusinessDesk) - Powerhouse Ventures has called a special meeting of shareholders to vote on removing Blair Bryant from the board of the ASX-listed, Christchurch-based technology incubator because its former chairman hasn't left voluntarily since it ... More >>
MARKET CLOSE: NZ shares mixed, SkyCity drags market down
Wednesday, 28 June 2017, 9:04 pm | BusinessDesk
June 28 (BusinessDesk) - New Zealand shares were mixed, with most of the market including Summerset Group Holdings and Westpac Banking Corp rising but a big trade in Sky City Entertainment tipping the index down. More >>
REPEAT: Shell NZ narrows FY loss
Wednesday, 28 June 2017, 9:03 pm | BusinessDesk
June 26 (BusinessDesk) - Shell New Zealand is keen to find suitors for its remaining New Zealand assets after the sale of its Kapuni onshore field helped narrow its loss in the year to December while Austrian oil and gas producer OMV AG's New Zealand ... More >>
NZ dollar steady, volatility possible as ECB forum continues
Wednesday, 28 June 2017, 9:02 pm | BusinessDesk
June 28 (BusinessDesk) - The New Zealand dollar spent the day treading water after its overnight tumble when European Central Bank president Mario Draghi hinted the ECB might start winding down its stimulus. The local currency could see further volatility ... More >>
C3 picked to run Tainui's Ruakura inland port
Wednesday, 28 June 2017, 9:01 pm | BusinessDesk
June 28 (BusinessDesk) - C3, the local on-wharf logistics firm owned by Linx Cargo Care Group, has been picked out of seven bids to operate Waikato-Tainui's inland port at Ruakura on Hamilton's city limits. More >>
Social Development prices social housing liability at $16.4B
Wednesday, 28 June 2017, 3:43 pm | BusinessDesk
June 28 (BusinessDesk) - The Ministry of Social Development has released its first valuation of the social housing system, part of the government's "social investment" approach to data collection and analysis. More >>
Holcim NZ turns to full-year loss
Wednesday, 28 June 2017, 3:17 pm | BusinessDesk
June 28 (BusinessDesk) - Holcim New Zealand, the local unit of the world's biggest cement maker, posted a full-year loss after it changed its business away from manufacturing and into importing and distribution, incurring higher distribution costs. More >>
Shell NZ narrows FY loss, OMV's NZ unit moves back to profit
Wednesday, 28 June 2017, 2:18 pm | BusinessDesk
June 26 (BusinessDesk) - Shell New Zealand is keen to find suitors for its remaining New Zealand assets after the sale of its Kapuni onshore field helped narrow its loss in the year to December while Austrian oil and gas producer OMV AG's New Zealand ... More >>
Outlook for NZ economic growth positive
Wednesday, 28 June 2017, 12:40 pm | BusinessDesk
June 28 (BusinessDesk) - The outlook for New Zealand's economic growth remains positive, albeit with considerable uncertainty remaining, especially internationally, the Reserve Bank says in its 2017-2020 Statement of Intent. More >>
SkyCity chair Chris Moller to retire
Wednesday, 28 June 2017, 12:22 pm | BusinessDesk
June 28 (BusinessDesk) - SkyCity Entertainment Group said chair Chris Moller will retire from New Zealand's only listed casino company at the end of this year, and be replaced by its new director Rob Campbell. More >>
Summerset says 2017 underlying earnings may rise by 33%
Wednesday, 28 June 2017, 12:06 pm | BusinessDesk
June 28 (BusinessDesk) - Summerset Group, the best-performing retirement village stock in the past 12 months, said 2017 underlying earnings may rise as much as 33 percent, driven by new sales of occupation rights to its units. More >>
NZ dollar tumbles vs euro
Wednesday, 28 June 2017, 11:42 am | BusinessDesk
June 28 (BusinessDesk) - The New Zealand dollar dropped to a two-week low against the euro after European Central Bank president Mario Draghi talked up the prospects for Europe's economic recovery and signs that inflation is stirring. More >>
While you were sleeping: Stocks slide
Wednesday, 28 June 2017, 11:05 am | BusinessDesk
June 28 (BusinessDesk) - Equities on both sides of the Atlantic fell as central bank chiefs signalled an easing of monetary stimulus. More >>
