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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 415]
Balex Marine sunk by high costs, slow sales
Wednesday, 17 May 2017, 11:15 am | BusinessDesk
May 16 (BusinessDesk) - Balex Marine, the automatic boat loader maker, has been washed away after the high cost of manufacturing and slow sales saw the Tauranga-based company burn through the crowdfunded $330,000 it raised last October More >>
While you were sleeping: Fresh Wall St records
Wednesday, 17 May 2017, 10:47 am | BusinessDesk
May 17 (BusinessDesk) - Wall Street fluctuated, with the S&P 500 retreating from a record high reached earlier in the day, amid disappointing earnings from TJX and mixed US economic data. More >>
Dairy product prices advance for fifth straight auction
Wednesday, 17 May 2017, 10:23 am | BusinessDesk
May 17 (BusinessDesk) - Dairy product prices rose at the Global Dairy Trade auction, increasing for the fifth consecutive time, amid solid demand for fat products. More >>
MARKET CLOSE: NZ shares fall, led by Heartland
Tuesday, 16 May 2017, 9:25 pm | BusinessDesk
May 16 (BusinessDesk) - New Zealand shares fell, led by companies that have outperformed the index this year, as investors took profits from Heartland Bank and Chorus. Trading was muted ahead of corporate earnings reports later in the week. More >>
NZ dollar falls in tight range with subdued volatility
Tuesday, 16 May 2017, 9:24 pm | BusinessDesk
May 16 (BusinessDesk) - The New Zealand dollar fell while continuing to trade in a narrow range as investors brushed off heightened uncertainty around North Korea and the Trump administration in the US and push stocks on Wall Street to new highs. More >>
Govt announces Auckland house-building blitz
Tuesday, 16 May 2017, 4:00 pm | BusinessDesk
May 16 (BusinessDesk) - The Crown-owned housing agency, Housing New Zealand, will build a net 17,207 new affordable homes over the next decade in the government's biggest new state housing announcement in more than eight years in government. More >>
Methven shares drop to 15-month low on profit warning
Tuesday, 16 May 2017, 3:48 pm | BusinessDesk
May 16 (BusinessDesk) - Methven shares fell to a 15-month low after the company said it expects annual profit will fall by as much as 15 percent after steady investment didn't deliver the anticipated growth for the listed shower and tapmaker. More >>
Cimic expects $82 mln of revenue from Tauranga's SH2 upgrade
Tuesday, 16 May 2017, 2:44 pm | BusinessDesk
May 16 (BusinessDesk) - ASX-listed Cimic Group subsidiary CPB Contractors will generate $82 million of revenue from the design and build of the State Highway 2 Baypark-to-Bayfair link upgrade in Tauranga. More >>
Xero director sells down stake to raise funds for charity
Tuesday, 16 May 2017, 2:04 pm | BusinessDesk
May 16 (BusinessDesk) - Xero director Craig Winkler, who founded rival accounting software firm MYOB, says he sold down his stake in the cloud-based software firm as part of a 10-year plan to liquidate assets to fund philanthropic pursuits. More >>
Miraka to export first own branded product into Malaysia
Tuesday, 16 May 2017, 1:04 pm | BusinessDesk
May 16 (BusinessDesk) - Miraka, the milk processor majority owned by several North Island Māori trusts, is to export its first branded consumer product into Malaysia, followed by shipments to Singapore, the Philippines and China, says Maori Development ... More >>
NZ dollar little changed after overnight gain
Tuesday, 16 May 2017, 11:53 am | BusinessDesk
May 16 (BusinessDesk) - The New Zealand dollar was little changed, having climbed overnight only to reverse track, as prices of crude oil and other commodities rose and traders looked ahead to tonight's dairy auction. More >>
While you were sleeping: Oil rallies
Tuesday, 16 May 2017, 10:44 am | BusinessDesk
May 16 (BusinessDesk) - Wall Street advanced, sending the S&P 500 and the Nasdaq to record highs, as oil prices climbed after the world’s top producers suggested they’re looking to extend a deal on global output cuts. More >>
Lyttelton Port outage tomorrow over WannaCry attack
Monday, 15 May 2017, 9:13 pm | BusinessDesk
May 15 (BusinessDesk) - Lyttelton Port Co, Christchurch's maritime hub, will suspend operations tomorrow to secure its IT system over threats from the global WannaCry ransomware cyber attack. More >>
MARKET CLOSE: NZ shares lose ground in jittery markets
Monday, 15 May 2017, 9:07 pm | BusinessDesk
May 15 (BusinessDesk) - New Zealand shares fell, led by A2 Milk and Air New Zealand, as weaker-than-expected data out of China compounded jitters after a ransomware attack that locked up more than 200,000 computers in over 150 countries and a missile test ... More >>
NZ dollar gains after stronger retail sales data
Monday, 15 May 2017, 9:06 pm | BusinessDesk
May 15 (BusinessDesk) - The New Zealand dollar rose after figures showed a stronger-than-expected gain in first-quarter retail sales, led by vehicles, but is expected to remain in its recent range until this week's dairy auction More >>
NZ central bankers are not fortune tellers
Monday, 15 May 2017, 9:05 pm | BusinessDesk
May 15 (BusinessDesk) - New Zealand's central bank monitors a wide range of data to gauge the current state of the economy and develop forecasts but "we are not fortune tellers," Reserve Bank assistant governor and head of economics ... More >>
Unchanged nitrogen loss from dairy farms
Monday, 15 May 2017, 9:04 pm | BusinessDesk
May 15 (BusinessDesk) - The dairy industry's year-three report on its commitment to mitigating the environmental impact of farming shows it has achieved six of 13 goals that were set out in 2013 but hasn't yet made a dent in nitrogen loss, underlining ... More >>
Ross Asset Management, Dick Smith spur insolvency law change
Monday, 15 May 2017, 9:02 pm | BusinessDesk
May 15 (BusinessDesk) - The Ross Asset Management Ponzi scheme and the collapse of consumer electronics retailer Dick Smith have prompted recommended changes to insolvency law that's currently under review. More >>
Carter Holt pulls A$55.4M dividend from Australia in 2016
Monday, 15 May 2017, 9:00 pm | BusinessDesk
May 15 (BusinessDesk) - Carter Holt Harvey Group pulled out an A$55.4 million dividend from its Australian unit in 2016, its first such return after several years of shoring up the wood products company's books. More >>
Government reaps $385M from duty on Imperial Tobacco sales
Monday, 15 May 2017, 3:18 pm | BusinessDesk
May 15 (BusinessDesk) - The government received $385 million in duty on sales of Imperial Tobacco New Zealand, the local unit of UK tobacco giant Imperial Brands Plc, in 2016 as the company posted its highest sales since at least 2001. More >>
