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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 417]
MARKET CLOSE: NZ shares jump as RBNZ signals low rates
Thursday, 11 May 2017, 9:51 pm | BusinessDesk
MARKET CLOSE: NZ shares jump as RBNZ signals low rates for longer, Xero climbs on earnings More >>
Dollar falls after RBNZ unexpectedly sticks to rate track
Thursday, 11 May 2017, 9:50 pm | BusinessDesk
May 11 (BusinessDesk) - The New Zealand dollar dropped after the Reserve Bank surprised investors by keeping its interest rate track unchanged, despite recent data showing a spike in inflation and a strong labour market. More >>
RBNZ at odds with market economists over inflation outlook
Thursday, 11 May 2017, 9:48 pm | BusinessDesk
May 11 (BusinessDesk) - The Reserve Bank isn't convinced inflation pressures are building to such an extent that it needed to tinker with its flat interest rate track, putting it at odds with market economists. More >>
Wellington Airport FY profit rises 29%
Thursday, 11 May 2017, 9:46 pm | BusinessDesk
May 11 (BusinessDesk) - Wellington International Airport, the Infratil-controlled capital city gateway, posted a 29 percent gain in full-year profit on growth in aeronautical and passenger services income. More >>
Vital Healthcare to buy hospitals from Acurity for $68M
Thursday, 11 May 2017, 5:24 pm | BusinessDesk
May 11 (BusinessDesk) - Vital Healthcare Property Trust has entered a conditional agreement with Acurity Health Group to become its long-term real estate capital partner, helping redevelopment and grow Acurity’s portfolio of private hospitals in New ... More >>
Government chips in $178M to shore up tourism infrastructure
Thursday, 11 May 2017, 3:58 pm | BusinessDesk
May 11 (BusinessDesk) - The government announced a new $102 million Tourism Infrastructure Fund alongside $76 million for new and upgraded tourism infrastructure for the Department of Conservation ahead of the 2017 budget. More >>
UPDATE: Xero shares rise 6%
Thursday, 11 May 2017, 3:45 pm | BusinessDesk
May 11 (BusinessDesk) - Xero shares climbed 6 percent as the cloud-based accounting software firm moves closer to its first ever profit as customer numbers continue to swell and its 2017 full-year net loss narrowed as revenue grew. More >>
NZ food prices fall in April
Thursday, 11 May 2017, 2:37 pm | BusinessDesk
May 11 (BusinessDesk) - New Zealand food prices fell in April as increases in vegetable prices were offset by declines for grocery foods. More >>
Xero reports higher FY revenue, narrower net loss
Thursday, 11 May 2017, 1:40 pm | BusinessDesk
May 11 (BusinessDesk) - Xero, the cloud-based accounting software firm, narrowed its full-year loss as revenue gained. More >>
Z Energy triples annual profit after Chevron acquisition
Thursday, 11 May 2017, 1:04 pm | BusinessDesk
May 11 (BusinessDesk) - Z Energy, the New Zealand listed service station chain, more than tripled its annual profit after acquiring Chevron New Zealand's Caltex and Challenge! brands. More >>
RBNZ's Wheeler keeps OCR at 1.75%
Thursday, 11 May 2017, 12:28 pm | BusinessDesk
May 11 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent and also kept the rate track unchanged, saying the recent jump in consumer prices may only be temporary. The kiwi dollar fell on disappointment ... More >>
NZ dollar gains ahead of RBNZ statement
Thursday, 11 May 2017, 11:39 am | BusinessDesk
May 11 (BusinessDesk) - The New Zealand dollar rose ahead of the Reserve Bank's monetary policy statement, which is expected to see the official cash rate kept at 1.75 percent but with an interest rate hike signalled sooner than in its last MPS three months ... More >>
While you were sleeping: Wall St digests Comey impact
Thursday, 11 May 2017, 11:03 am | BusinessDesk
May 11 (BusinessDesk) - Wall Street was mixed as investors tried to assess the long-term impact of US President Donald Trump’s stunning firing of FBI Director James Comey. More >>
MARKET CLOSE: NZ stocks again, boosted by Heartland Bank
Wednesday, 10 May 2017, 9:06 pm | BusinessDesk
May 10 (BusinessDesk) - New Zealand stocks gained, led by local lender Heartland Bank for a second day as its rival Australian-owned banks faced new deposit levies across the Tasman, while Comvita extended its decline. More >>
Fonterra Australia to pay more in 2017/18 season
Wednesday, 10 May 2017, 8:47 pm | BusinessDesk
May 10 (BusinessDesk) - Fonterra Cooperative Group says an improvement in its Australian business and rising milk prices mean it will be able to pay its suppliers more in the season that kicks off in six weeks. More >>
NZ dollar little changed near 69 US cents
Wednesday, 10 May 2017, 8:46 pm | BusinessDesk
May 10 (BusinessDesk) - The New Zealand dollar was little changed near 69 US cents ahead of the Reserve Bank's monetary policy review tomorrow, where Reserve Bank governor Graeme Wheeler may bring forward the track of interest rate hikes. More >>
Delegat grape harvest growth slows
Wednesday, 10 May 2017, 8:45 pm | BusinessDesk
May 10 (BusinessDesk) - Delegat Group recorded a small gain in its Australian and New Zealand grape harvest but has enough stock on hand to meet its projected sales targets for the coming year. More >>
Counterfeits, name recognition a challenge for Zespri
Wednesday, 10 May 2017, 8:44 pm | BusinessDesk
May 10 (BusinessDesk) - Zespri Group’s expansion into China is continuing at pace, after the country last year overtook Japan as its biggest retail market, though the company is battling against counterfeiting and theft from local growers who want ... More >>
Government beefs up funding for R&D growth grants by $74.6M
Wednesday, 10 May 2017, 5:23 pm | BusinessDesk
May 10 (BusinessDesk) - Science and Innovation Minister Paul Goldsmith announced the government is beefing up its support for Callaghan Innovation’s research and development growth grants to meet growing demand. More >>
Tax fraudster Barrie Skinner turned down by Parole Board
Wednesday, 10 May 2017, 4:20 pm | BusinessDesk
May 10 (BusinessDesk) - Former Wellington accountant Barrie Skinner has had his latest application for an early release rejected by the Parole Board. More >>
