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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 419]
MARKET CLOSE: NZ shares join global rally
Monday, 8 May 2017, 8:49 pm | BusinessDesk
May 8 (BusinessDesk) - New Zealand shares pushed higher, led by Air New Zealand and Port of Tauranga, as the local bourse joined a global rally after Emmanuel Macron was elected president of France with a business-friendly vision of European integration. More >>
NZ dollar gains as geopolitical fears wane
Monday, 8 May 2017, 8:48 pm | BusinessDesk
May 8 (BusinessDesk) - The New Zealand dollar rose as waning geopolitical concerns revived investors' risk appetite and demand for growth-linked currencies offering higher returns. More >>
Record car sales boost Holden NZ, Mercedes-Benz NZ
Monday, 8 May 2017, 7:39 pm | BusinessDesk
May 8 (BusinessDesk) - Revenue at Holden New Zealand and Mercedes-Benz New Zealand rose in calendar 2016 as new car sales continue to top records, but both companies also reported a higher cost of sales, largely to related entities, which weighed ... More >>
First trade ministerial advisory group 'collegial': McClay
Monday, 8 May 2017, 7:06 pm | BusinessDesk
May 8 (BusinessDesk) - The first gathering of a ministerial advisory group set up to help drive the government's public outreach on international trade started with a meeting of the minds on trade's importance to New Zealand's economy, says Trade ... More >>
Wellington buildings need to be better than bare minimum
Monday, 8 May 2017, 4:41 pm | BusinessDesk
May 8 (BusinessDesk) - Wellington's buildings need to exceed the minimum standard set by the building code if the capital city wants to improve its resilience to a major earthquake, says California seismic safety commissioner and engineer Kit Miyamoto. More >>
Failed lender Strategic Finance settlement sum gets boost
Monday, 8 May 2017, 4:24 pm | BusinessDesk
May 8 (BusinessDesk) - Failed lender Strategic Finance's near-three-year-old $22 million settlement got a small cash injection after action against an insurer, receivers said. More >>
Lamb export prices increase to multi-year high
Monday, 8 May 2017, 2:54 pm | BusinessDesk
May 8 (BusinessDesk) - Export prices for lamb pushed higher last month as solid demand overseas coincided with soft supply from New Zealand, the world's largest exporter of lamb meat, according to AgriHQ. More >>
RBNZ expected to keep rates on hold
Monday, 8 May 2017, 2:36 pm | BusinessDesk
May 8 (BusinessDesk) - The Reserve Bank is widely expected to keep interest rates on hold on Thursday but growing signs of inflationary pressure and a weaker New Zealand dollar mean it may signal rate hikes by late 2018 rather than 2019. More >>
Fairfax questions complexity of A$2.5B break-up bid
Monday, 8 May 2017, 2:34 pm | BusinessDesk
May 8 (BusinessDesk) - Australasian news publisher Fairfax Media this morning confirmed to investors that a "non-binding indicative proposal" from US-based private equity firm TPG to buy its three most powerful Australian newspaper titles and the company's ... More >>
Westpac NZ's first-half earnings rise
Monday, 8 May 2017, 1:53 pm | BusinessDesk
May 8 (BusinessDesk) - Westpac Banking Corp's New Zealand unit eked out a 2 percent gain in first-half earnings as a reversal in charges on bad debt offset shrinking margins that reflect competition for depositors. More >>
Blis Technologies falls short of maiden net profit
Monday, 8 May 2017, 12:02 pm | BusinessDesk
May 8 (BusinessDesk) - Blis Technologies missed guidance for a maiden annual profit, having already downgraded the earnings outlook in February, as sales growth slowed to 16 percent. More >>
NZ dollar falls vs euro on signs of Macron win
Monday, 8 May 2017, 11:31 am | BusinessDesk
May 8 (BusinessDesk) - The New Zealand dollar fell against the euro as early projections showed centrist Emmanuel Macron has won a decisive victory in the French presidential election, giving that nation a leader committed to the European Union. More >>
World Week Ahead: US retailers, retail sales
Monday, 8 May 2017, 10:10 am | BusinessDesk
May 8 (BusinessDesk) - With Wall Street at record highs, investors this week will scrutinise earnings from companies including Nordstrom as well as US economic data such as the latest retail sales. More >>
MARKET CLOSE: NZ shares fall, weighed by Comvita and Tegel
Friday, 5 May 2017, 9:08 pm | BusinessDesk
May 5 (BusinessDesk) - New Zealand shares inched lower, led by manuka honey producer Comvita on jitters related to the discovery of a fungal plant and as Tegel Group declined on news its chairman was leaving after less than a year in the job. Gains ... More >>
NZ dollar gains from 11-month low
Friday, 5 May 2017, 8:14 pm | BusinessDesk
May 5 (BusinessDesk) - The New Zealand dollar gained from an 11-month low as rising inflation expectations halted the downward pressure on the kiwi, that it's been sharing with other currencies sensitive to falling commodity prices. More >>
NZ businesses lift one and two-year inflation expectations
Friday, 5 May 2017, 7:47 pm | BusinessDesk
May 5 (BusinessDesk) - New Zealand firms lifted their expectations for inflation over the next two years, with the consumers price index seen firmly returning to the Reserve Bank's target level, but they also dialled back expectations for economic ... More >>
UPDATE: Oceania Healthcare climbs 3.8% in NZX debt
Friday, 5 May 2017, 4:11 pm | BusinessDesk
May 5 (BusinessDesk) - Funds raised by Oceania Healthcare will be used to develop its existing land bank but the company is open to new sites down the track, both in New Zealand and potentially in Australia, its chief executive said after its shares ... More >>
Farmers hold back wool from auction in weak market
Friday, 5 May 2017, 3:54 pm | BusinessDesk
May 5 (BusinessDesk) - Less wool than forecast was offered at New Zealand's weekly auction as farmers held back bales from sale in a weak market. More >>
Trends Publishing challenges High Court ruling
Friday, 5 May 2017, 3:22 pm | BusinessDesk
May 5 (BusinessDesk) - Trends Publishing International, which claims it was left in a cash squeeze after Callaghan Innovation rescinded its research grant, has challenged a High Court decision to set aside a compromise deal it struck with creditors that ... More >>
Comvita shares slump 9.4% on Deutsche Bank downgrade
Friday, 5 May 2017, 3:13 pm | BusinessDesk
May 5 (BusinessDesk) - Comvita shares sank 9.4 percent as investment analysts cut their valuation for the manuka honey products maker, coinciding with yet another problem out of the Te Puke-based company's control with the discovery of Myrtle Rust ... More >>
