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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 420]
UPDATE: Infratil loses big chunk of bus contract
Friday, 5 May 2017, 2:27 pm | BusinessDesk
May 5 (BusinessDesk) - Infratil, the publicly listed infrastructure investor, has lost most of its bus contract with the Greater Wellington Regional Council to Masterton-based Tranzit Group, which the council says can offer the service cheaper. More >>
Oceania Healthcare climbs 3.8% in NZX debt
Friday, 5 May 2017, 2:25 pm | BusinessDesk
Shares of residential aged care provider and retirement village operator Oceania Healthcare debuted at 82 cents, 3.8 percent higher than the offer price of 79 cents in the NZX's first listing of the year. More >>
Geneva Finance lifts annual profit 45% on increased lending
Friday, 5 May 2017, 1:13 pm | BusinessDesk
May 5 (BusinessDesk) - Geneva Finance lifted its full-year profit by 45 percent on increased lending and higher premium income from its insurance business. More >>
Infratil loses big chunk of Wellington council bus contract
Friday, 5 May 2017, 12:45 pm | BusinessDesk
May 5 (BusinessDesk) - Infratil, the publicly listed infrastructure investor, has lost most of its bus contract with the Greater Wellington Regional Council to Masterton-based Tranzit Group, which the council says can offer the service cheaper. More >>
Tegel chairman James Ogden unexpectedly quits
Friday, 5 May 2017, 12:26 pm | BusinessDesk
May 5 (BusinessDesk) - Tegel Group chairman James Ogden has unexpectedly quit the board effective immediately after less than a year overseeing the poultry company's direction as a publicly listed company, without an explanation. More >>
NZ dollar extends decline, touching 11-month low
Friday, 5 May 2017, 11:58 am | BusinessDesk
May 5 (BusinessDesk) - The New Zealand dollar extended its decline, briefly reaching an 11-month low overnight, as commodity prices continued to weaken, weighing on currencies tied to prices of raw materials including the Australian dollar. More >>
While you were sleeping: Oil slide weighs on Wall St
Friday, 5 May 2017, 10:22 am | BusinessDesk
May 5 (BusinessDesk) - Wall Street seesawed as optimism about better-than-expected corporate earnings offset a decline in energy stocks which dropped with the price of oil. More >>
MARKET CLOSE: NZ shares fall, led by Summerset
Thursday, 4 May 2017, 9:03 pm | BusinessDesk
MARKET CLOSE: NZ shares fall, led by Summerset as yield play comes off boil; Kathmandu gains More >>
NZ dollar falls as Fed statement keeps market focused
Thursday, 4 May 2017, 8:36 pm | BusinessDesk
May 4 (BusinessDesk) - The New Zealand dollar fell after the latest Federal Reserve statement kept intact speculation that the US central bank will continue with the two rate hikes it has flagged for 2017, starting with one in June. More >>
BioScience Managers to take control of Rex Bionics
Thursday, 4 May 2017, 8:11 pm | BusinessDesk
May 4 (BusinessDesk) - Rex Bionics has been thrown an A$10 million lifeline by Australian fund manager BioScience Managers in exchange for control of the New Zealand robotics firm listed on the London Stock Exchange's AIM market. More >>
Mondelez extracted $130m before quitting Dunedin
Thursday, 4 May 2017, 8:10 pm | BusinessDesk
May 4 (BusinessDesk) - Mondelez New Zealand Investments pulled out $130 million of dividends from its New Zealand business, more than twice the profits its generated is six years of ownership, before going ahead with shutting down the Cadbury factory ... More >>
Vector starts roll-out of new AI software to manage network
Thursday, 4 May 2017, 4:47 pm | BusinessDesk
May 4 (BusinessDesk) - Vector is starting a full roll-out of software that draws on artificial intelligence and machine-to-machine connectivity to manage its network with less intervention by people in what the power and telecommunications lines company ... More >>
NZ commodity prices dip in April
Thursday, 4 May 2017, 4:24 pm | BusinessDesk
May 4 (BusinessDesk) - New Zealand commodity prices slipped 0.2 percent in April as an excess supply of skim milk powder (SMP) and cheaper cheese weighed on the broader dairy sector. More >>
Beneficiaries hardest hit by inflation in Q1
Thursday, 4 May 2017, 3:25 pm | BusinessDesk
May 4 (BusinessDesk) - Beneficiaries were the hardest hit by inflation in the first quarter of this year, as they felt the impact of higher costs for cigarettes and tobacco. More >>
India trade expert advocates direct flights
Thursday, 4 May 2017, 2:25 pm | BusinessDesk
May 4 (BusinessDesk) - Fast-growing tourism and international student arrivals from India make it time to consider direct flights between New Zealand and major Indian cities, says the visiting head of a top Indian policy think-tank, Amitabh Kant. More >>
BNZ first-half earnings rise 9%
Thursday, 4 May 2017, 2:23 pm | BusinessDesk
May 4 (BusinessDesk) - Bank of New Zealand lifted first-half earnings 9 percent as the local subsidiary of National Australia Bank benefited from a smaller bill for bad debts as a recovery in global dairy prices alleviated stress on farmers' balance ... More >>
Kathmandu lifts third-quarter sales 9.3% on new products
Thursday, 4 May 2017, 1:51 pm | BusinessDesk
May 4 (BusinessDesk) - Kathmandu Holdings lifted third-quarter sales 9.3 percent which the outdoor equipment chain said was due to new product lines and better promotions. More >>
Dollar drops as Fed statement leaves June rate hike likely
Thursday, 4 May 2017, 12:32 pm | BusinessDesk
May 4 (BusinessDesk) - The New Zealand dollar declined as the Federal Reserve gave an assessment of US economic growth that was in line with expectations, keeping open the prospect of another hike to US interest rates in June. More >>
While you were sleeping: Fed sees transitory weakness
Thursday, 4 May 2017, 10:52 am | BusinessDesk
May 4 (BusinessDesk) - The US dollar strengthened while Wall Street pared losses after Federal Reserve policy makers said they expect the recent slowdown in economic growth to be “transitory. More >>
ComCom's unquantifiable judgement call on media merger
Wednesday, 3 May 2017, 11:19 pm | BusinessDesk
May 3 (BusinessDesk) - NZME and Fairfax New Zealand are most likely to focus any appeal against the Commerce Commission's rejection of their proposed merger on the unquantified view that the detriments to the quality and variety of news is greater ... More >>
