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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 421]
MARKET CLOSE: NZ shares fall on Air NZ profit-taking
Wednesday, 3 May 2017, 11:18 pm | BusinessDesk
May 3 (BusinessDesk) - New Zealand shares fell, snapping a seven-day rally, as Air New Zealand was sold after recent gains and investors sold property companies such as Property for Industry, Goodman Property Trust and Kiwi Property Group on the view ... More >>
NZ dollar gains as data shows jobs growth
Wednesday, 3 May 2017, 11:17 pm | BusinessDesk
May 3 (BusinessDesk) - The New Zealand dollar rose as stronger-than-expected employment figures and an unexpectedly big increase in dairy prices stoked demand for the local currency, lifting it from the 10-month lows it hit last week. More >>
NZ Refining cautiously optimistic about 2017
Wednesday, 3 May 2017, 11:16 pm | BusinessDesk
May 3 (BusinessDesk) - New Zealand Refining told shareholders there is continued support for increased refining margins and the company is cautiously upbeat about 2017. More >>
BUDGET: English flags $321M social investment package
Wednesday, 3 May 2017, 5:23 pm | BusinessDesk
May 3 (BusinessDesk) - Prime Minister Bill English earmarked $321 million from this month's budget to go into a social investment programme targeting the most vulnerable sectors of society where he says an early and bigger intervention can save taxpayers ... More >>
Kiwi dollar at 'pretty positive' level for exporters
Wednesday, 3 May 2017, 4:36 pm | BusinessDesk
May 3 (BusinessDesk) - Prime Minister Bill English says the kiwi dollar, which is down 4.3 percent since the Reserve Bank's policy statement in February, is now at a "pretty positive" level for exporters and providing a reasonable balance ... More >>
PGC may take Torchlight case to Supreme Court
Wednesday, 3 May 2017, 4:33 pm | BusinessDesk
May 3 (BusinessDesk) - Pyne Gould Corp said it will consider taking a case involving its Torchlight Fund No 1 LP unit to the Supreme Court after the Court of Appeal ordered it to pay a late payment fee to Wilaci. More >>
UPDATE: NZ jobless rate falls to 4.9%
Wednesday, 3 May 2017, 3:44 pm | BusinessDesk
May 3 (BusinessDesk) - New Zealand’s unemployment rate fell more than expected in the first quarter, however the continuing influx of migrants kept wage inflation muted, adding to the view that interest rates are unlikely to budge any time soon. More >>
Manji Family increases Snakk Media stake to 17%
Wednesday, 3 May 2017, 2:11 pm | BusinessDesk
May 3 (BusinessDesk) - A family trust associated with Raf Manji, the Christchurch City councillor challenging Gerry Brownlee for the seat of Ilam at the next election, has become the largest shareholder in Snakk Media after buying new shares to top ... More >>
G3 warns UK souvenir unit faces earnings hit
Wednesday, 3 May 2017, 2:03 pm | BusinessDesk
May 3 (BusinessDesk) - G3 Group's British souvenir business faces a "significant profit downgrade" that has the NXT-listed mail operations and document manager's board trying to figure out ways to mitigate the decline. More >>
NZ jobless rate falls to 4.9% in March quarter
Wednesday, 3 May 2017, 2:01 pm | BusinessDesk
May 3 (BusinessDesk) - New Zealand’s unemployment rate fell more than expected in the first quarter, however the continuing influx of migrants meant the labour force participation rate reached a fresh all-time high and wage inflation remained ... More >>
Auckland house sale volumes slump to 9-year low in April
Wednesday, 3 May 2017, 1:42 pm | BusinessDesk
May 3 (BusinessDesk) - Auckland house sale volumes plummeted in April to their lowest level for the month since the 2008 global financial crisis, as the average price slipped from a record high, according to realtor Barfoot & Thompson. More >>
Fairfax moves fast to confirm cuts to news production
Wednesday, 3 May 2017, 1:20 pm | BusinessDesk
May 3 (BusinessDesk) - News publisher Fairfax Media is already moving to cut back its investment in New Zealand news production, with Australian-based chief executive Greg Hywood saying the "disappointing" decision by the New Zealand Commerce ... More >>
CBL sees customers up for grabs in Brexit uncertainty
Wednesday, 3 May 2017, 1:15 pm | BusinessDesk
May 3 (BusinessDesk) - CBL Corp expects to pick up new British customers wanting greater certainty from their insurance providers as the UK exits from the European Union. More >>
NZX trading values, volumes fall in April
Wednesday, 3 May 2017, 12:34 pm | BusinessDesk
May 3 (BusinessDesk) - The value and volume of trading on New Zealand stock market operator NZX fell in April. More >>
ComCom sticks to its guns in rejecting NZME-Fairfax merger
Wednesday, 3 May 2017, 11:46 am | BusinessDesk
May 3 (BusinessDesk) - The Commerce Commission has stuck to its guns in rejecting a proposed tie-up between the country's major news publishers Fairfax New Zealand and NZME, reiterating its concerns that while the merger could buy the companies ... More >>
NZ dollar extends gains as dairy prices rise
Wednesday, 3 May 2017, 11:36 am | BusinessDesk
May 3 (BusinessDesk) - The New Zealand dollar extended its gains after dairy prices rose more than expected in the latest GlobalDairyTrade auction and traders looked ahead to this morning's first-quarter labour market data, which expected to show ... More >>
NZ property values plateau
Wednesday, 3 May 2017, 10:27 am | BusinessDesk
May 3 (BusinessDesk) - New Zealand property values stalled in the three months through April as tighter credit conditions and restrictions on riskier mortgage lending has seen dwindling sales numbers, says state-owned valuer Quotable Value. More >>
While you were sleeping: Apple climbs to record
Wednesday, 3 May 2017, 10:26 am | BusinessDesk
May 3 (BusinessDesk) - Wall Street was mixed as investors awaited Apple’s latest earnings. More >>
Dairy product prices rise more than expected
Wednesday, 3 May 2017, 10:04 am | BusinessDesk
May 3 (BusinessDesk) - Dairy product prices advanced at the Global Dairy Trade auction, increasing for the fourth consecutive time amid strong demand. More >>
MARKET CLOSE: NZ shares gain as hunt for yield lifts Air NZ
Tuesday, 2 May 2017, 9:04 pm | BusinessDesk
May 2 (BusinessDesk) - New Zealand shares rose for a seventh day, following Wall Street higher, as a pickup in risk appetite prompted investors to renew their hunt for stocks offering relatively high dividends. Air New Zealand and Genesis Energy ... More >>
