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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 423]
RBNZ kicks off consultation on capital adequacy review
Monday, 1 May 2017, 4:43 pm | BusinessDesk
May 1 (BusinessDesk) - The Reserve Bank is seeking feedback in the first round of a review testing the capital settings lenders operate under to maintain a robust business. More >>
Cooperative Bank promotes David Cunningham as new boss
Monday, 1 May 2017, 3:27 pm | BusinessDesk
May 1 (BusinessDesk) - Cooperative Bank named general manager customer banking David Cunningham as the new chief executive at the second-tier lender. More >>
NZ angel funding hits record $69 million in 2016
Monday, 1 May 2017, 1:03 pm | BusinessDesk
May 1 (BusinessDesk) - Angel networks and funds invested a record $69 million into young New Zealand companies in 2016 and software and services continued to take the bulk of the money, the New Zealand Venture Investment fund said. More >>
Genesis agrees to buy LPG assets from Todd's Nova Energy
Monday, 1 May 2017, 12:50 pm | BusinessDesk
May 1 (BusinessDesk) - Genesis Energy has agreed to acquire the retail LPG business of Todd Corp's Nova Energy unit for $192 million, a move that will give New Zealand's biggest electricity retailer almost a fifth of that market. More >>
NZX first-quarter revenue dips 1.7% as agri sales slide
Monday, 1 May 2017, 12:39 pm | BusinessDesk
May 1 (BusinessDesk) - NZX revenue dipped 1.7 percent in the first three months of the year as sales from the stock market operator's recently overhauled agri division slumped by almost a third. More >>
Offers for remaining assets point to shortfall in repaying debt
Monday, 1 May 2017, 12:38 pm | BusinessDesk
May 1 (BusinessDesk) - Intueri Education Group says indicative offers for its remaining New Zealand colleges would not generate enough funds to repay all of $70.7 million in debt with ANZ Bank New Zealand. More >>
NZ King Salmon to get $1.8 million earnings boost
Monday, 1 May 2017, 12:16 pm | BusinessDesk
May 1 (BusinessDesk) - New Zealand King Salmon Investments will get a $1.8 million boost to annual profit after reaching a deal with a supplier over extra costs the fishing farmer had worn on its books in earlier years. More >>
NZ dollar near 10-month low
Monday, 1 May 2017, 11:43 am | BusinessDesk
May 1 (BusinessDesk) - The New Zealand dollar traded near a 10-month low after data showed sluggish consumer spending weighed on US economic growth, ahead of the Federal Reserve's monetary policy meeting this week which will include an update on the economy. More >>
World Week Ahead: Fed meeting, US jobs
Monday, 1 May 2017, 11:26 am | BusinessDesk
May 1 (BusinessDesk) - The US Federal Reserve meeting ending Wednesday, as well as the latest monthly US jobs data, followed by a speech from Fed chair Janet Yellen may help propel the bull market to fresh highs. More >>
MARKET CLOSE: NZ stocks rise, led by MetroGlass
Friday, 28 April 2017, 8:40 pm | BusinessDesk
April 28 (BusinessDesk) - New Zealand shares ended higher as positive economic data cheered investors and bargain hunters turned to stock like Metro Performance Glass although SkyCity Entertainment Group fell after posting weaker third-quarter sales ... More >>
China names four corruption suspects in Auckland
Friday, 28 April 2017, 8:34 pm | BusinessDesk
April 28 (BusinessDesk) - Four of 22 corruption suspects who have fled China are in Auckland according to a list published by Chinese authorities and while New Zealand is not currently proceeding with new extradition treaties it could look at a possible ... More >>
NZ dollar remains below 69 US cents on weaker commodities
Friday, 28 April 2017, 8:16 pm | BusinessDesk
April 28 (BusinessDesk) - The New Zealand dollar was little changed below 69 US cents, having fallen along with other commodity-linked currencies as raw material prices fell and the market focussed on US President Donald Trump's protectionist approach ... More >>
Kaikoura quake to shave 0.1% from NZ's GDP over two years
Friday, 28 April 2017, 7:47 pm | BusinessDesk
Kaikoura quake to shave 0.1% from NZ's GDP over two years, report shows More >>
ACCC takes legal action against Murray Goulburn
Friday, 28 April 2017, 7:46 pm | BusinessDesk
April 28 (BusinessDesk) - The Australian Competition and Consumer Commission has filed Federal Court proceedings against Australia's largest milk processor, Murray Goulburn Cooperative, for breaching the Australian consumer law but decided not to ... More >>
NZ business confidence still upbeat
Friday, 28 April 2017, 4:22 pm | BusinessDesk
April 28 (BusinessDesk) - New Zealand business confidence stayed upbeat in April as firms expect to see more activity on their own books and generate bigger profits. More >>
LanzaTech narrows annual loss in 2016
Friday, 28 April 2017, 4:01 pm | BusinessDesk
April 28 (BusinessDesk) - LanzaTech New Zealand, the New Zealand-founded carbon recycling company, reported a slightly narrower annual loss and while the directors signalled a number of risks they concluded it has sufficient funds to continue operating for ... More >>
NZ residential building consents dip in March
Friday, 28 April 2017, 2:51 pm | BusinessDesk
April 28 (BusinessDesk) - New Zealand residential building consents dipped in March after a strong rise in February. More >>
NZ exports rise 11% to 2-year high in March
Friday, 28 April 2017, 2:49 pm | BusinessDesk
April 28 (BusinessDesk) - New Zealand's merchandise exports rose to their highest monthly level in two years in March as the value of dairy exports to China jumped by two thirds. More >>
NZ wool auction volumes remain high
Friday, 28 April 2017, 1:37 pm | BusinessDesk
April 28 (BusinessDesk) - Volumes at New Zealand's weekly wool auction were higher than normal for this time of year as farmers try to shift bales they held back from previous auctions due to weak prices. More >>
Another day to wait on Fairfax NZ, NZME merger deal
Friday, 28 April 2017, 12:48 pm | BusinessDesk
April 28 (BusinessDesk) - Fairfax New Zealand and NZME will have to wait one more day before finding out whether their arguments have swayed the Commerce Commission from its draft decision to reject a merger between the country's two dominant newspaper ... More >>
