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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 432]
Augusta pays 17% premium to double NPT stake
Friday, 7 April 2017, 1:58 pm | BusinessDesk
April 7 (BusinessDesk) - Augusta Capital has paid a 17 percent premium to double its stake in real estate investor NPT, putting more clout behind its bid to replace the board and block a deal giving management control to Kiwi Property Group. More >>
Infratil sells 19% Metlifecare stake for $237.9 million
Friday, 7 April 2017, 11:50 am | BusinessDesk
April 7 (BusinessDesk) - Infratil has sold its cornerstone stake in Metlifecare for $237.9 million, generating an annual return of 15.5 percent over the three-and-a-half years it held shares of the retirement village operator and developer. More >>
NZ dollar gains vs euro after ECB sticks with policy
Friday, 7 April 2017, 11:45 am | BusinessDesk
April 7 (BusinessDesk) - The New Zealand dollar rose against the euro after European Central Bank president Mario Draghi said there was no reason to change the bank's policy of ultra-low interest rates and bond buying, and was little changed against ... More >>
Tax incentives for R&D could be an election issue
Friday, 7 April 2017, 9:33 am | BusinessDesk
April 6 (BusinessDesk) - Tax incentives have a "positive and significant" impact on research and development spending, according to an International Monetary Fund working paper published this week, but remain contentious in New Zealand with ... More >>
While you were sleeping: Wall St, dollar gain
Friday, 7 April 2017, 9:27 am | BusinessDesk
April 7 (BusinessDesk) - Wall Street moved higher, as did the US dollar and oil, as investors eyed the start of a meeting between the leaders of the world’s two largest economies. More >>
NZ dollar steady vs greenback
Friday, 7 April 2017, 8:52 am | BusinessDesk
April 6 (BusinessDesk) - The New Zealand dollar was little changed against the greenback and fell against the yen as investors' risk appetite dwindled ahead of the summit between US president Donald Trump and his Chinese counterpart Xi Jinping. More >>
NPT bristles at opposition to Kiwi Property deal
Friday, 7 April 2017, 8:51 am | BusinessDesk
April 6 (BusinessDesk) - NPT has gone on the offensive in trying to undermine opposition to a proposed deal with Kiwi Property Group by its biggest shareholder, Salt Funds Management. More >>
MARKET CLOSE: NZ shares hit six-month high
Friday, 7 April 2017, 8:49 am | BusinessDesk
April 6 (BusinessDesk) - New Zealand shares rose to their highest level since early October, as A2 Milk's bull run continued and the market shrugged off Asian jitters ahead of a potentially tense meeting between US President Donald Trump and his Chinese ... More >>
Adamantem buys into Heritage Lifecare
Friday, 7 April 2017, 8:47 am | BusinessDesk
April 6 (BusinessDesk) - Australian private equity firm Adamantem Capital has bought into Heritage Lifecare in a deal valuing the New Zealand retirement village and aged-care operator at $115 million. More >>
Scott Technologies in a 'sweet spot' says CEO Hopkins
Thursday, 6 April 2017, 3:58 pm | BusinessDesk
April 6 (BusinessDesk) - Scott Technologies posted a 48 percent jump in first-half profit and chief executive Chris Hopkins says a global drive for increased automation means the industrial robotics firm is in a "sweet spot". More >>
Bathurst Resources finds replacement for Westport contract
Thursday, 6 April 2017, 3:53 pm | BusinessDesk
April 6 (BusinessDesk) - Bathurst Resources has found a new buyer for coal from its Canterbury mine, replacing the lost supply deal for Westport's cement works when Holcim closed the plant last year. More >>
Shell sells Kapuni field to Todd
Thursday, 6 April 2017, 2:31 pm | BusinessDesk
April 6 (BusinessDesk) - Shell New Zealand has taken the first concrete steps in its effort to divest its New Zealand upstream assets, selling the 60-year-old Kapuni onshore oil and gas field to its joint venture partner in the field, locally owned ... More >>
Peter Thiel interests sell 1.12M Xero shares
Thursday, 6 April 2017, 2:06 pm | BusinessDesk
April 6 (BusinessDesk) - Interests associated with tech billionaire Peter Thiel have sold about 1.1 million shares in Xero, reducing its overall holding to below 5 percent. More >>
NZ company profits continue to bolster tax take
Thursday, 6 April 2017, 1:57 pm | BusinessDesk
April 6 (BusinessDesk) - New Zealand firms' stronger profits in 2016 continued to swell the government's coffers in February, helping boost the government's operating surplus beyond forecasts for the first eight months of the financial year. More >>
Z drops plan for virtual annual meetings
Thursday, 6 April 2017, 12:39 pm | BusinessDesk
April 6 (BusinessDesk) - Z Energy has reversed its decision to dump physical annual meetings in favour of cheaper virtual ones and will instead hold a hybrid of the two after lobbying from the New Zealand Shareholders' Association. More >>
Intueri hires Grant Thornton to liquidate Australian assets
Thursday, 6 April 2017, 11:59 am | BusinessDesk
April 6 (BusinessDesk) - Intueri Education Group has hired Grant Thornton to liquidate its Australian assets after it was forced to close its colleges across the Tasman sooner than it had expected. More >>
NZ dollar little changed after sinking to 3-week low
Thursday, 6 April 2017, 11:23 am | BusinessDesk
April 6 (BusinessDesk) - The New Zealand dollar was little changed, having fallen to a new three-week low overnight, only to bounce back when minutes of the last Federal Reserve policy meeting showed the bank wants to reduce its balance sheet, which may ... More >>
While you were sleeping: US jobs exceed estimates
Thursday, 6 April 2017, 9:33 am | BusinessDesk
April 6 (BusinessDesk) - Wall Street climbed, pushing the Nasdaq to a record high, as better-than-expected US jobs data bolstered optimism about the outlook for the US economy and corporate profits. More >>
Feltex shareholder cites Court of Appeal finding
Thursday, 6 April 2017, 8:42 am | BusinessDesk
April 5 (BusinessDesk) - Former Feltex Carpets shareholder Eric Houghton's lawyer has argued in the Supreme Court that the failed company's 2004 prospectus wasn't valid because it contained untrue statements about its sales prospects. More >>
Allied Farmers emerges as beneficiary of litigation
Thursday, 6 April 2017, 8:41 am | BusinessDesk
April 5 (BusinessDesk) - Allied Farmers says it could be in the money if litigation against former bankrupt Dave Henderson's Property Ventures group is successful. More >>
