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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 440]
NZSA slams Heartland Bank's capital raising as unfair
Thursday, 23 March 2017, 6:31 am | BusinessDesk
March 22 (BusinessDesk) - The New Zealand Shareholders Association has criticised Heartland Bank over a $40 million of capital completed this month after its discounted share purchase plan closed more than three times oversubscribed. More >>
FMA halts Forestlands plan to distribute $18M after sales
Thursday, 23 March 2017, 6:27 am | BusinessDesk
March 22 (BusinessDesk) - The Financial Markets Authority is talking to Forestlands over $18 million the forest owner planned to distribute to investors after selling its assets. More >>
NZ dollar extends gain against Aussie
Thursday, 23 March 2017, 6:25 am | BusinessDesk
March 22 (BusinessDesk) - The New Zealand dollar gained against the Australian dollar as the interest rate differential between the countries looks set to persist and as investors were unnerved by the US White House's inability to deliver on its plans. More >>
Affco seeks judicial review of meatworkers ruling
Thursday, 23 March 2017, 6:23 am | BusinessDesk
March 22 (BusinessDesk) - Affco New Zealand is making another attempt to throw out a ruling that it unlawfully locked out meat workers when collective bargaining was taking place, this time asking the Court of Appeal for a judicial review of the Employment ... More >>
MARKET CLOSE: NZ shares fall
Thursday, 23 March 2017, 6:13 am | BusinessDesk
March 22 (BusinessDesk) - New Zealand shares fell, with Fonterra Shareholders' Fund and Fletcher Building dropping while Sky Network Television rose after the pay-TV company said it will challenge the regulator's decision to decline its Vodafone merger. More >>
Fonterra: ingredients offset gains from higher value product
Wednesday, 22 March 2017, 5:08 pm | BusinessDesk
March 22 (BusinessDesk) - Fonterra Cooperative Group lifted first-half earnings from its consumer and food service businesses by shifting volumes into higher-value products but the gains were more than offset by a decline in earnings from its ingredients ... More >>
NZ Refining gross margins edge up in start to 2017
Wednesday, 22 March 2017, 5:06 pm | BusinessDesk
March 22 (BusinessDesk) - New Zealand Refining's gross margins edge higher in the first two months of the year with strong throughput at the Marsden Point refinery. More >>
Serko gets $2 million extension to Callaghan grant
Wednesday, 22 March 2017, 5:03 pm | BusinessDesk
March 22 (BusinessDesk) - Serko, the online travel booking firm looking to turn a profit next year, has been given an extension to its Callaghan Innovation grant to spend on research and development. More >>
Upside Biotechnologies raises $2.3 mln in funding round
Wednesday, 22 March 2017, 5:00 pm | BusinessDesk
March 22 (BusinessDesk) - Upside Biotechnologies, a regenerative medicine start-up, said it has successfully raised $2.3 million in its Series A funding round. More >>
NZ's labour productivity dips on strong jobs market
Wednesday, 22 March 2017, 3:39 pm | BusinessDesk
March 22 (BusinessDesk) - New Zealand's labour productivity fell 0.7 percent in the year to March 2016 bolstered by the strong labour market as waves of migrants look for work. More >>
NZ Binxi backs out of $25.4 million Blue Sky takeover
Wednesday, 22 March 2017, 3:18 pm | BusinessDesk
March 22 (BusinessDesk) - NZ Binxi (Oamaru) Foods, a subsidiary of China-based Heilongjiang Binxi Cattle Industry Co, has backed out of its $25.4 million takeover of Invercargill meat processor Blue Sky Meats after missing the deadline to get regulatory sign-off ... More >>
Minister Collins sees exploration activity returning
Wednesday, 22 March 2017, 2:39 pm | BusinessDesk
March 22 (BusinessDesk) - Energy Minister Judith Collins expects oil and gas exploration activity will return as margins start to improve. More >>
Sky TV, Vodafone appeal blocked merger
Wednesday, 22 March 2017, 2:23 pm | BusinessDesk
March 22 (BusinessDesk) - Sky Network Television and Vodafone New Zealand will today lodge appeals against the Commerce Commission's decision blocking their merger. More >>
TruScreen raises $4.09M from institutions to fund growth
Wednesday, 22 March 2017, 12:56 pm | BusinessDesk
March 22 (BusinessDesk) - TruScreen, the NZAX-listed cervical cancer test developer, raised $4.09 million in a share sale to institutional and other select investors to strengthen its balance sheet and fund future growth. More >>
NZ shares rise as Fletcher lifts from slump
Wednesday, 22 March 2017, 8:07 am | BusinessDesk
March 21 (BusinessDesk) - New Zealand shares rose as Fletcher Building made up some ground after yesterday's downgrade-induced slump, while A2 Milk and Goodman Property Trust gained. Fonterra Shareholders' Fund fell ahead of its first-half results tomorrow. More >>
Huawei to invest $400 mln in New Zealand to drive R&D
Wednesday, 22 March 2017, 8:06 am | BusinessDesk
March 21 (BusinessDesk) - Chinese telecommunications group Huawei Technologies will spend $400 million over the next five years to help drive local research and development and support the construction of a cloud data centre. More >>
Downer mounts A$1.2 billion takeover for Spotless Group
Wednesday, 22 March 2017, 7:45 am | BusinessDesk
March 21 (BusinessDesk) - Downer EDI has launched a A$1.26 billion takeover bid for ASX-listed outsourced laundry and cleaning services firm Spotless Group as the Australian-based infrastructure and mining firm looks to expand its operations as a vertically integrated ... More >>
Second Fairfax NZ senior manager jumps ship
Wednesday, 22 March 2017, 5:41 am | BusinessDesk
March 21 (BusinessDesk) - Fairfax Media New Zealand has lost a second senior manager, with the company's chief marketing officer leaving the company for a job with insurer Suncorp shortly before chief executive Simon Tong announced his resignation on March ... More >>
Pacific Edge gets two-year extension to Callaghan grant
Wednesday, 22 March 2017, 5:39 am | BusinessDesk
March 21 (BusinessDesk) - Pacific Edge has won a two-year extension to its Callaghan Innovation research grant to fund the development of its Cxbladder diagnostic suite of products for bladder cancer detection. More >>
NZ dollar gains vs Aussie as RBA wary on housing
Wednesday, 22 March 2017, 5:37 am | BusinessDesk
March 21 (BusinessDesk) - The New Zealand dollar gained against the Australian dollar after Australia's central bank warned of growing risks in the housing market in its latest minutes. More >>
