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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 441]
Constraints in construction sector driving price escalation
Wednesday, 22 March 2017, 5:35 am | BusinessDesk
March 21 (BusinessDesk) - Capacity constraints in Auckland's construction sector have been driving up building costs by more than four times the rate of inflation in recent years, eroding margins for companies locked into fixed-price contracts More >>
NZ needs more science, more trees, fewer beasts
Wednesday, 22 March 2017, 5:26 am | BusinessDesk
March 21 (BusinessDesk) - A combination of technology breakthroughs, much more plantation forestry, and a big switch away from pastoral, particularly dairy farming, are identified as the key elements of any approach New Zealand takes to reducing its carbon emissions ... More >>
Second Fairfax NZ senior manager jumps ship
Tuesday, 21 March 2017, 5:22 pm | BusinessDesk
March 21 (BusinessDesk) - Fairfax Media New Zealand's chief marketing officer is following chief executive Simon Tong out the door as the company awaits the Commerce Commission's decision on whether the news publisher and events company can merge ... More >>
Spark chases lower input costs in TeamTalk takeover bid
Tuesday, 21 March 2017, 4:45 pm | BusinessDesk
March 21 (BusinessDesk) - Spark New Zealand wants lower costs from owning fibre assets in the Auckland and Wellington central cities in its pursuit of telecommunications minnow TeamTalk. More >>
UPDATE: Kathmandu shares edge up
Tuesday, 21 March 2017, 3:20 pm | BusinessDesk
March 21 (BusinessDesk) - Kathmandu Holdings shares edged up after the outdoor equipment chain beat its first-half profit guidance by cutting costs while lifting sales at a time when fierce competition is eroding margins for retailers. More >>
Migrants and tourists still flocking to New Zealand
Tuesday, 21 March 2017, 2:34 pm | BusinessDesk
March 21 (BusinessDesk) - Migrants and tourists continued to flock to New Zealand in record numbers in the year to February, although the net inflow may be showing signs of leveling off. More >>
GlobalDairyTrade prices may drop for third straight auction
Tuesday, 21 March 2017, 1:20 pm | BusinessDesk
March 21 (BusinessDesk) - Prices on the GlobalDairyTrade platform may drop for a third straight auction tonight as supply outstrips demand. More >>
Kathmandu lifts first-half profit 6.4%
Tuesday, 21 March 2017, 1:00 pm | BusinessDesk
March 21 (BusinessDesk) - Kathmandu Holdings lifted first-half profit 6.4 percent, just beating earnings guidance the outdoor equipment chain gave last month after clamping down on costs and exerting greater control over inventory. More >>
NZ log prices hit new record highs on buoyant demand
Tuesday, 21 March 2017, 11:57 am | BusinessDesk
March 21 (BusinessDesk) - Buoyant New Zealand activity has pushed up local log prices to new record highs. More >>
NZ dollar gains vs pound after Brexit date set
Tuesday, 21 March 2017, 11:56 am | BusinessDesk
March 21 (BusinessDesk) - The New Zealand dollar rose against the British pound after UK Prime Minister Theresa May announced the date she will trigger Article 50 that puts in motion her nation's departure from the European Union. More >>
While you were sleeping: Nasdaq touches record
Tuesday, 21 March 2017, 11:35 am | BusinessDesk
March 21 (BusinessDesk) - Wall Street moved lower, after the Nasdaq touched a record high earlier in the day, as investors looked for fresh guidance on interest rate hikes from a slew of Federal Reserve policy makers speaking this week. More >>
MARKET CLOSE: NZ shares down, dragged by Fletcher
Tuesday, 21 March 2017, 8:33 am | BusinessDesk
March 20 (BusinessDesk) - New Zealand shares dropped, led lower by Fletcher Building's earnings downgrade, with Metlifecare and Metro Performance Glass also falling. More >>
Commercial risk not govt's concern in major projects
Tuesday, 21 March 2017, 8:31 am | BusinessDesk
March 20 (BusinessDesk) - Cost overruns that push major building projects into the red aren't the government's concern, and it's instead focused on ensuring those builds are delivered on time and to budget, says Prime Minister Bill English. More >>
NZ dollar gains as disappointment over Fed saps US dollar
Tuesday, 21 March 2017, 8:29 am | BusinessDesk
March 20 (BusinessDesk) - The New Zealand dollar was higher, continuing to benefit from US dollar weakness on disappointment the US Federal Reserve isn't planning to pick up the pace of its interest rate hikes this year. More >>
NZ Shareholders Assn seeks answers on Fletcher downgrade
Tuesday, 21 March 2017, 8:27 am | BusinessDesk
March 20 (BusinessDesk) - The New Zealand Shareholders Association says Fletcher Building's announcement of a $110 million downgrade to full-year earnings guidance leaves investors with a lack of detailed answers and raises questions about chief ... More >>
NZ central bank tipped to keep rates on hold
Tuesday, 21 March 2017, 8:26 am | BusinessDesk
March 20 (BusinessDesk) - The Reserve Bank of New Zealand is widely expected to keep interest rates on hold at a record low 1.75 percent on Thursday and to reiterate the risks are finely balanced. More >>
Construction contract woes wrong-foots investors
Tuesday, 21 March 2017, 8:24 am | BusinessDesk
March 20 (BusinessDesk) - Fletcher Building was quizzed by analysts and investors over why industry rumours were circulating about losses from a major construction contract before they were disclosed by the company today in a surprise move that ... More >>
UPDATE: Tenon shareholders back sale of Taupo mill
Monday, 20 March 2017, 4:29 pm | BusinessDesk
March 20 (BusinessDesk) - Tenon shareholders have overwhelmingly backed plans to sell the firm's Taupo wood processing mill to a consortium of US and New Zealand investors and wind up the business. More >>
Tenon shareholders to vote on selling Taupo mill, winding up
Monday, 20 March 2017, 2:44 pm | BusinessDesk
March 20 (BusinessDesk) - Tenon shareholders will today vote on whether to sell its Taupo wood processing mill to a consortium of US and New Zealand investors and wind up the business or hold on to the assets and continued as a NZX-listed company. More >>
NZ guest nights hit new record in January
Monday, 20 March 2017, 2:41 pm | BusinessDesk
March 20 (BusinessDesk) - New Zealand accommodation providers hosted a record number of guests in January, as a surge in international visitors during the summer months offset a decline in local stays, the latest data shows. More >>
