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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 443]
BP plans to halve NZ Refining stake, selling $86 mln shares
Friday, 17 March 2017, 12:31 pm | BusinessDesk
March 17 (BusinessDesk) - BP New Zealand Holdings is selling down part of its holding in the nation's only oil refinery operator, NZ Refining, potentially reaping as much as $86 million. More >>
While you were sleeping: Wall St declines
Friday, 17 March 2017, 10:07 am | BusinessDesk
March 17 (BusinessDesk) - Wall Street and US Treasuries slipped as investors locked in profits following Wednesday’s rally. More >>
MARKET CLOSE: NZ shares mixed after Fed result
Friday, 17 March 2017, 8:15 am | BusinessDesk
March 16 (BusinessDesk) - New Zealand shares were mixed after the US Federal Reserve followed expectations, with Vista Group Entertainment and Auckland International Airport gaining while Sky Network Television and Ebos Group dropped. More >>
PwC liable for up to $1 billion in liquidator's lawsuit
Friday, 17 March 2017, 8:13 am | BusinessDesk
March 16 (BusinessDesk) - PricewaterhouseCoopers says it's under the gun for up to $1 billion after two failed attempts to stop a lawsuit brought against it by the liquidator of a collapsed property development company. More >>
Fonterra given discretion over accepting new conversions
Friday, 17 March 2017, 8:11 am | BusinessDesk
March 16 (BusinessDesk) - Fonterra Cooperative Group will get to choose whether to accept supply from new dairy conversions from the 2018/19 season in new legislation governing the country's biggest company. More >>
NZ dollar pares Fed gains after local GDP softer-than-expect
Friday, 17 March 2017, 8:08 am | BusinessDesk
March 16 (BusinessDesk) - The New Zealand dollar pared some of its gains after the US Federal Reserve lifted rates but kept the track for further hikes unchanged after the domestic growth picture was softer than expected. More >>
CropLogic hires Novus Capital for A$3M IPO prior to ASX list
Friday, 17 March 2017, 8:05 am | BusinessDesk
March 16 (BusinessDesk) - CropLogic, a Christchurch-based developer of technology that allows farmers to more accurately control inputs such as fertiliser and water, plans to raise A$3 million in an initial public offering and list on the ASX. More >>
NZ petrol companies wary of customs law overhaul
Friday, 17 March 2017, 8:03 am | BusinessDesk
March 16 (BusinessDesk) - New Zealand's petrol companies are welcoming a change to 20-year-old customs and excise law but want to make sure they don't get blindsided by the way officials judge whether a blended fuel will attract more duty. More >>
General Finance chases Terry Serepisos's mum for $275k
Thursday, 16 March 2017, 4:33 pm | BusinessDesk
March 16 (BusinessDesk) - General Finance has sought summary judgment against the mother of discharged bankrupt Terry Serepisos over some $275,000 owed on a defaulted mortgage but her lawyer argued the mortgage lender 'sabotaged' the sale of the apartment ... More >>
UPDATE: Tepid fourth-quarter growth
Thursday, 16 March 2017, 4:02 pm | BusinessDesk
March 16 (BusinessDesk) - New Zealand’s economy expanded less than expected in the fourth quarter, firming up the view that the central bank is likely to keep interest rates on hold for some time to come. More >>
Windflow Technology posts wider 1H loss, needs more capital
Thursday, 16 March 2017, 3:43 pm | BusinessDesk
March 16 (BusinessDesk) - Windflow Technology, the unprofitable wind turbine manufacturer, widened its first-half loss and said it needs new injections of capital. More >>
NZ economy expands less than expected in fourth quarter
Thursday, 16 March 2017, 2:01 pm | BusinessDesk
March 16 (BusinessDesk) - New Zealand’s economy expanded less than expected in the fourth quarter, weighed by weaker activity in the primary sector. The kiwi dollar fell More >>
Genesis replaces Contact as FlyBuys' electricity provider
Thursday, 16 March 2017, 1:41 pm | BusinessDesk
March 16 (BusinessDesk) - Genesis Energy is replacing Contact Energy in the FlyBuys loyalty scheme, as the country's largest electricity retailer seeks to improve its attraction to existing and would-be customers. More >>
Goodman Property Trust sells Christchurch property for $14m
Thursday, 16 March 2017, 1:01 pm | BusinessDesk
March 16 (BusinessDesk) - Goodman Property Trust, the NZX-listed commercial and industrial property investor, sold commercial buildings and associated development land in Christchurch to a local investor for $14 million. More >>
NZ dollar surges about 1 US cent
Thursday, 16 March 2017, 11:44 am | BusinessDesk
March 16 (BusinessDesk) - The New Zealand dollar surged about 1 US cent after the US Federal Reserve raised interest rates as expected but kept its track for further hikes unchanged, reiterating that it sees "gradual increases". More >>
While you were sleeping: Fed hikes
Thursday, 16 March 2017, 10:27 am | BusinessDesk
March 16 (BusinessDesk) - Wall Street extended gains after the US Federal Reserve raise its key interest rate, as had been widely expected, and reiterated that further increases will follow a gradual path. More >>
ANZ, Westpac agree to A$3M payments over FX trading
Thursday, 16 March 2017, 8:33 am | BusinessDesk
March 15 (BusinessDesk) - Australia and New Zealand Banking Group and Westpac Banking Corp have entered into enforceable undertakings to change their practices after the Australian regulator found inappropriate conduct in their wholesale foreign exchange ... More >>
NZ dollar range bound; all eyes on Fed
Thursday, 16 March 2017, 8:09 am | BusinessDesk
March 15 (BusinessDesk) - The New Zealand dollar kept to a tight range as markets await a series of events, in particular the results of the Federal Reserve's meeting due early Thursday New Zealand time. More >>
MARKET CLOSE: NZ shares fall, led by Stride, Warehouse; Xero
Thursday, 16 March 2017, 8:07 am | BusinessDesk
March 15 (BusinessDesk) - New Zealand shares dropped, led by Stride Property and Warehouse Group, while Xero and Chorus rose. More >>
Government has room for 'pre-election sweetener' in health
Thursday, 16 March 2017, 8:06 am | BusinessDesk
March 15 (BusinessDesk) - The government's better-than-expected books give it scope for a "pre-election sweetener" to boost spending on healthcare, a sector seen as ripe for rapid jobs growth over the next four years, says economic consultancy Infometrics. More >>
