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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 446]
NZ dollar sinks to 69 US cents
Friday, 10 March 2017, 9:58 am | BusinessDesk
NZ dollar sinks to 69 US cents in face of 'perfect storm' of Fed about to hike, weaker NZ outlook More >>
Supreme Court lets Affco appeal ruling on unlawful lockouts
Friday, 10 March 2017, 9:55 am | BusinessDesk
March 9 (BusinessDesk) - The Supreme Court has given Affco New Zealand leave to appeal a ruling that it unlawfully locked out meat workers when collective bargaining was taking place. More >>
Wynyard managers squeezes just $2.8 mln
Friday, 10 March 2017, 9:53 am | BusinessDesk
March 9 (BusinessDesk) - The voluntary administrators for Wynyard Group raised just $2.8 million from selling the failed crime investigation software developer's assets in the lead-up to its liquidation last month. More >>
Warehouse prepares for Amazon juggernaut
Thursday, 9 March 2017, 3:57 pm | BusinessDesk
March 9 (BusinessDesk) - Warehouse Group says it is a question of when not if Amazon arrives in New Zealand and estimates the online shopping giant will strip $4 billion to $5 billion out of Australia's retail market while becoming a more convenient option ... More >>
Fairfax NZ boss quits days ahead of NZME merger ruling
Thursday, 9 March 2017, 2:30 pm | BusinessDesk
March 9 (BusinessDesk) - Fairfax New Zealand managing director Simon Tong has resigned just days before a Commerce Commission ruling on the proposed merger with NZME, a step the media companies say they need to survive a changing industry. More >>
Restaurant Brands lifts 4Q revenue
Thursday, 9 March 2017, 1:40 pm | BusinessDesk
March 9 (BusinessDesk) - Restaurant Brands New Zealand, the fast-food retailer, lifted fourth quarter sales 37 percent to $121.6 million, bolstered by gains from its Australian KFC stores. More >>
Latest school PPP contract will include a repeat clause
Thursday, 9 March 2017, 1:39 pm | BusinessDesk
March 8 (BusinessDesk) - The government's latest public-private partnership contract to build six schools will include a clause putting the winning consortium at the front of a queue to repeat the package when the next bundle of buildings comes to ... More >>
NZX director Alison Gerry steps down
Thursday, 9 March 2017, 12:56 pm | BusinessDesk
March 9 (BusinessDesk) - NZX has appointed Richard Bodman as a director, replacing Alison Gerry who has resigned after five years on the board. More >>
FMA files charges against ERoad staffers
Thursday, 9 March 2017, 12:54 pm | BusinessDesk
March 9 (BusinessDesk) - The Financial Markets Authority has charged two ERoad staffers with insider trading in late 2015, but stressed the logistics and fleet management software and hardware developer is in the clear. More >>
Warehouse first-half profit drops 76%
Thursday, 9 March 2017, 12:47 pm | BusinessDesk
March 9 (BusinessDesk) - Warehouse Group reported a 76 percent drop in first-half profit after the retailer took an impairment charge against its financial services unit, recognised restructuring costs and earned less from its Red Shed department ... More >>
Spark confirms $22.7 million TeamTalk takeover offer
Thursday, 9 March 2017, 12:46 pm | BusinessDesk
March 9 (BusinessDesk) - Spark New Zealand has confirmed its $22.7 million takeover offer for network minnow TeamTalk, a deal which would give the country's biggest telecommunications group ownership of fibre in Wellington and a wireless rural internet ... More >>
Bethunes finds backdoor listing candidate in NZ Retail Group
Thursday, 9 March 2017, 12:10 pm | BusinessDesk
March 9 (BusinessDesk) - Bethunes Investments Ltd, the shell that used to be auction house Mowbray Collectibles, has signed a deal with Westgate-subsidiary NZ Retail Property Group for a backdoor listing of its property portfolio and development pipeline. More >>
Losses at smaller NZ firms from cyber-attacks average $19k
Thursday, 9 March 2017, 12:01 pm | BusinessDesk
March 9 (BusinessDesk) - Financial losses as a result of cyber-attacks averaged $19,000 for smaller New Zealand businesses, according to a survey by security software firm Symantec, almost three times the losses for Australian firms. More >>
NZ dollar falls to new 2-mth low
Thursday, 9 March 2017, 11:40 am | BusinessDesk
March 9 (BusinessDesk) - The New Zealand dollar dropped to a new two-month low after a stronger than expected US jobs report stoked expectations for the Federal Reserve to raise interest rates as early as this month. More >>
Treasury stretched in keeping tabs on major projects
Thursday, 9 March 2017, 8:59 am | BusinessDesk
March 8 (BusinessDesk) - The Treasury's ability to closely monitor the largest and most complex government projects is stretched as demand for greater oversight from public sector agencies expands. More >>
NZ earnings season underwhelms investors
Thursday, 9 March 2017, 8:57 am | BusinessDesk
March 8 (BusinessDesk) - New Zealand's listed companies delivered "solid but not spectacular" results in the February earnings season, providing little reason to drive up stock prices in a market where rising interest rates have eroded the ... More >>
NZ dollar drifts lower on sour milk auction, Fed views
Thursday, 9 March 2017, 8:52 am | BusinessDesk
March 8 (BusinessDesk) - The New Zealand dollar drifted lower on a trade-weighed index basis after a tumble in global dairy prices weighed on sentiment. More >>
MARKET CLOSE: NZ shares rise; Chorus, Comvita gain
Thursday, 9 March 2017, 8:51 am | BusinessDesk
March 8 (BusinessDesk) - New Zealand shares rose in a trading day that started late because of a technical glitch at the exchange. Chorus, Comvita and Contact Energy gained while Property for Industry dropped. More >>
While you were sleeping: US jobs boost rate bets
Thursday, 9 March 2017, 8:49 am | BusinessDesk
March 9 (BusinessDesk) - The US dollar strengthened as better-than-expected jobs data cemented bets Federal Reserve policy makers will lift interest rates next week. More >>
Ivan Erceg's conduct raised 'genuine concern'
Wednesday, 8 March 2017, 3:44 pm | BusinessDesk
March 8 (BusinessDesk) - Former superyacht builder Ivan Erceg's bid to find out how the fortune of his older brother, the late Independent Liquor baron Michael Erceg, was divvied up has been rejected by the Supreme Court, which had "genuine concerns" ... More >>
