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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 448]
Rapid Loans to repay $1.4m in unreasonable fees
Tuesday, 7 March 2017, 2:56 pm | BusinessDesk
March 7 (BusinessDesk) - Internet-based lender Rapid Loans NZ will refund $1.4 million in unreasonable fees it charged borrowers, in a settlement with the Commerce Commission. More >>
NZ wholesale trade rises 0.7% in 4Q, led by fruit, vehicles
Tuesday, 7 March 2017, 2:54 pm | BusinessDesk
March 7 (BusinessDesk) - New Zealand wholesale trade rose in the fourth quarter, led by strong fruit exports. More >>
7-month surplus bigger than expected on corporate tax take
Tuesday, 7 March 2017, 1:54 pm | BusinessDesk
March 7 (BusinessDesk) - The government's seven-month operating surplus was more than twice the expected size as the government pulled in a bigger tax take from companies while uncertainties over the cost of the Kaikoura earthquake kept expenses below ... More >>
TruScreen inks deal to access Indian market
Tuesday, 7 March 2017, 1:13 pm | BusinessDesk
March 7 (BusinessDesk) - NZAX-listed TruScreen said it has entered into commercial agreements with Mumbai-based Khandelwal Laboratories Pvt to gain access to the Indian market for its cervical screening product. More >>
Tegels, Inghams warned over misleading chicken sizes
Tuesday, 7 March 2017, 1:05 pm | BusinessDesk
March 7 (BusinessDesk) - The Commerce Commission has warned chicken producers Inghams Enterprises and Tegel Foods for packaging chickens with misleading sizes. More >>
Environment Minister Smith wins Maori Party to RMA reform
Tuesday, 7 March 2017, 12:19 pm | BusinessDesk
March 7 (BusinessDesk) - Environment Minister Nick Smith has won Maori Party support for an overhaul of the Resource Management Act with what he calls a "better framework" for iwi participation. More >>
NZ dollar falls below 70 US cents on Fed rate-hike plans
Tuesday, 7 March 2017, 11:43 am | BusinessDesk
March 7 (BusinessDesk) - The New Zealand dollar fell below 70 US cents, reaching an eight-week low on expectations of Federal Reserve rate hikes starting this month and ahead of a dairy auction that the futures market is predicting will see prices ... More >>
While you were sleeping: Wall St slides
Tuesday, 7 March 2017, 11:24 am | BusinessDesk
March 7 (BusinessDesk) - Equities on both sides of the Atlantic moved lower as investors reassessed valuations amid the prospect that the US Federal Reserve will increase interest rates at next week’s meeting. More >>
FIRST CUT: Pension age to rise to 67, starting in 20 years
Tuesday, 7 March 2017, 8:43 am | BusinessDesk
March 6 (BusinessDesk) - The age of entitlement for New Zealand Superannuation - the universal national pension - will rise from 65 at present to 67 - but there will be no change for the next 20 years. More >>
Student debt generation to face higher pension age
Tuesday, 7 March 2017, 8:41 am | BusinessDesk
March 6 (BusinessDesk) - Opposition and government support partners have rounded on the National Party's policy to raise the retirement age to 67, saying that delaying the move for 20 years adds a further burden to the generation that had to borrow ... More >>
NZ dollar falls as North Korean missile tests rattle markets
Tuesday, 7 March 2017, 8:39 am | BusinessDesk
March 6 (BusinessDesk) - The New Zealand dollar fell after reports that North Korea fired four ballistic missiles into the sea off Japan's north-west coast early on Monday, extending the kiwi's decline that's been driven by expectations of US rate ... More >>
Veritas reaches settlement with former Nosh franchisee
Tuesday, 7 March 2017, 8:37 am | BusinessDesk
March 6 (BusinessDesk) - Veritas Investments said it has reached a confidential settlement with Phil Mead, a former franchisee in the Nosh group who sought to terminate his franchise agreement after buying the business just days before Veritas disclosed ... More >>
MARKET CLOSE: NZ shares gain, led by A2 Milk
Tuesday, 7 March 2017, 8:35 am | BusinessDesk
March 6 (BusinessDesk) - New Zealand shares rose, with A2 Milk Co and Sky Network Television recovering from sell-offs, while Ryman Healthcare and Chorus declined. More >>
TruScreen shares jump as it announces new distribution deals
Monday, 6 March 2017, 4:16 pm | BusinessDesk
March 6 (BusinessDesk) - NZAX-listed TruScreen shares jumped 14 percent after the cervical cancer test developer announced distribution agreements for the sale of its screening device in multiple new markets. More >>
Michael Hill promotes Phil Taylor to top job
Monday, 6 March 2017, 4:01 pm | BusinessDesk
March 6 (BusinessDesk) - Michael Hill International, the jewellery chain business founded by its namesake, has promoted finance boss Phil Taylor to take over as chief executive More >>
Big electricity users losing patience
Monday, 6 March 2017, 2:53 pm | BusinessDesk
March 6 (BusinessDesk) - Large electricity users with national operations are losing patience with local electricity line network owners' slow progress towards having common terms and conditions of service, including agreement on when it's day or night. More >>
NZ residential building consents edge up 0.8%
Monday, 6 March 2017, 2:36 pm | BusinessDesk
March 6 (BusinessDesk) - New Zealand residential building permits rose in January as a pickup in consents for new apartments and townhouses made up for a decline in applications to build houses. More >>
Meridian seeks up to $150 million in retail bond offer
Monday, 6 March 2017, 2:33 pm | BusinessDesk
March 6 (BusinessDesk) - Meridian Energy wants to raise $150 million through a new listed bond to refinance an upcoming debt maturity and cover general business costs. More >>
National guest nights continue to push higher in December
Monday, 6 March 2017, 2:31 pm | BusinessDesk
March 6 (BusinessDesk) - National guest nights continued to push higher in December, driven by an ongoing increase in international guest nights, Statistics New Zealand's December accommodation survey results showed. More >>
Lamb flap prices hit record high as slaughter rates decline
Monday, 6 March 2017, 2:20 pm | BusinessDesk
March 6 (BusinessDesk) - A shortage of lamb meat in New Zealand, the world's largest exporter, is pushing up prices, with lamb flaps hitting a record high and prices for many other cuts lifting in export markets. More >>
