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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 449]
NZX trading volumes and value slump on year in February
Monday, 6 March 2017, 12:32 pm | BusinessDesk
March 6 (BusinessDesk) - Both cash trading volumes and the value of trading fell on year on the NZX in February, when the bulk of the country's biggest listed companies announced earnings. More >>
NZ dollar sinks to lowest level this year on TWI basis
Monday, 6 March 2017, 12:15 pm | BusinessDesk
March 6 (BusinessDesk) - The New Zealand dollar fell to its lowest level this year on a trade-weighted basis after Federal Reserve chair Janet Yellen affirmed market expectations of a rate hike this month and the prospect of further increases this ... More >>
Hutsons, Reeves bid to seize control of Abano fails
Monday, 6 March 2017, 12:14 pm | BusinessDesk
March 6 (BusinessDesk) - Peter and Anya Hutson and James Reeves latest attempt to wrest control of Abano Healthcare has failed, with the partial takeover falling well short of the 50.01 percent level needed. More >>
World Week Ahead: US jobs, ECB meeting
Monday, 6 March 2017, 11:31 am | BusinessDesk
March 6 (BusinessDesk) - After Federal Reserve chair Janet Yellen said the central bank will “likely” raise interest rates at a meeting this month, the focus will shift to what many see as the final hurdle to an increase: February’s jobs data. More >>
MARKET CLOSE: NZ shares down, Sky TV continues to weaken
Friday, 3 March 2017, 9:47 pm | BusinessDesk
March 3 (BusinessDesk) - New Zealand shares dipped, with Sky Network Television weaker after its merger with Vodafone NZ was denied, while A2 Milk Co and Synlait Milk gained on a closer supply deal. More >>
NZ dollar sheds 2.1% vs greenback over week
Friday, 3 March 2017, 9:46 pm | BusinessDesk
NZ dollar sheds 2.1% vs greenback over week as market looks to Fed rate hike More >>
ComCom rejects insurer Aon's bid
Friday, 3 March 2017, 9:45 pm | BusinessDesk
March 3 (BusinessDesk) - The Commerce Commission has rejected an application by insurer Aon New Zealand to buy the fire sprinkler and alarm inspection business of Fire Protection Inspection Services, saying it would have given the merged entity a dominant grip ... More >>
Warminger's market manipulation an expensive conduct lesson
Friday, 3 March 2017, 9:44 pm | BusinessDesk
March 3 (BusinessDesk) - Mark Warminger's trial for stock market manipulation will be closely scrutinised by securities law practitioners and has been a good test of the law, says one expert, describing it as "a very expensive way to teach ethics ... More >>
Warminger 'disappointed' by finding
Friday, 3 March 2017, 9:43 pm | BusinessDesk
(updates to add comment from Warminger's lawyer, Milford Asset Management in lede paragraph, paragraphs 4-8) More >>
Milford's Warminger manipulated NZ stock market twice
Friday, 3 March 2017, 9:41 pm | BusinessDesk
March 3 (BusinessDesk) - Former Milford Asset Management portfolio manager Mark Warminger manipulated the New Zealand stock market in two trades in 2014, but there wasn't enough evidence for the remaining eight instances argued by the Financial Markets ... More >>
NZ wool market improves at weekly auction
Friday, 3 March 2017, 5:21 pm | BusinessDesk
March 3 (BusinessDesk) - New Zealand's wool market picked up at the latest weekly auction, achieving the highest clearance rate this year, on increased volumes. More >>
NZ commodity prices rise in February
Friday, 3 March 2017, 5:20 pm | BusinessDesk
NZ commodity prices rise in February, meat, dairy and steel gain while wool continues to drop More >>
Milk powder prices may drop 7% at next week's GDT auction
Friday, 3 March 2017, 5:14 pm | BusinessDesk
March 3 (BusinessDesk) - The price of milk powder, New Zealand's key commodity export, is expected to fall on the GlobalDairyTrade platform next week after improved weather conditions prompted Fonterra Cooperative Group to increase the amount of product ... More >>
Tax reforms a powerful, may make business in NZ tougher
Friday, 3 March 2017, 5:13 pm | BusinessDesk
Tax reforms a powerful package but may make it tougher to do business in NZ More >>
Suncorp: proposed takeover won't change competitive dynamic
Friday, 3 March 2017, 4:43 pm | BusinessDesk
March 3 (BusinessDesk) - ASX-listed insurer Suncorp Group said its proposed takeover of NZX-listed general insurer Tower would be "unlikely to materially change the competitive dynamic" in New Zealand. More >>
NZ residential building slows in 4Q
Friday, 3 March 2017, 3:37 pm | BusinessDesk
March 3 (BusinessDesk) - The value of New Zealand residential building work rose by a slower pace in the December quarter, hampered by capacity constraints with skilled construction workers in high demand More >>
Restaurant Brands gets Yum sign-off for Hawaiian deal
Friday, 3 March 2017, 3:08 pm | BusinessDesk
March 3 (BusinessDesk) - Restaurant Brands New Zealand says it has gained approval from Yum! Brands, the parent company of Pizza Hut and Taco Bell, to acquire the only franchisee for those stores in Hawaii but the time taken for sign-off means full-year ... More >>
Auckland house prices reach fresh high in February
Friday, 3 March 2017, 1:56 pm | BusinessDesk
March 3 (BusinessDesk) - Auckland house prices reached a record high in February, despite sales numbers dropping to their lowest in six years, the city's largest realtor says. More >>
Crack-down on multinationals flouting local tax system
Friday, 3 March 2017, 1:50 pm | BusinessDesk
March 3 (BusinessDesk) - The government is taking steps to crack down on multinationals that manipulate New Zealand's tax system to their benefit. More >>
NPT shareholder meeting delayed for negotiations
Friday, 3 March 2017, 1:21 pm | BusinessDesk
March 3 (BusinessDesk) - Negotiations between Kiwi Property Group and NPT over a property deal are progressing constructively but taking longer than expected, with a shareholder meeting now planned for April, NPT says. More >>
