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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 457]
Tower chair cautions shareholders over Suncorp offer
Wednesday, 22 February 2017, 11:38 am | BusinessDesk
Feb. 22 (BusinessDesk) - Tower chairman Michael Stiassny is warning shareholders to tread carefully over the offer to buy their shares from ASX-listed insurer Suncorp Group, which owns rival Vero Insurance. More >>
Former MoT senior manager sentenced to jail for fraud
Wednesday, 22 February 2017, 9:28 am | BusinessDesk
Feb. 21 (BusinessDesk) - A former senior manager at the Ministry of Transport has been sentenced to three years and seven months imprisonment in relation to a fraud committed during her employment at the ministry, the Serious Fraud Office said. More >>
NZX's Superlife swaps notes for 71% of Energy Mad
Wednesday, 22 February 2017, 8:53 am | BusinessDesk
Feb. 21 (BusinessDesk) - SuperLife, the funds management business owned by NZX, has swapped 2.25 million convertible notes for just under 70 million shares in Energy Mad, giving it 71.4 percent of the energy efficient lightbulb marketer. More >>
Joyce unveils first social bond pilot
Wednesday, 22 February 2017, 8:48 am | BusinessDesk
Feb. 21 (BusinessDesk) - Finance Minister Steven Joyce unveiled the first social bond pilot to support getting people with moderate mental health problems back into the workforce in a pitch to the public service that it will have to lift its performance ... More >>
Dairy product prices decline after two straight gains
Wednesday, 22 February 2017, 8:26 am | BusinessDesk
Feb. 22 (BusinessDesk) - Dairy product prices fell at the Global Dairy Trade auction, stemming two straight gains, amid increased supply. More >>
NZ dollar falls ahead of milk auction
Wednesday, 22 February 2017, 8:12 am | BusinessDesk
Feb. 21 (BusinessDesk) - The New Zealand dollar fell ahead of a possible slide in global milk prices in the overnight Global Dairy Trade auction. More >>
MARKET CLOSE: NZ shares rise, Scales and Mercury gain
Wednesday, 22 February 2017, 8:04 am | BusinessDesk
Feb. 21 (BusinessDesk) - New Zealand shares rose as Scales and Mercury gained and Comvita dropped after its earnings report. More >>
While you were sleeping: Fresh Wall Street records
Wednesday, 22 February 2017, 7:44 am | BusinessDesk
Feb. 22 (BusinessDesk) - Wall Street moved higher, touching fresh records, amid better-than-expected corporate results including from Wal-Mart and Home Depot. More >>
Dairy product prices decline after two straight gains
Wednesday, 22 February 2017, 6:43 am | BusinessDesk
Feb. 22 (BusinessDesk) - Dairy product prices fell at the Global Dairy Trade auction, stemming two straight gains, amid increased supply. More >>
Colonial Motor Co reports a 5.2% dip in 1H profit
Tuesday, 21 February 2017, 3:31 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Colonial Motor Co reported a 5.2 percent drop in first half profit and while it was guardedly positive about the immediate future it signaled several risks. More >>
Caltex cuts dividend to pay for Gull acquisition
Tuesday, 21 February 2017, 3:28 pm | BusinessDesk
Feb. 21 (BusinessDesk) - ASX-listed Caltex Australia has reported a 17 percent jump in annual profit despite revenue dropping, and is looking to regional expansion with its acquisition of Gull New Zealand the first step. More >>
Comvita turns to a first-half loss
Tuesday, 21 February 2017, 1:59 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Comvita, the manuka honey company, turned to a loss in the first half of its financial year after Chinese authorities cracked down on people selling its products through informal trading channels. More >>
NZOG sees more potential in deepwater Barque prospect
Tuesday, 21 February 2017, 1:54 pm | BusinessDesk
Feb. 21 (BusinessDesk) - New Zealand Oil & Gas, which is hunting out new investment opportunities, is in talks with prospective partners for the deepwater Barque prospect off Oamaru's coast after almost trebling the size of what a successful find could ... More >>
UPDATE: Mercury reports 53% jump in 1H net profit
Tuesday, 21 February 2017, 1:46 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Mercury NZ increased first-half profit 53 percent, bolstered by favourable North Island hydro conditions and lifted its full year guidance. More >>
Tourism Holdings lifts 1H profit 38%
Tuesday, 21 February 2017, 1:07 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Tourism Holdings, the campervan rental company, lifted first-half profit 38 percent with strong tourist demand in New Zealand and Australia, and said it will at least deliver its forecast annual profit of $27 million. More >>
Heartland lifts first-half profit, ups share purchase plan
Tuesday, 21 February 2017, 1:04 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Heartland Bank increased first-half profit 14 percent as the NZX-listed lender's loan book grew at the same time as it benefited from cheaper funding costs. More >>
Wrightson profit growth stalls in first half
Tuesday, 21 February 2017, 12:44 pm | BusinessDesk
Feb. 21 (BusinessDesk) - PGG Wrightson's profit growth stalled in the first half, which the rural services company blamed on low prices for dairy and wool and reduced production of red meat which had made farmers more cautious about spending. More >>
Mercury 1H profit jumps 53%, lifts full year guidance
Tuesday, 21 February 2017, 11:58 am | BusinessDesk
Feb. 21 (BusinessDesk) - Mercury NZ increased first-half profit 53 percent, bolstered by favourable North Island hydro conditions and lifted its full year guidance. More >>
NZ dollar little changed with US holiday
Tuesday, 21 February 2017, 11:43 am | BusinessDesk
Feb. 21 (BusinessDesk) - The New Zealand dollar was little changed, getting little overnight impetus with the US on holiday, and may decline if dairy prices fall at tonight's auction and expectations firm for interest rate hikes by the Federal Reserve. More >>
Chorus on drive to upgrade ADSL copper line customers
Tuesday, 21 February 2017, 9:44 am | BusinessDesk
Feb. 20 (BusinessDesk) - Chorus is boosting efforts to switch customers using ADSL copper-based broadband services to faster VDSL or fibre technology as it faces increasing competition to its telecommunications network. More >>
