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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 458]
While you were sleeping: Unilever stock drops
Tuesday, 21 February 2017, 7:42 am | BusinessDesk
Feb. 21 (BusinessDesk) - European equities moved higher as gains in bank stocks offset a drop in Unilever shares after Kraft Heinz abandoned its bid to combine the two companies. More >>
English criticises Super Fund CEO's pay rise
Monday, 20 February 2017, 10:52 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Prime Minister Bill English has criticised the board of the New Zealand Superannuation Fund for lifting its chief executive's pay 36 percent last year, and suggested there could be a shakeup in how CEOs of the largest state ... More >>
NZ dollar slips in tussle
Monday, 20 February 2017, 10:50 pm | BusinessDesk
Feb. 20 (BusinessDesk) - The New Zealand dollar fell in subdued trading as traders looked ahead to the GlobalDairyTrade auction this week and the release of minutes of the latest Federal Reserve meeting. More >>
High Court rules Dotcom, co-accused eligible for extradion
Monday, 20 February 2017, 10:47 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Internet entrepreneur Kim Dotcom and his three co-accused are eligible for extradition to the USnited States, New Zealand's High Court ruled in a judgment published today. More >>
MARKET CLOSE: NZ shares mixed, gains for Auckland Airport
Monday, 20 February 2017, 10:46 pm | BusinessDesk
Feb. 20 (BusinessDesk) - New Zealand shares were mixed with Auckland International Airport and Spark New Zealand gaining while Chorus and Sky Network Television dropped. More >>
Privacy Commissioner: Westpac wrong to release bank records
Monday, 20 February 2017, 5:23 pm | BusinessDesk
Feb. 20 (BusinessDesk) - The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation ... More >>
Maori and Mana parties agree election tactics deal
Monday, 20 February 2017, 3:45 pm | BusinessDesk
Feb. 20 (BusinessDesk) - The Maori and Mana parties have sealed a long-expected tactical arrangement to try and ensure that both parties win at least one Maori electorate each in the Sept. 23 general election. More >>
CORRECT: Kiwibank first-half profit falls 11% on funding
Monday, 20 February 2017, 3:43 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Kiwibank Banking Group, the state-owned lender, posted an 11 percent drop in first-half profit as the costs of funding, infrastructure investment and the Kaikoura earthquake weighed on earnings. More >>
UPDATE: Freightways 1H profit rises 22%
Monday, 20 February 2017, 3:41 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Freightways, which has posted earnings growth every year except one since listing in 2003, says it expects the trend to continue through 2017 although the benefits of restructuring won't show up until the following year. More >>
Heartland Bank takes stake in online SME lender Fuelled
Monday, 20 February 2017, 3:40 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Heartland Bank has bought 25 percent of online lender Fuelled for an undisclosed sum, giving it more exposure to online small-to-medium (SME) business lending. More >>
Spark NZ seeks court-ordered brief delay on Sky/Voda tie-up
Monday, 20 February 2017, 3:38 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Spark New Zealand is one of several parties seeking a court order to delay a merger between rival Vodafone New Zealand and pay-TV operator Sky Network Television if the regulator signs off on the deal this week. More >>
NZ services sector sees growth in January
Monday, 20 February 2017, 2:18 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Activity in New Zealand's services sector, which accounts for about two-thirds of the economy, rose last month to a near-record, with ongoing strength in wholesale, retail and hospitality. More >>
NZ Steel returns to profit in first half
Monday, 20 February 2017, 2:17 pm | BusinessDesk
Feb. 20 (BusinessDesk) - A cost reduction drive, higher global steel prices, and synergies between recently acquired Pacific Steel and the New Zealand Steel plant at Glenbrook have seen a strong return to operating profit for Australian steelmaker ... More >>
Kiwibank first-half profit falls 13% on funding
Monday, 20 February 2017, 2:16 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Kiwibank Banking Group, the state-owned lender, posted a 13 percent drop in first-half profit as the costs of funding, infrastructure investment and the Kaikoura earthquake weighed on earnings. More >>
NZ producer input, output prices still lifted by milk prices
Monday, 20 February 2017, 2:14 pm | BusinessDesk
Feb. 20 (BusinessDesk) - New Zealand producer input and output prices rose in the fourth quarter once again lifted largely by rising milk prices. More >>
Freightways 1H profit rises 22%
Monday, 20 February 2017, 2:12 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Freightways posted a 22 percent gain in first-half profit, driven by growth in its express package & business mail division, which made up for a drop in earnings from information management. More >>
NZ roundwood log prices jump to a record
Monday, 20 February 2017, 1:40 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Strong domestic building activity combined with buoyant horticulture and viticulture industries has pushed up the price of roundwood logs to a record. More >>
NZ Post 1H profit drops 19% on reduced Kiwibank contribution
Monday, 20 February 2017, 1:05 pm | BusinessDesk
Feb. 20 (BusinessDesk) - New Zealand Post's first-half profit dropped 19 percent after the sale of almost half its stake in Kiwibank reduced income and as revenue from traditional postal services continued to decline. More >>
ASB to offer up to $100m of five-year fixed rate notes
Monday, 20 February 2017, 12:52 pm | BusinessDesk
Feb. 20 (BusinessDesk) - ASB Bank is offering up to $100 million of listed fixed rate notes with a maturity date of Feb. 24, 2022 and it can accept unlimited oversubscriptions at its discretion. More >>
Chorus beats first-half profit expectations
Monday, 20 February 2017, 12:42 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Chorus beat first-half profit expectations and raised its forecast for annual earnings as the telecommunications network operator benefited from the increase in regulated prices on its copper lines, even as connection numbers ... More >>
