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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 46]
NZ govt's books in better shape than forecast
Thursday, 27 June 2019, 1:05 pm | BusinessDesk
June 27 (BusinessDesk) - The government's books for the first 11 months of the year are in better shape as the tax take came in higher than expected. More >>
TIL lowers net profit guidance on earlier relocation costs
Thursday, 27 June 2019, 12:16 pm | BusinessDesk
June 27 (BusinessDesk) - TIL Logistics lowered its full-year net profit guidance on increases in temporary staffing costs after its Move Logistics unit relocated to new warehouse facilities sooner than expected. More >>
NZ dollar benefits from optimism US, China can reach deal
Thursday, 27 June 2019, 11:05 am | BusinessDesk
June 27 (BusinessDesk) - The New Zealand dollar rose as sentiment improves ahead of the G20 meeting in Japan this weekend. More >>
MARKET CLOSE: NZ shares dip as investors eye Fletcher update
Wednesday, 26 June 2019, 9:13 pm | BusinessDesk
June 26 (BusinessDesk) - New Zealand shares snapped a three-day gain, edging lower as investors pored through the details of Fletcher Building's investor briefing in which it confirmed a small capital return and noted Australian trading conditions ... More >>
Napier Port plans mid-July share offer
Wednesday, 26 June 2019, 9:13 pm | BusinessDesk
June 26 (BusinessDesk) - Napier Port plans to kick-off its share offer mid-July and list its stock on the NZX the following month. More >>
NZ dollar firms after RBNZ holds rates
Wednesday, 26 June 2019, 9:12 pm | BusinessDesk
June 26 (BusinessDesk) - The New Zealand dollar firmed after the central bank kept rates on hold as expected and indicated that more easing was likely to be necessary. More >>
Banks, insurers should expect more intrusive RBNZ - Bascand
Wednesday, 26 June 2019, 9:10 pm | BusinessDesk
June 26 (BusinessDesk) - Banks and insurance companies regulated by the Reserve Bank can expect the central bank to be more "intrusive" as institutional self-discipline has been lacking, says the central bank's deputy governor Geoff Bascand. More >>
McConnell to pay $1.1M: used Hawkins' insolvency as a weapon
Wednesday, 26 June 2019, 7:02 pm | BusinessDesk
June 26 (BusinessDesk) - The parent company of the former Hawkins businesses tipped into receivership has been ordered to pay $1.1 million of court costs for exploiting the looming failure and delaying a leaky school claim brought by the Ministry of ... More >>
Hipkins seeks joined-up thinking across state bureaucracy
Wednesday, 26 June 2019, 6:51 pm | BusinessDesk
June 26 (BusinessDesk) - Major reforms to the law governing the public service will force far more collaboration between government agencies on the biggest policy challenges, State Services Minister Chris Hipkins says. More >>
Economists now expect August rate cut from RBNZ
Wednesday, 26 June 2019, 6:50 pm | BusinessDesk
June 26 (BusinessDesk) - Economists say the central bank will cut interest rates in August given the monetary policy committee said risks are tilted to the downside and that more support from monetary policy was likely to be necessary. More >>
RBNZ keeps OCR at 1.5%, signals more easing likely
Wednesday, 26 June 2019, 5:28 pm | BusinessDesk
June 26 (BusinessDesk) - The Reserve Bank kept the official cash rate at 1.5 percent and left the door open for further rate cuts as the outlook for the economy has softened since its assessment in May. More >>
UPDATE: Fletcher shares gain on $300 mln buyback
Wednesday, 26 June 2019, 3:36 pm | BusinessDesk
June 26 (BusinessDesk) - Fletcher Building shares recovered some of yesterday's decline as the country's biggest listed construction company announced plans to buy back as much as $300 million of stock, with the bulk of the billion-dollar Formica sale ... More >>
IMF favours gradual bank capital hike
Wednesday, 26 June 2019, 3:25 pm | BusinessDesk
June 26 (BusinessDesk) - The Reserve Bank's proposal to almost double the minimum amount of tier 1 capital banks have to hold is positive but must be gradually phased in, the International Monetary Fund says. More >>
Fonterra says full-season milk collection up 1.2%
Wednesday, 26 June 2019, 2:36 pm | BusinessDesk
June 26 (BusinessDesk) - Fonterra says its New Zealand milk collection for the year through May rose 1.2 percent despite a weak end to the season. More >>
Tilt eyes Snowtown 2 sale to free up capital
Wednesday, 26 June 2019, 1:10 pm | BusinessDesk
June 26 (BusinessDesk) - Tilt Renewables is considering selling its 270 MW Snowtown 2 wind farm in South Australia. More >>
NZ economy loses momentum, risks tilted to downside - IMF
Wednesday, 26 June 2019, 12:30 pm | BusinessDesk
June 26 (BusinessDesk) - New Zealand's economic expansion has lost momentum and while the near-term outlook is expected to improve, risks are increasingly tilted to the downside, according to the International Monetary Fund. More >>
Fletcher flags $300 mln share buyback
Wednesday, 26 June 2019, 12:14 pm | BusinessDesk
June 26 (BusinessDesk) - Fletcher Building plans to buy back as much as $300 million of stock, with the bulk of the billion-dollar Formica sale proceeds being used to cut debt. More >>
New Zealand dollar holds gains; eyes on RBNZ
Wednesday, 26 June 2019, 11:11 am | BusinessDesk
June 26 (BusinessDesk) - The New Zealand dollar held its gains as weak US data put pressure on the greenback and as investors await the Reserve Bank's rate decision this afternoon. More >>
MARKET CLOSE: NZ shares extend gain as A2 buoyed by trade
Tuesday, 25 June 2019, 8:58 pm | BusinessDesk
June 25 (BusinessDesk) - New Zealand shares rose for a third day, led by A2 Milk as trade data allayed some concerns over how new Chinese e-commerce rules will be applied. Auckland International Airport hit a record. More >>
RBNZ review seeks wider input on quantitative easing
Tuesday, 25 June 2019, 8:13 pm | BusinessDesk
June 25 (BusinessDesk) - The panel set up to review the Reserve Bank's governing legislation wants broader public input on some curlier policy questions, such as the decision-making around quantitative easing, the intensity of bank supervision, ... More >>
