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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 462]
A2 Milk first-half profit soars
Wednesday, 15 February 2017, 12:34 pm | BusinessDesk
Feb. 15 (BusinessDesk) - A2 Milk, which markets milk with a protein variant said to have health benefits, more than tripled its first-half profit as demand for its A2 Platinum infant formula surged in its key Australia, New Zealand and China businesses. More >>
Christchurch Airport lifts 1H profit
Wednesday, 15 February 2017, 12:25 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Christchurch International Airport, which is 75 percent owned by the city council, posted a 13 percent lift in profit after a record number of passengers in the first half of the financial year. More >>
NZ dollar slips as Fed's Yellen keeps March open
Wednesday, 15 February 2017, 11:35 am | BusinessDesk
Feb. 15 (BusinessDesk) - The New Zealand dollar fell after Federal Reserve chair Janet Yellen kept open the chance of a rate hike next month as the world's biggest central bank tightens monetary policy, pushing up yields on US Treasuries and stoking ... More >>
FMA thinks hard about tech disruption in strategy refresh
Wednesday, 15 February 2017, 11:34 am | BusinessDesk
Feb. 14 (BusinessDesk) - The Financial Markets Authority is bracing for rapid changes as a result of technology advances with automated financial advice, known as robo-advice, the most obvious candidate. More >>
NZ dollar falls vs Aussie on China data
Wednesday, 15 February 2017, 8:54 am | BusinessDesk
Feb. 14 (BusinessDesk) - The New Zealand dollar fell against the Australian dollar after a strong business survey across the Tasman and better-than-expected data out of China. More >>
While you were sleeping: Stocks rise on Yellen
Wednesday, 15 February 2017, 8:00 am | BusinessDesk
Feb. 15 (BusinessDesk) - Wall Street continued its record-setting streak while the US dollar also gained after Federal Reserve Chair Janet Yellen signalled further interest rate increases ahead. More >>
Second attempt at seabed iron sands mining permit kicks off
Wednesday, 15 February 2017, 12:43 am | BusinessDesk
Feb. 14 (BusinessDesk) - Trans Tasman Resource will try again in hearings starting this week to get permission to mine iron sands from the ocean floor in New Zealand's Exclusive Economic Zone. More >>
RBNZ to hold more talks over bank quarterly disclosure
Wednesday, 15 February 2017, 12:41 am | BusinessDesk
Feb. 14 (BusinessDesk) - The Reserve Bank will hold another round of talks with the banking sector after lenders pushed back on the detail of its proposed 'dashboard' regime for making their financial information available outside of half-year and ... More >>
Rubicon, private investors agree to buy Tenon's Clearwood
Wednesday, 15 February 2017, 12:38 am | BusinessDesk
Feb. 14 (BusinessDesk) - Rubicon, the NZX-listed forestry biotech company that controls Tenon has teamed with US and New Zealand investors to agree to buy the wood processing company's remaining asset, the Clearwood manufacturing business, for US$55 million, ... More >>
NZOG sells 27.5% stake in Tui oil field for US$750,000
Wednesday, 15 February 2017, 12:35 am | BusinessDesk
Feb. 14 (BusinessDesk) - New Zealand Oil & Gas, which is on the prowl for new investment opportunities, has sold its 27.5 percent stake in the Tui oil fields off the coast of Taranaki for US$750,000. More >>
MARKET CLOSE: NZ shares rise, Contact, Port of Tauranga gain
Wednesday, 15 February 2017, 12:27 am | BusinessDesk
Feb. 14 (BusinessDesk) - New Zealand shares gained, with Port of Tauranga, Metlifecare and Contact Energy rising, while stock market operator NZX dropping after posting its earnings. More >>
Government backs fast-track Urban Development Authorities
Tuesday, 14 February 2017, 5:30 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Locally controlled urban development authorities (UDAs) with compulsory land acquisition powers and fast-tracked resource consent processes are the latest weapon the government is preparing to fight the slow speed of new ... More >>
Council slams environmental groups' court intervention
Tuesday, 14 February 2017, 5:29 pm | BusinessDesk
Feb. 14 (BusinessDesk) - The Manawatu-Whanganui Regional Council says the Environment Court is being asked to make "generalised, unnecessary and inappropriate" rules about how it considers applications for resource consents by environmental ... More >>
Targeted building assessments reveal no threat to safety
Tuesday, 14 February 2017, 3:48 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Engineering reports into a raft of Wellington buildings in the wake of the massive November earthquake have uncovered some damage but no threat to public safety, Wellington City Council officials said today. More >>
UPDATE: NZX shares fall from 21-month high
Tuesday, 14 February 2017, 3:28 pm | BusinessDesk
NZX shares fell from a 21-month high after the stock market operator unveiled a slump in annual profit while saying the groundwork was laid for future earnings growth. More >>
NZ food prices rise 0.9% in January
Tuesday, 14 February 2017, 2:18 pm | BusinessDesk
Feb. 14 (BusinessDesk) - New Zealand food prices rose in January, as apples surged to a record high, leading gains in fruit and vegetables. More >>
NZ house prices advance in January, sales activity slows
Tuesday, 14 February 2017, 1:57 pm | BusinessDesk
Feb. 14 (BusinessDesk) - New Zealand's median house price rose 9.4 percent in January, with two regions recording new records, although activity slowed, according to the Real Estate Institute. More >>
NZX annual profit falls 62% on Ralec litigation costs
Tuesday, 14 February 2017, 12:26 pm | BusinessDesk
Feb. 14 (BusinessDesk) - NZX annual profit dropped 62 percent as the stock market operator faced mounting costs from the protracted Ralec litigation and a new regulatory environment, and was compared against a 2015 result flattered by the gain on the ... More >>
NZ dollar falls as greenback reaches 3-week high
Tuesday, 14 February 2017, 11:54 am | BusinessDesk
Feb. 14 (BusinessDesk) - The New Zealand dollar fell as the greenback reached a three-week high ahead of Federal Reserve chair Janet Yellen's Senate testimony and optimism about the Trump administration's recent foreign policy efforts and tax cut plans. More >>
Lion NZ boss Rory Glass says Panhead a 'runaway train
Tuesday, 14 February 2017, 11:23 am | BusinessDesk
Feb. 14 (BusinessDesk) - Lion (Beer, Spirits and Wine) New Zealand, the local unit of Japanese brewer Kirin Holdings, says its newly acquired Panhead brand is a "runaway train" and the company can't keep pace with demand. More >>
