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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 470]
Sausage-maker Hellers acquires Flavour House
Wednesday, 1 February 2017, 9:15 am | BusinessDesk
Jan. 31 (BusinessDesk) - Hellers, New Zealand's biggest producer of bacon, ham and smallgoods, has acquired family-owned packaged foods business Gramart Foods, which trades as Flavour House, for an undisclosed amount. More >>
Meridian loses $1.2M battle over Wellington wind farm rates
Wednesday, 1 February 2017, 9:02 am | BusinessDesk
Jan. 31 (BusinessDesk) - Meridian Energy has lost its dispute with the Wellington City Council over $1.2 million in rates paid for its wind farms, with the High Court ruling the council acted lawfully in how it calculated the bill. More >>
Aussie firm cleared to buy 40% of Healthcare of NZ
Wednesday, 1 February 2017, 9:00 am | BusinessDesk
Jan. 31 (BusinessDesk) - The Overseas Investment Office has given Australian-controlled Home Care BidCo Pty a green light to buy up to 40 percent of leading home health and disability services provider Healthcare of New Zealand Holdings in a deal worth ... More >>
Veritas bank deadline on Nosh extended to Feb. 2 by ANZ
Wednesday, 1 February 2017, 8:58 am | BusinessDesk
Jan. 31 (BusinessDesk) - Veritas Investments has been given a second extension to either sell or begin winding up its Nosh food supermarkets by its lender, ANZ Bank New Zealand. More >>
Asian investor takes 80% stake in Better Health Co
Wednesday, 1 February 2017, 8:57 am | BusinessDesk
Jan. 31 (BusinessDesk) - Better Health Co has sold an 80 percent stake to an Asian private equity fund to help the Lower Hutt-based supplements maker break into export markets. More >>
NZ dollar gains as Trump's policy moves weigh on greenback
Wednesday, 1 February 2017, 8:54 am | BusinessDesk
Jan. 31 (BusinessDesk) - The New Zealand dollar gained as US President Donald Trump's latest policy decisions unsettled markets and weighed on the greenback. More >>
Douglas signs new cancer drug R&D deal with Manchester Uni
Wednesday, 1 February 2017, 8:53 am | BusinessDesk
Feb. 1 (BusinessDesk) - Douglas Pharmaceuticals, the country's biggest drugs developer and manufacturer, has signed a research and licensing deal with the University of Manchester's innovation unit, UMI3, to repurpose an HIV drug to prevent early-stage ... More >>
NZ shares fall as global equities slide
Wednesday, 1 February 2017, 8:51 am | BusinessDesk
Jan. 31 (BusinessDesk) - New Zealand shares fell, joining a global selloff as US President Donald Trump spooked markets with his ad hoc policy decisions. Meridian Energy, Warehouse Group and Air New Zealand declined. More >>
While you were sleeping: Wall St, dollar slide
Wednesday, 1 February 2017, 8:00 am | BusinessDesk
Feb. 1 (BusinessDesk) - Wall Street moved lower, as did equities in Europe, amid disappointing earnings forecasts from companies including UPS and Under Armour as well as weaker-than-expected reports on US consumer confidence and Chicago-area manufacturing. More >>
Oceania Natural third-quarter sales growth stalls
Tuesday, 31 January 2017, 3:48 pm | BusinessDesk
Jan. 31 (BusinessDesk) - Oceania Natural's third-quarter revenue stalled earlier growth as an unstable grey market in China prompted the honey and noni juice products maker to rethink its distribution into the world's most populous nation. More >>
NZ tourism, immigration hit fresh records in calendar 2016
Tuesday, 31 January 2017, 3:02 pm | BusinessDesk
Jan. 31 (BusinessDesk) - New Zealand saw record numbers of tourists and immigrants in 2016 with more migrants coming in on work visas and more holidaymakers than ever before, and economists expect migrant inflows to keep rising. More >>
Heineken-owned DB buys Tuatara for undisclosed sum
Tuesday, 31 January 2017, 3:00 pm | BusinessDesk
Jan. 31 (BusinessDesk) - Heineken-owned DB Breweries, which owns bars and liquor brands including Tui, Monteiths and Redwood Cider, has bought Kapiti boutique brewer Tuatara Brewing Co for an undisclosed sum. More >>
Spotcap to enter NZ market offering unsecured loans to SMEs
Tuesday, 31 January 2017, 12:30 pm | BusinessDesk
Jan. 31 (BusinessDesk) - Spotcap, a Berlin-based lender to small and medium-sized businesses, is to enter the New Zealand market offering unsecured credit lines and business loans of up to $250,000. More >>
Sky TV to pay early dividend ahead of Vodafone merger
Tuesday, 31 January 2017, 12:23 pm | BusinessDesk
Jan. 31 (BusinessDesk) - Sky Network Television will pay an early interim dividend ahead of the planned merger with Vodafone New Zealand and raise the cash portion of its acquisition of the telecommunications carrier to reflect a bigger return than ... More >>
Fonterra director Michael Spaans steps down
Tuesday, 31 January 2017, 12:17 pm | BusinessDesk
Jan. 31 (BusinessDesk) - Fonterra Cooperative Group, New Zealand's dominant dairy processor, said director Michael Spaans has stepped down from the board due to ill health, and has been replaced by Ian Farrelly, who retired from the role last month. More >>
NZ dollar gains as outlook for local economy boosted
Tuesday, 31 January 2017, 11:43 am | BusinessDesk
Jan. 31 (BusinessDesk) - The New Zealand dollar rose as optimism about the outlook for the domestic economy boosted the kiwi while markets tried to assess the implications of US President Donald Trump's executive orders such as a halt to some inbound migrants. More >>
NZ dollar little changed as Trump impact weighed
Tuesday, 31 January 2017, 9:00 am | BusinessDesk
Jan. 30 (BusinessDesk) - The New Zealand dollar was little changed near its highest in more than two months, having rallied through January, as low global volatility ensures the so-called carry trade remains popular. More >>
NZX reiterated at 'outperform' by First NZ
Tuesday, 31 January 2017, 8:57 am | BusinessDesk
Jan. 30 (BusinessDesk) - NZX shares were reiterated as 'outperform' by brokerage First NZ Capital, which raised its earnings forecasts for 2017 and 2018 primarily to reflect the market operator's sale of the unprofitable Clear Grain Exchange. More >>
Chorus and Fisher & Paykel drop while Heartland, Air NZ gain
Tuesday, 31 January 2017, 8:35 am | BusinessDesk
MARKET CLOSE: NZ shares fall; Chorus and Fisher & Paykel drop while Heartland, Air NZ gain More >>
While you were sleeping: Trump depresses stocks
Tuesday, 31 January 2017, 7:53 am | BusinessDesk
Jan. 31 (BusinessDesk) - Equities slid on both sides of the Atlantic amid the uncertainty created by US President Donald Trump, who has riled national and corporate leaders with moves to implement alienating protectionist and isolationist policies including ... More >>
