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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 472]
Dollar pushes higher on CPI but profit-taking tempers gains
Thursday, 26 January 2017, 8:19 pm | BusinessDesk
Jan. 26 (BusinessDesk) - The New Zealand dollar gained Thursday as investors were cheered by stronger-than-expected inflation data although some profit-taking capped gains More >>
Phitek sold to NYSE-listed Amphenol in $60M deal
Thursday, 26 January 2017, 8:16 pm | BusinessDesk
Jan. 26 (BusinessDesk) - Phitek Systems, which supplies noise cancellation and audio enhancement equipment, has been sold to New York-listed Amphenol Corp for $60 million before adjustments. More >>
Air NZ's share price target lowered by Craigs analysts
Thursday, 26 January 2017, 7:08 pm | BusinessDesk
Jan. 26 (BusinessDesk) - Analysts at Craigs Investment Partners have downgraded the share price target for Air New Zealand and warned its earnings before tax is likely to come in at the lower end of expectations. More >>
Callaghan appoints panel to help firms leverage their IP
Thursday, 26 January 2017, 4:54 pm | BusinessDesk
Jan. 26 (BusinessDesk) - Callaghan Innovation, the government agency tasked with accelerating the commercialisation of innovation by local businesses, has appointed a panel of intellectual property specialists in a programme to help firms understand ... More >>
NZ dollar hits new 2 1/2-month high
Thursday, 26 January 2017, 3:31 pm | BusinessDesk
Jan. 26 (BusinessDesk) - The New Zealand dollar rose to a two-and-a-half-month high after inflation climbed back into the Reserve Bank's target band, effectively putting the kybosh on the prospect of further rate cuts. More >>
Life insurer Partners Life appoints Minto as new chairman
Thursday, 26 January 2017, 3:09 pm | BusinessDesk
Jan. 26 (BusinessDesk) - Partners Life, a life insurance company whose owners include private equity firm Blackstone, has appointed Jim Minto as its new chairman, the company said today. More >>
NZ consumer prices rise at fastest pace in 2 1/2 years
Thursday, 26 January 2017, 2:17 pm | BusinessDesk
Jan. 26 (BusinessDesk) - New Zealand consumer prices rose at their fastest annual pace in two-and-a-half years in the final three months of 2016 as a recovery in global oil prices pushed up the cost of petrol, and the nation's bubbling property market ... More >>
NZ budget deficit smaller than forecast in first 5 months
Thursday, 26 January 2017, 1:54 pm | BusinessDesk
Jan. 26 (BusinessDesk) - The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first five months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More >>
Existing fibre partners get slice of $300m expansion to UFB
Thursday, 26 January 2017, 12:21 pm | BusinessDesk
Jan. 26 (BusinessDesk) - The four existing companies partnering with the government to build a nationwide ultrafast fibre broadband network have each got a slice of the government's $300 million expansion to the project. More >>
NZ dollar holds near two-month high ahead of inflation data
Thursday, 26 January 2017, 11:32 am | BusinessDesk
Jan. 26 (BusinessDesk) - The New Zealand dollar held near a two-month high ahead of consumer prices data expected to show the pace of inflation has returned to the Reserve Bank's target band adding to the case for interest rate hikes this year More >>
While you were sleeping: Dow climbs above 20,000
Thursday, 26 January 2017, 7:59 am | BusinessDesk
Jan. 26 (BusinessDesk) - Wall Street rose, pushing the Dow Jones Industrial Average above 20,000 for the first time, amid better-than-expected quarterly earnings and fresh optimism about US President Donald Trump’s plans to boost growth. More >>
HEB Construction sinks into the red in 2016
Wednesday, 25 January 2017, 9:04 pm | BusinessDesk
Jan. 25 (BusinessDesk) - HEB Construction, which was bought by France's Vinci Group in 2015 for 43 million euros, sank into the red last year after it wrote down the value of a major project by almost $31 million. More >>
Ross Asset liquidators recouped $4 mln in past six months
Wednesday, 25 January 2017, 8:52 pm | BusinessDesk
Jan. 25 (BusinessDesk) - The liquidator of Ross Asset Management has lifted settlements with investors to $6.1 million and got $161,585 from share sales in the past six months but its job is partly on hold pending a Supreme Court decision. More >>
Customer numbers fall at Genesis Energy, but LPG sales soar
Wednesday, 25 January 2017, 8:50 pm | BusinessDesk
Jan. 25 (BusinessDesk) - Genesis Energy, the country's largest energy company by customer numbers, says electricity retail connections fell by 1.2 percent to 514,155 between the end of September and the end of December 2016. More >>
NZ shares rise, led by Comvita, Tegel, Port of Tauranga
Wednesday, 25 January 2017, 8:49 pm | BusinessDesk
Jan. 25 (BusinessDesk) - New Zealand shares rose, with Comvita continuing its bounce from Monday's plunge and Tegel Group Holdings gaining. More >>
Fonterra moves to reassure shareholders
Wednesday, 25 January 2017, 8:47 pm | BusinessDesk
Jan. 25 (BusinessDesk) - Fonterra Cooperative Group has sought to reassure shareholders after its Chinese partner Beingmate Baby and Child Food Co slashed its full-year guidance. More >>
NZ public sector at top spot in corruption perception index
Wednesday, 25 January 2017, 8:46 pm | BusinessDesk
Jan. 25 (BusinessDesk) - New Zealand's public sector reclaimed the top spot in Transparency International's corruption perception index in a year when policymakers pushed through legislation targeting organised crime and corruption, and clamped down on the potential ... More >>
Wellington High Court to re-open in February
Wednesday, 25 January 2017, 8:44 pm | BusinessDesk
Jan. 25 (BusinessDesk) - Wellington High Court will re-open on Feb. 1, though the Law Society library based in the court will stay closed as further work is done. More >>
Air NZ's revenue falls in first six months of financial year
Wednesday, 25 January 2017, 8:43 pm | BusinessDesk
Jan. 25 (BusinessDesk) - Passenger revenue in the first six months of Air New Zealand's financial year has fallen sharply, even when the impact of foreign exchange fluctuations are eliminated. More >>
Dollar gains vs Aussie on weaker-than-expected Oz CPI
Wednesday, 25 January 2017, 8:41 pm | BusinessDesk
Jan. 25 (BusinessDesk) - The New Zealand dollar gained strongly against the Australian dollar after fourth-quarter inflation was weaker than expected across the Tasman but was unchanged against the greenback as markets continued to adopt a wait-and-see ... More >>
