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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 478]
2017 uncertain for house prices, with mixed expert views
Friday, 13 January 2017, 8:23 pm | BusinessDesk
UPDATE: 7th par, clarifies that price growth of 12.2% is the Auckland market, rather than the national picture. More >>
UPDATE: NZ have 'frugal Christmas' with retail spending down
Friday, 13 January 2017, 4:09 pm | BusinessDesk
Jan. 13 (BusinessDesk) - New Zealand seasonally adjusted retail spending on electronic cards eased more than expected despite the Christmas holiday. More >>
Wool prices fall in first auction of 2017
Friday, 13 January 2017, 4:05 pm | BusinessDesk
Jan. 13 (BusinessDesk) - New Zealand Wool Services, the country's largest wool exporter, says prices at this week's wool auction fell, in particular for varieties sourced from the North Island. More >>
Hospitality spending on cards exceeds $1 billion in December
Friday, 13 January 2017, 2:25 pm | BusinessDesk
Jan. 13 (BusinessDesk) - New Zealand seasonally adjusted retail spending on electronic cards eased in December although actual retail spending reached the highest-ever monthly figure as the tourism boom continued. More >>
BNZ appoints Louis Hawke to board
Friday, 13 January 2017, 2:23 pm | BusinessDesk
Jan. 13 (BusinessDesk) - Bank of New Zealand has appointed Louis Hawke, who has worked for ANZ Australia, Westpac Banking Corp and as an economist for the Australian government, to its board. More >>
Bapcor offer for Hellaby goes unconditional
Friday, 13 January 2017, 2:06 pm | BusinessDesk
Jan. 13 (BusinessDesk) - Bapcor's takeover offer of Hellaby Holdings has now been declared unconditional, with shareholders who have accepted the offer to receive $3.60 per share within the next 7 days. More >>
Key deadline for Veritas on future of Nosh supermarkets
Friday, 13 January 2017, 2:01 pm | BusinessDesk
Jan. 13 (BusinessDesk) - Auckland-based Veritas Investments said on Friday it is still working through the process ahead of a deadline to present a plan for its unprofitable Nosh supermarket business to ANZ Bank New Zealand. More >>
NZ Dollar makes further gains overnight
Friday, 13 January 2017, 12:03 pm | BusinessDesk
Jan. 13 (BusinessDesk) - The New Zealand dollar made further gains overnight benefiting from a weaker US dollar as markets remained disappointed with the lack of detail from US president-elect Donald Trump’s press conference. More >>
NZ economy to grow 3.5% in 2017
Friday, 13 January 2017, 11:29 am | BusinessDesk
Jan. 13 (BusinessDesk) - The New Zealand economy is expected to grow 3.5 percent over the coming year, with construction, tourism and household spending to lift inflation from its record lows, though international political concerns cast a shadow, according ... More >>
A2 Milk shares fall as Bellamy's slide continues
Friday, 13 January 2017, 8:49 am | BusinessDesk
Jan. 12 (BusinessDesk) - A2 Milk Co shares fell today, with rival ASX-listed Bellamy's Australia sliding another 17 percent after yesterday's slump when it cut its profit forecast for the second time, announced chief executive Laura McBain's exit, and ... More >>
Fonterra milk collections remain below previous season
Friday, 13 January 2017, 8:48 am | BusinessDesk
Jan. 12 (BusinessDesk) - Milk collections by Fonterra Cooperative Group this season are continuing to track below the previous year, mainly due to lower production on the North Island. More >>
NZ dollar benefits from Trump press conference
Friday, 13 January 2017, 8:46 am | BusinessDesk
Jan. 12 (BusinessDesk) - The New Zealand dollar continued to hover at its highest level since mid-December against the greenback Thursday, as traders pushed down the value of the US currency following President-elect Trump's press conference. More >>
Spark and A2 drop while NZ Refining, Fonterra gain
Friday, 13 January 2017, 8:44 am | BusinessDesk
Jan. 12 (BusinessDesk) - New Zealand shares were mixed, with trading still quiet. Spark New Zealand and A2 Milk Co fell while New Zealand Refining and Fonterra Shareholders Fund rose. More >>
While you were sleeping: Wall St drops
Friday, 13 January 2017, 7:41 am | BusinessDesk
Jan. 13 (BusinessDesk) - Wall Street fell as investors reassessed their bets on increased government spending, lower taxes and looser regulation as US President-elect Donald Trump stopped short of offering further details. More >>
Fonterra, LIC to launch online farm performance tool
Thursday, 12 January 2017, 4:34 pm | BusinessDesk
Jan. 12 (BusinessDesk) – Fonterra Cooperative Group and Livestock Improvement Corporation, both farmer-owned cooperatives, are set to launch a new online farm performance tool in mid-February called Agrigate. More >>
NZ commodity prices rise for eighth month, buoyed by dairy
Thursday, 12 January 2017, 4:33 pm | BusinessDesk
Jan. 12 (BusinessDesk) – New Zealand commodity prices rose in December, the eighth consecutive monthly gain, as dairy prices continued to improve. More >>
Comvita expects to realise $30M from sale of Medihoney
Thursday, 12 January 2017, 2:34 pm | BusinessDesk
Jan. 12 (BusinessDesk) - Comvita, the manuka honey products company, has sold its Medihoney brand to US partner Derma Sciences for about $19 million, and will reap a further $11 million selling Derma shares in a takeover offer of the Nasdaq-listed ... More >>
Fairfax NZ posts first annual loss in four years in 2016
Thursday, 12 January 2017, 12:20 pm | BusinessDesk
Jan. 12 (BusinessDesk) - Fairfax New Zealand posted its first annual loss in four years as it wrote off than $100 million from the value of its mastheads and buildings and more than doubled its bill to pay out redundancies in 2016, all while resuming ... More >>
NZ dollar touches month-high
Thursday, 12 January 2017, 11:41 am | BusinessDesk
Jan. 12 (BusinessDesk) - The New Zealand dollar hit a month-high as investors were disappointed US president-elect Donald Trump didn't provide much detail on his spending programme in his first press conference, prompting a sell-off in the greenback. More >>
ASX-listed infant formula maker Bellamy's shares plunge
Thursday, 12 January 2017, 8:43 am | BusinessDesk
Jan 11 (BusinessDesk) - Bellamy’s Australia shares took a nose dive after it cut its profit forecast for a second time, announced chief executive Laura McBain is leaving the company, and tweaked the terms of its supply contract with Fonterra Cooperative ... More >>
