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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 483]
ASX-listed Caltex Australia agrees to buy Gull NZ
Thursday, 22 December 2016, 2:44 pm | BusinessDesk
Dec. 22 (BusinessDesk) - Caltex Australia has agreed to buy Gull New Zealand for $340 million, giving the ASX-listed fuels company a foothold on this side of the Tasman with about 5 percent of the market. More >>
NZ economy grows more than expected in 3rd qtr
Thursday, 22 December 2016, 2:04 pm | BusinessDesk
Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More >>
Bapcor gets OIO approval to buy Hellaby
Thursday, 22 December 2016, 1:46 pm | BusinessDesk
Dec. 22 (BusinessDesk) - Bapcor, the ASX-listed auto-parts company, says it's confident it will get acceptances for more than 50 percent of Hellaby Holdings under its takeover offer and may waive its 90 percent ownership condition. More >>
Augusta to buy 33 Broadway in Auckland for $143 mln
Thursday, 22 December 2016, 1:41 pm | BusinessDesk
Dec. 22 (BusinessDesk) – Augusta Capital said its Augusta Funds Management unit has inked a deal to purchase a development in Newmarket, Auckland, for $143 million. More >>
Commerce Commission backs away from Spark deregulation
Thursday, 22 December 2016, 12:40 pm | BusinessDesk
Dec. 22 (BusinessDesk) - The Commerce Commission has backed away from a draft view that Spark New Zealand's wholesale voice services should be deregulated, instead recommending new Telecommunications Minister Simon Bridges revisit the issue in two ... More >>
NZ dollar falls ahead of GDP
Thursday, 22 December 2016, 11:58 am | BusinessDesk
Dec. 22 (BusinessDesk) - The New Zealand dollar fell, dropping back below 69 US cents for a second day, as traders await third quarter gross domestic product and balance of payments data while market liquidity dwindles ahead of the Christmas-New Year ... More >>
New Zealand milk collection falls 5.7% in first half
Thursday, 22 December 2016, 8:24 am | BusinessDesk
Dec. 21 (BusinessDesk) - Fonterra Cooperative Group's New Zealand milk collection was down 5.7 percent on the year in the six months to Nov. 30 as dairying regions were hit by unfavourable weather conditions. More >>
Susan Paterson tapped for Steel & Tube chair
Thursday, 22 December 2016, 8:23 am | BusinessDesk
Dec. 21 (BusinessDesk) - Professional director Susan Paterson will join the Steel & Tube Holdings board next month and succeed chairman John Anderson when the former banker departs the steel products distributor in the first half of 2017. More >>
NZ dollar little changed as greenback momentum slows
Thursday, 22 December 2016, 8:20 am | BusinessDesk
Dec. 21 (BusinessDesk) - The New Zealand dollar was little changed as the greenback lost some of its lustre in the Asian trading session, having touched a six-month low on a dip in dairy prices. More >>
National takes a hit in Roy Morgan poll
Thursday, 22 December 2016, 8:18 am | BusinessDesk
Dec. 21 (BusinessDesk) - The National Party has taken a 4.5 percentage point hit since the departure of former Prime Minister John Key on Dec. 5, but the Labour Party continues to poll below 30 percent despite a 5.5 percentage point jump in support, ... More >>
NZ shares rise, led by A2 on formula update
Thursday, 22 December 2016, 8:17 am | BusinessDesk
Dec. 21 (BusinessDesk) - New Zealand shares edged higher, led by A2 Milk Co after it reassured the market about its infant formula business, while Tourism Holdings gained on a US acquisition. Intueri Education Group sank by a fifth after missing ... More >>
While you were sleeping: Stocks ease from records
Thursday, 22 December 2016, 7:36 am | BusinessDesk
Dec. 22 (BusinessDesk) - Wall Street slipped as investors reassessed valuations in a market trading near record highs. More >>
Rifa offer for Airwork near top of assessed range
Wednesday, 21 December 2016, 11:39 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Zhejiang Rifa Holding Group's partial takeover offer for Airwork Holdings is near the top of independent adviser Grant Samuel's assessed value range for the shares. More >>
Alliance to repair road, rail infrastructure near Kaikoura
Wednesday, 21 December 2016, 6:40 pm | BusinessDesk
Dec. 21 (BusinessDesk) – Transport Minister Simon Bridges says an alliance has been established to repair road and rail infrastructure near the South Island coastal town of Kaikoura after a 7.8 magnitude earthquake isolated it in November. More >>
Fronde 1H profit falls 26% as company scales back operations
Wednesday, 21 December 2016, 6:39 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Fronde Systems Group, which provides IT services to businesses, posted a 26 percent decline in first-half profit and lower revenue as the company continued to cut costs and quit unprofitable business. More >>
A2 scotches talk of infant formula woes; shares gain
Wednesday, 21 December 2016, 6:37 pm | BusinessDesk
Dec. 21 (BusinessDesk) - A2 Milk Co shares gained after the milk marketer played down fears about the infant formula market stemming from ASX-listed rival Bellamy's Australia's extended trading halt. More >>
Rifa offer near top of Grant Samuel's assessed range
Wednesday, 21 December 2016, 4:56 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Zhejiang Rifa Holding Group's partial takeover offer for Airwork Holdings is near the top of independent adviser Grant Samuel's assessed value range for the shares. More >>
NZ trade deficit narrows in November
Wednesday, 21 December 2016, 3:41 pm | BusinessDesk
Dec. 21 (BusinessDesk) - New Zealand's monthly trade deficit narrowed in November as imports declined from earlier periods which were boosted by aircraft arrivals. More >>
KiwiRail cans electric trains, goes with diesel
Wednesday, 21 December 2016, 2:52 pm | BusinessDesk
Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More >>
NZ migration, tourism set new records in November
Wednesday, 21 December 2016, 2:46 pm | BusinessDesk
Dec. 21 (BusinessDesk) - New Zealand's booming migration and tourism set new records in November, with arrivals continuing to increase and departures steadily lower. More >>
