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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 484]
Tourism Holdings to buy El Monte US campervan business
Wednesday, 21 December 2016, 1:19 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Tourism Holdings will pay US$65.3 million for US campervan rental and sales business El Monte Rents to expand its operations in the world's largest recreational vehicle market. More >>
Abano confirms first-half profit gain
Wednesday, 21 December 2016, 1:17 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Abano Healthcare, fending off a hostile takeover from its biggest shareholder, cut 3 cents from the independent valuation it commissioned to allow for executive incentive shares while confirming a 73 percent gain in first-half ... More >>
Intueri turned down for A$6M uplift in VHF funding
Wednesday, 21 December 2016, 12:15 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Intueri Education Group says the Australian Department of Education and Training has declined its application for an A$6 million uplift in VHF funding for its Conwal unit and it has slashed its 2016 earnings guidance ... More >>
Intueri turned down for A$6M uplift
Wednesday, 21 December 2016, 12:09 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Intueri Education Group says the Australian Department of Education and Training has declined its application for an A$6 million uplift in VHF funding for its Conwal unit and it has slashed its 2016 earnings guidance ... More >>
NZ dollar briefly drops below 69 US cents
Wednesday, 21 December 2016, 11:58 am | BusinessDesk
The New Zealand dollar briefly fell below 69 US cents for the first time since June, around the time the results of the latest GlobalDairyTrade auction were posted, which showed prices fell as expected. More >>
Milford to close out new $150 mln private equity fund early
Wednesday, 21 December 2016, 11:05 am | BusinessDesk
Dec. 21 (BusinessDesk) - Milford Asset Management will close out its recently launched private equity fund earlier than planned after finding more investor interest than expected. More >>
Dairy product prices slip, stemming four straight gains
Wednesday, 21 December 2016, 7:48 am | BusinessDesk
Dec. 21 (BusinessDesk) - Dairy product prices eased at the Global Dairy Trade auction, halting four straight increases, as whole milk powder declined. More >>
Smiths City first-half profit slides 46%
Wednesday, 21 December 2016, 7:39 am | BusinessDesk
Dec. 20 (BusinessDesk) - Smiths City Group, the appliance and furniture retailer, reported a 46 percent drop in first-half profit as it faced new restructuring costs and a year-earlier gain on its Colombo St store wasn't repeated, even as underlying ... More >>
Sealegs signals global expansion plans with new name
Wednesday, 21 December 2016, 7:37 am | BusinessDesk
Dec. 20 (BusinessDesk) - Auckland-based Sealegs, which manufactures and sells amphibious boats and systems in New Zealand and overseas, today announced plans to expand globally and to change its name. More >>
NZ dollar falls to new six-month low
Wednesday, 21 December 2016, 7:35 am | BusinessDesk
Dec. 20 (BusinessDesk) - The New Zealand dollar hit fresh six-month lows today in the face of a stronger US dollar as Donald Trump was confirmed as the next US president. More >>
MARKET CLOSE: NZ shares rise led by Tegel
Wednesday, 21 December 2016, 7:33 am | BusinessDesk
Dec. 20 (BusinessDesk) - New Zealand shares rose as Tegel Group Holdings continued its rebound from last week's record low while Warehouse Group dropped after weaker earnings guidance. More >>
While you were sleeping: Record rally continues
Wednesday, 21 December 2016, 7:24 am | BusinessDesk
Dec. 21 (BusinessDesk) - Wall Street climbed to fresh records, amid the momentum of optimistic sentiment about the outlook for US economic growth and corporate profits. More >>
Dairy product prices slip, stemming four straight gains
Wednesday, 21 December 2016, 6:53 am | BusinessDesk
Dec. 21 (BusinessDesk) - Dairy product prices eased at the Global Dairy Trade auction, halting four straight increases, as whole milk powder declined. More >>
Cooperative Bank boss Bruce McLachlan to go early next year
Tuesday, 20 December 2016, 5:16 pm | BusinessDesk
Dec. 20 (BusinessDesk) - Cooperative Bank chief executive Bruce McLachlan will leave the lender early next year after choosing to take a new leadership position with another New Zealand business. More >>
Upside from Australian plans to restrict codeine sales
Tuesday, 20 December 2016, 4:54 pm | BusinessDesk
Dec. 20 (BusinessDesk) – New Zealand’s AFT Pharmaceuticals expects to benefit from news that all medicines containing codeine will be prescription-only in Australia from Feb. 1, 2018. More >>
UPDATE: Rakon shares hit 7-month high
Tuesday, 20 December 2016, 4:29 pm | BusinessDesk
Rakon shares hit their highest level in seven months after the high-tech components maker said it will raise US$10 million from Taiwan's Siward Crystal Technology, selling shares at a steep premium to repay debt while gaining a new partner with an established ... More >>
UPDATE: Warehouse shares drop 8% on 1H profit warning
Tuesday, 20 December 2016, 4:27 pm | BusinessDesk
Warehouse Group shares dropped 8 percent to $2.87 after New Zealand’s largest publicly listed retailer said profit may fall between 10-and-15 percent in the first half of its financial year on a weaker-than-expected run up to Christmas. More >>
Healthcare Partners grumbles over Grant Samuel's valuation
Tuesday, 20 December 2016, 3:34 pm | BusinessDesk
Dec. 20 (BusinessDesk) - Grant Samuel has come in for a second barracking in the space of a month with HealthCare Partners, which accused the independent adviser of plumping up the valuation of Abano Healthcare. More >>
CC cuts rate of return for monopoly electricity networks
Tuesday, 20 December 2016, 3:31 pm | BusinessDesk
Dec. 20 (BusinessDesk) - The Commerce Commission has cut the rate of return that local electricity lines networks and national grid owner Transpower can charge in its latest decisions on monopoly network pricing. More >>
Mainfreight appoints 2 women CFOs as non-executive directors
Tuesday, 20 December 2016, 3:12 pm | BusinessDesk
Dec. 20 (BusinessDesk) – Mainfreight, the transport and logistics group, said two women, Kate Parsons and Sue Tindal, will join the company as non-executive directors starting on Jan. 1. More >>
