Scoop has an Ethical Paywall
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 487]
Hellaby tells shareholders to reject Bapcor offer
Friday, 16 December 2016, 1:49 pm | BusinessDesk
Dec. 16 (BusinessDesk) - Hellaby Holdings, which is engaged in a battle to fend off unwanted suitor Bapcor, has advised shareholders not to accept a revised takeover offer, provided first-half guidance for profit of up to $39.5 million, and promised ... More >>
NZ dollar extends decline on plans for faster US rate hikes
Friday, 16 December 2016, 11:41 am | BusinessDesk
Dec. 16 (BusinessDesk) - The New Zealand dollar extended its decline after this week's Federal Reserve decision to hike interest rates and project further increases in 2017. More >>
Moana NZ posts 22% gain in full-year profit
Friday, 16 December 2016, 8:59 am | BusinessDesk
Dec. 15 (BusinessDesk) - Moana New Zealand, the rebranded Aotearoa Fisheries that holds a half stake in Sealord Group, posted a 22 percent gain in full-year profit allowing the company to increase its dividend for its iwi owners. More >>
NZ dairy farm prices recover as sales volumes improve
Friday, 16 December 2016, 8:57 am | BusinessDesk
Dec. 15 (BusinessDesk) - New Zealand farm sales rose 7.4 percent in the three months ended Nov. 30 and there is room for cautious optimism in the rural market, according to Real Estate Institute data. More >>
Paymark boss resigns as sales process drags on
Friday, 16 December 2016, 8:56 am | BusinessDesk
Dec. 15 (BusinessDesk) - Paymark chief executive Mark Rushworth has resigned from the electronic payments firm owned by the country's four major banks as the sale process kicked off in February looks set to drag into 2017. More >>
Insurer Youi fined $320,000 for misleading sale practises
Friday, 16 December 2016, 8:54 am | BusinessDesk
South African-owned insurer Youi has been sentenced to a $320,000 fine out of a potential maximum penalty of $9 million in the Auckland District Court today after receiving hefty discounts for agreeing to plead guilty to 15 representative charges relating ... More >>
NZ dollar tumbles, swaps, bond rates rise
Friday, 16 December 2016, 8:30 am | BusinessDesk
Dec. 15 (BusinessDesk) - The New Zealand dollar shed more than 1 US cent while bond and swap rates rose after the Federal Reserve raised its benchmark interest rate and signalled a faster pace of hikes in 2017. More >>
MARKET CLOSE: NZ shares down, Tegel, Orion, Sky TV suffer
Friday, 16 December 2016, 8:25 am | BusinessDesk
Dec. 15 (BusinessDesk) - New Zealand shares fell again, led lower by Tegel Group Holdings which cut its guidance, Orion Health Group and Sky Network Television. More >>
While you were sleeping: Wall St, greenback rally
Friday, 16 December 2016, 7:53 am | BusinessDesk
Dec. 16 (BusinessDesk) - Wall Street climbed, as did the US dollar, a day after the Federal Reserve signalled a steeper path for interest rate increases, offering further optimism about the outlook for the US economy and corporate profits. More >>
New Australian life sciences fund could benefit NZ
Thursday, 15 December 2016, 5:25 pm | BusinessDesk
Dec. 15 (BusinessDesk) - Australia’s largest life science venture fund, the Medical Research Commercialisation Fund, just got bigger with the Australian government’s launch of a A$500 million Biomedical Translation Fund aimed at making the country ... More >>
Oil and gas exploration evaporates in 2016 block offer
Thursday, 15 December 2016, 4:02 pm | BusinessDesk
Dec. 15 (BusinessDesk) - Todd Corp has emerged with the only new oil and gas exploration permit after the government's Block Offer 2016, which had invited bids covering 525,515 square kilometres, including four offshore and one onshore area. More >>
UPDATE: Tegel shares sink to record low
Thursday, 15 December 2016, 3:37 pm | BusinessDesk
Dec. 15 (BusinessDesk) - Tegel shares sank to the lowest they've been since the poultry firm listed on the NZX in May after the company said it would miss its forecast earnings as a glut of chicken kept a lid on domestic prices and rising freight costs squeeze ... More >>
NZ value of residential building put in place rises 4.3%
Thursday, 15 December 2016, 3:08 pm | BusinessDesk
Dec. 15 (BusinessDesk) - The value of residential building work put in place rose at a slower pace in the third quarter of 2016, reflecting a more modest pace in Auckland and Canterbury. More >>
Tax agent sentenced to 4 years jail over fraud
Thursday, 15 December 2016, 2:38 pm | BusinessDesk
Dec. 15 (BusinessDesk) - A tax agent has been sentenced to four years imprisonment after stealing client money and filing false GST and income tax returns. More >>
Higher dairy prices won't bolster regional NZ overnight
Thursday, 15 December 2016, 2:35 pm | BusinessDesk
Dec. 15 (BusinessDesk) - The recent pick up in dairy prices back to profitable levels may take some time to flow through New Zealand's economy as farmers focus on paying down debt following the prolonged downturn, says Primary Industries Minister Nathan ... More >>
NZ manufacturing softer in November: PMI
Thursday, 15 December 2016, 2:22 pm | BusinessDesk
Dec. 15 (BusinessDesk) - New Zealand manufacturing activity softened for the second month in a row in November while holding above its long-term average. More >>
Pushpay says it has nothing to disclose
Thursday, 15 December 2016, 2:20 pm | BusinessDesk
Dec. 15 (BusinessDesk) - Pushpay Holdings, the mobile payments app developer, says it has nothing material to tell the market after its share price dropped 27 percent this month, triggering a price enquiry from the NZX. More >>
Government to spend up to $2 bln restoring Kaikoura route
Thursday, 15 December 2016, 2:05 pm | BusinessDesk
Dec. 15 (BusinessDesk) - The government expects to spend as much as $2 billion rebuilding the coastal route north and south of the stranded North Canterbury town of Kaikoura, and wants access restored within a year. More >>
Restaurant Brands lifts 3Q sales by 35%
Thursday, 15 December 2016, 1:04 pm | BusinessDesk
Dec. 15 (BusinessDesk) - Restaurant Brands New Zealand, the fast-food retailer, lifted sales 35 percent in the third quarter, with most of the increase coming from the 42 Australian KFC stores the company bought in April. More >>
Tegel first-half earnings fall 4% on chicken glut
Thursday, 15 December 2016, 1:03 pm | BusinessDesk
Dec. 15 (BusinessDesk) - Tegel Group Holdings, the poultry group taken public by private equity firm Affinity Equity Partners in April, posted a 4 percent decline in first-half earnings as margins were squeezed by a glut of chicken keeping domestic ... More >>
