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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 488]
NZ dollar tumbles as Fed raises rates
Thursday, 15 December 2016, 11:38 am | BusinessDesk
Dec. 15 (BusinessDesk) - The New Zealand dollar fell after the Federal Reserve raised its benchmark interest rate and signalled a faster pace of hikes in 2017 to allow for a bigger-spending Trump administration. More >>
Kiwi Property/NPT deal gives scope for Sylvia Park
Thursday, 15 December 2016, 8:41 am | BusinessDesk
Auckland-based NPT had been in a battle with major shareholder Augusta Capital, with Augusta seeking to take control of NPT's board and for NPT to buy three buildings for $329 million. That dispute had been wending its way through the courts because ... More >>
Intueri shares slump 25% to record low of 3 cents
Thursday, 15 December 2016, 8:38 am | BusinessDesk
Dec. 14 (BusinessDesk) - Intueri Education Group shares slumped 25 percent to a record low of 3 cents amid signs Australian investors are trimming their holdings ahead of the private education provider's delisting from the ASX next month. More >>
Intueri shares slump 25% to record low of 3 cents
Thursday, 15 December 2016, 8:37 am | BusinessDesk
Dec. 14 (BusinessDesk) - Intueri Education Group shares slumped 25 percent to a record low of 3 cents amid signs Australian investors are trimming their holdings ahead of the private education provider's delisting from the ASX next month. More >>
Sanford moves to restrict foreign shareholders
Thursday, 15 December 2016, 8:36 am | BusinessDesk
Dec. 14 (BusinessDesk) - Sanford, the fishing company which counts the Goodfellow family as a cornerstone investor, has asked shareholders to vote for a constitutional change so it can restrict the level of foreign ownership to 22.5 percent to avoid ... More >>
Veritas to ditch Nosh by the end of March
Thursday, 15 December 2016, 8:35 am | BusinessDesk
Dec. 14 (BusinessDesk) - Veritas Investments will wind up its unprofitable Nosh supermarket business to keep in the good graces of its lender, ANZ Bank New Zealand. More >>
Craigs recommends Hellaby shareholders sell to Bapcor
Thursday, 15 December 2016, 8:33 am | BusinessDesk
Dec. 14 (BusinessDesk) - Craigs Investment Partners has written to its partners recommending that shareholders in Hellaby Holdings accept the offer from Bapcor at $3.60 a share. More >>
While you were sleeping: Fed hikes, signals more ahead
Thursday, 15 December 2016, 8:33 am | BusinessDesk
Dec. 15 (BusinessDesk) - Wall Street and US Treasuries moved lower, while the greenback strengthened after the Federal Reserve increased its key interest rate for the first time in a year and signalled an accelerating pace of increases in next year’s borrowing ... More >>
NZ dollar rises above 72 US cents as greenback slips
Thursday, 15 December 2016, 8:22 am | BusinessDesk
Dec. 14 (BusinessDesk) - The New Zealand dollar rose above 72 US cents as the greenback weakened before the Federal Reserve's latest policy statement, which is expected to deliver a long-heralded rate hike in the US. More >>
NZ shares fall, Sky TV drops after profit warning
Thursday, 15 December 2016, 8:21 am | BusinessDesk
Dec. 14 (BusinessDesk) - New Zealand shares dropped after Sky Network Television gave a profit warning, while A2 Milk Co extended its decline on uncertainty about the Chinese infant formula market. More >>
SKY TV issues profit warning, shares fall 8%
Wednesday, 14 December 2016, 5:34 pm | BusinessDesk
Dec. 14 (BusinessDesk) - Sky Network Television, which is awaiting a decision from the Commerce Commission on a proposed merger with Vodafone New Zealand, cut its 2017 earnings guidance citing rising content costs, and falling revenue and subscribers. ... More >>
Orion Health shares rise on new deal with existing US client
Wednesday, 14 December 2016, 5:19 pm | BusinessDesk
Shares in outgoing NZX 50 member Orion Health have risen by 2.3 percent after the IT healthcare business said it had signed a new, expanded agreement with an American client. More >>
Geneva Finance lifts first-half profit 56%
Wednesday, 14 December 2016, 4:29 pm | BusinessDesk
Dec. 14 (BusinessDesk) - Geneva Finance, which paid a maiden dividend earlier this year, lifted first-half profit 56 percent on credit growth in its lending business and higher premium income from its insurance business. More >>
NZOG considers exit from Tui
Wednesday, 14 December 2016, 3:22 pm | BusinessDesk
Dec. 14 (BusinessDesk) - New Zealand Oil & Gas says it's considering an offer to buy its 27.5 percent interest in the Tui oil field after Tamarind, an energy company backed by Blackstone Energy Partners, agreed to buy the 57.5 percent stake held by ... More >>
UDC deposits shrink as ANZ ownership question hovers
Wednesday, 14 December 2016, 2:41 pm | BusinessDesk
Dec. 14 (BusinessDesk) - UDC Finance's deposits shrank in the latest financial year as the question mark hanging over Australia & New Zealand Banking Group's ownership of the country's biggest finance company saw a reduction in investments by external ... More >>
Veritas shares halted pending announcement
Wednesday, 14 December 2016, 1:34 pm | BusinessDesk
Dec. 14 (BusinessDesk) - Veritas Investments, the food and beverage investor under pressure to improve the performance of its businesses, is in a share trading halt ahead of an announcement by the Auckland-based company. More >>
Abano 1H earnings beat guidance on growing dental network
Wednesday, 14 December 2016, 12:23 pm | BusinessDesk
Dec. 14 (BusinessDesk) - Abano Healthcare beat guidance as it lifted first-half earnings 62 percent from a year earlier on an expanding dental network, giving the board confidence in the current strategy as they rejected a partial takeover bid by dissident shareholders ... More >>
NZ dollar little changed vs greenback
Wednesday, 14 December 2016, 11:35 am | BusinessDesk
Dec. 14 (BusinessDesk) - The New Zealand dollar was little changed against the US dollar and reached its highest level this year against the yen ahead of the outcome of the Federal Open Market Committee's two-day meeting which will show how quickly ... More >>
'Shameful' wait for KiwiSaver fee disclosure regime
Wednesday, 14 December 2016, 9:11 am | BusinessDesk
Dec. 13 (BusinessDesk) - The government's announcement that KiwiSaver providers have until 2018 to start providing transparent information about all the fees they charge is a "shameful" demonstration of the lobbying power of New Zealand's banks, the chief ... More >>
NZ dollar gains with commodity prices
Wednesday, 14 December 2016, 9:10 am | BusinessDesk
Dec. 13 (BusinessDesk) - The New Zealand dollar gained with prices of commodities as traders awaited the results of the Federal Reserve's two-day policy meeting that will chart a course for global interest rates. More >>
