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BusinessDesk - Latest News [Page 489]

Primary industry revenue to fall in 2017, MPI says

Wednesday, 14 December 2016, 9:08 am | BusinessDesk

Dec. 13 (BusinessDesk) - The Ministry for Primary Industries has warned revenue from the sector is likely to fall by 0.8 percent in 2017 to $36.7 billion, mainly due to a slump in two sectors: meat and wool as well as arable. More >>

Fonterra chairman Wilson appeals for patience on Beingmate

Wednesday, 14 December 2016, 9:05 am | BusinessDesk

Dec. 13 (BusinessDesk) - Fonterra Cooperative Group chairman John Wilson expects it will take another one-to-two years before there’s clarity on how its Chinese partner Beingmate Baby & Child will fare under new regulations governing infant formula ... More >>

Fonterra to build $240 mln mozzarella plant

Wednesday, 14 December 2016, 9:04 am | BusinessDesk

Dec. 13 (BusinessDesk) - Fonterra will build a $240 million mozzarella plant in South Canterbury, making it the largest producer of natural mozzarella in the Southern Hemisphere. More >>

Private insurers to take lead on Kaikoura quake claims

Wednesday, 14 December 2016, 9:01 am | BusinessDesk

Dec. 13 (BusinessDesk) - Insurers and the Earthquake Commission have cut a deal where the private companies will take the lead in dealing with claims from the Kaikoura earthquake, acting as agents for the state-owned disaster insurer in an effort to ... More >>

Sharemilkers still feeling pressure from lenders

Wednesday, 14 December 2016, 8:51 am | BusinessDesk

Dec. 13 (BusinessDesk) - A fifth of share milkers who responded to a Federated Farmers survey said they were coming under pressure from their bank on their mortgage, with 13 percent expressing dissatisfaction with their lender. More >>

Kiwi Property emerges with rival deal to take NPT management

Wednesday, 14 December 2016, 8:50 am | BusinessDesk

Dec. 13 (BusinessDesk) - Kiwi Property Group, the country's biggest listed property investor, has put forward a deal to take over the management of NPT that would see it sell two Wellington properties to the smaller company, and has won the backing ... More >>

MARKET CLOSE: NZ shares drop, Heartland and Ryman fall

Wednesday, 14 December 2016, 8:46 am | BusinessDesk

Dec. 13 (BusinessDesk) - New Zealand shares continued to drift with Heartland Bank and Ryman Healthcare dropping, while Tower and Kiwi Property Group gained More >>

While you were sleeping: Record ride continues

Wednesday, 14 December 2016, 7:57 am | BusinessDesk

Dec. 14 (BusinessDesk) - Wall Street climbed to fresh records, again, while US Treasuries slid as investors geared up for the Federal Reserve’s first interest rate hike in a year. More >>

Hallenstein Glasson names Mark Goddard as new CEO

Tuesday, 13 December 2016, 3:50 pm | BusinessDesk

Dec. 13 (BusinessDesk) - Hallenstein Glasson has named Mark Goddard as its next chief executive, replacing long-serving Graeme Popplewell who will end 46 years at the company at the end of the year . More >>

Canadian pension fund buys into AMP Capital-run NZ property

Tuesday, 13 December 2016, 2:57 pm | BusinessDesk

Dec. 13 (BusinessDesk) - The Canada Pension Plan Investment Board, which invests some C$300 billion of assets to help fund the North American nation's pension plan, has bought half of a NZ$1.1 billion property portfolio managed by Australasian fund ... More >>

NZ manufacturing sales rise 2.1% in third quarter

Tuesday, 13 December 2016, 2:56 pm | BusinessDesk

Dec. 13 (BusinessDesk) - New Zealand manufacturing sales activity rose in the third quarter, reflecting a rebound in petroleum and coal products, meat and dairy and chemicals. More >>

Electricity Authority proposes softer grid price reform

Tuesday, 13 December 2016, 1:58 pm | BusinessDesk

Dec. 13 (BusinessDesk) - The Electricity Authority is softening its proposed reforms for national grid payments and suggesting that even where its proposals raise power prices, other reforms under consideration by the Commerce Commission will mostly ... More >>

Newell Brands agrees to buy NZ's Sistema

Tuesday, 13 December 2016, 12:53 pm | BusinessDesk

Dec. 13 (BusinessDesk) - Newell Brands has agreed to buy Sistema Plastics from its New Zealand owner for $660 million, one of two businesses the New York Stock Exchange-listed consumer products company is acquiring as it seeks faster-growing assets. More >>

Kiwi Property emerges with rival deal to take NPT management

Tuesday, 13 December 2016, 12:49 pm | BusinessDesk

Heartland raises $20 mln from institutions at 4.6% discount

Tuesday, 13 December 2016, 12:47 pm | BusinessDesk

Dec. 13 (BusinessDesk) - Heartland Bank's trading halt has been lifted after the bank raised $20 million from institutional investors at $1.46 per share, a 4.6 percent discount to the last trading price. More >>

OceanaGold sees increased gold production in 2017

Tuesday, 13 December 2016, 12:06 pm | BusinessDesk

Dec. 13 (BusinessDesk) - OceanaGold Corp, which is set to quit its NZX listing at the end of the year, expects increased gold production at a cheaper cash cost in 2017 as its Haile gold mine in the US comes on stream, providing higher margins. More >>