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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 493]
Bapcor says $3.60 a share is final offer for Hellaby
Wednesday, 7 December 2016, 8:49 am | BusinessDesk
Dec. 6 (BusinessDesk) - Bapcor has accused the independent directors of Hellaby Holdings of overreaching in their guidance to shareholders after they sought a further dividend payment before they'd back a sweetened takeover offer. More >>
Proposed Ngawha wood mill mothballed by government
Wednesday, 7 December 2016, 8:48 am | BusinessDesk
Dec. 6 (BusinessDesk) - Plans to build a new wood processing facility at Ngawha in Northland have been put on ice by Northland Inc, New Zealand Trade and Enterprise and the Ministry for Primary Industries. More >>
Shanghai Maling: controlling stake in Silver Fern Farms
Wednesday, 7 December 2016, 8:47 am | BusinessDesk
Dec. 6 (BusinessDesk) - China's Shanghai Maling has completed its purchase of a controlling stake in Silver Fern Farms. More >>
NZ shares rise, market unfazed by PM change
Wednesday, 7 December 2016, 8:35 am | BusinessDesk
Dec. 6 (BusinessDesk) - New Zealand shares rose, led by Kathmandu Holdings and Fletcher Building, with investor confidence not dented by political turbulence following Prime Minister John Key announcing his intention to resign yesterday. More >>
While you were sleeping: Wall St inches higher
Wednesday, 7 December 2016, 8:00 am | BusinessDesk
Dec. 7 (BusinessDesk) - Wall Street eked out gains, bolstered by bank stocks, while oil prices slid for the first time since OPEC’s agreement to lower output. More >>
Dairy product prices increase for fourth straight auction
Wednesday, 7 December 2016, 7:09 am | BusinessDesk
Dec. 7 (BusinessDesk) - Dairy product prices increased at the Global Dairy Trade auction, gaining for the eighth time in nine auctions, amid expectations for decreasing supply. More >>
$300M benefit to consumers touted from subsidy removal
Tuesday, 6 December 2016, 3:48 pm | BusinessDesk
Dec. 6 (BusinessDesk) - The Electricity Authority is ending subsidies to power stations that are embedded in local electricity networks rather than connected to the national grid in a move the regulator says will save consumers around $25 million to $35 million ... More >>
Foreign ownership of NZ sharemarket hits six year high
Tuesday, 6 December 2016, 3:38 pm | BusinessDesk
Dec. 6 (BusinessDesk) - Foreign ownership of companies listed on the New Zealand sharemarket has risen to 36.3 percent, its highest level since June 2010, according to JBWere’s Foreign Ownership Survey. More >>
Local Government NZ backs national tourism levy
Tuesday, 6 December 2016, 2:52 pm | BusinessDesk
Dec. 6 (BusinessDesk) - New Zealand's spending on tourism infrastructure needs to increase and it isn't realistic to expect ratepayers to foot the bill, especially in smaller towns reliant on tourists such as Franz Josef, says Lawrence Yule, president ... More >>
Kiwi startup raises $620,000 to expand in North America
Tuesday, 6 December 2016, 1:38 pm | BusinessDesk
Dec. 6 (BusinessDesk) - New Zealand cloud-based software startup Datagate has raised $620,000 so far in an over-subscribed capital raise supported by existing and new investors which will be used to expand its sales team as it pushes into North America ... More >>
SkyCity names John Mortensen as chief operating officer
Tuesday, 6 December 2016, 1:27 pm | BusinessDesk
Dec. 6 (BusinessDesk) - SkyCity Entertainment Group, New Zealand's dominant casino company, named John Mortensen to the new role of group chief operating officer. More >>
NZ government accounts show smaller-than-expected deficit
Tuesday, 6 December 2016, 1:25 pm | BusinessDesk
Dec. 6 (BusinessDesk) - The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More >>
Scales raises 2016 annual earnings forecast
Tuesday, 6 December 2016, 1:13 pm | BusinessDesk
Dec. 6 (BusinessDesk) - Scales Corp, the best-performing stock on the S&P/NZX 50 Index this year, raised its forecast for annual earnings with the apple company citing improvement across all its divisions and a standout performance from its horticulture ... More >>
$300M for consumers from embedded generation subsidy removal
Tuesday, 6 December 2016, 1:06 pm | BusinessDesk
Dec. 6 (BusinessDesk) - The Electricity Authority is ending subsidies to power stations that are embedded in local electricity networks rather than connected to the national grid in a move the regulator says will save consumers around $300 million a year. More >>
NZ dollar recovers ground after surprise Key resignation
Tuesday, 6 December 2016, 11:57 am | BusinessDesk
Dec. 6 (BusinessDesk) - The New Zealand dollar regained the ground shed after the shock resignation of Prime Minister John Key as traders await tonight's GlobalDairyTrade auction that's expected to produce another increase in milk powder prices. More >>
UPDATE: Hellaby's independent directors want dividend
Tuesday, 6 December 2016, 10:00 am | BusinessDesk
Dec. 5 (BusinessDesk) - The independent directors of Hellaby Holdings said they won't support Bapcor's sweetened takeover unless it also includes a dividend payment that would use up imputation credits. More >>
While you were sleeping: Dow hits record high
Tuesday, 6 December 2016, 7:39 am | BusinessDesk
Dec. 6 (BusinessDesk) - Wall Street rose, with the Dow climbing to a fresh record, as did oil prices as investors chose to focus on the prospect of an improving US economy and shook off the results of an Italian referendum. More >>
English refuses to say if will stand for PM
Monday, 5 December 2016, 10:10 pm | BusinessDesk
Dec. 5 (BusinessDesk) - Deputy prime minister Bill English has paid tribute to John Key, but refused to confirm if he would seek to replace him in the top job. More >>
Synthase Biotech raises $800,000 for groundbreaking research
Monday, 5 December 2016, 10:07 pm | BusinessDesk
Dec. 5 (BusinessDesk) - Synthase Biotech, set up last year to commercialise a plant-based enzyme that stops fats going rancid, has raised $800,000 in its first external capital raising. More >>
Lobby group loses challenge to state housing sale
Monday, 5 December 2016, 10:03 pm | BusinessDesk
Dec. 5 (BusinessDesk) - The High Court has dismissed a challenge by a lobby group against the government’s plans to sell 1124 state houses in Tauranga to a private provider. More >>
