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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 496]
Spark buys remaining stake in UFB installer Connect 8
Thursday, 1 December 2016, 2:53 pm | BusinessDesk
Dec. 1 (BusinessDesk) - Spark New Zealand, the country's biggest telecommunications company, agreed to buy the remaining half share of fibre construction business Connect 8 from its joint venture partner Vocus Communications for an undisclosed sum. More >>
NZOG board recommends sale of Kupe stake
Thursday, 1 December 2016, 1:53 pm | BusinessDesk
Dec. 1 (BusinessDesk) - New Zealand Oil & Gas has recommended shareholders support the proposed sale of the energy explorer and producer's stake in the Kupe oil and gas field, after an independent appraisal report deemed the offer was fair. More >>
NZ dollar falls as economic data, Opec cuts stoke greenback
Thursday, 1 December 2016, 12:45 pm | BusinessDesk
Dec. 1 (BusinessDesk) - The New Zealand dollar fell below 71 US cents after stronger-than-expected private payrolls and consumer spending data in the US and a surge in the price of crude oil added to expectations US inflation will accelerate, driving up interest ... More >>
Former F&P Healthcare boss wins Beacon leadership award
Thursday, 1 December 2016, 11:58 am | BusinessDesk
Nov. 30 (BusinessDesk) - Michael Daniell, the former boss and current director of Fisher & Paykel Healthcare, has won the New Zealand Shareholders Association’s 2016 Beacon Award for guiding the company from a tiny startup with a handful of staff ... More >>
Institutional investors now dominate media company ownership
Thursday, 1 December 2016, 11:11 am | BusinessDesk
Dec. 1 (BusinessDesk) - Institutional investors now dominate the ownership and governance of New Zealand media companies, according to the sixth annual update on local media ownership from the Auckland University of Technology's Journalism, Media and Democracy ... More >>
Leader Products bought by Pacific Equity Partners' Patties
Thursday, 1 December 2016, 10:18 am | BusinessDesk
Nov. 30 (BusinessDesk) - Leader Products, the New Zealand frozen convenience food manufacturer has been bought by Australian food maker Patties. No price has been disclosed. More >>
Big guns blindside start-up news business
Thursday, 1 December 2016, 9:26 am | BusinessDesk
Nov. 30 (BusinessDesk) - The country's two largest news publishers blindsided a start-up competitor involving two of the country's most experienced journalists, publishing a marketing pitch for a revamped Newsroom service as part of their submissions supporting ... More >>
Puhoi to Warkworth road consortium gets OIO approval
Thursday, 1 December 2016, 9:12 am | BusinessDesk
Nov. 30 (BusinessDesk) - The Overseas Investment Office has approved the sale of 1,700 hectares of land to the consortium which is to build and maintain the Puhoi to Warkworth road, connecting Auckland to Northland. More >>
Mike Petersen convinced "something will come out of TPP"
Thursday, 1 December 2016, 9:03 am | BusinessDesk
Nov. 30 (BusinessDesk) - New Zealand's special agricultural trade envoy, Mike Petersen, remains convinced that something will come out of the Trans-Pacific Partnership trade and investment agreement. More >>
Wheeler sees role for debt-to-income restrictions
Thursday, 1 December 2016, 9:01 am | BusinessDesk
Nov. 30 (BusinessDesk) - Reserve Bank governor Graeme Wheeler says the central bank would look to introduce debt-to-income (DTI) lending restrictions if it saw house price inflation driven by credit, adding a lever to its macro-prudential toolkit ... More >>
NZ dollar rises as greenback's rally takes a pause
Thursday, 1 December 2016, 8:57 am | BusinessDesk
Nov. 30 (BusinessDesk) - The New Zealand dollar rose as the US dollar index extended its slide from a 16-year high, with the greenback's direction said to be driven by month-end grooming by fund managers and a market preparing for US payrolls data on ... More >>
Airlines expected to rake in US$67.4 billion globally
Thursday, 1 December 2016, 8:55 am | BusinessDesk
Nov. 30 (BusinessDesk) - The amount airlines make from charging travellers for extras such as in-flight food and drink or selecting a seat with more leg room, is forecast to rise by 13.8 percent this year to US$67.4 billion. More >>
NZ shares down, Orion fall continues while Spark, A2 gain
Thursday, 1 December 2016, 8:53 am | BusinessDesk
Nov. 30 (BusinessDesk) - New Zealand shares dipped with Orion Health Group extending its losses from Monday, while Spark New Zealand and A2 Milk Co gained. More >>
While you were sleeping: Oil surges on OPEC deal
Thursday, 1 December 2016, 7:52 am | BusinessDesk
Dec. 1 (BusinessDesk) - Oil rallied, as did energy stocks, after OPEC agreed on details to cut output for the first time in eight years as it aims to stem a global glut. More >>
NZ business confidence slips as credit availability tightens
Wednesday, 30 November 2016, 5:38 pm | BusinessDesk
Nov. 30 (BusinessDesk) - New Zealand business confidence fell in November as pessimistic manufacturers offset upbeat farmers, construction firms and service companies. More >>
Godfrey Hirst loses bid to halt Cavalier's domination
Wednesday, 30 November 2016, 5:00 pm | BusinessDesk
Nov. 30 (BusinessDesk) - Australian-owned carpet maker Godfrey Hirst has lost a bid to overturn plans backed by rival Cavalier Corp to create a monopoly in New Zealand wool scouring. More >>
Update: New licensing regime for insolvency practitioners
Wednesday, 30 November 2016, 4:58 pm | BusinessDesk
Commerce and Consumer Affairs Minister Paul Goldsmith, who is introducing a new licensing regime for insolvency practitioners, said between 10 and 20 percent of them fall short of reasonable expectations. More >>
Insolvency practitioners to be licensed under new regime
Wednesday, 30 November 2016, 3:11 pm | BusinessDesk
Nov. 30 (BusinessDesk) - The government is introducing a long-awaited licensing regime for insolvency practitioners after finding the current system “too loose” and enabling dishonesty and incompetence. More >>
Cavalier shares halted pending Appeal Court judgment
Wednesday, 30 November 2016, 2:34 pm | BusinessDesk
Nov. 30 (BusinessDesk) - Cavalier Corp shares were halted from trading as the New Zealand carpet maker awaits the outcome of an appeal against a High Court ruling which gave the green light to the merger of its wool scouring operations. More >>
Spark NZ establishes $125mn facility with Westpac
Wednesday, 30 November 2016, 2:31 pm | BusinessDesk
Nov. 30 (BusinessDesk) - Spark New Zealand has established a $125 million committed revolving loan with Westpac to refinance its debt, it said in a statement to the NZX. More >>
