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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 5]
NZ dollar pares losses after weak US manufacturing data
Wednesday, 2 October 2019, 11:10 am | BusinessDesk
The New Zealand dollar pared some losses on US dollar weakness after soft manufacturing data there overnight. More >>
NZ dollar largely unchanged as RBA cuts cash rate
Tuesday, 1 October 2019, 9:44 pm | BusinessDesk
Oct. 1 (BusinessDesk) - The New Zealand dollar was largely unchanged after the Reserve Bank of Australia cut the target cash rate a quarter-point to 0.75 percent as expected. More >>
MARKET CLOSE: Investor demand continues for yield stocks
Tuesday, 1 October 2019, 9:43 pm | BusinessDesk
Oct. 1 (BusinessDesk) - NZ shares followed international markets higher as the low-interest-rate environment continues to see investor demand for yield stocks. More >>
NZ Super Fund wanted govt's Venture Capital Fund siloed
Tuesday, 1 October 2019, 9:01 pm | BusinessDesk
Oct. 1 (BusinessDesk) - The Guardians of the New Zealand Superannuation Fund opposed the government's Venture Capital Fund being part of the Super Fund and wanted it established as a separate vehicle with its own investment mandate, chief executive ... More >>
Tatua gears up for looming infrastructure investment
Tuesday, 1 October 2019, 4:34 pm | BusinessDesk
Oct. 1 (BusinessDesk) - Tatua Cooperative Dairy notched up record revenue and earnings in the latest season, although it will hold on to a greater share of that income to pay for infrastructure upgrades. More >>
RBNZ will revisit all bank capital proposals
Tuesday, 1 October 2019, 3:38 pm | BusinessDesk
Oct. 1 (BusinessDesk) - The Reserve Bank is reviewing all its key proposals in light of the critique by the three independent reviewers and the submissions before announcing its final decisions in early December, says deputy governor Geoff Bascand. More >>
UPDATE: 8 Rivers CCS project in $60m capital raise
Tuesday, 1 October 2019, 3:27 pm | BusinessDesk
Oct. 1 (BusinessDesk) - The promoter of a $4 billion carbon capture and storage project that would establish a New Zealand fertiliser export industry has abandoned its bid for government support and is raising $60 million privately to advance the initiative. More >>
NZ dollar hits 4-year low
Tuesday, 1 October 2019, 3:05 pm | BusinessDesk
Oct. 1 (BusinessDesk) - The New Zealand dollar hit a four-year low as the greenback was buoyed when concerns over the ongoing US-China trade war were allayed by the White House playing down reports that it was considering de-listing Chinese firms ... More >>
Rural land sale cleared to expand Bathurst's coal mine
Tuesday, 1 October 2019, 2:54 pm | BusinessDesk
Oct. 1 (BusinessDesk) - Bathurst Resources has been cleared to buy a 31.5 hectare rural "lifestyle block" to extend its Canterbury coal mining operations just five months after Land Information Minister Eugenie Sage blocked expansion of a gold mine ... More >>
Deepening business gloom likely to push annual GDP below 1%
Tuesday, 1 October 2019, 2:06 pm | BusinessDesk
Oct. 1 (BusinessDesk) - Businesses continued to sink deeper into gloom during the September quarter and that will likely shave annual GDP growth to below 1 percent, according to the New Zealand Institute of Economic Research's latest quarterly survey ... More >>
StretchSense sold to mystery Kiwi owners
Tuesday, 1 October 2019, 1:51 pm | BusinessDesk
Futuristic textile company StretchSense has been sold to a new Kiwi owner, the firm’s administrators say. More >>
8 Rivers carbon-capture project in $60m capital-raise
Tuesday, 1 October 2019, 1:20 pm | BusinessDesk
Oct. 1 (BusinessDesk) - The promoter of a $4 billion carbon capture and storage project that would establish a New Zealand fertiliser export industry has abandoned its bid for government support and is raising $60 million privately to advance the ... More >>
Experts largely support RBNZ's bank capital proposals
Tuesday, 1 October 2019, 1:16 pm | BusinessDesk
Oct. 1 (BusinessDesk) - The three independent experts' critiques of the Reserve Bank's bank capital proposals are largely supportive with the British expert, in particular, demolishing the commercial banks' complaints that the central bank wants them to ... More >>
Kathmandu to buy Rip Curl for $368m
Tuesday, 1 October 2019, 1:15 pm | BusinessDesk
Oct. 1 (BusinessDesk) - Kathmandu Holdings will pay about $368 million to buy surf brand Rip Curl to create a billion-dollar revenue retailer, which it says will add at least 10 percent to earnings per share. More >>
MARKET CLOSE: Firm start to the week
Monday, 30 September 2019, 8:53 pm | BusinessDesk
Sept. 30 (BusinessDesk) - New Zealand shares edged higher today led by A2 Milk, while retirement village stocks were among the day’s gainers. More >>
NZ dollar falls as businesses get gloomier
Monday, 30 September 2019, 8:41 pm | BusinessDesk
Sept. 30 (BusinessDesk) - The New Zealand dollar was weaker after business pessimism grew even deeper in the latest ANZ Bank monthly survey and the gloomy tone was compounded after official Chinese data showed manufacturing contracted again in September. More >>
Reality needed on pace of low-carbon transition - Mackenzie
Monday, 30 September 2019, 5:34 pm | BusinessDesk
Sept. 30 (BusinessDesk) - Governments and industry need to be more upfront with consumers about how long the transition to a lower-carbon world is going to take, a visiting energy expert says. More >>
Business confidence slips to new 10-year low in September
Monday, 30 September 2019, 4:34 pm | BusinessDesk
Sept. 30 (BusinessDesk) - Business confidence slipped further in September and the central bank will be disappointed its 50 basis point rate cut in August doesn't appear to be having much impact, ANZ Bank said in its monthly business outlook survey. More >>
RBNZ board says bank will require more resources
Monday, 30 September 2019, 4:18 pm | BusinessDesk
Sept. 30 (BusinessDesk) - The Reserve Bank of New Zealand's board of directors lauded the bank and its governor for navigating a period of "comprehensive change" and sticking to its funding agreement but said it is clear additional resources will be required ... More >>
Gentrack downgrades profit guidance again
Monday, 30 September 2019, 2:00 pm | BusinessDesk
The utilities software provider now says earnings before interest, tax, depreciation and amortisation for the year ending today will be between $25-26 million. More >>
