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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 505]
$20 bln defence plan: new frigates, camp spruce-ups, cyber
Wednesday, 16 November 2016, 5:04 pm | BusinessDesk
Nov. 16 (BusinessDesk) - New Zealand's defence plans out to 2030 include replacing the two Anzac-class frigates, adding transport aircraft, the possible replacement of armoured vehicles, new inshore capabilities, and a spruce-up for camps and bases. More >>
'Nil-all draw' in NZX vs Ralec verdict
Wednesday, 16 November 2016, 4:14 pm | BusinessDesk
Nov. 16 (BusinessDesk) - Neither Ralec nor NZX will get a payout from their seven-year High Court dispute, with Justice Robert Dobson ruling that both sides' claims were valid but neither could demonstrate a financial impact if things had been different. More >>
EQC defends Christchurch repairs
Wednesday, 16 November 2016, 4:03 pm | BusinessDesk
Nov. 16 (BusinessDesk) - Earthquake Commission chairman Maarten Wevers has defended building repairs in Christchurch following the 2010 and 2011 quakes in response to a petition for a royal commission of inquiry into defective work. More >>
Kiwi managed funds flock to discuss going tobacco free
Wednesday, 16 November 2016, 3:52 pm | BusinessDesk
Nov. 16 (BusinessDesk) - Bronwyn King, the Australian doctor leading a global push to encourage fund managers to exclude tobacco stocks, said she’s had approaches from six major funds in New Zealand interested in making the shift. More >>
Wiri prison operator narrows full-year loss
Wednesday, 16 November 2016, 3:42 pm | BusinessDesk
Nov. 16 (BusinessDesk) - SecureFuture Wiri Holdings, which has the contract for the Auckland South Corrections Facility, narrowed its full-year loss while managing to double its dividend payment. More >>
NZOG shares jump to 20-month high
Wednesday, 16 November 2016, 3:02 pm | BusinessDesk
NZOG shares jump to 20-month high on Kupe sale, floats partnership for Shell assets More >>
Genesis Energy agrees to buy NZOG's stake in Kupe field
Wednesday, 16 November 2016, 1:17 pm | BusinessDesk
Nov. 16 (BusinessDesk) - Genesis Energy will buy New Zealand Oil & Gas's stake in the Kupe gas and oil field for $168 million, which the country's biggest electricity retailer expects will immediately boost annual earnings. More >>
Investore Property's maiden first-half result as standalone
Wednesday, 16 November 2016, 1:07 pm | BusinessDesk
Nov. 16 (BusinessDesk) - Investore Property, the property investor carved out of its manager Stride Property earlier this year, posted its maiden first-half results and signalled annual dividends are still on track to meet expectations. More >>
IkeGPS first-half loss widens as Stanley rollout delayed
Wednesday, 16 November 2016, 12:55 pm | BusinessDesk
Nov. 16 (BusinessDesk) - IkeGPS, the laser measurement toolmaker, posted a wider first-half loss and said a supply-chain glitch for the Stanley Smart Measure Pro meant some sales wouldn't be recognised until the second half. More >>
NZ dollar falls as US data lifts greenback
Wednesday, 16 November 2016, 11:55 am | BusinessDesk
Nov. 16 (BusinessDesk) - The New Zealand dollar fell as stronger-than-expected US retail sales and manufacturing data helped extend the greenback's rally, while gains in dairy prices overnight weren't enough to offset offshore influences on the kiwi. More >>
NZ dollar gains as US bond rally runs out of puff in Asia
Wednesday, 16 November 2016, 10:42 am | BusinessDesk
Nov. 15 (BusinessDesk) - The New Zealand dollar gained as US bonds rose in Asia, capping a selloff that drove yields to their highest levels this year and dragged the greenback up with them. More >>
ASB Bank profit jumps 12% in September quarter
Wednesday, 16 November 2016, 10:38 am | BusinessDesk
Nov. 15 (BusinessDesk) - ASB Bank's profit rose 12 percent to $260 million in the September quarter from $233 million a year earlier, as a lower official cash rate helped reduce the lender's funding costs. More >>
Takeovers Panel sees no code breach by Hellaby
Wednesday, 16 November 2016, 10:35 am | BusinessDesk
Nov. 15 (BusinessDesk) - The Takeovers Panel says it won't accede to a request from Bapcor Finance to convene a meeting to look into alleged breaches of the Takeovers Code by Hellaby Holdings and its adviser Grant Samuel in urging shareholders to reject ... More >>
Shanghai Pengxin head exits NZ farming operation's board
Wednesday, 16 November 2016, 10:04 am | BusinessDesk
Nov. 15 (BusinessDesk) - Chinese billionaire Jiang Zhaobai has left the board of his New Zealand farming operation, though he isn't giving up on the nation's agribusiness sector. More >>
NZ shares rise as Fletcher Building extends gains on quake
Wednesday, 16 November 2016, 9:16 am | BusinessDesk
Nov. 15 (BusinessDesk) - New Zealand shares advanced for a second day, with Fletcher Building extending its gain as fallout from Monday morning's 7.5 magnitude Kaikoura earthquake continues. Insurer Tower posted the biggest decline for another day. More >>
NZ defence industry braces for protests
Wednesday, 16 November 2016, 9:08 am | BusinessDesk
Nov. 15 (BusinessDesk) - The New Zealand Defence Industry Association, bracing for protests at its annual forum in Auckland this week, says it is a "misunderstood" sector that generates $60 million for the economy by providing support services to ... More >>
Dairy product prices rise amid tightening supply
Wednesday, 16 November 2016, 9:05 am | BusinessDesk
Nov. 16 (BusinessDesk) - Dairy product prices rose at the Global Dairy Trade auction, gaining for the seventh time in eight auctions, amid supply decreases. More >>
Stats NZ data delays highlights reliance on Wgtn office
Wednesday, 16 November 2016, 9:00 am | BusinessDesk
Nov. 15 (BusinessDesk) - Statistics New Zealand's decision to review the schedule of data releases after this week's 7.5 magnitude earthquake left its Wellington headquarters unusable for up to a year has highlighted the agency's reliance on the head office. More >>
While you were sleeping: Tech stocks rebound
Wednesday, 16 November 2016, 7:48 am | BusinessDesk
Nov. 16 (BusinessDesk) - Tech stocks rose as investors took advantage of their post-US-election slump amid expectations that the outlook for their earnings remains in tact. More >>
Dairy product prices rise amid tightening supply
Wednesday, 16 November 2016, 7:05 am | BusinessDesk
Nov. 16 (BusinessDesk) - Dairy product prices rose at the Global Dairy Trade auction, gaining for the seventh time in eight auctions, amid supply decreases. More >>
