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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 509]
RBNZ's Wheeler cuts OCR, signals end to easing cycle
Thursday, 10 November 2016, 12:30 pm | BusinessDesk
Nov. 10 (BusinessDesk) - Reserve Bank governor Graeme Wheeler cut the official cash rate to a new record low to try and stoke inflation in an economy growing ahead of expectations and signalled the end of the easing cycle, pushing the kiwi up. More >>
NZ dollar falls as greenback recovers
Thursday, 10 November 2016, 11:46 am | BusinessDesk
Nov. 10 (BusinessDesk) - The New Zealand dollar fell as the greenback recovered from an initial sell-off following Donald Trump's shock US election win as financial markets saw positives for the US economy in his promises to cut corporate tax and boost infrastructure ... More >>
Fonterra startups part of internal innovation pilot
Thursday, 10 November 2016, 10:30 am | BusinessDesk
Nov. 9 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings said two startups have been established within the diary giant as a result of its innovation pilot Disrupt. More >>
NZ dollar tumbles vs yen on potential for Trump victory
Thursday, 10 November 2016, 8:53 am | BusinessDesk
Nov. 9 (BusinessDesk) - The New Zealand dollar tumbled against the yen as speculation grew that the Republican Party may win not only the White House but achieve a clean sweep with control of the Senate and the House as well, giving it more power to enact ... More >>
Prospects of Trump presidency unsettle markets
Thursday, 10 November 2016, 8:51 am | BusinessDesk
Nov. 9 (BusinessDesk) - The yen strengthened and gold rose, while stock markets fell as US presidential election results showed the possibility of a win by Donald Trump, sending investors to so-called safe haven assets. More >>
IRD delayed multinational tax crackdown
Thursday, 10 November 2016, 8:49 am | BusinessDesk
Nov. 9 (BusinessDesk) - New Zealand has delayed cracking down on multinational tax avoidance due to private sector concerns over timing and concerns about "scaring away" foreign investment, the Inland Revenue Department says. More >>
NZ shares plunge as Trump leads presidential race
Thursday, 10 November 2016, 8:48 am | BusinessDesk
Nov. 9 (BusinessDesk) - New Zealand shares tumbled as Donald Trump took the lead in the US presidential race, with every stock on the benchmark index dropping. Xero, Heartland Bank and SkyCity Entertainment Group led the decline. More >>
Mercer to buy automation firm Haden & Custance for $2.25M
Thursday, 10 November 2016, 8:46 am | BusinessDesk
Nov. 9 (BusinessDesk) - Mercer Group plans to buy Hastings-based Haden & Custance for $2.25 million as the unprofitable stainless steel fabricator transitions to a food processing and packaging business. More >>
While you were sleeping: Stocks, greenback climb
Thursday, 10 November 2016, 7:44 am | BusinessDesk
Nov. 10 (BusinessDesk) - Wall Street rose, bolstered by pharmaceutical stocks, after an upset victory for Republican candidate Donald Trump in the US presidential election. More >>
Govt bows to submissions on RMA Bill, credits Maori Party
Wednesday, 9 November 2016, 5:34 pm | BusinessDesk
Nov. 9 (BusinessDesk) - The government has agreed to a wide range of changes to its proposed reforms to the Resource Management Act, agreeing to back down in areas identified by business and environmental groups alike, while crediting the Maori Party for the ... More >>
Update: Proposed changes to Chorus service standards
Wednesday, 9 November 2016, 5:19 pm | BusinessDesk
Nov. 9 (BusinessDesk) - The Commerce Commission is proposing changes to the standards setting the level of service Chorus has to provide retail service providers on its copper lines, something the network operator says it's already doing. More >>
Government boosts apprenticeship funding
Wednesday, 9 November 2016, 4:37 pm | BusinessDesk
Nov. 9 (BusinessDesk) - The government has lifted funding for new apprenticeships and is looking at ways to reduce the country's reliance foreign workers as it prepares to adjust immigration policy settings to try to make the workforce better. More >>
IRD plans to replicate Australian student loan success in UK
Wednesday, 9 November 2016, 4:12 pm | BusinessDesk
Nov. 9 (BusinessDesk) - Inland Revenue says it's in talks with foreign tax departments including the UK's HM Revenue & Customs as it steps up efforts to recover money owed by overseas-based student loan borrowers. More >>
Government mulling options to fund tourism infrastructure
Wednesday, 9 November 2016, 2:53 pm | BusinessDesk
Nov. 9 (BusinessDesk) - Prime Minister John Key said the government is moving closer to making a decision on how to fund additional infrastructure needed to cater for record tourism inflows. More >>
NZ credit, debit card spending rises 0.6% in October
Wednesday, 9 November 2016, 2:31 pm | BusinessDesk
Nov. 9 (BusinessDesk) - New Zealand retail spending on electronic cards rose for a second month in October as shopkeepers continued to benefit from the nation's tourism boom, which drove up demand for restaurants, takeaway shops, and accommodation. More >>
Auckland Airport fraudster jailed for 3 years
Wednesday, 9 November 2016, 2:30 pm | BusinessDesk
Nov. 9 (BusinessDesk) - Former Auckland International Airport employee Teremoana Kimiangatau has been jailed for three years and two months after pleading guilty to charges of defrauding the airport out of about $1.8 million. More >>
Virgin folds NZ accounts into Aussie parent as revenues fall
Wednesday, 9 November 2016, 1:30 pm | BusinessDesk
Nov. 9 (BusinessDesk) - Financial results from the New Zealand end of Virgin Australia’s trans-Tasman operations are no longer being reported separately although its annual group accounts show revenue from New Zealand falling markedly in the 2016 financial ... More >>
Changes to service standard for Chorus retail customers
Wednesday, 9 November 2016, 12:44 pm | BusinessDesk
Nov. 9 (BusinessDesk) - The Commerce Commission is proposing changes to the standards setting the level of service Chorus has to provide retail service providers on its copper lines with a view to ensuring capacity is upgraded to meet demand on the ageing ... More >>
Mainfreight first-half profit rises 27%
Wednesday, 9 November 2016, 12:33 pm | BusinessDesk
Nov. 9 (BusinessDesk) - Mainfreight, the transport and logistics group, posted a 27 percent gain in first-half profit as margins improved in New Zealand, Australia, Asia and Europe, and expects a continuation of stronger trading in the second half. More >>
NZ dollar gains as market bets on Clinton victory
Wednesday, 9 November 2016, 12:10 pm | BusinessDesk
Nov. 9 (BusinessDesk) - The New Zealand dollar rose to a two-month high, pushing above 79 on a trade-weighted basis, as investors bet Hillary Clinton will win the US presidential election, giving them more appetite to take on risk. More >>
