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BusinessDesk - Latest News [Page 512]
Fonterra plays up clean, green credentials
Friday, 4 November 2016, 9:55 pm | BusinessDesk
Nov. 4 (BusinessDesk) - Fonterra Cooperative Group, which last week suspended an agreement with a Chinese distributor after its products were sold after their expiry date in the secondary market, has unveiled what it calls a food quality seal. More >>
Mitre 10 pays biggest dividend in at least 17 years
Friday, 4 November 2016, 9:54 pm | BusinessDesk
Nov. 4 (BusinessDesk) - Mitre 10 (New Zealand), the cooperative that services the Mitre 10 hardware chain, paid shareholders their biggest dividend in at least 17 years as profit soared, thanks to a lower wage bill and as growing consumer demand ... More >>
Spark stokes controversy on its push to wireless broadband
Friday, 4 November 2016, 9:53 pm | BusinessDesk
Nov. 4 (BusinessDesk) - Spark New Zealand managing director Simon Moutter has reinforced its push to steer customers away from copper broadband at the company’s annual meeting today, after earlier trading insults with Chorus over the issue. More >>
Abano investors Hutson, Reeves seek control
Friday, 4 November 2016, 9:51 pm | BusinessDesk
Nov. 4 (BusinessDesk) - Abano Healthcare Group's dissident shareholders Peter Hutson and James Reeves are seeking control of the dental clinic and radiology operator in a partial takeover offer. More >>
Gentrack annual earnings rise 16%, beating guidance
Friday, 4 November 2016, 4:49 pm | BusinessDesk
Nov. 4 (BusinessDesk) - Gentrack Group, the utilities software developer, said annual earnings rose 16 percent, beating guidance and shrugging off the impact of a strong kiwi dollar dragging on its export receipts. More >>
Spark shareholders reject virtual-only annual meetings
Friday, 4 November 2016, 3:59 pm | BusinessDesk
Nov. 4 (BusinessDesk) - Spark New Zealand's intention to move to a virtual-only annual meeting next year raised the ire of shareholders attending this year's one in person in Auckland today. More >>
Next week's MPS may be last in RBNZ easing cycle
Friday, 4 November 2016, 2:31 pm | BusinessDesk
Nov. 4 (BusinessDesk) - The Reserve Bank is expected to cut the official cash rate to a record low 1.75 percent next week in what's seen as the final act in an easing cycle that's proved ineffectual in the face of extraordinarily weak global inflation. More >>
NZ government accounts surprise with surplus
Friday, 4 November 2016, 1:52 pm | BusinessDesk
Nov. 4 (BusinessDesk) - The New Zealand government's accounts were unexpectedly in surplus in the first three months of the 2017 financial year, with the provisional tax take from companies tracking ahead of forecast. More >>
Goldsmith goes with 'enhanced' funding option for FMA
Friday, 4 November 2016, 1:46 pm | BusinessDesk
Nov. 3 (BusinessDesk) - The Financial Markets Authority will get an extra $9.8 million a year after Commerce Minister Paul Goldsmith signed off on an increase in the regulator's funding to beef up its monitoring. More >>
NZX exits Clear Grain Exchange
Friday, 4 November 2016, 1:15 pm | BusinessDesk
Nov. 4 (BusinessDesk) - NZX has sold the Clear Grain Exchange to the operation's head, Nathan Cattle, for an undisclosed sum, exiting a business that's incurred multi-million dollar legal costs over a dispute with the previous owners. More >>
AlphaCrowd raises $800,000 from Chinese investor
Friday, 4 November 2016, 11:46 am | BusinessDesk
Nov. 4 (BusinessDesk) - Crowdfunding platform AlphaCrowd has raised $800,000 from a Chinese investor, which it plans to spend on taking on more staff, although more than half of that is subject to its newest shareholder being granted a work visa. More >>
NZ dollar reaches two-month high
Friday, 4 November 2016, 11:40 am | BusinessDesk
Nov. 4 (BusinessDesk) - The New Zealand dollar rose to its highest level in two months on a trade-weighted basis on speculation next week's expected official cash rate cut by the Reserve Bank will be the last in its easing cycle. More >>
Motor vehicle sales reach record high in October
Friday, 4 November 2016, 9:09 am | BusinessDesk
Nov. 3 (BusinessDesk) - Sales of motor vehicles hit a record high in October, smashing a record set in July 1984, when Robert Muldoon lost a snap election. More >>
UPDATE: RMA reform process in turmoil
Friday, 4 November 2016, 9:05 am | BusinessDesk
Nov. 3 (BusinessDesk) - The government's Resource Management Act reforms face further delay, with Environment Minister Nick Smith conceding for the first time the risk that delays will prevent their passage before Christmas. More >>
MARKET CLOSE: NZ shares fall into correction
Friday, 4 November 2016, 9:02 am | BusinessDesk
Nov. 3 (BusinessDesk) - New Zealand shares dropped into correction territory, led lower by Metro Performance Glass and Sky Network Television while Xero gained after delivering its first-half results. More >>
While you were sleeping: Facebook slides on revenue
Friday, 4 November 2016, 7:48 am | BusinessDesk
Nov. 4 (BusinessDesk) - Wall Street slid, as Facebook shares dropped, while the uncertainty about the outcome of the US presidential election continued to weigh on sentiment. More >>
Investors Mutual boosts stake in SkyCity
Thursday, 3 November 2016, 7:45 pm | BusinessDesk
Nov. 3 (BusinessDesk) - Investors Mutual, the Australian equity fund manager, has increased its stake in the casino operator, SkyCity Entertainment Group to 6.25 percent, documents filed with the NZX show. More >>
NZ commodity prices rally for 6th month in a row in October
Thursday, 3 November 2016, 4:30 pm | BusinessDesk
Nov. 3 (BusinessDesk) - New Zealand commodity prices rose for a sixth consecutive month in October, led by butter, lamb and aluminium, although the strong kiwi dollar limited the benefits for local producers. More >>
NPT board considers other offers following challenge
Thursday, 3 November 2016, 4:10 pm | BusinessDesk
Nov. 3 (BusinessDesk) - The board of listed property investor NPT, which Augusta Capital is attempting to oust, says it is considering other proposals and has asked NZX for guidance on aspects of Augusta's expansion plan for NPT. More >>
NZ shares fall in correction from September high
Thursday, 3 November 2016, 3:42 pm | BusinessDesk
Nov. 3 (BusinessDesk) - New Zealand shares dropped, bringing the S&P/NZX 50 Index's decline from its September high to 11 percent, as equity markets suffer from a drop in risk appetite ahead of the US election. More >>
