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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 513]
'The jockey' key for angel investing
Thursday, 3 November 2016, 3:17 pm | BusinessDesk
Nov. 3 (BusinessDesk) - Investing in high growth companies is like a long horse race and understanding the jockey you’re betting on is key for angel investors, says veteran Canadian angel investor Ross Finlay. More >>
NZX cash trading gains for 3rd consecutive month in October
Thursday, 3 November 2016, 2:51 pm | BusinessDesk
Nov. 3 (BusinessDesk) - Cash trading on the NZX increased for a third straight month in October, as investors looked for returns in a low interest rate environment. More >>
Auckland house price hits new record in October
Thursday, 3 November 2016, 2:18 pm | BusinessDesk
Nov. 3 (BusinessDesk) - The average Auckland house price hit a new record last month, driven by an increase in sales of higher-value properties, according to the city's largest realtor. More >>
Briscoe 3rd-qtr sales rise 8.4%
Thursday, 3 November 2016, 2:15 pm | BusinessDesk
Nov. 3 (BusinessDesk) - Briscoe Group, which operates stores selling household items and sporting goods, lifted third-quarter sales 8.4 percent after spending more on campaigns to woo customers, putting a squeeze on the retailer's margins. More >>
Xero narrows 1H loss as revenue rises
Thursday, 3 November 2016, 2:00 pm | BusinessDesk
Nov. 3 (BusinessDesk) - Xero, the cloud-based accounting software firm, narrowed its first-half loss for 2016 as revenue lifted 48 percent, with its cash burn continuing to slow. More >>
ANZ New Zealand earnings drop 9% on skinnier margins
Thursday, 3 November 2016, 1:57 pm | BusinessDesk
Nov. 3 (BusinessDesk) - ANZ New Zealand, the local unit of Australia & New Zealand Banking Group, posted a 9 percent fall in annual earnings as margins at the country's biggest lender got squeezed by more expensive funding and stiff competition for mortgage ... More >>
Scales to buy Hawke's Bay apple grower Longview
Thursday, 3 November 2016, 1:27 pm | BusinessDesk
Nov. 3 (BusinessDesk) - Scales Corp has agreed to buy Hawke's Bay apple grower, packer and marketer Longview Group Holdings for $20.5 million, adding capacity to sell fruit into the fast-growing Asian market. More >>
Mercury lifts 2017 earnings forecast by $5 mln
Thursday, 3 November 2016, 11:54 am | BusinessDesk
Nov. 3 (BusinessDesk) - Mercury NZ, the electricity generator and distributor formerly known as MightyRiverPower, raised its 2017 earnings guidance to reflect additional hydro generation expected from dams in the Waikato catchment. More >>
NZ dollar rises above 73 cents for first time in a month
Thursday, 3 November 2016, 11:42 am | BusinessDesk
Nov. 3 (BusinessDesk) - The New Zealand dollar rose above 73 US cents for the first time in a month after stronger-than-expected labour market data stoked speculation a widely anticipated rate cut by the central bank next week will be the last for ... More >>
Bathurst/Talley JV to pay $46 mln for Solid Energy mines
Thursday, 3 November 2016, 8:59 am | BusinessDesk
Nov. 2 (BusinessDesk) - The Bathurst Resources and Talley's Group joint venture, Phoenix Coal, is to pay $46 million to buy Solid Energy's Stockton, Rotowaro and Maramarua Mines. More >>
No 'preconceived ideas' in Fisher Funds hunt for new chief
Thursday, 3 November 2016, 8:57 am | BusinessDesk
Nov. 2 (BusinessDesk) - The board of Fisher Funds Management doesn't have any preconceived ideas about a potential replacement for managing director Carmel Fisher, who's signaled her desire to step back from the day-to-day running of the country's fifth-biggest ... More >>
NZ tourism boom soaks up jet fuel supplies
Thursday, 3 November 2016, 8:56 am | BusinessDesk
Nov. 1 (BusinessDesk) - New Zealand's booming tourism is soaking up the country's excess supplies of aviation fuel, raising the prospect of higher margins from one of the least profitable products currently sold by the country's transport fuel retailers. More >>
Inflation expectations show modest uplift in next two years
Thursday, 3 November 2016, 8:47 am | BusinessDesk
Nov. 2 (BusinessDesk) - New Zealand inflation expectations for the next two years have increased, a Reserve Bank survey shows, in an economy that respondents believe will pick up pace. More >>
Tightening labour market fails to spur higher wages
Thursday, 3 November 2016, 8:45 am | BusinessDesk
Nov. 2 (BusinessDesk) - A tighter New Zealand labour market hasn't managed to spur higher wages, even as jobs growth outstrips an expanding population and as firms find it increasingly difficult to find new staff. More >>
Punakaiki Fund raising funds from retail investors
Thursday, 3 November 2016, 8:44 am | BusinessDesk
Nov. 2 (BusinessDesk) - Punakaiki Fund, which makes long-term investments in high-growth New Zealand companies, has launched fundraising offers at $19 per share in New Zealand and Australia with no set amount being targeted More >>
While you were sleeping: Fed flags December hike
Thursday, 3 November 2016, 7:45 am | BusinessDesk
Nov. 3 (BusinessDesk) - Wall Street fell, while US Treasuries rose, after Federal Reserve policy makers opted to keep interest rates steady but suggested the odds had risen for a December hike. More >>
2degrees to list on Toronto Stock Exchange in wider deal
Thursday, 3 November 2016, 12:44 am | BusinessDesk
Nov. 2 (BusinessDesk) - New Zealand's third-placed mobile operator, Two Degrees Mobile, is to become listed on the Toronto Stock Exchange as part of a wider deal that sees its Canadian owners sell their 62.9 percent interest in the company into a new entity. More >>
Murray McCully cleared of corruption over Saudi deal
Thursday, 3 November 2016, 12:41 am | BusinessDesk
Nov. 2 (BusinessDesk) - The auditor-general has cleared Foreign Minister Murray McCully of corruption over the $11.5 million Saudi Arabia Food Security Partnership but found "significant shortcomings" in the paper put to Cabinet to support the deal. More >>
MARKET CLOSE: NZ shares down
Thursday, 3 November 2016, 12:26 am | BusinessDesk
Nov. 2 (BusinessDesk) - New Zealand shares dropped over a percent as investors felt pre-US election jitters, with Tilt Renewables, Orion Health Group and Trade Me Group leading the index lower. More >>
Punakaiki Fund has another stab at raising money
Wednesday, 2 November 2016, 4:35 pm | BusinessDesk
Nov. 2 (BusinessDesk) - The Punakaiki Fund, which makes long-term investments in high-growth New Zealand companies, has launched fundraising offers at $19 per share in New Zealand and Australia with no set amount being targeted. More >>
