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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 514]
Cavalier says 2017 earnings may fall as much as 52%
Wednesday, 2 November 2016, 4:06 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Cavalier Corp said 2017 earnings may fall as much as 52 percent as the carpet maker incurs one-time costs to consolidate its manufacturing operations. More >>
Ticketmaster NZ group turns to a loss in 2015
Wednesday, 2 November 2016, 3:18 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Ticketmaster New Zealand, which has a controlling interest in the soon-to-be-renamed Vector Arena, turned to an annual loss in 2015, despite revenue growing, with operating expenses spiking. More >>
NZ jobless rate falls below 5% for first time since 2008
Wednesday, 2 November 2016, 1:58 pm | BusinessDesk
Nov. 2 (BusinessDesk) - New Zealand's unemployment rate fell below 5 percent for the first time since December 2008 as employers took on more staff than expected, although that didn't spur wages to rise at a faster pace. The kiwi dollar rose on ... More >>
US largest overseas buyers of NZ land, KPMG study finds
Wednesday, 2 November 2016, 11:52 am | BusinessDesk
Nov. 1 (BusinessDesk) - Investors from the US States were the largest overseas purchasers of land in New Zealand between 2013 and 2015, analysis of Overseas Investment Office approvals shows, with China far behind. More >>
NZ dollar edges higher after night of mixed data
Wednesday, 2 November 2016, 11:49 am | BusinessDesk
Nov. 2 (BusinessDesk) - The New Zealand edged up against the greenback after a busy night of mixed economic data and a surge in prices in the latest GlobalDairyTrade auction. Traders will now turn their attention to New Zealand third-quarter labour ... More >>
Fisher Funds hunts for new head to replace founder
Wednesday, 2 November 2016, 9:09 am | BusinessDesk
Nov. 1 (BusinessDesk) - Fisher Funds Management has kicked off a worldwide search to replace founder Carmel Fisher, who wants to step back from a full-time management role to spend more time with her family. More >>
Oregon Group more than doubles annual profit
Wednesday, 2 November 2016, 9:08 am | BusinessDesk
Nov. 1 (BusinessDesk) - Oregon Group, which controls the country's fourth biggest forest estate Ernslaw One, more than doubled its annual profit, with the bottom line propped up by gains in the value of forestry and the sale of increasingly expensive ... More >>
Increased tests on steel mesh emphasise 'ductility'
Wednesday, 2 November 2016, 9:06 am | BusinessDesk
Nov. 1 (BusinessDesk) - The government has set out how steel mesh must be independently tested to ensure ductility, or the steel's ability to stretch as it should in an earthquake. More >>
MARKET CLOSE: NZ shares drop
Wednesday, 2 November 2016, 9:03 am | BusinessDesk
Nov. 1 (BusinessDesk) - New Zealand shares declined with Sky Network Television leading the index lower again, falling along with Xero and Genesis Energy. More >>
Trilogy tells market continues to meet requirements
Wednesday, 2 November 2016, 9:02 am | BusinessDesk
Nov. 1 (BusinessDesk) - Trilogy International, the cosmetics brand and distributor, has told the NZX it continues to comply with the stock market's rules on continuous disclosure, following a fall in its share price. More >>
Veritas shares drop 13%
Wednesday, 2 November 2016, 8:56 am | BusinessDesk
Nov. 1 (BusinessDesk) - Veritas Investments says it's on track to achieve its 2017 guidance after its first quarter of trading, with revenue expected to be lower than in 2016. More >>
NZ dollar drops vs Aussie as RBA seen as done with rate cuts
Wednesday, 2 November 2016, 8:54 am | BusinessDesk
Nov. 1 (BusinessDesk) - The New Zealand dollar fell against the Aussie after the market took the view that the Reserve Bank of Australia is done with cutting interest rates for now. More >>
While you were sleeping: US election nerves
Wednesday, 2 November 2016, 7:55 am | BusinessDesk
Nov. 2 (BusinessDesk) - Wall Street dropped amid concern about the US Presidential election, while Federal Reserve policy makers began their two-day policy meeting. More >>
Dairy product prices rally as whole milk powder soars
Wednesday, 2 November 2016, 7:01 am | BusinessDesk
Nov. 2 (BusinessDesk) - Dairy product prices climbed at the Global Dairy Trade auction, advancing for the sixth time in seven auctions, bolstered by a jump in whole milk powder amid lower supply. More >>
Meridian takes windfarm rates dispute to High Court
Tuesday, 1 November 2016, 4:57 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Meridian Energy's dispute with the Wellington City Council over the rates it pays for its windfarms has gone to the High Court, with the electricity generator-retailer seeking a refund of about $1.2 million in what it claims are excess ... More >>
Chorus director sees opportunity for share price re-rating
Tuesday, 1 November 2016, 4:32 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Newly elected Chorus director Mark Cross sees an opportunity for the telecommunications network operator's share price to be re-rated by the market because of ballooning demand for online services driving the country's data usage. More >>
NZ home values increase at slowest annual pace in 5 months
Tuesday, 1 November 2016, 3:38 pm | BusinessDesk
Nov. 1 (BusinessDesk) - New Zealand residential property values increased at the slowest annual pace in five months in October, as tougher lending restrictions constrained Auckland growth. More >>
China relationship with NZ in 'best ever' period
Tuesday, 1 November 2016, 3:08 pm | BusinessDesk
Nov. 1 (BusinessDesk) - China's relationship with New Zealand is the best it has been since the two countries established diplomatic relations more than four decades ago even though tensions can arise over Chinese investment in land here, according ... More >>
Coats names industrials boss Rajiv Sharma as CEO
Tuesday, 1 November 2016, 3:02 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Coats Group, the UK-based thread-maker, named Rajiv Sharma as chief executive, replacing Paul Foreman who steps down on Dec. 31 after seven years in the job. More >>
Hellaby urges shareholders to reject Bapcor offer
Tuesday, 1 November 2016, 1:59 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Hellaby Holdings is urging shareholders to reject a $322.5 million takeover bid by ASX-listed Bapcor, saying it's "significantly below" its independent adviser's valuation range. More >>
