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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 517]
NZ dollar falls vs. yuan on concern over Chinese devaluation
Friday, 28 October 2016, 2:05 am | BusinessDesk
Oct. 27 (BusinessDesk) - The New Zealand dollar fell against the Chinese yuan on concern Beijing's devaluation of its currency is a negative signal about the Chinese economy, the country's biggest export market. More >>
Mercer says Fonterra silo could cost as much as $4 mln
Friday, 28 October 2016, 2:03 am | BusinessDesk
Oct. 27 (BusinessDesk) - Mercer Group says the collapse of a silo at Fonterra Cooperative Group's Edendale factory could cost the unprofitable stainless steel fabricator as much as $45 million. More >>
MARKET CLOSE: NZ shares bounce
Thursday, 27 October 2016, 7:20 pm | BusinessDesk
Oct. 27 (BusinessDesk) - New Zealand shares bounced back from yesterday's 1.5 percent drop, led by Port of Tauranga and Scales Corporation while Comvita continued to fall. More >>
Fonterra raises Australian farmgate milk price
Thursday, 27 October 2016, 4:10 pm | BusinessDesk
Oct. 27 (BusinessDesk) - Fonterra Cooperative Group's Australian business has raised its average farmgate milk price to A$5.10 per kilogram of milk solids and increased its forecast closing price due to strengthening global dairy prices. More >>
NZ Oil & Gas make leadership announcement 'in coming days'
Thursday, 27 October 2016, 3:14 pm | BusinessDesk
Oct. 27 (BusinessDesk) - New Zealand Oil & Gas, the Wellington-based explorer and producer, is likely to make an announcement soon over its senior leadership, chairman Rodger Finlay told shareholders at today's annual meeting in the capital. More >>
Fugitive Simon Turnbull pleads guilty to mortgage fraud
Thursday, 27 October 2016, 3:12 pm | BusinessDesk
Oct. 27 (BusinessDesk) - Simon Lawrence Wood Turnbull, who fled the country facing mortgage fraud charges, has pleaded guilty to 16 charges under the Crimes Act at Auckland District Court. More >>
Wynyard Shareholders to join class action
Thursday, 27 October 2016, 3:08 pm | BusinessDesk
The organiser of a proposed class action against the directors of failed intelligence software company Wynyard said there has been a rash of shareholders sign up this week since the board appointed voluntary administrators. More >>
Starrenburg named to Takeovers Panel
Thursday, 27 October 2016, 12:24 pm | BusinessDesk
Oct. 27 (BusinessDesk) - Nathanael Starrenburg, a lawyer with a 25 percent interest in corporate law firm Harmos Horton Lusk, has been named to the Takeovers Panel, which is farewelling outgoing panel member David Flacks. More >>
'Complex' EQC law review set to drag on into next year
Thursday, 27 October 2016, 12:19 pm | BusinessDesk
Oct. 27 (BusinessDesk) - The long-running Treasury-led review of the Earthquake Commission's funding and policy structures is set to drag into the 2017 election year as consultation on proposed changes throws up a number of thorny issues. More >>
Freightways 1st-qtr profit gains 9.9% on flourishing economy
Thursday, 27 October 2016, 12:17 pm | BusinessDesk
Courier and information management company Freightways, seen as a bellwether for the New Zealand economy, has reported an upbeat start to the 2017 financial year. More >>
NZ trade deficit widens to a record in September
Thursday, 27 October 2016, 12:14 pm | BusinessDesk
Oct. 27 (BusinessDesk) - New Zealand's monthly trade deficit widened to a record in September as meat exports dropped to their lowest level in more than three years. More >>
Lake McKay Station up for sale
Thursday, 27 October 2016, 12:00 pm | BusinessDesk
Oct. 27 (BusinessDesk) - Farming entrepreneur Colin Harvey has put his 6,639-hectare Lake McKay Station, one of the largest freehold high country stations in Wanaka, up for sale with tentative work on a residential subdivision among the potential ... More >>
BNZ annual earnings slip 3.4% on lower trading income
Thursday, 27 October 2016, 10:52 am | BusinessDesk
Oct. 27 (BusinessDesk) - Bank of New Zealand's annual earnings slipped 3.4 percent as the local unit of National Australia Bank attracted a smaller take from its markets division, while the dominant retail banking unit was relatively stable. More >>
Wellington Drive lifts 3rd-qtr sales 25%
Thursday, 27 October 2016, 9:08 am | BusinessDesk
Oct. 27 (BusinessDesk) - Wellington Drive Technologies, which makes energy efficient motors for commercial refrigerators, lifted third-quarter revenue 25 percent and is still targeting positive earnings for the year. More >>
NZ dollar little changed before trade data
Thursday, 27 October 2016, 9:04 am | BusinessDesk
Oct. 27 (BusinessDesk) - The New Zealand dollar was little changed against the greenback ahead of data expected to show the trade balance remained in deficit in September, and it recovered ground against the Aussie after a selloff yesterday triggered by ... More >>
NZ dollar drops to week-low vs. Aussie
Thursday, 27 October 2016, 8:49 am | BusinessDesk
Oct. 26 (BusinessDesk) - The New Zealand dollar fell to its lowest level in more than a week against the Australian dollar after inflation data across the Tasman printed stronger than the market had expected. More >>
OIO looked at Fairfax track record before approving merger
Thursday, 27 October 2016, 8:48 am | BusinessDesk
Oct. 26 (BusinessDesk) - The Overseas Investment Office looked into the activities of key directors of NZME and Fairfax Media executives before signing off on their merger plan, documents released under the Official Information Act show. More >>
Spark executive Jolie Hodson sells down shares on-market
Thursday, 27 October 2016, 8:46 am | BusinessDesk
Oct. 26 (BusinessDesk) - Spark New Zealand senior executive Jolie Hodson has sold almost all of her ordinary shares in the country's biggest telecommunications business, details filed with the NZX show. More >>
Wynyard failure may halt lucrative relationship for Jade
Thursday, 27 October 2016, 8:33 am | BusinessDesk
Oct. 26 (BusinessDesk) - The collapse of Wynyard Group is likely to slash returns for former parent Jade Software, which had about six-and-a-half years left to run on a lucrative 10-year services contract with the intelligence software developer. More >>
Comvita shares slump 11% as honey maker tips 1H loss
Thursday, 27 October 2016, 8:29 am | BusinessDesk
Oct. 26 (BusinessDesk) - Comvita shares dropped after the manuka honey and health products maker warned a first-half loss was on the cards, which chief executive Scott Coulter described as a “blip”. More >>
