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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 518]
MARKET CLOSE: NZ shares fall
Thursday, 27 October 2016, 8:27 am | BusinessDesk
Oct. 26 (BusinessDesk) - New Zealand shares fell, following the Australian market lower as Comvita suffered from weaker sales, while A2 Milk Co and SkyCity Entertainment Group dropped. More >>
While you were sleeping: Apple slides on outlook
Thursday, 27 October 2016, 7:51 am | BusinessDesk
Oct. 27 (BusinessDesk) - Equities slid amid a disappointing outlook from Apple, while energy stocks fell with the price of oil. More >>
Fonterra suspends Jiawai distribution agreement
Wednesday, 26 October 2016, 4:04 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Fonterra Cooperative Group has suspended a distribution agreement with China's Jiawai after Shanghai food safety officials and police announced the arrest of 19 people suspected of repackaging expired milk powder from New Zealand. More >>
UPDATE: Pumpkin Patch appoints administrators as sales fall
Wednesday, 26 October 2016, 4:00 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Children's clothing retailer Pumpkin Patch has been tipped into receivership by its lenders and appointed voluntary administrators after failing to reinvent itself in the face of shrinking sales and too much debt. More >>
Westland Milk Products chair to step down
Wednesday, 26 October 2016, 3:55 pm | BusinessDesk
Oct. 26 (BusinessDesk) - The chair of the Hokitika-based dairy cooperative, Westland Milk Products, is to step down and retire from the board at the end of March next year. More >>
Restaurant Brands to pay US$105M for Hawaiian chain
Wednesday, 26 October 2016, 3:47 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Restaurant Brands NZ plans to buy Pacific Island Restaurants, the largest fast food operator in Hawaii with 82 Taco Bell and Pizza Hut stores, to diversify its earnings away from New Zealand where it runs the KFC, Pizza Hut, ... More >>
Comvita warns of first half loss on China regulatory changes
Wednesday, 26 October 2016, 3:30 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Manuka honey and health products company Comvita has warned its first-half result is likely to be a loss after tough trading in the first quarter of the 2017 financial year resulted in an unexpected drop in sales. More >>
Formal partial takeover offer of Airwork mooted
Wednesday, 26 October 2016, 3:29 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Airwork Holdings, the Auckland-based aircraft services business, has told investors a formal partial takeover offer could be made as early as next week, provided conditions are satisfied or waived. More >>
Skellerup projects 2017 profit to rise as much as 7%
Wednesday, 26 October 2016, 1:59 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Skellerup Holdings expects annual profit to rise as much as 7 percent, recovering from last year's decline, as the industrial rubber goods maker puts greater emphasis on potable water applications and food safety. More >>
Pumpkin Patch tipped into receivership
Wednesday, 26 October 2016, 1:25 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Children's clothing retailer Pumpkin Patch has been tipped into receivership by its lenders and appointed voluntary administrators after failing to reinvent itself in the face of shrinking sales and too much debt. More >>
Landcorp Farming forecasts wider annual loss, no dividend
Wednesday, 26 October 2016, 12:38 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Landcorp Farming, the state-owned farmer, has forecast a wider annual loss and no dividend for the current year, reflecting low growth in its milk and livestock revenues and increased spending for longer term gain. More >>
Restaurant Brands to pay US$105M for Hawaiian chain
Wednesday, 26 October 2016, 11:07 am | BusinessDesk
Oct. 26 (BusinessDesk) - Restaurant Brands NZ plans to buy Pacific Island Restaurants, the largest fast food operator in Hawaii with 82 Taco Bell and Pizza Hut stores, to diversify its earnings away from New Zealand where it runs the KFC, Pizza Hut, ... More >>
NZ gets thumbs up on tax
Wednesday, 26 October 2016, 9:51 am | BusinessDesk
NZ gets thumbs up on tax as it tops World Bank ease of doing business report More >>
Serko narrows first-half loss
Wednesday, 26 October 2016, 9:47 am | BusinessDesk
Oct. 26 (BusinessDesk) - Serko, the online travel booking company, narrowed its first-half operating loss and said it won't need more capital to reach its target of being profitable in 2018. More >>
NZME considering A$156M purchase of local Adshel business
Wednesday, 26 October 2016, 8:59 am | BusinessDesk
Oct. 25 (BusinessDesk) - NZME is considering buying Adshel's local business for A$156 million after former parent APN News & Media's buy-out of the outdoor advertising business triggered an option for the local media group to buy the assets on the same ... More >>
NZX head of markets Mark Peterson to act as interim chief
Wednesday, 26 October 2016, 8:57 am | BusinessDesk
Oct. 26 (BusinessDesk) - NZX's short timeframe to replace outgoing chief executive Tim Bennett will see head of markets Mark Peterson take the reins on an interim basis from the start of next year. More >>
NZ dollar dips vs. Australian dollar
Wednesday, 26 October 2016, 8:52 am | BusinessDesk
Oct. 26 (BusinessDesk) - The New Zealand dollar fell against its trans-Tasman counterpart as higher iron ore prices bolstered demand for the Aussie ahead of Australian inflation data today. More >>
NZ shares rise as Air NZ, Fletcher, Chorus bounce
Wednesday, 26 October 2016, 8:42 am | BusinessDesk
Oct. 25 (BusinessDesk) - New Zealand shares rose, led by Air New Zealand, SkyCity Entertainment Group and Fletcher Building, while Wynyard Group was suspended after announcing it has called in administrators. More >>
While you were sleeping: Earnings disappoint
Wednesday, 26 October 2016, 7:42 am | BusinessDesk
Oct. 26 (BusinessDesk) - Stocks on both sides of the Atlantic slid amid disappointing results from companies including 3M and Caterpillar. More >>
Sanitarium Health Food NZ exec van Heerden steps down
Tuesday, 25 October 2016, 4:28 pm | BusinessDesk
Oct. 25 (BusinessDesk) - Pierre van Heerden is stepping down as executive general manager of Sanitarium Health Food Co, earning praise on the way out from the NZ Food and Grocery Council. More >>
