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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 520]
NZ migration, tourism hits new highs in September
Friday, 21 October 2016, 11:29 am | BusinessDesk
Oct. 21 (BusinessDesk) - New Zealand welcomed record migrants and tourists in the year through September, Statistics New Zealand says. More >>
Pumpkin Patch says equity value eroded
Friday, 21 October 2016, 10:36 am | BusinessDesk
Oct. 21 (BusinessDesk) - Pumpkin Patch, the embattled childrenswear retailer, says there's virtually no value left in its equity after discussions with its bank were unsuccessful. More >>
Sky City shares drop to year-low as 1Q revenue declines
Friday, 21 October 2016, 10:20 am | BusinessDesk
Oct. 21 (BusinessDesk) - Shares in SkyCity Entertainment Group dropped to a year-low after the casino operator posted weaker first-quarter revenue due to lower gaming and high-roller activity in Auckland, difficult trading conditions in Darwin, and ... More >>
NZ dollar falls against broadly stronger greenback
Friday, 21 October 2016, 9:16 am | BusinessDesk
Oct. 21 (BusinessDesk) - The New Zealand dollar fell against a broadly stronger US dollar after the European Central Bank said it was in no hurry to end quantitative easing measures. More >>
MARKET CLOSE: NZ shares flat
Friday, 21 October 2016, 9:12 am | BusinessDesk
Oct. 20 (BusinessDesk) - New Zealand shares were flat as investors saw no reason to buy, with Trade Me Group dropping alongside Infratil and Summerset Group Holdings while Metro Performance Glass rose. More >>
While you were sleeping: Earnings disappoint
Friday, 21 October 2016, 7:45 am | BusinessDesk
Oct. 21 (BusinessDesk) - Equities on both sides of the Atlantic fell amid disappointing earnings from Travelers and Nestle. More >>
Liquidators reveal scale of Arena Capital/Blackfort FX ponzi
Thursday, 20 October 2016, 5:31 pm | BusinessDesk
Documents from the receivers and liquidators of Arena Capital, whose director Jimmie McNicholl has been charged with running a ponzi scheme, show it received more than $9 million from clients even though no forex trading was undertaken. More >>
NZ dollar gains vs Aussie as Australian economy sheds jobs
Thursday, 20 October 2016, 5:30 pm | BusinessDesk
Oct. 20 (BusinessDesk) - The New Zealand dollar rose against its Australian counterpart after figures showed continued weakness in the jobs market across the Tasman, raising concerns about the relative performance of that economy. More >>
$8.3mn Ponzi may have hundreds of victims: SFO
Thursday, 20 October 2016, 5:02 pm | BusinessDesk
Oct. 20 (BusinessDesk) - A man has appeared in Christchurch District Court accused of obtaining $8.3 million in a Ponzi scheme that prosecutors say may have caught out hundreds of people. More >>
Sky TV's Fellet say submissions against merger 'misleading'
Thursday, 20 October 2016, 5:01 pm | BusinessDesk
Oct. 20 (BusinessDesk) - Sky Network Television chief executive John Fellet has hit out at submissions opposing the pay-television broadcaster’s planned $3.44 billion merger with Vodafone, describing them as “unified by their predictability and misleading ... More >>
Port of Tauranga forecasts profit of $79-83 mln for 2017
Thursday, 20 October 2016, 4:39 pm | BusinessDesk
Oct. 20 (BusinessDesk) - Port of Tauranga expects full-year earnings in the range of $79 million to $83 million, an increase on the $77.3 million reported for 2016, according to a transcript of a speech published to the NZX. More >>
Pumpkin Patch shares biggest faller on NZX
Thursday, 20 October 2016, 4:02 pm | BusinessDesk
Oct. 20 (BusinessDesk) - Pumpkin Patch shares were the biggest decliner on the NZX today as the deadline looms today for directors to propose measures to address its capital constraints with lender ANZ Bank New Zealand. More >>
Skipton's Wynyard stake subject to heavy writedown
Thursday, 20 October 2016, 3:43 pm | BusinessDesk
Oct. 20 (BusinessDesk) - Wynyard Group's major shareholder and the potential source of vital working capital, Skipton Building Society, wrote down the value of its investment in the company and changed its accounting treatment of the shares because it felt ... More >>
Shanghai Maling quizzed about historic melamine scandal
Thursday, 20 October 2016, 3:24 pm | BusinessDesk
Oct. 20 (BusinessDesk) - Shanghai Maling Aquarius officials were quizzed about China's historic melamine scandal and a luncheon meat recall before being approved by the Overseas Investment Office, papers show. More >>
RMA reform bill to miss its latest parliamentary deadline
Thursday, 20 October 2016, 3:22 pm | BusinessDesk
Oct. 20 (BusinessDesk) - The government's latest attempt to reform the Resource Management Act continues to run into trouble, with the chairman of the select committee conceding today that the Resource Legislation Amendment Bill will miss its third reportback ... More >>
Small container ships expected to keep servicing small ports
Thursday, 20 October 2016, 1:47 pm | BusinessDesk
Oct. 20 (BusinessDesk) - The abundant global supply of small container ships is likely to mean they will continue to service a range of smaller New Zealand ports "for the foreseeable future", the chairman of Bluff-based Southport, Rex Chapman, told shareholders ... More >>
Mercer Group shares at record low; outlook uncertain
Thursday, 20 October 2016, 1:34 pm | BusinessDesk
Oct. 20 (BusinessDesk) - Mercer Group shares are languishing unloved at a record low on the stock exchange as the unprofitable stainless steel fabricator restructures its operations, undertakes a refinancing to keep it afloat, and faces questions about ... More >>
Auckland Airport's job skills hub extended
Thursday, 20 October 2016, 1:34 pm | BusinessDesk
Oct. 20 (BusinessDesk) - Auckland International Airport says other companies operating near the airport have joined ARA, its job skills and education hub designed to source skilled labour during the current construction boom. More >>
Wynyard extends trading halt until next week
Thursday, 20 October 2016, 9:30 am | BusinessDesk
Oct. 20 (BusinessDesk) - Wynyard Group, the intelligence software developer, is looking into how it can tap a stand-by loan facility agreed in August with major shareholder Skipton Building Society, saying it needs the funds for working capital. More >>
Sky TV says 2017 charges higher than forecast due to error
Thursday, 20 October 2016, 9:29 am | BusinessDesk
Oct. 20 (BusinessDesk) - Sky Network Television increased its annual forecast for depreciation, amortisation and impairment charges, citing a timing error. More >>
