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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 521]
Lewis Road and Whittaker's launch chocolate butter
Thursday, 20 October 2016, 9:26 am | BusinessDesk
Oct. 19 (BusinessDesk) - Dairy brand company Lewis Road Creamery is launching a chocolate butter in the first collaboration with Whittaker’s since its up-market chocolate milk sent Kiwis into a sugar-laden frenzy in 2014. More >>
Private equity fund managers should take lead in investment
Thursday, 20 October 2016, 9:24 am | BusinessDesk
Oct. 20 (BusinessDesk) - There is a “compelling opportunity” for private equity general partners to play a lead role in the take-up of innovation, says Bill Ferris, chair of the independent body tasked with improving Australia’s innovation performance. More >>
NZ's tech exporters deliver offshore revenue of $7 biln
Thursday, 20 October 2016, 9:04 am | BusinessDesk
Oct. 19 (BusinessDesk) - New Zealand's technology export sector delivered offshore revenue of almost $7 billion, up 13.5 percent from $6.5 billion in 2015 according to the twelfth annual TIN100 report. More >>
Diagnostic tool wins Velocity challenge
Thursday, 20 October 2016, 9:02 am | BusinessDesk
Oct. 19 (BusinessDesk) - A diagnostic tool that allows low-cost, on-the-spot detection of DNA signatures of infectious and chronic diseases has won top prize in Auckland University’s annual student-run Velocity $100k challenge. More >>
NZ dollar rises to two-week high
Thursday, 20 October 2016, 8:58 am | BusinessDesk
Oct. 20 (BusinessDesk) - The New Zealand dollar rose to a two-week high as gains in equity markets and commodities such as crude oil helped underpin currencies linked to global growth such as the kiwi and the Australian dollar. More >>
While you were sleeping: Stocks, oil rise
Thursday, 20 October 2016, 7:55 am | BusinessDesk
Oct. 20 (BusinessDesk) - Wall Street gained with the price of oil and as US companies including Yahoo! reported better-than-expected quarterly earnings. More >>
MARKET CLOSE: NZ shares flat, Tegel and Z Energy gain
Wednesday, 19 October 2016, 8:18 pm | BusinessDesk
Oct. 19 (BusinessDesk) - New Zealand shares were flat as Tegel Group Holdings and Z Energy advanced on positive updates, while SkyCity Entertainment Group dropped. More >>
NZ dollar rises above 72 US cents amid early inflation signs
Wednesday, 19 October 2016, 5:19 pm | BusinessDesk
Oct. 19 (BusinessDesk) - The New Zealand dollar rose above 72 US cents for the first time in two weeks as stronger-than-expected inflation figures at home and in the UK stoked speculation the era of ultra-low price increases may be ending. More >>
Intueri granted extension to respond to Australian audits
Wednesday, 19 October 2016, 4:56 pm | BusinessDesk
Oct. 19 (BusinessDesk) - Intueri Education Group has been granted an extension to respond to audits of its Australian subsidiaries Online Courses Australia and Conwal & Associates by the Australian Skills Quality Authority. More >>
Reward schemes see poorer households subsidise the well-off
Wednesday, 19 October 2016, 4:32 pm | BusinessDesk
Oct. 19 (BusinessDesk) - Poorer households in New Zealand are subsidising higher-income households to the tune of $59 million a year through credit card reward schemes, an issues paper from the Ministry of Business, Innovation and Employment says. More >>
TeamTalk outlines new strategy after review
Wednesday, 19 October 2016, 3:23 pm | BusinessDesk
Oct. 19 (BusinessDesk) - The board and management of TeamTalk, the telecommunications network company, have said it's undervalued and a new strategy will unlock "significant value for shareholders", though a resumption of dividends is some way off. More >>
Use new native forests to offset dairy emissions, says PCE
Wednesday, 19 October 2016, 2:54 pm | BusinessDesk
Oct. 18 (BusinessDesk) - Allowing marginal hill country to revert to permanent native bush and the fast-tracked development of a vaccine to massively reduce methane emissions created by the digestive systems of cows and sheep emerge as two key recommendations ... More >>
NZ Super Fund seeks to put a market price on climate change
Wednesday, 19 October 2016, 2:03 pm | BusinessDesk
Oct. 19 (BusinessDesk) - The New Zealand Superannuation Fund says it will devise a set of rules to assess investment winners and losers under climate change, a strategy that could rule out fossil fuels or producers such as current portfolio member Exxon ... More >>
Tegel shareholders express concern at weaker share price
Wednesday, 19 October 2016, 1:13 pm | BusinessDesk
Oct. 19 (BusinessDesk) - Tegel shareholders say they're concerned about the potential impact of escrow shares on the market and a drop in the poultry company’s share price which is trading 6 cents below the $1.55 price it sold at in its May initial ... More >>
Genesis Energy forecasts lower annual earnings
Wednesday, 19 October 2016, 1:04 pm | BusinessDesk
Oct. 19 (BusinessDesk) - Genesis Energy, New Zealand's largest electricity retailer, said lower oil prices, increased carbon costs and its "below market" contract with the struggling Tiwai Point aluminium smelter will weigh on earnings this year. More >>
King Salmon rises 3.6% in NZX debut
Wednesday, 19 October 2016, 12:59 pm | BusinessDesk
CORRECT: King Salmon rises 3.6% in NZX debut after existing shareholders use IPO to trim holdings More >>
Ebos sees full-year profit growth of 7-10%
Wednesday, 19 October 2016, 12:39 pm | BusinessDesk
Ebos first-quarter trading 'positive', sees full-year profit growth of 7-10% on constant currency basis More >>
Waterman Capital invests in My Food Bag ahead of IPO
Wednesday, 19 October 2016, 11:36 am | BusinessDesk
Oct. 19 (BusinessDesk) - My Food Bag Holdings, New Zealand's biggest home delivery meal kit service, has a new major investor, Auckland-based Waterman Capital, and plans to become a publicly listed company focussed on its home market. More >>
Z Energy identifies $10-$15 mln additional synergy benefits
Wednesday, 19 October 2016, 10:49 am | BusinessDesk
Oct. 19 (BusinessDesk) - Z Energy said it has identified $10 million to $15 million of additional savings from the integration of the Caltex and Z businesses, while the sale of an Auckland retail site for $23 million will be used to repay debt. More >>
AWF Madison buys Absolute IT for $15.3mn
Wednesday, 19 October 2016, 9:14 am | BusinessDesk
Oct. 19 (BusinessDesk) - AWF Madison Group, the country's largest contract labour company, has bought IT recruitment group Absolute IT for $15.3 million. More >>
