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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 524]
Steel & Tube buys Composite Floor Decks for $13.3 mln
Friday, 14 October 2016, 5:05 pm | BusinessDesk
Steel & Tube Holdings will buy Composite Floor Decks, which supplies and installs composite floor decking, for $13.3 million, with a further $3 million possible based on its performance over the next two years. More >>
Social media analytics provide skewed view of customer needs
Friday, 14 October 2016, 4:41 pm | BusinessDesk
Oct. 14 (BusinessDesk) - Social media provides a skewed view of public opinion and doesn't allow you to understand the people you want as your customers, according to Jason Mayden, the former lead designer for Nike's Jordan brand. More >>
Heartland pumps in $4 mln to Harmoney to boost stake
Friday, 14 October 2016, 3:53 pm | BusinessDesk
Oct. 14 (BusinessDesk) - Heartland Bank, the NZX-listed lender, has lifted its stake in Harmoney Corp, injecting $4 million of new equity into the peer-to-peer lender. More >>
Stonewood Homes targets South Auckland
Friday, 14 October 2016, 3:44 pm | BusinessDesk
Oct. 14 (BusinessDesk) - Stonewood Homes, which joined the growing empire of Wellington property developers the Chow brothers this year, is seeking growth in South Auckland by setting up a joint venture with real estate agent Don Ha. More >>
NZ corporates commit to electric vehicle fleet expansion
Friday, 14 October 2016, 1:12 pm | BusinessDesk
Oct. 14 (BusinessDesk) - Thirty of New Zealand's largest companies are committing to at least 30 percent of their corporate fleets being electric vehicles by 2019. More >>
NZ tourism boom lifts fortunes of Chateau Tongariro
Friday, 14 October 2016, 12:30 pm | BusinessDesk
Oct. 14 (BusinessDesk) - New Zealand's booming tourism market is helping lift the fortunes of one of the country's most iconic hotels, the Chateau Tongariro on Mt Ruapehu, with the company that owns it expecting to produce a profit for the first ... More >>
More transparency for Fonterra's off-GDT sales required
Friday, 14 October 2016, 11:26 am | BusinessDesk
Oct. 14 (BusinessDesk) - The Commerce Commission wants Fonterra Cooperative Group to provide greater insight into the sale of reference products off the GlobalDairyTrade platform which feed into the regulated milk price. More >>
Tenon to return $100mn to shareholders if US sale goes ahead
Friday, 14 October 2016, 10:47 am | BusinessDesk
Oct. 14 (BusinessDesk) - Taupo-based wood processor Tenon has applied to the High Court for orders to seek shareholder approval to return $100 million in capital through a share cancellation, as part of Blue Wolf Capital's potential acquisition of its ... More >>
NZOG gets permit extension to Barque prospect
Friday, 14 October 2016, 10:17 am | BusinessDesk
Oct. 14 (BusinessDesk) - New Zealand Oil & Gas has been granted an extension to its Clipper exploration permit for the Barque prospect in the Canterbury Basin, which it says could be bigger than Taranaki's Maui. More >>
Hill family sells down stake in Michael Hill for A$25.6M
Friday, 14 October 2016, 9:56 am | BusinessDesk
Hill family sells down stake in Michael Hill for A$25.6M to 'enhance liquidity' on ASX More >>
Norway's Statoil quits Reinga Basin
Friday, 14 October 2016, 9:42 am | BusinessDesk
Oct. 14 (BusinessDesk) - Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was "too low". More >>
NZ dollar rises from 10-month low
Friday, 14 October 2016, 8:59 am | BusinessDesk
Oct. 14 (BusinessDesk) - The New Zealand dollar rose from a 10-month low as weaker-than-expected Chinese trade figures deflated some optimism in global markets that's been underpinning the greenback's strength. More >>
Rocketman Peter Beck wins EY NZ Entrepreneur of the Year
Friday, 14 October 2016, 8:57 am | BusinessDesk
Oct. 14 (BusinessDesk) - Rocket Lab founder Peter Beck, who plans to test-fire a one million-horsepower Electron rocket from the East Coast’s Mahia Peninsula later this year, has been named as the 2016 EY New Zealand Entrepreneur of the Year. More >>
MARKET CLOSE: NZ shares mixed, Air NZ hits 2yr low
Friday, 14 October 2016, 8:29 am | BusinessDesk
Oct. 13 (BusinessDesk) - New Zealand shares were mixed as Air New Zealand hit a two-year low in the face of increased competition, while Tegel Holdings and Fletcher Building climbed. More >>
While you were sleeping: China concerns resurface
Friday, 14 October 2016, 7:44 am | BusinessDesk
Oct. 14 (BusinessDesk) - Equities on both sides of the Atlantic moved lower as weaker-than-expected data from China revived concern about the juggernaut economy at a time the US Federal Reserve is widely expected to raise interest rates soon. More >>
Scott Technology lifts 2016 pre-tax profit 36%
Thursday, 13 October 2016, 5:31 pm | BusinessDesk
Oct. 13 (BusinessDesk) - Scott Technology has reported a record $11 million in full-year pre-tax profits as the industrial robotics firm benefits from rising interest globally in automation as companies seek to reduce costs and boost productivity. More >>
Kiwi touches 10-week low against US dollar as easing looms
Thursday, 13 October 2016, 5:20 pm | BusinessDesk
Oct. 13 (BusinessDesk) - The Kiwi hit a ten-week low against the US dollar in trading on Thursday, going as low as 70.36 cents against the greenback as economic data showed food prices in New Zealand fell and the pace of house price rises in Auckland eased ... More >>
Potential benefits from manipulation would have been minimal
Thursday, 13 October 2016, 3:45 pm | BusinessDesk
Oct. 13 (BusinessDesk) - If the allegations of market manipulation made against Milford Asset Management portfolio manager Mark Warminger were true the performance fee benefit would have been just $600, the High Court has been told. More >>
Ryman buys site of former school in Melbourne suburb
Thursday, 13 October 2016, 2:57 pm | BusinessDesk
Oct. 13 (BusinessDesk) - Ryman Healthcare, the country's biggest listed retirement home operator, is to redevelop a former school in the Coburg suburb of Melbourne. More >>
NZ consumer confidence improves in October
Thursday, 13 October 2016, 1:59 pm | BusinessDesk
Oct. 13 (BusinessDesk) - New Zealand consumer confidence rose in October as rising house prices and a strong labour market keep people upbeat, further supporting economic growth. More >>
