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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 525]
Bigger surplus than expected as migration stokes tax take
Thursday, 13 October 2016, 1:11 pm | BusinessDesk
Oct. 13 (BusinessDesk) - Finance Minister Bill English today announced a bigger surplus than expected in the last fiscal year as a growing economy underpinned by an expanding population delivered a bigger tax take than anticipated. More >>
NZ food prices decline in September
Thursday, 13 October 2016, 12:05 pm | BusinessDesk
Oct. 13 (BusinessDesk) - New Zealand food prices declined in September, impacted by cheaper bananas, lamb and chicken. More >>
Mark Warminger rejects market manipulation accusations
Thursday, 13 October 2016, 11:51 am | BusinessDesk
Oct. 13 (BusinessDesk) - “I never intended in any of these transactions to manipulate the market,” says Mark Warminger, the Milford Asset Management portfolio manager facing accusations of market manipulation over 10 trades in 2014. More >>
NZ manufacturing bounces back in September
Thursday, 13 October 2016, 11:02 am | BusinessDesk
Oct. 13 (BusinessDesk) - New Zealand manufacturing activity bounced back in September, lifting expansion levels after two consecutive months of softening expansion. More >>
NZ Refining to hold on to Independent Petroleum Lab unit
Thursday, 13 October 2016, 10:16 am | BusinessDesk
Oct. 13 (BusinessDesk) - New Zealand Refining, which operates the country's only oil refinery, has decided to keep its lab testing unit that's been up for sale since last year. More >>
NZ house prices hit new record
Thursday, 13 October 2016, 9:34 am | BusinessDesk
Oct. 13 (BusinessDesk) - New Zealand's median house price hit a new record in September as Auckland's growth slowed while six regions hit all-time highs, according to the Real Estate Institute of New Zealand. More >>
NZ dollar little changed
Thursday, 13 October 2016, 9:00 am | BusinessDesk
Oct. 13 (BusinessDesk) - The New Zealand dollar was little changed as minutes to the September meeting of the Federal Open Market Committee showed US policymakers saw a rate hike as being a "close call". More >>
While you were sleeping: Minutes cement December hike
Thursday, 13 October 2016, 7:46 am | BusinessDesk
Oct. 13 (BusinessDesk) - Wall Street rose, as did the US dollar, after minutes from the latest Federal Open Market Committee meeting underpinned bets the central bank will increase interest rates in December. More >>
MARKET CLOSE: NZ shares fall along with Asia
Wednesday, 12 October 2016, 7:03 pm | BusinessDesk
Oct. 12 (BusinessDesk) - New Zealand shares dropped, following regional markets lower, with Xero and Summerset Group Holdings declining while Air New Zealand and Mainfreight gained. More >>
Air NZ sells remaining stake in Virgin Australia
Wednesday, 12 October 2016, 5:28 pm | BusinessDesk
Air New Zealand has sold its remaining stake in Virgin Australia for A$65.7 million. In its monthly update to investors, the company said the sale was an off-market transaction with investors including the Nanshan Group. More >>
NZ dollar remains below 71 US cents ahead of Fed minutes
Wednesday, 12 October 2016, 5:07 pm | BusinessDesk
The New Zealand dollar strengthened against its US counterpart but remained below 71 cents ahead of the publication of Federal Reserve minutes overnight from the September meeting in which three of the 10 committee members wanted to raise rates a quarter-point. More >>
Norway's Tomra buys fruit sorter Compac for $70 million
Wednesday, 12 October 2016, 3:49 pm | BusinessDesk
Oct. 12 (BusinessDesk) - Norway's Tomra Systems has agreed to buy local fruit sorting company Compac Holdings for $70 million, subject to regulatory approval. More >>
Leader MD disputes that the food company is 'up for sale'
Wednesday, 12 October 2016, 3:47 pm | BusinessDesk
Oct. 12 (BusinessDesk) - Tony Peterson, managing director of frozen convenience food manufacturer Leader, has rubbished a report in the Australian Financial Review that the company is up for sale, though he says the company is "looking at opportunities". More >>
Mainfreight warns revenue levels 'less than expected'
Wednesday, 12 October 2016, 3:17 pm | BusinessDesk
Oct. 12 (BusinessDesk) - Mainfreight, the transport and logistics group, has warned investors first-half revenue will be less than expected due to falling ocean freight rates hitting billing levels. More >>
NZME, Fairfax lose digital ad share in growing market
Wednesday, 12 October 2016, 3:15 pm | BusinessDesk
Oct. 12 (BusinessDesk) - NZME and Fairfax New Zealand have lost market share in the digital ad space, while still growing revenue, as they continue to defend the proposed merger to create a dominant nationwide publisher. More >>
Appeal court knocks back Feltex shareholder suit
Wednesday, 12 October 2016, 1:50 pm | BusinessDesk
Oct. 12 (BusinessDesk) - The Court of Appeal has dismissed former Feltex Carpets shareholder Eric Houghton's long-running suit against the promoters and directors of the failed carpet-maker, saying the only conduct that could be deemed misleading ... More >>
Powerhouse raises A$10.2 mln in ASX listing
Wednesday, 12 October 2016, 1:43 pm | BusinessDesk
Oct. 12 (BusinessDesk) - Powerhouse Ventures, the Christchurch-based technology incubator, raised A$10.2 million in an initial public offering, with the shares debuting on the ASX at the offer price of A$1.07. More >>
Milford's Warminger given negative performance review
Wednesday, 12 October 2016, 1:41 pm | BusinessDesk
Oct. 12 (BusinessDesk) - Milford Asset Management portfolio manager Mark Warminger was “unlikely” to get a positive performance review because of the seriousness of the Financial Markets Authority inquiry into his suspected market manipulation, ... More >>
Fonterra shareholders back new governance model
Wednesday, 12 October 2016, 12:40 pm | BusinessDesk
Oct. 12 (BusinessDesk) - Fonterra Cooperative Group's shareholders have voted in favour of a new governance and representation model, with the key change being farmers can directly nominate their own choice for selection to the board. More >>
NZ guest nights hit record in August amid tourism boom
Wednesday, 12 October 2016, 11:27 am | BusinessDesk
Oct. 12 (BusinessDesk) - New Zealand accommodation providers saw record highs for an August month this year, driven by a surge in international visitors. More >>
