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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 526]
Contact turns focus towards debt reduction
Wednesday, 12 October 2016, 11:10 am | BusinessDesk
Oct. 12 (BusinessDesk) - Contact Energy, the electricity and gas provider, is turning its focus to reducing debt after returning $847 million to shareholders over the past two years. More >>
Pushpay maintains 2017 revenue and breakeven guidance
Wednesday, 12 October 2016, 11:09 am | BusinessDesk
Oct. 12 (BusinessDesk) - Pushpay Holdings, the mobile payments app developer, says it exceeded its guidance for the second quarter of 2017 and is on target to reach its forecast $100 million of annualised committed monthly revenue by the end of next ... More >>
MARKET CLOSE: NZ stocks snap downwards streak
Wednesday, 12 October 2016, 8:54 am | BusinessDesk
Oct. 11 (BusinessDesk) - New Zealand shares rose for the first time in a week, led by Sky Network Television, Tegel Group Holdings, and Mainfreight. More >>
NZ dollar soars to new decades-high vs. British pound
Wednesday, 12 October 2016, 8:50 am | BusinessDesk
Oct. 12 (BusinessDesk) - The New Zealand dollar climbed above 58 British pence as the sterling's weakness continued on fears the Brexit will see the UK step back from Europe's single market, with Bank of England policymakers noting further downside ... More >>
Auckland development blowouts reminiscent of run up to GFC
Wednesday, 12 October 2016, 8:23 am | BusinessDesk
Oct. 12 (BusinessDesk) - The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John ... More >>
Xero share trade didn't breach the law expert says
Wednesday, 12 October 2016, 8:20 am | BusinessDesk
Oct. 11 (BusinessDesk) - Australian-based expert Michael Aitken told the High Court that Mark Warminger’s trading in Xero shares in May 2014 showed several of the tell-tale signs of market manipulation. More >>
While you were sleeping: Alcoa results fall short
Wednesday, 12 October 2016, 7:48 am | BusinessDesk
Oct. 12 (BusinessDesk) - Wall Street dropped after Alcoa kicked off the US earnings season with quarterly results that missed estimates and an outlook that fell short of expectations. More >>
NZD drops below 71 US cents as RBNZ keeps to rate cut plan
Tuesday, 11 October 2016, 5:12 pm | BusinessDesk
The New Zealand dollar fell below 71 US cents for the first time in two months as Reserve Bank assistant governor John McDermott reaffirmed the bank's intention to cut interest rates further. More >>
RBNZ affirms rate cut bias to stoke moribund inflation
Tuesday, 11 October 2016, 4:46 pm | BusinessDesk
Oct. 11 (BusinessDesk) - The Reserve Bank still expects to cut interest rates further to try and stir inflation that's been kept low by a weak global economy, though the bank isn't concerned that consumer prices will start falling, says assistant governor ... More >>
Immigration policy tweaks capture senior executive migrants
Tuesday, 11 October 2016, 3:16 pm | BusinessDesk
Oct. 11 (BusinessDesk) - The government's changes to immigration policy for skilled migrants will exclude senior executives whose age and education doesn't meet the tougher criteria, and sends out the message that "New Zealand is closed for business", ... More >>
Expert tells Warminger trial of 7 tell-tale signs
Tuesday, 11 October 2016, 2:33 pm | BusinessDesk
Oct. 11 (BusinessDesk) - An Australian-based expert giving evidence in the trial of Milford Asset Management portfolio manager Mark Warminger has outlined seven tell-tale signs of market manipulation and said at least three need to be present to warrant ... More >>
NZ immigration policy tweaks to push down migrant access
Tuesday, 11 October 2016, 1:11 pm | BusinessDesk
Oct. 11 (BusinessDesk) - The government is pushing against growing demand to move to New Zealand with "small" changes to designed to reduce the number of people being granted residence, says Immigration Minister Michael Woodhouse. More >>
Stewart family emerges with substantial stake in SeaDragon
Tuesday, 11 October 2016, 12:37 pm | BusinessDesk
Christchurch's rich-lister Stewart family has built up a substantial stake in SeaDragon, exercising more than half the rights issued to prop up the fish oil manufacturer. More >>
Govt considering incentives to encourage forest planting
Tuesday, 11 October 2016, 11:38 am | BusinessDesk
Oct. 11 (BusinessDesk) - The government is considering measures to further encourage more forestry planting as it examines whether locally grown forests will be cheaper than buying foreign carbon credits to meet its climate change targets. More >>
NZ credit, debit card retail spending climbs 1.9%
Tuesday, 11 October 2016, 11:20 am | BusinessDesk
Oct. 11 (BusinessDesk) - New Zealand retail spending on electronic cards gained in September as the hospitality sector bounced back as the start of spring attracted more tourists. More >>
Professional service firms gain $475k of Hanover settlement
Tuesday, 11 October 2016, 8:58 am | BusinessDesk
Oct. 11 (BusinessDesk) - Professional service fees of $475,000, the bulk of which went to Deloitte, has been paid out to help distribute the $18 million settlement reached last year between the Financial Markets Authority and directors and promoters ... More >>
NZ dollar hits 2-month low
Tuesday, 11 October 2016, 8:51 am | BusinessDesk
Oct. 11 (BusinessDesk) - The New Zealand dollar fell to a two-month low as investors see a likely win by Democrat candidate Hillary Clinton in the US presidential campaign as paving the way for higher interest rates. More >>
Student-led fund raises $500,000 to invest in Kiwi founders
Tuesday, 11 October 2016, 8:49 am | BusinessDesk
Oct. 11 (BusinessDesk) - Student-led organisation First Cut Ventures is raising a half million dollar fund to provide early stage backing for Kiwi entrepreneurs aged under 30 years. More >>
Restaurant Brands agrees to guarantee hours and fixed shifts
Tuesday, 11 October 2016, 8:46 am | BusinessDesk
Oct. 10 (BusinessDesk) - Restaurant Brands NZ, the NZX-listed operator of franchises including KFC, Pizza Hut, Carl's Jr, and Starbucks, has agreed a deal with the Unite Union in which workers' hours and shifts will be guaranteed on a permanent basis. More >>
Key signals Cabinet reshuffle in New Year
Tuesday, 11 October 2016, 8:33 am | BusinessDesk
Oct. 10 (BusinessDesk) - Prime Minister John Key has all but confirmed he will reshuffle his Cabinet in the New Year and expects "one or two" ministerial resignations at the 2017 general election. More >>
