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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 528]
NZX milk futures fall below Fonterra forecast
Friday, 7 October 2016, 12:06 pm | BusinessDesk
Oct. 7 (BusinessDesk) - New Zealand milk price futures have fallen below Fonterra Cooperative Group's current farmgate payout forecast as traders doubt a sharp gain in prices can be sustained. More >>
Chorus gives more fibre work to Visionstream
Friday, 7 October 2016, 9:25 am | BusinessDesk
Oct. 7 (BusinessDesk) - Chorus has handed more of its New Zealand ultrafast broadband network building work to Australia's Visionstream, while warning the cost of the project will be at the top end of its projected range More >>
NZ dollar extends decline ahead of key US job figures
Friday, 7 October 2016, 8:57 am | BusinessDesk
Oct. 7 (BusinessDesk) - The New Zealand dollar extended its decline, trading near a two-month low, as looming US employment data keep the prospect of a rate hike by the Federal Reserve at the front of investors' minds. More >>
NZ dollar near two-month low
Friday, 7 October 2016, 8:55 am | BusinessDesk
Oct. 6 (BusinessDesk) - The New Zealand dollar held near a two-month low against the greenback as recent data from the world's biggest economy keep investors upbeat on the prospects for US interest rates to rise before the end of the year. More >>
Call for independent review of electricity pricing reforms
Friday, 7 October 2016, 8:50 am | BusinessDesk
Oct. 6 (BusinessDesk) - An independent external review and better processes are needed before the Electricity Authority proceeds with the latest reform of how the national grid is paid for, says a group of consumer trusts, businesses, farming, ... More >>
Tech-based incubators get two years extra govt funding
Friday, 7 October 2016, 8:45 am | BusinessDesk
Oct. 6 (BusinessDesk) - The government has extended funding for the three technology incubators for a further two years after a Ministry of Business, Innovation & Employment review of the start-up eco-system. More >>
While you were sleeping: Wal-Mart, Twitter slide
Friday, 7 October 2016, 7:44 am | BusinessDesk
Oct. 7 (BusinessDesk) - Wall Street was mixed as investors awaited Friday’s nonfarm payrolls report to gauge the timing of a Federal Reserve interest rate hike. More >>
MARKET CLOSE: NZ shares drop again
Thursday, 6 October 2016, 7:46 pm | BusinessDesk
Oct. 6 (BusinessDesk) - New Zealand shares dropped more than 1 percent for the second day running, with Heartland Bank, Xero and Sky Network Television leading the decline. More >>
Brierley's Mercantile crosses 90% threshold in takeover
Thursday, 6 October 2016, 2:31 pm | BusinessDesk
Oct. 6 (BusinessDesk) - Ron Brierley's Mercantile NZ has crossed the 90 percent threshold in its takeover bid for Wellington Merchants, formerly known as Kirkcaldie & Stains, triggering provisions to mo-up the remaining shares. More >>
Retirement village operators take on more debt
Thursday, 6 October 2016, 2:13 pm | BusinessDesk
Oct. 6 (BusinessDesk) - Increasing debt being taken on by some retirement village operators makes the state of the housing market a more important factor for investors to consider, according to a detailed report on the sector by First NZ Capital. More >>
Crown seeks jail time for Ngatata Love
Thursday, 6 October 2016, 1:17 pm | BusinessDesk
Oct. 6 (BusinessDesk) - Crown prosecutors want former Treaty negotiator Ngatata Love to serve jail time for obtaining $1.5 million by deception while chairman of the Wellington Tenths Trust. More >>
Eroad shares bounce higher
Thursday, 6 October 2016, 12:14 pm | BusinessDesk
Oct. 6 (BusinessDesk) - Shares in Eroad bounced from a record low after the logistics and fleet management company said its stock price didn't reflect the underlying value of the business. More >>
NZ Super Fund's investments in NZ drop
Thursday, 6 October 2016, 12:10 pm | BusinessDesk
Oct. 6 (BusinessDesk) - The New Zealand Superannuation Fund has reduced the portion of the fund invested in New Zealand to 14.79 percent of its value from 21.3 percent in 2009 despite a ministerial directive to eventually increase the allocation to ... More >>
Affco loses bid to overturn ruling on unlawful lockouts
Thursday, 6 October 2016, 12:07 pm | BusinessDesk
Oct. 6 (BusinessDesk) - Affco New Zealand lost its bid to throw out a ruling that it unlawfully locked out meat workers when collective bargaining was taking place. More >>
Ngatata Love sentencing delayed over health concerns
Thursday, 6 October 2016, 10:31 am | BusinessDesk
Oct. 6 (BusinessDesk) - Former Treaty negotiator Ngatata Love's sentencing over his dealings with property developers while chairman of the Wellington Tenths Trust has been delayed as his legal counsel consults his doctors about the effect prison ... More >>
Corrections beefs up contract oversight
Thursday, 6 October 2016, 10:13 am | BusinessDesk
Oct. 6 (BusinessDesk) - The Department of Corrections has beefed up its oversight of external contracts with an independent advisory board and set up new reporting lines for prison monitors as part of its response to Serco's failure in running the ... More >>
Better than expected US data keeps investors upbeat
Thursday, 6 October 2016, 9:06 am | BusinessDesk
Oct. 6 (BusinessDesk) - The New Zealand dollar dipped as another upbeat US economic report kept investors optimistic the Federal Reserve will raise interest rates before the end of the year, stoking demand for the greenback. More >>
While you were sleeping: US stocks lift on oil
Thursday, 6 October 2016, 7:30 am | BusinessDesk
Oct. 6 (BusinessDesk) - Wall Street rose in a broad rally with the price of oil on an unexpected drop in US stockpiles and better-than-expected data on the US services industry. More >>
MARKET CLOSE: NZ shares follow Wall St lower on US outlook
Wednesday, 5 October 2016, 9:03 pm | BusinessDesk
Oct. 5 (BusinessDesk) - New Zealand shares followed Wall Street lower on renewed speculation the US Federal Reserve will raise interest rates later this year, dimming the attraction of stocks. Tegel Group Holdings, Genesis Energy and Orion Health Group ... More >>
NZ dollar drops to seven-week low on weaker dairy prices
Wednesday, 5 October 2016, 5:31 pm | BusinessDesk
NZ dollar drops to seven-week low on weaker dairy prices, speculation ECB may start slowing QE More >>
