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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 531]
MARKET CLOSE: NZ shares gain at end of quarter
Friday, 30 September 2016, 7:21 pm | BusinessDesk
Sept. 30 (BusinessDesk) - New Zealand shares gained, with turnover peaking for the week as investors tidied their portfolios. Sky Network Television and Scales Corp gained while Meridian Energy fell. More >>
NZ dollar heads for 1.9% gain in September quarter
Friday, 30 September 2016, 5:30 pm | BusinessDesk
NZ dollar heads for 1.9% gain in September quarter; bank stocks keep investors on edge More >>
Air NZ reiterates warning of increased competition
Friday, 30 September 2016, 5:14 pm | BusinessDesk
Sept. 30 (BusinessDesk) - Air New Zealand, the country’s national airline, reiterated its warning to shareholders that increased competition will hurt revenue this financial year. More >>
ACC buys high, sells low as Intueri surprises investors
Friday, 30 September 2016, 4:53 pm | BusinessDesk
Sept. 30 (BusinessDesk) - Fund managers including those at the Accident Compensation Corp were among sellers of Intueri Education Group shares this week that sent the company to a record low in the wake of a cascade of bad news. More >>
Bapcor bid gives Hellaby shareholders easy exit
Friday, 30 September 2016, 4:18 pm | BusinessDesk
Sept. 30 (BusinessDesk) - ASX-listed Bapcor's $322.5 million takeover offer gives existing shareholders an easy exit from a traditionally thinly traded stock and would avoid the fall-out of automotive firms going head-to-head, chief executive Darryl ... More >>
Air NZ considers $75 mln bond offer
Friday, 30 September 2016, 3:29 pm | BusinessDesk
Sept. 30 (BusinessDesk) - Air New Zealand is considering a $75 million retail bond offer next month to partially repay the upcoming maturity of an existing note. More >>
NZ business outlook improves in September on expected profit
Friday, 30 September 2016, 1:47 pm | BusinessDesk
New Zealand firms had a more positive outlook in September about both their own prospects and the wider economy, with employment intentions and profit expectations rising. More >>
Fairfax to wind up staff pension schemes
Friday, 30 September 2016, 11:55 am | BusinessDesk
Sept. 29 (BusinessDesk) - Fairfax New Zealand, the newspaper publisher seeking to merge with rival NZME, will wind up its two staff pension schemes today as dwindling membership coincided with multiple rounds of job cuts in recent years, while new ... More >>
Singapore Airlines lifts 2016 profit in NZ
Friday, 30 September 2016, 11:53 am | BusinessDesk
Sept. 30 (BusinessDesk) - The New Zealand branch of Singapore Airlines lifted annual profit by 63 percent as cheap jet fuel helped the airline fatten margins while reaping smaller passenger revenues. More >>
NZ residential building consents fall for a second month
Friday, 30 September 2016, 11:30 am | BusinessDesk
Sept. 30 (BusinessDesk) - New Zealand residential building consents fell for a second month as more permits for new houses couldn't offset a dip in the more volatile intentions to construct apartments and retirement village units. More >>
CBL raises $60 million in 'heavily oversubscribed' placement
Friday, 30 September 2016, 10:23 am | BusinessDesk
Sept. 30 (BusinessDesk) - CBL Corp completed the first tranche of a planned capital raising in a "heavily oversubscribed" placement, selling $60 million of new shares at an 8.2 percent discount. More >>
Westland Milk pours land into new joint-venture
Friday, 30 September 2016, 9:41 am | BusinessDesk
Sept. 30 (BusinessDesk) - Westland Milk is putting a $3 million plot of land next to its Rolleston factory into a new joint venture with Hong Kong-listed Ausnutria Dairy to build a new infant formula plant operating under the Pure Nutrition moniker. More >>
Dollar falls as fears over bank stocks weigh on US equities
Friday, 30 September 2016, 8:57 am | BusinessDesk
Sept. 30 (BusinessDesk) - The New Zealand dollar followed stocks on Wall Street lower as several hedge funds scaled back their business with Deutsche Bank, triggering fears the US Department of Justice's US$14 billion claim against the financial institution ... More >>
Vector sees early interest in peer-to-peer trading platform
Friday, 30 September 2016, 8:51 am | BusinessDesk
Sept. 29 (BusinessDesk) - Simon Mackenzie, chief executive of Auckland lines company Vector, says there has been early interest from both buyers and sellers in the peer-to-peer energy trading platform that it’s trialling in New Zealand from December with Perth ... More >>
Pumpkin Patch loss widens as sales slide, debt mounts
Friday, 30 September 2016, 8:49 am | BusinessDesk
Sept. 29 (BusinessDesk) - Pumpkin Patch's annual loss widened by 71 percent as the indebted children and babywear retailer's revenue sank with store closures and as its international wholesale business struggled. More >>
While you were sleeping: Financial stocks slide
Friday, 30 September 2016, 7:53 am | BusinessDesk
Sept. 30 (BusinessDesk) - Wall Street dropped, with financial and health care stocks leading the way. More >>
Intueri plans to merge 6 NZ training schools
Friday, 30 September 2016, 12:08 am | BusinessDesk
Sept. 29 (BusinessDesk) - Intueri Education Group plans to merge six training schools in New Zealand into a single entity in an amalgamation that it says will simplify its relationship with the Tertiary Education Commission and the NZ Qualifications ... More >>
MARKET CLOSE: NZ shares rise in global rally
Friday, 30 September 2016, 12:04 am | BusinessDesk
Sept. 29 (BusinessDesk) - New Zealand shares rose as global markets were encouraged by reports of a deal to ease the glut of crude oil. Orion Health Group, Fisher & Paykel Healthcare Corp and Auckland International Airport led the index. More >>
NZ dollar gains with commodity currency upswing
Thursday, 29 September 2016, 5:28 pm | BusinessDesk
Sept. 29 (BusinessDesk) - The New Zealand dollar gained after an announcement by the Organisation of the Petroleum Exporting Countries that they would reduce production to underpin prices lifted sentiment for commodity currencies including the Aussie. More >>
HydroWorks to raise another A$1.5M ahead of ASX listing
Thursday, 29 September 2016, 5:11 pm | BusinessDesk
Sept. 29 (BusinessDesk) - HydroWorks, a Christchurch-based hydro-electricity turbine innovator, is going across the Tasman to raise A$1.5 million, having just raised the almost same amount in New Zealand, ahead of an ASX listing slated for the first ... More >>
