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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 532]
Innovation and infrastructure still holding back NZ
Thursday, 29 September 2016, 4:28 pm | BusinessDesk
Sept. 29 (BusinessDesk) - New Zealand's national infrastructure and capacity to innovate stand out as two factors that continue to drag on the country's international competitiveness, even as it rose three places in the ranks from last year and 10 places better than ... More >>
UPDATE: Christchurch council company meets first deadline
Thursday, 29 September 2016, 4:26 pm | BusinessDesk
Sept. 29 (BusinessDesk) - Christchurch City Holdings Ltd, the city council's investment unit, has met its target under the city's long-term strategy by paying a $90 million dividend, the first installment of a plan to return $600 million by the end of 2019 ... More >>
CCHL nearly triples dividend payout with special payment
Thursday, 29 September 2016, 2:18 pm | BusinessDesk
Sept. 29 (BusinessDesk) - Christchurch City Holdings Ltd, the city council's investment unit, pulled cash out of its power company Orion New Zealand to almost triple its dividend payment, adding a special $90 million contribution to the city's long-term ... More >>
Goldman Sachs NZ trading under scrutiny in trial
Thursday, 29 September 2016, 2:17 pm | BusinessDesk
Sept. 29 (BusinessDesk) - Trading by Goldman Sachs has come under the scrutiny of lawyers representing Milford Asset Management portfolio fund manager Mark Warminger in a High Court trial on market manipulation. More >>
Plexure's annualised revenue rises to $7.1M
Thursday, 29 September 2016, 12:53 pm | BusinessDesk
Sept. 29 (BusinessDesk) - Plexure Group, the digital advertising firm formerly known as VMob, has increased annualised committed monthly revenue (ACMR) by almost a third with a view to reaching $10 million mark by the end of the year, and is considering ... More >>
RBNZ to pay $140 million dividend from FX gains
Thursday, 29 September 2016, 11:45 am | BusinessDesk
Sept. 29 (BusinessDesk) - The Reserve Bank will pay a $140 million dividend to the government, using up some of the near $1 billion of investment gains built up from prior years. More >>
Airport wants to re-start process for runway extension
Thursday, 29 September 2016, 11:19 am | BusinessDesk
Sept. 29 (BusinessDesk) - Wellington International Airport has asked the city and regional councils to re-start its application to extend the runway. More >>
Z Energy more than halfway through divestments
Thursday, 29 September 2016, 10:43 am | BusinessDesk
Sept. 29 (BusinessDesk) - Z Energy has signed contracts to sell 12 of the 20 sites it has to quit as part of its acquisition of Chevron New Zealand and is negotiating contracts for the rest. More >>
Tertiary education system set up to preserve status quo
Thursday, 29 September 2016, 10:40 am | BusinessDesk
Sept. 28 (BusinessDesk) - New Zealand's tertiary education system is set up in ways that preserve the status quo, discourage innovation, encourage high-cost models, and reward the largest providers for gaming the system to be able to 'cry poor', ... More >>
CBL to raise up to $63 mln to accelerate expansion plans
Thursday, 29 September 2016, 9:09 am | BusinessDesk
Sept. 29 (BusinessDesk) - CBL Corp, which sells credit surety and financial risk insurance, plans to raise up to $63 million in a share placement to institutional investors and a share purchase plan, giving it more headroom to pursue growth opportunities. More >>
Fed officials fail to give new direction
Thursday, 29 September 2016, 8:48 am | BusinessDesk
Sept. 29 (BusinessDesk) - The New Zealand dollar was little changed after appearances by top Federal Reserve officials did little to change market perceptions of the timing of interest rate hikes in the US. More >>
While you were sleeping: Oil climbs on OPEC deal
Thursday, 29 September 2016, 7:59 am | BusinessDesk
Sept. 29 (BusinessDesk) - Oil prices jumped, while stocks on Wall Street rose, on a report that OPEC reached an agreement to limit output. More >>
MARKET CLOSE: NZ shares gain
Wednesday, 28 September 2016, 11:15 pm | BusinessDesk
Sept. 28 (BusinessDesk) - New Zealand shares rose, with Chorus, Orion Health Group and Air New Zealand recovering losses, while Tower resumed its fall. More >>
NZD retreats from presidential-debate highs
Wednesday, 28 September 2016, 5:29 pm | BusinessDesk
Sept. 28 (BusinessDesk) - The New Zealand dollar retreated from its overnight highs on speculation figures over the next two weeks will point to an improving US economy, making a Federal Reserve rate hike in December more likely. More >>
Consensus on need for bigger environmental regime overhaul
Wednesday, 28 September 2016, 5:23 pm | BusinessDesk
A new coalition of environmental, business and infrastructure lobby groups has added new weight to a growing consensus that the 25 year-old Resource Management Act is failing both to allow sufficient development and to protect the environment. More >>
Smuggler Marine removes references to Sealegs technology
Wednesday, 28 September 2016, 4:56 pm | BusinessDesk
Sept. 28 (BusinessDesk) - Smuggler Marine, an Auckland-based boatbuilder, has removed references to Sealegs Corp amphibious boat technology from its website ahead of an application for a High Court injunction next month over the alleged infringement ... More >>
Intueri retains support of lender ANZ
Wednesday, 28 September 2016, 4:32 pm | BusinessDesk
Sept. 28 (BusinessDesk) - Intueri Education Group, the private education group whose shares collapsed on Tuesday in response to a warning about Australian government audits that threatened its viability, has told investors it retains the support of ... More >>
New NZX market manipulation guidance raised in trial
Wednesday, 28 September 2016, 4:24 pm | BusinessDesk
Sept. 28 (BusinessDesk) - A joint NZX/Financial Markets Authority collaboration on providing more guidance to the securities industry on the scope of permissible trading conduct was raised today in the country’s first market manipulation trial. More >>
Milford sells down stake in Wynyard as shares slump
Wednesday, 28 September 2016, 4:01 pm | BusinessDesk
Sept. 28 (BusinessDesk) - Milford Asset Management has reduced its holding in crime fighting software company, Wynyard Group, taking its ownership to 5.7 percent from 7.6 percent in December last year. More >>
Seadragon's talks with new cornerstone investor collapse
Wednesday, 28 September 2016, 3:41 pm | BusinessDesk
Sept. 28 (BusinessDesk) - Seadragon, the fish-oil refiner, has warned investors that preliminary talks with a potential new cornerstone investor have failed. More >>
