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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 541]
Vodafone pleads guilty to making false price representations
Wednesday, 14 September 2016, 4:18 pm | BusinessDesk
Sept. 14 (BusinessDesk) - Vodafone New Zealand has been fined $165,000 after pleading guilty to making false price representations to customers on its 'Red Essentials' mobile phone plan, its fourth conviction under the Fair Trading Act in the past five ... More >>
Fonterra offered inferior deal to farmers out of revenge
Wednesday, 14 September 2016, 3:59 pm | BusinessDesk
Sept. 14 (BusinessDesk) - Fonterra Cooperative Group held a grudge against farmers who had left and offered them a worse deal than the rest of its suppliers as an act of revenge when it bought a failed Canterbury dairy business out of receivership, ... More >>
Government funding of Auckland rail link eases pressures
Wednesday, 14 September 2016, 3:12 pm | BusinessDesk
Sept. 14 (BusinessDesk) - The government's agreement to pay for half of Auckland city's proposed 3.4 kilometre inner city rail link will help ease the city's funding pressures, the Local Government Funding Agency says. More >>
Goodman Property docks at Alloy Yachts Henderson site
Wednesday, 14 September 2016, 2:47 pm | BusinessDesk
Sept. 14 (BusinessDesk) - Goodman Property Trust, the NZX-listed commercial and industrial property investor, is to buy two adjoining industrial sites in the Henderson suburb of Auckland for $18.9 million. More >>
Turners says pretax earnings may rise 14% in first half
Wednesday, 14 September 2016, 12:06 pm | BusinessDesk
Sept. 14 (BusinessDesk) - Turners Group, the financial services firm formerly known as Dorchester Pacific, said pretax earnings may rise 14 percent in the first half, putting the company on track for annual profit growth. More >>
NZ exports to Iran held back as banks fear hefty penalties
Wednesday, 14 September 2016, 12:01 pm | BusinessDesk
Sept. 14 (BusinessDesk) - New Zealand's export trade with Iran hasn't picked up as hoped following the lifting of sanctions in February because the country's banks are wary of potential fines or exclusions from the US banking system should they ... More >>
NZ current account turns to deficit
Wednesday, 14 September 2016, 11:17 am | BusinessDesk
Sept. 14 (BusinessDesk) - New Zealand’s current account balance turned to a deficit in the second quarter as a drop in services more than offset a pickup in exports. More >>
NZ house prices advance in August as supply remains tight
Wednesday, 14 September 2016, 10:57 am | BusinessDesk
Sept. 14 (BusinessDesk) - New Zealand house prices continued to advance in August, with both Auckland and the Nelson/Marlborough region hitting new records, as the number of properties put up for sale declines, according to the Real Estate Institute ... More >>
NZ dollar drops two 2-week low as risk aversion returns
Wednesday, 14 September 2016, 8:52 am | BusinessDesk
Sept. 14 (BusinessDesk) - The New Zealand dollar dropped to a two-week low as equities, bonds and commodities fell and investors eschewed riskier assets in favour of the greenback. More >>
MARKET CLOSE: NZ shares fall again
Wednesday, 14 September 2016, 8:20 am | BusinessDesk
Sept. 13 (BusinessDesk) - New Zealand's share slump continued for a second day, with Mercury and Auckland International Airport leading the index lower. More >>
While you were sleeping: Stocks slide with oil
Wednesday, 14 September 2016, 7:30 am | BusinessDesk
Sept. 14 (BusinessDesk) - Wall Street dropped with the price of oil after reports from OPEC and the International Energy Association showed that the global glut won’t abate any time soon. More >>
NZ dollar gains after Fed cools US rate hike expectations
Tuesday, 13 September 2016, 5:18 pm | BusinessDesk
The New Zealand dollar gained after Federal Reserve governor Lael Brainard cooled expectations for a US rate hike next week, while the domestic economy continues to stoke demand for the kiwi. More >>
Jade Software targets early return to profit
Tuesday, 13 September 2016, 4:24 pm | BusinessDesk
Sept. 13 (BusinessDesk) - Jade Software expects to return to profitability ahead of its target of late 2017 as customers show renewed vigor in buying the software developer's port management software. More >>
Former NZDL suppliers shouldn't qualify for DIRA - Fonterra
Tuesday, 13 September 2016, 2:24 pm | BusinessDesk
Sept. 13 (BusinessDesk) - Farmers who ended up supplying Fonterra Cooperative Group when it bought a failed Canterbury dairy business out of receivership shouldn't be entitled to the benefits provides to its shareholder farmers, the Court of Appeal ... More >>
ContainerCo weighs up funding options
Tuesday, 13 September 2016, 2:03 pm | BusinessDesk
Sept. 13 (BusinessDesk) - ContainerCo (NZL) is weighing up options to fund "significant growth opportunities" to beef up the container depot operator's level of automated equipment and potentially see it expand overseas. More >>
NZ food prices jump in August
Tuesday, 13 September 2016, 11:30 am | BusinessDesk
Sept. 13 (BusinessDesk) - New Zealand food prices posted their biggest monthly increase in at least three years in August as produce and grocery items got more expensive. More >>
Shanghai Maling bid to buy Silver Fern Farms stake
Tuesday, 13 September 2016, 10:14 am | BusinessDesk
Sept. 13 (BusinessDesk) - New Zealand's Overseas Investment Office has sent its recommendation on a proposal for China's Shanghai Maling Aquarius to acquire a half stake in Silver Fern Farms, New Zealand's largest meat processor, to the relevant ... More >>
Fed's Brainard warns against hiking US rates too early
Tuesday, 13 September 2016, 8:52 am | BusinessDesk
Sept. 13 (BusinessDesk) - The New Zealand dollar gained after Federal Reserve governor Lael Brainard warned against hiking interest rates too early, citing tepid inflation and a slack labour market, which cooled speculation the US central bank may be poised ... More >>
Australia Commonwealth Bank leads research on social robots
Tuesday, 13 September 2016, 8:26 am | BusinessDesk
Sept. 13 (BusinessDesk) - One of the biggest opportunities to revolutionise technological design is developing social robots that can work alongside humans, says Commonwealth Bank of Australia innovation solutions manager Will Judge. More >>
NZ shares tumble on interest rate concerns
Tuesday, 13 September 2016, 8:07 am | BusinessDesk
Sept. 12 (BusinessDesk) - New Zealand shares plunged in the biggest sell-off since before Brexit, joining a global rout on concerns interest rates are set to rise and high-yielding companies will be hardest hit. Tower, Fletcher Building and Air New ... More >>
