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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 543]
Trustpower sets out demerger vision to shareholders
Friday, 9 September 2016, 12:40 pm | BusinessDesk
Sept. 9 (BusinessDesk) - Shareholders in energy and telecoms retailer Trustpower have been hearing the board's plan to carve out its windfarms and renewable development pipeline, splitting the company into two separate businesses that would be listed ... More >>
NZ retail spending on credit, debit cards falls 0.4%
Friday, 9 September 2016, 11:57 am | BusinessDesk
Sept. 9 (BusinessDesk) - Spending on electronic cards fell in August, led by a decline at hospitality venues after two strong tourist-fuelled months. More >>
Veritas gets agreement from bank for reduced debt payments
Friday, 9 September 2016, 10:46 am | BusinessDesk
Sept. 9 (BusinessDesk) - Veritas, the listed hospitality company which owns the Mad Butcher franchise and Nosh Food Markets, has agreed a deal with its bank to reduce debt repayments and reschedule its debt. More >>
Asset manager warns on NZ market's ability to handle fund
Friday, 9 September 2016, 10:40 am | BusinessDesk
Sept. 9 (BusinessDesk) - Global asset manager Russell Investments has warned New Zealand needs to have more companies listed on the stock market and more equity managers who actively manage their portfolios due to the large flow of Kiwisaver funds seeking ... More >>
Ryman buys site on Melbourne's Mornington Peninsula
Friday, 9 September 2016, 9:51 am | BusinessDesk
Sept. 9 (BusinessDesk) - Ryman Healthcare has bought a site in Melbourne's Mornington Peninsula as part of its planned expansion into Australia. More >>
NZ dollar falls from recent highs as ECB policy unchanged
Friday, 9 September 2016, 9:02 am | BusinessDesk
Sept. 9 (BusinessDesk) - The New Zealand dollar retreated from a 16-month high as some traders deemed it had risen too far, too fast, and after the European Central Bank disappointed the market by not flagging any additional easing measures. More >>
MARKET CLOSE: Tower falls 19% to hit 12-year low
Friday, 9 September 2016, 8:02 am | BusinessDesk
Sept. 8 (BusinessDesk) - New Zealand shares fell as several large cap stocks gave up dividend rights, while insurer Tower dropped to a 12-year low. More >>
While you were sleeping: Apple, Nike weigh on Wall St
Friday, 9 September 2016, 7:41 am | BusinessDesk
Sept. 9 (BusinessDesk) - Wall Street moved lower as slides in Nike and Apple shares outweighed a gain in energy stocks. More >>
NZ dollar gains as dairy prices, high rates draw investors
Thursday, 8 September 2016, 5:25 pm | BusinessDesk
The New Zealand dollar rose, having climbed above 79 on a trade-weighted basis for the first time in 17 months, as the rebound in dairy prices and relatively high-interest rates, combined with softer data out of the US helped drive investors to the local ... More >>
High Court overturns debt compromise, Trends Publishing case
Thursday, 8 September 2016, 4:48 pm | BusinessDesk
Sept. 8 (BusinessDesk) - The High Court has ruled a compromise agreement reached between magazine publisher Trends Publishing International and its creditors last year be set aside due to a "fundamental misuse of the compromise process" ... More >>
Pan Pacific Petroleum applies to delist from NZX
Thursday, 8 September 2016, 4:15 pm | BusinessDesk
Sept. 8 (BusinessDesk) - Pan Pacific Petroleum has applied for voluntary delisting from the NZX due to low trading volumes, though it will stay on the ASX. More >>
Spark backs fibre access rule review
Thursday, 8 September 2016, 3:36 pm | BusinessDesk
Sept. 8 (BusinessDesk) - Frustrated customers are cancelling their fibre contracts due to installation delays, and two-thirds of those who get connected say they're unhappy with the process, representatives from Spark New Zealand have told the Commerce ... More >>
Smiths City directors survive Brierley putsch
Thursday, 8 September 2016, 2:40 pm | BusinessDesk
Sept. 8 (BusinessDesk) - Smiths City Group chairman Craig Boyce and fellow directors Gary Rohloff and Tony Allison have survived an attempt by Ron Brierley's Mercantile Investments to oust them from the board. More >>
Fuelled offering cash-flow product to SMES via Xero
Thursday, 8 September 2016, 2:38 pm | BusinessDesk
Sept. 8 (BusinessDesk) - Wellington-based Fuelled is offering small businesses a quick way out of their cash flow difficulties in a partnership with accounting software firm Xero. More >>
ProTen plans to expand chicken farming in New South Wales
Thursday, 8 September 2016, 12:40 pm | BusinessDesk
Sept. 8 (BusinessDesk) - ProTen, Australia’s largest independent contract grower of broiler chickens for meat, plans to develop more chicken sheds in Tamworth, New South Wales, increasing its total production to as much as 87 million chickens a ... More >>
Moa to raise $4M in placement, rights issue
Thursday, 8 September 2016, 11:21 am | BusinessDesk
Sept. 8 (BusinessDesk) - Moa Group is to raise $4 million via a placement and rights offer at a 14 percent discount to the stock's last traded price, and will use the funds to expand its sales team and for working capital and expenses. More >>
Tower stock slumps to 12-year low
Thursday, 8 September 2016, 11:06 am | BusinessDesk
Sept. 8 (BusinessDesk) - Tower shares slumped to their lowest in more than a decade after the general insurer warned it expects to have to fork out more for Canterbury earthquake claims. More >>
Tower says extra Canterbury quake provisions hurt profit
Thursday, 8 September 2016, 10:13 am | BusinessDesk
Sept. 8 (BusinessDesk) - Tower expects to take a $16.2 million hit to its after-tax profit as the general insurer increases claims provisions for the Canterbury earthquake due to greater-than-expected new claims from the Earthquake Commission and increased ... More >>
Norman lobbies ACC chief not to invest in Ruataniwha
Thursday, 8 September 2016, 10:10 am | BusinessDesk
Sept. 8 (BusinessDesk) - Former Green Party co-leader and now Greenpeace New Zealand director Russel Norman has appealed to ACC investment manager Nicholas Bagnall not to commit the state-owned accident insurer's funds to the Ruataniwha Dam project. More >>
NZ dollar TWI tops 79 for first time in 17 months
Thursday, 8 September 2016, 9:02 am | BusinessDesk
Sept. 8 (BusinessDesk) - The New Zealand dollar trade-weighted index rose above 79 for the first time in 17 months as the nation's relatively sturdy economic growth, comparative high interest rates and recovering commodity prices underpinned sentiment ... More >>
