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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 545]
Christchurch Airport lifts profit, pays record $31 dividend
Tuesday, 6 September 2016, 1:22 pm | BusinessDesk
Sept. 6 (BusinessDesk) - Christchurch International Airport, which is 75 percent owned by the city council, lifted annual profit 10 percent and increased its dividend payout to a record $31 million. More >>
Software start-up 9 Spokes to launch online dashboard
Tuesday, 6 September 2016, 12:57 pm | BusinessDesk
Sept. 5 (BusinessDesk) - ASX-listed software startup 9 Spokes says its online dashboard for small businesses will launch in October. More >>
Average Auckland house price tops $1M, QV says
Tuesday, 6 September 2016, 12:09 pm | BusinessDesk
Sept. 6 (BusinessDesk) - The average Auckland home now costs more than $1 million as less activity fails to curb house price growth in New Zealand's biggest city, says state-owned valuer, Quotable Value. More >>
Wholesale trade grows at fastest quarterly pace in 2 years
Tuesday, 6 September 2016, 11:26 am | BusinessDesk
Sept. 6 (BusinessDesk) - New Zealand wholesale trade grew at its fastest quarterly pace in two years during the second three months of the year as strong fruit exports helped underpin sales of grocery, liquor and tobacco products. More >>
Vodafone NZ, awaiting merger approval
Tuesday, 6 September 2016, 9:22 am | BusinessDesk
Sept. 6 (BusinessDesk) - Vodafone New Zealand, which has sought regulatory approval to merge with Sky Network Television, reported full-year operating profit that almost tripled as a result of lower depreciation, amortisation, and wage costs, while lower ... More >>
Coffee Club franchisors plan to add two new brands
Tuesday, 6 September 2016, 9:13 am | BusinessDesk
Sept. 6 (BusinessDesk) - The New Zealand franchisors of café chain The Coffee Club plan to become a “mini-Restaurant Brands” by bringing in two new Australian franchises early next year. More >>
Mad Butcher woes continue for Veritas
Tuesday, 6 September 2016, 9:06 am | BusinessDesk
Sept. 5 (BusinessDesk) - The Inland Revenue Department has filed an application to liquidate the business behind the Silverdale Mad Butcher store, the latest issue to hit NZX-listed hospitality company Veritas, which owns the franchise rights. More >>
TPP deal still a possibility, PM Key says
Tuesday, 6 September 2016, 9:05 am | BusinessDesk
Sept. 5 (BusinessDesk) - Prime Minister John Key still sees a completed Trans Pacific Partnership agreement as a possibility, though he isn't confident it will get over the line. More >>
NZ dollar slips on trade-weighted basis
Tuesday, 6 September 2016, 9:04 am | BusinessDesk
Sept. 6 (BusinessDesk) - The New Zealand dollar fell from near a 16-month high on a trade-weighted basis but is still seen as sufficiently above the levels projected by the Reserve Bank to warrant another cut to the official cash rate in coming months. More >>
While you were sleeping: Oil gains on deal
Tuesday, 6 September 2016, 7:40 am | BusinessDesk
Sep. 6 (BusinessDesk) - Oil jumped before giving up some of the gains as a deal between key producers Saudia Arabia and Russia stopped short of offering an actual limit on output. The US dollar slipped amid bets the Federal Reserve won’t hike rates ... More >>
NZ dollar gains, pushing TWI to 78
Monday, 5 September 2016, 5:54 pm | BusinessDesk
Sept. 5 (BusinessDesk) - The New Zealand dollar rose, pushing the trade-weighted index to a 16-month high, as the market reassessed Friday's non-farm payrolls data out of the US on concern jobs growth is being driven by lower-paying positions and ... More >>
NZ shares rise, led by Comvita on China deal
Monday, 5 September 2016, 5:54 pm | BusinessDesk
MARKET CLOSE: NZ shares rise, led by Comvita on China deal; Air NZ, Mercury gain More >>
Steel & Tube to drop out of S&P/NZX 50
Monday, 5 September 2016, 4:02 pm | BusinessDesk
Sept. 5 (BusinessDesk) - Steel & Tube Holdings is to drop out of the S&P/NZX50 benchmark index on Sep 16, despite a recent rally. More >>
Kingston stung in Appeal Court over lawyer's silence
Monday, 5 September 2016, 3:41 pm | BusinessDesk
Sept. 5 (BusinessDesk) - Kingston Developments Group will miss out on a $7 million profit from an Albany project after the Official Assignee (OA) successfully argued in the Court of Appeal that the developer's lawyer failed to reveal plans to discharge ... More >>
Fitch upgrades Cooperative Bank credit rating
Monday, 5 September 2016, 3:30 pm | BusinessDesk
Sept. 5 (BusinessDesk) - Fitch Ratings has upgraded the Cooperative Bank's credit rating to BBB from BBB- on the basis that it expects a turnaround in earnings and profitability over the next 12 to 18 months. More >>
PharmaZen first-half profit rises 23%
Monday, 5 September 2016, 2:06 pm | BusinessDesk
Sept. 5 (BusinessDesk) - PharmaZen, the Christchurch-based animal and human nutrition manufacturer, said first-half profit rose 23 percent as an increase in sales was offset by the impact of a strong kiwi dollar and higher depreciation charges. More >>
NZ commodity prices rise in August as dairy extends rally
Monday, 5 September 2016, 1:16 pm | BusinessDesk
Sept. 5 (BusinessDesk) - New Zealand commodity prices rose for a fourth month in August as the rebound in dairy continued, although a strong kiwi dollar limited gains for local producers. More >>
Chorus chair Strange defends complaints over UFB rollout
Monday, 5 September 2016, 12:34 pm | BusinessDesk
Sept. 5 (BusinessDesk) - Chorus chairman Patrick Strange has hit back at complaints of poor service in its ultrafast broadband rollout, saying uptake has been far higher than forecast and a shortage of qualified technicians is hampering its efforts. More >>
Higher lamb meat prices eroded by elevated kiwi dollar
Monday, 5 September 2016, 12:32 pm | BusinessDesk
Sept. 5 (BusinessDesk) - Limited supply of lamb meat is pushing up prices in overseas markets, however the gains for local farmers are being eroded by the higher value of the New Zealand dollar. More >>
Squeezing more from trade deals may require domestic tweaks
Monday, 5 September 2016, 12:02 pm | BusinessDesk
The New Zealand government will have to work more closely with local businesses and may need to tinker with domestic policy to get the most out of the nation's free-trade agreements, Trade Minister Todd McClay says. More >>
