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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 549]
Mad Butcher owner Veritas in talks with bank
Tuesday, 30 August 2016, 4:24 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Veritas Investments, the owner of the Mad Butcher franchise and Nosh food market outlets, is in talks with its bank over the terms of its debt but believes it can continue as a going concern even though liabilities are three ... More >>
European Commission recognises NZ auditor regulations
Tuesday, 30 August 2016, 4:14 pm | BusinessDesk
Aug. 30 (BusinessDesk) - New Zealand-regulated auditors can operate in the European Union after the 28 nation bloc's executive, the European Commission, announced it recognised the local audit oversight regime. More >>
NZOG to offer 40M share buyback
Tuesday, 30 August 2016, 1:12 pm | BusinessDesk
Aug. 30 (BusinessDesk) - New Zealand Oil & Gas is to make a tender offer to shareholders to accelerate the buy back of up to 40 million shares, the company announced. More >>
NZOG to offer 40M share buyback
Tuesday, 30 August 2016, 1:10 pm | BusinessDesk
Aug. 30 (BusinessDesk) - New Zealand Oil & Gas is to make a tender offer to shareholders to accelerate the buy back of up to 40 million shares, the company announced. More >>
Sharemilkers most likely to face 'undue pressure' from banks
Tuesday, 30 August 2016, 12:15 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Most New Zealand farmers are broadly happy with the relationship with their banks although more report feeling 'undue pressure', according to a Federated Farmers survey. More >>
Pyne Gould avoids suspension with results one day late
Tuesday, 30 August 2016, 12:12 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Pyne Gould Corp, the investment group that plans to target 'distressed assets', has avoided being suspended from the NZX after filing its annual results a day late, revealing a drop in income and a narrower full-year loss. More >>
Jack Matthews to head MediaWorks board
Tuesday, 30 August 2016, 12:08 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Financially stressed broadcaster MediaWorks will gain high-profile telecommunications entrepreneur Jack Matthews as its chairman from the end of next month. More >>
NZ residential building consents slip 11% in July
Tuesday, 30 August 2016, 11:33 am | BusinessDesk
Aug. 30 (BusinessDesk) - New Zealand residential building consents fell 11 percent in July, partly reversing a spike higher in June due to applications for retirement villages and multi-unit dwellings. More >>
Airways FY profit jumps 54% as NZ aviation booms
Tuesday, 30 August 2016, 11:02 am | BusinessDesk
Aug. 30 (BusinessDesk) - Airways New Zealand, the state-owned air traffic controller, posted a 54 percent increase in annual profit and more than doubled its dividend to the Crown as it benefits from increased flights. More >>
Tenon's US operations under US$110M private equity offer
Tuesday, 30 August 2016, 10:07 am | BusinessDesk
Aug. 30 (BusinessDesk) - Taupo-based wood processor Tenon's US operations are under offer from a New York-based private equity firm for US$110 million that the company's directors say will allow a substantial capital return shareholders, despite a NZ$31 ... More >>
IkeGPS announces timing of further $3 million share sale
Tuesday, 30 August 2016, 9:36 am | BusinessDesk
Aug. 30 (BusinessDesk) - IkeGPS, the laser measurement toolmaker, has announced the timing of its planned $3 million share purchase plan. More >>
GeoOp narrows full-year loss
Tuesday, 30 August 2016, 9:25 am | BusinessDesk
Aug. 30 (BusinessDesk) - GeoOp, the NZAX-listed management app developer, narrowed its full-year loss and met guidance for revenue, based on pro-forma numbers that assume the inclusion of InterfaceIT. The company plans to raise as much as $4 million ... More >>
NZ dollar edges up as traders await clues on Fed rate hikes
Tuesday, 30 August 2016, 9:08 am | BusinessDesk
Aug. 30 (BusinessDesk) - The New Zealand dollar rose as traders await economic data that may provide clues to the timing of US interest rate hikes after US Federal Reserve officials revived expectations of a move this year. More >>
While you were sleeping: Solid US consumer spending
Tuesday, 30 August 2016, 7:48 am | BusinessDesk
Aug. 30 (BusinessDesk) - Wall Street strengthened, edging closer to fresh record highs, as a report on US consumer spending underpinned Federal Reserve officials’ comments that an interest rate hike might be warranted soon. More >>
Wellington Drive posts half-year operating profit
Monday, 29 August 2016, 9:32 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Wellington Drive Technologies, the maker of energy efficient motors for commercial refrigerators, has seen revenues rise by 38% in the six months to the end of June on a year earlier, driven by demand in the United States and Canada ... More >>
Analysts revise down Air NZ share price and earnings targets
Monday, 29 August 2016, 9:28 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Analysts have revised their earnings expectations and valuations for Air New Zealand following a forecast profit drop in 2017, with Craigs Investment Partners analyst Matt Peek describing the 2016 financial year as a “nice take-off, ... More >>
MARKET CLOSE: NZ shares fall; Chorus, A2, Genesis drop
Monday, 29 August 2016, 9:23 pm | BusinessDesk
Aug. 29 (BusinessDesk) - New Zealand shares fell after Chorus said profit growth stalled and chief executive Mark Ratcliffe will step down next year. A2 Milk and Genesis Energy also declined while Auckland International Airport and Air New Zealand ... More >>
NZ dollar falls as Fed rate-hike message digested
Monday, 29 August 2016, 5:40 pm | BusinessDesk
Aug. 29 (BusinessDesk) - The New Zealand dollar fell after the top two Federal Reserve officials gave an upbeat message about the outlook for US interest rates this year, increasing the focus on upcoming data such as non-farm payrolls. More >>
Veritas slumps into loss on Mad Butcher write-offs and Nosh
Monday, 29 August 2016, 5:39 pm | BusinessDesk
Veritas, the NZX listed hospitality company that owns the Mad Butcher franchise, Nosh food markets and the Better Bar Company has posted an audited net loss of $4.59 million in the year to the end of June 2016, compared to a profit of $3.33 million ... More >>
Auckland Council debt rises 4.1% to $7.6 billion
Monday, 29 August 2016, 3:59 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Auckland Council's debt rose 4.1% to $7.6 billion in the year ended June 30, as New Zealand's biggest city steps up investment to try to manage the rapid rise in its population. More >>
