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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 554]
NZ dollar falls as Fed speakers talk up rate hikes
Monday, 22 August 2016, 5:26 pm | BusinessDesk
The New Zealand dollar fell as Federal Reserve officials talked up the prospect of an interest rate hike this year which would sap the kiwi's relative interest rate advantage, and ahead of a speech by Reserve Bank governor Graeme Wheeler. More >>
OCS sells Envirocomp back after writing down value to zero
Monday, 22 August 2016, 4:35 pm | BusinessDesk
OCS Group has sold Envirocomp back to the original owners after writing down the value of the Christchurch-based composting firm to zero last year. More >>
Yashili NZ to sell base powder dairy products to Danone
Monday, 22 August 2016, 4:17 pm | BusinessDesk
Yashili NZ agrees to sell $18.7 mln of base powder dairy products to Danone More >>
Love defends Redwood appointment
Monday, 22 August 2016, 2:20 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Former Treaty negotiator Ngatata Love defended hiring Redwood Group for a potential building project in Wellington, saying the Auckland property developer understood some of the complexities of working with iwi land. More >>
TPG Telecom hoses down 2Degrees speculation
Monday, 22 August 2016, 1:09 pm | BusinessDesk
Aug. 22 (BusinessDesk) - TPG Telecom, the Australian company that bought Spark New Zealand's AAPT business in 2013, has hosed down speculation it's on the verge of buying Two Degrees Mobile. More >>
Commerce Commission delays decision on Fairfax-NZME
Monday, 22 August 2016, 12:40 pm | BusinessDesk
Aug. 22 (BusinessDesk) - The Commerce Commission has delayed its decision on the proposed merger between NZME and Fairfax Media's New Zealand assets, saying the deal is complex and it needs more time to assess the impact on both news content and the ... More >>
Nib doubles NZ earnings, sees further growth
Monday, 22 August 2016, 12:25 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Nib Holdings, the ASX-listed company that's New Zealand's second-largest health insurer, said full-year earnings doubled and it expects further growth in the 2017 year after adding policyholders and widening its margins. More >>
Bluescope seek another A$15M of annual savings from NZ Steel
Monday, 22 August 2016, 12:13 pm | BusinessDesk
Australian steel manufacturer Bluescope is seeking another A$15 million a year in savings from its New Zealand operations, which broke even on an operating earnings basis, after depreciation and amortisation, in the latest financial year. More >>
NZ export log prices fall to 8-month low
Monday, 22 August 2016, 12:07 pm | BusinessDesk
NZ export log prices fall to 8-month low on stronger kiwi dollar, higher shipping rates More >>
Ngatata Love takes stand in his fraud trial
Monday, 22 August 2016, 11:48 am | BusinessDesk
Aug. 22 (BusinessDesk) - Former Treaty negotiator Ngatata Love has taken the stand in the High Court in Wellington where he is accused of defrauding the Wellington Tenths Trust by taking payments to ensure property developers would win work with ... More >>
Weldon to leave GeoOp board at the end of the month
Monday, 22 August 2016, 11:41 am | BusinessDesk
Aug. 22 (BusinessDesk) - Former NZX and MediaWorks boss Mark Weldon will leave the board of minnow human resources software developer GeoOp at the end of the month, and will be replaced by an Australian director. More >>
NZD heads for 1.1% weekly gain with interest rate advantage
Friday, 19 August 2016, 5:23 pm | BusinessDesk
Aug. 19 (BusinessDesk) - The New Zealand dollar is heading for a 1.1 percent weekly gain against the greenback as the country's relatively high yields continue to attract investors in search of decent returns in a world where major central banks are running ... More >>
Van Heeren appeal dismissed, Court of Appeal orders payment
Friday, 19 August 2016, 4:47 pm | BusinessDesk
Alex Van Heeren has failed his Court of Appeal bid to overturn a ruling that he pay US$25 million as an interim measure to former business partner Michael Kidd until they can agree on the full amount owed. More >>
International visitors spend $10.3bn in NZ in June year
Friday, 19 August 2016, 3:51 pm | BusinessDesk
Aug. 19 (BusinessDesk) - International visitors brought over $10 billion into New Zealand over the last year, Tourism New Zealand says. More >>
Port of Tauranga has '$200M headroom' to chase opportunities
Friday, 19 August 2016, 1:09 pm | BusinessDesk
Aug. 19 (BusinessDesk) - Port of Tauranga has some $200 million of "headroom" it could use at short notice to pursue growth opportunities even if it proceeds with the full $140 million capital return it has flagged for the next four years, says ... More >>
Kiwi tech company Endace posts US$97.4 mln 2015 loss
Friday, 19 August 2016, 1:04 pm | BusinessDesk
Aug. 19 (BusinessDesk) - Endace, which makes high-speed network monitoring and recording technology, reported a loss of US$97.4 million for the June 2015 year and negative operating cash flows of US$5.5 million though it has since undergone a management-led ... More >>
IAG NZ profit slides 38% as competition drives down prices
Friday, 19 August 2016, 12:55 pm | BusinessDesk
Insurance Australia Group's New Zealand division posted a 38 percent slide in annual profit as rampant competition for commercial customers drove down prices and as the country's biggest general insurer faced a higher risk margin on the Canterbury earthquakes. More >>
Michael Hill annual profit falls as tax payments bite
Friday, 19 August 2016, 12:54 pm | BusinessDesk
Aug. 19 (BusinessDesk) - Michael Hill International, the jewellery chain business founded by its namesake, posted a 30 percent decline in annual profit as it accounted for tax adjustments. More >>
NZ migration, tourism continue to boom in July
Friday, 19 August 2016, 12:49 pm | BusinessDesk
New Zealand's booming migration and tourism arrivals set a new record for July this year, driven by an influx of Chinese and Australian, though economists say the net migration trend may be close to a peak. More >>
Trustpower to plead guilty over misleading broadband offer
Friday, 19 August 2016, 10:29 am | BusinessDesk
Aug. 19 (BusinessDesk) - Trustpower intends to plead guilty to charges claiming the electricity generator and retailer mislead customers over the market and sale of a bundled power and broadband offer. More >>
