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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 557]
NZ producer input prices rise faster than output prices
Wednesday, 17 August 2016, 11:33 am | BusinessDesk
Aug. 17 (BusinessDesk) - New Zealand producer input prices rose at more than four times the pace of output prices in the second quarter, reflecting stronger prices for crude oil. More >>
NZ jobless rate falls to 5.1% under new methodology
Wednesday, 17 August 2016, 11:07 am | BusinessDesk
Aug. 17 (BusinessDesk) - New Zealand's unemployment rate fell more than expected in the second quarter as Statistics New Zealand adopted a new way of measuring the labour market to bring the country in line with international practices, and while ... More >>
Nuplex boosts full-year earnings 19%
Wednesday, 17 August 2016, 10:00 am | BusinessDesk
Aug. 17 (BusinessDesk) - Nuplex Industries, which is in the process of being taken over by Allnex Belguim SA, posted a 19 percent gain in annual profit as earnings lifted across all its key markets. More >>
NZX first-half profit hurt by Ralec litigation costs
Wednesday, 17 August 2016, 9:53 am | BusinessDesk
Aug. 17 (BusinessDesk) - NZX's first-half profit dropped 80 percent as costs related to the ongoing Ralec litigation offset gains in operating revenue. More >>
Fletcher meets guidance as full-year profit climbs 71%
Wednesday, 17 August 2016, 9:32 am | BusinessDesk
Aug. 17 (BusinessDesk) - Fletcher Building posted a 71 percent gain in full-year profit, and met its earnings guidance, driven by an improved performance in Australia and gains in its New Zealand distribution, residential and construction divisions. More >>
John Waller to leave Fonterra board at the end of the month
Wednesday, 17 August 2016, 9:31 am | BusinessDesk
Aug. 17 (BusinessDesk) - Fonterra Cooperative Group independent director John Waller will resign from the board of the world's biggest dairy exporter to cut back on his workload. More >>
NZ dollar gains after milk prices jump more than expected
Wednesday, 17 August 2016, 9:29 am | BusinessDesk
Aug. 17 (BusinessDesk) - The New Zealand dollar climbed after dairy prices rose more than expected at the latest GlobalDairyTrade auction, clawing back losses after a Federal Reserve official raised the prospect of an early US rate hike. More >>
Tenths Trustee not told of potential deal with developers
Wednesday, 17 August 2016, 9:20 am | BusinessDesk
Aug. 16 (BusinessDesk) - A trustee of the Wellington Tenths Trust has told Wellington's High Court that she wasn't told about negotiations with land developers undertaken by trust chairman Ngatata Love's son about land the trust owned, and she would have ... More >>
Syft struggles to meet demand as turnaround gathers pace
Wednesday, 17 August 2016, 9:17 am | BusinessDesk
Aug. 16 (BusinessDesk) - Christchurch-based gas analysis equipment maker Syft Technologies says demand for its high-tech instruments is starting to outstrip production capacity as the firm's recovery from bankruptcy in 2012 gathers pace More >>
UPDATE: Paymark boosts dividend to $9.4 million
Wednesday, 17 August 2016, 8:28 am | BusinessDesk
Aug. 16 (BusinessDesk) - Paymark, the eftpos terminal provider owned by New Zealand's four major banks, increased its dividend by 56 percent to $9.4 million from $6 million a year earlier. More >>
While you were sleeping: Fed officials flag hike
Wednesday, 17 August 2016, 7:55 am | BusinessDesk
Aug. 17 (BusinessDesk) - Wall Street moved lower, as did US Treasuries, as Federal Reserve officials suggested the central bank might raise interest rates soon. More >>
Dairy product prices jump as worldwide surplus falls
Wednesday, 17 August 2016, 7:06 am | BusinessDesk
Aug. 17 (BusinessDesk) - Dairy product prices soared, rallying more than anticipated, at the Global Dairy Trade auction amid signs that the worldwide supply glut is easing, bolstering optimism about the outlook. More >>
MARKET CLOSE: NZ shares fall from record high
Tuesday, 16 August 2016, 7:36 pm | BusinessDesk
Aug. 16 (BusinessDesk) - New Zealand shares fell from a record led by Fletcher Building and Spark New Zealand ahead of their results over the next two days. Summerset Group rose to an all-time high. More >>
Opus International sinks into the red
Tuesday, 16 August 2016, 4:47 pm | BusinessDesk
Aug. 16 (BusinessDesk) - Opus International Consultants, the listed engineering firm, sank into the red in the first half after writing down the value of its Australian and Canadian businesses which have struggled on falling oil and gas prices. More >>
Auckland transport network at "crunch point"
Tuesday, 16 August 2016, 4:41 pm | BusinessDesk
Aug. 16 (BusinessDesk) - KiwiRail chief executive Peter Reidy says Auckland’s transport network is at “crunch point” as the city's population grows, with demand from freight and passengers increasingly at odds. More >>
Paymark almost trebles dividend to bank owners
Tuesday, 16 August 2016, 4:14 pm | BusinessDesk
Aug. 16 (BusinessDesk) - Paymark, the EFTPOS terminal provider owned by the four major banks, increased its dividend by 178 percent to a total of $16.7 million in the year to the end of March 2016. More >>
Martin Aircraft to enter technology-sharing agreement
Tuesday, 16 August 2016, 12:40 pm | BusinessDesk
Martin Aircraft, the personal jetpack developer, is to enter a technology-sharing agreement with cornerstone shareholder KuangChi Science which will see chief executive Peter Coker step down to take a new role in KuangChi's "Global Community of Innovation" ... More >>
Low interest rates spur 12% lift in Heartland annual profit
Tuesday, 16 August 2016, 11:41 am | BusinessDesk
Aug. 16 (BusinessDesk) - Heartland Bank boosted annual profit 12 percent and will pay a bigger dividend, widening margins as low interest rates enabled cheaper funding. More >>
F&P Healthcare files US patent infringement against rival
Tuesday, 16 August 2016, 11:08 am | BusinessDesk
Aug. 16 (BusinessDesk) - Fisher & Paykel Healthcare, the medical devices maker, has filed a patent infringement lawsuit in the US against ResMed, claiming its rival used its technology in its breathing masks and air flow products. More >>
Sky TV merger to give Vodafone strangehold on internet TV
Tuesday, 16 August 2016, 10:56 am | BusinessDesk
Aug. 16 (BusinessDesk) - Allowing Sky Network Television to merge with the New Zealand operations of Vodafone will entrench Vodafone's control of premium content, particularly major sports events, and stifle competition in the internet and streaming TV markets, ... More >>
