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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 560]
NZ dollar hits 15-month high after rate cut disappoints
Thursday, 11 August 2016, 5:21 pm | BusinessDesk
The New Zealand dollar rose to a 15-month high after the Reserve Bank's quarter-point rate cut disappointed some traders who had been picking an even bigger reduction to the official cash rate. More >>
ANZ, Westpac limit mortgage rate cuts
Thursday, 11 August 2016, 3:56 pm | BusinessDesk
Aug. 11 (BusinessDesk) - Two of New Zealand's major banks have rewarded savers more than borrowers in the wake of the cut to the official cash rate by upping the interest rate for deposits while making more modest reductions to mortgage rates. More >>
NZ among the few nations yet to hit limits
Thursday, 11 August 2016, 3:24 pm | BusinessDesk
Aug. 11 (BusinessDesk) - The Reserve Bank of New Zealand still has room to move on monetary policy unlike many central banks that have already pulled their policy levers to the limits of their effective range, governor Graeme Wheeler says. More >>
Brierley makes new offer for Kirkcaldie assets at 7% premium
Thursday, 11 August 2016, 2:51 pm | BusinessDesk
Aug. 11 (BusinessDesk) - Ron Brierley's Mercantile NZ has given notice of a new offer for the cashed-up former retailer Kirkcaldie & Stains, amounting to a 7 percent premium on its last traded price but still below the wash-up value of the business. More >>
Falling NZ lamb numbers may not bolster prices
Thursday, 11 August 2016, 1:26 pm | BusinessDesk
Aug. 11 (BusinessDesk) - An expected decline in New Zealand's lamb numbers this season to the lowest level in more than 60 years may not bolster prices amid uncertainty in key markets and as the higher kiwi dollar depresses local returns. More >>
Datacom revenue tops $1bln as IT goes through "hyper-change"
Thursday, 11 August 2016, 12:45 pm | BusinessDesk
Aug. 11 (BusinessDesk) - Australasian IT services provider Datacom Group has boosted 2016 full-year revenue over the $1 billion mark, in a sector experiencing what chief executive Jonathan Ladd dubbed “a phase of hyper-change”. More >>
Wheeler nudges banks to pass benefits of cut to customers
Thursday, 11 August 2016, 12:01 pm | BusinessDesk
Aug. 11 (BusinessDesk) - Reserve Bank governor Graeme Wheeler says he expects lenders to pass on to their customers most of today's quarter-point cut to the official cash rate. More >>
T&G Global CFO Hamster-Egerer to return to parent BayWa
Thursday, 11 August 2016, 11:57 am | BusinessDesk
Aug. 11 (BusinessDesk) - T&G Global, the fruit marketer controlled by Germany's BayWa, said chief financial officer Harald Hamster-Egerer will leave the company next February to return to the parent. More >>
NZ annual food prices slide 1.3% in July
Thursday, 11 August 2016, 11:45 am | BusinessDesk
Aug. 11 (BusinessDesk) - New Zealand annual food prices fell in July, as weaker dairy prices weighed on the grocery segment. More >>
Wynyard secures $10 mln short-term credit facility
Thursday, 11 August 2016, 11:22 am | BusinessDesk
Aug. 11 (BusinessDesk) - Wynyard Group said it has secured a $10 million revolving credit facility with major shareholder Skipton Building Society which will help the crime-fighting and security software developer manage its "revenue timing risks". More >>
Vital Healthcare posts 21% gain in full-year profit
Thursday, 11 August 2016, 10:22 am | BusinessDesk
Aug. 11 (BusinessDesk) - Vital Healthcare Property Trust, which raised $160 million last month to help fund its growth strategy, reported a 21 percent gain in full-year profit as rental income rose and it recognised a gain in the value of its portfolio. More >>
Tepid inflation expectations in future rate cut equation
Thursday, 11 August 2016, 10:10 am | BusinessDesk
Aug. 11 (BusinessDesk) - Reserve Bank governor Graeme Wheeler signalled another interest rate cut will follow today's quarter-point reduction, and that he may need to plumb ever-lower depths if the kiwi dollar continues to fly against projections or inflation ... More >>
UPDATE: NZ dollar soars as Wheeler cuts OCR to 2%
Thursday, 11 August 2016, 9:55 am | BusinessDesk
Aug. 11 (BusinessDesk) - The New Zealand dollar soared more than 1 US cent after Reserve Bank governor Graeme Wheeler cut the official cash rate to 2 percent, as expected, and said further easing is required, still a less-dovish statement than ... More >>
NZ dollar soars as Wheeler cuts OCR to 2%
Thursday, 11 August 2016, 9:13 am | BusinessDesk
Aug. 11 (BusinessDesk) - The New Zealand dollar soared more than 1 US cents after Reserve Bank governor Graeme Wheeler cut the official cash rate to 2 percent, as expected, and said further easing is required, still a less-dovish statement than ... More >>
NZ dollar holds above 72 US cents as OCR review looms
Thursday, 11 August 2016, 8:38 am | BusinessDesk
Aug. 11 (BusinessDesk) - The New Zealand dollar was little changed, holding above 72 US cents ahead of the Reserve Bank monetary policy statement at 9am, as traders await details of governor Graeme Wheeler's easing schedule. More >>
MARKET CLOSE: NZ shares fall
Thursday, 11 August 2016, 8:22 am | BusinessDesk
Aug. 10 (BusinessDesk) - New Zealand shares fell, pushing the S&P/NZX 50 Index down from a record high, as SkyCity Entertainment Group posted full-year profit growth that missed some analyst forecasts, underlining the high expectations built into ... More >>
While you were sleeping: Energy stocks, oil slide
Thursday, 11 August 2016, 7:44 am | BusinessDesk
Aug. 11 (BusinessDesk) - Wall Street fell as energy stocks moved lower with the price of oil amid fresh signs of an unabated global glut. More >>
Wynyard says it's meeting disclosure despite share plunge
Wednesday, 10 August 2016, 5:31 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Wynyard Group, the crime-fighting and security software developer, says it’s continuing to comply with continuous disclosure obligations after a 'please explain' letter from the NZX following a 20 percent drop in its share ... More >>
NZ dollar gains as markets second-guess Wheeler on rates
Wednesday, 10 August 2016, 5:28 pm | BusinessDesk
Aug. 10 (BusinessDesk) - The New Zealand dollar rose ahead of tomorrow'sReserve Bank monetary policy statement, where governor Graeme Wheeler is expected to cut the official cash rate and signal more will follow. More >>
Unguaranteed Viaduct investors likely to get 10-15c/dollar
Wednesday, 10 August 2016, 5:05 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Investors in failed finance company Viaduct Capital who weren’t covered by the Crown's retail deposit guarantee scheme are likely to get back around 10 to 15 cents in the dollar, says receiver McDonald Vague in its latest ... More >>
