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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 561]
Shaan Stevens returned to NZ for Ngatata Love case
Wednesday, 10 August 2016, 5:04 pm | BusinessDesk
Shaan Stevens, the Singapore-based businessman who is a key Crown witness in the fraud trial of Ngatata Love, says he returned to New Zealand to give evidence because he felt it was his "civic duty". More >>
IkeGPS raises $5.25 million in share placement
Wednesday, 10 August 2016, 3:36 pm | BusinessDesk
Aug. 10 (BusinessDesk) - IkeGPS, the laser measurement toolmaker, has placed more than 8 million ordinary shares with institutional and sophisticated investors at 60 cents a share, 13 percent below the previously traded price and almost half the ... More >>
Fairfax committed to minority stake through transition
Wednesday, 10 August 2016, 2:27 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Sydney-based publisher Fairfax Media says it expects to hold a minority shareholding in the merged company it is seeking to create with current rival New Zealand publisher, NZME, and the Fairfax New Zealand assets, at least for ... More >>
Fairfax reports larger-than-expected decline in NZ earnings
Wednesday, 10 August 2016, 1:16 pm | BusinessDesk
Aug. 10 (BusinessDesk) - Sydney-based publisher Fairfax Media says its New Zealand online and print titles suffered a "higher than originally forecast or anticipated" decline in the year to June 26, with underlying earnings before interest and tax ... More >>
NZ guest nights jump to a record in June amid tourism boom
Wednesday, 10 August 2016, 12:23 pm | BusinessDesk
Aug. 10 (BusinessDesk) - New Zealand accommodation providers had their biggest-ever influx for a June month this year, with local and international visitors on the move in what is typically the off-season. More >>
ASB Bank lifts annual earnings 5%
Wednesday, 10 August 2016, 11:10 am | BusinessDesk
Aug. 10 (BusinessDesk) - ASB Bank boosted annual earnings by 5 percent as increased business and mortgage lending boosted the lender's income streams facing tighter margins in a highly competitive market. More >>
Supreme Court rejects Skinner and Rowley's last appeal
Wednesday, 10 August 2016, 10:56 am | BusinessDesk
Aug. 10 (BusinessDesk) - Two Wellington accountants serving prison terms on 110 counts of tax fraud have exhausted the last avenue of appeal against their convictions. More >>
NZ house sales drop 10% in July as supply dwindles
Wednesday, 10 August 2016, 10:52 am | BusinessDesk
Aug. 10 (BusinessDesk) - The volume of houses sold last month dropped 10 percent from a year earlier as the number of properties on the market continued to shrink, according to the Real Estate Institute of New Zealand. More >>
SkyCity annual profit rises 13% on Auckland casino trading
Wednesday, 10 August 2016, 10:33 am | BusinessDesk
Aug. 10 (BusinessDesk) - SkyCity Entertainment Group, which has four casinos in New Zealand and two in Australia, posted a 13 percent gain in full-year profit on better trading at its key Auckland casino and record activity from high-roller gamblers. More >>
TeamTalk hires Cameron Partners for strategic review
Wednesday, 10 August 2016, 9:15 am | BusinessDesk
Aug. 10 (BusinessDesk) - TeamTalk has hired investment bank Cameron Partners for a strategic review of the telecommunications company just three weeks after appointing a new chief executive. More >>
MARKET CLOSE: NZX 50 reaches record high before earnings
Wednesday, 10 August 2016, 8:44 am | BusinessDesk
Aug. 9 (BusinessDesk) - New Zealand shares rose, pushing the S&P/NZX 50 Index to a new record on optimism the lack of profit warnings running into earnings season means companies are less likely to disappoint the market. Australia & New Zealand ... More >>
NZ dollar gains as investors await RBNZ rate decision
Wednesday, 10 August 2016, 8:39 am | BusinessDesk
Aug. 10 (BusinessDesk) - The New Zealand dollar gained as investors eye tomorrow's Reserve Bank policy review which is expected to see governor Graeme Wheeler cut interest rates and indicate more to come. More >>
While you were sleeping: Gap shares slide
Wednesday, 10 August 2016, 7:56 am | BusinessDesk
Aug. 10 (BusinessDesk) - Wall Street was mixed along with the latest US economic data, while oil prices moved lower as did the greenback, though sentiment remains upbeat. More >>
ComCom backs trans-Tasman shared betting in provisional view
Tuesday, 9 August 2016, 5:34 pm | BusinessDesk
The Commerce Commission thinks it should back an application to let the New Zealand Racing Board share certain betting provisions with Australia's Tabcorp. More >>
NZD gains on commodity pickup; swap rates fall ahead of OCR
Tuesday, 9 August 2016, 5:26 pm | BusinessDesk
The New Zealand dollar gained as optimism about stronger prices for commodities ranging from crude oil to milk powder lifted commodity-linked currencies, while two-year swaps fell to a new low in the run-up to Thursday's Reserve Bank review. More >>
UPDATE: Fairfax eyes vertical integration with ISP venture
Tuesday, 9 August 2016, 4:51 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Fairfax New Zealand, which is looking to stitch up a merger with rival NZME, is extending its business beyond online and print publishing, launching a fibre-only internet service provider. More >>
UPDATE: Mutual, Viaduct failures were ‘commercial daring'
Tuesday, 9 August 2016, 2:54 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Property developer Paul Bublitz and other directors of failed finance companies Viaduct Capital and Mutual Finance say they weren’t part of any conspiracy to deliberately mislead investors for their own benefit and to the detriment ... More >>
Hawaiki kicks off five-month marine survey
Tuesday, 9 August 2016, 1:45 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Hawaiki Submarine Cable, which plans to build a new trans-Pacific high speed internet cable, is mapping out the route for the 14,000 kilometre cable, which is expected to take at least five months and cost millions of dollars. More >>
Fairfax NZ eyes vertical integration with ISP venture
Tuesday, 9 August 2016, 1:08 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Fairfax New Zealand, which is looking to stitch up a merger with rival NZME, is looking to extend its business beyond content provision with a new venture to launch a fibre-only internet service provider. More >>
Transmission pricing impasse deepens
Tuesday, 9 August 2016, 12:30 pm | BusinessDesk
Aug. 9 (BusinessDesk) - Electricity producers, carriers and consumers remain as divided as ever over the Electricity Authority's latest attempt to reform how the national grid is paid for. More >>
