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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 562]
Tourism spurs big July increase in plastic card spending
Tuesday, 9 August 2016, 11:54 am | BusinessDesk
Aug. 9 (BusinessDesk) - Spending on electronic cards rose strongly last month, led by the biggest monthly gain in hospitality expenditure since November as the sector continues to enjoy the benefits of an expanding population and booming tourism numbers. More >>
NZ sheep numbers fall to lowest level since the 1930s Depression
Tuesday, 9 August 2016, 11:50 am | BusinessDesk
Aug. 9 (BusinessDesk) - New Zealand's sheep flock dropped 3 percent to the lowest level since the 1930s Depression as farmers sold stock to cope with drought conditions and facial eczema. Lamb numbers are likely to fall 2.9 percent this spring. More >>
Mutual, Viaduct failures were ‘commercial daring, not fraud’
Tuesday, 9 August 2016, 11:50 am | BusinessDesk
Aug. 9 (BusinessDesk) - Property developer Paul Bublitz didn’t devise for his own benefit a plan to move illiquid assets out of his company, Hunter Capital Group, and into finance company Viaduct Capital, his counsel Rachael Reed told the High ... More >>
Wrightson full-year profit rises 20% on lower tax bill
Tuesday, 9 August 2016, 9:47 am | BusinessDesk
Aug. 9 (BusinessDesk) - PGG Wrightson, the rural services firm controlled by New York Stock Exchange-listed Agria Corp, posted a 20 percent gain in full-year profit, largely by paying less tax, while sales fell in a result it said showed it was able ... More >>
Property For Industry lifts first-half earnings 17%
Tuesday, 9 August 2016, 9:42 am | BusinessDesk
Aug. 9 (BusinessDesk) - Property For Industry, the commercial property investor, lifted first-half earnings 17 percent as lower interest rates helped cut costs and lease reviews and new purchases lifted rental income. More >>
NZ dollar gains as commodities rally
Tuesday, 9 August 2016, 9:38 am | BusinessDesk
Aug. 9 (BusinessDesk) - The New Zealand dollar joined other commodity-linked currencies in rising on speculation oil producers will limit global supply. More >>
Council staff push back on liberalised rural urban boundary
Tuesday, 9 August 2016, 9:37 am | BusinessDesk
Aug. 9 (BusinessDesk) - Auckland Council staff are recommending most of the proposed changes in the draft unitary plan be adopted, but are pushing back on making the rural-urban boundary as loose as an independent hearings panel is proposing. More >>
While you were sleeping: Oil, greenback gain
Tuesday, 9 August 2016, 7:49 am | BusinessDesk
Aug. 9 (BusinessDesk) - Wall Street moved lower from record highs, while oil prices and the US dollar firmed amid talk about fresh efforts to curb a global glut and increased bets that the Federal Reserve will raise interest rates this year after ... More >>
Kathmandu leads the NZX 50 higher on positive US sentiment
Monday, 8 August 2016, 5:36 pm | BusinessDesk
New Zealand shares rallied with global markets after positive leads from the US, with the local market led by Kathmandu Holdings and Australia & New Zealand Banking Group. More >>
Transport Ministry manager charged over $726,000 fraud
Monday, 8 August 2016, 5:32 pm | BusinessDesk
A former senior manager at the Ministry of Transport has appeared in the Manukau District Court charged with three counts of dishonestly taking or using a document in relation to a $726,000 fraud. More >>
Spark's Moutter to rattle cages for venture capital
Monday, 8 August 2016, 5:31 pm | BusinessDesk
Spark New Zealand chief executive Simon Moutter will take a lead role in trying to shake out support from the big end of town to boost New Zealand's underdeveloped venture capital market. More >>
NZD falls as expected rate cut this week seen as start
Monday, 8 August 2016, 5:25 pm | BusinessDesk
NZ dollar falls as expected rate cut this week seen as start of deeper easing cycle More >>
Bublitz pulled strings in deals, High Court hears
Monday, 8 August 2016, 4:16 pm | BusinessDesk
Investors in collapsed finance companies Viaduct Capital and Mutual Finance along with the Treasury were misled over related party transactions designed to get Paul Bublitz’s property company out of financial strife, the Crown has alleged at the ... More >>
Ngatata Love taken to hospital during fraud trial
Monday, 8 August 2016, 3:51 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Former Maori leader Ngatata Love has been taken to hospital as his fraud trial entered its second week. More >>
Ports of Auckland to go ahead with automation plan
Monday, 8 August 2016, 2:38 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Ports of Auckland will go ahead with plans to partially automate its container terminal, which it expects will cut its workforce by about a tenth. More >>
ASX-listed juicemaker Food Revolution Group sells NZ assets
Monday, 8 August 2016, 1:51 pm | BusinessDesk
Aug. 8 (BusinessDesk) - ASX-listed juice maker Food Revolution Group has sold its New Zealand operations and is leasing its LangTech citrus assets to Singapore-based Gravity Solutions Global in a deal it values at more than A$17 million. More >>
Mutual Finance hearing begins
Monday, 8 August 2016, 12:39 pm | BusinessDesk
Aug. 8 (BusinessDesk) - The last of the finance company cases being brought by the Financial Markets Authority has begun in the Auckland High Court today with one of the five accused pleading guilty to theft charges. More >>
Michael McDonald pleads guilty to faking tax returns
Monday, 8 August 2016, 11:39 am | BusinessDesk
Aug. 8 (BusinessDesk) - A former tax agent who didn't pay his clients' tax to the Inland Revenue Department and falsified 250 GST and income tax returns in order to keep client money has pleaded guilty to fraud charges. More >>
Michael Hill's Parsell steps down after 16 years
Monday, 8 August 2016, 10:48 am | BusinessDesk
Aug. 8 (BusinessDesk) - Michael Hill International chief executive Mike Parsell is to step down after 16 years leading the jewellery company that bears its founder's name. More >>
IkeGPS shares halted for institutional placement
Monday, 8 August 2016, 10:26 am | BusinessDesk
Aug. 8 (BusinessDesk) - IkeGPS, the laser measurement tool maker that expects to be cash break-even in the fourth quarter of 2017,is in a trading halt pending a placement of shares to institutional investors in Australia and New Zealand. More >>
