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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 563]
Landcorp ditches palm kernel feed
Monday, 8 August 2016, 10:02 am | BusinessDesk
Aug. 8 (BusinessDesk) - Landcorp Farming, the state-owned farmer, will stop using palm kernel expeller on its farms in the current financial year to shore up its environmental sustainability credentials. More >>
Augusta nets $2.9 mln for NZME building syndication
Monday, 8 August 2016, 9:56 am | BusinessDesk
Aug. 8 (BusinessDesk) - Augusta Capital reaped $2.9 million in fees from its biggest property syndication deal on the purchase of the NZME Central complex in downtown Auckland. More >>
World Week Ahead: US consumer in focus
Monday, 8 August 2016, 9:07 am | BusinessDesk
Aug. 8 (BusinessDesk) - With Wall Street at record highs following Friday’s stronger-than-expected US jobs data, investors will eye the latest earnings from companies including Macy’s and Nordstrom as well as a report on retail sales. More >>
NZ dollar drops in NY trading after surge in US payrolls
Monday, 8 August 2016, 9:06 am | BusinessDesk
Aug. 8 (BusinessDesk) - The New Zealand dollar fell in New York trading after figures showed the US economy stacked on thousands more jobs than expected last month, stoking talk that a Federal Reserve rate hike is still on the cards this year. US stocks ... More >>
NZ dollar gains vs. pound after BoE easing
Friday, 5 August 2016, 5:21 pm | BusinessDesk
Aug. 5 (BusinessDesk) - The New Zealand dollar held its gains against the British pound after the Bank of England cut interest rates in a bigger-than-expected stimulus package, underlining the appeal of higher-yielding currencies such as the kiwi. More >>
Zespri suspends shipments to China
Friday, 5 August 2016, 4:44 pm | BusinessDesk
Aug. 5 (BusinessDesk) - Zespri International has temporarily halted exports to China while it puts in place new checking protocols after Chinese authorities tagged the fruit marketer when four containers of kiwifruit were found with a fruit-rotting ... More >>
AFT Pharmaceuticals affirms it is on track to break even
Friday, 5 August 2016, 4:34 pm | BusinessDesk
Aug. 5 (BusinessDesk) - Drug developer AFT Pharmaceuticals still expects to break even in the 2018 or 2019 financial year, although it cannot be sure exactly when, founder and managing director Harley Atkinson told shareholders at the company's ... More >>
Developers told Love's fee was for Treaty claim costs
Friday, 5 August 2016, 3:39 pm | BusinessDesk
Aug. 5 (BusinessDesk) - Developers were told the fee paid to former Maori leader Ngatata Love that's at the heart of his fraud trial was to cover Treaty of Waitangi claim costs, the High Court in Wellington heard on the third day of the case. More >>
Traders see outside chance RBNZ will cut OCR below 2%
Friday, 5 August 2016, 2:21 pm | BusinessDesk
Aug. 5 (BusinessDesk) - Traders say a Reserve Bank interest rate cut next week is a foregone conclusion and a minority are betting the stubbornly high kiwi dollar is a big enough threat to its policy targets to prompt governor Graeme Wheeler to ... More >>
Fonterra Shareholders' Council to get clearer mandate
Friday, 5 August 2016, 1:34 pm | BusinessDesk
The Fonterra Shareholders' Council, which represents farmer interests in the world's biggest dairy exporter, is poised for a refreshed mandate with clearer guidelines on how it interacts with the milk processor. More >>
Vitaco may need more capital to lift Auckland capacity
Friday, 5 August 2016, 11:38 am | BusinessDesk
Aug. 5 (BusinessDesk) - Vitaco Health Group will need more capital if it goes ahead with plans to expand its Auckland manufacturing and warehousing, which it says shareholders should be aware of in contemplating a A$313.7 million takeover bid from a Chinese-led ... More >>
NZ wool prices mixed at weekly auction
Friday, 5 August 2016, 11:36 am | BusinessDesk
Aug. 5 (BusinessDesk) - New Zealand wool prices were mixed at yesterday's South Island auction as buyers focused on specific wool types. More >>
T&G Global first-half profit jumped 89%
Friday, 5 August 2016, 11:07 am | BusinessDesk
Aug. 5 (BusinessDesk) - T&G Global, the fruit marketer controlled by Germany's BayWa, posted an 89 percent gain in first-half profit driven by sales from new and existing businesses, and a one-time gain from the sale of its crate hire unit. More >>
Intueri CEO Rob Facer leaves suddenly
Friday, 5 August 2016, 10:39 am | BusinessDesk
Aug. 5 (BusinessDesk) - Rob Facer has left his positions as chief executive and director of Intueri Education Group effective immediately as the private education provider forecast a 36 percent drop in 2016 earnings. More >>
NZ dollar jumps vs. British pound
Friday, 5 August 2016, 9:07 am | BusinessDesk
Aug. 5 (BusinessDesk) - The New Zealand dollar jumped to its highest in more than two weeks against the British pound after the Bank of England cut interest rates and delivered a bigger stimulus package than the market expected. More >>
NZ dollar falls as traders mull prospects of deeper OCR cut
Friday, 5 August 2016, 8:30 am | BusinessDesk
NZ dollar falls as traders mull prospects of deeper OCR cut, 2-year swaps fall below 2% More >>
While you were sleeping: BOE cuts rate
Friday, 5 August 2016, 7:42 am | BusinessDesk
Aug. 5 (BusinessDesk) - Wall Street was little changed as investors eyed Friday’s US jobs data to gauge the odds of a Federal Reserve rate increase this year, while the Bank of England lowered its key rate for the first time since 2009. More >>
MARKET CLOSE: NZ shares rise, Kathmandu gains
Thursday, 4 August 2016, 6:34 pm | BusinessDesk
Aug. 4 (BusinessDesk) - New Zealand shares gained after Kathmandu Holdings affirmed earnings would rise in line with its guidance. A2 Milk also advanced. More >>
Fisher Funds directors share $10.3 million dividend pot
Thursday, 4 August 2016, 4:29 pm | BusinessDesk
Aug. 4 (BusinessDesk) - Fisher Funds Management, which manages $6.9 billion on behalf of more than 250,000 investors, almost doubled the dividend paid to its owners in the last financial year, with directors sharing a dividend pot of $10.3 million, ... More >>
Crown theory "wrong" in Ngatata Love fraud case
Thursday, 4 August 2016, 3:08 pm | BusinessDesk
Aug. 4 (BusinessDesk) - The Serious Fraud Office's theory about Ngatata Love's alleged fraud is wrong and payments made by developers through a company owned by his partner had no financial effect on a trust he chaired, the High Court in Wellington heard ... More >>
