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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 565]
NZX cash market trading falls 5.6% in July from year earlier
Wednesday, 3 August 2016, 10:47 am | BusinessDesk
Aug. 3 (BusinessDesk) - NZX cash market trading volumes fell in July, led by a drop in equities, although a 6.5 percent gain in the S&P/NZX 50 Index meant the value of trading was still higher than in the year-earlier month. More >>
Auckland house prices are stabilising Barfoot says
Wednesday, 3 August 2016, 10:35 am | BusinessDesk
Aug. 3 (BusinessDesk) - Auckland house prices may have plateaued in July after hitting a record in November last year, the city's largest realtor says. More >>
Ravensdown annual earnings jump 35%
Wednesday, 3 August 2016, 10:07 am | BusinessDesk
Aug. 3 (BusinessDesk) - Ravensdown Fertiliser Cooperative posted a 35 percent gain in full-year pretax earnings and said fertiliser demand has held up better than expected in the face of the dairy downturn as farmers favour grass growth over supplements. More >>
Ports target efficiency gains in proposed tie-up
Wednesday, 3 August 2016, 9:58 am | BusinessDesk
Aug. 3 (BusinessDesk) - Ports of Auckland and Napier Port have announced a strategic alliance they say will help improve services for freight customers and save exporters and importers money through a more efficient supply chain. More >>
NZOG chief Andrew Knight to leave before end of the month
Wednesday, 3 August 2016, 9:56 am | BusinessDesk
Aug. 3 (BusinessDesk) - New Zealand Oil & Gas chief executive Andrew Knight will leave the energy exploration company before the end of the month to pursue other business interests, ending almost five years in charge. More >>
Infratil teams up with Aussie fund
Wednesday, 3 August 2016, 9:30 am | BusinessDesk
Aug. 3 (BusinessDesk) - Infratil and Commonwealth Superannuation Corp have paid A$82.5 million for the 30-year contract to manage nine on-campus purpose-built student accommodation (PBSA) residences for Australian National University in the Australian ... More >>
NZ dollar gains as US growth keeps greenback under pressure
Wednesday, 3 August 2016, 9:01 am | BusinessDesk
Aug. 3 (BusinessDesk) - The New Zealand dollar gained as concerns about the strength of the US economy weighed on the greenback, eroding optimism a rate cut by the Reserve Bank will do much to drag down the kiwi. More >>
MARKET CLOSE: NZ stocks drop
Wednesday, 3 August 2016, 8:54 am | BusinessDesk
Aug. 2 (BusinessDesk) - New Zealand shares fell, led lower by Kathmandu Holdings and Fisher & Paykel Healthcare, while Fonterra Shareholders Fund continued yesterday's gains. More >>
While you were sleeping: US retailers drop
Wednesday, 3 August 2016, 7:42 am | BusinessDesk
Aug 3 (BusinessDesk) - Wall Street slid with shares of retailers and car makers amid concern that a better-than-expected pace of consumer spending is not sustainable. More >>
Dairy product prices jump as global milk output eases
Wednesday, 3 August 2016, 6:18 am | BusinessDesk
Aug 3 (BusinessDesk) - Dairy product prices rose more than expected at the Global Dairy Trade auction amid signs of a slowdown in worldwide output. More >>
NZ dollar gains to 3-week high vs. Aussie on RBA rate cut
Tuesday, 2 August 2016, 5:25 pm | BusinessDesk
NZ dollar gains to 3-week high vs. Aussie on RBA rate cut; dairy auction looms More >>
Reserve Bank of Australia cuts cash rate to 1.5%
Tuesday, 2 August 2016, 4:42 pm | BusinessDesk
Aug. 2 (BusinessDesk) - The Reserve Bank of Australia has cut its cash rate to 1.5 percent, a fall of 25 basis points. More >>
Inflation expectations barely budge in latest RBNZ survey
Tuesday, 2 August 2016, 4:24 pm | BusinessDesk
Aug. 2 (BusinessDesk) - New Zealand inflation expectations barely budged in the Reserve Bank's latest quarterly survey, suggesting the prospect of little increase in prices is becoming entrenched after undershooting the bank's target for eight straight quarters. More >>
DairyNZ cuts breakeven price for dairy farmers to $5.05/kgMS
Tuesday, 2 August 2016, 4:21 pm | BusinessDesk
Aug. 2 (BusinessDesk) - DairyNZ has revised down its anticipated breakeven price for the average farmer to $5.05 per kilogram of milk solids for the current season from $5.25 for 2015/16. More >>
Zespri working with Chinese authorities
Tuesday, 2 August 2016, 3:27 pm | BusinessDesk
Aug. 2 (BusinessDesk) - Zespri International, the kiwifruit marketer and exporter, says it is working with Chinese authorities who are monitoring New Zealand kiwifruit closely after some fruit entering the country was found with a fruit rot fungus. More >>
Perpetual Guardian eyes $150 mln IPO by year-end
Tuesday, 2 August 2016, 3:25 pm | BusinessDesk
Aug. 2 (BusinessDesk) - Perpetual Guardian, which embarked on a series of acquisitions over the past three years, plans to list its shares publicly by the end of 2016 in a $150 million initial public offering. More >>
New LVRs curbs may have only temporary impact
Tuesday, 2 August 2016, 1:22 pm | BusinessDesk
Aug. 2 (BusinessDesk) - The Reserve Bank's latest lending restrictions on property investors could see nationwide house sales fall as much as 25 percent in a year, but the effects would be temporary and won't help curb house price growth in Auckland, ... More >>
NZ home values rise at fastest quarterly pace in 12 years
Tuesday, 2 August 2016, 1:09 pm | BusinessDesk
Aug. 2 (BusinessDesk) - New Zealand residential property values rose at the fastest quarterly rate in 12 years, with the national average value of a house now topping $600,000. More >>
NZME-Fairfax says merger concerns misplaced
Tuesday, 2 August 2016, 1:06 pm | BusinessDesk
Aug. 2 (BusinessDesk) - Fairfax Media and NZME's response to submissions on their merger proposal says the lack of opposition from advertisers indicates a competitive advertising market will remain if the two media groups are allowed to combine. More >>
Wrightson shares hit 14-month high after profit upgrade
Tuesday, 2 August 2016, 11:25 am | BusinessDesk
Aug. 2 (BusinessDesk) - PGG Wrightson shares rose to their highest level since May last year after First NZ Capital analysts followed the company's profit upgrade yesterday by raising their price target for the stock. More >>
