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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 566]
MediaWorks appoints oOh! Media's Anderson as CEO
Tuesday, 2 August 2016, 10:41 am | BusinessDesk
Aug. 2 (BusinessDesk) - MediaWorks Investments has hired oOh! Media chairman Michael Anderson to lead the free-to-air broadcaster, replacing Mark Weldon who left the company in May citing the "personal cost" of the role being "too high". More >>
NZ dollar rises to 3-week high vs. Australian dollar
Tuesday, 2 August 2016, 10:39 am | BusinessDesk
NZ dollar rises to 3-week high vs. Australian dollar on bets for RBA rate cut More >>
While you were sleeping: Energy stocks slide with oil
Tuesday, 2 August 2016, 7:52 am | BusinessDesk
Aug 2 (BusinessDesk) - Wall Street was mixed to start its week, with energy stocks falling alongside a drop in the price of oil. More >>
Update: Shareholders want to reduce Robinson Rakon influence
Monday, 1 August 2016, 5:21 pm | BusinessDesk
The New Zealand Shareholders Association wants to reduce the influence of Rakon's founding Robinson family on the listed high-tech components manufacturer, to improve its performance. More >>
PGG Wrightson says annual profit rose about 20%; shares gain
Monday, 1 August 2016, 5:11 pm | BusinessDesk
PGG Wrightson shares gained 4.5 percent after it said full-year profit rose about 20 percent and operating earnings beat guidance, which had already been upgraded on the strength of the horticulture and beef sectors. More >>
All Valleygirl and TEMT fashion stores close, bar Queen St
Monday, 1 August 2016, 5:10 pm | BusinessDesk
Aug. 1 (BusinessDesk) - The receivers appointed to the Valleygirl and TEMT fashion stores in New Zealand have closed all bar one store, on Queen Street in Auckland. More >>
Positive cashflow for dairy farmers 'unlikely' until 2018
Monday, 1 August 2016, 4:22 pm | BusinessDesk
Aug. 1 (BusinessDesk) - ANZ Bank New Zealand, the country's bigger lender, has warned dairy farmers are unlikely to see positive cashflow for another 18 months. More >>
Kiwi, UK researchers funded to pursue Alzheimer's treatment
Monday, 1 August 2016, 3:46 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Locally developed synthetic compounds showing good results in slowing the progress of Alzheimer's disease have got an $857,000 injection aimed at formulating a treatment and ultimately bringing it to market. More >>
House sale stats continue to mislead on foreign buyers
Monday, 1 August 2016, 3:25 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Statistics intended to allay concerns about the number of houses being bought by foreigners continue to show only about 3 percent of buyers are foreign tax residents, but the Labour Party insists the figures are misleading. More >>
Fairfax Media writes down NZ assets by A$95.3 million
Monday, 1 August 2016, 3:23 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Fairfax Media, which is currently in talks to merge its New Zealand business with NZME, has written down the value of its NZ assets by A$95.3 million. More >>
McClay plans to make more out of existing free-trade deals
Monday, 1 August 2016, 1:59 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Trade Minister Todd McClay will hit the public hustings, giving people the opportunity to have their say on a shift in making the most out of the free-trade deals New Zealand already has in place. More >>
MYOB pays $28.5M for NZ-based Greentree enterprise business
Monday, 1 August 2016, 1:48 pm | BusinessDesk
Aug. 1 (BusinessDesk) - MYOB, the Australian payment software developer, has continued its run of acquisitions, buying New Zealand enterprise resource planning (ERP) software writer Greentree for $28.5 million. More >>
NZ Post appoints Jane Taylor as new chair
Monday, 1 August 2016, 10:54 am | BusinessDesk
Aug. 1 (BusinessDesk) - Barrister and professional director Jane Taylor will become chair of New Zealand Post Group in October, the government has announced. More >>
Association wants to reduce Robinson influence on Rakon
Monday, 1 August 2016, 10:28 am | BusinessDesk
Aug. 1 (BusinessDesk) - The New Zealand Shareholders Association wants to reduce the influence of Rakon's founding Robinson family on the listed high-tech components manufacturer, to improve its performance. More >>
Harmoney to plead guilty to misleading consumers
Monday, 1 August 2016, 10:00 am | BusinessDesk
Aug. 1 (BusinessDesk) - The Commerce Commission says Harmoney will plead guilty to charges of misleading consumers after the regulator filed charges against New Zealand's first and biggest peer-to-peer lender under the Fair Trading Act. More >>
Precinct signs Crown to long-term leases in Wellington
Monday, 1 August 2016, 9:26 am | BusinessDesk
Aug. 1 (BusinessDesk) - Precinct Properties New Zealand has signed the Crown to a series of long-term leases across four of its buildings in Wellington which it says will generate about $500 million of income over the next 15 years. More >>
Fonterra forecast milk price unchanged at $4.25/kgMS
Monday, 1 August 2016, 9:09 am | BusinessDesk
Aug. 1 (BusinessDesk) - Fonterra Cooperative Group kept its forecast farmgate milk price unchanged at $4.25 per kilogram of milk solids while proposing a change to the way it calculates the payout that could add 5 cents/kgMS. More >>
NZ dollar rises to two-week high
Monday, 1 August 2016, 8:31 am | BusinessDesk
Aug. 1 (BusinessDesk) - The New Zealand dollar rose to a two-week high after figures showed the US economy grew less than expected in the second quarter while some economists are becoming more bullish about the domestic economy. More >>
Stubbs sets out to 'disrupt' high fees KiwiSaver plans
Monday, 1 August 2016, 8:30 am | BusinessDesk
July 31 (BusinessDesk) - The former chief executive of KiwiSaver provider Tower, Sam Stubbs, is turning from gamekeeper to poacher with the launch of a new KiwiSaver fund that he says will charge fees at half the rate of most existing schemes and ... More >>
World Week Ahead: US jobs, Bank of England
Monday, 1 August 2016, 8:27 am | BusinessDesk
Aug. 1 (BusinessDesk) - After the Federal Open Market Committee signalled it might hike interest rates this year, investors will closely watch the latest US jobs data including the government’s nonfarm payrolls report on Friday. More >>
