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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 568]
China Animal Husbandry to take 72% stake in Mataura Valley
Thursday, 28 July 2016, 12:57 pm | BusinessDesk
July 28 (BusinessDesk) - State-owned China Animal Husbandry will take a 72 percent stake in Mataura Valley Milk in exchange for funding construction of a $200 million milk powder manufacturing plant in Gore. More >>
England wastes no time overhauling executive team
Thursday, 28 July 2016, 12:40 pm | BusinessDesk
July 28 (BusinessDesk) - Genesis Energy chief executive Marc England, who took up the role in May, has announced an overhaul of his management team, with three executives departing and Chris Jewell confirmed as chief financial officer. More >>
FMA issues conduct guidance as market correction risk grows
Thursday, 28 July 2016, 11:24 am | BusinessDesk
July 28 (BusinessDesk) - The Financial Markets Authority wants firms to have a better idea of its view on good business conduct as it races to shore up the country's regulatory framework in an environment of growing risk of market corrections. More >>
Palliser Estate founder Richard Riddiford dies
Thursday, 28 July 2016, 11:16 am | BusinessDesk
July 28 (BusinessDesk) - Richard Riddiford, the wine industry personality who founded and co-owns Martinborough-based Palliser Estate Wines, has died after a short illness at the age of 65. More >>
Quin takes Callaghan beyond 'start-up'
Thursday, 28 July 2016, 10:59 am | BusinessDesk
July 28 (BusinessDesk) – Next week Mary Quin will drop her dog off at the boarding kennels before hopping on a plane bound for her nephew’s wedding in Poland. More >>
Commerce Commission considers Wallace rendering plant merger
Thursday, 28 July 2016, 10:49 am | BusinessDesk
July 28 (BusinessDesk) - The Commerce Commission is considering a merger of meat rendering plants. More >>
Australian court victory won't deter NZ litigants
Thursday, 28 July 2016, 10:15 am | BusinessDesk
July 28 (BusinessDesk) - Australia's High Court has dismissed an appeal in a class action suit against fees charged by Australia & New Zealand Banking Group but the ruling won't necessarily derail a similar representative action over bank fees in ... More >>
NZ dollar gains after cautiously upbeat Fed
Thursday, 28 July 2016, 8:46 am | BusinessDesk
July 28 (BusinessDesk) - The New Zealand dollar rose after the Federal Reserve said near-term risks for the world's biggest economy were diminishing, keeping on track expectations for an interest rate hike this year. More >>
Unexpected bedfellows emerge in early Unitary Plan reactions
Thursday, 28 July 2016, 8:45 am | BusinessDesk
July 27 (BusinessDesk) - Early reaction to the recommendations of an independent hearings panel for the final version of Auckland's new Unitary Plan has exposed some unexpected bedfellows, with Labour and Auckland's peak business body finding much ... More >>
While you were sleeping: Dollar gains on Fed
Thursday, 28 July 2016, 7:39 am | BusinessDesk
July 28 (BusinessDesk) - The US dollar climbed, while Wall Street reversed earlier losses, after Federal Reserve policy makers signalled that interest rates might rise this year. More >>
NZ stocks drop, A2 Milk falls ahead of legal challenge
Wednesday, 27 July 2016, 11:38 pm | BusinessDesk
July 27 (BusinessDesk) - New Zealand shares dipped for a second day in a row, led lower by A2 Milk Co and Steel & Tube Holdings while Fletcher Building rose on construction expectations. More >>
NZD gains against 'whippy' yen on stimulus speculation
Wednesday, 27 July 2016, 5:29 pm | BusinessDesk
July 27 (BusinessDesk) - The New Zealand dollar rose against the yen after a report that Japan may be preparing to announce a bigger-than-expected stimulus package on Friday. More >>
Silver Fern Farms opposition shareholders set out vision
Wednesday, 27 July 2016, 4:45 pm | BusinessDesk
July 27 (BusinessDesk) - The leaders of a group of Silver Fern Farm shareholders opposed to the sale of a controlling stake of New Zealand's largest meat processor to China's Shanghai Maling Aquarius for $261 million have set out a competing vision ... More >>
Goodman Property Trust wants to increase business park
Wednesday, 27 July 2016, 4:08 pm | BusinessDesk
July 27 (BusinessDesk) - Goodman Property Trust, New Zealand's second-largest listed property investor, says it believes the best returns will be delivered through industrial and business park properties in Auckland. More >>
Former RAM investor argues entitlement to 'fantasy' returns
Wednesday, 27 July 2016, 4:01 pm | BusinessDesk
July 27 (BusinessDesk) - Former Ross Asset Management investor Hamish McIntosh told the Supreme Court he was entitled to fictitious returns on $500,000 he invested with the failed Ross Asset Management that one judge on the bench said were "a fantasy" ... More >>
UPDATE: Trustpower 'very disappointed' with judgement
Wednesday, 27 July 2016, 3:47 pm | BusinessDesk
July 27 (BusinessDesk) - Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More >>
Bigger, denser, less rule-bound Auckland recommended
Wednesday, 27 July 2016, 2:44 pm | BusinessDesk
July 27 (BusinessDesk) - Auckland will be more densely populated, have a 30 percent larger new urban area and a far less prescriptive set of rules for new residential developments than the plan put forward by the Auckland Council, if recommendations ... More >>
NZ farmers least pessimistic in 2 years
Wednesday, 27 July 2016, 1:35 pm | BusinessDesk
July 27 (BusinessDesk) - New Zealand farmer confidence improved to a two-year high heading into the new season, though sentiment remains negative. More >>
Allied Farmers shares jump 16% on earnings upgrade
Wednesday, 27 July 2016, 12:22 pm | BusinessDesk
July 27 (BusinessDesk) - Allied Farmers shares jumped 16 percent after the rural services firm gave a rosier view on annual earnings due to a better than expected performance from its livestock division. More >>
Ryman flags new $200 mln village for Auckland's Hobsonville
Wednesday, 27 July 2016, 11:47 am | BusinessDesk
July 27 (BusinessDesk) - Ryman Healthcare, the country's biggest retirement village operator, has bought a 4 hectare site in Auckland's Hobsonville for a $200 million development, marking its 10th village in New Zealand's largest city. More >>
