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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 571]
Godfrey Hirst granted leave for narrow appeal
Friday, 22 July 2016, 2:11 pm | BusinessDesk
July 22 (BusinessDesk) - Australian-owned carpet maker Godfrey Hirst has been given a small window to appeal a High Court ruling as it continues efforts to stop New Zealand's largest wool scouring operations from merging. More >>
Dip in June milk collection not as big as previously thought
Friday, 22 July 2016, 10:56 am | BusinessDesk
July 22 (BusinessDesk) - Fonterra Cooperative Group says the decline in milk collection last month wasn't as big as previously thought because the extra day of a leap year mucked up its modelling. More >>
NZ staff turnover rising as balance tips
Friday, 22 July 2016, 10:53 am | BusinessDesk
July 22 (BusinessDesk) - Staff turnover is rising with more workers in New Zealand willing to risk taking on a new job in the current economic climate. More >>
NZ dollar little changed after RBNZ signals rate cuts
Friday, 22 July 2016, 8:46 am | BusinessDesk
July 22 (BusinessDesk) - The New Zealand dollar was little changed below 70 US cents after the Reserve Bank signalled rate cuts were needed to drag down a strong currency which has restricted imported inflation in the economy. More >>
While you were sleeping: Intel, Southwest slide
Friday, 22 July 2016, 7:44 am | BusinessDesk
July 22 (BusinessDesk) - Wall Street fell, weighed down by shares of Intel and Southwest Airlines following disappointing earnings. More >>
MARKET CLOSE: NZ shares gain, Steel & Tube and Xero advance
Thursday, 21 July 2016, 6:43 pm | BusinessDesk
July 21 (BusinessDesk) - New Zealand shares gained as investors were buoyed by potential interest rate cuts, with Steel & Tube Holdings, Xero and Westpac Banking Corp gaining, while New Zealand Refining Co fell. More >>
NZ dollar drops below 70 US cents after RBNZ flags rate cuts
Thursday, 21 July 2016, 5:29 pm | BusinessDesk
July 21 (BusinessDesk) - The New Zealand dollar fell dropped below 70 US cents and weakened against most all the major currencies following a Reserve Bank update that signalled further interest rate cuts are looming. More >>
Justice Toogood, Meat Industry Assn to grace Affco appeal
Thursday, 21 July 2016, 5:14 pm | BusinessDesk
July 21 (BusinessDesk) - Justice Kit Toogood and the Meat Industry Association survived challenges from the New Zealand Meat Workers Union to grace Affco Holdings' Court of Appeal hearing today, where it sought to reclaim the notion that seasonal workers ... More >>
All five leading retail banks require 40% property deposit
Thursday, 21 July 2016, 5:04 pm | BusinessDesk
July 21 (BusinessDesk) - All five of the country's leading retail banks have acted early to introduce restrictions on lending to property investors as part of the Reserve Bank's bid to slow the heated housing market. More >>
Fairfax exploits Canterbury market share, Chch Star says
Thursday, 21 July 2016, 4:25 pm | BusinessDesk
July 21 (BusinessDesk) - Star Media, the Christchurch-based publisher of giveaway local newspapers, says Fairfax Media uses its community paper for predatory advertising pricing and shuts The Star out of advertising deals. More >>
Serco keeps million dollar interpreter contract
Thursday, 21 July 2016, 3:42 pm | BusinessDesk
July 21 (BusinessDesk) - Serco Australia's citizen services division has kept its $1 million contract to provide interpretation services for a growing number of non-English speaking New Zealanders. More >>
Auckland Council raising $200 mln in bond offer
Thursday, 21 July 2016, 1:48 pm | BusinessDesk
July 21 (BusinessDesk) - Auckland Council will raise up to $200 million through a 10-year retail bond issue, at a higher indicative margin than its last offer in March. More >>
Livestock Improvement Corp sinks into the red
Thursday, 21 July 2016, 12:24 pm | BusinessDesk
July 21 (BusinessDesk) - Livestock Improvement Corp, the farmer-owned dairy herd genetics, farm software and automation cooperative, dipped into the red in 2016 as farmers scaled back spending because of the dairy downturn, which weighed on the ... More >>
NZ migration, tourism boom continues in June
Thursday, 21 July 2016, 11:55 am | BusinessDesk
July 21 (BusinessDesk) - New Zealand's booming migration extended its run of posting new records in June, though economists say it may have peaked, while tourism numbers also continued their strong growth. More >>
Three major bank lenders introduce lending restrictions
Thursday, 21 July 2016, 11:54 am | BusinessDesk
July 21 (BusinessDesk) - ASB Bank and ANZ Bank New Zealand have followed Westpac Banking Corp's lead in clamping down on lending to property investors by requiring at least a 40 percent deposit ahead of Reserve Bank restrictions. More >>
Z dumps supermarket discounts; BP launches in-car payment
Thursday, 21 July 2016, 11:40 am | BusinessDesk
July 21 (BusinessDesk) - The battle for customer loyalty between fuel retailers is heating up, with Z Energy dropping supermarket docket-based discounts for a new Fly Buys offer, while its primary rival, BP, is launching a phone app allowing petrol ... More >>
ANZ joins Westpac in restricting loans early
Thursday, 21 July 2016, 11:18 am | BusinessDesk
July 21 (BusinessDesk) - ANZ Bank New Zealand is the second bank to announce it will not take any new loan applications from property investors who do not have a 40 percent deposit, some six weeks earlier than required by the Reserve Bank More >>
RBNZ's 'clear' message gets traction in pushing down kiwi
Thursday, 21 July 2016, 11:16 am | BusinessDesk
July 21 (BusinessDesk) - The Reserve Bank's "clear" message that interest rates are set to plumb a new record-low achieved got the desired effect in pushing the kiwi dollar to a month-low. More >>
Tougher admission rules to hit NZ companies with ASX listing
Thursday, 21 July 2016, 10:43 am | BusinessDesk
July 20 (BusinessDesk) - New admissions rules by the Australian Stock Exchange represent a new hurdle for the accelerating number of New Zealand companies listing across the Tasman. More >>
Allnex A$1 billion takeover delayed beyond August
Thursday, 21 July 2016, 10:36 am | BusinessDesk
July 21 (BusinessDesk) - Global resins maker Nuplex Industries says the planned A$1 billion takeover by Allnex is now not likely to take place in August as previously advised because of delays getting anti-trust clearance in the European Union. More >>
