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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 572]
RBNZ says rate cut seems likely
Thursday, 21 July 2016, 9:26 am | BusinessDesk
July 21 (BusinessDesk) - The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More >>
Justice Toogood on bench for Richmond case appeal
Thursday, 21 July 2016, 9:21 am | BusinessDesk
July 21 (BusinessDesk) - Justice Kit Toogood sits on the bench today for Affco New Zealand's appeal against an Employment Court ruling that the rights of seasonal workers were preserved in the off-season, a decision that overturned a precedent-setting ... More >>
While you were sleeping: Microsoft lifts Dow
Thursday, 21 July 2016, 9:05 am | BusinessDesk
July 21 (BusinessDesk) - Wall Street moved higher, setting fresh records, as better-than-expected earnings from Microsoft and Morgan Stanley underpinned optimism about the outlook for corporate profits. More >>
NZ dollar falls ahead of RBNZ economic assessment
Thursday, 21 July 2016, 8:54 am | BusinessDesk
July 21 (BusinessDesk) - The New Zealand dollar fell ahead of the Reserve Bank's update on the economy this morning, where governor Graeme Wheeler is expected to flag an interest rate cut next month. More >>
Supreme Court to hear another Trinity appeal
Thursday, 21 July 2016, 8:52 am | BusinessDesk
July 20 (BusinessDesk) - The Supreme Court has agreed to hear an appeal by the architect of the Trinity forestry scheme, Garry Muir, in the long-running tax dispute, which has already visited the country's top court several times. More >>
NZ shares rise to record, Xero, Metlifecare gain
Thursday, 21 July 2016, 8:47 am | BusinessDesk
July 20 (BusinessDesk) - New Zealand shares rose to a new record with Xero, Metlifecare and Steel & Tube Holdings gaining while Air New Zealand dropped on its June operating statistics More >>
NZ dollar edges up from lows as August rate cut priced in
Wednesday, 20 July 2016, 5:22 pm | BusinessDesk
NZ dollar edges up from lows ahead of RBNZ update as August rate cut priced in More >>
ANZ boss warns on property market
Wednesday, 20 July 2016, 5:13 pm | BusinessDesk
July 20 (BusinessDesk) - ANZ Bank New Zealand chief executive David Hisco, who head's up New Zealand's biggest lender, has warned property prices in Auckland are overcooked and the ending of the property boom will be "messy". More >>
Zespri sees SFO bill ballooning to $7.3 million
Wednesday, 20 July 2016, 4:27 pm | BusinessDesk
July 20 (BusinessDesk) - Zespri International, the kiwifruit marketer, says its total bill for a Serious Fraud Office investigation has now risen to $6.8 million, with a further $500,000 set aside to cover costs in its 2015/16 accounts. More >>
Vital Healthcare raises $160M
Wednesday, 20 July 2016, 4:26 pm | BusinessDesk
July 20 (BusinessDesk) - Vital Healthcare Property Trust has raised $160 million after its existing investors took up 87 percent of the units in the two-for-nine renounceable rights offer. More >>
Westpac imposing RBNZ's new home lending rules from today
Wednesday, 20 July 2016, 4:24 pm | BusinessDesk
July 20 (BusinessDesk) - Westpac Banking Corp has announced it will not take any new loan applications from property investors who do not have a 40 percent deposit from 4.30pm this afternoon, some six weeks earlier than required by the Reserve Bank. More >>
$35 mln to attract world-leading university entrepreneurs
Wednesday, 20 July 2016, 4:03 pm | BusinessDesk
July 20 (BusinessDesk) - The government is investing $35 million over four years into a new initiative, Entrepreneurial Universities, to attract world-leading entrepreneurial researchers and their teams to New Zealand to further strength the country’s universities ... More >>
Xero to beef up product offer
Wednesday, 20 July 2016, 2:46 pm | BusinessDesk
July 20 (BusinessDesk) - Xero will start offering new services as it seeks to transform the platform founded on accounting software into the online portal of choice for small businesses. More >>
Urban Maori, Fisheries Commission agree to work together
Wednesday, 20 July 2016, 12:57 pm | BusinessDesk
July 20 (BusinessDesk) - National Urban Māori representative John Tamihere says the group wants to work with Te Ohu Kaimoana, the Māori Fisheries Commission, after a ruling by Wellington's High Court that the commission's appointment of iwi-affiliated ... More >>
Supreme Court overturns Mobil's $10M cleanup order
Wednesday, 20 July 2016, 11:57 am | BusinessDesk
July 20 (BusinessDesk) - Mobil Oil New Zealand has succeeded in a Supreme Court challenge to a $10 million bill imposed for the clean-up of a contaminated former oil storage site in Auckland's Wynyard Quarter. More >>
Incubator The Icehouse reviews long-term target
Wednesday, 20 July 2016, 10:52 am | BusinessDesk
July 20 (BusinessDesk) - Business growth and start-up incubator The Icehouse has added more diversity to its governance with a number of appointments to its board and charitable-based owner. More >>
TeamTalk hires former Alcatel-Lucent NZ boss Andrew Miller
Wednesday, 20 July 2016, 10:27 am | BusinessDesk
July 20 (BusinessDesk) - TeamTalk has hired former Alcatel-Lucent NZ boss Andrew Miller as chief executive of the telecommunications network firm. More >>
Council seeks interest from community housing providers
Wednesday, 20 July 2016, 10:12 am | BusinessDesk
July 20 (BusinessDesk) - The Horowhenua District Council and the government are asking for interest from community housing providers to take over the running of 364 properties under the government's social housing reform programme. More >>
Lenders poised to pounce as new restrictions loom
Wednesday, 20 July 2016, 9:09 am | BusinessDesk
July 20 (BusinessDesk) - The Reserve Bank's new restrictions on highly-leveraged home loans are likely to be a boon to non-bank lenders, which make up a fraction of all mortgages but aren't covered by lending curbs on banks. More >>
While you were sleeping: IMF downgrades, Netflix drops
Wednesday, 20 July 2016, 8:52 am | BusinessDesk
July 20 (BusinessDesk) - Wall Street moved lower as disappointing earnings from Netflix, among others, and the International Monetary Fund’s downgrade of its outlook for the global economy weighed on sentiment. More >>
