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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 573]
NZ little changed near month-low on RBNZ easing bias
Wednesday, 20 July 2016, 8:50 am | BusinessDesk
July 20 (BusinessDesk) - The New Zealand dollar was little changed near its lowest levels in almost a month on speculation the Reserve Bank will have a clear run at cutting interest rates after announcing plans for further mortgage lending restrictions. More >>
NZ shares gain, Auckland Airport, SkyCity and Moa rally
Wednesday, 20 July 2016, 8:49 am | BusinessDesk
July 19 (BusinessDesk) - New Zealand shares hit another record high in light turnover, with Auckland International Airport, SkyCity Entertainment Group and Moa Group gaining, while Comvita fell. More >>
While you were sleeping: IMF downgrades, Netflix drops
Wednesday, 20 July 2016, 7:32 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 >>
Dairy product prices steady; whole milk powder rises
Wednesday, 20 July 2016, 6:26 am | BusinessDesk
July 20 (BusinessDesk) - Dairy product prices were mixed at the Global Dairy Trade auction, as a gain in whole milk powder offset a decline for most other products. More >>
NZD, swap rates fall as market sees room for two RBNZ cuts
Tuesday, 19 July 2016, 5:26 pm | BusinessDesk
July 19 (BusinessDesk) - The New Zealand dollar dropped and swap rates fell to record lows after the Reserve Bank announced plans to extend restrictions on mortgage lending, stoking speculation it may have room to cut interest rates twice in the next eight ... More >>
Serko CFO Tim Bluett resigns
Tuesday, 19 July 2016, 5:19 pm | BusinessDesk
July 19 (BusinessDesk) - Serko chief financial officer Tim Bluett has resigned and will leave the online travel booking company in October. More >>
Silver Fern Farms says profit wiped out in 2016
Tuesday, 19 July 2016, 4:20 pm | BusinessDesk
July 19 (BusinessDesk) - Silver Fern Farms, the country's largest meat processor, has warned farmer shareholders that it now expects to only break-even in the current financial year, down from a pre-tax profit of $27.16 million in the previous year. More >>
Oceania Natural raises $3.5mn to set up Hong Kong office
Tuesday, 19 July 2016, 3:21 pm | BusinessDesk
July 19 (BusinessDesk) - Oceania Natural, the food supplements maker which listed on the NXT at the end of March, has raised about $3.5 million from investors in a joint venture to establish a Hong Kong-based subsidiary. More >>
Zespri says reports of pressure from Beijing are false
Tuesday, 19 July 2016, 3:20 pm | BusinessDesk
July 19 (BusinessDesk) - Kiwifruit marketer Zespri says reports that it was called to a meeting in Beijing or has been pressured by the Chinese government over a potential Ministry for Business, Innovation and Employment inquiry into the dumping of Chinese ... More >>
Tech incubator Powerhouse revalues portfolio pre-ASX listing
Tuesday, 19 July 2016, 2:11 pm | BusinessDesk
July 19 (BusinessDesk) - Technology incubator Powerhouse Ventures has recorded a $7.7 million increase in the fair value of its investments in early stage start-ups in just six months as it readies itself for a listing on the Australian Securities ... More >>
NZ dollar falls after RBNZ clears path for lower rates
Tuesday, 19 July 2016, 11:18 am | BusinessDesk
July 19 (BusinessDesk) - The New Zealand dollar dropped after the Reserve Bank opened the door for interest rate cuts as soon as next month with the extension of mortgage loan restrictions set for September. More >>
RBNZ signals national roll-out of lending restrictions
Tuesday, 19 July 2016, 9:41 am | BusinessDesk
July 19 (BusinessDesk) - The Reserve Bank plans to roll-out tougher lending restrictions across the nation from September in an effort to mitigate the risk the country's rapid house price growth poses to the wider financial system. More >>
Tower CFO Brett Wilson resigns after 16 months
Tuesday, 19 July 2016, 9:18 am | BusinessDesk
July 19 (BusinessDesk) - Tower chief financial officer Brett Wilson has resigned 16 months after the general insurer lured him across from Seniors Money International. More >>
NZ dollar rises from near three-week low
Tuesday, 19 July 2016, 8:49 am | BusinessDesk
July 19 (BusinessDesk) - The New Zealand dollar bounced from near a three-week low as investors weigh up whether the Reserve Bank will try to jawbone a persistently strong currency lower and indicate an interest rate cut is likely next month. More >>
While you were sleeping: Earnings boost sentiment
Tuesday, 19 July 2016, 7:36 am | BusinessDesk
July 19 (BusinessDesk) - Better-than-expected earnings such as from Bank of America as well as a US$32 billion tech deal helped bolster equities on both sides of the Atlantic. More >>
NZ shares gain; Metro Glass, Tower, Trade Me rise
Monday, 18 July 2016, 10:26 pm | BusinessDesk
July 18 (BusinessDesk) - New Zealand shares rose, led by Metro Performance Glass, Tower and Trade Me Group, with little corporate news to drive prices ahead of earnings season. More >>
NZ caught in global backlash against Chinese steel imports
Monday, 18 July 2016, 5:31 pm | BusinessDesk
The Chinese government wants New Zealand to maintain its reputation for "not being difficult" on trade issues, fearing that if Wellington imposes countervailing duties on Chinese steel imports, other countries will escalate the international backlash ... More >>
NZD falls as weak inflation data adds to case for rate cut
Monday, 18 July 2016, 5:17 pm | BusinessDesk
NZ dollar falls as weak inflation data adds to case for rate cut in August More >>
Unlisted Pacific Property Fund seeks to raise $15 mln
Monday, 18 July 2016, 4:24 pm | BusinessDesk
July 18 (BusinessDesk) - Pacific Property Fund, an unlisted commercial property fund established three years ago, is seeking to raise $15 million selling shares to buy two Auckland properties and fund the construction of a new warehouse in Tauranga ... More >>
Smartpay shares soar to 20-month high on tiny volumes
Monday, 18 July 2016, 4:12 pm | BusinessDesk
July 18 (BusinessDesk) - Smartpay shares jumped to a 20-month high on tiny volumes, marking the biggest gain on the NZX's main board today. More >>
