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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 58]
Innovate on climate challenge or lose the public
Thursday, 30 May 2019, 10:30 am | BusinessDesk
May 29 (BusinessDesk) - Industry must demonstrate its ability to innovate and respond to climate challenge if it is to maintain the support of the voting public, Regional Economic Development Minister Shane Jones says. More >>
Budget leak: no Treasury hack, say police
Thursday, 30 May 2019, 10:23 am | BusinessDesk
May 30 (BusinessDesk) - Police investigating a leak of sensitive Budget information have determined that the Treasury's computer system was not 'hacked'. More >>
MARKET CLOSE: NZ shares fall on Commercial Bay delays
Wednesday, 29 May 2019, 8:56 pm | BusinessDesk
May 29 (BusinessDesk) - New Zealand shares fell, with Fletcher Building and Precinct Properties New Zealand under pressure on news the Commercial Bay development is running behind schedule and facing more cost overruns. More >>
NZ dollar steady, interest rates dip as RBNZ holds
Wednesday, 29 May 2019, 8:28 pm | BusinessDesk
May 29 (BusinessDesk) - The New Zealand dollar was little changed although interest rates fell after the Reserve Bank held its loan-to-valuation restriction settings steady. More >>
RBNZ used a 'net benefits framework'
Wednesday, 29 May 2019, 7:23 pm | BusinessDesk
May 29 (BusinessDesk) - The Reserve Bank has used a “net benefits framework” in devising its bank capital proposals, governor Adrian Orr told parliament’s finance and expenditure select committee. More >>
Hawke's Bay Regional Council go ahead with Napier Port IPO
Wednesday, 29 May 2019, 7:21 pm | BusinessDesk
Hawke's Bay Regional Council to go ahead with Napier Port IPO, likely in early July More >>
Budget Leak: Most cyber-leaks come from internal sources
Wednesday, 29 May 2019, 7:20 pm | BusinessDesk
May 29 (BusinessDesk) - Most information leaks come from "malicious" or "inadvertent" releases from internal sources rather than via hacking, says Mark Shaw, a technology strategist for cyber-security software provider Symantec. More >>
Contact Energy to spend $30M on geothermal appraisal wells
Wednesday, 29 May 2019, 7:19 pm | BusinessDesk
May 29 (BusinessDesk) - Contact Energy will spend $30 million on a series of appraisal wells on Taupo's Tauhara geothermal steamfield as it builds towards a final investment decision for a new power station in 2020. More >>
Fast-track urban development law introduced to Parliament
Wednesday, 29 May 2019, 7:17 pm | BusinessDesk
May 29 (BusinessDesk) - The first in a two-part legislative process to create a central government body with powers to fast-track urban infrastructure and housing development in cities where growth issues are acute has been introduced to Parliament. More >>
Asset Plus profit gains on cheaper operating costs, interest
Wednesday, 29 May 2019, 5:48 pm | BusinessDesk
Asset Plus profit gains on cheaper operating costs, interest bill More >>
Business confidence a tad higher but construction a red flag
Wednesday, 29 May 2019, 4:40 pm | BusinessDesk
Business confidence a tad higher but residential construction a red flag More >>
Vector depreciation bid rejected in ComCom DPP reset
Wednesday, 29 May 2019, 2:54 pm | BusinessDesk
May 29 (BusinessDesk) - Vector, the country’s biggest electricity distributor, has had its request to accelerate depreciation on its network assets turned down by the Commerce Commission. More >>
UPDATE: Precinct's Commercial Bay development faces delays
Wednesday, 29 May 2019, 2:36 pm | BusinessDesk
May 29 (BusinessDesk) - Precinct Properties New Zealand says its high profile Commercial Bay development being built by Fletcher Building will now take even longer and cost more. More >>
Pacific Edge shares tumble 14% after FY net loss
Wednesday, 29 May 2019, 2:21 pm | BusinessDesk
May 29 (BusinessDesk) - Pacific Edge's shares fell 14 percent, despite reporting a smaller full year net loss as more people adopted its Cxbladder cancer diagnostics tests. More >>
Turners may shed Oxford Finance, EC Credit
Wednesday, 29 May 2019, 2:17 pm | BusinessDesk
May 29 (BusinessDesk) - Turners Automotive Group may sell its Oxford Finance and EC Credit debt collection units as it attempts to streamline the business. It has already ditched the Buy Right Cars brand at a cost of $4.3 million. More >>
UPDATE: RBNZ's Orr sees a 'resilient' financial system
Wednesday, 29 May 2019, 1:29 pm | BusinessDesk
May 29 (BusinessDesk) - Reserve Bank governor Adrian Orr is less concerned about housing loans but is still fretting about a third of dairy debt and is also flagging the rapid growth in lending to the horticulture sector. More >>
Precinct's Commercial Bay development faces more delays
Wednesday, 29 May 2019, 1:25 pm | BusinessDesk
May 29 (BusinessDesk) - Precinct Properties New Zealand says its high profile Commercial Bay development being built by Fletcher Building will now take even longer and cost more. More >>
RBNZ says ANZ has to hold more capital against lending
Wednesday, 29 May 2019, 1:02 pm | BusinessDesk
May 29 (BusinessDesk) - The Reserve Bank has imposed new conditions of registration on ANZ Bank requiring it to hold more capital against housing and farm lending from June 30. More >>
Stride sees flat dividend for another year
Wednesday, 29 May 2019, 1:01 pm | BusinessDesk
May 29 (BusinessDesk) - Stride Property Group posted a 20 percent drop in annual profit due to a smaller property revaluation gain. It expects to pay a flat dividend for another year as it continues with a new strategy of managing other people's properties ... More >>
Green Cross Health lifts net profit 3.2%
Wednesday, 29 May 2019, 12:41 pm | BusinessDesk
May 29 (BusinessDesk) - Green Cross Health said net profit lifted 3.2 percent as its medical division posted a strong result. However its community health division faced funding challenges and its pharmacy division saw its gross margin decline. More >>
