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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 583]
Z Energy affirms savings forecast from Caltex tie-up
Thursday, 30 June 2016, 9:49 am | BusinessDesk
June 30 (BusinessDesk) - Z Energy still expects to cut annual costs by between $25 million and $30 million from its acquisition of Chevron New Zealand, and has started the process to sell 19 service stations which was a condition of the tie-up. More >>
Financial advisers have lifted their game
Thursday, 30 June 2016, 9:34 am | BusinessDesk
June 30 (BusinessDesk) - New Zealand's financial advisers have lifted their game since a new regime came into effect six years ago, leaving the practice of switching life insurance policies between providers as one of the last holes left for the regulator ... More >>
While you were sleeping: Stocks, oil rally
Thursday, 30 June 2016, 8:51 am | BusinessDesk
June 30 (BusinessDesk) - Global equites extended their rally amid bets central banks will help ease the impact of the UK’s decision to leave the European Union on the global economy and corporate profits. More >>
NZ dollar pushes above 71 US cents
Thursday, 30 June 2016, 8:49 am | BusinessDesk
June 30 (BusinessDesk) - The New Zealand dollar popped above 71 US cents overnight as investors regained some confidence after the UK last week voted to leave the European Union. More >>
Bill English says NZ well placed to deal with Brexit turmoil
Wednesday, 29 June 2016, 9:17 pm | BusinessDesk
June 29 (BusinessDesk) - Finance Minister Bill English has insisted New Zealand is better placed than most countries to manage any turmoil generated by the decision of British voters to back leaving the European Union. More >>
MARKET CLOSE: NZ stocks rise along with global markets
Wednesday, 29 June 2016, 9:15 pm | BusinessDesk
June 29 (BusinessDesk) - New Zealand stocks rose on stronger turnover as global markets bounced following days of selling, with Metro Performance Glass, Xero and A2 Milk Co gaining. More >>
NZ dollar gains as Brexit-induced volatility eases
Wednesday, 29 June 2016, 5:14 pm | BusinessDesk
June 29 (BusinessDesk) - The New Zealand dollar gained as the extreme level of volatility in financial markets since last week's British vote to quit the European Union eased a little, though the prospect of another rate cut could ensure any rally is short-lived. More >>
Hellaby Holdings jumps 7% on sale of equipment group
Wednesday, 29 June 2016, 4:33 pm | BusinessDesk
June 29 (BusinessDesk) - Shares in Hellaby Holdings are the biggest riser on the NZX, jumping 7.3 percent to $2.65 off the back of the sale of its equipment group to a private equity fund for $81 million. More >>
Christchurch convention centre build to proceed without PCNZ
Wednesday, 29 June 2016, 4:14 pm | BusinessDesk
June 29 (BusinessDesk) - After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original ... More >>
R&D grants stop companies gaming system to get tax credits
Wednesday, 29 June 2016, 12:35 pm | BusinessDesk
June 29 (BusinessDesk) - New Zealand's research and development grant system administered through Callaghan Innovation stops companies gaming the system by reclassifying spending to qualify for tax credits, Science and Innovation Minister Steven Joyce says. More >>
FMA puts advisers on notice over replacement life insurance
Wednesday, 29 June 2016, 11:11 am | BusinessDesk
June 29 (BusinessDesk) - The Financial Markets Authority is keeping a close watch on the small group of financial advisers selling large volumes of replacement life insurance, which could be driving up the cost for consumers. More >>
Spark completes $200m upgrade of customer service platform
Wednesday, 29 June 2016, 9:54 am | BusinessDesk
June 29 (BusinessDesk) - Spark New Zealand has completed a $200 million programme upgrading the backend for its customer service IT platforms putting all of its clients on to a single system and making it easier for the company's front-line staff. More >>
Hellaby agrees to sell equipment unit to Maui Capital
Wednesday, 29 June 2016, 9:08 am | BusinessDesk
June 29 (BusinessDesk) - Hellaby Holdings agreed to sell its equipment group to private equity group Maui Capital Aqua Fund for $81 million, and will use the funds to reduce debt and expand its core automotive and resource services groups. More >>
NZ dollar takes a breather after bout of Brexit volatility
Wednesday, 29 June 2016, 8:47 am | BusinessDesk
June 29 (BusinessDesk) - The New Zealand dollar was little changed as traders took a breather following a period of volatility after the UK voted to leave the European Union last week. More >>
While you were sleeping: Stocks, pound rebound
Wednesday, 29 June 2016, 7:38 am | BusinessDesk
June 29 (BusinessDesk) - Equities on both sides of the Atlantic rose as investors picked up some bargains following a two-day Brexit-inspired rout amid expectations that central banks will follow through on their promise to help if needed. More >>
MARKET CLOSE: NZ shares rise as investors seek stability
Tuesday, 28 June 2016, 7:59 pm | BusinessDesk
June 28 (BusinessDesk) - New Zealand shares rose as investors embraced the local market's insulation from global turmoil and high yields, with Spark New Zealand, Precinct Properties and Summerset Group rising. More >>
NZD back above 70c US after UK's Cameron says no Brexit rush
Tuesday, 28 June 2016, 5:28 pm | BusinessDesk
The New Zealand dollar rose back above 70 US cents after British Prime Minister David Cameron reiterated he would leave Brexit negotiations to his successor and won't invoke article 50 of the Lisbon Treaty that would begin the process for leaving the ... More >>
Big Food backs changes to s.36 of Commerce Act
Tuesday, 28 June 2016, 4:41 pm | BusinessDesk
Big Food backs changes to s.36 of Commerce Act to curtail power of big supermarkets More >>
Smiths City boss Roy Campbell lifts holding in retailer
Tuesday, 28 June 2016, 4:21 pm | BusinessDesk
June 28 (BusinessDesk) - Smiths City Group chief executive Roy Campbell has increased his holding in the retailer he joined in 2015 buying shares in an off-market purchase. More >>
5.2% of NZ households owe more than they own
Tuesday, 28 June 2016, 3:23 pm | BusinessDesk
June 28 (BusinessDesk) - A new government data set shows about 5.2 percent of New Zealand households owe more than they own at a time when low interest rates have made borrowing more attractive. More >>
