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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 586]
Hellaby to buy TBS Group for $45M plus earnouts
Thursday, 23 June 2016, 4:35 pm | BusinessDesk
June 23 (BusinessDesk) - Hellaby Holdings is to buy maintenance and engineering contractor TBS Group for $45 million plus $6 million of earn-outs in a deal that needed an NZX waiver because of links between TBS's biggest shareholder and Hellaby managing director ... More >>
UPDATE: Michael Hill shareholders support restructuring
Thursday, 23 June 2016, 1:21 pm | BusinessDesk
June 23 (BusinessDesk) - Michael Hill International shareholders have voted overwhelmingly in favour of a restructuring plan that would shift the jewellery chain into a new company incorporated in Australia and listed on the ASX. More >>
Motor Trade Finance rejects takeover offers as too low
Thursday, 23 June 2016, 12:35 pm | BusinessDesk
June 23 (BusinessDesk) - Motor Trade Finance has rejected all offers from parties looking to acquire all or part of the Dunedin-based auto-financier, saying they undervalued the business. More >>
Tighter relationship gives FMA confidence in NZX's oversight
Thursday, 23 June 2016, 11:25 am | BusinessDesk
June 23 (BusinessDesk) - A closer relationship between NZX and the Financial Markets Authority means the market watchdog has more confidence in the stock market operator's ability to deal with issues when they crop up. More >>
TEC seeks $1.47M refund from Intueri
Thursday, 23 June 2016, 11:09 am | BusinessDesk
June 23 (BusinessDesk) - Intueri Education Group must repay $1.47 million plus tax to the Tertiary Education Commission (TEC) after an investigation into its dive school showed some student enrolments between 2009–2014 could not be validated and some ... More >>
Pumpkin Patch affirms earnings guidance as director quits
Thursday, 23 June 2016, 10:40 am | BusinessDesk
June 23 (BusinessDesk) - Pumpkin Patch director Josette Prince is the latest resignation from the ailing retailer's boardroom, with the company using her abrupt departure to affirm earnings guidance. More >>
CBL Corp to buy French insurance creator for 94 mln euro
Thursday, 23 June 2016, 9:26 am | BusinessDesk
June 23 (BusinessDesk) - CBL Corp plans to buy France's Securities and Financial Solutions Europe SA (SFS) for 94 million euros, taking over its biggest customer in a deal expected to lift the credit and financial risk insurer's earnings. More >>
Godfrey Hirst to challenge High Court ruling
Thursday, 23 June 2016, 9:23 am | BusinessDesk
June 23 (BusinessDesk) - Godfrey Hirst, the Australian carpet maker, has sought leave of the High Court to challenge its June 8 ruling that dismissed an appeal against a merger of New Zealand's wool scouring operations that would give rival Cavalier ... More >>
Michael Hill outlines 'succession plan'
Thursday, 23 June 2016, 9:11 am | BusinessDesk
June 23 (BusinessDesk) - Michael Hill, the founder of the jewellery chain that bears his name, has outlined what is described as a "succession plan" for his family's controlling stake in the company, with 10 percent of the company to be transferred ... More >>
NZ dollar trade-weighted index breaches 76
Thursday, 23 June 2016, 8:39 am | BusinessDesk
June 23 (BusinessDesk) - The trade-weighted index of the New Zealand dollar rose above 76 for the first time in 13 months and is now almost 5 percent above the average level the Reserve Bank projected for the second quarter as polls showed the Brexit ... More >>
While you were sleeping: Brexit keeps lid on stocks
Thursday, 23 June 2016, 6:53 am | BusinessDesk
June 23 (BusinessDesk) - Wall Street was mixed ahead of the UK’s referendum on the country’s membership in the European Union. More >>
MARKET CLOSE: NZ shares drop as Brexit fears ease
Thursday, 23 June 2016, 12:34 am | BusinessDesk
June 22 (BusinessDesk) - New Zealand shares dropped as fears the UK will exit the European Union continued to dissipate, prompting some offshore investors to exit what they'd seen as a relatively safe haven market. Auckland International Airport, ... More >>
NZD gains as risk sentiment picks up ahead of Brexit vote
Wednesday, 22 June 2016, 5:37 pm | BusinessDesk
June 22 (BusinessDesk) - The New Zealand dollar rose as polls showing there's a good chance Britain will vote to remain in the European Union this week helped restore risk appetite and underpinned equity markets, commodities and growth-linked currencies ... More >>
Uber urges drivers to challenge NZTA illegality ruling
Wednesday, 22 June 2016, 2:12 pm | BusinessDesk
June 22 (BusinessDesk) - Ridesharing service company Uber says it would encourage Kiwi drivers facing enforcement action from the New Zealand Transport Agency for flouting the driver endorsement rules to challenge that in court. More >>
Former SPGI director Turnock sentenced to home detention
Wednesday, 22 June 2016, 2:05 pm | BusinessDesk
June 22 (BusinessDesk) - Mark Turnock, former company director of SPG Investment Company No 1 (SPGI), has been sentenced to home detention and community work for making false statements in the company's financial accounts. More >>
Seeka packs record kiwifruit volumes in NZ
Wednesday, 22 June 2016, 11:37 am | BusinessDesk
June 22 (BusinessDesk) - Seeka Kiwifruit Industries said it handled record volumes in the latest packing season, exceeding 30 million trays handled in New Zealand for the first time. More >>
NZ tourism, migration boom continues in May
Wednesday, 22 June 2016, 11:35 am | BusinessDesk
June 22 (BusinessDesk) - New Zealand's booming tourism and migration were extended in May as the economy's two biggest support planks continued to set annual records. More >>
TVNZ boss Kevin Kenrick to join BNZ's board
Wednesday, 22 June 2016, 10:45 am | BusinessDesk
June 22 (BusinessDesk) - Television New Zealand chief executive Kevin Kenrick has been appointed to the board of lender Bank of New Zealand. More >>
Stride's Investore IPO priced at top of the range
Wednesday, 22 June 2016, 10:22 am | BusinessDesk
June 22 (BusinessDesk) - Stride Property's plan to spin out and list its Investore Property subsidiary has been priced at the top of the range by institutional investors in an initial public offering set to raise $185 million. More >>
Pushpay board seeks increased director remuneration
Wednesday, 22 June 2016, 10:07 am | BusinessDesk
June 22 (BusinessDesk) - Pushpay Holdings, whose mobile payment app allows churches to raise money from parishioners, wants shareholder approval to more than double remuneration for non-executive board members and potentially appoint two US-based ... More >>
