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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 588]
NZ dollar gains on polls suggesting Brexit less likely
Monday, 20 June 2016, 5:17 pm | BusinessDesk
June 20 (BusinessDesk) - The New Zealand dollar rose after polls over the weekend indicated Britain is less likely to vote to leave the European Union, stoking risk sentiment and demand for growth-linked currencies such as the kiwi. More >>
Foreigners still needed to cover tourism workforce shortfall
Monday, 20 June 2016, 5:01 pm | BusinessDesk
June 20 (BusinessDesk) - New Zealand's tourism sector still needs foreigners to cover a gap in the workforce as government and industry look at ways to attract visitors off-peak to create more certainty for full-time jobs and generate local career pathways, ... More >>
Fitch keeps Kiwibank on negative watch pending decision
Monday, 20 June 2016, 4:01 pm | BusinessDesk
June 20 (BusinessDesk) - Fitch Ratings has kept state-owned Kiwibank on negative rating watch during its annual review of the lender's credit rating. More >>
Campaign for class action against Wynyard launched
Monday, 20 June 2016, 2:20 pm | BusinessDesk
June 20 (BusinessDesk) - Two fund managers are seeking support for a class action by shareholders of software company Wynyard Group to recover losses since the share price has plunged following a disappointing annual result and a heavily discounted ... More >>
Rejection of R&D grant from CEO's brother on merit
Monday, 20 June 2016, 2:20 pm | BusinessDesk
June 20 (BusinessDesk) - Callaghan Innovation says its rejection of a funding application from a company involving the chief executive’s brother was declined by the board based on its merits rather than any conflict of interest. More >>
UPDATE: APN gets OIO approval for demerger plan
Monday, 20 June 2016, 12:41 pm | BusinessDesk
June 20 (BusinessDesk) - APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More >>
Australia's Skydive the Beach expands NZ assets
Monday, 20 June 2016, 12:27 pm | BusinessDesk
June 20 (BusinessDesk) - ASX-listed Skydive the Beach Group, which operates Skydive NZone in Queenstown, will expand its footprint in New Zealand with the $10.4 million purchase of Skydive Wanaka. More >>
Asahi's Better Drinks Co writes off $42M of goodwill
Monday, 20 June 2016, 12:07 pm | BusinessDesk
June 20 (BusinessDesk) - The Better Drinks Co, which includes New Zealand assets bought by Japanese brewer Asahi Group during an acquisition spree in 2011, has taken a $42.3 million impairment to write off all of its goodwill, resulting in an annual ... More >>
Pace of growth in service industries slows in May
Monday, 20 June 2016, 11:59 am | BusinessDesk
June 20 (BusinessDesk) - The pace of growth in New Zealand's services sector slowed in May, although a steady stream of inbound migration continues to stoke demand. More >>
James Pascoe lifts Warehouse stake to 17.5%
Monday, 20 June 2016, 11:00 am | BusinessDesk
June 20 (BusinessDesk) - James Pascoe, the retail group owned by David and Anne Norman, has lifted its holding in Warehouse Group to 17.5 percent buying shares on-market last week. More >>
NZ consumer confidence dips in June quarter
Monday, 20 June 2016, 10:59 am | BusinessDesk
June 20 (BusinessDesk) - New Zealand consumer confidence fell below its long-run average in the June quarter as Kiwis become increasingly nervous about an economy being driven by population growth while per-capita growth stalls. More >>
APN in trading halt ahead of announcement
Monday, 20 June 2016, 10:58 am | BusinessDesk
June 20 (BusinessDesk) - APN News & Media is in a trading halt on the NZX pending an announcement by the company. More >>
GFNZ to revert to Geneva Finance
Monday, 20 June 2016, 9:53 am | BusinessDesk
June 20 (BusinessDesk) - GFNZ Group plans to revert to its old name of Geneva Finance and carry out a seven-for-one consolidation to boost its share price. More >>
Silver Fern on collision course with dissident shareholders
Monday, 20 June 2016, 9:36 am | BusinessDesk
June 20 (BusinessDesk) - Time is running out for the proposed tie-up between Silver Fern Farms and a major Chinese investor as a June 30 deadline looms with no recent work on the application by the Overseas Investment Office and a July 11 special meeting ... More >>
Ralec's Pym says Clear hoped rebates would lure major buyers
Monday, 20 June 2016, 8:56 am | BusinessDesk
June 20 (BusinessDesk) - The former owners of the Clear Grain Exchange believed that providing rebates to major buyers would put the business on a stronger financial footing even though they would have eaten through most of the fees generated from ... More >>
NZ dollar falls to 12-day low vs. Pound
Monday, 20 June 2016, 8:51 am | BusinessDesk
June 20 (BusinessDesk) - The New Zealand dollar fell to a 12-day low against the British pound as polls showed falling support for the UK leaving the European Union in this week's referendum. More >>
World Week Ahead: Will UK stay or go?
Monday, 20 June 2016, 8:49 am | BusinessDesk
June 20 (BusinessDesk) - British voters will determine this week whether the country will remain in the European Union, a decision that will be closely eyed by investors around the world. More >>
Erceg vs. Erceg goes another round
Friday, 17 June 2016, 5:20 pm | BusinessDesk
June 17 (BusinessDesk) - The Supreme Court has granted former superyacht builder Ivan Erceg leave to appeal in a long-running and bitter family stoush over the fortune of the late Independent Liquor magnate, Michael Erceg. More >>
NZ dollar heads for 0.2% weekly dip on Brexit nerves
Friday, 17 June 2016, 5:18 pm | BusinessDesk
June 17 (BusinessDesk) - The New Zealand dollar is heading for a 0.2 percent decline against the greenback this week as investors shy away from taking strong positions ahead of June 23 referendum in the UK on whether to quit its membership of the European ... More >>
Reckitt Benckiser cuts goodwill
Friday, 17 June 2016, 4:24 pm | BusinessDesk
June 17 (BusinessDesk) - Reckitt Benckiser (New Zealand), the local division of the consumer goods business, sliced off more than a third of its goodwill in 2015, a year when its Nurofen painkiller packaging attracted the attention of competition ... More >>
