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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 589]
Callaghan conflicts of interest stymie funding for agritech
Friday, 17 June 2016, 4:02 pm | BusinessDesk
June 17 (BusinessDesk) - The founders of a company aimed at solving what they say is the single biggest threat to New Zealand dairy farming – nitrate leaching into waterways from cow urine – are looking for $3 million in investment backing after ... More >>
NZ consumer confidence recovers in June
Friday, 17 June 2016, 1:34 pm | BusinessDesk
June 17 (BusinessDesk) - New Zealand consumer confidence recovered in June, reversing May's drop, as an improving labour market, house price growth and a stronger New Zealand dollar improved sentiment. More >>
Iranian migrants who scammed 7 banks found guilty
Friday, 17 June 2016, 1:18 pm | BusinessDesk
June 17 (BusinessDesk) - Three Iranian migrants and a family friend have been found guilty of mortgage fraud after they scammed seven banks using forged documents and aliases in a $9.2 million scheme involving 11 Auckland properties between July 2007 ... More >>
British American Tobacco scales back NZ business
Friday, 17 June 2016, 12:37 pm | BusinessDesk
June 17 (BusinessDesk) - British American Tobacco's New Zealand business has lost responsibility for strategic decisions, leaving it principally a distribution point for the cigarette maker in an increasingly hostile market. More >>
EU continues to pump more milk even amid weak dairy prices
Friday, 17 June 2016, 12:19 pm | BusinessDesk
June 17 (BusinessDesk) - European Union dairy production has continued to increase, even as output eased in other major exporting countries in response to low milk prices, according to Fonterra Cooperative Group's latest Global Dairy Update. More >>
Trilogy's placement 'significantly' oversubscribed
Friday, 17 June 2016, 12:18 pm | BusinessDesk
June 17 (BusinessDesk) - Trilogy International, whose shares have soared 326 percent in the past 12 months, says its share placement and the selldown by major shareholder The Business Bakery was "significantly oversubscribed" and the skincare ... More >>
NZ manufacturing firms up in May as production surges
Friday, 17 June 2016, 12:18 pm | BusinessDesk
June 17 (BusinessDesk) - New Zealand manufacturing activity continued to firm in May as production surged, while employment resumed its expansion. More >>
Fletcher Residential signs $130mn housing agreement
Friday, 17 June 2016, 10:40 am | BusinessDesk
June 17 (BusinessDesk) - Fletcher Building's residential division has signed an agreement with the government to build 196 homes on surplus Crown land in Auckland. More >>
Ninety-day trial period has no impact on firms' hiring
Friday, 17 June 2016, 10:38 am | BusinessDesk
June 17 (BusinessDesk) - The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More >>
Spierings reshuffles Fonterra management team again
Friday, 17 June 2016, 10:37 am | BusinessDesk
June 17 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings has reshuffled the roles of some of his top managers for the third time in a year in changes he says will sharpen the commercial and customer focus at the world's ... More >>
NZ dollar hits 3-year low vs. Japanese yen
Friday, 17 June 2016, 8:52 am | BusinessDesk
NZ dollar hits 3-year low vs. Japanese yen after BOJ refrains from adding further stimulus More >>
While you were sleeping: Wall St pares losses
Friday, 17 June 2016, 6:45 am | BusinessDesk
June 17 (BusinessDesk) - Wall Street fluctuated, with equities paring some of their earlier losses, as investors geared up for Britain’s potential exit from the European Union, a fate that hinges on a June 23 referendum. More >>
NZD gains as economic growth reduces prospects of rate cut
Thursday, 16 June 2016, 5:24 pm | BusinessDesk
The New Zealand dollar gained after figures showed the economy grew faster than the Reserve Bank had forecast in the first quarter, giving it less reason to cut interest rates again. More >>
Artificial pollinator wins Fieldays Innovation award
Thursday, 16 June 2016, 5:15 pm | BusinessDesk
June 16 (BusinessDesk) - A pollination device that has the potential to significantly lift orchardgate returns for the kiwifruit industry has won the Launch NZ Innovation award at this year’s Fieldays. More >>
Chow Group posts profit of $8 mln after reverse listing
Thursday, 16 June 2016, 5:01 pm | BusinessDesk
June 16 (BusinessDesk) - The Chow Group, the NZAX-listed vehicle controlled by John and Michael Chow, has posted an unaudited profit after tax of $8 million in its first year as a listed company. More >>
NZ hotel occupancy rates hit five-year high in 2015
Thursday, 16 June 2016, 3:47 pm | BusinessDesk
June 16 (BusinessDesk) - Tourism Industry Aotearoa, which represents 140 New Zealand hotels, says occupancy rates hit a five-year high in 2015. More >>
Serco exits equity stake, remains as operator
Thursday, 16 June 2016, 3:41 pm | BusinessDesk
June 16 (BusinessDesk) - Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More >>
Independent Liquor sold The Mill liquor chain for $12 mln
Thursday, 16 June 2016, 3:29 pm | BusinessDesk
June 14 (BusinessDesk) - Independent Liquor NZ sold The Mill liquor chain for a total of $12 million, its financial accounts show. More >>
Joyce disagrees with Treasury's per-capita GDP forecast
Thursday, 16 June 2016, 3:15 pm | BusinessDesk
June 16 (BusinessDesk) - A string of better-than-expected data points to faster economic growth on a per capita basis than Treasury's projections, Economic Development Minister Steven Joyce says. More >>
Envirowaste lifts 2015 profit 50%
Thursday, 16 June 2016, 2:45 pm | BusinessDesk
June 16 (BusinessDesk) - Envirowaste Services, New Zealand's second-biggest waste management firm, boosted annual profit 50 percent as its Mastagard acquisition and a growing population helped lift sales. More >>
