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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 590]
UPDATE: NZME's Boggs to do shareholder rounds
Thursday, 16 June 2016, 1:10 pm | BusinessDesk
June 16 (BusinessDesk) - NZME chief executive Michael Boggs will spend the next 10 days meeting and greeting current and potential investors after APN News & Media shareholders overwhelmingly backed plans to carve out the New Zealand unit. More >>
Inflation unlikely to go any lower
Thursday, 16 June 2016, 1:03 pm | BusinessDesk
June 16 (BusinessDesk) - New Zealand's 0.4 percent annual rate of inflation probably won't go any lower as a slump in oil prices and a cut to the Accident Compensation Corp levies are unlikely to be repeated, Finance Minister Bill English says. More >>
NZ primary sector export goals remain a stretch
Thursday, 16 June 2016, 1:01 pm | BusinessDesk
NZ goal of doubling primary sector exports to $64B by 2025 remains a stretch target, MPI says More >>
UPDATE: NZ economy grows faster-than-forecast 0.7%
Thursday, 16 June 2016, 12:48 pm | BusinessDesk
UPDATE: NZ economy grows faster-than-forecast 0.7% in first quarter; kiwi dollar jumps More >>
The set-top box emerges as key in Sky/Vodafone merger
Thursday, 16 June 2016, 12:26 pm | BusinessDesk
The set-top box emerges as key in Sky/Vodafone merger, First NZ Capital says More >>
APN shareholders to vote on NZME as standalone business
Thursday, 16 June 2016, 11:14 am | BusinessDesk
June 16 (BusinessDesk) - APN News & Media's 6,933 shareholders will today vote on whether to carve out NZME as a standalone business, leaving with stock in separate media companies on each side of the Tasman. More >>
NZ economy grows faster than forecast
Thursday, 16 June 2016, 11:10 am | BusinessDesk
June 16 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar rose after the data was released. More >>
Ice cream sales in China to trial through Alibaba's Tmall
Thursday, 16 June 2016, 9:46 am | BusinessDesk
June 16 (BusinessDesk) - Fonterra Cooperative Group is to trial online sales of its Tip Top ice cream brand in China online via Alibaba's Tmall platform. More >>
Business Bakery sells down Trilogy holding
Thursday, 16 June 2016, 9:24 am | BusinessDesk
June 16 (BusinessDesk) - Business Bakery will reduce its holding in Trilogy International, taking advantage of a 326 percent gain in the skincare and home fragrance company's shares in the past 12 months. More >>
NZ dollar jumps after Fed signals lower growth
Thursday, 16 June 2016, 8:51 am | BusinessDesk
June 16 (BusinessDesk) - The New Zealand dollar jumped after the Federal Reserve kept interest rates unchanged and signalled the pace of future increases will be slower than previously expected. More >>
While you were sleeping: Fed hits rate pause button
Thursday, 16 June 2016, 7:59 am | BusinessDesk
June 16 (BusinessDesk) - The Federal Open Market Committee kept interest rates on hold, and signalled an even more gradual path for any future rate increases, bolstering bets on both equities and US Treasuries. Still gains were checked by global growth ... More >>
Dairy product prices steady, whole milk powder drops
Thursday, 16 June 2016, 6:30 am | BusinessDesk
June 16 (BusinessDesk) - Dairy product prices were steady at the Global Dairy Trade auction, as a drop in whole milk powder offset gains in cheddar and butter amid concern about increasing supply. More >>
NZ dollar recovers from week-low ahead of FOMC
Wednesday, 15 June 2016, 5:34 pm | BusinessDesk
June 15 (BusinessDesk) - The New Zealand dollar rose from its lowest level in a week ahead of the Federal Reserve's latest policy statement in the US and economic growth figures at home and traders are bracing for more market volatility as Britain's European ... More >>
Goodring, Betterlife fined $171,500
Wednesday, 15 June 2016, 5:17 pm | BusinessDesk
June 15 (BusinessDesk) - Truck-shop operators Goodring Co and Betterlife Corp have been fined a total of $171,500 after the first such sentences under the strengthened Credit Contracts and Consumer Finance Act 2003 (CCCFA) that came into force last ... More >>
King Country Energy reports $8.1 mln profit
Wednesday, 15 June 2016, 4:56 pm | BusinessDesk
June 15 (BusinessDesk) - King Country Energy, the Taumarunui-based power generator and retailer, says profit in the fifteen months to the end of March 2016 was $8.1 million, up from $3.8 million in calendar 2014. More >>
A2 Milk shares jumped 14% on improved guidance
Wednesday, 15 June 2016, 3:58 pm | BusinessDesk
June 15 (BusinessDesk) - A2 Milk shares rose 14 percent after the milk marketing company raised its full-year guidance and said it is well placed to cope with changes to infant formula regulations in China. More >>
Air NZ to join in discounted Virgin Australia rights offer
Wednesday, 15 June 2016, 1:03 pm | BusinessDesk
June 15 (BusinessDesk) - Air New Zealand will take part in Virgin Australia's planned A$852 million rights issue, even though the national carrier plans to offload the bulk of its stake to China's Nanshan Group. More >>
NZ should be net beneficiary of clampdown on tax avoidance
Wednesday, 15 June 2016, 12:37 pm | BusinessDesk
June 15 (BusinessDesk) - New Zealand should reap more gains than losses in a worldwide clampdown on multinational firms using complicated structures to avoid paying tax, Revenue Minister Michael Woodhouse says. More >>
Foley Family Wines pays growers early for record vintage
Wednesday, 15 June 2016, 12:11 pm | BusinessDesk
June 15 (BusinessDesk) - Foley Family Wines, the NZAX-listed company majority owned by US businessman Bill Foley, will bring forward the final payment to its grape growers for its 2016 vintage, reflecting the strength of its balance sheet. More >>
Augusta Capital sells Auckland finance centre buildings
Wednesday, 15 June 2016, 10:56 am | BusinessDesk
June 15 (BusinessDesk) - Augusta Capital, the listed property investor and fund manager, has sold its Auckland Finance Centre for $96 million, dependent on shareholder approval. More >>
