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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 592]
While you were sleeping: Stocks fall before Fed meets
Tuesday, 14 June 2016, 7:44 am | BusinessDesk
June 14 (BusinessDesk) - Equities on both sides of the Atlantic fell, while US Treasuries gained, as investors positioned themselves for the start of a US Federal Reserve policy meeting and next week’s UK vote on Britain’s membership in the European ... More >>
NZ dollar slips as traders await deluge of information
Monday, 13 June 2016, 5:09 pm | BusinessDesk
June 13 (BusinessDesk) - The New Zealand dollar slipped as traders await a slew of information on Thursday, including a dairy auction, the US Federal Reserve rate decision, and local gross domestic product figures. More >>
DB Breweries cuts dividend to owner Heineken
Monday, 13 June 2016, 4:39 pm | BusinessDesk
June 13 (BusinessDesk) - DB Breweries owner Heineken cut the dividend it took from the New Zealand brewer by more than a third in 2015, despite a rise in profits. More >>
Kiwi may be volatile with slew of data, Brexit uncertainty
Monday, 13 June 2016, 3:00 pm | BusinessDesk
June 13 (BusinessDesk) - The New Zealand dollar may be in for a volatile ride this week as traders face a slew of local data, the Federal Reserve decision on US interest rates, and continued uncertainty around Britain's referendum next week on European ... More >>
Allnex offer for Nuplex within independent valuation range
Monday, 13 June 2016, 2:49 pm | BusinessDesk
June 13 (BusinessDesk) - Allnex Belguim SA's $1.05 billion offer for Nuplex Industries falls within the independent valuation range for the resins maker, prompting the target's board to reiterate its unanimous backing for the deal. More >>
Weldon pushed for due diligence on Clear to be hurried
Monday, 13 June 2016, 2:26 pm | BusinessDesk
June 13 (BusinessDesk) - Former chief executive Mark Weldon knew NZX's due diligence team wasn't convinced Clear would be a success but pushed ahead with the acquisition anyway, an ex-NZX staff member has told Wellington's High Court. More >>
Long-serving Overseas Investment Office head sidelined
Monday, 13 June 2016, 1:37 pm | BusinessDesk
June 13 (BusinessDesk) - The long-serving director of the Overseas Investment Office, Annliese McClure, has effectively been sidelined by the appointment of a "new short-term deputy chief executive" at Land Information New Zealand, whose job is "to focus on ... More >>
TeamTalk shares slump to record low on lack of dividend
Monday, 13 June 2016, 12:36 pm | BusinessDesk
June 13 (BusinessDesk) - TeamTalk shares slumped to a record low after the telecommunications network company downgraded earnings guidance and said it won't pay a final dividend this year as its 2012 purchase of rural broadband provider Farmside continues to ... More >>
Burger King widens full-year loss on Kiwi Pacific charge
Monday, 13 June 2016, 12:28 pm | BusinessDesk
June 13 (BusinessDesk) - Blackstone Group's Burger King chain in New Zealand widened its annual loss after taking a charge against its Kiwi Pacific joint venture and incurring higher finance and raw material costs. More >>
GFNZ boosts annual profit 61% on widening margins
Monday, 13 June 2016, 12:25 pm | BusinessDesk
June 13 (BusinessDesk) - GFNZ Group lifted annual profit 61 percent as the finance company, formerly known as Geneva Finance, grew the size of its loan book while widening margins in a low interest rate environment. More >>
Airwork lifts earnings guidance
Monday, 13 June 2016, 10:40 am | BusinessDesk
June 13 (BusinessDesk) - Airwork Holdings, the aviation service provider, raised its annual earnings guidance after signing new customers from its expanded fleet. More >>
Brierley's tilt at cashed-up Kirkcaldie lapses
Monday, 13 June 2016, 10:09 am | BusinessDesk
June 13 (BusinessDesk) - Veteran corporate raider Ron Brierley's bid for Kirkcaldie & Stains has lapsed after he failed to attract enough acceptances from shareholders of the cashed-up retailer. More >>
Kiwis too self-critical, says tech innovation expert
Monday, 13 June 2016, 9:53 am | BusinessDesk
June 13 (BusinessDesk) - The Israeli technology expert who helped kickstart New Zealand’s tech incubator programme says this country’s worst problem is self-criticism. More >>
Pyne Gould's NZX suspension lifted after first-half results
Monday, 13 June 2016, 9:34 am | BusinessDesk
June 13 (BusinessDesk) - Pyne Gould Corp shares are allowed to trade again, ending a seven-month suspension, after the asset manager controlled by George Kerr filed its first-half results. More >>
Fliway warns loss of major customer will hurt 2017 earnings
Monday, 13 June 2016, 9:32 am | BusinessDesk
June 13 (BusinessDesk) - Fliway, the listed transport and logistics group, expects the loss of a large customer will hurt revenue and earnings next financial year. More >>
World Week Ahead: Fed meets, Brexit watch
Monday, 13 June 2016, 9:13 am | BusinessDesk
June 13 (BusinessDesk) - As the US Federal Open Market Committee begins a two-day policy meeting on Tuesday, few bet it will raise interest rates this week and investors will scrutinise Fed Chair Janet Yellen’s post-gathering press conference for any ... More >>
NZ dollar hits 13-month high vs. British pound
Monday, 13 June 2016, 8:49 am | BusinessDesk
June 13 (BusinessDesk) - The New Zealand dollar touched its highest level against the British pound in 13 months and is approaching the 50 British pence level, with recent signs British voters are leaning towards an exit from the European Union, ... More >>
NZ dollar falls from 12-month high, greenback gains
Friday, 10 June 2016, 5:16 pm | BusinessDesk
NZ dollar falls from 12-month high as rate cut bets re-emerge, greenback gains More >>
BNZ follows other banks with foreign house buyer restriction
Friday, 10 June 2016, 4:57 pm | BusinessDesk
June 10 (BusinessDesk) - Bank of New Zealand has joined ANZ Bank New Zealand and Westpac Banking Corp's local unit in restricting mortgage lending for foreign property buyers, following similar steps by their Australian parents. More >>
Will Air NZ's sale of Virgin shares spark special dividend?
Friday, 10 June 2016, 3:31 pm | BusinessDesk
June 10 (BusinessDesk) - There are mixed views on whether Air New Zealand is likely to pay shareholders a special dividend following the sale of a 19.98 percent stake in Virgin Australia to Chinese conglomerate Nanshan Group for about A$268 million. More >>
