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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 593]
Powerhouse invests in collaboration for cancer detection
Friday, 10 June 2016, 2:46 pm | BusinessDesk
June 10 (BusinessDesk) - Technology incubator Powerhouse Ventures is backing a new company developing a cancer-detecting magnetic probe based on collaborative Australia and New Zealand university research. More >>
BP New Zealand more than triples annual profit
Friday, 10 June 2016, 2:30 pm | BusinessDesk
BP New Zealand more than triples annual profit as petrol chains widen margins on cheap oil More >>
Google NZ gets less revenue from parent in 2015
Friday, 10 June 2016, 2:29 pm | BusinessDesk
June 10 (BusinessDesk) - Google New Zealand, the local unit of the global search engine, received less revenue from its parent and related companies in 2015 as the Project Loon broadband pilot project was scaled back from 2014, even though it continued ... More >>
Shareholders send Fonterra back to drawing board
Friday, 10 June 2016, 1:33 pm | BusinessDesk
Fonterra Cooperative Group says it will consider amending constitutional changes that would allow it to shrink its board and adopt a new system for electing farmer directors after failing to win support for the measures at a special meeting of shareholders. More >>
UPDATE: Stride plans to demerge and list property subsidiary
Friday, 10 June 2016, 12:30 pm | BusinessDesk
June 10 (BusinessDesk) - Stride Property will list its wholly-owned subsidiary Investore Property after an initial public offering as part of its strategy to retain its portfolio investment entity (PIE) tax status. More >>
NZ guest nights rise to a record in April
Friday, 10 June 2016, 11:58 am | BusinessDesk
June 10 (BusinessDesk) - New Zealand guest nights rose in April for the 25th month as soaring tourist numbers helped mark a new record for the month. More >>
NZ credit, debt card retail spending slips in May
Friday, 10 June 2016, 11:26 am | BusinessDesk
June 10 (BusinessDesk) - New Zealanders cut their retail spending on credit and debit cards for the first time in 13 months in May, as people reduced expenditure on hospitality, petrol and vehicles. More >>
Stride amends plans for Investore unit with demerger
Friday, 10 June 2016, 10:05 am | BusinessDesk
June 10 (BusinessDesk) - Stride Property will list its wholly-owned subsidiary Investore Property after an initial public offering, changing its earlier plans of spinning out the unit but keeping it in a 'stapled structure. More >>
Air NZ sells stake in Virgin Australia
Friday, 10 June 2016, 9:56 am | BusinessDesk
June 10 (BusinessDesk) - Air New Zealand, the country's national carrier, sold a 19.98 percent stake in Virgin Australia to Chinese company Nanshan Group, which owns Qingdao Airlines, and said it's considering options for its remaining 6 percent holding ... More >>
NZ dollar little changed at elevated levels
Friday, 10 June 2016, 9:00 am | BusinessDesk
June 10 (BusinessDesk) - The New Zealand dollar held at elevated levels after the Reserve Bank yesterday kept interest rates on hold, keeping the country's yields attractive as other central banks cut rates. More >>
New restrictions on overseas property buyers
Friday, 10 June 2016, 8:42 am | BusinessDesk
June 9 (BusinessDesk) - Two of New Zealand's biggest banks have imposed new restrictions on overseas property buyers. More >>
Spark falls, SkyTV gains on Vodafone merger plan
Friday, 10 June 2016, 8:40 am | BusinessDesk
June 9 (BusinessDesk) - New Zealand shares fell on concern Spark New Zealand would face a stronger rival should Sky Network Television, the biggest gainer on the day, conclude its merger plan with Vodafone New Zealand. More >>
While you were sleeping: Stocks take breather
Friday, 10 June 2016, 7:35 am | BusinessDesk
June 10 (BusinessDesk) - Equities on both sides of the Atlantic fell as investors reassessed whether the outlook for economic growth warrants valuations near record highs. More >>
NZ dollar soars above 71 US cents as OCR unchanged
Friday, 10 June 2016, 1:47 am | BusinessDesk
June 9 (BusinessDesk) - The New Zealand dollar surged after the Reserve Bank kept the official cash rate unchanged and governor Graeme Wheeler said he didn't want to provide any more stimulus to an overheated housing market, stoking speculation ... More >>
Banks impose new restrictions on overseas property buyers
Thursday, 9 June 2016, 4:52 pm | BusinessDesk
June 9 (BusinessDesk) - Two of New Zealand's biggest banks have imposed new restrictions on overseas property buyers. More >>
UPDATE: RBNZ's cost of waiting 'much lower'
Thursday, 9 June 2016, 3:21 pm | BusinessDesk
June 9 (BusinessDesk) - The cost of waiting until the next monetary policy statement in August was "much lower" when viewed against the risk of cutting rates too early as the Reserve Bank weighs up a strong kiwi dollar against the threat of house prices ... More >>
Ralec avoids revealing who is funding its NZX counter-claim
Thursday, 9 June 2016, 3:19 pm | BusinessDesk
June 9 (BusinessDesk) - The former owners of the Clear Grain Exchange avoided having to reveal who is funding their counterclaim against NZX in Wellington's High Court today. More >>
Weak global milk prices may rebound sooner than expected
Thursday, 9 June 2016, 3:17 pm | BusinessDesk
June 9 (BusinessDesk) - Weak global milk prices may head higher sooner than expected with supply coming back into balance with demand, as farmers in New Zealand and Europe pull back production and global demand continues to grow, New Zealand Primary Industries ... More >>
Merger means consumers will be offered a "quad" play
Thursday, 9 June 2016, 2:50 pm | BusinessDesk
June 9 (BusinessDesk) - The proposed merger between Sky Tv and Vodafone NZ has “significant potential” for expanding the current triple play offerings – fixed line voice, fixed-line broadband, and pay television services – into a quad-play by adding ... More >>
IRD owed $7 mln by Graeme Hart's UCI Holdings
Thursday, 9 June 2016, 12:52 pm | BusinessDesk
June 9 (BusinessDesk) - The Inland Revenue Department is among creditors owed money by Graeme Hart's UCI Holdings, the autoparts business that filed for bankruptcy in the US to restructure what became an unmanageable debt. More >>
