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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 594]
Sky TV shares surge, Spark falls on Vodafone merger
Thursday, 9 June 2016, 12:26 pm | BusinessDesk
June 9 (BusinessDesk) - Sky Network Television shares have surged while Spark New Zealand fell on speculation a Sky TV-Vodafone Group merger will provoke even more intense competition in broadcast content and the platforms it is delivered on. More >>
Nano magnetic material researcher gains $20,000 grant
Thursday, 9 June 2016, 11:39 am | BusinessDesk
June 9 (BusinessDesk) - A researcher working on a new nano-scale magnetic material that is 1,000 times thinner than human hair has been awarded a grant under a fund aimed at turning clever ideas into commercial reality. More >>
Eastland Group posts 7.8% gain in full-year profit
Thursday, 9 June 2016, 10:27 am | BusinessDesk
June 9 (BusinessDesk) - Eastland Group, the community trust-owned company that runs Gisborne's port, airport and electricity distribution businesses, says full-year profit rose 7.8 percent, allowing it to pay a bigger dividend and plan for increased ... More >>
Sky TV and Vodafone to merge
Thursday, 9 June 2016, 9:51 am | BusinessDesk
June 9 (BusinessDesk) - Sky Network Television plans to merge with the New Zealand unit of Vodafone Group to create the country's largest telecommunications and media group. More >>
Inflation accelerating; kiwi jumps
Thursday, 9 June 2016, 9:47 am | BusinessDesk
June 9 (BusinessDesk) - Reserve Bank governor Graeme Wheeler left the official cash rate unchanged, saying he expects an eventual pickup in inflation as the New Zealand dollar falls, oil and dairy prices rise, and capacity pressures increase. The kiwi ... More >>
NZ dollar holds above 70 US cents
Thursday, 9 June 2016, 8:46 am | BusinessDesk
June 9 (BusinessDesk) - The New Zealand dollar held above 70 US cents ahead of the Reserve Bank interest rate decision today, where the benchmark is expected to remain on hold. More >>
While you were sleeping: US dollar weakens
Thursday, 9 June 2016, 7:06 am | BusinessDesk
June 9 (BusinessDesk) - Wall Street moved higher, pushing the Standard & Poor’s Index closer to a record high, amid expectations low interest rates will help underpin economic growth. More >>
Z directors seek $100,000 bump to fee pool
Wednesday, 8 June 2016, 6:55 pm | BusinessDesk
June 8 (BusinessDesk) - Z Energy's seven-strong board wants to bump up the pool for directors' fees 11 percent to $1 million for what's a much larger company since taking over the assets of Chevron New Zealand. More >>
Auckland mortgage fraud arrest at International Airport
Wednesday, 8 June 2016, 6:53 pm | BusinessDesk
June 8 (BusinessDesk) - A man charged in connection with an alleged mortgage fraud in Auckland in the run-up to the global financial crisis has been arrested at the city's International airport. More >>
NZ shares fall as Spark threatened by Sky TV-Vodafone tie-up
Wednesday, 8 June 2016, 6:52 pm | BusinessDesk
June 8 (BusinessDesk) - New Zealand shares fell, led by Spark New Zealand on concern it will face a stronger rival if talks between Sky Network Television and Vodafone Group result in a formal alliance. SkyCity Casino Group rose after completing its ... More >>
NZ dollar gains above 70 US cents
Wednesday, 8 June 2016, 5:24 pm | BusinessDesk
June 8 (BusinessDesk) - The New Zealand dollar rose above 70 US cents for the first time in a month ahead of the Reserve Bank's monetary policy statement tomorrow, which is expected to keep rates unchanged though with the market broadly split on whether ... More >>
Scales chairman Mayson to step down next year
Wednesday, 8 June 2016, 5:08 pm | BusinessDesk
June 8 (BusinessDesk) - Jon Mayson, the chairman of Scales Corp, New Zealand's biggest apple exporter, will step down at next year's annual general meeting. More >>
NZ govt seeks to skew housing market to first home buyers
Wednesday, 8 June 2016, 4:42 pm | BusinessDesk
June 8 (BusinessDesk) - The government's housing policy aims to skew the market in favour of first home buyers, who are currently locked out of the market by rapid price gains in recent years, says Housing Minister Nick Smith. More >>
Michael Hill eyes tax benefit of up to A$22 mln in ASX shift
Wednesday, 8 June 2016, 4:32 pm | BusinessDesk
June 8 (BusinessDesk) - Michael Hill International stands to reap a tax benefit of up to A$22 million as part of a restructure to shift its primary listing to Australia's stock exchange. More >>
Rangatira full-year operating earnings rise 23%
Wednesday, 8 June 2016, 3:22 pm | BusinessDesk
June 8 (BusinessDesk) - Rangatira, the diversified investor whose shares trade on the Unlisted platform, posted a 23 percent gain in full-year operating earnings and raised its final dividend. More >>
Yili's Oceania Dairy narrows full-year loss
Wednesday, 8 June 2016, 1:46 pm | BusinessDesk
June 8 (BusinessDesk) - Oceania Dairy, the South Canterbury-based dairy company owned by China's Inner Mongolia Yili Industrial Group, narrowed its annual loss as sales quadrupled from its processing facility at Glenavy. More >>
Godfrey Hirst loses court appeal against Cavalier's merger
Wednesday, 8 June 2016, 1:44 pm | BusinessDesk
June 8 (BusinessDesk) - Godfrey Hirst's High Court appeal against a merger of New Zealand's largest wool scouring operations was dismissed, allowing the creation of a dominant scourer involving rival carpet maker Cavalier Corp. More >>
Sky TV, Vodafone in talks about a potential merger
Wednesday, 8 June 2016, 11:45 am | BusinessDesk
June 8 (BusinessDesk) - Sky Network Television said it's talking with Vodafone Group about potentially combining their New Zealand assets. More >>
NZ manufacturing sales volumes fall in 1Q
Wednesday, 8 June 2016, 11:43 am | BusinessDesk
NZ manufacturing sales volumes fall in 1Q as meat and dairy post biggest drop in 3 years More >>
Kathmandu sues biggest shareholder
Wednesday, 8 June 2016, 11:16 am | BusinessDesk
June 8 (BusinessDesk) - Kathmandu Holdings is suing its biggest shareholder, Briscoe Group, in an effort to recoup what it spent fending off the rival retailer's failed takeover attempt. More >>
