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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 595]
Regulatory curbs limit excessive profits from lines company
Wednesday, 8 June 2016, 9:42 am | BusinessDesk
June 8 (BusinessDesk) - The Commerce Commission is hailing the success of revenue limits in curbing excessive profits at electricity lines companies, although Auckland's Vector and Wellington Electricity were among five distribution firms showing a material ... More >>
Institutions pay small premium to mop up remaining shares
Wednesday, 8 June 2016, 9:41 am | BusinessDesk
June 8 (BusinessDesk) - Institutional investors have paid a small premium to mop up remaining SkyCity Entertainment Group shares that weren't taken up in the casino company's one-for-10, $263 million capital raising. More >>
NZ dollar hovers near 70 US cents as greenback weakens
Wednesday, 8 June 2016, 9:37 am | BusinessDesk
June 8 (BusinessDesk) - The New Zealand dollar gained, hovering under 70 US cents, as traders ditch the US dollar after weak labour market data pushed out the timing of future US interest rate hikes. More >>
While you were sleeping: Oil lifts sentiment
Wednesday, 8 June 2016, 7:13 am | BusinessDesk
June 8 (BusinessDesk) - Equities on both sides of the Atlantic moved higher with oil prices and bets that the US Federal Reserve appears in no rush to raise interest rates. More >>
NZ dollar drops vs. Australian dollar
Tuesday, 7 June 2016, 5:30 pm | BusinessDesk
June 7 (BusinessDesk) - The New Zealand dollar fell against the Australian dollar after the Reserve Bank of Australia kept its cash rate unchanged, disappointing traders who had bet on a more dovish central bank. More >>
Sort pay equity problems out through 'good faith' bargaining
Tuesday, 7 June 2016, 5:02 pm | BusinessDesk
June 7 (BusinessDesk) - The government should introduce a set of principles to guide firms on paying their staff fairly and install a process to allow for "good faith" bargaining, says the working group tasked with addressing a landmark ... More >>
Weldon ruled NZX with iron fist, Thomas says
Tuesday, 7 June 2016, 4:59 pm | BusinessDesk
June 7 (BusinessDesk) - Mark Weldon couldn't take criticism and ruled NZX with an iron fist while deliberately avoiding requests from Clear's former owners for financial support, Wellington's High Court has heard. More >>
McDonald's NZ full-year profit rises 19%
Tuesday, 7 June 2016, 3:34 pm | BusinessDesk
June 7 (BusinessDesk) - McDonald's Restaurants (New Zealand) posted a 19 percent gain in 2015 profit as the local unit of the world's biggest fast-food chain opened more outlets and lured consumers with custom burgers and drive-through coffee, while ... More >>
Synlait's 2016/17 milk price forecast ahead of Fonterra
Tuesday, 7 June 2016, 2:24 pm | BusinessDesk
June 7 (BusinessDesk) - Synlait Milk, the South Island-based milk processor, expects to pay its farmer suppliers 5.9 percent more for the upcoming season than larger rival Fonterra Cooperative Group. More >>
T&G Global sells crate hire business to Pact Group for $21M
Tuesday, 7 June 2016, 1:57 pm | BusinessDesk
June 7 (BusinessDesk) - T&G Global, the New Zealand fruit marketer controlled by Germany's BayWa, has sold its crate hire unit to packaging manufacturer Pact Group for $21 million as part of a deal where the two companies look to pool their resources ... More >>
NZ wholesale trades shrinks for second quarter
Tuesday, 7 June 2016, 11:18 am | BusinessDesk
June 7 (BusinessDesk) - New Zealand wholesale trade fell for a second quarter in the first three months of this year as a weak agricultural sector kept a lid on sales of basic materials. More >>
Coats buys Gotex, Fast React for as much as US$45 mln
Tuesday, 7 June 2016, 11:04 am | BusinessDesk
June 7 (BusinessDesk) - Coats Group, the UK-based thread-maker left after diversified investor Guinness Peat Group sold its other assets, is buying an industrial yarns business and a software company servicing the apparel industry for as much as much ... More >>
NZX cash trading keeps climbing in May
Tuesday, 7 June 2016, 9:37 am | BusinessDesk
June 7 (BusinessDesk) - Trading on New Zealand's NZX climbed for another month in May as the benchmark stock index reached new highs and a flood of new bonds drove activity in the debt market. More >>
TAG Oil picks up failed Kea's Puka prospect for $250,000
Tuesday, 7 June 2016, 9:26 am | BusinessDesk
June 7 (BusinessDesk) - Canadian-listed Taranaki oil and gas producer TAG Oil has picked up a 70 percent interest in the Puka onshore oil and gas exploration permit for $250,000 following the liquidation of the previous owner, Kea Petroleum. More >>
NZ dollar jumps as US rate hike bets pushed out
Tuesday, 7 June 2016, 8:57 am | BusinessDesk
June 7 (BusinessDesk) - The New Zealand dollar jumped to its highest in a month after weak US labour market data pushed out expectations for US interest rate hikes and damped demand for the greenback. More >>
While you were sleeping: Gradual rate hikes ahead
Tuesday, 7 June 2016, 7:11 am | BusinessDesk
June 7 (BusinessDesk) - Wall Street moved higher, while US Treasuries fell as Federal Reserve Chair Janet Yellen called for gradual interest rate increases but stopped short of offering a timeframe. More >>
NZ dollar heads for 2.1% weekly gain
Friday, 3 June 2016, 5:11 pm | BusinessDesk
June 3 (BusinessDesk) - The New Zealand dollar is heading for a 2.1 percent weekly gain against the greenback as traders dial back their expectations for another rate cut by the Reserve Bank. More >>
Under fire insurer Youi no longer getting WINZ wage subsidy
Friday, 3 June 2016, 4:14 pm | BusinessDesk
June 3 (BusinessDesk) - Youi NZ, the insurer under scrutiny over its sales techniques, is no longer getting Work and Income New Zealand subsidies aimed at getting people into work who are most at risk of getting stuck on a benefit. More >>
FMA investigates foreign exchange firm Morgan Cooper
Friday, 3 June 2016, 4:12 pm | BusinessDesk
June 3 (BusinessDesk) - The Financial Markets Authority is continuing its clamp down on foreign exchange firms, launching an investigation into Morgan Cooper Ltd and Rodney McCall over potentially breaching market legislation. More >>
NZ wool prices gain at auction
Friday, 3 June 2016, 4:03 pm | BusinessDesk
June 3 (BusinessDesk) - New Zealand wool prices gained at yesterday's South Island auction compared to the lower values achieved at last week's North Island auction, as buyers continued to discriminate between the fibre produced on each island. More >>
