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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 597]
MediaWorks chair McGeogh may follow CEO Weldon out the door
Thursday, 2 June 2016, 9:32 am | BusinessDesk
June 2 (BusinessDesk) - MediaWorks Investments chairman Rod McGeogh may follow former chief executive Mark Weldon and leave the free-to-air broadcaster, the Australian Financial Review reported in its Street Talk column. More >>
NZ Super Fund sells $292 million stake in Z Energy
Thursday, 2 June 2016, 8:54 am | BusinessDesk
June 2 (BusinessDesk) - The New Zealand Superannuation Fund sold down its stake in Z Energy, pocketing $292 million and leaving it with 1.5 percent of the petrol station chain. More >>
Mediaworks focuses on integrated offering
Thursday, 2 June 2016, 8:50 am | BusinessDesk
June 2 (BusinessDesk) - MediaWorks Investments, the free-to-air broadcaster, is pitching its ability to offer advertisers access to a stable of television and radio stations, and plans to build an integrated inventory management system to make it ... More >>
Dairy product prices rise 3.4% in second straight gain
Thursday, 2 June 2016, 8:48 am | BusinessDesk
June 2 (BusinessDesk) - Dairy product prices increased for the second Global Dairy Trade auction in a row, led by butter milk powder and skim milk powder, while whole milk powder declined. More >>
NZ dollar sinks vs. Japanese yen
Thursday, 2 June 2016, 8:46 am | BusinessDesk
June 2 (BusinessDesk) - The New Zealand dollar sank against the yen after Japanese Prime Minister Shinzo Abe said he would delay a planned increase in the sales tax rate, damping expectations for further monetary stimulus. More >>
NZ shares fall; Steel & Tube, Fletcher down
Thursday, 2 June 2016, 8:43 am | BusinessDesk
June 1 (BusinessDesk) - New Zealand shares fell as Steel & Tube Holdings said it was the supplier of imported Chinese steel used in a roading development, while Fletcher Building and Metro Performance Glass also declined and Vital Healthcare gained. More >>
Steel & Tube in talks with 'multiple agencies' over casings
Thursday, 2 June 2016, 8:41 am | BusinessDesk
June 1 (BusinessDesk) - Steel & Tube Holdings is in talks with "multiple agencies" in New Zealand and China over pile casings used in the Huntly bypass bridges that weren't up to scratch. More >>
NZD gains after failing to break through support levels
Wednesday, 1 June 2016, 5:36 pm | BusinessDesk
NZ dollar gains after failing to break through support levels, helped by terms of trade, Aussie GDP More >>
Labour's tests for govt's urban planning directive
Wednesday, 1 June 2016, 5:33 pm | BusinessDesk
The government's imminent National Policy Statement with new directions for urban planning must deal with infrastructure financing and avoid encouraging speculation in undeveloped land, says Labour's housing spokesman, Phil Twyford. More >>
Brilliance Steel allowed to sell steel mesh again
Wednesday, 1 June 2016, 4:44 pm | BusinessDesk
June 1 (BusinessDesk) - Brilliance Steel, one of three companies involved in a Commerce Commission investigation into testing of ductile steel products, has reached an interim agreement with the regulator to resume sales provided the products pass independent ... More >>
G3 Group's major shareholders likely to sell down
Wednesday, 1 June 2016, 4:44 pm | BusinessDesk
June 1 (BusinessDesk) - The biggest shareholders in G3 Group are likely to sell some of their holdings when restrictions lift in November putting the NXT-listed mail operations and document manager back in compliance with listing rules if it hasn't ... More >>
ExxonMobil NZ reports narrower loss in 2015
Wednesday, 1 June 2016, 4:41 pm | BusinessDesk
June 1 (BusinessDesk) - The New Zealand division of ExxonMobil, the world's largest publicly traded international oil and gas company, narrowed its 2015 loss even as revenue dropped 15 percent and the company spent more on refinery fees. More >>
Pumpkin Patch shares extend slump, down 9% in trading
Wednesday, 1 June 2016, 4:09 pm | BusinessDesk
June 1 (BusinessDesk) - Shares in the struggling childrenswear retailer Pumpkin Patch have dropped by 9 percent in trading, following similar sharp falls last week. More >>
Shaw downplays talk of Ohariu electorate stitch up
Wednesday, 1 June 2016, 1:12 pm | BusinessDesk
June 1 (BusinessDesk) - Green Party co-leader James Shaw says he has "never discussed the possibility with anyone" of standing for Parliament in the Wellington electorate of Ohariu under a deal to try to displace the National Party's support ... More >>
NZ home values rise at 12.4% annual pace in May, QV says
Wednesday, 1 June 2016, 12:20 pm | BusinessDesk
June 1 (BusinessDesk) - New Zealand residential property values continued to push higher in May, as increased demand and limited supply underpinned the market. More >>
Kirkcaldie board holds firm on Brierley bid
Wednesday, 1 June 2016, 12:17 pm | BusinessDesk
June 1 (BusinessDesk) - Kirkcaldie & Stains' directors reiterated their recommendation that shareholders reject veteran corporate raider Ron Brierley's takeover offer after raising their estimate for the cash that will be returned once lease commitments ... More >>
Two Degrees reports $33.1M full-year loss
Wednesday, 1 June 2016, 12:08 pm | BusinessDesk
June 1 (BusinessDesk) - Two Degrees Mobile, New Zealand's third-largest telecommunications company, reported a net loss of $33.1 million for the year to Dec. 31 on 43 percent revenue growth, cracking half a billion dollars of annual turnover for the first ... More >>
NZ terms of trade rise 4.4% in March quarter
Wednesday, 1 June 2016, 11:34 am | BusinessDesk
June 1 (BusinessDesk) - New Zealand's terms of trade unexpectedly rose in the first three months of the year as cheap petrol pushed down import prices while export prices were little changed. More >>
NZ Merino inks 5-year, $45M contract with Italy's Reda
Wednesday, 1 June 2016, 11:32 am | BusinessDesk
June 1 (BusinessDesk) - The New Zealand Merino Company, which markets the nation's wool to customers on behalf of suppliers, has signed a five-year, $45 million deal to supply fine wool to Italian luxury fabric manufacturer Successori Reda, its longest-ever ... More >>
Fronde returns to profit on pretax basis
Wednesday, 1 June 2016, 11:17 am | BusinessDesk
June 1 (BusinessDesk) - Fronde Systems Group, which provides IT services to businesses, returned to profit on a pretax basis after overhauling the business to cut costs in the face of falling revenue. More >>
