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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 603]
FMA clears Silver Fern over debt disclosures
Wednesday, 25 May 2016, 11:21 am | BusinessDesk
May 25 (BusinessDesk) - The Financial Markets Authority says it doesn't believe an information pack for Silver Fern Farm shareholders on the merits of a takeover by Shanghai Maling Aquarius was misleading, even though debt turned out to be lower ... More >>
Fellet unmoved by media company 'for-sale' signs
Wednesday, 25 May 2016, 10:30 am | BusinessDesk
May 25 (BusinessDesk) - Sky Network Television chief John Fellet says he's been offered just about every media asset in Australasia but hasn't been tempted even though analysts estimate the pay-TV company could have $400 million of surplus funds as its capital ... More >>
AFT posts loss that meets estimates in maiden result
Wednesday, 25 May 2016, 10:27 am | BusinessDesk
May 25 (BusinessDesk) - AFT Pharmaceuticals, the Auckland-based drug developer, posted a $8.9 million operating loss for the year to March 31, its first result since listing on the NZX and ASX last December, and in line with analyst expectations. More >>
Serko targets profitability in 2018
Wednesday, 25 May 2016, 9:45 am | BusinessDesk
May 25 (BusinessDesk) - Serko, the online travel booking company, expects to become profitable in 2018 after missing its downgraded guidance for operating revenue in its latest year. More >>
Kiwifruit industry in "sweet spot" with record grower return
Wednesday, 25 May 2016, 9:17 am | BusinessDesk
May 24 (BusinessDesk) - The 2015/2016 season for kiwifruit marketer Zespri has been a record-breaker on several fronts – biggest total grower return, highest Green fruit return per hectare, and record sales volumes for both Green and SunGold kiwifruit. More >>
FMA boss Everett gives regulator a pass mark
Wednesday, 25 May 2016, 9:12 am | BusinessDesk
May 25 (BusinessDesk) - Financial Markets Authority chief executive Rob Everett is giving the market watchdog a pass mark as it nears the end of its establishment phase and starts taking a closer look at ensuring firms' conduct is up to scratch. More >>
NZ dollar gains as investors weigh up Fonterra's forecast
Wednesday, 25 May 2016, 9:09 am | BusinessDesk
May 25 (BusinessDesk) - The New Zealand dollar gained as investors weighed up the outlook for Fonterra Cooperative Group's opening milk price forecast for 2017 in what's expected to be an improvement on the current season. More >>
Powerco posts 1.6% gain in full-year earnings
Wednesday, 25 May 2016, 8:47 am | BusinessDesk
May 24 (BusinessDesk) - Powerco, which supplies electricity and gas to 436,000 homes in the central and southern North Island, posted a 1.6 percent gain in pretax earnings, which it says was driven by strong customer growth and higher electricity volumes. More >>
'Battle of wills' after acquisition
Wednesday, 25 May 2016, 8:46 am | BusinessDesk
May 24 (BusinessDesk) - There was a "battle of wills" over spending on the Clear Grain Exchange between former NZX chief Mark Weldon and the trading platform's former owners after NZX acquired the business in 2009, Wellington's High Court has heard. More >>
MARKET CLOSE: NZ shares drop, Tower and Air NZ fall
Wednesday, 25 May 2016, 8:42 am | BusinessDesk
May 24 (BusinessDesk) - New Zealand shares fell as Tower tumbled after reporting a wider full-year loss and Air New Zealand dropped to an 18-month low while Kathmandu Holdings recovered on optimism a cold snap across the country will boost sales of ... More >>
While you were sleeping: US housing shows strength
Wednesday, 25 May 2016, 6:15 am | BusinessDesk
May 25 (BusinessDesk) - Equities on both sides of the Atlantic moved higher, as did the US dollar, as investors warmed to the idea that the US Federal Reserve might raise interest rates as early as June, while Toll Brothers’ earnings and new home ... More >>
NZ dollar drops as June rate-cut bets fade
Tuesday, 24 May 2016, 5:39 pm | BusinessDesk
NZ dollar drops as June rate-cut bets fade, RBA to stick with inflation target More >>
Green Cross acquisitions drive 18% lift in annual profit
Tuesday, 24 May 2016, 4:35 pm | BusinessDesk
May 24 (BusinessDesk) - Green Cross Health lifted annual profit 18 percent as the primary healthcare group added to its pharmacy chain and expanded into community nursing and medical services. More >>
New report forecasts a shortfall of 26 hotels in next decade
Tuesday, 24 May 2016, 4:09 pm | BusinessDesk
New report forecasts a shortfall of 26 hotels in next decade, above what's already being built More >>
Murray Horn resigns second board, Spark, on health grounds
Tuesday, 24 May 2016, 3:59 pm | BusinessDesk
May 24 (BusinessDesk) - Murray Horn has resigned from the board of New Zealand's biggest telecommunications company, Spark New Zealand, due to illness. More >>
Pyne Gould finally lodges 2015 annual report
Tuesday, 24 May 2016, 2:07 pm | BusinessDesk
May 24 (BusinessDesk) - Pyne Gould Corp, whose NZX-listed shares have been suspended from trading since October, has lodged its 2015 annual report after a lengthy delay which has been blamed on switching auditors. More >>
UPDATE: Tower shares sink to two-month low
Tuesday, 24 May 2016, 12:55 pm | BusinessDesk
May 24 (BusinessDesk) - Tower shares dropped to a two-month low after the general insurer posted a wider first-half loss and flat gross written premium income, raising questions about its ability to compete with larger rivals. More >>
PFI seeks boost for directors' fee pool
Tuesday, 24 May 2016, 10:45 am | BusinessDesk
May 24 (BusinessDesk) - Property For Industry, the listed industrial property investor, wants to boost its pool for directors' fees by almost a third to give members a pay rise and allow for professional director Susan Peterson to join the company. More >>
Tower first-half loss widens
Tuesday, 24 May 2016, 9:37 am | BusinessDesk
Tower first-half loss widens as insurer takes $19.6M charge for IT system with 'limitations' More >>
Vista Group's Vista Entertainment
Tuesday, 24 May 2016, 9:05 am | BusinessDesk
May 24 (BusinessDesk) - Vista Group International, named PwC Hi-Tech company of the year at New Zealand's annual Hi-Tech Awards, has inked its first deal to provide its cinema software to theatres in Africa. More >>
