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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 607]
Proposal to ditch Auckland growth boundary welcomed
Wednesday, 18 May 2016, 3:20 pm | BusinessDesk
May 18 (BusinessDesk) - Labour Party housing spokesman Phil Twyford's proposal to abolish Auckland's urban growth boundary as a way to rein in ballooning land prices in the country's biggest city has attracted the support of business lobby group BusinessNZ. More >>
Proposal to ditch Auckland growth boundary welcomed
Wednesday, 18 May 2016, 3:19 pm | BusinessDesk
May 18 (BusinessDesk) - Labour Party housing spokesman Phil Twyford's proposal to abolish Auckland's urban growth boundary as a way to rein in ballooning land prices in the country's biggest city has attracted the support of business lobby group BusinessNZ. More >>
Trilogy asked to explain 50 cent jump in share price
Wednesday, 18 May 2016, 3:16 pm | BusinessDesk
May 18 (BusinessDesk) - Trilogy International, the skincare and home fragrance company, says it continues to comply with its market obligations after being asked to explain a 50 cent rise in its share price in four days of trading. More >>
Fonterra likely to lift farmer milk payments next season
Wednesday, 18 May 2016, 2:30 pm | BusinessDesk
May 18 (BusinessDesk) - Fonterra Cooperative Group is expected to lift its farmgate milk price payout to farmers next season, although it's likely to mark the third year of prices below the level required by most farmers to break even. More >>
Weldon denies keeping NZX board in dark of Clear
Wednesday, 18 May 2016, 2:26 pm | BusinessDesk
May 18 (BusinessDesk) - Former NZX chief Mark Weldon denied he kept material information from his board before the Clear Grain Exchange acquisition and said he stopped trusting the vendors when it became clear they had misrepresented the likelihood of winning ... More >>
Intueri directors halve their fees
Wednesday, 18 May 2016, 1:35 pm | BusinessDesk
May 18 (BusinessDesk) - Directors of Intueri Education Group have cut their base director fee in half as the listed training provider seeks to cut costs, has laid off 70 staff, put dividends on hold, and seen its share price tank after ongoing ... More >>
UPDATE: Infratil investors watch $1 billion war chest
Wednesday, 18 May 2016, 12:57 pm | BusinessDesk
May 18 (BusinessDesk) - Infratil investors are waiting to see what the listed investment firm will do with the $1 billion war chest it's built up since selling its Z Energy, Lumo and iSite holdings in the 2016 financial year. More >>
Investment industry needs to reach out to KiwiSaver members
Wednesday, 18 May 2016, 12:13 pm | BusinessDesk
May 18 (BusinessDesk) - The majority of New Zealand investors have confidence in the nation's financial markets but the least confident are KiwiSaver members who need to be encouraged to engage with providers and question whether they're in the ... More >>
NZ producer input, output prices drop in first quarter
Wednesday, 18 May 2016, 11:22 am | BusinessDesk
May 18 (BusinessDesk) - New Zealand producer input and output prices fell in the first quarter, mainly driven by lower fuel prices and weaker output prices for sheep, beef, grain and dairy farmers. More >>
Pushpay, chasing sales growth, widens annual loss
Wednesday, 18 May 2016, 10:42 am | BusinessDesk
May 18 (BusinessDesk) - Pushpay Holdings, whose mobile payment app allows churches to raise money from parishioners, posted a wider annual loss as it chased sales growth ahead of profit, reiterating its forecast to break even in 2017. More >>
Infratil annual earnings rise 2.5%
Wednesday, 18 May 2016, 10:00 am | BusinessDesk
May 18 (BusinessDesk) - Infratil lifted annual underlying earnings by 2.5 percent, meeting guidance, as its Metlifecare and RetireAustralia investments delivered bigger contributions. The listed investment firm said it is still looking for assets to ... More >>
Heartland posts 10% gain in 9-month profit
Wednesday, 18 May 2016, 9:48 am | BusinessDesk
May 18 (BusinessDesk) - Heartland Bank posted a 10 percent gain in nine-month profit while delaying a planned return to shareholders, saying market volatility had creating opportunities for acquisitions which may be a better use of its capital. More >>
Steel & Tube cuts full-year guidance on margin squeeze
Wednesday, 18 May 2016, 9:08 am | BusinessDesk
May 18 (BusinessDesk) - Steel & Tube Holdings, the NZX-listed steel products distributor under fire for sales of seismic steel mesh that wasn't independently tested, cut its full-year guidance and said underlying earnings may fall 10 percent ... More >>
NZ dollar holds steady
Wednesday, 18 May 2016, 8:53 am | BusinessDesk
May 18 (BusinessDesk) - The New Zealand dollar held steady as traders weighed a more positive local outlook against signs of improvement in the US economy. More >>
While you were sleeping: Data, Fed officials signal hike
Wednesday, 18 May 2016, 7:22 am | BusinessDesk
May 18 (BusinessDesk) - Equities fell as the latest reports on US consumer prices, housing starts and industrial production fuelled bets that the Federal Reserve might raise interest rates sooner than expected, after all, as the US economy is gathering ... More >>
Dairy product prices rise with whole milk powder
Wednesday, 18 May 2016, 6:23 am | BusinessDesk
May 18 (BusinessDesk) - Dairy product prices increased at the Global Dairy Trade auction, with gains in the price for whole milk powder exceeding expectations amid the lowest amount on offer in three years. More >>
Dairy faces real test of competitiveness over next 5 years
Tuesday, 17 May 2016, 9:20 pm | BusinessDesk
May 17 (BusinessDesk) - Finance Minister Bill English has warned the next five years will be the real test for how competitive the dairy industry is on the global market. More >>
MARKET CLOSE: NZX 50 hits record
Tuesday, 17 May 2016, 9:18 pm | BusinessDesk
May 17 (BusinessDesk) - New Zealand shares rose, pushing the S&P/NZX 50 Index to a new record on expectations Meridian Energy will be a key beneficiary of proposed changes to electricity transmission charges. Ryman Healthcare gained to an all-time ... More >>
Sky to raise prices despite falling subscriber numbers
Tuesday, 17 May 2016, 9:17 pm | BusinessDesk
May 17 (BusinessDesk) - Sky Network Television is to raise the price of its basic subscription package and its sports package despite a fall in the number of subscribers according to a report by Fairfax Media. More >>
Judge warns Ralec QC his patience is waning
Tuesday, 17 May 2016, 9:15 pm | BusinessDesk
May 17 (BusinessDesk) - The court battle between NZX and Ralec may stretch to an extra week and a half, taking the whole trial to more than ten weeks long, with the judge querying one lawyer's style of cross-examination. More >>
