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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 610]
APN raises A$160M in institutional component of offer
Friday, 13 May 2016, 11:32 am | BusinessDesk
May 13 (BusinessDesk) - APN News & Media has raised $160 million from the institutional component of its entitlement offer, with an uptake of 95 percent and the shortfall hoovered up at a premium. More >>
Warehouse lifts 3Q sales 5.5%
Friday, 13 May 2016, 9:42 am | BusinessDesk
May 13 (BusinessDesk) - Warehouse Group, the country's largest listed retailer, lifted third-quarter sales 5.5 percent to $672.2 million and said it's on track to meet its forecast annual profit. More >>
NZ dollar jumps to 2-month high vs Aussie
Friday, 13 May 2016, 8:50 am | BusinessDesk
NZ dollar jumps to 2-month high vs Aussie as inflation outlook stokes RBA rate cut bets More >>
While you were sleeping: Apple bites into sentiment
Friday, 13 May 2016, 7:20 am | BusinessDesk
May 13 (BusinessDesk) - Wall Street was mixed as a slide in Apple shares amid concern that the company is preparing for slower sales of its iconic iPhone offset gains in Nike and Microsoft. More >>
NZ dollar gains to 3-month high vs Aussie dollar
Thursday, 12 May 2016, 5:23 pm | BusinessDesk
NZ dollar gains to 3-month high vs Aussie dollar as commodities fall, rate bets unwind More >>
Financial planner Jonathan West jailed for 3 years
Thursday, 12 May 2016, 4:42 pm | BusinessDesk
May 12 (BusinessDesk) - A financial planner who defrauded clients of $1.4 million in the Waikato and Bay of Plenty regions has been sentenced to three years in prison at the Tauranga District Court. More >>
Supreme Court dismisses appeal from Motor Trade Finance
Thursday, 12 May 2016, 4:26 pm | BusinessDesk
May 12 (BusinessDesk) - The Supreme Court has dismissed an appeal by Motor Trade Finance and Sportzone Motorcycles against rulings in a case brought by the Commerce Commission that fees they charged in loan contracts were unreasonable. More >>
Energy Mad outsources NZ consumer sales to focus on Oz
Thursday, 12 May 2016, 3:43 pm | BusinessDesk
May 12 (BusinessDesk) - Energy efficient lightbulb marketer Energy Mad is to outsource its New Zealand direct-to-consumer sales in a bid to focus on its growing Australian market. More >>
Oyster Bay owner Delegat says NZ harvest up 33% on 2015
Thursday, 12 May 2016, 3:09 pm | BusinessDesk
May 12 (BusinessDesk) - Delegat Group, the winemaker that retails under brands including Oyster Bay, says it has completed the 2016 harvest, with yields in New Zealand up 33 percent on a difficult 2015. More >>
OIO failed to show ministers all 'good character' info
Thursday, 12 May 2016, 2:49 pm | BusinessDesk
May 12 (BusinessDesk) - The Overseas Investment Office had information about the 'good character' of the 2014 Argentine buyers of a 1,317 hectare Taranaki farm but didn't give it to the ministers assessing the application, its parent body Land Information ... More >>
Fairfax Media's NZ assets worth only pennies to stock price
Thursday, 12 May 2016, 2:05 pm | BusinessDesk
May 12 (BusinessDesk) - Fairfax Media's New Zealand business is worth just 5 Australian cents to the company's stock price on a discounted cash flow basis and divesting the assets could help unlock the value of key assets such as the Domain Australian ... More >>
English takes election year tax cuts off the table
Thursday, 12 May 2016, 1:59 pm | BusinessDesk
May 12 (BusinessDesk) - Finance Minister Bill English has all but ruled out income tax cuts in the government's 2017 election year Budget. More >>
NZ food prices rise 0.3% in April as Kiwis pay more
Thursday, 12 May 2016, 1:46 pm | BusinessDesk
NZ food prices rise 0.3% in April as Kiwis pay more for fruit and veges, less for beef and chicken More >>
All Blacks to become tourism experience in Viaduct Harbour
Thursday, 12 May 2016, 11:45 am | BusinessDesk
May 12 (BusinessDesk) - NZ Rugby and brand experience company Discovery Partners are planning to open an All Blacks Experience tourism attraction in Auckland’s Viaduct Harbour by late 2017 in a 50:50 joint venture. More >>
NZ manufacturing activity rises in April
Thursday, 12 May 2016, 11:28 am | BusinessDesk
May 12 (BusinessDesk) - New Zealand manufacturing activity rose in April, after two months of slowing growth, led by new orders and production, while employment contracted for a third month. More >>
Xero has enough cash to reach breakeven
Thursday, 12 May 2016, 11:10 am | BusinessDesk
Xero has enough cash to reach breakeven, posts 67% jump in full-year revenue, wider loss of $84M More >>
Nuplex lifts guidance, citing improved returns
Thursday, 12 May 2016, 10:52 am | BusinessDesk
May 12 (BusinessDesk) - Nuplex Industries, whose independent directors are backing a $1.05 billion takeover offer from Allnex Belguim SA, has raised its 2016 earnings guidance, reflecting a stronger performance in the EMEA (Europe, the Middle East ... More >>
Z Energy says full-year earnings fall 1%
Thursday, 12 May 2016, 9:44 am | BusinessDesk
May 12 (BusinessDesk) - Z Energy, whose shares jumped to a record last week when it got approval to buy Chevron's Caltex and Challenge! petrol station chains, said full-year earnings fell 1 percent. More >>
Diverse innovators nominated for KiwiNet awards
Thursday, 12 May 2016, 9:00 am | BusinessDesk
May 11 (BusinessDesk) - An entrepreneur whose research into fungi could save the forestry industry $50 million a year, a PhD student who uses tiny particles of silver to treat dental disease and a partnership that reinforces plastic using wood fibre ... More >>
Dollar gains after RBNZ fails to add to housing market curbs
Thursday, 12 May 2016, 8:56 am | BusinessDesk
May 12 (BusinessDesk) - The New Zealand dollar gained after the Reserve Bank failed to add any new measures to curb housing market strength yesterday as some had expected, prompting a pull-back in bets for lower interest rates. More >>
