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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 611]
While you were sleeping: Macy’s, Disney disappoint
Thursday, 12 May 2016, 7:40 am | BusinessDesk
May 12 (BusinessDesk) - Wall Street declined amid disappointing earnings from Macy’s and Walt Disney, which fuelled concern US consumers are keeping their purse strings tight. More >>
MARKET CLOSE: NZ shares rise to record; Orion Health gains
Wednesday, 11 May 2016, 6:17 pm | BusinessDesk
May 11 (BusinessDesk) - New Zealand shares reached a fresh record, as Orion Health Group advanced while Sky Network Television's losing streak continued and SkyCity Entertainment Group was put in a trading halt. More >>
NZ dollar gains on lack of new housing measures
Wednesday, 11 May 2016, 5:31 pm | BusinessDesk
The New Zealand dollar rose after the Reserve Bank's financial stability report failed to deliver new measures to cool the housing market, quashing speculation among currency traders that such a move would give the bank a clear run to cut interest rates next ... More >>
APN, NZME likely to be more attractive takeover targets
Wednesday, 11 May 2016, 5:16 pm | BusinessDesk
May 11 (BusinessDesk) - APN News & Media and its NZME unit in New Zealand would become more attractive takeover targets after demerging and the split wouldn't result in markedly weaker balance sheets, according to an independent evaluation by Deloitte. More >>
Emerald Gisborne Property Trust sells final hotel
Wednesday, 11 May 2016, 5:14 pm | BusinessDesk
May 11 (BusinessDesk) - Emerald Gisborne Property Trust, the hotel investor set up as part of the recapitalisation of the financier and insurer now known as Turners, says a deal to sell the Emerald Hotel in Gisborne has gone unconditional. More >>
Hunt for yield driving property investors to regions
Wednesday, 11 May 2016, 5:10 pm | BusinessDesk
May 11 (BusinessDesk) - Higher rental yields could be enticing property investors out of Auckland, Reserve Bank Governor Graeme Wheeler said, although he would not be drawn over whether the central bank will act to slow the surge in house prices ... More >>
NZ's privacy regime needs teeth
Wednesday, 11 May 2016, 3:05 pm | BusinessDesk
May 11 (BusinessDesk) - New Zealand's privacy regime is weaker than many of its international counterparts and needs teeth, the United Nations Rapporteur on the Right to Privacy, Professor Joe Cannataci, told a forum in Wellington hosted by the Office of the Privacy ... More >>
NZ tourism growth exceeds industry targets
Wednesday, 11 May 2016, 1:52 pm | BusinessDesk
May 11 (BusinessDesk) - The Tourism Industry Association has today reported on progress on its Tourism 2025 growth framework launched two years ago with tourism spending estimated to have reached $32.5 billion in the year ended March 31. More >>
Reserve Bank looks to new restrictions
Wednesday, 11 May 2016, 1:28 pm | BusinessDesk
May 11 (BusinessDesk) - New lending restrictions to prevent people borrowing too much relative to their income are on the cards, the Reserve Bank of New Zealand's two most senior officials say. More >>
NZ house prices reach record in four regions
Wednesday, 11 May 2016, 12:47 pm | BusinessDesk
May 11 (BusinessDesk) - A "chronic lack" of housing supply is driving up prices across New Zealand, with record median prices reached in four of the 10 regions and sales volumes rising across the board in April, according to the Real Estate Institute. More >>
NZ guest nights rise in March on Easter tourism
Wednesday, 11 May 2016, 11:47 am | BusinessDesk
May 11 (BusinessDesk) - New Zealand guest nights rose in March for the 24th month in a row, reaching the highest level for the month in the 20-year history of the survey as all regions saw tourist number increases. More >>
Hellaby reduces management team
Wednesday, 11 May 2016, 10:32 am | BusinessDesk
May 11 (BusinessDesk) - Hellaby Holdings is restructuring its business, with the chief operating officer and chief investment officer both resigning, and says it will update the market on guidance in three weeks after a weaker-than-expected second ... More >>
APN, Fairfax in talks to merge NZ media businesses
Wednesday, 11 May 2016, 10:19 am | BusinessDesk
May 11 (BusinessDesk) - APN News & Media and Fairfax Media are in talks about a potential merger of their New Zealand media assets this year, and APN has separately outlined plans to demerge its NZME unit. More >>
SkyCity offers to sell $263M of shares to fund expansion
Wednesday, 11 May 2016, 10:16 am | BusinessDesk
May 11 (BusinessDesk) - SkyCity Entertainment Group, New Zealand's only listed casino company, plans to raise $263 million by selling new shares to existing investors, enabling it to keep its debt in check and maintain its credit rating while funding ... More >>
RBNZ assessing whether further home loan restrictions needed
Wednesday, 11 May 2016, 9:30 am | BusinessDesk
May 11 (BusinessDesk) - The Reserve Bank is considering whether to impose further home-loan restrictions amid signs that price pressures are re-emerging, especially in Auckland where prices "remain stretched". More >>
NZ dollar holds steady
Wednesday, 11 May 2016, 8:46 am | BusinessDesk
May 11 (BusinessDesk) - The New Zealand dollar was little changed as traders await the release of the Reserve Bank's Financial Stability Report, which may detail further measures to curb the nation's bubbling housing market. More >>
MARKET CLOSE: NZX 50 rises to record high
Wednesday, 11 May 2016, 8:43 am | BusinessDesk
May 10 (BusinessDesk) - New Zealand shares rose, pushing the S&P/NZX 50 Index to a record high as Air New Zealand and A2 Milk gained while Sky Network Television extended its slide. More >>
NZ dollar falls to six-week low
Wednesday, 11 May 2016, 8:42 am | BusinessDesk
NZ dollar falls to six-week low before stability report as commodities fall, US dollar selloff abates More >>
While you were sleeping: Amazon, oil rally
Wednesday, 11 May 2016, 7:49 am | BusinessDesk
May 11 (BusinessDesk) - Equities on both sides of the Atlantic advanced with the price of commodities, while Amazon shares offered a boost as well. More >>
NZ Super Fund trims portfolio
Tuesday, 10 May 2016, 5:14 pm | BusinessDesk
May 10 (BusinessDesk) - The New Zealand Superannuation Fund is selling investments in five offshore private equity real estate funds, adding to three such funds it sold in April. More >>
