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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 613]
NZ dollar declines
Monday, 9 May 2016, 10:06 am | BusinessDesk
May 9 (BusinessDesk) - The New Zealand dollar declined after a weaker outlook for Australian inflation added to speculation that both in both Australasian countries are set to cut interest rates again, denting demand for their currencies. More >>
World Week Ahead: Eyes on US retail sales, retailers
Monday, 9 May 2016, 7:40 am | BusinessDesk
May 9 (BusinessDesk) - A report on US retail sales will offer a key focus for investors after last week’s weaker-than-expected jobs data practically removed any remaining bets that the Federal Reserve will raise interest rates at its June policy meeting. More >>
Forecasts for grain exchange 'no unrealistic': Paviour-Smith
Friday, 6 May 2016, 6:33 pm | BusinessDesk
May 6 (BusinessDesk) - NZX director and Forsyth Barr managing director Neil Paviour-Smith rejected Ralec's claims in the High Court that earnout targets which would have netted the former owners of the Clear Grain Exchange A$7 million were unrealistic. More >>
NZD gains to two-month high vs Aussie
Friday, 6 May 2016, 5:31 pm | BusinessDesk
May 6 (BusinessDesk) - The New Zealand dollar rose to a two-month high against the Australian dollar after the Reserve Bank of Australia lowered its forecast inflation track, adding to a case for a further interest rate cut across the Tasman. More >>
Kiwifruit NZ ordered to reconsider marketing proposals
Friday, 6 May 2016, 4:34 pm | BusinessDesk
May 6 (BusinessDesk) - The High Court told kiwifruit industry regulator Kiwifruit New Zealand to reconsider collaborative marketing proposals from Splice Fruit and Seeka Kiwifruit to sell fruit offshore that its board had previously rejected. More >>
Air NZ sale of Virgin stake could be delayed by election
Friday, 6 May 2016, 3:28 pm | BusinessDesk
May 6 (BusinessDesk) - Air New Zealand’s proposed divestment of its 25.99 percent stake in Virgin Australia could hit turbulence if an election is called in Australia for July 2 as expected. More >>
NZ wool prices advance at auction as supplies dwindle
Friday, 6 May 2016, 2:45 pm | BusinessDesk
May 6 (BusinessDesk) - New Zealand wool prices advanced at auction this week as a seasonal drop in supply bolstered the market. More >>
Paviour-Smith rejects claim
Friday, 6 May 2016, 2:20 pm | BusinessDesk
May 6 (BusinessDesk) - NZX director and Forsyth Barr managing director Neil Paviour-Smith has rejected Ralec's claims in the High Court that the stock exchange operator committed $100 million to its 2009 investment in the Clear Grain Exchange. More >>
Fonterra forecasts 63% surge in 2017 organic milk payout
Friday, 6 May 2016, 12:32 pm | BusinessDesk
May 6 (BusinessDesk) - Fonterra Cooperative Group forecast a 63 percent jump in its payout for organic milk for the 2016/17 season, saying it needed to secure supply in a competitive market where demand is rising worldwide. More >>
UPDATE: SLI revenue growth to stall on customer losses
Friday, 6 May 2016, 12:02 pm | BusinessDesk
May 6 (BusinessDesk) - SLI Systems shares fell to a two-month low after he online retail search engine developer said annual recurring revenue growth is likely to stall in its full-year after the loss of three customers. It doesn't expect to need ... More >>
Reserve Bank bans MediaWorks from media conferences
Friday, 6 May 2016, 11:44 am | BusinessDesk
May 6 (BusinessDesk) - The Reserve Bank has banned MediaWorks from its media conferences until further notice as punishment for its journalists leaking sensitive market information from the Official Cash Rate cut decision in March. More >>
Zespri ordered to consider collaborative marketing proposals
Friday, 6 May 2016, 11:10 am | BusinessDesk
May 6 (BusinessDesk) - The High Court has told kiwifruit marketer Zespri to reconsider collaborative marketing proposals from Splice Fruit and Seeka Kiwifruit to sell fruit offshore that its board had previously rejected. More >>
Airways clarifies fee plans
Friday, 6 May 2016, 11:08 am | BusinessDesk
May 6 (BusinessDesk) - Airways Corp, the government-owned entity in charge of traffic control, is seeking an increase in its capital expenditure of up to 30 percent as part of a negotiation that is expected to increase fees to airlines by 1.2 percent ... More >>
UPDATE: Sky TV shares sink to 3-week low
Friday, 6 May 2016, 11:03 am | BusinessDesk
May 6 (BusinessDesk) - Sky Network Television shares sank 13 percent, making it the biggest decliner on the NZX benchmark index today, after the pay-TV operator said subscriber numbers are expected to fall further this financial year, causing ... More >>
Sky TV forecasts drop in subscribers to hurt 2017 earnings
Friday, 6 May 2016, 9:35 am | BusinessDesk
May 6 (BusinessDesk) - Sky Network Television, the pay-TV operator facing increased competition from online rivals, said subscriber numbers are expected to decline further this financial year, causing earnings next year to miss analysts' expectations. More >>
SLI Systems revenues to stall on customer losses
Friday, 6 May 2016, 9:21 am | BusinessDesk
May 6 (BusinessDesk) - SLI Systems said annual recurring revenue growth is likely to stall in its full-year after the loss of three customers but the online retail search engine developer doesn't expect to need to raise more capital to reach breakeven. More >>
NZ dollar falls as greenback broadly strengthens
Friday, 6 May 2016, 8:49 am | BusinessDesk
May 6 (BusinessDesk) - The New Zealand dollar fell as the greenback strengthened ahead of a key US jobs report, and after upbeat comments from Federal Reserve officials. More >>
NZ dollar edges up before RBA policy statement, US payrolls
Friday, 6 May 2016, 8:44 am | BusinessDesk
May 5 (BusinessDesk) - The New Zealand dollar rose ahead of the Reserve Bank of Australia's monetary policy statement tomorrow, which will help explain this week's cash rate cut, and US non-farm payrolls for April, which may provide clues to the timing of ... More >>
MARKET CLOSE: NZ shares gain; Auckland Airport, Z Energy up
Friday, 6 May 2016, 8:42 am | BusinessDesk
May 5 (BusinessDesk) - New Zealand shares rose, outperforming equity markets across Asia, as a brokerage gave an upbeat assessment of retirement village operator Metlifecare. Auckland International Airport and Z Energy gained while Kathmandu Holdings fell. More >>
While you were sleeping: Wall St eyes US jobs
Friday, 6 May 2016, 7:30 am | BusinessDesk
May 6 (BusinessDesk) - Wall Street was mixed as a report showing that more Americans than expected filed for jobless benefits ahead of the government’s monthly jobs data offset gains in the price of oil. More >>
