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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 616]
2degrees ASX float in the offing
Tuesday, 3 May 2016, 2:33 pm | BusinessDesk
May 3 (BusinessDesk) - Australian media reports suggesting New Zealand's third-placed mobile operator, Two Degrees, will seek to raise between $100 million and $150 million in a float on the ASX in the next few months have the implicit support of the company. More >>
UPDATE: Tegel shares gain 9% in NZX debut
Tuesday, 3 May 2016, 2:00 pm | BusinessDesk
UPDATE: Tegel shares gain 9% in NZX debut as market cheers first IPO of 2016 More >>
Update: FMA defends formal warning over prosecution
Tuesday, 3 May 2016, 12:48 pm | BusinessDesk
May 3 (BusinessDesk) - The Financial Markets Authority has defended making a formal warning rather than taking legal action against sharebroking firm Craigs Investment Partners for anti-money laundering breaches – the second warning it has issued ... More >>
ANZ New Zealand first-half cash profit falls 11%
Tuesday, 3 May 2016, 11:52 am | BusinessDesk
ANZ New Zealand first-half cash profit falls 11% on software charge, while net interest income rises More >>
CBL expects growth in Europe, Mexico and Scandinavia
Tuesday, 3 May 2016, 11:42 am | BusinessDesk
May 3 (BusinessDesk) - CBL Corp expects its European unit will be “an outperformer” this year as new programmes the insurer started last year in France and Scandinavia ramp up. More >>
Tegel shares first trade at $1.69, up 9% from IPO price
Tuesday, 3 May 2016, 11:21 am | BusinessDesk
May 3 (BusinessDesk) - Tegel Group Holdings, the poultry group taken public by private equity firm Affinity Equity Partners, first traded at $1.69, delivering an immediate 9 percent gain to investors who bought the stock in the initial public offering. More >>
NZ new vehicle sales at 34 year high in April
Tuesday, 3 May 2016, 11:04 am | BusinessDesk
May 3 (BusinessDesk) - New Zealand new vehicle sales in April rose to the highest level for the month in 34 years, led by record demand for commercial models. More >>
FMA warns Craigs breaching anti-money laundering rules
Tuesday, 3 May 2016, 11:02 am | BusinessDesk
May 3 (BusinessDesk) - The Financial Markets Authority has opted for a formal warning rather than taking legal action against sharebroking firm Craigs Investment Partners for breaching a section of the Anti-Money Laundering and Countering Financing of ... More >>
Air NZ sees headwinds from competition
Tuesday, 3 May 2016, 9:49 am | BusinessDesk
May 3 (BusinessDesk) - Air New Zealand says its 2017 earnings won't match the $800 million it has forecast for 2016 as the airline faces increased competition and gets less benefit from foreign exchange hedging. More >>
Mediaworks boss Mark Weldon says he retains confidence
Tuesday, 3 May 2016, 9:00 am | BusinessDesk
May 2 (BusinessDesk) - Mediaworks chief executive Mark Weldon has insisted he still has the confidence of the company's board following a meeting in Auckland today. More >>
NZ dollar pops above 70 US cents as greenback weakens
Tuesday, 3 May 2016, 8:43 am | BusinessDesk
May 3 (BusinessDesk) - The New Zealand dollar rose above 70 US cents overnight as the US dollar weakened after a report showed US manufacturing activity slipped in April, raising concern about the pace of recovery in the world's largest economy. More >>
While you were sleeping: Wall Street advances
Tuesday, 3 May 2016, 7:28 am | BusinessDesk
May 3 (BusinessDesk) - Wall Street moved higher with financial shares as investors edged back to safer bets from more speculative ones on energy, metals and the materials sector. More >>
MARKET CLOSE: NZ shares fall as Westpac punished
Monday, 2 May 2016, 6:33 pm | BusinessDesk
MARKET CLOSE: NZ shares fall as Westpac punished on first-half results; ANZ, Meridian, Kathmandu decline More >>
Ralec accused of misrepresenting links with grain handlers
Monday, 2 May 2016, 6:22 pm | BusinessDesk
May 2 (BusinessDesk) - The former owners of the Australian Clear Grain Exchange made false representations about their relationships with Australian grain handlers, Wellington's High Court has heard. More >>
NZ dollar above 92 Australian cents on RBA rate cut bets
Monday, 2 May 2016, 5:20 pm | BusinessDesk
The New Zealand dollar rose above 92 Australian cents for the first time since early March on speculation softer inflation data across the Tasman and weaker demand in China may prompt the Reserve Bank of Australia to cut its benchmark interest rate ... More >>
Westpac NZ seeks more agriculture market share
Monday, 2 May 2016, 5:04 pm | BusinessDesk
May 2 (BusinessDesk) - Westpac New Zealand says it wants to lift its market share of agricultural lending over time to 20 percent from the current 12.6 percent. More >>
Oceania Natural shares up 7% despite missed targets
Monday, 2 May 2016, 4:09 pm | BusinessDesk
May 2 (BusinessDesk) - Shares in the newly listed food supplements maker Oceania Natural rose 7% in trading today despite failing to meet company targets on revenue, distributor sales, and gross margin. More >>
Fairfax Media and TVNZ in video content tie-up
Monday, 2 May 2016, 3:18 pm | BusinessDesk
May 2 (BusinessDesk) - Television New Zealand and Fairfax Media have signed a deal to show news video made by the state broadcaster on the Stuff website and mobile apps. More >>
NZX v Ralec trial gets underway
Monday, 2 May 2016, 1:40 pm | BusinessDesk
May 2 (BusinessDesk) - Stock market operator NZX and Australia's Ralec finally got the opportunity to face off in the Wellington High Court on day one of what's expected to be a nine-week trial that will call witnesses including embattled Mediaworks chief ... More >>
Westpac first half profit rises 3%
Monday, 2 May 2016, 11:38 am | BusinessDesk
May 2 (BusinessDesk) - Westpac Banking Corp first-half profit rose 3 percent to A$3.7 billion following a hefty increase in capital to meet regulatory demands which came at the cost of returns while its New Zealand division lifted cash earnings by 2 percent ... More >>
