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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 618]
Volatile day for kiwi dollar as central banks drive action
Thursday, 28 April 2016, 5:36 pm | BusinessDesk
The New Zealand dollar fell to its lowest level in more than a week against the yen after the Bank of Japan surprised the market by not expanding its monetary stimulus, rounding out a day of volatility tied to central bank actions. More >>
Labour claims new Home-Start scheme "vastly underperforming"
Thursday, 28 April 2016, 5:36 pm | BusinessDesk
April 28 (BusinessDesk) - Labour has warned one of the government's policies to help first-time buyers is "vastly underperforming" and having little impact in Auckland, New Zealand's largest city. More >>
Wellington Airport applies to extend runway
Thursday, 28 April 2016, 3:12 pm | BusinessDesk
April 28 (BusinessDesk) - Wellington International Airport has lodged an application to extend its runway with the Wellington City Council and the Greater Wellington Regional Council. More >>
Landmark EQC settlement
Thursday, 28 April 2016, 1:22 pm | BusinessDesk
April 28 (BusinessDesk) - The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of ... More >>
Fonterra says season-to-date milk collection down 3% in NZ
Thursday, 28 April 2016, 11:53 am | BusinessDesk
April 28 (BusinessDesk) - Fonterra Cooperative Group says milk collection is down in both New Zealand and Australia in the first 10 months of the season, reflecting destocking in its home market in the face of low milk prices and unfavourable weather ... More >>
US underwear giant Hanes seeks Pacific Brands
Thursday, 28 April 2016, 11:47 am | BusinessDesk
April 28 (BusinessDesk) - New York Stock Exchange-listed HanesBrands has offered to buy Pacific Brands through a scheme of arrangement that values the dual-listed clothing group at A$1.1 billion and has won the support of the target company's board. More >>
NZ dollar, swap rates jump as RBNZ keeps OCR at 2.25%
Thursday, 28 April 2016, 11:06 am | BusinessDesk
April 28 (BusinessDesk) - The New Zealand dollar jumped 1.3 percent against the greenback after the Reserve Bank kept interest rates unchanged and repeated that easing may be required to get inflation back to its target while also noting a pick-up in house ... More >>
KiwiRail invited to run new Wairoa-Napier log train
Thursday, 28 April 2016, 10:41 am | BusinessDesk
April 28 (BusinessDesk) - The Hawke's Bay Regional Council has amended its bid to reopen the railway between Napier and Wairoa by proposing that KiwiRail run the service as well as maintain the tracks under a proposal signed off in a closed-doors council ... More >>
Rival mail operator G3's profit margins above target
Thursday, 28 April 2016, 10:39 am | BusinessDesk
April 28 (BusinessDesk) - G3 Group, the NXT-listed mail operations and document manager, held its profit margins above target in the fourth quarter of the financial year, made two acquisitions and lifted volumes by 29 percent. More >>
Genesis extends life of coal-fuelled power station to 2022
Thursday, 28 April 2016, 9:41 am | BusinessDesk
April 28 (BusinessDesk) - Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted ... More >>
RBNZ keeps OCR at 2.25%, says inflation likely to pick up
Thursday, 28 April 2016, 9:31 am | BusinessDesk
April 28 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data ... More >>
Moa narrows full-year loss
Thursday, 28 April 2016, 9:17 am | BusinessDesk
April 28 (BusinessDesk) - Moa Group narrowed its full-year loss after the beer company increased sale volumes and cut operating costs. More >>
Supreme Court rejects smelter's bid to challenge decision
Thursday, 28 April 2016, 8:51 am | BusinessDesk
April 27 (BusinessDesk) - The Supreme Court has rejected an application by the operator of the Tiwai Point aluminium smelter to challenge a High Court decision requiring it to stump up some $20 million in back-pay after a complaint from the smelter workers' ... More >>
MARKET CLOSE: NZ shares down ahead of RBNZ rate call
Thursday, 28 April 2016, 8:48 am | BusinessDesk
April 27 (BusinessDesk) - New Zealand shares fell ahead of an interest rate announcement, with Fisher & Paykel Healthcare Corp, Summerset and Xero moving lower. More >>
While you were sleeping: Fed signals patience
Thursday, 28 April 2016, 7:57 am | BusinessDesk
April 28 (BusinessDesk) - US Treasuries and Wall Street moved higher after US Federal Reserve policy makers kept their target interest rate on hold and said they will raise rates only at a “gradual” pace if needed. More >>
NZ dollar falls before RBNZ review; Fed keeps rates on hold
Thursday, 28 April 2016, 7:44 am | BusinessDesk
NZ dollar falls before RBNZ statement as Fed keeps rates unchanged, drops reference to global risks More >>
Fletcher Distribution spreads NZ 'learnings' to Australia
Thursday, 28 April 2016, 7:01 am | BusinessDesk
April 28 (BusinessDesk) - Fletcher Building’s Distribution division is spending A$10 million to expand its Australian bathroom and plumbing supplies chain Tradelink by 60 branches, based on lessons learnt from the turnaround of its New Zealand-based ... More >>
Update: FMA says growing interest in property crowdfunding
Wednesday, 27 April 2016, 5:45 pm | BusinessDesk
The Financial Markets Authority says there has been a growing interest in property crowdfunding with promoters proposing various business models, including one launched today offering Kiwis a new way to enter the housing market by buying shares in a ... More >>
Ruataniwha irrigation scheme hits farmer uptake targets
Wednesday, 27 April 2016, 5:44 pm | BusinessDesk
April 27 (BusinessDesk) - Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter ... More >>
NZD gains vs. Aussie on weakest inflation in 7 years
Wednesday, 27 April 2016, 5:21 pm | BusinessDesk
The New Zealand dollar rose against its Australian counterpart after Australia posted its weakest inflation in seven years, sparking speculation of an interest hike across the Tasman just as the market is preparing for the local Reserve Bank's rate decision. More >>
