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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 62]
Fonterra says more assets under review as it cuts guidance
Thursday, 23 May 2019, 12:16 pm | BusinessDesk
May 23 (BusinessDesk) - Fonterra Cooperative Group narrowed the range for its forecast payout to farmers this season, cut its earnings guidance and says it may sell more assets. More >>
Active, planning role urged for new infrastructure body
Thursday, 23 May 2019, 11:22 am | BusinessDesk
May 23 (BusinessDesk) - A proposed national infrastructure commission needs to address gaps in regional planning and could play a more active role in setting standards for smaller councils to work to, lawmakers heard yesterday. More >>
NZ dollar hovers below 65 US cents
Thursday, 23 May 2019, 11:09 am | BusinessDesk
May 23 (BusinessDesk) - The New Zealand dollar remained below 65 US cents as simmering China-US trade tensions continue to weigh on sentiment. More >>
MARKET CLOSE: NZ shares edge up; Infratil gains
Wednesday, 22 May 2019, 8:47 pm | BusinessDesk
May 22 (BusinessDesk) - New Zealand shares edged higher, with Infratil one of the most active stocks when it resumed trading after being halted for a $100 million placement last week. More >>
NZ dollar trades near 2019 low on Aussie rate outlook
Wednesday, 22 May 2019, 8:46 pm | BusinessDesk
May 22 (BusinessDesk) - The New Zealand dollar was little changed as investors bet on an Australian rate cut in June, continue to fret about the United States-China trade war and as elections for the European Parliament get underway in 28 countries. More >>
MediaWorks breakeven stymied by radio
Wednesday, 22 May 2019, 5:31 pm | BusinessDesk
May 22 (BusinessDesk) - It’s tough being a media company. And nowhere is this more apparent than for MediaWorks Investments, home of the Three TV channel, the Edge and More radio stations, among others. More >>
Loan-to-value restrictions effective but have some drawbacks
Wednesday, 22 May 2019, 4:43 pm | BusinessDesk
Loan-to-value restrictions effective but have some drawbacks - RBNZ More >>
Yili deal a timely cash injection for Westland farmers - ANZ
Wednesday, 22 May 2019, 4:00 pm | BusinessDesk
May 22 (BusinessDesk) - Westland Milk Products farmers will bank - on average - $572,000 from the sale of their shares to Inner Mongolia Yili Industrial Group if the deal goes ahead, says ANZ Bank New Zealand. More >>
Medicinal cannabis "not commercially viable yet" says AFT
Wednesday, 22 May 2019, 3:57 pm | BusinessDesk
May 22 (BusinessDesk) - AFT Pharmaceuticals’ founder and managing director Hartley Atkinson says he’s having ongoing discussions about getting involved in providing medicinal cannabis products but the current tough regulatory environment doesn’t ... More >>
UPDATE: AFT narrows net loss, turns cash flow positive
Wednesday, 22 May 2019, 2:30 pm | BusinessDesk
May 22 (BusinessDesk) - AFT Pharmaceuticals posted a narrower annual loss as interest and other finance costs swamped operating earnings and says it’s negotiating the refinancing of its debt at more favourable interest rates. More >>
NZ first-quarter retail sales grow 0.7%
Wednesday, 22 May 2019, 2:25 pm | BusinessDesk
May 22 (BusinessDesk) - New Zealand's retail sales were slightly higher than expected in the first quarter amid increased spending at department stores and on hardware and building supplies. More >>
SkyCity poised to enter online gaming space
Wednesday, 22 May 2019, 12:53 pm | BusinessDesk
May 22 (BusinessDesk) - SkyCity Entertainment Group is poised to tap into the lucrative online gaming space with plans to launch a platform mid-year that will be operated from Malta. More >>
AFT narrows net loss, turns cash flow positive
Wednesday, 22 May 2019, 12:41 pm | BusinessDesk
May 22 (BusinessDesk) - AFT Pharmaceuticals posted a narrower annual loss as interest and other finance costs swamped operating earnings and says it’s negotiating the refinancing of its debt at more favourable interest rates. More >>
NZX sells FundSource to Australia's Zenith Partners
Wednesday, 22 May 2019, 12:09 pm | BusinessDesk
May 22 (BusinessDesk) - NZX has wrapped up the sale of its FundSource research house to Australia's Zenith Investment Partners for an undisclosed sum. More >>
NZ dollar weaker on dovish RBA, softer dairy prices
Wednesday, 22 May 2019, 10:56 am | BusinessDesk
May 22 (BusinessDesk) - The New Zealand dollar touched its lowest level since early November as signs of a rate cut across the Tasman increased the odds that local rates will go lower and as dairy prices eased. More >>
Dairy product prices fall, halting longest gaining streak
Wednesday, 22 May 2019, 10:32 am | BusinessDesk
May 22 (BusinessDesk) - Dairy product prices fell at the Global Dairy Trade auction, ending a record string of 11 consecutive gains, as whole milk powder declined for the fourth straight time. More >>
Westpac sees rekindled house price inflation of 7%
Wednesday, 22 May 2019, 10:28 am | BusinessDesk
May 22 (BusinessDesk) - Westpac is expecting house price inflation to take off again thanks to the government’s decision to scrap plans for a capital gains tax and falling mortgage rates. More >>
MARKET CLOSE: NZ shares fall
Tuesday, 21 May 2019, 8:47 pm | BusinessDesk
May 21 (BusinessDesk) - New Zealand shares fell, led lower by Chorus, after investors were spooked by potentially stricter regulation of its ultrafast broadband network than they'd anticipated. More >>
NZ dollar falls after RBA governor flags potential rate cut
Tuesday, 21 May 2019, 8:46 pm | BusinessDesk
May 21 (BusinessDesk) - The New Zealand dollar fell against the greenback, dragged down by its trans-Tasman counterpart after Reserve Bank of Australia governor Philip Lowe talked about considering a rate cut in two weeks’ time. More >>
ASB reviews ownership of Aegis
Tuesday, 21 May 2019, 7:01 pm | BusinessDesk
May 21 (BusinessDesk) - Commonwealth Bank of Australia-owned ASB is considering selling its Aegis investment administration business. More >>
