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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 622]
Steel & Tube appeals rental debt ruling
Wednesday, 20 April 2016, 3:16 pm | BusinessDesk
April 20 (BusinessDesk) - Steel & Tube Holdings wants to strike out a ruling that left it responsible for outstanding rent payments owed by a now-defunct subsidiary company that it had put into liquidation. More >>
NZX's regulatory programme includes more risk assessment
Wednesday, 20 April 2016, 3:14 pm | BusinessDesk
April 20 (BusinessDesk) - NZX, the stock market operator, will increase risk assessment of market participants and clarify what practices by brokers and fund managers it regards as market misconduct, according to its 2016 regulatory programme. More >>
Manuka Doctor branding not a health claim
Wednesday, 20 April 2016, 1:44 pm | BusinessDesk
April 20 (BusinessDesk) - Honey New Zealand International's Manuka Doctor branding isn't claiming a health claim and doesn't breach food standards, the Court of Appeal has ruled. More >>
Mobil's challenge to Auckland clean-up reaches Supreme Court
Wednesday, 20 April 2016, 1:24 pm | BusinessDesk
Mobil Oil New Zealand has launched a Supreme Court challenge to a $10 million bill for cleaning up the heavily contaminated part of Auckland's downtown Wynyard Quarter where oil has been stored for decades. More >>
Investors ponder whether Tegel can 'do a Scales'
Wednesday, 20 April 2016, 11:59 am | BusinessDesk
April 20 (BusinessDesk) - Tegel Group Holdings' share sale has at least some passing similarities to that of Scales Corp, which went public in 2014, selling shares at the bottom of its range in an IPO that left its major shareholder with a significant ... More >>
Tegel priced at $1.55 a share, near bottom of the range
Wednesday, 20 April 2016, 9:17 am | BusinessDesk
April 20 (BusinessDesk) - Tegel Group Holdings, the poultry group controlled by private equity firm Affinity Equity Partners, will sell shares at $1.55 apiece in the year's first initial public offering, near the bottom of its indicative price range. More >>
Dairy product prices advance on whole milk powder, outlook
Wednesday, 20 April 2016, 9:13 am | BusinessDesk
April 20 (BusinessDesk) - Dairy product prices increased for a second straight auction, posting the third gain in the eight Global Dairy Trade auctions held so far in 2016, as the outlook improves. More >>
While you were sleeping: IBM, Netflix drop
Wednesday, 20 April 2016, 7:33 am | BusinessDesk
April 20 (BusinessDesk) - Wall Street grappled with disappointing earnings from IBM and Netflix, while it gained support from rising oil prices. The US dollar slid to a 10-month low. More >>
MARKET CLOSE: NZX 50 rises to record; Z Energy, Sky TV gain
Tuesday, 19 April 2016, 5:57 pm | BusinessDesk
April 19 (BusinessDesk) - New Zealand shares rose to a record amid speculation Z Energy's application to buy the Caltex chain will be approved. Sky Network Television and Fletcher Building also rose while SkyCity Entertainment Group dropped. More >>
NZ dollar above 70 US cents for first time in 10 months
Tuesday, 19 April 2016, 5:31 pm | BusinessDesk
April 19 (BusinessDesk) - The New Zealand dollar rose above 70 US cents for the first time since June last year amid speculation the Federal Reserve won't rush to raise interest rates and the Reserve Bank won't hurry to cut its benchmark rate. More >>
Regulator says Baby City sold cots with 'structural defects'
Tuesday, 19 April 2016, 5:03 pm | BusinessDesk
April 19 (BusinessDesk) - Baby products retailer Baby City is to face nine charges over two types of cots sold between October 2014 and October 2015. More >>
A2 Milk's push into China bolstered
Tuesday, 19 April 2016, 3:59 pm | BusinessDesk
A2 Milk's push into China bolstered by results of human clinical trial in that country More >>
Transport Ministry looks to streamline truck licensing
Tuesday, 19 April 2016, 3:59 pm | BusinessDesk
April 19 (BusinessDesk) - The government wants to streamline the country's driver licensing system quicker and make it easier to obtain a heavy truck license, which may help alleviate a shortage of drivers in the industry. More >>
Energy sector veteran to lead Chch anchor projects company
Tuesday, 19 April 2016, 3:26 pm | BusinessDesk
April 19 (BusinessDesk) - Retiring Genesis Energy chief executive Albert Brantley is to be the chief executive of the newly created Crown company overseeing construction of Christchurch's so-called 'anchor' projects. More >>
NZ Super Fund sells assets
Tuesday, 19 April 2016, 1:25 pm | BusinessDesk
April 19 (BusinessDesk) - The New Zealand Superannuation Fund has sold its investments in three offshore private equity funds with the price paid and the name of the buyer kept confidential, though the funds were collectively valued at $101 million in its ... More >>
Potential buyers line up for ANZ Bank's UDC finance business
Tuesday, 19 April 2016, 12:46 pm | BusinessDesk
April 19 (BusinessDesk) - Private equity buyers would have an advantage over banks in bidding for ANZ Bank New Zealand's UDC Finance business because they would not be bound by capital adequacy ratio requirements, says First NZ Capital in analysis ... More >>
Stride Property to reap $31.8M from Penrose property
Tuesday, 19 April 2016, 11:34 am | BusinessDesk
April 19 (BusinessDesk) - Stride Property has conditionally agreed to sell its office building at 650 Great South Road, Penrose for $31.8 million, or 7.8 percent above book value. More >>
NZ services growth slows in March
Tuesday, 19 April 2016, 11:31 am | BusinessDesk
April 19 (BusinessDesk) - Growth in New Zealand's services sector, which accounts for about two-thirds of the economy, eased in March, echoing a slowdown in the pace of manufacturing. More >>
NZ services growth slows in March
Tuesday, 19 April 2016, 11:29 am | BusinessDesk
April 19 (BusinessDesk) - Growth in New Zealand's services sector, which accounts for about two-thirds of the economy, eased in March, echoing a slowdown in the pace of manufacturing. More >>
Little promotes Faafoi to shadow Labour Cabinet
Tuesday, 19 April 2016, 10:55 am | BusinessDesk
April 19 (BusinessDesk) - Labour Party leader Andrew Little has promoted Wellington MP and former broadcaster Kris Faafoi to the tourism portfolio to fill a gap left by departing MP Clayton Cosgrove, who nonetheless keeps the commerce portfolio and ... More >>
