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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 629]
JBS bid for majority of Scott Technology unconditional
Thursday, 7 April 2016, 5:01 pm | BusinessDesk
April 7 (BusinessDesk) - Brazilian meat processor JBS's move to take majority control of Scott Technology has gone unconditional with the scheme of arrangement to be implemented next week. More >>
Peters and Brash team up to attack Maori preferences
Thursday, 7 April 2016, 4:53 pm | BusinessDesk
April 7 (BusinessDesk) - One-time political rivals Winston Peters and Don Brash effectively tag-teamed at the opening hearings at Parliament of submissions on a government bill to reform the Resource Management Act which both believe has made too many concessions ... More >>
Rebuild of central Christchurch in Treasury's red zone
Thursday, 7 April 2016, 3:57 pm | BusinessDesk
April 7 (BusinessDesk) - Treasury analysis of the government's major investments has highlighted major issues with the delivery of anchor projects in central Christchurch as part of the Canterbury rebuild. More >>
SkyCity denies reports Darwin casino for sale as CEO resigns
Thursday, 7 April 2016, 3:42 pm | BusinessDesk
April 7 (BusinessDesk) - SkyCity Entertainment Group, whose chief executive Nigel Morrison resigned today to "take a break", has denied Australian media reports it's Darwin casino is being touted to international investors. More >>
NZ labour market 'balance' caps wage inflation
Thursday, 7 April 2016, 1:41 pm | BusinessDesk
April 7 (BusinessDesk) - The largest recorded surge in migration in a century has helped drive New Zealand's economic growth but has also boosted the labour force, keeping a lid on wage inflation, says Reserve Bank Deputy Governor Geoff Bascand. More >>
SkyCity CEO Morrison steps down
Thursday, 7 April 2016, 1:11 pm | BusinessDesk
April 7 (BusinessDesk) - SkyCity Entertainment Group chief executive Nigel Morrison has resigned from New Zealand's only listed casino company, saying he is keen to take a break from the "demanding job" following an eight-year tenure. More >>
NZ businesses spend more on research and development
Thursday, 7 April 2016, 11:38 am | BusinessDesk
April 7 (BusinessDesk) - New Zealand businesses spent more on research and development in 2015 but the number of firms doing so has been static for some years and R&D spend as a percentage of overall innovation actually fell, a new survey shows. More >>
Abano expects gain in annual earnings
Thursday, 7 April 2016, 10:10 am | BusinessDesk
April 7 (BusinessDesk) - Abano Healthcare, the listed medical and dental centre investor, expects an uplift in annual earnings as a strong performance from its New Zealand dental chain offsets a flat performance from its Australian dental business. More >>
Auckland Airport refinances $300 million of bank facilities
Thursday, 7 April 2016, 10:08 am | BusinessDesk
April 7 (BusinessDesk) - Auckland International Airport, the country’s largest airport operator, has established $200 million in standby facilities to refinance $115 million in existing bank facilities, along with another $100 million to pay ... More >>
NZ dollar advances as oil price rise bolsters currencies
Thursday, 7 April 2016, 8:41 am | BusinessDesk
April 7 (BusinessDesk) - The New Zealand dollar advanced as a gain in the price of crude oil lifted sentiment for commodity-linked currencies. More >>
OIO signs off Vector transmission network sale
Thursday, 7 April 2016, 8:38 am | BusinessDesk
April 6 (BusinessDesk) - The Overseas Investment Office has approved the sale of Vector's gas transmission and gas distribution businesses outside Auckland to the global fund manager, First State Funds. More >>
MARKET CLOSE: NZ shares rise; Orion, Comvita gain on news
Thursday, 7 April 2016, 8:36 am | BusinessDesk
April 6 (BusinessDesk) - New Zealand shares rose, led by Orion Health Group reporting another major contract, while Comvita is poised to enter the index of top 50 stocks. More >>
While you were sleeping: Pfizer, Allergan terminate deal
Thursday, 7 April 2016, 7:04 am | BusinessDesk
April 7 (BusinessDesk) - Shares of Pfizer and Allergan led gains in health care stocks on both sides of the Atlantic as their abandoned merger plans, following new US tax rules, spurred fresh bets on new merger and acquisition activity in the sector. More >>
Commerce Commission says Steel & Tube mesh failed its tests
Wednesday, 6 April 2016, 6:19 pm | BusinessDesk
April 6 (BusinessDesk) - The Commerce Commission says seismic steel mesh which it tested as part of an investigation into Steel & Tube Holdings didn't meet the requirements of the standard and it understands the mesh will not be sold until compliance ... More >>
NZ dollar little changed after rebound on dairy auction
Wednesday, 6 April 2016, 5:37 pm | BusinessDesk
April 6 (BusinessDesk) - The New Zealand dollar was little changed, having rebounded from an earlier decline when the GlobalDairyTrade auction showed a gain in prices, as traders look ahead to a speech by Federal Reserve chair Janet Yellen for clues ... More >>
Nikko's Williams warns NZ shares are "expensive"
Wednesday, 6 April 2016, 4:36 pm | BusinessDesk
April 6 (BusinessDesk) - Nikko Asset Management's head of equities Stuart Williams has warned New Zealand's share market is overly expensive though he acknowledged that yield has held up. More >>
Comvita to enter S&P/NZX 50 if Diligent takeover proceeds
Wednesday, 6 April 2016, 4:02 pm | BusinessDesk
April 6 (BusinessDesk) - Comvita, the natural health products company, is to enter the S&P/NZX 50 Index if the takeover of Diligent Corp by Insight Venture Partners goes ahead. More >>
A2 Milk sets out changes imposed by Chinese regulators
Wednesday, 6 April 2016, 3:57 pm | BusinessDesk
April 6 (BusinessDesk) - Speciality milk marketer A2 Milk has outlined a number of regulatory changes signalled by the Chinese government in relation to the lucrative infant formula market, in an investor presentation in Sydney. More >>
Steel & Tube imposes new testing regime on seismic mesh
Wednesday, 6 April 2016, 3:53 pm | BusinessDesk
April 6 (BusinessDesk) - Steel & Tube Holdings, which is being investigated by the Commerce Commission after admitting selling "many thousands of sheets" of earthquake reinforcing mesh incorrectly labelled as being independently certified, ... More >>
NZ business R&D spending increased last year
Wednesday, 6 April 2016, 2:55 pm | BusinessDesk
NZ business R&D spending increased last year, but costs, lack of resources seen as impediments More >>
