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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 63]
Auckland Airport kicks off next phase of expansion
Tuesday, 21 May 2019, 4:02 pm | BusinessDesk
May 21 (BusinessDesk) - A new taxiway and aircraft parking area will increase Auckland International Airport’s airfield by about 18 percent and free up land for the next phase of its development. More >>
Cashed-up Plexure eyes acquisitions to accelerate growth
Tuesday, 21 May 2019, 1:50 pm | BusinessDesk
May 21 (BusinessDesk) - Plexure Group more than halved its annual loss as the cashed-up mobile advertising firm boosted revenue, and it's now looking at acquisitions to accelerate that growth. More >>
IRD should have doubled claim against Watson's Cullen Group
Tuesday, 21 May 2019, 1:49 pm | BusinessDesk
May 21 (BusinessDesk) - Inland Revenue Commissioner Naomi Ferguson should have asked the courts for twice as much as it was awarded earlier this month against Eric Watson’s Cullen Group, according to a University of Auckland law professor. More >>
Tower turns to 1H profit, lifts FY guidance
Tuesday, 21 May 2019, 12:56 pm | BusinessDesk
May 21 (BusinessDesk) - Tower turned to a profit in the first half of the year and lifted its full-year guidance as gross written premiums rose and claims costs fell. More >>
Investore FY profit falls 16% on smaller valuation gain
Tuesday, 21 May 2019, 12:49 pm | BusinessDesk
May 21 (BusinessDesk) - Investore Property posted a 16 percent decline in annual profit as it reaped a smaller valuation gain on its large-format retail property portfolio than a year earlier. More >>
Synlait receives cease and desist letter regarding Pokeno
Tuesday, 21 May 2019, 11:56 am | BusinessDesk
May 21 (BusinessDesk) - Synalit Milk has received a cease and desist letter regarding its Pokeno land but believes a practical solution is attainable. More >>
NZ dollar steady ahead of central bank speeches
Tuesday, 21 May 2019, 11:04 am | BusinessDesk
May 21 (BusinessDesk) - The New Zealand dollar was steady ahead of speeches by US Federal Reserve chair Jerome Powell and Australia's central bank governor Philip Lowe. More >>
Auditors need to come out of the shadows
Tuesday, 21 May 2019, 10:18 am | BusinessDesk
May 21 (BusinessDesk) - Financial Markets Authority chief executive Rob Everett wants the audit profession to explain how it adds value to investors, who are largely sceptical of their benefit. More >>
MARKET CLOSE: NZ shares gain on Liberal win
Monday, 20 May 2019, 9:56 pm | BusinessDesk
May 20 (BusinessDesk) - New Zealand shares rose as Australian bank stocks were buoyed by the Liberal-National coalition's electoral win over the weekend, removing the threat of tax changes. More >>
NZ dollar rises against Aussie, Chinese yuan
Monday, 20 May 2019, 9:55 pm | BusinessDesk
May 20 (BusinessDesk) - The New Zealand dollar strengthened against its Australian counterpart and the Chinese yuan but was little changed against other currencies. More >>
Geothermal production drives record Eastland earnings
Monday, 20 May 2019, 7:03 pm | BusinessDesk
May 20 (BusinessDesk) - Eastland Group has returned a record $12.1 million to its community shareholding trust, boosted by earnings from the firm’s new geothermal plant at Kawerau. More >>
RBNZ to announce final decision on bank capital rules by Nov
Monday, 20 May 2019, 6:35 pm | BusinessDesk
May 20 (BusinessDesk) - The Reserve Bank says it will announce its final decision on new bank capital rules by the end of November. More >>
Licensing key to cannabis firm Cannasouth's ambitions
Monday, 20 May 2019, 5:42 pm | BusinessDesk
Licensing key to medicinal cannabis firm Cannasouth's ambitions More >>
27.1% equity if RBNZ proposals are adopted - PwC
Monday, 20 May 2019, 3:30 pm | BusinessDesk
May 20 (BusinessDesk) - New Zealand’s major banks already hold more capital than Australian, Canadian, Austrian, Irish and Singaporean banks, a new study by PricewaterhouseCoopers has found. More >>
UPDATE: Kiwi Property lifts annual profit 15%
Monday, 20 May 2019, 3:14 pm | BusinessDesk
May 20 (BusinessDesk) - Kiwi Property Group says annual net profit rose 15 percent, driven mainly by the rising values of its properties. More >>
UPDATE: Steel & Tube shares drop 8.9% on earnings downgrade
Monday, 20 May 2019, 2:53 pm | BusinessDesk
May 20 (BusinessDesk) - Steel & Tube Holdings shares dropped 8.9 percent after the steel products maker cut its earnings outlook. More >>
Terra Vitae says poor harvest to hit sales, earnings
Monday, 20 May 2019, 2:13 pm | BusinessDesk
May 20 (BusinessDesk) - Grape grower Terra Vitae has warned earnings will be reduced by a poor harvest. More >>
Weak services sector growth raises concerns about slowdown
Monday, 20 May 2019, 1:57 pm | BusinessDesk
May 20 (BusinessDesk) - New Zealand’s services sector activity slipped further in April, touching the lowest level in more than six years and adding to concerns about an economic slowdown. More >>
National sticks to bob-each-way on US-China relations
Monday, 20 May 2019, 1:45 pm | BusinessDesk
May 20 (BusinessDesk) - The National Party proposes ambitious new trade targets for New Zealand's relations with both China and the United States in a foreign affairs discussion document released this morning for public consultation. More >>
Kiwi Property lifts annual profit 15% as valuations rise
Monday, 20 May 2019, 1:44 pm | BusinessDesk
May 20 (BusinessDesk) - Kiwi Property Group says annual net profit rose 15 percent, driven mainly by the rising values of its properties. More >>
