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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 636]
NZ wool prices decline at auction as demand wanes
Thursday, 24 March 2016, 1:14 pm | BusinessDesk
March 24 (BusinessDesk) - New Zealand wool prices eased at this week's auction as buyers sourced their immediate needs to meet their contracts with volumes tapering off following the end of the peak shearing season. More >>
Rubicon's ArborGen settles with ex-employees, avoids payout
Thursday, 24 March 2016, 12:13 pm | BusinessDesk
March 24 (BusinessDesk) - American seedling company ArborGen, which is part-owned by NZX-listed forestry biotech company Rubicon, has settled with nine former employees for an undisclosed sum, avoiding having to pay US$53 million in damages and costs. More >>
AFT gets first step of US approval for Maxigesic IV
Thursday, 24 March 2016, 11:56 am | BusinessDesk
March 24 (BusinessDesk) - AFT Pharmaceuticals has crossed the first hurdle in getting the intravenous version of its patented combination painkiller Maxigesic approved by the US Food and Drug Administration. More >>
Augusta loses PIE status as fund management swells
Thursday, 24 March 2016, 11:53 am | BusinessDesk
Augusta Capital confirms loss of PIE status as market value of funds management exceeds 10% of assets More >>
Robots will make your coffee, Labour conference hears
Thursday, 24 March 2016, 11:49 am | BusinessDesk
March 24 (BusinessDesk) - Robots will replace baristas in cafes as part of a coming wave of job losses in service industries that will occur "at an unprecedented rate" as a massive jump in productivity caused by digital technology takes hold ... More >>
NZ posts bigger-than-forecast trade surplus in February
Thursday, 24 March 2016, 11:47 am | BusinessDesk
March 24 (BusinessDesk) - New Zealand posted a bigger trade surplus than expected in February, as exports were bolstered by a $267 million drilling platform. More >>
Scott Tech 1H profit jumps 70%; eyes German acquisition
Thursday, 24 March 2016, 11:27 am | BusinessDesk
March 24 (BusinessDesk) - Scott Technology, which is still awaiting approval to hand control over to Brazil's JBS, lifted first-half profit 70 percent as the recently acquired Machinery Automation and Robotics unit injected more revenue and the industrial ... More >>
Spark cleared to buy Craig Wireless spectrum
Thursday, 24 March 2016, 9:18 am | BusinessDesk
March 24 (BusinessDesk) - Spark New Zealand has been given the all-clear to buy Craig Wireless's unused radio spectrum, expanding the country's biggest telecommunications company's ability to provide wireless services. More >>
NZ dollar falls as Fed officials talk up rate hike prospects
Thursday, 24 March 2016, 8:39 am | BusinessDesk
March 24 (BusinessDesk) - The New Zealand dollar fell as more Federal Reserve officials suggested the US central bank should be hiking interest rates, contrasting with its decision last week to keep rates on hold. More >>
MARKET CLOSE: NZ shares hit fresh high; Orion, Spark gain
Wednesday, 23 March 2016, 6:04 pm | BusinessDesk
March 23 (BusinessDesk) - New Zealand shares edged to a fresh record high, with Orion Health Group and Spark New Zealand leading the index as investors shrugged off fears the Belgium terror attacks would weigh on the market. More >>
TPP 'atrocious', Reich tells Labour future of work event
Wednesday, 23 March 2016, 5:55 pm | BusinessDesk
March 23 (BusinessDesk) - In comments that raised a cheer from many of the approximately 200 Labour Party members, trade unionists, economists and businesspeople attending the Labour Party's two Future of Work conference, former Clinton era US Labor Secretary ... More >>
Chorus sees free non-standard UFB installation staying
Wednesday, 23 March 2016, 5:52 pm | BusinessDesk
March 23 (BusinessDesk) - Telecommunications network company Chorus says it's confident households that are trickier to connect to ultra-fast broadband won't have to pay extra for installation from next year. More >>
Labour forced to clarify UBI 'not party policy'
Wednesday, 23 March 2016, 5:49 pm | BusinessDesk
March 23 (BusinessDesk) - The Labour Party's Future of Work conference saw the party leadership forced to insist that discussion of a universal basic income did not constitute party policy, which is "still some way away." More >>
Hallenstein Glasson 1H profit drops 21%
Wednesday, 23 March 2016, 5:36 pm | BusinessDesk
March 23 (BusinessDesk) - Clothing retailer Hallenstein Glasson Holdings posted a 21 percent drop in first-half profit and warned that a warm autumn is having an impact on sales in both Australia and New Zealand. More >>
NZ dollar recovers from Brussels attacks dip
Wednesday, 23 March 2016, 5:31 pm | BusinessDesk
NZ dollar little changed in short Easter week after dipping in wake of Brussels attacks More >>
Auckland Council sells $250M of bonds at record low rate
Wednesday, 23 March 2016, 5:06 pm | BusinessDesk
Auckland Council raises $250M selling four-year bonds at record-low coupon of 3.04% More >>
Auckland developer Wilshire Group buys Springpark
Wednesday, 23 March 2016, 3:03 pm | BusinessDesk
March 23 (BusinessDesk) - Auckland residential property developer Wilshire Group has bought the failed Springpark development in the suburb of Mt Wellington out of receivership for an undisclosed sum. More >>
Labour looks to 'limited trial' of universal basic income
Wednesday, 23 March 2016, 1:59 pm | BusinessDesk
March 23 (BusinessDesk) - The Labour Party is signalling major reform of the social welfare system that it founded, saying it will investigate "new models of income security for New Zealand, including considering a limited trial of a universal basic ... More >>
Landcorp sheep milk JV pre-sold first season's production
Wednesday, 23 March 2016, 1:56 pm | BusinessDesk
March 23 (BusinessDesk) - Spring Sheep Dairy, the sheep milk joint venture half owned by Landcorp, has pre-sold 95 percent of its first season's production as probiotic powders to Taiwan, and is looking to expand its operation next season. More >>
UPDATE2: Fonterra reaped gains from slow supplier payments
Wednesday, 23 March 2016, 1:15 pm | BusinessDesk
March 23 (BusinessDesk) - Fonterra Cooperative Group, the world's largest dairy exporter, says it gained a $50 million-to-$70 million benefit from extending payment terms by a month to about 1,000 New Zealand suppliers. More >>
