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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 637]
UPDATE: Fonterra 'walks fine line' in first-half result
Wednesday, 23 March 2016, 11:36 am | BusinessDesk
March 23 (BusinessDesk) - Fonterra Cooperative Group, the world's largest dairy exporter, has avoided weakening its balance sheet by providing support to farmers via a higher first-half dividend while shifting production to higher-margin goods to lift profit ... More >>
NZOG, Tag, Beach partnership to surrender offshore permit
Wednesday, 23 March 2016, 10:33 am | BusinessDesk
March 23 (BusinessDesk) - New Zealand Oil & Gas, Tag Oil and Beach Energy want to surrender their permit to explore the Kaheru permit off the Taranaki coast, saying the current conditions don't support drilling which has to start in May. More >>
Intueri extends banking facility to finalise acquisitions
Wednesday, 23 March 2016, 10:31 am | BusinessDesk
March 23 (BusinessDesk) - Intueri Education Group, whose Quantum Education Group unit is under investigation by the Serious Fraud Office, has extended its bank facility to $80 million as it makes the final payments for two acquisitions. More >>
Manuka honey products maker Oceania Natural next NXT listing
Wednesday, 23 March 2016, 10:02 am | BusinessDesk
March 23 (BusinessDesk) - Food supplements maker Oceania Natural is set to become the third company to join NZX's NXT market in a compliance listing set for the end of the month valuing the firm at $15.9 million. More >>
Fonterra doubles interim dividend, lifts 1H profit 123%
Wednesday, 23 March 2016, 9:24 am | BusinessDesk
March 23 (BusinessDesk) - Fonterra Cooperative Group, the world's largest dairy exporter, doubled its interim dividend after shifting more production to higher-margin products in the face of weak milk powder prices and reporting a 123 percent jump in first-half ... More >>
NZ dollar declines after Belgium terrorist attacks
Wednesday, 23 March 2016, 8:44 am | BusinessDesk
March 23 (BusinessDesk) - The New Zealand dollar fell after terrorist attacks in Brussels prompted investors to seek so-called safe haven assets such as bonds and gold and eschew higher risk bets such as the kiwi. More >>
Tax info sharing agreements set to extend to spies
Wednesday, 23 March 2016, 7:59 am | BusinessDesk
March 23 (BusinessDesk) - New Zealand's intelligence agencies would be able to access individuals' tax information if parliament backs the recent review carried out by Michael Cullen and Patsy Reddy. More >>
MARKET CLOSE: NZ shares rise on Meridian's smelter deadline
Tuesday, 22 March 2016, 5:59 pm | BusinessDesk
March 22 (BusinessDesk) - New Zealand shares extended their rally after Meridian Energy, which has been in demand from index-weighted funds, said its smelter contract may stay in place for longer. Kathmandu Holdings rose after posting its first-half ... More >>
Yield on Hart's UCI junk bonds spikes
Tuesday, 22 March 2016, 5:37 pm | BusinessDesk
Yield on Hart's UCI junk bonds spikes, Moody's cuts rating after missing payment More >>
NZ dollar little changed as Fed's path comes back into view
Tuesday, 22 March 2016, 5:21 pm | BusinessDesk
March 22 (BusinessDesk) - The New Zealand dollar, which has gained almost 7 percent from its January lows, was little changed as Standard & Poor's affirmed the sovereign rating and traders weakened the greenback on speculation the Federal Reserve won't ... More >>
NZX asks Pushpay to 'please explain' 39% share price rally
Tuesday, 22 March 2016, 3:24 pm | BusinessDesk
March 22 (BusinessDesk) - Pushpay Holdings says it has no material information to declare to the market, in response to a 'please explain' notice from the NZX over a 39 percent gain in the share price. More >>
S&P gives NZ AA credit rating on stable outlook
Tuesday, 22 March 2016, 3:13 pm | BusinessDesk
March 22 (BusinessDesk) - New Zealand's foreign currency credit rating was affirmed at AA with a stable outlook by Standard & Poor's, which said the nation enjoys monetary and fiscal flexibility and a resilient economy that offset the risks of ... More >>
Farmers need to invest more in climate change science: Key
Tuesday, 22 March 2016, 2:45 pm | BusinessDesk
March 22 (BusinessDesk) - New Zealand farmers need to step up their investment on science and innovation to combat the impact of methane and nitrates from agriculture on climate change, Prime Minister John Key said. More >>
Meridian, NZAS extend 400MW notice period
Tuesday, 22 March 2016, 2:41 pm | BusinessDesk
March 22 (BusinessDesk) - Meridian Energy and New Zealand Aluminium Smelters have pushed out the deadline for the Tiwai Point smelter operator to give a year's notice to reduce its power supply to 400 megawatts until July. More >>
UPDATE: Kathmandu targets 10% of total sales online
Tuesday, 22 March 2016, 1:14 pm | BusinessDesk
March 22 (BusinessDesk) - Kathmandu Holdings, the outdoor equipment chain that fended off a hostile takeover by Briscoe Group last year, aims to lift the proportion of total revenue it garners online to 10 percent from 6.6 percent currently and is considering ... More >>
CORRECT: NZ PM Key says low dairy prices will rebound
Tuesday, 22 March 2016, 1:11 pm | BusinessDesk
March 22 (BusinessDesk) - Prime Minister John Key says he's confident dairy prices, which have slumped below the cost of production, will rebound as growing Asian populations boost demand. More >>
Key sees dairy rebound as Asia demand recovers
Tuesday, 22 March 2016, 12:58 pm | BusinessDesk
March 22 (BusinessDesk) - Prime Minister John Key says he's confident dairy prices, which have slumped below the cost of production, will rebound as growing Asian populations boost demand. More >>
Kathmandu turns to first-half profit, in line with guidance
Tuesday, 22 March 2016, 10:32 am | BusinessDesk
March 22 (BusinessDesk) - Kathmandu Holdings, the outdoor equipment chain that fended off a hostile takeover by Briscoe Group last year, turned to a first-half profit that met guidance and said its operating margin widened as it kept expenses under ... More >>
NZ dollar little changed as US dollar recovers ground
Tuesday, 22 March 2016, 8:46 am | BusinessDesk
March 22 (BusinessDesk) - The New Zealand dollar was little changed overnight as the US dollar continued to recover ground after dropping last week when the Federal Reserve pulled back its prediction for future interest rate hikes. More >>
Electric cars make more sense that solar power in NZ: study
Tuesday, 22 March 2016, 7:44 am | BusinessDesk
March 21 (BusinessDesk) - Electric vehicles are far more useful to New Zealand for reducing carbon emissions than rooftop solar power, says a new study by energy industry consultants Concept. More >>
