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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 64]
Scales signals earnings growth from reshaped business
Monday, 20 May 2019, 1:16 pm | BusinessDesk
May 20 (BusinessDesk) - Scales Corp says full-year operating earnings from its reshaped business may rise as much as 13 percent. More >>
Steel & Tube cuts earnings outlook on margin squeeze
Monday, 20 May 2019, 1:06 pm | BusinessDesk
May 20 (BusinessDesk) - Steel & Tube Holdings has cut its earnings outlook as margins remain under pressure, and after restating its year-earlier accounts gave it a lower starting point. More >>
Bankers' Assn says RBNZ proposals would hurt the economy
Monday, 20 May 2019, 1:04 pm | BusinessDesk
May 20 (BusinessDesk) - The New Zealand Bankers' Association is calling for a rethink of the Reserve Bank’s bank capital proposals to avoid hurting the economy. More >>
Northland rail upgrade a strategic investment
Monday, 20 May 2019, 12:01 pm | BusinessDesk
May 20 (BusinessDesk) - Building a new rail link to Marsden Point and upgrading the existing Northland line could bring forward Northport’s development as a major freight handler for Auckland and help boost the broader regional economy, an economic ... More >>
NZD slightly weaker against Aussie after surprise victory
Monday, 20 May 2019, 11:59 am | BusinessDesk
May 20 (BusinessDesk) - The New Zealand dollar was slightly weaker against its trans-Tasman counterpart - and may come under more pressure - after Australia's centre-right government won a surprise election victory over the weekend. More >>
Fed speechs, Australian election outcome to impact NZ market
Monday, 20 May 2019, 10:49 am | BusinessDesk
May 20 (BusinessDesk) - A plethora of United States Federal Reserve speakers at the Atlanta Fed's annual meeting this week ought to shed further light on where global interest rates are going. More >>
Infratil confident of Vodafone clearance
Monday, 20 May 2019, 10:28 am | BusinessDesk
May 20 (BusinessDesk) - Infratil is confident its purchase of Vodafone New Zealand will be approved by regulators and says it has no interest in selling out of Trustpower to help secure a deal. More >>
MARKET CLOSE: NZ shares rise; trading quiet
Friday, 17 May 2019, 8:41 pm | BusinessDesk
May 17 (BusinessDesk) - New Zealand shares rose in quiet trading, as investors prepare for a flurry of earnings next week. Infratil entered a trading halt for the first tranche of a $400 million capital raising. More >>
NZ dollar firms against the Aussie
Friday, 17 May 2019, 8:18 pm | BusinessDesk
May 17 (BusinessDesk) - The New Zealand dollar rose against its trans-Tasman counterpart as the market awaits the outcome of Australia’s federal election tomorrow and as trade tensions between China and the US remain top of mind among traders. More >>
Deloitte report shows building material costs are low
Friday, 17 May 2019, 6:52 pm | BusinessDesk
May 17 (BusinessDesk) - The cost of building materials in New Zealand account for between 16-24 percent of the cost of residential housing development costs, depending on the type of building and location, according to a study by accounting firm Deloitte. More >>
UPDATE: Infratil kicks off $400M equity raising
Friday, 17 May 2019, 6:51 pm | BusinessDesk
May 17 (BusinessDesk) – Infratil’s purchase of a stake in Vodafone New Zealand will be transformative for its portfolio and should generate the sort of returns that will allow the company to return to a rising dividend track, chief executive ... More >>
RBNZ censures ANZ, prescribes risk capital calculation
Friday, 17 May 2019, 5:01 pm | BusinessDesk
May 17 (BusinessDesk) - The Reserve Bank of New Zealand has revoked ANZ Bank New Zealand's accreditation to model its own operational risk capital requirement due to a "persistent failure" in its controls and attestation process. More >>
SeaDragon shareholders back $4M injection
Friday, 17 May 2019, 3:45 pm | BusinessDesk
SeaDragon shareholders back $4M injection to stave off liquidation More >>
Businesses get some reprieve in March quarter
Friday, 17 May 2019, 2:28 pm | BusinessDesk
May 17 (BusinessDesk) - Businesses got a reprieve in the March quarter as cheaper wholesale electricity helped push down the prices producers paid in the period. More >>
NZ manufacturing activity expands on month in April
Friday, 17 May 2019, 2:07 pm | BusinessDesk
May 17 (BusinessDesk) - New Zealand's April manufacturing activity expanded versus March but was well down on the year as demand growth continues to cool. More >>
Xero's CEO says it still has a cautious future in the US
Friday, 17 May 2019, 1:43 pm | BusinessDesk
May 17 (BusinessDesk) - Xero’s chief executive still sees a future for the accounting software company in the US but he’s careful to dampen expectations of what’s possible. More >>
Infratil kicks off $400M equity raising
Friday, 17 May 2019, 12:39 pm | BusinessDesk
May 17 (BusinessDesk) - Infratil plans to sell about 100 million new shares at $4 each to help fund its $3.4 billion purchase of Vodafone New Zealand. More >>
Genesis signs up to 20-year supply agreement
Friday, 17 May 2019, 12:18 pm | BusinessDesk
May 17 (BusinessDesk) - Genesis Energy and Tilt Renewables have signed a 20-year supply agreement, laying the foundation for the construction of a 31-turbine wind farm in Waverley, South Taranaki. More >>
NZ dollar weakens on strong US data, trade tensions
Friday, 17 May 2019, 11:15 am | BusinessDesk
May 17 (BusinessDesk) - The New Zealand dollar opened weaker after stronger than expected US data gave the greenback a lift and as trade tensions continue to dampen risk appetite. More >>
MARKET CLOSE: NZ shares extend gain
Thursday, 16 May 2019, 9:11 pm | BusinessDesk
May 16 (BusinessDesk) - New Zealand shares rose for a second day in an increasingly volatile market. Equities rose across Asia and Chorus led the local market higher. More >>
