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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 640]
NZ dollar jumps a US cent after Fed pulls back rate forecast
Thursday, 17 March 2016, 8:39 am | BusinessDesk
March 17 (BusinessDesk) - The New Zealand dollar jumped a cent against the US dollar after the Federal Reserve pulled back its expectations for US interest rate hikes this year, on concern about the impact of slower global growth. More >>
While you were sleeping: Positioning for the Fed
Thursday, 17 March 2016, 6:34 am | BusinessDesk
March 17 (BusinessDesk) - Equites moved lower before the end of the US Federal Open Market Committee two-day meeting. More >>
MARKET CLOSE: NZ shares fall, breaking 12-session streak
Wednesday, 16 March 2016, 5:45 pm | BusinessDesk
MARKET CLOSE: NZ shares fall, breaking 12-session streak; Xero, Genesis drop, SkyCity and Sky TV gain More >>
NZ dollar holds near two-week low ahead of FOMC meeting, GDP
Wednesday, 16 March 2016, 5:20 pm | BusinessDesk
March 16 (BusinessDesk) - The New Zealand dollar held near a two-week low ahead of the Federal Reserve's latest policy review and local figures on fourth-quarter economic growth. More >>
Appeal Court orders ponzi investor to repay profits
Wednesday, 16 March 2016, 4:27 pm | BusinessDesk
March 16 (BusinessDesk) - The Court of Appeal will let Ross Asset Management investor Hamish McIntosh keep the $500,000 he managed to extract from the Ponzi scheme before its failure, but not the fictitious profits he earned. More >>
Trustees under the gun on ESG issues
Wednesday, 16 March 2016, 4:16 pm | BusinessDesk
March 16 (BusinessDesk) - There has been a big shift in thinking in the past two years that trustees now have a fiduciary duty to consider environmental, social, and governance issues when investing money under their care, says Responsible Investment ... More >>
NZ Rugby falls to loss, increases provincial funding
Wednesday, 16 March 2016, 4:14 pm | BusinessDesk
March 16 (BusinessDesk) - New Zealand Rugby turned to a loss in 2015 and is budgeting for that loss to worsen this year as the national sports administrator increases funding to financially challenged provincial rugby. More >>
Rabobank NZ posts 26% drop in FY profit, lifts provisions
Wednesday, 16 March 2016, 2:18 pm | BusinessDesk
March 16 (BusinessDesk) - Rabobank New Zealand Banking Group posted a 26 percent decline in annual profit as its expense growth exceeded a rise in interest income. More >>
NZ banks strong enough to withstand prolonged dairy weakness
Wednesday, 16 March 2016, 2:00 pm | BusinessDesk
March 16 (BusinessDesk) - ASB Bank, ANZ Bank New Zealand, Bank of New Zealand, Westpac New Zealand and Rabobank New Zealand - which account for about 98 percent of lending to dairy farmers - are strong enough to withstand a protracted period of low dairy ... More >>
Big carbon emitters to lose ETS subsidy: Bennett
Wednesday, 16 March 2016, 1:46 pm | BusinessDesk
March 16 (BusinessDesk) - Big industrial emitters of greenhouse gases will lose their right under the emissions trading scheme to offset only half of their emissions, Climate Change Minister Paula Bennett told an international energy conference in ... More >>
Fonterra confirms plan to close Kaikoura cheese plant
Wednesday, 16 March 2016, 11:45 am | BusinessDesk
March 16 (BusinessDesk) - Fonterra Cooperative Group, New Zealand's largest dairy processor, confirmed it will close its cheese plant in the South Island town of Kaikoura next month as it strives to make the business more efficient in the face of low milk ... More >>
Career public servant Andrew Hampton named GCSB director
Wednesday, 16 March 2016, 11:28 am | BusinessDesk
March 16 (BusinessDesk) - Andrew Hampton has been appointed as the director of the Government Communications Security Bureau. More >>
Tourists help narrow NZ’s annual current account deficit
Wednesday, 16 March 2016, 11:02 am | BusinessDesk
March 16 (BusinessDesk) - Spending by international visitors in New Zealand reached a record high in 2015, helping narrow the nation’s current account deficit and offsetting a decline in the impact of falling dairy exports. More >>
Chorus to cover brokerage for small shareholder exit
Wednesday, 16 March 2016, 9:46 am | BusinessDesk
March 16 (BusinessDesk) - Chorus will cover brokerage fees for small shareholders wanting to sell their parcels in a scheme that could whittle down the regulated telecommunications network operator's register by a sixth. More >>
NZ dollar slides to 2-week low on weaker commodity prices
Wednesday, 16 March 2016, 8:43 am | BusinessDesk
March 16 (BusinessDesk) - The New Zealand dollar dropped to a two-week low as the price of dairy products and other commodities declined. More >>
Squirrel warns of Auckland house price correction risks
Wednesday, 16 March 2016, 8:25 am | BusinessDesk
March 16 (BusinessDesk) - Squirrel Group, the mortgage broker and peer-to-peer lender, cites an Auckland housing market correction that could significantly slow sales as a risk to its $4.97 million private equity crowdfunding offer currently underway. More >>
While you were sleeping: Equities fall with commodities
Wednesday, 16 March 2016, 7:23 am | BusinessDesk
March 16 (BusinessDesk) - Equites moved lower with commodity prices, including oil and gold, as the US Federal Open Market Committee began its latest two-day meeting. More >>
Dairy product prices resume slide on global glut
Wednesday, 16 March 2016, 6:36 am | BusinessDesk
March 16 (BusinessDesk) - Dairy product prices fell in the latest GlobalDairyTrade auction, posting their fifth decline in the six auctions held so far in 2016, as the global milk glut shows little sign of abating. More >>
Hotchin prepared to flip-flop in pursuit of Guardian Trust
Tuesday, 15 March 2016, 6:23 pm | BusinessDesk
March 15 (BusinessDesk) - Former Hanover Finance principal Mark Hotchin will have to reverse course and admit negligence if he wants to successfully squeeze funds out of the failed lender's former trustee Guardian Trust to help cover an $18 million ... More >>
MARKET CLOSE: NZ shares rise on continued hunger for yield
Tuesday, 15 March 2016, 5:52 pm | BusinessDesk
MARKET CLOSE: NZ shares rise on continued hunger for yield; SkyCity, Freightways up, Skellerup down More >>
