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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 645]
Trustpower test case on tax deductions reaches Supreme Court
Tuesday, 8 March 2016, 3:03 pm | BusinessDesk
March 8 (BusinessDesk) - Trustpower opened its challenge to a judgment against its claim $for 17.7 million of tax deductions on project costs between 2006 and 2008 in the Supreme Court today, in a case being closely watched by other large-scale ... More >>
Squirrel Group to seek $5mln in crowdfunding offer
Tuesday, 8 March 2016, 12:23 pm | BusinessDesk
March 8 (BusinessDesk) - Mortgage broker and peer-to-peer lender, Squirrel Group, is launching a $5 million equity crowdfunding private offer today, in what’s likely to be its last capital-raising before an intended sharemarket listing next year. More >>
NZ manufacturing sales volumes gain 1.3% in 2015 final 1/4
Tuesday, 8 March 2016, 11:38 am | BusinessDesk
NZ manufacturing sales volumes gain 1.3% in 2015 final 1/4 By Tina Morrison More >>
Japan's Maruha Nichiro buys 4.7% stake in Sanford
Tuesday, 8 March 2016, 9:00 am | BusinessDesk
March 8 (BusinessDesk) - Japanese food group Maruha Nichiro Corp has bought a 4.7 percent stake in local fishing company Sanford at a 7.6 percent discount in an off-market transaction with interests associated with Goodfellow family. More >>
Fonterra cuts forecast payout 25 cents to $3.90kg/MS
Tuesday, 8 March 2016, 8:57 am | BusinessDesk
March 8 (BusinessDesk) - Fonterra Cooperative Group cut its forecast payout to farmers for a second time this year, citing Europe's continuing supply for depressing global prices. More >>
NZ dollar falls vs. Aussie as Australian prospect shine
Tuesday, 8 March 2016, 8:31 am | BusinessDesk
March 8 (BusinessDesk) - The New Zealand dollar fell to a three-month low against the Australian dollar as investors bet it has better prospects for gains than the kiwi. More >>
While you were sleeping: Wall Street advances with oil
Tuesday, 8 March 2016, 7:34 am | BusinessDesk
March 8 (BusinessDesk) - US equities rose, bolstered by optimism about the economy and a recovery in oil prices, while Treasuries declined. More >>
MARKET CLOSE: NZ shares rise slightly to record high
Monday, 7 March 2016, 5:45 pm | BusinessDesk
MARKET CLOSE: NZ shares rise slightly to record high, Z Energy up while SkyCity falls More >>
Wheeler risks failure in trying to weaken kiwi dollar
Monday, 7 March 2016, 5:35 pm | BusinessDesk
March 7 (BusinessDesk) - Reserve Bank governor Graeme Wheeler achieved diminishing returns from cutting the official cash rate four times last year when the trade-weighted index stopped falling in September, putting a line under his ability to encourage ... More >>
Kiwi Regional considers crowdfunding $2 mln for new plane
Monday, 7 March 2016, 5:31 pm | BusinessDesk
March 7 (BusinessDesk) - Kiwi Regional Airlines is considering trying to raise $2 million to buy a second plane through crowdfunding. More >>
Dick Smith NZ creditors face big shortfall
Monday, 7 March 2016, 5:27 pm | BusinessDesk
March 7 (BusinessDesk) - The receivers’ first report on the failed Dick Smith Electronics NZ chain has estimated there’s likely to be a net loss of nearly $98 million to priority creditors even before the costs of selling assets are considered. More >>
NZ dollar dips from 2-month high
Monday, 7 March 2016, 5:25 pm | BusinessDesk
March 7 (BusinessDesk) - The New Zealand dollar slipped from a two-month high as falling US wages weighed on the greenback and a recovery in investor confidence stoked demand for risk-sensitive assets such as the kiwi. More >>
SFO ends Wynyard software contract one year early
Monday, 7 March 2016, 4:13 pm | BusinessDesk
March 7 (BusinessDesk) - The Serious Fraud Office has ended its three-year contract with Wynyard a year early because the software could not deal with some of its accounting documents. More >>
SFO ends Wynyard software contract one year early
Monday, 7 March 2016, 4:13 pm | BusinessDesk
March 7 (BusinessDesk) - The Serious Fraud Office has ended its three-year contract with Wynyard a year early because the software could not deal with some of its accounting documents. More >>
Walker: Five other countries interested in joining TPP deal
Monday, 7 March 2016, 3:33 pm | BusinessDesk
March 7 (BusinessDesk) - Five other countries have informally expressed interest in joining the Trans Pacific Partnership agreement once it has been ratified by the original 12 signatories, according to chief negotiator David Walker. More >>
No evidence of collusion in foreign exchange markets: ComCom
Monday, 7 March 2016, 3:08 pm | BusinessDesk
March 7 (BusinessDesk) - The Commerce Commission has finished looking into potential collusion among New Zealand's foreign exchange traders without unearthing any evidence that would warrant enforcement. More >>
NZ Dollar Outlook: Kiwi may gain as RBNZ seen on hold
Monday, 7 March 2016, 2:27 pm | BusinessDesk
NZ Dollar Outlook: Kiwi may gain as RBNZ seen keeping OCR attractive at 2.5% More >>
Liquidation of Serepisos' company winds up with $2M owing
Monday, 7 March 2016, 12:30 pm | BusinessDesk
March 7 (BusinessDesk) - The liquidators of former bankrupt Terry Serepisos's Century City group have completed their wash-up of the property development, retailing and sports management businesses with about $2 million owing to unsecured creditors, ... More >>
No clowning around in government's first TPP roadshow
Monday, 7 March 2016, 12:08 pm | BusinessDesk
March 7 (BusinessDesk) - The first of the government's 16 roadshows and huis around the country explaining detail on the Trans Pacific Partnership agreement has kicked off in Auckland with four protesters dressed as clowns being ousted from a meeting ... More >>
NZ wholesale trade dips in fourth quarter
Monday, 7 March 2016, 11:22 am | BusinessDesk
March 7 (BusinessDesk) - New Zealand wholesale trade dipped in the final three months of 2015 as a drop in sales of basic material products, such as metals, minerals and agriculture, helped snap two quarters of gains. More >>
