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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 65]
NZ dollar little changed after brief spike on Aussie jobs
Thursday, 16 May 2019, 9:09 pm | BusinessDesk
May 16 (BusinessDesk) - The New Zealand dollar ended the day little changed after spiking briefly against its Australian counterpart on mixed jobs data there. More >>
Wellington Airport lifts annual earnings on passenger growth
Thursday, 16 May 2019, 9:08 pm | BusinessDesk
May 16 (BusinessDesk) - Wellington International Airport lifted annual earnings 6.3 percent as the capital city's gateway continued to benefit from rising passenger numbers. More >>
Rangatira to up Magritek stake; seeks Hellers replacements
Thursday, 16 May 2019, 9:07 pm | BusinessDesk
May 16 (BusinessDesk) - Rangatira Investments plans to increase its holding in research technology business Magritek as it deploys funds from the sale of its interest in smallgoods maker Hellers. More >>
Synlait says Munchkin US FDA process on hold
Thursday, 16 May 2019, 5:34 pm | BusinessDesk
May 16 (BusinessDesk) - Synlait Milk said the registration process required to launch Munchkin Inc’s Grass Fed infant formula in the US has been put on hold to allow the company to look at other options. More >>
Kiwibank to ditch cheques in February 2020
Thursday, 16 May 2019, 5:25 pm | BusinessDesk
May 16 (BusinessDesk) - When Kiwibank CEO Steve Jurkovich stands up to address the Grey Power annual meeting next week, he might want to wear his bulletproof vest. More >>
Current milk season looks good but not record breaking
Thursday, 16 May 2019, 3:53 pm | BusinessDesk
May 16 (BusinessDesk) - With just over a fortnight to go, the country's current milk season looks to have been a good - but not stellar - year for processors as dry weather at the tail end crimped production. More >>
ComCom says 5G build excluding Huawei could cost more
Thursday, 16 May 2019, 3:32 pm | BusinessDesk
May 16 (BusinessDesk) - Excluding Chinese telecommunications firm Huawei Technologies risks driving up the cost of building a 5G mobile network and undermining competition in its development, according to a draft mobile market study. More >>
Xero reports positive free cash flow for 2019, loses $27.1M
Thursday, 16 May 2019, 1:50 pm | BusinessDesk
May 16 (BusinessDesk) - Accounting software company Xero widened its annual loss while growing operating revenue 36 percent and subscriber numbers by 31 percent. More >>
Rakon lifts annual earnings 10% on growing demand
Thursday, 16 May 2019, 1:36 pm | BusinessDesk
May 16 (BusinessDesk) - High-tech components maker Rakon lifted full-year earnings 10 percent, meeting guidance, as 4.5/5G telecommunications infrastructure demand continues to grow. But profits were down on last year and debt soared. More >>
Tourism set to grow 4% annually to 2025
Thursday, 16 May 2019, 1:22 pm | BusinessDesk
May 16 (BusinessDesk) - International tourist arrivals in New Zealand should grow 4 percent a year between now and 2025 and reach 5.1 million visitors in 2025. More >>
Goodman NZ collects first performance fee in 10 years
Thursday, 16 May 2019, 11:21 am | BusinessDesk
May 16 (BusinessDesk) - Goodman Property Trust’s manager is pocketing an $8.6 million performance fee for the year ended March, the first time Goodman NZ has earned a performance fee in 10 years. More >>
NZ dollar under pressure as markets fret about slowdown
Thursday, 16 May 2019, 11:01 am | BusinessDesk
May 16 (BusinessDesk) - The New Zealand dollar remained range-bound as weak data in both China and the US and continuing trade tensions increase fears of a global slowdown. More >>
Infratil’s Vodafone play may shake up telco structure
Thursday, 16 May 2019, 10:26 am | BusinessDesk
May 16 (BusinessDesk) - Infratil’s billion-dollar play for Vodafone New Zealand is set to change the way telecommunications firms invest in national infrastructure. More >>
MARKET CLOSE: NZ shares outperform global rally
Wednesday, 15 May 2019, 8:48 pm | BusinessDesk
May 15 (BusinessDesk) - New Zealand shares joined a global rally, as the local outlook for low interest rates added tailwind to broader optimism among investors that the US and China will compromise on their trade stoush. China-focused exporter A2 Milk ... More >>
NZ dollar down on weak Chinese data
Wednesday, 15 May 2019, 8:46 pm | BusinessDesk
May 15 (BusinessDesk) - The New Zealand dollar eased a little as weaker than expected data from China added to market concern about the China-US trade stoush. More >>
OMV says gas disclosure expectations may be unrealistic
Wednesday, 15 May 2019, 6:44 pm | BusinessDesk
May 15 (BusinessDesk) - OMV says it supports greater disclosure of outages in the gas sector but is concerned some players may have unrealistic expectations of new rules intended to make that happen. More >>
RBNZ's poor policy process puts its credibility at risk
Wednesday, 15 May 2019, 3:57 pm | BusinessDesk
May 15 (BusinessDesk) - The Reserve Bank’s third discussion paper on its bank capital proposals points to a lack of robust policy process, is an embarrassment to New Zealand and undermines the central bank’s credibility, according to a former ... More >>
FNZC trims Infratil's target price on $3.4B Vodafone deal
Wednesday, 15 May 2019, 1:45 pm | BusinessDesk
May 15 (BusinessDesk) - First NZ Capital has lowered its target price for Infratil shares after the infrastructure investor flagged plans to make a $1.03 billion investment in Vodafone New Zealand. More >>
Do regulators need yet another hurry up on disclosure rules?
Wednesday, 15 May 2019, 12:52 pm | BusinessDesk
May 15 (BusinessDesk) - Disclosure lies at the heart of New Zealand’s corporate regulatory systems but the regulators themselves have greatly undermined that principle more than once. More >>
Goodman Property profit jumps 64.7%
Wednesday, 15 May 2019, 12:47 pm | BusinessDesk
May 15 (BusinessDesk) - Goodman Property Trust lifted annual statutory net profit 64.7 percent, boosted by big valuation gains and as its manager sold assets and developed new ones to create a pure Auckland industrial property portfolio. More >>
