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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 659]
Immigrants' attitudes to corruption worries SFO
Wednesday, 17 February 2016, 3:19 pm | BusinessDesk
Feb. 17 (BusinessDesk) - New Zealand's record inbound migration has undermined the country's squeaky-clean reputation because of an inflow of people from countries where corrupt practices are the norm, according to the Serious Fraud Office. More >>
TeamTalk shares jump 22% as first-half earnings rebound
Wednesday, 17 February 2016, 3:09 pm | BusinessDesk
Feb. 17 (BusinessDesk) - TeamTalk shares jumped 22 percent after the listed telecommunications firm's first-half profit rebounded from a year earlier when it wrote down the value of its Farmside broadband services unit. It sees further gains in the second half. More >>
Living Cell raises A$2.8 mln for Parkinson's clinical trial
Wednesday, 17 February 2016, 1:49 pm | BusinessDesk
Living Cell raises A$2.8 mln for Parkinson's clinical trial By Paul McBeth More >>
IAG's NZ profit slumps on doubled reinsurance costs
Wednesday, 17 February 2016, 12:29 pm | BusinessDesk
Feb. 17 (BusinessDesk) - Insurance Australia Group's New Zealand division posted a 94 percent drop in first-half earnings as reinsurance costs more than doubled from an arrangement entered into with Warren Buffett's Berkshire Hathaway. More >>
Ombudsman to investigate EPA's charging in Chatham Rock case
Wednesday, 17 February 2016, 12:26 pm | BusinessDesk
Feb. 17 (BusinessDesk) - Chatham Rock Phosphate has succeeded in persuading the Office of the Ombudsman to investigate the Environmental Protection Authority's charging regime for marine consent applications as it battles over its rejected plans to mine ... More >>
Wynyard cancels planned share placement, considers options
Wednesday, 17 February 2016, 11:47 am | BusinessDesk
Feb. 17 (BusinessDesk) - Wynyard Group has cancelled a planned share placement and special shareholders' meeting tomorrow, saying it is no longer viable and other capital raising options including a rights offer are being considered. More >>
UPDATE: Fletcher 1H profit underpinned by building supplies
Wednesday, 17 February 2016, 11:16 am | BusinessDesk
Feb. 17 (BusinessDesk) - Fletcher Building, the listed building supplies and construction group, posted a 51 percent gain in first-half profit, with growth in its newly aligned building products and distribution units making up for weaker earnings from Formica ... More >>
A2 Milk shares soar to a record after jump in 1H profit
Wednesday, 17 February 2016, 10:51 am | BusinessDesk
Feb. 17 (BusinessDesk) - A2 Milk shares soared to a record after the specialty milk marketer boosted first-half profit and raised its estimate for full-year earnings on a surge in demand for its infant formula in Australia, New Zealand, and China. More >>
ANZ's local unit posts 6% profit drop on skinnier margins
Wednesday, 17 February 2016, 10:45 am | BusinessDesk
Feb. 17 (BusinessDesk) - Australia & New Zealand Banking Group's kiwi unit reported a 6 percent fall in first-quarter profit as tight lending competition ate into margins, even as it grabbed a bigger slice of the market. More >>
ANZ's local unit posts 6% profit drop on skinnier margins
Wednesday, 17 February 2016, 10:45 am | BusinessDesk
Feb. 17 (BusinessDesk) - Australia & New Zealand Banking Group's kiwi unit reported a 6 percent fall in first-quarter profit as tight lending competition ate into margins, even as it grabbed a bigger slice of the market. More >>
Precinct Properties lifts profit as it reorients to Auckland
Wednesday, 17 February 2016, 10:18 am | BusinessDesk
Feb. 17 (BusinessDesk) - Precinct Properties New Zealand, the listed commercial property investor, lifted profit 10 percent, having cut interest costs after paying off debt by selling assets, though that pushed revenue lower. More >>
Wynyard shares halted on NZX pending company announcement
Wednesday, 17 February 2016, 10:14 am | BusinessDesk
Feb. 17 (BusinessDesk) - Wynyard Group had its shares halted on the New Zealand stock exchange this morning pending an announcement by the software development company. More >>
FIRST CUT: Fletcher Building H1 profit rises 51%
Wednesday, 17 February 2016, 9:41 am | BusinessDesk
FIRST CUT: Fletcher Building first-half profit rises 51% on impact of one-time items, revenue gains 2% More >>
Trade Me first-half profit little changed, outlook brightens
Wednesday, 17 February 2016, 9:37 am | BusinessDesk
Feb. 17 (BusinessDesk) - Trade Me Group's first-half profit was largely unchanged from the year earlier, although New Zealand's largest online auction site signalled earnings should pick up in the future as it emerges from a period of higher investment. More >>
Air NZ appeals on pilot union's contract claim
Wednesday, 17 February 2016, 9:32 am | BusinessDesk
Feb. 17 (BusinessDesk) - Air New Zealand is appealing an Employment Court decision which it says lets the country's largest pilots' union cherry-pick the good parts of other collective employment agreements without having to accept the bad. More >>
Blackstone buys Lendlease's NZ retirement village portfolio
Wednesday, 17 February 2016, 8:45 am | BusinessDesk
Feb. 17 (BusinessDesk) - US private equity firm Blackstone Group LP has bought Lendlease Group's portfolio of five retirement villages in New Zealand for an undisclosed sum. More >>
NZ dollar hits 2-week low after weak inflation outlook, GDT
Wednesday, 17 February 2016, 8:32 am | BusinessDesk
Feb. 17 (BusinessDesk) - The New Zealand dollar fell to a two-week low as a weak outlook for inflation and low dairy prices stoked speculation of further interest rate cuts. More >>
MARKET CLOSE: NZ shares rise with global rally on China, ECB
Tuesday, 16 February 2016, 5:48 pm | BusinessDesk
MARKET CLOSE: NZ shares rise with global rally on China, ECB; A2, Xero, Summerset gain More >>
Fairfax plans to axe 70 sub-editors, mainly in Wellington
Tuesday, 16 February 2016, 5:34 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Fairfax Media is planning to eliminate 70 New Zealand jobs, mainly in Wellington, and outsource editorial production on Australian metro mastheads to Pagemasters in a move that would cut costs and end a strategy of processing Australian ... More >>
Foley Family Wines profit up on export jump to US
Tuesday, 16 February 2016, 5:27 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Foley Family Wines, the NZAX-listed company majority owned by US businessman Bill Foley, says profits rose sharply in the six months through December, mainly driven by a jump in exports to the United States. The company operates ... More >>
