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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 660]
NZ dollar drops on lowest inflation expectations since 1994
Tuesday, 16 February 2016, 5:18 pm | BusinessDesk
Feb. 16 (BusinessDesk) - The New Zealand dollar fell as firms' inflation expectations fell to the lowest level in more than two decades, stoking speculation the Reserve Bank may have to cut interest rates. More >>
All Black underwear sponsorship with Jockey boosts sales 5%
Tuesday, 16 February 2016, 4:25 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Letting consumers watch toned rugby players parade around in their underwear appears to have paid off for Australia's Pacific Brands, which says its second year of Jockey sponsoring the All Blacks has proved a “great fit”. More >>
Zespri makes Psa resistant Gold3 kiwifruit focus of strategy
Tuesday, 16 February 2016, 4:05 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Zespri International, the kiwifruit marketer and exporter, has put the new Gold3 variety at the centre of its five-year plan and intends to make a major marketing push to cement it as a premium product selling for 20-to-40 ... More >>
NZ inflation expectations slump to lowest level since 1994
Tuesday, 16 February 2016, 3:57 pm | BusinessDesk
Feb. 16 (BusinessDesk) - New Zealanders' perceptions of inflation have become even more subdued, adding to the case for a further interest rate cut by the Reserve Bank. More >>
Opus annual profit drops 36% on Canadian unit writedown
Tuesday, 16 February 2016, 3:32 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Opus International Consultants, the listed engineering firm, posted a 36 percent drop in annual profit as it wrote down the value of its Canadian business, while fattening its dividend to shareholders as underlying earnings beat ... More >>
Vista says no explanation for share price drop
Tuesday, 16 February 2016, 3:14 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Vista International Group, whose software technology manages cinema operations worldwide, has told share-market operator NZX it has no explanation for a 27 percent decline in its shares since early January. More >>
Govt has room to shift spending over next two years: English
Tuesday, 16 February 2016, 2:48 pm | BusinessDesk
Feb. 16 (BusinessDesk) - The government has scope to play with the timing of an extra $3.5 billion of spending tagged for the next two years if the global economy deteriorates and starts to bite locally, says Finance Minister Bill English. More >>
Open Country Dairy posts record annual profit in 2015
Tuesday, 16 February 2016, 2:00 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Open Country Dairy, the dairy manufacturer controlled by Talley's Group, posted a record annual profit last year even as revenue fell. More >>
Tenon triples profit on US housing recovery
Tuesday, 16 February 2016, 1:52 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Tenon, the Taupo-based wood processing, marketing and distribution company, has tripled first-half net profit mainly due to an improving US economy driving a recovery in the American housing market. More >>
English sets May 26 for NZ's annual budget
Tuesday, 16 February 2016, 12:14 pm | BusinessDesk
Feb. 16 (BusinessDesk) - The government will deliver its annual budget statement on Thursday, May 26, Finance Minister Bill English has announced. More >>
Pacific Brands returns to profit, reinstates dividend
Tuesday, 16 February 2016, 12:04 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Pacific Brands, owner of the Sheridan, Bonds, Berlei, Tontine and Dunlop Flooring brands, returned to profit in its first half and reinstated dividends with a payout ratio of 60 percent. More >>
Tourism and housing boosted retail sales in 2015 final 1/4
Tuesday, 16 February 2016, 12:01 pm | BusinessDesk
Feb. 16 (BusinessDesk) - New Zealand retail sales volumes increased in the final quarter of 2015, led by housing and tourism activity. More >>
OMV farms out 30% of deep-sea Pegasus oil licence to Statoil
Tuesday, 16 February 2016, 11:43 am | BusinessDesk
Feb. 16 (BusinessDesk) - Austrian oil and gas producer OMV's New Zealand arm is to farm out 30 percent of its interest in the deep-sea Pegasus Basin, off the east coast of the lower North Island, to the Norwegian state oil company, Statoil. More >>
Broadspectrum doubts timely NZ OIO ruling on Ferrovial bid
Tuesday, 16 February 2016, 11:40 am | BusinessDesk
Feb. 16 (BusinessDesk) - Broadspectrum, the Australian infrastructure services firm formerly known as Transfield Services, says a hostile offer for the company from Spain's Ferrovial is likely to lapse next month because New Zealand's Overseas Investment ... More >>
Landcorp won't renew sharemilking contract with SP in 2017
Tuesday, 16 February 2016, 9:51 am | BusinessDesk
Feb. 16 (BusinessDesk) - Landcorp, the state-owned farming company, will end its five-year relationship with Shanghai Pengxin next year, saying it wants to focus on other areas of growth and won't renew its sharemilking contract. More >>
Westpac to pay $4M to customers it overcharged
Tuesday, 16 February 2016, 9:29 am | BusinessDesk
Feb. 16 (BusinessDesk) - Westpac Banking Corp's New Zealand unit will pay more than $4 million in compensation after overcharging customers who used debit cards to withdraw cash from its ATM machines in Australia. More >>
NZOG chairman Peter Griffiths steps down unexpectedly
Tuesday, 16 February 2016, 9:26 am | BusinessDesk
Feb. 16 (BusinessDesk) - New Zealand Oil & Gas chairman Peter Griffiths has unexpectedly resigned from the board for personal reasons, effective immediately, and has been replaced by his deputy, Roger Finlay. More >>
NZ dollar gains vs. euro after Draghi hints at stimulus
Tuesday, 16 February 2016, 8:45 am | BusinessDesk
NZ dollar gains vs. euro after ECB's Draghi hints at potential for more stimulus More >>
While you were sleeping: Central banks lift mood, stocks
Tuesday, 16 February 2016, 7:30 am | BusinessDesk
Feb. 16 (BusinessDesk) - European equities, notably bank stocks, climbed as European Central Bank President Mario Draghi said the central bank would “not hesitate to act” if needed because of “the recent financial turmoil.” More >>
Serco suggests more legal claims to come over fight club
Monday, 15 February 2016, 6:03 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Serco New Zealand indicated more litigation is on the cards though not relating to a Department of Corrections report into organised fighting at Mount Eden Correctional Facility, which the private prison operator is trying ... More >>
