Scoop has an Ethical Paywall
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 661]
MARKET CLOSE: NZ stocks rise as Nuplex, Diligent takeovers
Monday, 15 February 2016, 5:38 pm | BusinessDesk
Feb. 15 (BusinessDesk) - New Zealand stocks rose as Nuplex Industries and Diligent Corp soared following takeover offers, after more positive global leads. More >>
Broker warns average dairy farmer may lose $140k this season
Monday, 15 February 2016, 5:37 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Financial broker OMF is warning the average New Zealand dairy farmer is likely to lose $140,760 this season, with next year looking just as grim. More >>
NZ dollar gains v yen,greenback as China marks modest return
Monday, 15 February 2016, 5:32 pm | BusinessDesk
Feb. 15 (BusinessDesk) - The New Zealand dollar gained against the yen and the greenback as China's markets reopened after the Chinese New Year holiday without a big selloff in stocks that some had feared. More >>
Further senior management promotions at ANZ's NZ division
Monday, 15 February 2016, 4:15 pm | BusinessDesk
Feb. 15 (BusinessDesk) - There has been a further senior management reshuffle at Australia & New Zealand Banking Group's local division. More >>
Allnex wanted certainty of scheme of arrangement with Nuplex
Monday, 15 February 2016, 4:08 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Allnex Belgium SA was willing to offer such a large premium to take over Nuplex Industries in part because of the certainty provided by a scheme of arrangement as opposed to a conventional takeover, says chairman Peter Springford. More >>
NZ Dollar Outlook: Analysts split on kiwi direction
Monday, 15 February 2016, 2:47 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Analysts are split on the direction of the New Zealand dollar this week as they weigh whether local data is likely to prompt Reserve Bank governor Graeme Wheeler to keep interest rates on hold or lean towards future cuts. More >>
Peter Neilson leaves as head of Financial Services Council
Monday, 15 February 2016, 2:46 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Former Labour cabinet minister Peter Neilson is stepping down as chief executive of the Financial Services Council, the lobby group representing the KiwiSaver and personal risk insurance industries, amid a review of how the sector ... More >>
Corrections fight club report said to ignore earlier probes
Monday, 15 February 2016, 2:17 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Serco New Zealand is challenging the findings of a Department of Corrections report into organised fighting at Mount Eden Correctional Facility, claiming the investigation ignored two earlier probes into violence across the nation's ... More >>
Wellington airport hits back at NZIER runway critique
Monday, 15 February 2016, 12:03 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Wellington International Airport has hit back at analysis of its runway extension project by the New Zealand Institute of Economic Research, saying the critique for airlines opposing the $300 million project has overstated ... More >>
UPDATE: Diligent shares soar 26% after takeover offer
Monday, 15 February 2016, 11:31 am | BusinessDesk
Feb. 15 (BusinessDesk) - Shares in New York-based and NZX-listed Diligent Corp soared , and are currently up 26 percent, after news it's being acquired by venture capital firm Insight Venture Partners in a deal that values the governance software developer ... More >>
NZ services sector activity falls for a second month
Monday, 15 February 2016, 11:29 am | BusinessDesk
Feb. 15 (BusinessDesk) - New Zealand's services sector, which accounts for about two-thirds of the economy, slowed in January, with retail trade dropping. More >>
UPDATE: Allnex Belgium makes 'attractive' bid for Nuplex
Monday, 15 February 2016, 10:56 am | BusinessDesk
Feb. 15 (BusinessDesk) - Allnex Belgium SA has proposed buying Nuplex Industries via a scheme of arrangement at a 44 percent premium to the New Zealand company's recent trading price, to create one of the world's largest makers of coating resins. More >>
Queenstown Airport boosts 1H profit 31%
Monday, 15 February 2016, 10:48 am | BusinessDesk
Feb. 15 (BusinessDesk) - Queenstown Airport lifted first-half profit 31 percent as domestic and international passenger numbers grew. More >>
BNZ gives $50,000 support to Kiwi startups targeting US
Monday, 15 February 2016, 10:48 am | BusinessDesk
Feb. 15 (BusinessDesk) - Four Kiwi startups are in Silicon Valley for a month in a new initiative with Kiwi Landing Pad in the US. More >>
Contact maintains dividend despite first-half loss
Monday, 15 February 2016, 10:37 am | BusinessDesk
Feb. 15 (BusinessDesk) - Contact Energy will pay an unchanged 11 cents per share interim dividend thanks to a 24 percent improvement in free cash flow, even though the electricity generator and retailer turned to a first-half loss of $116 million, ... More >>
Property For Industry boosts full-year profit 21%
Monday, 15 February 2016, 10:13 am | BusinessDesk
Feb. 15 (BusinessDesk) - Property For Industry, the listed industrial property investor, increased annual profit 21 percent with an uplift in the value of investment properties strengthening the balance sheet. More >>
Buyout firm offers 31% premium to acquire Diligent
Monday, 15 February 2016, 9:44 am | BusinessDesk
Feb. 15 (BusinessDesk) - New York-based and NZX-listed Diligent Corp is being acquired by venture capital firm Insight Venture Partners in a deal that values the governance software developer at $941 million. More >>
Allnex Belgium makes 'attractive' proposal to buy Nuplex
Monday, 15 February 2016, 9:22 am | BusinessDesk
Feb. 15 (BusinessDesk) - Allnex Belgium SA has proposed buying Nuplex Industries via a scheme of arrangement at a 44 percent premium to the New Zealand company's recent trading price, to create one of the world's largest makers of coating resins. More >>
Summerset acquires land for second Hamilton village
Monday, 15 February 2016, 9:20 am | BusinessDesk
Feb. 15 (BusinessDesk) - Summerset Group plans to build a second retirement village in Hamilton after buying a 6.3 hectare site north of the city. More >>
FIRST CUT: Contact Energy reports $116M half year loss
Monday, 15 February 2016, 8:51 am | BusinessDesk
Feb. 14 (BusinessDesk) - Electricity generator and retailer Contact Energy announced a $116 million net loss in the six months to Dec. 31, as it booked write downs of $257 million on its Otahuhu B power plant, which it closed last year, and a decision ... More >>
