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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 662]
Contact sells Otahuhu power station site for $30 mln
Monday, 15 February 2016, 8:44 am | BusinessDesk
Feb. 15 (BusinessDesk) - Contact Energy has sold the site of its Otahuhu gas-fired power station to Auckland land developer Stonehill Property Trust for $30 million, following its closure last year. More >>
NZ dollar falls as US retail sales, oil gain buoy greenback
Monday, 15 February 2016, 8:41 am | BusinessDesk
Feb. 15 (BusinessDesk) - The New Zealand dollar fell after the greenback strengthened as investor optimism was boosted by a gain in US retail sales and higher oil prices. More >>
NZIER savages Wgtn runway extension in BARNZ submission
Monday, 15 February 2016, 8:17 am | BusinessDesk
Feb. 15 (BusinessDesk) - Analysis backing the proposed Wellington airport runway extension "grossly overstates" the benefits, understates the costs and is based on passenger projections that may be five times too high, according to two ... More >>
World Week Ahead: Battle for sentiment
Monday, 15 February 2016, 7:55 am | BusinessDesk
Feb. 15 (BusinessDesk) - A slew of US Federal Reserve speakers and minutes from the latest Fed policy meeting will jostle for attention in the coming days after Friday’s recovery rally in some of the most-battered stocks this year. More >>
Port Nicholson votes down Shelly Bay sale, citing SFO probe
Friday, 12 February 2016, 6:06 pm | BusinessDesk
Feb. 12 (BusinessDesk) - The Wellington Maori tribal investment vehicle, the Port Nicholson Block Settlement Trust, will not back a proposal to sell the old Shelley Bay defence base to local property developer Ian Cassells, following the failure ... More >>
MARKET CLOSE: NZ shares fall as global mood sours further
Friday, 12 February 2016, 5:54 pm | BusinessDesk
MARKET CLOSE: NZ shares fall as global mood sours further, Air NZ, Sky TV and Xero drop More >>
NZ dollar heads for 0.9% weekly gain
Friday, 12 February 2016, 5:19 pm | BusinessDesk
NZ dollar heads for 0.9% weekly gain as global fears see investors dump greenback More >>
Harmoney has $30 mln on hand as it steps up Australia launch
Friday, 12 February 2016, 4:49 pm | BusinessDesk
Harmoney has $30 mln on hand as it steps up Australia launch By Paul McBeth More >>
CORRECT: Innate Immunotherapeutics co-founder sues company
Friday, 12 February 2016, 4:40 pm | BusinessDesk
Feb. 12 (BusinessDesk) - The co-founder of ASX-listed Innate Immunotherapeutics is suing the New Zealand and Australian-based medical biotech company for royalties he claims are owed to him through the sale of patented products. More >>
RESEND: Vero faces bigger bill for Canterbury quakes
Friday, 12 February 2016, 3:49 pm | BusinessDesk
RESEND: Vero faces bigger bill for Canterbury quakes because of new over-cap EQC claims More >>
Vero faces bigger bill for Canterbury quakes
Friday, 12 February 2016, 3:12 pm | BusinessDesk
Feb. 12 (BusinessDesk) - Vero New Zealand, the general insurer owned by Australia's Suncorp Group, has increased its assessment of the likely cost from the series of Canterbury earthquakes by $123 million, largely because of new claims that exceed ... More >>
Spark's Revera wins IRD's data centre contract
Friday, 12 February 2016, 2:48 pm | BusinessDesk
Feb. 12 (BusinessDesk) - Spark New Zealand's Revera unit has been picked to supply the Inland Revenue Department's data centre services for the new tax system being developed under its business transformation programme. More >>
NZ wool prices hold firm even with China absent
Friday, 12 February 2016, 2:24 pm | BusinessDesk
Feb. 12 (BusinessDesk) - New Zealand wool prices held firm at auction even though buyers from China, the country's largest export market, were absent due to the Chinese Lunar New Year holiday this week. More >>
Union victory over Affco, court orders return to day shifts
Friday, 12 February 2016, 12:05 pm | BusinessDesk
Feb. 12 (BusinessDesk) - The Employment Court has ruled Affco must allow 200 Wairoa freezing workers to return to their jobs on the day shifts they would have had if the Talley's-owned meat processor hadn't illegally locked them out. More >>
Bluescope halves net value of NZ steel assets
Friday, 12 February 2016, 12:04 pm | BusinessDesk
Feb. 12 (BusinessDesk) - Australian steel maker Bluescope is to make a A$350 million write down on the value of its New Zealand Steel and Pacific Steel businesses, more than halving the net value of its kiwi assets as part of a A$570 million write down ... More >>
NZ food prices edge up in January
Friday, 12 February 2016, 11:27 am | BusinessDesk
Feb. 12 (BusinessDesk) - New Zealand food prices rose in January, snapping five months of falling prices, with fruit, vegetables, meat and milk all more expensive. More >>
Michael Hill posts 5.1% gain in 1H profit as Aust picks up
Friday, 12 February 2016, 9:38 am | BusinessDesk
Feb. 12 (BusinessDesk) - Michael Hill International, the listed jewellery retailer, increased first-half profit 5.1 percent as it improved its performance in its key Australian market and boosted margins in New Zealand and Canada. More >>
Godfreys hoovers up The Service Company for $2.7 mln
Friday, 12 February 2016, 9:27 am | BusinessDesk
Feb. 12 (BusinessDesk) - Australian vacuum cleaner firm Godfreys Group has bought New Zealand commercial cleaning firm The Service Company (TSC) for $2.7 million as it seeks to build up the business in a highly fragmented market. More >>
NZ dollar advances as higher yields lure investors
Friday, 12 February 2016, 8:38 am | BusinessDesk
Feb. 12 (BusinessDesk) - The New Zealand dollar advanced even amid fears of a global slowdown, as the country's higher relative interest rates lured investors. More >>
While you were sleeping: Stocks, Boeing sink
Friday, 12 February 2016, 7:28 am | BusinessDesk
Feb. 12 (BusinessDesk) - Equity markets slid amid renewed fears about global economic growth, bolstering the appeal of perceived safe-haven assets like US Treasuries and gold. More >>
