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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 663]
South Port NZ 1H profit jumps, unexpected lift in tonnage
Thursday, 11 February 2016, 5:53 pm | BusinessDesk
Feb. 11 (BusinessDesk) - New Zealand's southern-most deep water port, South Port New Zealand, saw profits increase by 54 percent in the six months to the end of December 2015 to $5.06 million, despite worries about the global economy. More >>
MARKET CLOSE: NZ shares fall on SkyCity outlook
Thursday, 11 February 2016, 5:47 pm | BusinessDesk
Feb. 11 (BusinessDesk) - New Zealand shares fell after SkyCity Entertainment Group, the first to post results this earnings season, reported a gain in first-half profit but left some investors underwhelmed with its outlook. Xero and Mighty River Power ... More >>
NZ dollar gains on greenback weakness driven by US rates
Thursday, 11 February 2016, 5:46 pm | BusinessDesk
Feb. 11 (BusinessDesk) - The New Zealand dollar gained against a broadly weaker greenback on concerns the US economy may not be growing as fast as expected and the track for Federal Reserve interest rate hikes will be slower and lower. More >>
Solid Energy in better shape than $1 Aussie coal miner: CEO
Thursday, 11 February 2016, 5:32 pm | BusinessDesk
Solid Energy in better position than sold-for-a-dollar Aussie coal mine, CEO Clifford says More >>
UPDATE: Shareholders Association fights Wynyard 'black hole'
Thursday, 11 February 2016, 5:10 pm | BusinessDesk
Feb. 11 (BusinessDesk) - The New Zealand Shareholders Association says it will oppose security software developer Wynyard's plans to sell new shares below a previously announced price floor of $2 a share when a meeting of investors is held next week. More >>
Shareholders Association to oppose Wynyard 'black hole'
Thursday, 11 February 2016, 3:59 pm | BusinessDesk
Feb. 11 (BusinessDesk) - The New Zealand Shareholders Association says it will oppose security software developer Wynyard's plans to sell new shares below a previously announced price floor of $2 a share when a meeting of investors is held next week. More >>
Labour challenges regulator on credit card surcharges
Thursday, 11 February 2016, 2:46 pm | BusinessDesk
Feb. 11 (BusinessDesk) - Labour Party MPs challenged the chair and senior managers of the Commerce Commission to be "more proactive" in their pursuit of consumer issues, with MP Clayton Cosgrove highlighting what he said were uncompetitive surcharges ... More >>
NZ services offsetting lower commodity prices, says Moody's
Thursday, 11 February 2016, 2:43 pm | BusinessDesk
Feb. 11 (BusinessDesk) - Moody's Investors Service is comfortable with its Aaa credit rating on New Zealand with a stable outlook, as it anticipates the impact from lower commodity prices will be offset by strength in areas of the economy such as tourism ... More >>
CORRECT: Auckland house sales fall in January
Thursday, 11 February 2016, 2:10 pm | BusinessDesk
Feb. 11 (BusinessDesk) - The steam continued to come out of the Auckland property market in January, being the only region to report a drop in house sales and a further slowing in annual price inflation as regulatory curbs dim demand in the country's ... More >>
Telcos earning too little on big investment: Spark's Moutter
Thursday, 11 February 2016, 2:03 pm | BusinessDesk
Feb. 11 (BusinessDesk) - Investment in the telecommunications sector has hit $1.7 billion annually but could shrink in future if returns don’t rise, warns Spark New Zealand chief executive Simon Moutter. More >>
Auckland house sale fall in Jan, annual price rise under 10%
Thursday, 11 February 2016, 1:49 pm | BusinessDesk
Feb. 11 (BusinessDesk) - The steam continued to come out of the Auckland property market in January, being the only region to report a drop in house sales and a further slowing in annual price inflation as regulatory curbs dim demand in the country's ... More >>
Suncorp's general NZ business posts 21% drop in 1H profit
Thursday, 11 February 2016, 12:33 pm | BusinessDesk
Suncorp's general NZ business posts 21% drop in first-half profit as claims rise More >>
SkyCity first half profit rises 30%, helped by high rollers
Thursday, 11 February 2016, 12:21 pm | BusinessDesk
Update:SkyCity first half profit rises 30%, helped by high rollers Feb. 11 (BusinessDesk) - SkyCity Entertainment Group, which has four casinos in New Zealand and two in Australia, posted a 30 percent gain in first-half profit, citing improvements across all its ... More >>
Upsurge in demand for UFB leads to technician shortage
Thursday, 11 February 2016, 11:51 am | BusinessDesk
Feb. 11 (BusinessDesk) - A record upsurge in demand for ultrafast broadband connections since Christmas is exacerbating a shortage of technicians to do the work, say fibre companies. More >>
NZ accommodation extends run of gains in December
Thursday, 11 February 2016, 11:43 am | BusinessDesk
Feb. 11 (BusinessDesk) - New Zealand's accommodation providers extended their run of rising guest nights in December as both domestic and international travellers boosted tourism. More >>
NZ manufacturing activity continues to rise in January
Thursday, 11 February 2016, 11:27 am | BusinessDesk
Feb. 11 (BusinessDesk) - New Zealand manufacturing activity rose to a 15-month high in January, with an uptick in production and employment pointing to further improvements ahead, though not across all industries. More >>
Tower to cut product lines in bid to cut costs
Thursday, 11 February 2016, 10:51 am | BusinessDesk
Feb. 11 (BusinessDesk) - Tower, which posted an annual loss last year on ballooning costs from the Canterbury earthquakes, plans to whittle down the number of products it offers customers and clamp down on costs in a bid to sharpen up the business. More >>
FIRST CUT: SkyCity first-half profit rises 30%
Thursday, 11 February 2016, 10:00 am | BusinessDesk
Feb. 11 (BusinessDesk) - SkyCity Entertainment Group, New Zealand's only listed casino company, posted a 30 percent gain in first-half profit, citing improvements across all its properties and lower funding costs. More >>
Intueri suspends dividends on TEC review
Thursday, 11 February 2016, 9:44 am | BusinessDesk
Feb. 11 (BusinessDesk) - Intueri Education Group, the private training college under investigation by the Serious Fraud Office, has suspended dividends pending the review by the Tertiary Education Commission funding agency, and says 2015 earnings met its ... More >>
Ports of Auckland buys Waikato land for new freight hub
Thursday, 11 February 2016, 9:22 am | BusinessDesk
Feb. 11 (BusinessDesk) - Ports of Auckland, the country's second-largest by volume, has agreed to buy a plot of land north of Hamilton to develop a freight hub, which it says will complete its network across the North Island. More >>
