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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 668]
NZ wool auction volumes likely to drop 4.4% this season
Tuesday, 2 February 2016, 11:19 am | BusinessDesk
Feb. 2 (BusinessDesk) - New Zealand will have less wool changing hands at auction this year as the sheep flock declines and some areas are hit by drought. More >>
Augusta to buy A$23 mln industrial property in Brisbane
Tuesday, 2 February 2016, 11:12 am | BusinessDesk
Feb. 2 (BusinessDesk) - Augusta Capital, the listed property investor and fund manager, will buy a A$23 million industrial property in Brisbane, which it plans to put up for syndication. More >>
Motukawaiti Island sale probe fails to deliver suit
Tuesday, 2 February 2016, 10:40 am | BusinessDesk
Feb. 2 (BusinessDesk) - A five-year investigation into the sale of Motukawaiti Island near Northland's Matauri Bay failed to turn up enough evidence for the Overseas Investment Office to launch a prosecution. More >>
Fletcher Building buys roading contractor Higgins for $315M
Tuesday, 2 February 2016, 10:17 am | BusinessDesk
Feb. 2 (BusinessDesk) - Fletcher Building has paid $315 million for Higgins Group Holdings, New Zealand’s third-largest road construction and maintenance company, while separately announcing it will restructure into five divisions. More >>
NZ dollar gains on concerns about pace of US Fed rate hikes
Tuesday, 2 February 2016, 8:54 am | BusinessDesk
Feb. 2 (BusinessDesk) - The New Zealand dollar gained against US dollar weakness amid speculation the Federal Reserve may not hike rates as fast as previously expected. More >>
Full break-up may be best option for 'under-valued' Fletcher
Tuesday, 2 February 2016, 7:59 am | BusinessDesk
Full break-up may be best option for 'under-valued' Fletcher Building, given outlook for Australia, ROW More >>
While you were sleeping: Stocks fall on growth concern
Tuesday, 2 February 2016, 7:28 am | BusinessDesk
Feb. 2 (BusinessDesk) - Stocks on both sides of the Atlantic moved lower as disappointing economic data from the US and China fuelled concern about global growth. More >>
MARKET CLOSE: NZ shares rise, led by Kathmandu as sales rise
Monday, 1 February 2016, 5:56 pm | BusinessDesk
Feb. 1 (BusinessDesk) - New Zealand shares rose, led by Kathmandu Holdings after the retailer reported stronger first-half sales on improved margins. Australia & New Zealand Banking Group advanced, while A2 Milk Co and Genesis Energy dropped. More >>
NZ dollar gains vs. Aussie as Chinese manufacturing shrinks
Monday, 1 February 2016, 5:18 pm | BusinessDesk
Feb. 1 (BusinessDesk) - The New Zealand dollar gained against its trans-Tasman counterpart after Chinese manufacturing gauges showed industrial production in the world's second biggest economy was still shrinking last month, and ahead of the Reserve Bank of ... More >>
Govt to oppose appeal blocking $1.2B Auckland housing plan
Monday, 1 February 2016, 3:09 pm | BusinessDesk
Feb. 1 (BusinessDesk) - Environment Minister Nick Smith and Housing New Zealand have joined legal proceedings in support of Auckland Council and Fletcher Building opposing a bid by community groups to only allow low-rise housing in a $1.2 billion housing ... More >>
Fletcher Building says no issues with payments for PNG jobs
Monday, 1 February 2016, 3:06 pm | BusinessDesk
Feb. 1 (BusinessDesk) - Fletcher Building, which built the $170 million aquatic centre and stadium revamp for last year's Pacific Games in Port Moresby, says it has no issues with payments from the Papua New Guinea government and enjoys a good relationship ... More >>
NZ Dollar Outlook: Kiwi's fate this week in hands of RBNZ
Monday, 1 February 2016, 3:02 pm | BusinessDesk
Feb. 1 (BusinessDesk) - The New Zealand dollar's direction this week may be dictated by key Reserve Bank officials who will be setting the scene for the year with a series of forward-looking speeches. More >>
Banks hire Cameron Partners to look at Paymark
Monday, 1 February 2016, 1:53 pm | BusinessDesk
Feb. 1 (BusinessDesk) - New Zealand's four biggest lenders have hired investment bank Cameron Partners to run the ruler over electronic payments firm Paymark, which they jointly own. More >>
Kathmandu lifts first-half sales 9.1% with wider margins
Monday, 1 February 2016, 1:24 pm | BusinessDesk
Feb. 1 (BusinessDesk) - Kathmandu Holdings, the outdoor equipment chain that fended off a hostile takeover by Briscoe Group last year, lifted first-half profit 9.1 percent, on wider margins, and says it's on track to deliver annual profit of $30.2 million. ... More >>
Ryman to spend more than $200 mln on third Melbourne village
Monday, 1 February 2016, 1:12 pm | BusinessDesk
Feb. 1 (BusinessDesk) - Ryman Healthcare, which posted a 23 percent gain in first-half profit, will spend $200 million building its third retirement village in Melbourne as part of its planned expansion in Australia's second-biggest city. More >>
NZ honey exports soar 41% in 2015 to new record
Monday, 1 February 2016, 12:46 pm | BusinessDesk
Feb. 1 (BusinessDesk) - New Zealand honey exports soared 41 percent to a new record last year as the country benefited from demand for high-value manuka honey. More >>
NZ migration at record high in 2015 as fewer depart for Aust
Monday, 1 February 2016, 11:47 am | BusinessDesk
NZ migration at record high in 2015 as fewer depart for Australia, foreign students flood in More >>
Fonterra reviews governance
Monday, 1 February 2016, 11:37 am | BusinessDesk
Feb. 1 (BusinessDesk) - Fonterra Cooperative Group has kicked off a review of governance by posing the question of whether a board stacked with farmers has the right skills to drive a global business and whether milk suppliers in other countries should be ... More >>
Pyne Gould 2015 annual report delayed again, auditor blamed
Monday, 1 February 2016, 10:46 am | BusinessDesk
Feb. 1 (BusinessDesk) - Pyne Gould Corp, whose NZX-listed shares have been suspended from trading since October, will take even longer to file its 2015 annual report, blaming a disagreement between auditors for the latest delay. More >>
Synlait cuts forecast milk payout for this season to $4.20
Monday, 1 February 2016, 10:28 am | BusinessDesk
Feb. 1 (BusinessDesk) - Synlait Milk, the NZX-listed dairy company, cut its forecast milk payout for this season as global commodity prices stay lower for longer. More >>
