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 676]
NZX seen having sluggish IPO pipeline in 2016
Monday, 18 January 2016, 11:36 am | BusinessDesk
Jan. 18 (BusinessDesk) - New Zealand's share market is expected to struggle for new initial public offerings in 2016 without the impetus of a privatisation programme, which is whetting appetites across the Tasman. More >>
Gary Romano resigns local directorships with Pengxin
Monday, 18 January 2016, 11:32 am | BusinessDesk
Jan. 18 (BusinessDesk) - Gary Romano, the face of Chinese group Shanghai Pengxin in New Zealand, has resigned his local directorships with the dairy investor after its bid to buy Lochinver Station was knocked back by the government. More >>
NZX 50 sinks to month-low as Wall St rout spooks investors
Monday, 18 January 2016, 11:31 am | BusinessDesk
Jan. 18 (BusinessDesk) - New Zealand's shares fell to their lowest level in a month as trading opened for the week after a rout on Wall Street triggered a sell-off by local investors nervous about the impact of cheap oil and a slowing Chinese economy. More >>
NZ employment confidence improves in 4th quarter
Monday, 18 January 2016, 10:36 am | BusinessDesk
Jan. 18 (BusinessDesk) - New Zealand workers became more optimistic about their job prospects in the December quarter, with employees feeling more secure and expecting future pay rises. However, confidence remained well down on sentiment a year earlier ... More >>
NZ dollar dips then rebounds as Aussie falls out of favour
Monday, 18 January 2016, 8:43 am | BusinessDesk
Jan. 18 (BusinessDesk) - The New Zealand dollar dipped to multi-month lows, then rebounded, as traders favoured the kiwi over the Aussie, on expectations Australia will be hit harder by a slowing Chinese economy and sluggish commodity prices. More >>
World Week Ahead: Global outlook doubts
Monday, 18 January 2016, 7:27 am | BusinessDesk
Jan. 18 (BusinessDesk) - The second week of 2016 fared not much better than the first for global equities and downside risks remain high as oil’s continuing rout hammered Wall Street on Friday, mirroring losses in China and then Europe. More >>
MARKET CLOSE: NZ shares rise as global markets stabilise
Friday, 15 January 2016, 5:44 pm | BusinessDesk
Jan. 15 (BusinessDesk) - New Zealand shares rose after some stability returned to global markets, though news remains scarce ahead of reporting season. Spark New Zealand, Sky Network Television, and Fletcher Building gained. More >>
NZ dollar heads for 1.6% weekly fall as commodity prices sag
Friday, 15 January 2016, 5:12 pm | BusinessDesk
NZ dollar heads for 1.6% weekly fall as commodity prices sag, investors stay gloomy More >>
NZ wool prices mixed amid larger volumes, weaker currency
Friday, 15 January 2016, 3:58 pm | BusinessDesk
Jan. 15 (BusinessDesk) - New Zealand wool prices were mixed at the latest weekly auctions as larger volumes during a seasonal peak offset some of the benefits of a weaker currency. More >>
Bethunes shareholders agree to sell Webb's auction house
Friday, 15 January 2016, 3:07 pm | BusinessDesk
Jan. 15 (BusinessDesk) - Shareholders in Bethunes Investments, formerly known as Mowbray Collectables, have agreed to sell its Webb's auction house for $800,000 to Australia's Mossgreen. More >>
Virgin Australia unlikely to make significant capital return
Friday, 15 January 2016, 1:57 pm | BusinessDesk
Jan. 15 (BusinessDesk) - Virgin Australia, Australia’s second-largest domestic airline, is unlikely to make significant capital returns to shareholders but the threat of a mop-up by the three airlines holding a combined 73 percent stake provides ... More >>
Z Energy pushes for broader company reporting
Friday, 15 January 2016, 1:37 pm | BusinessDesk
Jan. 15 (BusinessDesk) - Z Energy, the petrol station chain seeking to takeover rival Chevron New Zealand's brands, wants more indepth company reporting on non-financial measures including workplace safety, and more fulsome executive pay disclosure, which ... More >>
Weak oil, food prices weigh on RBNZ's inflation forecast
Friday, 15 January 2016, 1:01 pm | BusinessDesk
Jan. 15 (BusinessDesk) - Crude oil prices have dropped by about a fifth since the Reserve Bank's monetary policy statement on Dec. 10, and figures today showed weaker food prices, casting doubt on the bank's projection for a rebound in inflation in ... More >>
NZ food prices fall for 5th month in December, chicken leads
Friday, 15 January 2016, 11:22 am | BusinessDesk
Jan. 15 (BusinessDesk) - New Zealand food prices fell for a fifth month in December, as the cheapest chicken since 2008 and lower prices for other meat and fish led the index lower, and prompted at least one local bank to revise down its forecast for ... More >>
Oji's Pan Pac forestry unit to invest $23M to expand Milburn
Friday, 15 January 2016, 11:11 am | BusinessDesk
Jan. 15 (BusinessDesk) - The New Zealand forestry unit of Japan's Oji Group plans to invest $23 million to consolidate and expand capacity at its sawmilling and drying facilities in Otago. More >>
Auckland house price growth may moderate in 2016, Fitch says
Friday, 15 January 2016, 9:36 am | BusinessDesk
Jan. 15 (BusinessDesk) - Auckland house prices are expected to rise at more modest levels in 2016 as lending curbs for investors in New Zealand's biggest city offset likely declines in mortgage rates, according to rating agency Fitch Ratings. More >>
Mangawhai Developments back in receivership
Friday, 15 January 2016, 8:51 am | BusinessDesk
Jan. 15 (BusinessDesk) - Mangawhai Developments, the developer of a lifestyle subdivision north of Auckland that failed in 2009, has been put in receivership a second time after the original secured creditor, Doug Somers-Edgar, sold the debt to two of the ... More >>
NZ dollar drops to three-month low as investors remain wary
Friday, 15 January 2016, 8:46 am | BusinessDesk
Jan. 15 (BusinessDesk) - The New Zealand dollar fell to its lowest level in more than three months even as some optimism returned to financial markets, as investors remained wary about the outlook. More >>
While you were sleeping: Oil rebound lifts Wall St
Friday, 15 January 2016, 7:21 am | BusinessDesk
Jan. 15 (BusinessDesk) - Wall Street rose, as a recovery in the price of oil offered investors confidence to pick up beaten-down stocks. Goldman Sachs said the selloff was overdone. More >>
Vodafone in $200 mln 'office of the future' Auckland deal
Thursday, 14 January 2016, 5:57 pm | BusinessDesk
Jan. 14 (BusinessDesk) - Vodafone New Zealand is to bring its 1,800 Auckland staff under one roof as part of a $200 million dollar property deal on the city's North Shore. More >>
