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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.

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Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 677]

MARKET CLOSE: NZ shares fall, joining global selloff

Thursday, 14 January 2016, 5:48 pm | BusinessDesk

Jan. 14 (BusinessDesk) - New Zealand shares fell, joining a global selloff as weak crude oil and concerns about faltering Chinese growth hurt sentiment. Xero, A2 Milk Co and Chorus declined. More >>

NZ dollar falls as crude oil drops to 12-year low

Thursday, 14 January 2016, 5:21 pm | BusinessDesk

Jan. 14 (BusinessDesk) - The New Zealand dollar dropped as oil prices fell to a 12-year low and Chinese stock markets opened lower, spooking investors out of risk-sensitive assets such as the kiwi and the Australian dollar. More >>

Nubiotics' Trevor Lock charged with $1 mln fraud by SFO

Thursday, 14 January 2016, 4:33 pm | BusinessDesk

Jan. 14 (BusinessDesk) - Nubiotics and Nu-Brands principal Trevor Lock has appeared in court charged with running a dairy and honey business that generated $1 million dollars by defrauding customers. More >>

UPDATE: Direct FX may cancel derivatives licence

Thursday, 14 January 2016, 4:24 pm | BusinessDesk

Jan. 14 (BusinessDesk) - Direct FX, a foreign exchange services company controlled by managing director Andrew Isbister, is considering cancelling its Derivatives Issuer Licence after a temporary breach of compliance rules covering the tiny portion of ... More >>

SBS Bank names Mark McLean as interim replacement for Evans

Thursday, 14 January 2016, 4:06 pm | BusinessDesk

Jan. 14 (BusinessDesk) - SBS Bank has appointed its chief risk and innovation officer, Mark McLean, as interim chief executive after former CEO Wayne Evans died unexpectedly this month from natural causes. More >>

Direct FX may quit derivatives licence after brief breach

Thursday, 14 January 2016, 2:18 pm | BusinessDesk

NZ credit, debit card retail spending falls in December

Thursday, 14 January 2016, 12:44 pm | BusinessDesk

Jan. 14 (BusinessDesk) - New Zealand retail spending on electronic cards fell in December, led by a decline in purchases of durable goods, in a month when consumer confidence dipped. More >>

Auror strikes national deal with NZ Police, eyes exports

Thursday, 14 January 2016, 11:46 am | BusinessDesk

Jan. 14 (BusinessDesk) - Auror, which develops crime prevention software, has signed a partnership with the New Zealand Police to make its cloud-based software platform available nationally after successful pilots during the past two years, in a move ... More >>

Trans-Tasman rivalry increases; fares seen falling

Thursday, 14 January 2016, 11:04 am | BusinessDesk

Jan. 14 (BusinessDesk) - Air New Zealand faces increased competition on hotly contested trans-Tasman routes as cheap fuel costs encourage airlines to add capacity and new routes, and dust off older, less efficient planes, helping to drive down fares. More >>

Lewis Road Creamery eyes China as potential export market

Thursday, 14 January 2016, 10:14 am | BusinessDesk

Jan. 13 (BusinessDesk) - Lewis Road Creamery, the premium dairy brand company, will make a final decision this year whether to export, most likely fresh organic milk into China’s Shanghai. It’s also planning to release a number of product extensions ... More >>

NZ dollar drops as higher oil inventories stoke concerns

Thursday, 14 January 2016, 8:50 am | BusinessDesk

Jan. 14 (BusinessDesk) - The New Zealand dollar fell as investors shed commodity-linked currencies on concern about the outlook for global growth after oil inventories rose. More >>

While you were sleeping: Wall St falls, Treasuries rise

Thursday, 14 January 2016, 7:46 am | BusinessDesk

Jan. 14 (BusinessDesk) - Wall Street declined, while US Treasuries rose, after oil gave up earlier gains as a US report raised fresh concerns about the global glut. More >>

MARKET CLOSE: NZ shares rise on bargain-hunting

Wednesday, 13 January 2016, 5:45 pm | BusinessDesk

Jan. 13 (BusinessDesk) - New Zealand shares rose as investors were drawn to companies sold off since the New Year, such as Sky Network Television and Westpac Banking Corp, while Air New Zealand benefited from lower fuel costs. Warehouse Group and New Zealand ... More >>

NZ dollar rises as oil prices advance from lows

Wednesday, 13 January 2016, 5:24 pm | BusinessDesk

Jan. 13 (BusinessDesk) - The New Zealand dollar rose as oil prices gained from a 12-year low and Chinese stocks gained in afternoon trading, easing investors' fears about the world's second-biggest economy and its impact on commodity producing nations. More >>

Mitre 10 chair Dippie's Mega stores ordered back to talks

Wednesday, 13 January 2016, 3:09 pm | BusinessDesk

Jan. 13 (BusinessDesk) - Mitre 10 (New Zealand) chairman Martin Dippie's Jacks Hardware and Timber has been ordered back to the negotiating table with First Union after the Employment Court ruled it misled the union to prevent strike action. More >>

Climate change benefits for NZ from electric vehicles: study

Wednesday, 13 January 2016, 1:46 pm | BusinessDesk

Jan. 13 (BusinessDesk) - Electric vehicles have the capacity to make a dramatic impact to the carbon footprint of New Zealand's passenger vehicle fleet, with potential for greater gains as the country's already high renewable electricity production ... More >>

NZ property values rise 14% in 2015

Wednesday, 13 January 2016, 12:10 pm | BusinessDesk

Jan. 13 (BusinessDesk) - New Zealand property values rose 14 percent in 2015, with the annual pace slowing from a peak in November, as regulatory curbs imposed by the government and central bank took the steam out of the Auckland market, according ... More >>