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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 684]
NZX nudges ahead in 'no holds barred' battle with Ralec
Monday, 21 December 2015, 11:44 am | BusinessDesk
Dec. 21 (BusinessDesk) - NZX, the stock market operator, came out ahead in the latest instalment of its "no holds barred" battle with Ralec, the Australian sellers of the Clear Grain Exchange, winning a small costs award ahead of next year's eight-week ... More >>
Serko raises $8M from institutions, seeks further $1M in SPP
Monday, 21 December 2015, 9:08 am | BusinessDesk
Serko sells $8M of new shares to institutional investors, will raise another $1 mln in SPP More >>
World Week Ahead: Volatility ever present
Monday, 21 December 2015, 8:05 am | BusinessDesk
Dec. 21 (BusinessDesk) - Investors will eye a report on US gross domestic product in a holiday-shortened week, while the continuing slide in the price of oil is boosting the potential for some pre-Christmas volatility. More >>
Maori Trustee, Quayside buy stakes in Opotiki Packing
Saturday, 19 December 2015, 10:45 am | BusinessDesk
Dec. 19 (BusinessDesk) - Opotiki Packing and Coolstorage shareholders have approved a capital raising plan that includes the Maori Trustee, Te Tumu Paeroa, and Bay of Plenty Regional Council’s investment arm each taking a 10.1 percent stake in the ... More >>
Trends creditors win bid to separate their claim
Friday, 18 December 2015, 6:11 pm | BusinessDesk
Dec. 18 (BusinessDesk) - Creditors of magazine publisher Trends Publishing International, which is being chased to repay debts including $383,000 of a government-funded research and development grant cancelled earlier this year, have won a High Court skirmish ... More >>
High Court upholds deregistration of Pakistani-owned FX firm
Friday, 18 December 2015, 5:54 pm | BusinessDesk
Dec. 18 (BusinessDesk) - The High Court in Auckland has upheld the deregistration of Pakistani-owned foreign exchange firm Excelsior Markets, agreeing that the company didn't operate in New Zealand, and if it kept its registration, that could mislead ... More >>
MARKET CLOSE: NZX50 gains, led by A2 on earnings upgrade
Friday, 18 December 2015, 5:37 pm | BusinessDesk
Dec. 18 (BusinessDesk) - New Zealand shares rose, led by A2 Milk Co after the milk marketer raised its annual earnings forecast for the second time in as many months on strong demand for its infant formula. More >>
NZ Carbon Farming loses appeal in carbon credit spat
Friday, 18 December 2015, 5:22 pm | BusinessDesk
Dec. 18 (BusinessDesk) - The Court of Appeal has dismissed an appeal by New Zealand Carbon Farming, the country’s largest supplier of post-1989 bulk carbon credits, against a High Court decision in favour of Mighty River Power over a $34.7 million ... More >>
NZ dollar heads for 0.4% weekly dip after Fed rate hike
Friday, 18 December 2015, 5:08 pm | BusinessDesk
NZ dollar heads for 0.4% weekly dip after Fed embarks on rate hike cycle More >>
Smart fabric start-up Footfalls & Heartbeats raises loan
Friday, 18 December 2015, 3:10 pm | BusinessDesk
Dec. 18 (BusinessDesk) - Smart fabric start-up Footfall & Heartbeats is about to close a $250,000 convertible loan after having to pull a crowdfunding campaign in September and let go its newly-hired chief executive after a problem emerged with ... More >>
NZ business confidence ends 2015 at 8 month high
Friday, 18 December 2015, 1:48 pm | BusinessDesk
Dec. 18 (BusinessDesk) - New Zealand businesses ended 2015 on an upbeat note, with confidence rising to the highest level since April as recent data points to robust growth in the year ahead. More >>
Trustpower plans to carve out wind business into separate co
Friday, 18 December 2015, 1:27 pm | BusinessDesk
Dec. 18 (BusinessDesk) - Utility company Trustpower plans to spin out its windfarms and renewable development pipeline into a separate business, and has the blessing of majority shareholder Infratil to do so. More >>
Aupouri Maori Trust Board insolvent, not fraudulent
Friday, 18 December 2015, 12:29 pm | BusinessDesk
Dec. 18 (BusinessDesk) - A Ministerial-ordered inquiry into the financial woes of Aupouri Maori Trust Board has cleared the entity of any misdoing, though confirmed its insolvency. More >>
Aupouri Maori Trust Board insolvent, not fraudulent
Friday, 18 December 2015, 12:28 pm | BusinessDesk
Dec. 18 (BusinessDesk) - A Ministerial-ordered inquiry into the financial woes of Aupouri Maori Trust Board has cleared the entity of any misdoing, though confirmed its insolvency. More >>
Update: A2 shares soar to record after earnings upgrade
Friday, 18 December 2015, 12:19 pm | BusinessDesk
Update: A2 shares soar to record after earnings upgrade (Recasts with share price, adds investor comment throughout) More >>
Vector doubles gas quantities on tap to Marsden Pt refinery
Friday, 18 December 2015, 10:28 am | BusinessDesk
Dec. 18 (BusinessDesk) - Vector, the electricity and gas distribution firm, will double the quantity of natural gas available to the Marsden Point oil refinery in a new deal with New Zealand Refining. More >>
Rakon buys stake in Aussie start-up Thinxtra for A$800,000
Friday, 18 December 2015, 9:12 am | BusinessDesk
Dec. 18 (BusinessDesk) - Rakon, the high-tech components manufacturer, has bought an 11 percent stake in Australian start-up Thinxtra for A$800,000, seeking exposure in expanding machine-to-machine (M2M) connectivity, known as the Internet of Things ... More >>
Serko halts share trading to raise funds
Friday, 18 December 2015, 9:07 am | BusinessDesk
Dec. 18 (BusinessDesk) - Serko, the online travel booking company which has downgraded its earnings guidance twice this year, has halted trading in its shares to raise funds in a "target placement". More >>
Regulator pushes out Z's bid to buy Chevron assets
Friday, 18 December 2015, 8:33 am | BusinessDesk
Dec. 18 (BusinessDesk) - The Commerce Commission has delayed its decision on whether to approve Z Energy's application to buy Chevron New Zealand's service station chains until the end of April, adding about $10 million to the cost of the acquisition. More >>
NZ Super Fund, Ngai Tahu invest $113M in Auckland housing
Friday, 18 December 2015, 7:15 am | BusinessDesk
Dec. 17 (BusinessDesk) - The New Zealand Super Fund has teamed up with Ngai Tahu’s property arm and New Ground Capital, to invest in a $113 million new housing development at Hobsonville Point – its first direct foray in the Auckland housing market. More >>
