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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 686]
Kingfish exits Sky TV investment, citing costs, new rivals
Wednesday, 16 December 2015, 4:53 pm | BusinessDesk
Dec. 16 (BusinessDesk) - Kingfish, the NZX-listed investment company managed by Fisher Funds Management, sold its stake in Sky Network Television because of concerns about the increased cost of delivering new services and the arrival of on-demand rivals ... More >>
Kaingaroa Timberlands profit rescued by foreign exchange
Wednesday, 16 December 2015, 4:49 pm | BusinessDesk
Dec. 16 (BusinessDesk) - Kaingaroa Timberlands, the nation's biggest forestry business, posted a 37 percent gain in full-year profit as a foreign exchange gain more than made up for a drop in international log prices. More >>
Appeal Court largely upholds ruling on 'batts' branding
Wednesday, 16 December 2015, 4:10 pm | BusinessDesk
Dec. 16 (BusinessDesk) - Rival building products makers Knauf and Fletcher Building didn't move the Court of Appeal in their tussle over the use of the term "batts" to describe insulation. More >>
RealMe says StudyLink deal spurs uptake
Wednesday, 16 December 2015, 2:56 pm | BusinessDesk
Dec. 16 (BusinessDesk) - The Department of Internal Affairs says uptake of its RealMe login and identity verification service has been spurred on since the addition of student finance service StudyLink in May, although the agency is still trying to ... More >>
Landcorp inks agreement with iwi for Sweetwater farm in Nort
Wednesday, 16 December 2015, 2:43 pm | BusinessDesk
Dec. 16 (BusinessDesk) - Landcorp Farming, New Zealand's largest corporate farmer, will continue to be involved in the management of Northland farm Sweetwater after iwi take ownership of the property under a Treaty of Waitangi settlement. More >>
Straker raises a further $1 million for global acquisitions
Wednesday, 16 December 2015, 2:09 pm | BusinessDesk
Dec. 16 (BusinessDesk) - Straker Translations, the online translations platform, has raised a further $1 million of equity funding from an existing Hong Kong investor, who paid a 20 percent premium to the last capital raise in September. More >>
Fairfax NZ unshackled from debt, gets $76.5 mln injection
Wednesday, 16 December 2015, 1:53 pm | BusinessDesk
Fairfax NZ unshackled from debt, gets $76.5 mln injection from Aust parent in 2015 More >>
Fairfax NZ unshackled from debt, gets $76.5 mln injection
Wednesday, 16 December 2015, 1:53 pm | BusinessDesk
Fairfax NZ unshackled from debt, gets $76.5 mln injection from Aust parent in 2015 More >>
Oil explorers retreat to small-scale Taranaki plays
Wednesday, 16 December 2015, 11:50 am | BusinessDesk
Dec. 16 (BusinessDesk) - Oil and gas explorers have reacted to plunging global oil prices by taking up the smallest and most conservative range of new petroleum exploration licences since the government began its annual 'block offer' bidding process in 2012. More >>
Fonterra sells yoghurt, dessert unit after $108M writedown
Wednesday, 16 December 2015, 11:38 am | BusinessDesk
Dec. 16 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, has sold its Australian yoghurt and dairy dessert business to Parmalat Australia for an undisclosed sum, having written it down by $108 million in the 2015 financial ... More >>
NZ current a/c gap narrows to 3.3% of GDP on tourism flow
Wednesday, 16 December 2015, 10:53 am | BusinessDesk
NZ current a/c gap narrows to 3.3% of GDP on tourism flow By Jonathan Underhill More >>
NZ dollar falls as US inflation bolsters case for Fed hike
Wednesday, 16 December 2015, 8:37 am | BusinessDesk
Dec. 16 (BusinessDesk) - The New Zealand dollar weakened amid US dollar strength after upbeat US inflation data cemented expectations the Federal Reserve will hike interest rates this week. More >>
Flick Electric raises $5mln of new capital
Wednesday, 16 December 2015, 8:33 am | BusinessDesk
Dec. 15 (BusinessDesk) - Wellington-based online electricity retailer, Flick Electric, has raised $5 million in its second capital-raising in two years, adding the Gisborne-based Eastland Group as a cornerstone shareholder with an 11.1 percent shareholding, for ... More >>
While you were sleeping: Oil rebound lifts mood
Wednesday, 16 December 2015, 7:08 am | BusinessDesk
Dec. 16 (BusinessDesk) - Equities on both sides of the Atlantic rose with the price of oil, while US Federal Reserve policy makers began their two-day meeting. More >>
Dairy product prices edge up for second straight auction
Wednesday, 16 December 2015, 6:12 am | BusinessDesk
Dec. 16 (BusinessDesk) - Dairy product prices increased in the latest GlobalDairyTrade auction, moving higher for a second straight auction, though the gains were less than expected amid concern about worldwide excess supply. More >>
NZ dollar gains as new govt spending set to boost economy
Tuesday, 15 December 2015, 5:23 pm | BusinessDesk
Dec. 15 (BusinessDesk) - The New Zealand dollar gained as investors renewed their appetite for risk-sensitive assets ahead of the US Federal Reserve's policy review on Thursday and after Finance Minister Bill English said he'd give the local economy ... More >>
Flat wages, inflation squeeze tax take, govt accounts
Tuesday, 15 December 2015, 1:21 pm | BusinessDesk
Dec. 15 (BusinessDesk) - New Zealand’s tepid inflation and lack of wage growth will lean on the government’s book over the next couple of years with a slimmer tax take than previously thought. More >>
Tax cut allowance intact for 2017, Pension top-ups delayed
Tuesday, 15 December 2015, 1:12 pm | BusinessDesk
Dec. 15 (BusinessDesk) - New Zealand economic growth may be below previous forecast in the next two years, slowing the pace of government debt repayments and delaying the resumption of Crown top-ups to the NZ Superannuation Fund, the half-year budget ... More >>
CORRECT: NZ dairy exports to surge by 2017 after weaker 2016
Tuesday, 15 December 2015, 12:16 pm | BusinessDesk
Dec. 15 (BusinessDesk) - New Zealand dairy exports are forecast to surge in 2017, after falling in the current year when gains in meat, wool, forestry, seafood and horticultural products are expected to drive a 5.3 percent increase in the value ... More >>
RBNZ says 2%-14% of dairy loans may default
Tuesday, 15 December 2015, 12:11 pm | BusinessDesk
Dec. 15 (BusinessDesk) - The Reserve Bank has estimated the cash-flow shortfall for the average dairy farmer is likely to be more than $1 per kilogram of milk solids this season and that banks could see defaults on between 2 and 14 percent of dairy ... More >>
