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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 69]
NZ dollar falls after RBNZ cuts the OCR
Wednesday, 8 May 2019, 8:19 pm | BusinessDesk
May 8 (BusinessDesk) - The New Zealand dollar fell after the Reserve Bank’s decision to cut its official cash rate to a record low after other central banks, notably the Federal Reserve and the Reserve Bank of Australia, decided to hold their key ... More >>
Mainzeal lawyers argue over $36 million
Wednesday, 8 May 2019, 8:18 pm | BusinessDesk
"Lawyers in the Mainzeal case were back in court today arguing whether the $36 million penalty handed down to directors of the failed construction company, including former Prime Minister Jenny Shipley, should attract up to six years' interest. They were also trying to clarify the details for setting the compensation payment." More >>
Waihi gold mining 'inherently unsustainable' - Sage
Wednesday, 8 May 2019, 8:16 pm | BusinessDesk
May 8 (BusinessDesk) - Expansion of gold mining at Waihi is inherently unsustainable, will increase emissions, and will provide only moderate employment benefits relative to winding down the operation and remediating the site, Land Information Minister ... More >>
'Toothless' or ' alarming' - reaction to the Zero Carbon Bil
Wednesday, 8 May 2019, 5:58 pm | BusinessDesk
May 8 (BusinessDesk) - Reactions to the net zero carbon emissions legislation released today range from Greenpeace attacking it as "toothless" and "miserly" to Federated Farmers calling it "frustratingly cruel". More >>
UPDATE: NZ central bank cuts rates, signals more to come
Wednesday, 8 May 2019, 5:52 pm | BusinessDesk
May 8 (BusinessDesk) - The Reserve Bank cut the official cash rate by 25 basis points to a record low of 1.5 percent and signaled more cuts to come. The New Zealand dollar fell. More >>
NZ central bank cuts rates, signals more to come
Wednesday, 8 May 2019, 5:08 pm | BusinessDesk
May 8 (BusinessDesk) - The Reserve Bank cut the official cash rate by 25 basis points to 1.5 percent and signaled more cuts to come. The New Zealand dollar fell. More >>
PFI shareholders approve a 39% hike in directors' fees
Wednesday, 8 May 2019, 4:42 pm | BusinessDesk
May 8 (BusinessDesk) - Property for Industry’s shareholders have overwhelmingly approved substantial increases and changes in the structure of directors’ fees at the annual meeting. More >>
Pushpay appoints chairman Bruce Gordon new CEO
Wednesday, 8 May 2019, 3:29 pm | BusinessDesk
May 8 (BusinessDesk) - Digital church collection payment operator Pushpay said it has appointed board chairman Bruce Gordon as the new chief executive after Chris Heaslip resigned effective May 31. More >>
Pushpay lifts FY19 net profit; FY20 guidance upbeat
Wednesday, 8 May 2019, 2:22 pm | BusinessDesk
May 8 (BusinessDesk) - Digital church collection payment operator Pushpay is upbeat about the coming year after lifting revenue by 40 percent and reporting a full-year net profit. More >>
Govt unveils long-awaited zero carbon law
Wednesday, 8 May 2019, 1:50 pm | BusinessDesk
Govt unveils long-awaited zero carbon law, takes ‘split gas’ approach on methane More >>
New book says South Canterbury Finance receivership bungled
Wednesday, 8 May 2019, 1:09 pm | BusinessDesk
May 8 (BusinessDesk) - McGrathNicol has been accused of mismanaging the South Canterbury Finance receivership by selling its assets too fast at fire-sale prices and charging outsized fees. More >>
Evolve to raise $63.5M at steep discount to repay debt
Wednesday, 8 May 2019, 12:27 pm | BusinessDesk
May 8 (BusinessDesk) - Evolve Education Group plans to raise $63.5 million at a 65 percent discount to repay debt and fund a push into Australia. More >>
NZD hovers near 66 US cents ahead of RBNZ decision
Wednesday, 8 May 2019, 11:06 am | BusinessDesk
May 8 (BusinessDesk) - The New Zealand dollar hovered around 66 US cents amid US-China trade talk jitters and ahead of the Reserve Bank of New Zealand's rate decision later today. More >>
Dairy product prices post 11th straight gain; powder slips
Wednesday, 8 May 2019, 10:56 am | BusinessDesk
May 8 (BusinessDesk) - Dairy product prices inched higher at the Global Dairy Trade auction, rising for the eleventh straight time, even as whole milk powder posted a third consecutive decline. More >>
MARKET CLOSE: NZ shares gain as investors chase yield
Tuesday, 7 May 2019, 8:55 pm | BusinessDesk
May 7 (BusinessDesk) - New Zealand shares bounced back from yesterday's Donald Trump-induced slump, as the attraction of stocks paying reliable dividends remains strong in a low-interest rate environment. Meridian Energy, Chorus and Infratil were among the ... More >>
NZ dollar drops against Aussie after RBA keeps rates on hold
Tuesday, 7 May 2019, 8:20 pm | BusinessDesk
May 7 (BusinessDesk) - The New Zealand dollar fell sharply against the Australian dollar but was higher against the US dollar after the Reserve Bank of Australia left its cash rate unchanged at 1.5 percent. More >>
Short-term inflation expectations lift in RBNZ survey
Tuesday, 7 May 2019, 6:55 pm | BusinessDesk
May 7 (BusinessDesk) - Business managers and finance professionals lifted their short-term inflation expectations in the latest Reserve Bank survey but held their longer-dated view steady. More >>
Genesis seeks buyer for $18M of customer debt
Tuesday, 7 May 2019, 4:55 pm | BusinessDesk
May 7 (BusinessDesk) - Genesis Energy is aiming to sell up to $18.4 million of debt it has been unable to recover from its retail customers. More >>
KiwiSaver the favoured investor vehicle, survey shows
Tuesday, 7 May 2019, 3:20 pm | BusinessDesk
May 7 (BusinessDesk) - KiwiSaver is the country's favourite investment asset class, closely followed by an old-fashioned savings account, although Kiwis still largely see residential property as the way to get ahead. More >>
UPDATE: Kernahan to leave Fletcher Building for Hall's Group
Tuesday, 7 May 2019, 2:44 pm | BusinessDesk
May 7 (BusinessDesk) - Fletcher Building’s Michelle Kernahan is leaving the company at the end of July for a "new career challenge.” More >>
