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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 696]
Xero's Drury, Winkler and Morgan cash in on shares rally
Thursday, 26 November 2015, 11:15 am | BusinessDesk
Nov. 26 (BusinessDesk) - Xero founder Rod Drury and directors Craig Winkler and Sam Morgan sold shares on market in a multi-million dollar payday, taking advantage of a 35 percent rally in the stock this year. More >>
New border levy to deter tourists and dampen growth: NZIER
Thursday, 26 November 2015, 10:35 am | BusinessDesk
Nov. 26 (BusinessDesk) - A new levy on international visitors to pay for the growing costs of border control is inefficient, could deter up to 34,000 tourists from coming here each year, and dampen economic growth, says the New Zealand Institute of Economic ... More >>
Gentrack FY revenue misses forecast, profit exceeds target
Thursday, 26 November 2015, 9:57 am | BusinessDesk
Nov. 26 (BusinessDesk) - Gentrack Group, which develops utilities, airports, and water companies software, reported full-year results that were largely in line with its 2014 prospectus although revenue was below forecast. More >>
Pacific Edge first-half loss widens, ramps up sales in US
Thursday, 26 November 2015, 9:37 am | BusinessDesk
Nov. 26 (BusinessDesk) - Pacific Edge, which compensated shareholders over the way it announced major US deals in 2013, widened its first-half loss, spending more on the roll-out of products across North America where it ramped up sales of its Cxbladder ... More >>
F&P Healthcare, Air NZ chair Tony Carter gets NZSA award
Thursday, 26 November 2015, 7:37 am | BusinessDesk
Nov. 25 (BusinessDesk) - Tony Carter, chairman of both Fisher & Paykel Healthcare and Air New Zealand, has been recognised by the NZ Shareholders Association for his leadership skills as a director. More >>
While you were sleeping: US stocks edge higher
Thursday, 26 November 2015, 7:01 am | BusinessDesk
Nov. 26 (BusinessDesk) - Wall Street advanced, helped by Pfizer and Wal-Mart, as the latest raft of durable goods and housing data provided further evidence that the US economy is gathering pace. More >>
MARKET CLOSE: NZ shares fall, A2, Xero down on profit taking
Wednesday, 25 November 2015, 6:04 pm | BusinessDesk
Nov. 25 (BusinessDesk) - New Zealand shares fell, driving the NZX 50 Index down from a record high, as investors cashed in recent gains in a2 Milk Co, which was cut to 'underperform' by an analyst, and companies including Xero. More >>
NZ dollar gains as futures market points to dairy pickup
Wednesday, 25 November 2015, 5:10 pm | BusinessDesk
NZ dollar gains as futures market points to pick up in dairy prices, US holiday looms More >>
Wellington Airport extension would dent domestic volumes
Wednesday, 25 November 2015, 5:00 pm | BusinessDesk
Nov. 25 (BusinessDesk) - Wellington International Airport would attract an additional 6.1 million passengers in the next 45 years if allowed to extend its runway by 355 metres into Lyall Bay, according to a cost-benefit analysis for the airport by Sapere ... More >>
UPDATED: Bid for smaller Fonterra board fails
Wednesday, 25 November 2015, 4:49 pm | BusinessDesk
Nov. 25 (BusinessDesk) - Fonterra Cooperative Group shareholder support for a proposal to reduce the board size was evenly split and has led to the company acknowledging change is needed sooner rather than later in its governance and representation. More >>
Fonterra targets doubling of China revenue within five years
Wednesday, 25 November 2015, 4:24 pm | BusinessDesk
Nov. 25 (BusinessDesk) - Fonterra Cooperative Group, the world’s largest dairy exporter, has set a target of becoming the number one dairy player in China and doubling its business in the country to $10 billion within the next five years. More >>
Wilson Parking NZ profit doubles on security, parking sales
Wednesday, 25 November 2015, 4:15 pm | BusinessDesk
Nov. 23 (BusinessDesk) - Wilson Parking New Zealand, owned by Hong Kong’s Kwok family, more than doubled annual profit as it reaped more revenue from an expanding security business. More >>
Bid to trim Fonterra board size spurs hot shareholder debate
Wednesday, 25 November 2015, 2:37 pm | BusinessDesk
Nov. 25 (BusinessDesk) - A proposal to slash the size of the Fonterra Cooperative Group board from 13 to nine came in for hot debate by shareholders at the cooperative’s annual meeting in Waitoa today. More >>
Smartpay 1H profit slumps 90% after losing big taxi contract
Wednesday, 25 November 2015, 1:58 pm | BusinessDesk
Nov. 25 (BusinessDesk) - Smartpay Holdings, the listed payment terminal supplier, reported a 90 percent slump in first half profit and is in the process of rebuilding its business after losing a major wholesale contract last year. More >>
Financial advisers could still pocket commissions in review
Wednesday, 25 November 2015, 12:54 pm | BusinessDesk
Nov. 25 (BusinessDesk) - The government is eyeing tougher ethical obligations for financial advisers to help confused consumers, but doesn't favour dropping commissions paid by providers such as fund managers or insurers to sell their products. More >>
Fonterra says 2016 forecast payout tied to dairy recovery
Wednesday, 25 November 2015, 12:38 pm | BusinessDesk
Nov. 25 (BusinessDesk) - Fonterra Cooperative Group has affirmed guidance for the 2016 milk payout to farmers, although chairman John Wilson said it was dependent on global dairy prices rising in the first half of next year from current unsustainable ... More >>
ERoad turns to first-half profit, affirms annual guidance
Wednesday, 25 November 2015, 12:25 pm | BusinessDesk
Nov. 25 (BusinessDesk) - ERoad, the logistics and fleet management software and hardware developer, turned to a first-half profit from a loss a year earlier as gains in Australia and New Zealand made up for slower growth in North America. More >>
A2 Milk cut to underperform at First NZ
Wednesday, 25 November 2015, 12:15 pm | BusinessDesk
A2 Milk cut to underperform at First NZ as brokerage awaits proof Australian success can be replicated More >>
King Country Energy rejects Trustpower two-tier offer
Wednesday, 25 November 2015, 11:02 am | BusinessDesk for Yahoo
Nov. 25 (BusinessDesk) - The independent directors of King Country Energy are urging the company's 6,000 independent shareholders to reject Trustpower's two-tier takeover offer, saying the whole offer should be pitched at $5 a share irrespective of uptake. More >>
Trilogy more than triples first-half profit; shares rise
Wednesday, 25 November 2015, 10:22 am | BusinessDesk
Nov. 25 (BusinessDesk) - Trilogy International, the skincare and home fragrance company, more than tripled first-half profit as it benefited from growth across all its markets. The shares hit a new record high. More >>
