Scoop has an Ethical Paywall
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 7]
Dollar rises after RBNZ says unconventional policy unlikely
Thursday, 26 September 2019, 8:19 pm | BusinessDesk
Sept. 26 (BusinessDesk) - The New Zealand dollar rose after Reserve Bank governor Adrian Orr said the central bank is unlikely to use unconventional monetary policy measures like those used by the Federal Reserve and European Central Bank. More >>
RBNZ gauging extent of banks 'front-loading'
Thursday, 26 September 2019, 6:49 pm | BusinessDesk
Sept. 26 (BusinessDesk) - Reserve Bank governor Adrian Orr says rural borrowers are facing higher lending costs despite interest rate cuts over the past year and that the regulator is gauging whether banks are bolstering their balance sheets in advance ... More >>
Fonterra confident it got the strategy right
Thursday, 26 September 2019, 5:57 pm | BusinessDesk
Sept. 26 (BusinessDesk) - Fonterra Cooperative Group reported its second loss in a row but is confident it now has its strategy right. More >>
Full of potential, poorly harnessed: MBIE on NZ science
Thursday, 26 September 2019, 5:57 pm | BusinessDesk
Sept. 26 (BusinessDesk) - The inability of New Zealand's research, science and innovation sector to coordinate its efforts at home and abroad is the biggest challenge to lifting its performance, government officials say. More >>
Steel & Tube pushes return to 'normal' earnings beyond 2021
Thursday, 26 September 2019, 5:13 pm | BusinessDesk
Sept. 26 (BusinessDesk) - Steel & Tube Holdings has pushed out its target for earning more than $30 million a year in operating profit from 2021 to an undetermined time beyond that. More >>
Shared infrastructure may be key to rural 5G roll-out
Thursday, 26 September 2019, 5:03 pm | BusinessDesk
Sept. 26 (BusinessDesk) - The Commerce Commission says shared infrastructure may be vital in getting 5G mobile technology to remote regions, even if it poses potential issues. More >>
Fuel sector JVs offer little upside for new players, CC told
Thursday, 26 September 2019, 3:04 pm | BusinessDesk
Sept. 26 (BusinessDesk) - Owners of new fuel storage may have little to gain from joining the shipping and product-sharing arrangements of the major players, the Commerce Commission has been told. More >>
FIRST CUT: Fonterra posts loss of $557m
Thursday, 26 September 2019, 11:58 am | BusinessDesk
Sept. 25 (BusinessDesk) - Fonterra Cooperative Group reported its second loss in a row as it racked up $826 million of charges writing down assets around the world and meeting other one-off costs. More >>
Fonterra prioritising value over volume
Thursday, 26 September 2019, 11:36 am | BusinessDesk
Sept. 26 (BusinessDesk) - Dairy giant Fonterra Cooperative Group is bringing its focus squarely back to New Zealand as it prioritises value over volume. More >>
Govt insurer wants to cut litigation funder
Thursday, 26 September 2019, 11:08 am | BusinessDesk
Sept. 26 (BusinessDesk) - Southern Response appears to want to avoid its claimants having to pay a portion of any settlement to litigation funder, Claims Funding Australia, flying in the face of a landmark Court of Appeal decision. More >>
NZ dollar falls on strong US housing data
Thursday, 26 September 2019, 11:06 am | BusinessDesk
Sept. 26 (BusinessDesk) - The New Zealand dollar fell after impeachment fears in the US eased and markets there bounced on stronger than expected house sales data and more optimistic talk on the China-US trade stoush. More >>
MARKET CLOSE: NZ shares mixed
Wednesday, 25 September 2019, 9:02 pm | BusinessDesk
Sept. 25 (BusinessDesk) - New Zealand shares outperformed the rest of Asia, edging higher as yield stocks such as Trustpower and Infratil were back in favour among investors. Air New Zealand rose as rival Jetstar signalled it will stop flying regional ... More >>
John Carnegie to lead fossil fuel industry group
Wednesday, 25 September 2019, 9:01 pm | BusinessDesk
Sept. 25 (BusinessDesk) - Long-time executive director of the Business New Zealand Energy Council, John Carnegie, is to take the reins as chief executive of the Petroleum Exploration and Production Association of New Zealand. More >>
NZ dollar eases after short-lived technical rally
Wednesday, 25 September 2019, 9:00 pm | BusinessDesk
Sept. 25 (BusinessDesk) - The New Zealand dollar was slightly weaker against the US dollar despite spiking on less-dovish-than-expected commentary when the Reserve Bank's monetary policy committee held the official cash rate steady. More >>
UPDATE: RBNZ keeps OCR at 1% but November cut may be off
Wednesday, 25 September 2019, 7:08 pm | BusinessDesk
Sept. 25 (BusinessDesk) - The Reserve Bank of New Zealand kept interest rates on hold at 1 percent as expected and the Kiwi dollar rose as a November rate cut - while possible - may not be a done deal. More >>
Air NZ to keep regional fares low as Jetstar ponders exit
Wednesday, 25 September 2019, 7:07 pm | BusinessDesk
Sept. 25 (BusinessDesk) - Air New Zealand says it won't hike fares on the routes that Jetstar looks set to exit, consistent with pricing changes it made earlier this year to stimulate travel in the regions. More >>
RBNZ keeps OCR at 1%, signals future cuts possible
Wednesday, 25 September 2019, 5:27 pm | BusinessDesk
Sept. 25 (BusinessDesk) - The Reserve Bank of New Zealand kept interest rates on hold at 1 percent as expected and said there is room to cut rates further if necessary. The New Zealand dollar rose. More >>
Interest rates deliver whopper long term ACC deficit
Wednesday, 25 September 2019, 4:59 pm | BusinessDesk
Sept. 25 (BusinessDesk) - Plunging global interest rates have delivered the Accident Compensation Corporation's biggest-ever deficit on its 100-year Outstanding Claims Liability, at $8.7 billion for the year ended June 30. More >>
Faafoi foreshadows conduct licensing regime
Wednesday, 25 September 2019, 3:32 pm | BusinessDesk
Sept. 25 (BusinessDesk) - The government is planning to introduce a conduct licensing regime governing banks, insurers and non-bank deposit takers which will be administered by the Financial Markets Authority. More >>
Jetstar pulling out of regional routes
Wednesday, 25 September 2019, 3:26 pm | BusinessDesk
Sept. 25 (BusinessDesk) - Jetstar plans to stop flying unprofitable regional routes at the end of November, blaming tepid demand and high jet fuel prices which it says look set to stay for some time. More >>
