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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 70]
Fonterra still exposed to Beingmate in Bubs supply deal
Tuesday, 7 May 2019, 1:58 pm | BusinessDesk
May 7 (BusinessDesk) - Fonterra Cooperative Group will still be exposed to its former Chinese partner Beingmate Baby & Child Food Co, albeit one step removed, in a new supply deal with Bubs Australia. More >>
Pohokura work winding up
Tuesday, 7 May 2019, 1:56 pm | BusinessDesk
May 7 (BusinessDesk) - Maintenance work at the country’s biggest gas field is winding up, with China Oilfield Services’ Boss rig expected to start decoupling from the Pohokura production platform by tomorrow. More >>
Michelle Kernahan to leave Fletcher Building
Tuesday, 7 May 2019, 12:43 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 >>
NZD weaker on China-US trade jitters; focus on RBA, RBNZ
Tuesday, 7 May 2019, 11:10 am | BusinessDesk
May 7 (BusinessDesk) - The New Zealand dollar weakened amid jitters over the US-China trade negotiations and ahead of monetary policy decisions in Australia and at home. More >>
Councillors rue govt funding pullback in SCIRT programme
Tuesday, 7 May 2019, 10:19 am | BusinessDesk
May 7 (BusinessDesk) - Christchurch city councillors were left ruing central government's decision to dial back its share of the largely successful $2.24 billion programme to rebuild and repair the city's horizontal infrastructure such as water pipes and ... More >>
MARKET CLOSE: NZ shares fall on Trump talk
Monday, 6 May 2019, 9:51 pm | BusinessDesk
May 6 (BusinessDesk) - New Zealand shares joined a slump across Asia as US President Donald Trump's tough stance on trade spooked investors. Exporters including A2 Milk and Fisher & Paykel Healthcare were among those sold off. More >>
NZ dollar bounces off its lows after Trump's China scare
Monday, 6 May 2019, 9:50 pm | BusinessDesk
May 6 (BusinessDesk) - The New Zealand dollar firmed after starting the day sharply weaker on US President Donald Trump’s threat to raise tariffs on Chinese goods just as the two nations were nearing a trade agreement. More >>
Treasury warns growth might be weaker than December forecast
Monday, 6 May 2019, 9:48 pm | BusinessDesk
May 6 (BusinessDesk) - Treasury says partial indicators suggest New Zealand's economic growth has been throttled back and may be lower than it forecast in the December half-year update. More >>
UPDATE: Huawei calls for talks with GCSB minister
Monday, 6 May 2019, 6:57 pm | BusinessDesk
May 6 (BusinessDesk) - Huawei has vigorously defended its right to be part of New Zealand’s 5G mobile network build at the China Business Summit in Auckland this morning. And it has called on GCSB Minister Andrew Little to meet with them to discuss ... More >>
UPDATE: Westpac NZ delivers 15% lift in first-half profit
Monday, 6 May 2019, 6:56 pm | BusinessDesk
May 6 (BusinessDesk) - Westpac New Zealand will have brought a note of cheer to its parent’s dismal results as fixing problems revealed by the royal commission into financial services continue to dog the Australian bank. More >>
Air NZ's long, hard $100M flightpath to China
Monday, 6 May 2019, 5:02 pm | BusinessDesk
May 6 (BusinessDesk) - Air New Zealand has lost $100 million in the 13 years it has been flying to China, chief executive Christopher Luxon says. More >>
NZ commodity prices extend gain in April
Monday, 6 May 2019, 4:57 pm | BusinessDesk
NZ commodity prices extend gain in April, March figures revised higher More >>
Huawei calls for talks with GCSB minister on 5G
Monday, 6 May 2019, 4:24 pm | BusinessDesk
May 6 (BusinessDesk) - Huawei has vigorously defended its right to be part of New Zealand’s 5G mobile network build at the China Business Summit in Auckland this morning. And it has called on GCSB Minister Andrew Little to meet with them to discuss ... More >>
Comvita shares tumble
Monday, 6 May 2019, 3:19 pm | BusinessDesk
May 6 (BusinessDesk) - Comvita shares fell 9.3 percent after it said honey production had been "poor overall" for the third season in a row and it now expects a net loss of around $6 million for the year. More >>
Westpac NZ delivers a 15% higher first-half net profit
Monday, 6 May 2019, 3:06 pm | BusinessDesk
May 6 (BusinessDesk) - Westpac New Zealand will have brought a note of cheer to its parent’s dismal results as fixing problems revealed by the royal commission into financial services continue to dog the Australian bank. More >>
Briscoe warns accounting change may knock profit
Monday, 6 May 2019, 2:53 pm | BusinessDesk
May 6 (BusinessDesk) - Briscoe Group says it may struggle to deliver another record profit as accounting rule changes reduce earnings already facing a squeeze from higher wages and increased costs. More >>
Goodman trust won't adopt new NZX rules for managed funds
Monday, 6 May 2019, 1:41 pm | BusinessDesk
May 6 (BusinessDesk) - Goodman Property Trust’s manager says that it won’t be adopting new NZX rules for managed investment schemes but will remain subject to the rules applying to most other equity securities. More >>
The story of the collapse of the Hubbard financial empire
Monday, 6 May 2019, 1:32 pm | BusinessDesk
Lee’s portrayal of Hubbard makes no bones that he had deep flaws, including operating the same kind of Ponzi scheme that brought down famous fraudsters, New Zealand’s own David Ross and New York’s Bernie Madoff, both of whom are still serving lengthy ... More >>
Class action against Southern Response gains Aussie funder
Monday, 6 May 2019, 12:24 pm | BusinessDesk
May 6 (BusinessDesk) - About 3,000 Canterbury residents who believe they were short-changed in their insurance settlements with Southern Response now have the backing of an Australian litigation funder for their roughly $300 million claim. More >>
The story behind the collapse of a financial empire
Monday, 6 May 2019, 11:48 am | BusinessDesk
May 6 (BusinessDesk) - Government officials wrongly decided after a flying visit to his Timaru headquarters that financier Allan Hubbard had stolen money from Aorangi Securities, an investment scheme he had been running. More >>
