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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 710]
NZX seeks feedback on broader governance guidelines
Tuesday, 3 November 2015, 11:36 am | BusinessDesk
Nov. 3 (BusinessDesk) - NZX, the stock market operator, is seeking feedback on a proposal to broaden corporate governance rules for main board-listed companies including a more specific code of ethics for senior managers, a charter setting out responsibilities ... More >>
Ordinary power consumers subsidising solar power pioneers
Tuesday, 3 November 2015, 11:27 am | BusinessDesk
Nov. 3 (BusinessDesk) - Electricity consumers are subsidising the tiny proportion of people who have solar electricity generation on their rooftops because of the outdated way that local electricity network monopolies charge for the use of their ... More >>
Allied Farmers wants to buy back NZ Farmers Livestock stake
Tuesday, 3 November 2015, 10:17 am | BusinessDesk
Nov. 3 (BusinessDesk) - Allied Farmers wants to buy back a stake in NZ Farmers Livestock that it sold down last year to pay debts. More >>
Trustpower launches $126.6 mln takeover bid for King Country
Tuesday, 3 November 2015, 10:13 am | BusinessDesk
Nov. 3 (BusinessDesk) - Trustpower, the utility company controlled by Infratil, is mounting a $126.6 million takeover bid for King Country Energy, having entered into a lock-up arrangement with Todd Corp's Nova Energy for 54 percent of the central ... More >>
Pyne Gould delays annual report for another three weeks
Tuesday, 3 November 2015, 9:27 am | BusinessDesk
Nov. 3 (BusinessDesk) - Pyne Gould Corp, whose chairman Bryan Mogridge unexpectedly resigned last week, doesn't expect to file its annual report for another three weeks, having already missed the stock exchange's deadline for releasing the accounts. More >>
Westpac NZ sees Auckland mortgage market heat abating: CEO
Tuesday, 3 November 2015, 8:53 am | BusinessDesk
Nov. 3 (BusinessDesk) - Westpac Banking Corp's New Zealand unit wants to match growth in the wider mortgage market in 2016 in what local chief executive David McLean expects will show slower expansion as heat in the Auckland housing market starts to abate. More >>
Banks getting tougher on riskier borrowers, lender says
Tuesday, 3 November 2015, 8:42 am | BusinessDesk
Nov. 3 (BusinessDesk) - General Finance says banks are taking a tougher line on some riskier borrowers, creating an opportunity for the niche mortgage lender to offer bridging finance that could help them restore their credit profile. More >>
NZ dollar falls vs. sterling on stronger UK manufacturing
Tuesday, 3 November 2015, 8:38 am | BusinessDesk
NZ dollar falls vs. British pound as stronger UK manufacturing sector stokes rate hike speculation More >>
While you were sleeping: Refreshed growth bets
Tuesday, 3 November 2015, 7:33 am | BusinessDesk
Nov. 3 (BusinessDesk) - Wall Street moved higher after the latest data on steady manufacturing in the US and the euro-zone bolstered optimism about the outlook for global growth. More >>
Squirrel launches P2P lending site, taking swipe at rivals
Monday, 2 November 2015, 5:44 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Squirrel Money, the peer-to-peer lender owned by former Australia & New Zealand Banking Group executive John Bolton, has opened for business, taking a swipe at 'inauthentic, bank-owned rivals'. More >>
MARKET CLOSE: NZ shares fall; Air NZ, MetroGlass decline
Monday, 2 November 2015, 5:35 pm | BusinessDesk
Nov. 2 (BusinessDesk) - New Zealand shares fell as investors looked to crystallise gains after the benchmark index booked its best month since 2009. Air New Zealand, Fletcher Building and Metro Performance Glass declined. More >>
NZ dollar gains as Chinese manufacturing less concerning
Monday, 2 November 2015, 5:15 pm | BusinessDesk
Nov. 2 (BusinessDesk) - The New Zealand dollar rose as Chinese manufacturing shrank less than expected last month, soothing concerns about growth in the world's second biggest economy and as investors digest last week's decision to keep local interest ... More >>
Abano expects 1H to drop up to 14%, weaker Australian sales
Monday, 2 November 2015, 4:22 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Abano Healthcare, the listed medical and dental centre investor, expects first half earnings to decline as much as 14 percent as an expanding exposure to the cooling Australian economy weighs, even as its dental network grows and audiology ... More >>
Lyttelton Port sues broker Aon over quake insurance policies
Monday, 2 November 2015, 4:18 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Lyttelton Port Co, which was taken private by Christchurch City Council last year, is suing insurance broker Aon for $184 million over the handling of its policies during 2010 and 2011 earthquakes that resulted in the South Island's ... More >>
Inflation outcome alone too narrow to gauge RBNZ policy
Monday, 2 November 2015, 3:02 pm | BusinessDesk
Nov. 2 (BusinessDesk) - The Reserve Bank says its policy decisions can't be judged solely on the level of inflation in the country, as it has to maintain the credibility of its operating framework and can be trumped by new information, according to a ... More >>
NZ Dollar Outlook: Kiwi may decline on negative sentiment
Monday, 2 November 2015, 1:14 pm | BusinessDesk
Nov. 2 (BusinessDesk) - The New Zealand dollar may decline this week, weighed down by dovish sentiment from the Reserve Bank of Australia, a decline in dairy auction prices and low US jobs growth. More >>
NZX50 books its best month in six years
Monday, 2 November 2015, 12:54 pm | BusinessDesk
Nov. 2 (BusinessDesk) - The S&P/NZX 50 Index has booked its best month since the global financial crisis, climbing to record levels in October, as volatility in international markets abated, renewing the demand for returns on equities as low ... More >>
Blis in trading halt over product line 'quality issue'
Monday, 2 November 2015, 12:37 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Blis Technologies shares have been halted as the probiotic products maker investigates a quality issue in one of its lines that's reached a foreign market. More >>
'Post-RMA' process looms as govt reviews urban planning
Monday, 2 November 2015, 11:32 am | BusinessDesk
Nov. 2 (BusinessDesk) - Entrenched government disquiet with current urban planning practice is behind a further Productivity Commission inquiry into regulation of urban land, which observers believe could see the Resource Management Act's planning functions ... More >>
Westpac NZ lifts annual profit 6%
Monday, 2 November 2015, 11:11 am | BusinessDesk
Nov. 2 (BusinessDesk) - Westpac Banking Corp's New Zealand division lifted annual earnings 6 percent as it ceded market share in the hotly contested mortgage market to protect margins, which lag behind its local peers. More >>
