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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 711]
Fonterra reaped 25% gain from Bega shares
Monday, 2 November 2015, 10:52 am | BusinessDesk
Nov. 2 (BusinessDesk) - Fonterra Cooperative Group reaped a 25 percent gross gain on its two-year investment in Australia's Bega Cheese shares, which jumped to a record last week after announcing a partnership with Blackmores that will compete with the ... More >>
Auckland Airport seeks $100 mln in bond issue
Monday, 2 November 2015, 10:13 am | BusinessDesk
Nov. 2 (BusinessDesk) - Auckland International Airport, the country's biggest gateway, wants to raise $100 million through a seven-year bond issue, a week after lifting plans for capital expenditure, and as another debt issue nears maturity. More >>
Augusta buys Christchurch site for $39.5M
Monday, 2 November 2015, 9:23 am | BusinessDesk
Nov. 2 (BusinessDesk) - Augusta Capital, the listed property investor and fund manager, has agreed to buy a Christchurch industrial property for $39.5 from an undisclosed seller, which it plans to offer to investors through a syndication later this month. More >>
NZ dollar gains vs Aussie dollar on weak China manufacturing
Monday, 2 November 2015, 8:46 am | BusinessDesk
Nov. 2 (BusinessDesk) - The New Zealand dollar gained against the Australian dollar after Chinese manufacturing data printed weaker than expected, stoking speculation Australia's exports will be harder hit than New Zealand's. More >>
World Week Ahead: Yellen speech, US jobs data
Monday, 2 November 2015, 6:21 am | BusinessDesk
Nov. 2 (BusinessDesk) - Among the key US economic data this week will be October’s jobs report on Friday, especially after Federal Reserve policy makers firmly put the possibility of an interest rate hike at their December meeting on the table. More >>
Kirkcaldie & Stains narrows full-year loss
Friday, 30 October 2015, 5:41 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Kirkcaldie & Stains narrowed its full-year loss while recognising one-time costs and impairments related to exiting its 152-year-old Wellington department store. More >>
MARKET CLOSE: NZ shares fall from record; Air NZ, MRP drop
Friday, 30 October 2015, 5:34 pm | BusinessDesk
Oct. 30 (BusinessDesk) - New Zealand stocks fell, retreating from record levels as investors booked profits. Air New Zealand, MightyRiverPower and Fisher & Paykel Healthcare declined in a broad-based selloff. More >>
NZX futures suggest GDT prices may drop 5% at next auction
Friday, 30 October 2015, 5:21 pm | BusinessDesk
Oct. 30 (BusinessDesk) - The price for New Zealand's key dairy export, whole milk powder, may drop about 5 percent at next week's GlobalDairyTrade auction amid lacklustre demand. More >>
NZ dollar mainly unchanged this week as traders feel no rush
Friday, 30 October 2015, 5:12 pm | BusinessDesk
Oct. 30 (BusinessDesk) - The New Zealand dollar is heading into the end of the week largely unchanged against the greenback after the Federal Reserve's move to keep open a potential rate hike was offset by improving economic data and a local central ... More >>
Canadian pension fund got clearance to buy dairy farm
Friday, 30 October 2015, 4:21 pm | BusinessDesk
Canadian pension fund got clearance to buy dairy farm last month as Shanghai Pengxin turned down More >>
Trustpower announces flat first-half earnings
Friday, 30 October 2015, 4:19 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Tauranga-based utility Trustpower announced flat earnings for the first half of the year on an underlying profit after tax basis, reporting a 1 percent uplift on the same period last year at $68.3 million. More >>
Xero slows cash burn in September quarter
Friday, 30 October 2015, 3:40 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Xero, the cloud-based accounting software developer, slowed its quarterly cash burn in the July-to-September period as customer receipts rose at a faster pace than its wage costs. More >>
Spark scraps directors' fee increase amid criticism
Friday, 30 October 2015, 2:40 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Spark New Zealand, the telecommunications operator, has pulled a proposal to boost directors' fees by 5 percent, after negative feedback from shareholders and general sensitivity to hikes in board payments. More >>
PGC's Torchlight sells UK newspaper group for $45 mln
Friday, 30 October 2015, 2:24 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Torchlight Fund LP, a subsidiary of financial services firm Pyne Gould Corp, has sold its stake in UK newspaper group Local World for about $45 million. More >>
Deutsche leaves footprint in NZ, Infinz says
Friday, 30 October 2015, 1:46 pm | BusinessDesk
Deutsche Bank's Craigs tie-up leaves footprint in NZ after exit of securities trading arm, Infinz says More >>
NZ businesses return to upbeat outlook on recovering dairy
Friday, 30 October 2015, 1:35 pm | BusinessDesk
Oct. 30 (BusinessDesk) - New Zealand firms returned to an upbeat outlook in October, as signs of recovery in dairy prices saw firms more confident about their own profitability and plans to hire and invest more in their businesses. More >>
CORRECT: Fonterra appoints Clinton Dines to board
Friday, 30 October 2015, 1:22 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Clinton Dines, a former BHP Billiton executive, has been appointed an independent director to Fonterra Cooperative Group's board as the world's largest dairy exporter replaces Ralph Norris. More >>
Glerups extends wool contract with NZ Merino through 2017
Friday, 30 October 2015, 12:20 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Glerups, the Danish woollen slipper maker, has extended its contract with New Zealand woolgrowers to meet increased demand for its product. More >>
Fonterra board appoints Colin Dines to replace Ralph Norris
Friday, 30 October 2015, 12:00 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Colin Dines, a former BHP Billiton executive, has been appointed an independent director to Fonterra Cooperative Group's board as the world's largest dairy exporter replaces Ralph Norris. More >>
NZ residential building consents fall 5.7% in September
Friday, 30 October 2015, 11:58 am | BusinessDesk
Oct. 30 (BusinessDesk) - New Zealand residential building consents fell for a second month in September as activity recovers from a spike higher in July. More >>
