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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 712]
Briscoe lifts third-quarter sales 7.1%
Friday, 30 October 2015, 11:55 am | BusinessDesk
Oct. 30 (BusinessDesk) - Briscoe Group, whose hostile takeover of Kathmandu Holdings was spurned earlier this year, lifted third-quarter sales 7.1 percent, with bigger gains in its sporting goods stores, and anticipates increasing annual profit for ... More >>
JBS offer for control of Scott Technology at $1.39
Friday, 30 October 2015, 11:34 am | BusinessDesk
Oct. 30 (BusinessDesk) - Brazilian meat processor JBS's $1.39 a share offer to buy at least half of local robotics manufacturer Scott Technology is a premium to the valuation settled on by an independent adviser, but falls short of the current market ... More >>
NZX boosts 3Q sales 13% as SuperLife purchase pays off
Friday, 30 October 2015, 10:14 am | BusinessDesk
Oct. 30 (BusinessDesk) - NZX, the stock exchange operator, lifted revenue 13 percent in the third quarter, as its recently acquired fund management business, SuperLife boosted income. More >>
Milford Active Growth Fund invests up to $10M in Coretex
Friday, 30 October 2015, 10:04 am | BusinessDesk
Oct. 29 (BusinessDesk) - Milford Asset Management’s Active Growth Fund has invested $6 million and underwritten a further $4 million if required in Coretex, a telematics company newly-formed by the merger of International Telematics Holdings and Imarda. More >>
NZ, EU agree to start talks on free-trade agreement
Friday, 30 October 2015, 9:29 am | BusinessDesk
Oct. 30 (BusinessDesk) - New Zealand and the European Union agreed to start talks on a free-trade agreement, in an attempt to boost trade and investment. More >>
OceanaGold 3Q profit drops 59% on Didipio shutdown
Friday, 30 October 2015, 9:21 am | BusinessDesk
Oct. 30 (BusinessDesk) - OceanaGold, which operates gold mines in Otago and Waihi, reported a 59 percent drop in third-quarter profit as planned maintenance reduced copper production at its Didipio mine in the Philippines, weighing on revenue. More >>
NZ dollar rises as greenback slips from post-FOMC gains
Friday, 30 October 2015, 8:34 am | BusinessDesk
Oct. 30 (BusinessDesk) - The New Zealand dollar edged higher as the US dollar retreated from its earlier surge after the Federal Reserve signalled US interest rates could rise in December. More >>
While you were sleeping: US rate lift bets
Friday, 30 October 2015, 7:37 am | BusinessDesk
Oct. 30 (BusinessDesk) - Wall Street and US Treasuries fell after a report on US economic growth showed the Federal Reserve might have enough reason to lift interest rates at its December gathering. More >>
MARKET CLOSE: NZ stocks edge up to new high
Thursday, 29 October 2015, 5:34 pm | BusinessDesk
MARKET CLOSE: NZ stocks edge up to new high, led by Freightways climbs on upbeat trading update More >>
Australia's cloud passports only "conceptual" for now: DIA
Thursday, 29 October 2015, 5:31 pm | BusinessDesk
Oct. 29 (BusinessDesk) - The Department of Internal Affairs says it has discussed the idea of a passport-free travel system at a “conceptual level” with the Australian Department of Foreign Affairs and Trade, but that is as far as the concept has progressed. More >>
Moody's pulls Wellington Airport credit rating
Thursday, 29 October 2015, 5:25 pm | BusinessDesk
Oct. 29 (BusinessDesk) - Moody's Investors Service, the global rating agency, has withdrawn its A2 rating for Wellington International Airport for its own business reasons. More >>
Veritas reports no luck selling Mad Butcher franchises
Thursday, 29 October 2015, 5:18 pm | BusinessDesk
Oct. 29 (BusinessDesk) - Veritas Investments, the food and beverages retailer, says it had no success selling Mad Butcher outlets currently for sale and that the cut-price meat chain continues to face a "challenging" environment. More >>
NZ dollar gains from post-Fed low as RBNZ waits and sees
Thursday, 29 October 2015, 5:16 pm | BusinessDesk
Oct. 29 (BusinessDesk) - The New Zealand dollar rebounded from its selloff at the start of the day when the US Federal Reserve signalled it may raise interest rates in December, as traders assessed the scope for the local Reserve Bank to cut its ... More >>
Pyne Gould chairman Mogridge quits 'for personal reasons'
Thursday, 29 October 2015, 4:39 pm | BusinessDesk
Oct. 29 (BusinessDesk) - Pyne Gould Corp chairman Bryan Mogridge has left the financial services firm effective from today "for personal reasons", while the company contends with its second share trading suspension in as many years. More >>
Two ex-Thermakraft staff plead guilty to taking kickbacks
Thursday, 29 October 2015, 4:34 pm | BusinessDesk
Oct. 29 (BusinessDesk) - Two former employees of building products company Thermakraft Industries (NZ) have pleaded guilty to fraud and corruption charges laid by the Serious Fraud Office for secretly receiving kickbacks, after appearing in the Auckland District ... More >>
AgResearch to cut 78 staff to keep to government target
Thursday, 29 October 2015, 4:06 pm | BusinessDesk
Oct. 29 (BusinessDesk) - AgResearch, the crown research institute, will cut 78 staff, five fewer than first flagged a month ago, as the government puts pressure on the science body to deliver more bang for its taxpayer-funded buck. More >>
NYSE-listed Watts Water takes 80% stake in Apex Valves
Thursday, 29 October 2015, 2:36 pm | BusinessDesk
Oct. 29 (BusinessDesk) - Watts Water Technologies, the US plumbing and heater manufacturer, has bought a majority stake in New Zealand manufacturer Apex Valves for US$22 million, as it looks to expand into the Asia-Pacific. More >>
KiwiRail pushing for NZTA to fund rail network
Thursday, 29 October 2015, 2:08 pm | BusinessDesk
Oct. 29 (BusinessDesk) - State-owned KiwiRail is pressing the New Zealand Transport Authority to take over funding the national railway network and believes it has Transport Minister Simon Bridges onside in a way not true of his predecessors, Gerry Brownlee ... More >>
NZOG, flush with cash, targets undervalued assets
Thursday, 29 October 2015, 2:01 pm | BusinessDesk
Oct. 29 (BusinessDesk) - New Zealand Oil & Gas, which has about $100 million of cash and no debt, is seeking to benefit from a slump in oil prices to hoover up undervalued energy assets. More >>
Ebos directors Kraus, Wallace sell down stake
Thursday, 29 October 2015, 12:48 pm | BusinessDesk
Oct. 29 (BusinessDesk) - Barry Wallace and Peter Kraus, directors in Ebos Group, have reduced their stake in the animal and healthcare products company as the share price trades near record highs. More >>
