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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 713]
Freightways shareholders scrutinise rise in directors fees
Thursday, 29 October 2015, 12:36 pm | BusinessDesk
Oct. 29 (BusinessDesk) - A 7.5 percent increase in directors' fees came under scrutiny by Freightways shareholders today – a trend evidenced at other annual general meetings this year - as the company gave a first-quarter trading update showing profit rose ... More >>
Turners builds MTF stake to 7.6%, talks to other holders
Thursday, 29 October 2015, 11:10 am | BusinessDesk
Oct. 29 (BusinessDesk) - Turners, the company formerly known as Dorchester Pacific, has built up a 7.6 percent stake in Motor Trade Finances and is in talks with other shareholders after its offer to buy up to a fifth of the auto-lender closed earlier ... More >>
RBNZ's 'watch and wait' language boosts kiwi dollar
Thursday, 29 October 2015, 11:04 am | BusinessDesk
Oct. 29 (BusinessDesk) - The New Zealand dollar rebounded after the Reserve Bank left interest rates on hold and warned the currency's recent appreciation may keep rates low, as traders took Governor Graeme Wheeler's "watch and wait" language ... More >>
ANZ New Zealand full-year cash profit rises 0.3%
Thursday, 29 October 2015, 11:03 am | BusinessDesk
Oct. 29 (BusinessDesk) - ANZ Bank New Zealand, the nation's biggest lender, recorded a 0.3 percent gain in full-year cash profit, as growth in lending made up for a decline in net interest margin. More >>
Restaurant Brands boosts 1H profit 17% on fried chicken
Thursday, 29 October 2015, 9:21 am | BusinessDesk
Oct. 29 (BusinessDesk) - Restaurant Brands New Zealand, the country's largest listed fast food operator, boosted first-half profit 17 percent on increased sales of fried chicken at KFC and more Carl's Jr stores. More >>
RBNZ keeps OCR on hold, warns high kiwi may see lower rates
Thursday, 29 October 2015, 9:15 am | BusinessDesk
Oct. 29 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged, while reiterating another cut is likely and warning that a recent gain in the kiwi dollar could restrain inflation, adding to the case for a lower ... More >>
NZ dollar drops after Fed keeps December rate hike alive
Thursday, 29 October 2015, 8:18 am | BusinessDesk
Oct. 29 (BusinessDesk) - The New Zealand dollar dropped after the US Federal Reserve signalled it could hike interest rates at its December meeting and traders await the Reserve Bank of New Zealand's rate decision this morning. More >>
While you were sleeping: Stocks pare advance on Fed
Thursday, 29 October 2015, 7:36 am | BusinessDesk
Oct. 29 (BusinessDesk) - Wall Street gave up some its earlier gains after the US Federal Reserve said it expects the economy will grow at a “moderate pace” and it kept alive the possibility of a rate hike at its next meeting in December. More >>
Kiwi tech companies show record growth in 2015
Wednesday, 28 October 2015, 8:21 pm | BusinessDesk
Oct. 28 (BusinessDesk) - New Zealand’s technology export sector had record sales growth of $609 million, or 7.3 percent, in 2015 based on the 200 companies listed in the annual TIN100 Report, which chalked up combined revenue of almost $9 billion. More >>
BNZ expects robust business credit growth to continue in '16
Wednesday, 28 October 2015, 6:04 pm | BusinessDesk
Oct. 28 (BusinessDesk) - Bank of New Zealand, the country's third-biggest bank by gross loans, expects business credit growth to remain robust in the coming year, with a number of sectors experiencing strong economic conditions, despite the woes ... More >>
MARKET CLOSE: NZX 50 slips from record as F&P, Ebos decline
Wednesday, 28 October 2015, 5:37 pm | BusinessDesk
MARKET CLOSE: NZX 50 slips from record as F&P, Ebos decline; Skellerup jumps on upgraded earnings More >>
Skellerup bullish on profit prospects
Wednesday, 28 October 2015, 5:25 pm | BusinessDesk
Oct. 28 (BusinessDesk) - Skellerup Holdings, the rubber goods company, expects annual profit to grow as much as 19 percent as its investment in the US market over the past three years begins to pay off. More >>
NZ dollar gains vs. Australian dollar on weak inflation
Wednesday, 28 October 2015, 5:07 pm | BusinessDesk
NZ dollar gains vs. Australian dollar as weak inflation builds case for RBA rate cut; RBNZ, Fed loom More >>
Little sign NZ Inc is focusing on '99% certain' El Nino
Wednesday, 28 October 2015, 3:22 pm | BusinessDesk
Oct. 28 (BusinessDesk) - New Zealand may be heading for a "super El Nino" weather pattern this summer, reminiscent of 1997/98 when drought parched the east of the country and sapped agricultural production, but there's little sign that risk ... More >>
Skellerup expects profit growth of up to 19% on gains in US
Wednesday, 28 October 2015, 2:29 pm | BusinessDesk
Oct. 28 (BusinessDesk) - Skellerup Holdings, the rubber goods firm, expects annual profit to grow as much as 19 percent as its investment in the US market begins to deliver returns. More >>
Fonterra restructures, NZ consumer foods under Aussie boss
Wednesday, 28 October 2015, 12:04 pm | BusinessDesk
Oct. 28 (BusinessDesk) - Fonterra Cooperative Group's local consumer businesses will come under the purview of Australian managing director Judith Swales in the latest restructure at the world's biggest dairy exporter. More >>
BNZ annual cash earnings rise 7.9%, dairy write-downs grow
Wednesday, 28 October 2015, 11:38 am | BusinessDesk
BNZ annual cash earnings rise 7.9% as increased lending, fatter margins offset dairy write-downs More >>
RBNZ warns Kiwibank over gap in money-laundering checks
Wednesday, 28 October 2015, 11:35 am | BusinessDesk
Oct. 28 (BusinessDesk) - Kiwibank, the government-owned lender, has been formally warned by the Reserve Bank of New Zealand for a year-long period when it didn't have appropriate risk assessment measures in place to meet anti-money laundering legislation. More >>
PGG Wrightson says annual earnings to fall as much as 12%
Wednesday, 28 October 2015, 9:27 am | BusinessDesk
PGG Wrightson says annual earnings to fall as much as 12% as dairy woes weigh More >>
NZ dollar little changed ahead of FOMC, RBNZ rate reviews
Wednesday, 28 October 2015, 8:26 am | BusinessDesk
Oct. 28 (BusinessDesk) - The New Zealand dollar was little changed as traders await tomorrow's interest rate decisions from the Federal Reserve and the Reserve Bank of New Zealand. More >>
