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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 733]
AgResearch confirms 83 lay-offs, hires 27 for new roles
Thursday, 24 September 2015, 5:03 pm | BusinessDesk
Sept. 24 (BusinessDesk) - AgResearch has confirmed speculation it is axing jobs, announcing plans to lay off 83 scientists and technicians because of declining investment in some areas of research and development, while hiring 27 for new roles. More >>
Fonterra Shareholders' Council: 2015 payout disappointing
Thursday, 24 September 2015, 3:24 pm | BusinessDesk
Sept. 24 (BusinessDesk) - Fonterra Shareholders’ Council chairman Duncan Coull said the dairy company's final payout for the 2014/2105 season of $4.65 per kilogram of milk solids for fully shared up farmers is a disappointing result. More >>
Fonterra's advance payment for farmers 'right thing to do'
Thursday, 24 September 2015, 2:54 pm | BusinessDesk
Sept. 24 (BusinessDesk) - Fonterra Cooperative Group chairman John Wilson said supporting the cash flows of farmer suppliers hard-hit by slumping global dairy prices was "the right thing to do" even though it was one of the factors which added 6 cents ... More >>
Growing onshoring trend; PowerShield goes inhouse
Thursday, 24 September 2015, 2:27 pm | BusinessDesk
Sept. 24 (BusinessDesk) - Kiwi specialist battery monitoring firm PowerShield, whose customers include the likes of Nasa, Microsoft, and Huawei, is entering a joint venture with an experienced local manufacturer where both benefit from cost savings rather ... More >>
New chair oversees exodus from argumentative SeaDragon board
Thursday, 24 September 2015, 12:59 pm | BusinessDesk
Sept. 23 (BusinessDesk) - SeaDragon chairman Colin Groves presides over a board of mostly fresh faces in the wake of his appointment to the unprofitable fish oil company three months ago, after an exodus of directors. More >>
Carbon farmer appeals in MRP dispute case
Thursday, 24 September 2015, 12:29 pm | BusinessDesk
Sept. 24 (BusinessDesk) - New Zealand Carbon Farming, the country's largest supplier of post-1989 bulk carbon credits, is appealing a High Court decision which found in favour of Mighty River Power over a $34.7 million liability NZCF claims it's owed. More >>
Aug trade deficit up on plane imports; meat drives exports
Thursday, 24 September 2015, 11:36 am | BusinessDesk
Sept. 24 (BusinessDesk) - New Zealand's trade deficit was bigger than expected in August as one-off imports of aircraft widened the shortfall, even as international meat sales drove export growth to a record for the month. More >>
Fonterra reaps bigger margins from smaller sales in 2015
Thursday, 24 September 2015, 11:23 am | BusinessDesk
Sept. 24 (BusinessDesk) - Fonterra Cooperative Group's $2.1 billion investment in plant capacity has paid off in 2015, allowing the world's biggest dairy exporter to shift production to higher-margin products, while benefiting from a surge in returns ... More >>
Sanford writes down $6.5 mln from Australian operations
Thursday, 24 September 2015, 10:12 am | BusinessDesk
Sept. 24 (BusinessDesk) - Sanford, New Zealand's largest listed fishing group, has written down the value of its Australian operations in the latest tidying up of its books, which it says will give it a more focused approach to marketing across the ... More >>
GeoOp brings on two Aust investors in $2.4 mln placement
Thursday, 24 September 2015, 10:11 am | BusinessDesk
Sept. 24 (BusinessDesk) - GeoOp, the workforce management app developer, has raised $2.4 million in a private placement that brings on two new Australian investors, whose networks it says will open doors across the Tasman. More >>
ComCom lists online trading as the big consumer issue
Thursday, 24 September 2015, 10:00 am | BusinessDesk
Sept. 24 (BusinessDesk) - Online services and transactions attract the most complaints from consumers and pose regulatory challenges, the Commerce Commission says in its annual Consumer Issues report. More >>
DNZ raises $115 mln for Countdown sites purchase
Thursday, 24 September 2015, 9:09 am | BusinessDesk
Sept. 24 (BusinessDesk) - DNZ Property Fund, which is changing its name to Stride Property, has raised $115 million through the placement of new shares, which it will use to help fund the acquisition of a supermarket property portfolio for $287 million. More >>
Fonterra lifts 2015/16 milk payout forecast to $4.60/kgMS
Thursday, 24 September 2015, 8:59 am | BusinessDesk
Fonterra lifts 2015/16 milk payout forecast to $4.60/kgMS after full-year profit surges More >>
NZ dollar lifts as Fonterra forecast spurs gains in crosses
Thursday, 24 September 2015, 8:54 am | BusinessDesk
Sept. 24 (BusinessDesk) - The New Zealand dollar rose on an improved forecast payout by Fonterra Cooperative Group spurred the currency higher against most of the other cross rates, reversing an overnight slide against the greenback as global markets ... More >>
While you were sleeping: Focus back on Yellen
Thursday, 24 September 2015, 7:59 am | BusinessDesk
Sept. 24 (BusinessDesk) - Wall Street moved lower with commodity prices including crude as investors looked to Thursday’s speech by US Federal Reserve Chair Janet Yellen for clarity about policy makers’ take on the economic outlook at home and ... More >>
MARKET CLOSE: NZ shares fall in global selloff
Wednesday, 23 September 2015, 5:40 pm | BusinessDesk
Sept. 23 (BusinessDesk) - New Zealand shares fell in a global selloff driven by concerns Chinese economic growth is slowing. Orion Health Group, Westpac Banking Corp and Australia & New Zealand Banking Group declined. More >>
Kiwi falls as China manufacturing gauge hits 5 year low
Wednesday, 23 September 2015, 5:20 pm | BusinessDesk
Sept. 23 (BusinessDesk) - The New Zealand dollar extended its decline after a measure of Chinese manufacturing plunged to the lowest level since March 2009, driving down stock markets across Asia and weighing on growth-linked currencies such as the kiwi. More >>
Trilogy confident of servicing debt while expanding sales
Wednesday, 23 September 2015, 4:30 pm | BusinessDesk
Sept. 23 (BusinessDesk) - Trilogy International, the skincare products and scented candle maker, said its debt would reach $39 million in the first half ending this month, following the $37 million acquisition of privately-held fragrance and cosmetic ... More >>
Sky TV slimmed-down board seeks 27% hike to directors' fees
Wednesday, 23 September 2015, 4:25 pm | BusinessDesk
Sept. 23 (BusinessDesk) - Sky Network Television, the country's dominant pay-TV operator, will ask shareholders to lift the pool of directors' fees 27 percent for a slimmed-down board, saying it needs to pay more to attract and retain quality members. More >>
Fonterra director Farrelly replaces Norris on Fund board
Wednesday, 23 September 2015, 3:25 pm | BusinessDesk
Sept. 23 (BusinessDesk) - Fonterra Cooperative Group director Ian Farrelly will replace Ralph Norris as one of the dairy exporter's representatives on the board of the Fonterra Shareholders' Fund manager. More >>
