Scoop has an Ethical Paywall
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 751]
NZ whole milk powder future decline amid equities slump
Tuesday, 25 August 2015, 1:24 pm | BusinessDesk
Aug. 25 (BusinessDesk) - New Zealand whole milk powder futures declined, paring their earlier gains, after concerns about slower growth in China pushed down global equity markets. More >>
Unlisted granted ministerial exemption from FMCA
Tuesday, 25 August 2015, 12:43 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Unlisted, the share trading platform, has been granted an exemption from licensing requirements of the Financial Markets Conduct Act by Commerce Minister Paul Goldsmith. More >>
Genesis 'comfortable' for now with Huntly closure decision
Tuesday, 25 August 2015, 11:28 am | BusinessDesk
Aug. 25 (BusinessDesk) - Genesis Energy still plans to close the remaining 500 Megawatts of ageing gas and coal-fired electricity generation capacity at its Huntly power station in 2018, in spite of last week's surprise decision by Contact Energy to close ... More >>
Mercer, worst-performing stock on NZX this year, widens loss
Tuesday, 25 August 2015, 10:36 am | BusinessDesk
Aug. 25 (BusinessDesk) - Mercer Group, the stainless steel fabricator and manufacturer, widened its annual loss after only one of its units turned a profit and it wrote down the value of its assets. More >>
Morrison & Co-linked fund raises 1.87B RMB for renewables
Tuesday, 25 August 2015, 10:12 am | BusinessDesk
Aug. 25 (BusinessDesk) - HRL Morrison & Co subsidiary JIDA Capital Partners and Shenzhen-based CGN Private Equity Fund Management have raised 1.87 billion Chinese yuan (NZ$451.7 million) from institutional investors to launch a new fund focusing ... More >>
Genesis Energy in hunt for new CEO
Tuesday, 25 August 2015, 9:55 am | BusinessDesk
Aug. 25 (BusinessDesk) - Energy industry veteran Albert Brantley is to retire as chief executive of Genesis Energy at the end of the 2016 financial year, the electricity company's chair, Jenny Shipley announced. More >>
SLI widens annual loss, sales slow
Tuesday, 25 August 2015, 9:55 am | BusinessDesk
Aug. 25 (BusinessDesk) - SLI Systems widened its annual loss while sales met the reduced guidance it gave in April, after the online retail search engine developer reorganised its sales team and was impacted by a weaker Brazilian economy More >>
Steel & Tube continues acquisition drive, buying Aquaduct NZ
Tuesday, 25 August 2015, 9:55 am | BusinessDesk
Steel & Tube Holdings, New Zealand's biggest steel distribution company, has continued its drive to grow through acquisitions, buying Aquaduct NZ out of receivership for about $8 million cash. More >>
CORRECT: Genesis Energy ups dividends on cash flow growth
Tuesday, 25 August 2015, 9:21 am | BusinessDesk
Aug. 25 (BusinessDesk) - Genesis Energy became the latest electricity company to increase its distributions to shareholders as it reported a 113 percent increase in net profit of $104.8 million on marginally increased revenues of $2.1 billion ... More >>
Wynyard 1H loss widens as sales climb 39%
Tuesday, 25 August 2015, 9:17 am | BusinessDesk
Wynyard 1H loss widens as sales climb 39%, says stock price doesn't reflect value More >>
Genesis Energy ups dividends as free cash flow increases
Tuesday, 25 August 2015, 9:06 am | BusinessDesk
Aug. 25 (BusinessDesk) - Genesis Energy became the latest electricity company to increase its distributions to shareholders as it reported a 113 percent increase in net profit of $104.8 million on marginally increased revenues of $2.1 billion ... More >>
NZ dollar slumps to 62 US cts amid volatile trading
Tuesday, 25 August 2015, 8:39 am | BusinessDesk
Aug. 25 (BusinessDesk) - The New Zealand dollar slumped to its lowest level in six years as equities sank amid concerns about global growth. More >>
While you were sleeping: Panic seizes global markets
Tuesday, 25 August 2015, 7:00 am | BusinessDesk
Aug. 25 (BusinessDesk) - Wall Street pared losses, after plunging in the first 10 minutes of trading after Chinese stocks plummeted as investors rushed to the sidelines. More >>
SkyCity to sell up to $125 mln of bonds to repay bank debt
Monday, 24 August 2015, 5:57 pm | BusinessDesk
Aug. 24 (BusinessDesk) - SkyCity Entertainment Group, the country's only listed casino operator, plans to sell as much as $125 million of bonds, using the proceeds to repay bank debt. More >>
MARKET CLOSE: NZ stocks fall in sea of red; Xero plunges
Monday, 24 August 2015, 5:34 pm | BusinessDesk
Aug. 24 (BusinessDesk) - New Zealand shares dropped the most in four years in a global sell off after weak Chinese manufacturing data added to concern about the world's second-largest economy and sapped risk appetite. Xero plunged to its lowest level ... More >>
NZ dollar drops with stocks afte weak Chinese manufacturing
Monday, 24 August 2015, 5:19 pm | BusinessDesk
Aug. 24 (BusinessDesk) - The New Zealand dollar dropped back below 66 US cents as stocks across Asia followed Wall Street and Europe lower after weaker-than-expected Chinese manufacturing data last week reignited concern the world's second-biggest ... More >>
FMA expects flood of appeals of FSP deregistration
Monday, 24 August 2015, 5:03 pm | BusinessDesk
FMA expects flood of appeals of FSP deregistration, as Wewege's firm becomes test case More >>
NZ Steel, iron sands mines on notice in Bluescope NZ review
Monday, 24 August 2015, 3:49 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Australian steel products group Bluescope is to review its steelmaking operations in both Australia and New Zealand, saying it needs "game-changing" savings in operating costs or it may stop making making hot rolled coil and billets ... More >>
Nib NZ reverses decade of policy-holder decline
Monday, 24 August 2015, 3:44 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Nib New Zealand, the local arm of the Australian private health insurer nib, has turned around more than a decade of policy-holder decline, growing customers by 5.9 percent to 83,775 in the 2015 financial year. More >>
CallPlus $253 mln price tag largely goodwill
Monday, 24 August 2015, 3:30 pm | BusinessDesk
Aug. 24 (BusinessDesk) - ASX-listed telecommunications firm M2 Group attributed just a fifth of the A$253 million it paid for local fixed line and broadband services provider CallPlus to identifiable net assets, with the bulk going towards goodwill. More >>
