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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 753]
NZ wool prices steady as demand, supply still in balance
Friday, 21 August 2015, 3:46 pm | BusinessDesk
Aug. 21 (BusinessDesk) - New Zealand wool prices held steady at auction as good demand and limited supply conditions continue. More >>
NZ credit card spending posts biggest annual gain since 2008
Friday, 21 August 2015, 3:35 pm | BusinessDesk
Aug. 21 (BusinessDesk) - New Zealand spending on credit cards rose for a seventh month in July, posting its biggest annual gain since January 2008, before the global financial crisis set in and eroded households' appetite to take on debt. More >>
Reserve Bank delays LVR implementation by one month
Friday, 21 August 2015, 1:49 pm | BusinessDesk
Aug. 21 (BusinessDesk) - The Reserve Bank of New Zealand will give the country's banks an extra month to implement system changes required to impose new lending restrictions on Auckland residential property investors. More >>
IAG NZ boosts profit on Lumley acquisition
Friday, 21 August 2015, 1:29 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Insurance Australia Group's New Zealand unit, the country's biggest general insurer, lifted annual profit 20 percent and gross written premiums 19 percent as it benefited from the acquisition of Lumley Insurance last year. More >>
Spark shares jump to four-month high on fatter dividend
Friday, 21 August 2015, 1:12 pm | BusinessDesk
Spark shares jump to four-month high on fatter dividend as CEO Moutter chases revenue growth More >>
UPDATE: Sky TV boosts annual profit 6.4%, reaps more revenue
Friday, 21 August 2015, 12:35 pm | BusinessDesk
(Adds earnings expectation in 2nd paragraph, share price in 3rd paragraph, CEO comment starting in 5th paragraph, broker comment in 7th paragraph.) More >>
Queenstown Airport boosts profit 25%, as Qlders come to ski
Friday, 21 August 2015, 12:06 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Queenstown Airport Corp, New Zealand's fourth busiest airport, boosted annual profit 25 percent, as trans-Tasman passenger numbers rose by a third and domestic passengers topped the million mark for the first time. More >>
More record NZ migration figures as 3 mln visitors arrive
Friday, 21 August 2015, 11:42 am | BusinessDesk
Aug. 21 (BusinessDesk) - New Zealand annual net migration rose to a fresh record in July, rounding out a year of record immigration gains, as more Indian students arrive, increasing numbers of kiwis return from Australia and more than 3 million ... More >>
Dean Foods probe may have scuppered A2 takeover
Friday, 21 August 2015, 11:17 am | BusinessDesk
Aug. 21 (BusinessDesk) - An insider trading investigation into A2 Milk Co suitor, US-based Dean Foods, is understood to have scuppered its involvement with Australian-based Freedom Foods in a potential takeover of the specialty milk marketer. More >>
UPDATE: Spark FY announces special dividend intentions
Friday, 21 August 2015, 9:50 am | BusinessDesk
Aug. 21 (BusinessDesk) - Spark New Zealand, formerly known as Telecom Corp, posted a 19 percent decline in annual profit, reflecting one-off gains the previous year's sale of its Australian mobile business, AAPT, while underlying earnings were up as ... More >>
Sky TV boosts annual profit 6.4%
Friday, 21 August 2015, 9:32 am | BusinessDesk
Aug. 21 (BusinessDesk) - Sky Network Television, New Zealand's dominant pay-TV company, boosted annual profit 6.4 percent as it reaped more revenue from fewer customers. More >>
NZX named preferred supplier by Electricity Authority
Friday, 21 August 2015, 9:14 am | BusinessDesk
Aug. 21 (BusinessDesk) - NZX, the stock market operator, has been named preferred supplier by Electricity Authority to continue managing all its market operations, including pricing, clearing and wholesale information. More >>
Spark FY announces special dividend on lift in post-AAPT
Friday, 21 August 2015, 8:55 am | BusinessDesk
Aug. 21 (BusinessDesk) - Spark New Zealand, formerly known as Telecom Corp, posted a 19 percent decline in annual profit, reflecting one-off gains the previous year's sale of its Australian mobile business, AAPT, while underlying earnings were up as ... More >>
NZ dollar gains as traders pare bets on Fed hikes
Friday, 21 August 2015, 8:37 am | BusinessDesk
Aug. 21 (BusinessDesk) - The New Zealand dollar gained as traders pare back bets for the Federal Reserve to hike interest rates next month following the release of minutes to its last meeting, amid turmoil in global markets. More >>
While you were sleeping: Wall Street slides
Friday, 21 August 2015, 8:05 am | BusinessDesk
Aug. 21 (BusinessDesk) - Wall Street dropped, along with equities in Europe, amid concern about China’s slowing economic growth and its impact on the worldwide economy. More >>
MARKET CLOSE: NZ shares fall as A2 Milk disappoints
Thursday, 20 August 2015, 5:36 pm | BusinessDesk
Aug. 20 (BusinessDesk) - New Zealand shares fell, led by A2 Milk Co after the milk marketer failed to update investors on any takeover action. Skellerup Holdings and Trade Me Group advanced after reporting better than expected full year earnings. More >>
NZ dollar may push higher as Fed rate hike seems less likely
Thursday, 20 August 2015, 5:12 pm | BusinessDesk
NZ dollar may push higher as Fed rate hike seems less likely By Paul McBeth More >>
South Port lifts annual profit 16% on bigger volumes
Thursday, 20 August 2015, 4:18 pm | BusinessDesk
Aug. 20 (BusinessDesk) - South Port New Zealand, the Bluff port operator, lifted annual profit 16 percent as stronger cargo flows bolstered the hub's volumes, though the company anticipates the slowing economy will sap earnings in 2016. More >>
Brazil's JBS makes offer for 50.1% of Scott Technology
Thursday, 20 August 2015, 3:52 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Brazilian meat processor JBS is offering a 4.5 percent premium to buy a controlling stake in industrial automation manufacturer Scott Technology as part a capital raising to cut the Dunedin-based company's debt levels. More >>
UPDATE: Trade Me annual profit flat
Thursday, 20 August 2015, 2:58 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Trade Me, New Zealand's largest online auction site, posted a 2015 profit largely unchanged from 2014 as increased spending ate into bigger revenues. Earnings will continue on a similar path this year as it invests in new ventures. More >>
