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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 756]
UPDATE: Datacom topples Spark as NZ's biggest IT provider
Tuesday, 18 August 2015, 4:07 pm | BusinessDesk
Aug. 18 (BusinessDesk) - Datacom, the privately-held IT services firm, surpassed Spark New Zealand as the country's biggest information technology services provider, lifting annual revenue 6.3 percent in a growing footprint on both sides of the Tasman. More >>
Auditor-General to probe Saudi model farm deal
Tuesday, 18 August 2015, 2:59 pm | BusinessDesk
Aug. 18 (BusinessDesk) - The Auditor-General is mounting a probe into the Saudi Arabian agri-hub created at a cost of $15.5 million to the taxpayer in 2013 as part of efforts to restore relations with Saudi Arabia after the New Zealand government confirmed ... More >>
Dick Smith's NZ annual profit drops
Tuesday, 18 August 2015, 1:19 pm | BusinessDesk
Aug. 18 (BusinessDesk) - Dick Smith Holdings, the Australian consumer electronics chain, said its New Zealand unit reported a 71 percent slump in annual profit after a "challenging year". More >>
First phase of GST on e-commerce misses physical goods
Tuesday, 18 August 2015, 12:49 pm | BusinessDesk
Aug. 18 (BusinessDesk) - Charging GST on TV, music and online services looks to be much easier than collecting GST on low-value items such as books, shoes and clothes, judging by the government's first discussion document on applying GST to e-commerce ... More >>
ANZ New Zealand 9-month profit flat, impairment charges up
Tuesday, 18 August 2015, 12:47 pm | BusinessDesk
Aug. 18 (BusinessDesk) - Australia & New Zealand Banking Group's local unit reported a flat nine-month profit as an increase in charges on bad debts outpaced the lender's gains in interest income. More >>
UPDATE: Trilogy shares jump 12% to record on acquisition
Tuesday, 18 August 2015, 12:46 pm | BusinessDesk
Aug. 18 (BusinessDesk) - Trilogy International shares jumped 12 percent to a record after the skincare products and scented candle maker agreed to buy privately held CS Company, New Zealand's largest independent importer and distributor of fragrances, ... More >>
Dairy prices set for 'substantial recovery' by mid-2016
Tuesday, 18 August 2015, 12:44 pm | BusinessDesk
Aug. 18 (BusinessDesk) - Dairy prices, which have slumped to a six-year low, are set for a substantial recovery by mid-2016, according to agri banking specialist Rabobank. More >>
Mercantile falls short in takeover bid for Ask Funding
Tuesday, 18 August 2015, 12:43 pm | BusinessDesk
Aug. 18 (BusinessDesk) - Veteran corporate raider Ron Brierley's Mercantile Investment has fallen short in its bid to takeover ASX-listed Ask Funding, getting 72 percent of its shares despite having sweetened the deal to shareholders and winning over ... More >>
Meat industry shareholder groups merge to push their case
Tuesday, 18 August 2015, 12:42 pm | BusinessDesk
Aug. 18 (BusinessDesk) - The two shareholder groups representing Silver Fern Farms and Alliance farmers have joined forces in a bid to encourage the two meat cooperatives to follow suit and work collaboratively. More >>
SeaDragon to raise up to $9 mln in rights issue
Tuesday, 18 August 2015, 12:40 pm | BusinessDesk
Aug. 18 (BusinessDesk) - SeaDragon, which manufactures fish oil for health supplements, wants to raise as much as $9 million through a discounted rights issue to help finish building its Nelson refinery, which has gone over-budget. More >>
Trilogy to buy CS Company for $37M to help drive growth
Tuesday, 18 August 2015, 12:39 pm | BusinessDesk
Aug. 18 (BusinessDesk) - Trilogy International, the skincare products and scented candle maker, agreed to buy privately held CS Company, New Zealand's largest independent importer and distributor of fragrances, cosmetics and toiletries, for $37 million ... More >>
NZ dollar gains ahead of expected pick-up in dairy auction
Tuesday, 18 August 2015, 12:38 pm | BusinessDesk
Aug. 18 (BusinessDesk) - The New Zealand dollar rose ahead of tonight's GlobalDairyTrade auction amid expectations whole milk powder prices may gain, boosting the outlook for the nation's key export commodity. More >>
While you were sleeping: Housing boosts US stocks
Tuesday, 18 August 2015, 12:37 pm | BusinessDesk
Aug. 18 (BusinessDesk) - A better-than-expected report on US housing bolstered Wall Street, outweighing disappointing manufacturing data, and underpinning the focus on the minutes of the July Federal Reserve meeting, due to be released on Wednesday. More >>
Datacom annual profit halves as asset sale washes through
Tuesday, 18 August 2015, 12:28 pm | BusinessDesk
Aug. 18 (BusinessDesk) - Datacom, the privately-held IT services firm, reported a 53 percent drop in annual profit as a one-off gain from the sale of its Asian call centres washed through the company's accounts. More >>
PM Key backs banks after S&P warning over Auckland property
Monday, 17 August 2015, 6:17 pm | BusinessDesk
Aug. 17 (BusinessDesk) - Prime Minister John Key is confident the country's lenders are strong enough to weather a downturn in Auckland if the property market in New Zealand's biggest city has a correction. More >>
Landcorp board in talks with ministers over debt levels PM
Monday, 17 August 2015, 5:56 pm | BusinessDesk
Aug. 17 (BusinessDesk) - The board of state-owned farming operator Landcorp Farming is in active discussions with ministers over its levels of debt, but isn't in as big a hole as failed coal-miner Solid Energy, according to Prime Minister John Key. More >>
Key names iTunes, Netflix in e-commerce tax review
Monday, 17 August 2015, 5:39 pm | BusinessDesk
Aug. 17 (BusinessDesk) - The government will launch a discussion document tomorrow on how to target tax offshore online shopping, TV and music, which is already costing about $180 million a year in avoided GST and rising, says Prime Minister John Key. More >>
MARKET CLOSE: NZ shares rise; Spark, Freightways gain
Monday, 17 August 2015, 5:36 pm | BusinessDesk
Aug. 17 (BusinessDesk) - New Zealand share rose, snapping seven consecutive days of declines, on optimism the earnings season is relatively strong. Spark New Zealand lead gainers and Freightways advanced after reporting stronger profit. More >>
NZ dollar little changed, may gain with dairy prices
Monday, 17 August 2015, 5:31 pm | BusinessDesk
Aug. 17 (BusinessDesk) - The New Zealand dollar was little changed, with Tuesday night's dairy auction seen as a potential short-term fillip for a currency that will become less attractive as local interest rates fall and the US Federal Reserve hikes. More >>
NZ Dollar Outlook: Kiwi may advance on better dairy prices
Monday, 17 August 2015, 12:53 pm | BusinessDesk
Aug. 17 (BusinessDesk) - The New Zealand dollar may gain this week on speculation dairy prices could rise from their lows, while traders see little data on the horizon likely to drive the currency lower. More >>
