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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 757]
Contact's Pryke plans charm offensive for re-election
Monday, 17 August 2015, 12:15 pm | BusinessDesk
Aug. 17 (BusinessDesk) - Contact Energy's interim chairman, Phil Pryke, is planning a campaign of approaches to institutional and retail investors in the company as he oversees the search for a new chair and prepares for a likely battle to be re-elected ... More >>
UPDATE: Freightways FY profit rises 4%, sees 2016 headwinds
Monday, 17 August 2015, 12:12 pm | BusinessDesk
Aug. 17 (BusinessDesk) - Freightways, the logistics and courier business, lifted annual profit by 4 percent on increased sales from express packages, business mail, and information management, but warned New Zealand’s faltering economy is likely ... More >>
UPDATE: Fonterra earnings raise concern about milk price
Monday, 17 August 2015, 12:06 pm | BusinessDesk
Aug. 17 (BusinessDesk) - Fonterra Cooperative Group's earnings have declined since the current milk price calculation was introduced, and are lagging behind that of the regulator's notional producer, raising questions about the setting of the base ... More >>
NZX may stop flagging price-sensitive announcements
Monday, 17 August 2015, 11:50 am | BusinessDesk
NZX may stop flagging price-sensitive announcements in review of trading halt rules, seeks feedback More >>
'Disappointing' FY2015 a watershed year for Contact Energy
Monday, 17 August 2015, 11:16 am | BusinessDesk
Aug. 17 (BusinessDesk) - Contact Energy will look back on a "disappointing" financial performance in the year ended June 30 and see it as a transitional period, chief executive Dennis Barnes said as the company posted a 43 percent decline in ... More >>
NZ service sector activity slows in July
Monday, 17 August 2015, 11:13 am | BusinessDesk
Aug. 17 (BusinessDesk) - Activity in New Zealand's service sector, which accounts for about two-thirds of the economy, expanded at a slower pace in July from the previous month, as falling dairy prices and flattening residential building work weighed on ... More >>
Freightways lifts FY profit 4%, as all divisions boost sales
Monday, 17 August 2015, 10:21 am | BusinessDesk
Aug. 17 (BusinessDesk) - Freightways, the logistics and courier business, lifted annual profit by 4 percent, on the back of increased sales from express packages, business mail and information management. More >>
Chorus says regulator understates network pricing costs
Monday, 17 August 2015, 9:34 am | BusinessDesk
Aug. 17 (BusinessDesk) - Chorus has made a further submission to the Commerce Commission ahead of the final determination on pricing of its copper network, saying the regulator's model understates costs, including the cost of trenching needed to bury underground ... More >>
Fonterra's 2014/15 milk price is in line with legislation
Monday, 17 August 2015, 9:19 am | BusinessDesk
Aug. 17 (BusinessDesk) - Fonterra Cooperative Group's 2014/15 base milk price is in line with the legislation which merged New Zealand's biggest dairy cooperatives and created the world's largest milk exporter, says the Commerce Commission. More >>
Tower's outgoing CEO Hancock gets $500k long-term payment
Monday, 17 August 2015, 9:02 am | BusinessDesk
Aug. 17 (BusinessDesk) - Tower, the general insurer, said departing chief executive David Hancock will get a long-term incentive payment of $500,000, as well as a short-term incentive payment. More >>
Pryke to step away from Contact chair: new skills needed
Monday, 17 August 2015, 8:50 am | BusinessDesk
Aug. 17 (BusinessDesk) - Contact Energy's interim chairman and longest-serving director, Phil Pryke, will not stand again for the chairmanship of the company he helped form in 1995. More >>
NZ dollar little changed as traders await Fed minutes for US
Monday, 17 August 2015, 8:45 am | BusinessDesk
Aug. 17 (BusinessDesk) - The New Zealand dollar was little changed as markets await the release of the US Federal Reserve's minutes on Wednesday for a clue as to whether US interest rates will rise next month. More >>
Canada pips China as biggest source of direct investment
Monday, 17 August 2015, 7:43 am | BusinessDesk
Aug. 17 (BusinessDesk) - Canada eclipsed China as the biggest source of foreign direct investment in New Zealand in the past two years, after the Public Sector Pension Investment Board bought a property portfolio from AMP Capital Investors and acquired ... More >>
World Week Ahead: Fed minutes in focus
Monday, 17 August 2015, 6:51 am | BusinessDesk
Aug. 17 (BusinessDesk) - Following a week in which China’s surprise currency devaluation rocked global markets, investors will eye the minutes from the latest Federal Reserve meeting to gauge whether the US central bank will lift interest rates next month. More >>
Landcorp rejects suggestion low prices will prompt review
Sunday, 16 August 2015, 9:14 am | BusinessDesk
Aug. 16 (BusinessDesk) - Landcorp Farming has rejected a suggestion by Finance Minister Bill English that low dairy prices could prompt the state-owned farmer to scale back its dairy conversion on the 26,000 hectare Wairakei Estate north of Taupo, which ... More >>
FMA gains asset preservation orders over assets of PTT
Friday, 14 August 2015, 5:39 pm | BusinessDesk
Aug. 14 (BusinessDesk) - The Financial Markets Authority secured interim asset preservation orders from the High Court in Auckland over the assets of PTT Limited, Steven Robertson and associated entities, as part of an ongoing investigation. More >>
MARKET CLOSE: NZ shares fall on China fears; Spark, ANZ drop
Friday, 14 August 2015, 5:32 pm | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand shares fell for a seventh day as offshore concerns overshadowed the local reporting season. Spark New Zealand, Australia & New Zealand Banking Group and Westpac Banking Corp fell. More >>
NZ dollar heads for 1.3% weekly on yuan gyrations
Friday, 14 August 2015, 5:30 pm | BusinessDesk
NZ dollar heads for 1.3% weekly drop as China's currency tweaks raise local export fears More >>
Smith seeks wider collaboration on biodiversity
Friday, 14 August 2015, 4:57 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Environment Minister Nick Smith is seeking a repeat of the collaborative approach used to agree freshwater management reform as the government prepares to write a new National Policy Statement on bio-diversity. More >>
Smith seeks wider collaboration on biodiversity
Friday, 14 August 2015, 4:57 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Environment Minister Nick Smith is seeking a repeat of the collaborative approach used to agree freshwater management reform as the government prepares to write a new National Policy Statement on bio-diversity. More >>
