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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 758]
Trends claims Callaghan's actions forced creditor compromise
Friday, 14 August 2015, 4:05 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Trends Publishing, the company at the centre of a stoush over Callaghan Innovation's decision to cancel its three-year funding, says the government innovation agency's actions caused "a serious strain on the company's operations ... More >>
NZ wool prices ahead of year earlier levels
Friday, 14 August 2015, 3:52 pm | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand wool prices were little changed at the latest weekly auction, but are ahead of year earlier levels, underpinned by limited supply and strong demand. More >>
Rising Auckland house prices weigh on NZ lenders, S&P says
Friday, 14 August 2015, 3:27 pm | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand's lenders face increased risks from the persistent strength of Auckland's property market, which hasn't slowed down as much as anticipated in spite of the Reserve Bank's efforts, says global credit rating agency Standard ... More >>
NZ export log prices fall in August on weak Chinese demand
Friday, 14 August 2015, 2:14 pm | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand export log prices fell this month as weaker demand from China pushed up inventories in the country's largest market to more than double their normal level. More >>
Update: Nuplex shares gain after 35% profit rise; turnaround
Friday, 14 August 2015, 2:08 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Shares in Nuplex Industries, which makes resins used in industrial coatings and paint, rose 2.2 percent after the company announced a 35 percent increase in annual profit, beating expectations, on earnings growth in Europe ... More >>
Carter Holt pares back IPO plans to dual-listed Carters
Friday, 14 August 2015, 12:35 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Carter Holt Harvey's on-again, off-again listing plans may be on again, although in a downscaled version incorporating only the New Zealand-based Carters building supplies distribution business. More >>
Chris Joblin announced as new Tainui Group Holdings ceo
Friday, 14 August 2015, 12:14 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Chris Joblin, a former executive at meat processor Affco, will take over as head of Tainui Group Holdings after acting as chief executive for the the investment arm of the Waikato iwi for the past four months. More >>
NZ retail sales edge up 0.1% in June quarter
Friday, 14 August 2015, 10:58 am | BusinessDesk
NZ retail sales edge up 0.1% in June quarter as online purchases grow, petrol slides More >>
Auckland Airport expects to record higher asset values
Friday, 14 August 2015, 10:37 am | BusinessDesk
Aug. 14 (BusinessDesk) - Auckland International Airport expects to record a higher value for its assets when it reports annual earnings later this month. More >>
CORRECT: Nuplex lifts annual profit 35%, beating estimates
Friday, 14 August 2015, 10:13 am | BusinessDesk
Aug. 14 (BusinessDesk) - Nuplex Industries, which makes resins used in industrial coatings and paint, increased annual profit 35 percent, beating expectations, on earnings growth in Europe and Asia. More >>
Michael Hill to step down; cuts dividend
Friday, 14 August 2015, 9:52 am | BusinessDesk
Aug. 14 (BusinessDesk) - The founder of the Michael Hill International jewellery business, Sir Michael Hill, is stepping down to make way for his daughter Emma Hill to succeed him as chair, as the company reduces its dividend to fund growth. More >>
Steel & Tube 20% gain in full-year profit
Friday, 14 August 2015, 9:48 am | BusinessDesk
Aug. 14 (BusinessDesk) - Steel & Tube Holdings, New Zealand's biggest steel distribution company, posted a 20 percent gain in full-year profit and said recent acquisitions will be a buffer to slowing economic growth and weakness in global finished steel ... More >>
Wilson Parking seeks clearance to buy Tournament Parking
Friday, 14 August 2015, 9:36 am | BusinessDesk
Aug. 14 (BusinessDesk) - Wilson Parking New Zealand, owned by Hong Kong’s Kwok family, is seeking Commerce Commission clearance to buy 10 sites owned by rival Tournament Parking in Auckland and Wellington. More >>
TradeMe launches insurance offer in partnership with Tower
Friday, 14 August 2015, 9:32 am | BusinessDesk
Aug. 14 (BusinessDesk) - Trade Me Group has launched an insurance scheme, backed by listed insurer Tower, as part of the online auction site's plan to diversify into financial services and boost profit. More >>
Nuplex lifts annual profit 35%, beating estimates
Friday, 14 August 2015, 9:27 am | BusinessDesk
Aug. 14 (BusinessDesk) - Nuplex Industries, which makes resins used in industrial coatings and paint, increased annual profit 35 percent, beating expectations, on earnings growth in Europe and Asia. More >>
NZ Super Fund invests US$75M in glassmaker View
Friday, 14 August 2015, 8:57 am | BusinessDesk
Aug. 14 (BusinessDesk) - The New Zealand Superannuation Fund has invested US$75 million in US-based View, a maker of intelligent glass systems for commercial buildings, taking its total spend up on clean tech to date to $500 million. More >>
NZ responsible investments grew 10% in 2014
Friday, 14 August 2015, 8:48 am | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand responsible investment assets grew 10 percent in 2014 to $63.6 billion, mainly on the back of rising consumer interest in how their retirement savings are invested. More >>
NZ dollar declines as Chinese concerns recede
Friday, 14 August 2015, 8:26 am | BusinessDesk
Aug. 14 (BusinessDesk) - The New Zealand dollar declined as concerns about Chinese policy to weaken the yuan abated, turning attention to the likelihood of an interest rate rise in the US. More >>
While you were sleeping: Strong US retail sales
Friday, 14 August 2015, 7:49 am | BusinessDesk
Aug. 14 (BusinessDesk) - Equities on both sides of the Atlantic advanced after a report showing strong US retail sales bolstered optimism about the outlook for corporate profits and the economy, while concern about China's currency depreciation eased. More >>
Trends Publishing sues Callaghan over cancelled grant
Thursday, 13 August 2015, 6:10 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Trends Publishing, a publishing company that found itself under investigation by the Serious Fraud Office over its use of a government-funded business growth grant, has lodged proceedings in the High Court against the government's ... More >>
