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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 759]
Fonterra cuts back GDT whole milk powder by a third
Thursday, 13 August 2015, 5:55 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Fonterra Cooperative Group, the world’s largest dairy exporter, is reducing by a third the amount of whole milk powder, the key commodity export ingredient, it sells on the GlobalDairyTrade platform over the next 12 months ... More >>
MARKET CLOSE: NZ shares fall; Orion, Trade Me drop
Thursday, 13 August 2015, 5:36 pm | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand share fell as concerns about a slowing Chinese economy weighed on local equities. Orion Health Group, Trade Me Group and Metro Performance Glass fell in a broad-based sell off. More >>
NZ dollar holds gains as markets relax on Chinese actions
Thursday, 13 August 2015, 5:07 pm | BusinessDesk
Aug. 13 (BusinessDesk) - The New Zealand dollar held on to gains overnight after the People's Bank of China gave investors more clarity on how much further it's willing to let the yuan depreciate after freeing up restrictions on trading of the currency. More >>
Independent South Island milk firms cross DIRA threshold
Thursday, 13 August 2015, 4:33 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Independent milk processors collected one fifth of all milk solids available in the South Island, triggering the expiry of pro-competition provisions under the legislation which merged New Zealand's largest dairy cooperatives and created ... More >>
Fonterra ratings on review at S&P in face of high debt
Thursday, 13 August 2015, 4:18 pm | BusinessDesk
Fonterra ratings on review at S&P in face of high debt levels, low global prices More >>
UPDATE: Cashed-up Esquires founder eyes new opportunities
Thursday, 13 August 2015, 3:17 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Stuart Deeks, the founder of the Esquires coffee chain in New Zealand, said he sold out of "his baby" in order to take another, as yet unidentified, food and beverage business global. More >>
Instant Finance lifts FY profit by 11%; Sth Akl on the mend
Thursday, 13 August 2015, 2:53 pm | BusinessDesk
Instant Finance lifts full-year profit by 11%, sees signs of jobs growth in South Auckland More >>
Solid Energy woes create out-clause for Genesis contract
Thursday, 13 August 2015, 2:13 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Government-controlled electricity and gas supplier Genesis Energy has revealed an out-clause in its contract with struggling state-owned coal miner Solid Energy and is considering cancelling a standing order for coal that it ... More >>
Mega raises $7.5M as new shareholders take majority control
Thursday, 13 August 2015, 2:09 pm | BusinessDesk
Aug. 12 (BusinessDesk) - Mega, the file storage and encryption firm, has raised $7.5 million, giving two relatively new shareholders majority ownership after recent accusations from its estranged founder Kim Dotcom claiming the company suffered a hostile takeover ... More >>
Report shows growing focus by Kiwi craft brewers on exports
Thursday, 13 August 2015, 2:01 pm | BusinessDesk
New report shows growing focus by Kiwi craft brewers on exports; off premise sales up 42% More >>
Solid Energy placed in administration, orderly break-up
Thursday, 13 August 2015, 12:34 pm | BusinessDesk
Aug. 13 (BusinessDesk) - State-owned coal miner Solid Energy has been placed in voluntary administration by its board of directors, allowing it trade on under a deal with creditor banks that will see its assets sold over the next 2 1/2 years. More >>
FFX Media NZ sales, earnings fall on weaker ad market
Thursday, 13 August 2015, 12:19 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Fairfax Media's New Zealand business reported a decline in sales and earnings in its latest year as the company focused on cost control and building its digital market share in the face of weaker advertising and circulation. More >>
FFX Media NZ sales, earnings fall on weaker ad market
Thursday, 13 August 2015, 12:19 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Fairfax Media's New Zealand business reported a decline in sales and earnings in its latest year as the company focused on cost control and building its digital market share in the face of weaker advertising and circulation. More >>
Cooks Global plans to rejig ownership, raise funds to expand
Thursday, 13 August 2015, 12:16 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Cooks Global Foods, the unprofitable company taking the Esquires Coffee Houses chain beyond Australasia, plans to raise more funds and rejig its shareholding to aid its expansion. More >>
Auckland house prices dip in July, sales volumes jump: REINZ
Thursday, 13 August 2015, 11:54 am | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand house sales stepped up to an unseasonally high volume in July, although there was a pause in the rocketing upward trend for Auckland house prices, where the median house price fell by 2.6 percent to $735,000, compared ... More >>
Auckland house prices dip in July, but sales volumes jump
Thursday, 13 August 2015, 11:50 am | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand house sales stepped up to an unseasonally high volume in July, although there was a pause in the rocketing upward trend for Auckland house prices, where the median house price fell by 2.6 percent to $735,000, compared ... More >>
NZ food prices gain in July
Thursday, 13 August 2015, 11:24 am | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand food prices rose in July, snapping three months of decline, as more expensive fruit, vegetables and meat offset a decline in grocery prices. More >>
NZ manufacturing activity slows in July as dairy woes weigh
Thursday, 13 August 2015, 11:02 am | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand's manufacturing activity expanded at a slower pace in July as a downturn in the dairy sector started to weigh on industrial production, despite the support a weaker kiwi dollar offers exporters. More >>
Scales Corp shares rise to record after FY earnings upgrade
Thursday, 13 August 2015, 10:59 am | BusinessDesk
Aug. 13 (BusinessDesk) - Shares in Scales Corp jumped to a record after New Zealand's biggest apple exporter said it expects to beat its forecast for annual earnings following a strong performance from its horticulture unit. More >>
New deflation scare risk in Chinese devaluation moves
Thursday, 13 August 2015, 10:29 am | BusinessDesk
Aug. 13 (BusinessDesk) - China's move to lower the value of its currency looks likely to further depress weak global prices for a range of commonly traded commodities, says economist Andrew Hunt of Hunt Economics. More >>
