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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 766]
Origin exits Contact for $1.8B, ending foreign control era
Tuesday, 4 August 2015, 9:49 am | BusinessDesk
Aug. 4 (BusinessDesk) - Contact Energy will become an independently governed company for the first time since privatisation in 1999 after cornerstone shareholder Origin Energy agreed to sell its 53.1 percent stake to "a broad range of Australian, ... More >>
Coats sinks into the red in first half on craft writedown
Tuesday, 4 August 2015, 9:29 am | BusinessDesk
Coats sinks into the red in first half on writedown on sale of EMEA crafts business More >>
Contact Energy in trading halt; Origin exit plan imminent
Tuesday, 4 August 2015, 9:02 am | BusinessDesk
Aug. 4 (BusinessDesk) - Contact Energy shares have been placed in a trading halt on the NZX, pending an announcement about its majority shareholder Origin Energy's exit from the company. More >>
NZ dollar declines vs. Aussie ahead of RBA decision
Tuesday, 4 August 2015, 8:45 am | BusinessDesk
Aug. 4 (BusinessDesk) - The New Zealand dollar declined against the Australian dollar ahead of the Reserve Bank of Australia's decision on interest rates today. More >>
While you were sleeping: Oil slump hits shares
Tuesday, 4 August 2015, 7:50 am | BusinessDesk
Aug. 4 (BusinessDesk) - Wall Street fell as a slide in oil prices and weak manufacturing data curbed optimism about the outlook for corporate profits. More >>
'Precarious' Solid Energy in banks' hands; govt eyes options
Monday, 3 August 2015, 5:54 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Liquidation of state-owned coal company Solid Energy "cannot be ruled out" but is "not the number one preferred option of the government," says Prime Minister John Key, who confirmed the beleaguered company was discussed ... More >>
MARKET CLOSE: NZX 50 Index rises to record; MRP, Meridian up
Monday, 3 August 2015, 5:44 pm | BusinessDesk
MARKET CLOSE: NZX 50 Index rises to record; MRP, Meridian gain on Tiwai, Trilogy soars More >>
TPP can't wait for Canada's October election, says Key
Monday, 3 August 2015, 5:32 pm | BusinessDesk
Aug. 3 (BusinessDesk) - The conclusion of the Trans-Pacific Partnership negotiations needs to occur before the Oct. 19 Canadian federal elections, says Prime Minister John Key, who is tipping the likelihood a further negotiating round "in the ... More >>
Blis Tech boss Richardson resigns after nine years in charge
Monday, 3 August 2015, 5:22 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Blis Technologies chief executive Barry Richardson will leave the probiotic manufacturer at the end of the current financial year after nine years in charge of the company. More >>
NZ dollar little changed as Chinese industrial output slows
Monday, 3 August 2015, 5:14 pm | BusinessDesk
Aug. 3 (BusinessDesk) - The New Zealand dollar was little changed as Chinese data showed industrial production slowed more than expected last month, raising fears about the strength of the world's most-populous nation, and as traders await US manufacturing ... More >>
Trilogy says first-half sales may rise 50%; shares soar
Monday, 3 August 2015, 4:46 pm | BusinessDesk
Trilogy forecasts first-half revenue will rise more than 50% to $23 mln; shares soar More >>
FMA head of enforcement Belinda Moffat to leave in September
Monday, 3 August 2015, 2:31 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Financial Markets Authority head of enforcement Belinda Moffat will leave next month, having wrapped up the market watchdog's investigations into the collapse of the finance company sector through the latter half of last decade. More >>
Tainui to sell up to 50% of its Hamilton shopping centre
Monday, 3 August 2015, 1:28 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Tainui Group Holdings (TGH), the investment arm of the Waikato tribe, plans to sell as much as 50 percent of its The Base shopping centre in Te Rapa, northwest Hamilton, using the funds to repay debt and for other investments. More >>
NZ Dollar Outlook: Falling kiwi likely on dairy weakness
Monday, 3 August 2015, 1:14 pm | BusinessDesk
Aug. 3 (BusinessDesk) - The New Zealand dollar is expected to decline this week, weighed down by further weakness in the country's key dairy industry and by a strengthening US dollar. More >>
Fletcher dumps Aussie distribution chief in ANZ merger
Monday, 3 August 2015, 12:48 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Fletcher Building has dumped its Australian head of distribution and will merge the business with its New Zealand counterpart, while separately announcing the departure of chief information officer Carl Powell. More >>
UPDATE: Meridian, power company stocks rise on smelter deal
Monday, 3 August 2015, 10:55 am | BusinessDesk
Aug. 3 (BusinessDesk) - Electricity company shares rose on news that the Tiwai Point aluminium smelter will remain open and run at full capacity at least until the end of 2017, even though Meridian Energy remains the sole supplier after other power ... More >>
Cooks given until close of trade Monday to file accounts
Monday, 3 August 2015, 10:42 am | BusinessDesk
Aug. 3 (BusinessDesk) - Cooks Global Foods, which is rolling out its Esquires coffee chain beyond New Zealand and Australia, has been given until the market close on Monday to file its overdue annual report, NZX Regulation says. More >>
Cavalier plans to sell assets,cut jobs, outsource operations
Monday, 3 August 2015, 10:41 am | BusinessDesk
Cavalier plans to sell assets,cut jobs,outsource operations By Tina Morrison Aug. 3 (BusinessDesk) - Cavalier Corp is selling assets, outsourcing operations, reducing staff and paying down debt as the carpet maker tries to improve profits after restructuring ... More >>
Xero 1Q cash burn accelerates
Monday, 3 August 2015, 10:35 am | BusinessDesk
Aug. 3 (BusinessDesk) - Xero, the cloud-based accounting software developer, burned through cash at a faster pace in the June quarter as it ramped up spending on an expanding workforce and more than doubled expenditure on marketing and advertising. More >>
ComCom follows through with NAIT price-fixing suit
Monday, 3 August 2015, 9:30 am | BusinessDesk
Aug. 3 (BusinessDesk) - The Commerce Commission has filed court proceedings against PGG Wrightson, Elders New Zealand and five individuals it claims fixed fees charged during the introduction of a national livestock tagging scheme. The regulator is ... More >>
