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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 767]
NZ Super Fund keeps strong equity weighting following review
Monday, 3 August 2015, 9:13 am | BusinessDesk
July 31 (BusinessDesk) - The New Zealand Superannuation Fund is sticking with a strong weighting to equities following a five-year review of its passive reference portfolio, which forms the basis for most of the fund’s investments. More >>
Tiwai Point smelter safe until 2017; Meridian sole supplier
Monday, 3 August 2015, 9:09 am | BusinessDesk
Aug. 3 (BusinessDesk) - The Tiwai Point aluminium smelter will remain open, with Meridian Energy remaining its sole electricity supplier at an undisclosed but somewhat improved electricity price for about 30 percent of the smelter's total consumption. More >>
NZ dollar jumps higher after weak US employment cost data
Monday, 3 August 2015, 8:50 am | BusinessDesk
Aug. 3 (BusinessDesk) - The New Zealand dollar jumped higher after weak data on US employment costs prompted traders to pull back expectations for US interest rate hikes. More >>
World Week Ahead: Eyes on US jobs reports
Monday, 3 August 2015, 8:02 am | BusinessDesk
Aug. 3 (BusinessDesk) - Aside from the latest corporate earnings including from Walt Disney, a US jobs report and its implication for the timing of the first Federal Reserve interest rate rise in almost a decade will draw the focus in the coming week. More >>
No TPP deal in Maui, but Groser 'extremely confident'
Saturday, 1 August 2015, 2:55 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Intensive negotiations to seal the Trans-Pacific Partnership trade and investment pact in Hawaii this week have failed. More >>
MARKET CLOSE: NZ stocks rise; Meridian, MRP up on Tiwai
Friday, 31 July 2015, 5:38 pm | BusinessDesk
July 31 (BusinessDesk) - New Zealand shares rose. Meridian Energy and MightyRiverPower gained ahead of a decision on the future of the Tiwai Point aluminium smelter and as investors sought companies with relatively strong dividend yields. More >>
Meridian, MightyRiverPower shares gain before Tiwai decision
Friday, 31 July 2015, 5:24 pm | BusinessDesk
July 31 (BusinessDesk) - A decision to keep the Tiwai Point aluminium smelter open appears increasingly likely, with shares of Meridian Energy and MightyRiverPower gaining ahead of Monday's scheduled announcement on the future of the Bluff industrial ... More >>
NZ dollar drops on weaker business sentiment
Friday, 31 July 2015, 5:22 pm | BusinessDesk
July 31 (BusinessDesk) - The New Zealand dollar fell after a survey showed deteriorating business confidence, and may decline further with key event risks next week in the GlobalDairyTrade auction, labour market statistics and a Fonterra Cooperative Group ... More >>
NZ must do more on exploited migrant labour: US State Dept
Friday, 31 July 2015, 5:21 pm | BusinessDesk
July 31 (BusinessDesk) - New Zealand needs to significantly boost its efforts to protect vulnerable migrant workers against exploitative employers, says the US Department of State, in its latest human trafficking report. More >>
13 companies gain up to $24.5M in R&D grants
Friday, 31 July 2015, 4:25 pm | BusinessDesk
July 31 (BusinessDesk) - Thirteen companies were the recipients of the latest batch of government-funded research and development growth grants totalling up to $24.5 million over three years, including the listed Eroad receiving its first ever taxpayer ... More >>
Ngai Tahu Property boss Tony Sewell to retire
Friday, 31 July 2015, 3:32 pm | BusinessDesk
Ngai Tahu Property boss Sewell retiring to pursue private sector opportunities after building $553 million portfolio More >>
T&G Global strengthens position as asparagus marketer
Friday, 31 July 2015, 3:14 pm | BusinessDesk
July 31 (BusinessDesk) - T&G Global, the fruit marketer controlled by Germany's BayWa, has acquired assets from long-term Australian partner M&G Vizzarri, strengthening its position as a major asparagus trader. More >>
Kirk's board brokered its own deal for sale to David Jones
Friday, 31 July 2015, 2:51 pm | BusinessDesk
July 31 (BusinessDesk) - Kirkcaldie & Stains' sought out an offer from Australian department store chain David Jones to buy the ailing 152 year old Wellington department store, after suffering seven consecutive years of unprofitability, chairman Falcon ... More >>
NZ businesses become most pessimistic in 6 years
Friday, 31 July 2015, 1:48 pm | BusinessDesk
July 31 (BusinessDesk) - New Zealand business confidence fell for a second month, to the most pessimistic in six years, led by the agricultural sector and construction companies. More >>
FMA files against Milford's Warminger on market manipulation
Friday, 31 July 2015, 1:18 pm | BusinessDesk
July 31 (BusinessDesk) - The Financial Markets Authority has filed civil proceedings against Milford Asset Management portfolio manager Mark Warminger alleging he manipulated stock prices in breach of the Securities Markets Act. More >>
Kirkcaldie shareholders call time on 152-year-old store
Friday, 31 July 2015, 11:31 am | BusinessDesk
July 31 (BusinessDesk) - Kirkcaldie & Stains' shareholders have voted in favour of Australian department store chain David Jones taking over the upscale Wellington store, ending a run of 152 years, and will receive $19.4 million in a distribution. More >>
Blis Technologies forecasts 75% gain in annual sales
Friday, 31 July 2015, 10:15 am | BusinessDesk
July 31 (BusinessDesk) - Blis Technologies, the NZX-listed biotech company, said sales will rise as much as 75 percent, helped by demand in Europe, North America and in New Zealand. More >>
OceanaGold buys Canada's Romarco, gaining access to US mine
Friday, 31 July 2015, 9:46 am | BusinessDesk
July 31 (BusinessDesk) - OceanaGold Corp, the Australian gold miner, has acquired Canada's Romarco Minerals for a 73 percent premium, in a bid to become the world's cheapest gold miner. More >>
NZ dollar extends slide as easing RBNZ contrasts with more u
Friday, 31 July 2015, 9:00 am | BusinessDesk
July 31 (BusinessDesk) - The New Zealand dollar extended its decline, falling below 66 US cents as the prospect of more easing by the Reserve Bank dented the appeal of the kiwi in an enviroment where the US Federal Reserve prepares to hike interest ... More >>
While you were sleeping: Solid US GDP, jobs
Friday, 31 July 2015, 7:45 am | BusinessDesk
July 31 (BusinessDesk) - Wall Street was mixed as better-than-expected US economic growth and solid jobs data offset disappointing results from Procter & Gamble as well as Whole Foods Market. More >>
