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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 772]
Labour gives conditional support for TPP
Thursday, 23 July 2015, 6:54 pm | BusinessDesk
July 23 (BusinessDesk) - The Labour Party is giving conditional support for the controversial Trans-Pacific Partnership, with party leader Andrew Little saying Labour is "pro-free trade" but will only support TPP if it contains "key protections" ... More >>
Carter Holt loses on most counts in 'leaky schools' appeal
Thursday, 23 July 2015, 6:15 pm | BusinessDesk
July 23 (BusinessDesk) - Building materials manufacturer and supplier Carter Holt Harvey has failed on four out of five counts to have court action taken against it over leaky school buildings thrown out. More >>
CORRECT: Film NZ scrapped after production grant review
Thursday, 23 July 2015, 6:07 pm | BusinessDesk
July 23 (BusinessDesk) - The role of the country's national film office and international screen business marketing agency, Film New Zealand, will be taken over by the New Zealand Film Commission, Economic Development Minister Steven Joyce and Arts, Culture ... More >>
MARKET CLOSE: NZ shares fall on smaller RBNZ rate cut
Thursday, 23 July 2015, 5:38 pm | BusinessDesk
July 23 (BusinessDesk) - New Zealand shares fell from a record as investors looked to pocket recent gains after some were disappointed by a smaller interest rate cut than expected. Contact Energy and Meridian Energy fell. More >>
Air NZ and unions collaborate on high performance engagement
Thursday, 23 July 2015, 5:30 pm | BusinessDesk
July 23 (BusinessDesk) - Air New Zealand has spent the past 18 months working with its staff and unions on high performance engagement designed to lift productivity by allowing worker participation in decision-making. More >>
NZ dollar gains after RBNZ trims OCR by a quarter-point
Thursday, 23 July 2015, 5:15 pm | BusinessDesk
July 23 (BusinessDesk) - The New Zealand dollar gained after the Reserve Bank cut the official cash rate by a quarter-point and called for a weaker currency, while dropping a reference to criteria justifying intervention. More >>
Comvita forecasts 35% boost to annual earnings
Thursday, 23 July 2015, 2:55 pm | BusinessDesk
July 23 (BusinessDesk) - Comvita, the maker of health products based on manuka honey, has forecast a 35 percent gain in annual earnings and has signalled the exit of its chief executive Brett Hewlett at its annual shareholders meeting. More >>
No guarantee Serco's Mt Eden contract will be renewed
Thursday, 23 July 2015, 2:51 pm | BusinessDesk
July 23 (BusinessDesk) - Corrections Minister Sam Lotu-Iiga says there's no guarantee Serco New Zealand will have the second half of its contract renewed to manage Auckland’s remand prison, Mt Eden, after putting the company on notice in a meeting with senior ... More >>
SFO charges Mark Ivil for deception and false pretence
Thursday, 23 July 2015, 2:36 pm | BusinessDesk
July 23 (BusinessDesk) - The Serious Fraud Office has laid 39 Crimes Act and Serious Fraud Office Act charges against Mark Lawrence Ivil in the Tauranga District Court relating to $4.28 million he obtained in a period spanning 1990 to 2014. More >>
Govt wants to limit UFB involvement, English says
Thursday, 23 July 2015, 2:21 pm | BusinessDesk
July 23 (BusinessDesk) - The government doesn't want to spend any more money or stay any longer in the build of New Zealand's ultra-fast broadband network for fear it might "stuff it", says Finance Minister Bill English. More >>
Community-owned electricity networks face technology risk
Thursday, 23 July 2015, 12:57 pm | BusinessDesk
July 23 (BusinessDesk) - Communities that believe their locally owned electricity networks will remain as valuable as they are today risk discovering they are not worth nearly as much when new electricity technologies start replacing traditional ... More >>
Livestock Improvement posts drop in annual profit
Thursday, 23 July 2015, 12:57 pm | BusinessDesk
July 23 (BusinessDesk) - Livestock Improvement Corp, a farmer cooperative that sells bull semen and manages a dairy genetics database, posted its third straight drop in annual profit as lower milk prices weighed on demand for its services and it spent ... More >>
Dair deregulation has insulated the economy, says English
Thursday, 23 July 2015, 11:09 am | BusinessDesk
July 23 (BusinessDesk) - Light regulation in the New Zealand dairy industry has insulated the wider economy from the sharp decline in prices for the country's largest export commodity, according to minister of finance Bill English. More >>
PGG Wrightson buys Australian seeds business Grainland Moree
Thursday, 23 July 2015, 10:44 am | BusinessDesk
July 23 (BusinessDesk) - PGG Wrightson, the rural services firm controlled by China's Agria Corp, has agreed to buy the assets of Australian seed business Grainland Moree for an undisclosed amount. More >>
Intueri to buy NZ Institute of Sport for $19.3M
Thursday, 23 July 2015, 9:52 am | BusinessDesk
July 23 (BusinessDesk) - Intueri Education Group, New Zealand's largest private training college, has agreed to buy the New Zealand Institute of Sport for $19.3 million to give it significant scale in the sports and complementary health sectors. More >>
NZ dollar jumps after RBNZ trims OCR
Thursday, 23 July 2015, 9:50 am | BusinessDesk
July 23 (BusinessDesk) - The New Zealand dollar jumped more than half a US cent after Reserve Bank governor Graeme Wheeler cut the official cash rate by a quarter-point and said the currency needs to be lower, while dropping a reference to criteria that ... More >>
RBNZ’s Wheeler cuts OCR to 3% and flags more to come
Thursday, 23 July 2015, 9:09 am | BusinessDesk
RBNZ’s Wheeler cuts OCR to 3% and flags more to come, says kiwi needs to keep falling More >>
NZ dollar falls on commodity weakness ahead of RBNZ
Thursday, 23 July 2015, 8:37 am | BusinessDesk
July 23 (BusinessDesk) - The New Zealand dollar fell along with other commodity currencies ahead of an expected Reserve Bank interest rate cut this morning. More >>
While you were sleeping: Apple, Microsoft falter
Thursday, 23 July 2015, 7:45 am | BusinessDesk
July 23 (BusinessDesk) - Wall Street moved lower after Apple and Microsoft posted earnings that fell short of expectations, leaving investors wondering about the recent tech rally that had pushed the Nasdaq to fresh records. More >>
Xero to double turnover to $200M this year, says CEO Drury
Wednesday, 22 July 2015, 6:26 pm | BusinessDesk
July 22 (BusinessDesk) - New Zealand accounting software pioneer Xero expects to double global revenue to more than $200 million in the year to March 2016, based on current exchange rates, having taken eight years since listing on the NZX in June ... More >>
