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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 773]
MARKET CLOSE: NZX50 at record as Meridian, Contact gain
Wednesday, 22 July 2015, 5:45 pm | BusinessDesk
July 22 (BusinessDesk) - New Zealand shares rose to a record as investors bought dividend-paying stocks such as Meridian Energy and Contact Energy on the expectation the Reserve Bank will cut the official cash rate tomorrow. A2 Milk Co extended its ... More >>
Alliance considers special merger meeting request
Wednesday, 22 July 2015, 5:37 pm | BusinessDesk
July 22 (BusinessDesk) - Alliance Group, the world's largest processor and exporter of sheepmeat. said it has written to its 5,000 shareholders to update them on its thinking around industry reform ahead of receiving a request by a group of shareholders ... More >>
Supreme Court turns down Lombard 4's bid to recall judgment
Wednesday, 22 July 2015, 5:36 pm | BusinessDesk
July 22 (BusinessDesk) - The Supreme Court has turned down a bid by the former directors of Lombard Finance & Investments to recall an earlier judgment refusing them leave to appeal their convictions. More >>
NZ dollar pares gains as markets prepare for RBNZ rate cuts
Wednesday, 22 July 2015, 5:06 pm | BusinessDesk
July 22 (BusinessDesk) - The New Zealand dollar pared its gain in local trading as investors prepare for tomorrow's official cash rate review where Reserve Bank governor Graeme Wheeler is expected to lower the benchmark rate. More >>
Maori Fisheries restructure starts with funding queries
Wednesday, 22 July 2015, 4:52 pm | BusinessDesk
July 22 (BusinessDesk) - Plans to restructure Te Ohu Kaimoana, including giving iwi control of Aotearoa Fisheries and its $543 million fishery assets, will be consulted over the next year to find a fair way to evenly distribute power between tribes and ... More >>
Al Monro replaces Sir Peter Maire at Callaghan Innovation
Wednesday, 22 July 2015, 3:55 pm | BusinessDesk
July 22 (BusinessDesk) - Al Monro has been appointed to the board of government-funded business innovation agency Callaghan Innovation, replacing Sir Peter Maire who’s stepping down after two years to focus on his business interests. More >>
Prison 'fight club' furore comes at crucial time for Serco
Wednesday, 22 July 2015, 3:32 pm | BusinessDesk
July 22 (BusinessDesk) - Serco New Zealand, the local unit of the UK’s Serco Group, enters the period where it can renegotiate pricing for the 10-year management contract for Auckland's remand prison, Mt Eden, with a blotted copybook from claims of organised ... More >>
NZ banks in good position to withstand weaker dairy sector
Wednesday, 22 July 2015, 3:14 pm | BusinessDesk
July 22 (BusinessDesk) - New Zealand's banks are in a good position and should be able to withstand pressure on the agricultural sector from weaker dairy prices, according to ratings agency Moody's Investors Service. More >>
AWF Madison approve $150,000 lift to director fees
Wednesday, 22 July 2015, 2:36 pm | BusinessDesk
July 22 (BusinessDesk) - Shareholders of AWF Madison Group, the country’s largest recruiter and labour provider, have voted in favour of a $150,000 increase in the directors’ fee pool at the annual general meeting in Auckland today to cover an ... More >>
Wellington Drive first-half sales beat expectations
Wednesday, 22 July 2015, 12:07 pm | BusinessDesk
July 22 (BusinessDesk) - Wellington Drive Technologies, the unprofitable maker of energy efficient motors, lifted first-half sales 28 percent, beating guidance, as the company benefited from the recent slump in the kiwi dollar against the greenback. More >>
Summerset takes out 127-year lease for Auckland village
Wednesday, 22 July 2015, 9:48 am | BusinessDesk
July 22 (BusinessDesk) - Summerset Group, New Zealand's third-largest retirement village operator, has signed a 127-year lease for an undisclosed sum to build its sixth Auckland village. More >>
NZ dollar above US66 cents again ahead of OCR call
Wednesday, 22 July 2015, 9:04 am | BusinessDesk
July 22 (BusinessDesk) - The New Zealand dollar advanced as traders who had bet on the currency's decline took profits ahead of the Reserve Bank interest rate decision tomorrow. More >>
NZX to launch nine ETFs giving investors global exposure
Wednesday, 22 July 2015, 8:59 am | BusinessDesk
July 22 (BusinessDesk) - NZX, the stock market operator, plans to launch nine new exchange traded funds to offer investors exposure to a raft of international stock markets. More >>
While you were sleeping: United Technologies, IBM drop
Wednesday, 22 July 2015, 7:39 am | BusinessDesk
July 22 (BusinessDesk) - Wall Street fell, retreating from record highs, as disappointing earnings from United Technologies and IBM gave investors a reason to pause. More >>
RBNZ considers easing bank disclosure, loosens finance compa
Tuesday, 21 July 2015, 6:18 pm | BusinessDesk
July 21 (BusinessDesk) - The Reserve Bank is looking at ways to lower regulatory costs for private lenders by scaling back their disclosure obligations and plans to raise the threshold at which finance companies have to get a credit rating, following ... More >>
MARKET CLOSE: NZ shares rise led by A2, Auckland Airport
Tuesday, 21 July 2015, 5:35 pm | BusinessDesk
July 21 (BusinessDesk) - New Zealand shares rose, as A2 Milk Co rebounded from yesterday's selling. Auckland International Airport and Steel & Tube Holdings advanced ahead of earnings season. More >>
NZ dollar gains as RBA meeting notes show easing bias
Tuesday, 21 July 2015, 5:18 pm | BusinessDesk
July 21 (BusinessDesk) - The New Zealand dollar gained as investors weighed up the prospects for rate cuts on both sides of the Tasman ahead of the Reserve Bank of New Zealand's review on Thursday and after minutes to Australia's last review were ... More >>
NZVIF takes ikeGPS stake inhouse asr No 8 Ventures opts out
Tuesday, 21 July 2015, 5:11 pm | BusinessDesk
July 21 (BusinessDesk) - The New Zealand Venture Investment Fund, the Crown-funded start-up investor, has taken its 7.1 percent stake in ikeGPS inhouse, after Number 8 Ventures opted to distribute the shares at the end of the remote measurement tool ... More >>
Loss-making farmers can't afford environmental mitigation
Tuesday, 21 July 2015, 4:56 pm | BusinessDesk
July 21 (BusinessDesk) - Federated Farmers president William Rolleston says progress made in the last few years on farming’s environmental impact can’t be sustained when farmers are making a loss. More >>
UPDATE: Minnow GeoOp eyes NZX main board
Tuesday, 21 July 2015, 4:23 pm | BusinessDesk
July 21 (BusinessDesk) - GeoOp, the workforce management app, is looking to migrate from the New Zealand Alternative Index to the NZX main board. More >>
