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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 777]
NZ farmer confidence slips ahead of new season
Wednesday, 15 July 2015, 2:49 pm | BusinessDesk
July 15 (BusinessDesk) - New Zealand farmer confidence slipped heading into the new season, with economic conditions and profits expected to deteriorate, as farmers plan to spend less and increase debt. More >>
UPDATE: Orion Health performs in line with expectations
Wednesday, 15 July 2015, 12:47 pm | BusinessDesk
July 15 (BusinessDesk) - Orion Health Group says it's performing in line with management’s expectations, and the market for healthcare IT globally is the biggest opportunity any New Zealand technology company has ever had. More >>
Wrightson acquires 50% stake in Uruguayan agri firm
Wednesday, 15 July 2015, 11:05 am | BusinessDesk
July 15 (BusinessDesk) - PGG Wrightson, the rural services firm controlled by China's Agria Corp, will take a 50 percent stake in Agrocentro Uruguay for an undisclosed amount, made up of an upfront payment and capped earn-outs over the next three years. More >>
Orion Health performing in line with management expectations
Wednesday, 15 July 2015, 10:59 am | BusinessDesk
July 15 (BusinessDesk) - Orion Health Group said the listed healthcare software company is performing in line with management’s expectations. More >>
CORRECT: NZ dollar gains as US retail sales decline
Wednesday, 15 July 2015, 9:32 am | BusinessDesk
July 15 (BusinessDesk) - The New Zealand dollar gained as an unexpected decline in US retail sales raised speculation an increase in US interest rates may start later than previously thought, weighing on the greenback. More >>
Goodman's Highbrook Park attracts new $26.8M coolstore
Wednesday, 15 July 2015, 9:25 am | BusinessDesk
July 15 (BusinessDesk) - Goodman Property Trust, the country's second-biggest listed property investor, will build a new $26.8 million coolstore at its Highbrook Business Park site in Auckland. More >>
NZ dollar gains as US retail sales unexpectedly decline
Wednesday, 15 July 2015, 8:44 am | BusinessDesk
July 15 (BusinessDesk) - The New Zealand dollar gained as an unexpected decline in US retail sales raised speculation an increase in US interest rates may start later than previously thought, weighing on the greenback. More >>
NZ banks boost first-quarter profits 8.6%
Wednesday, 15 July 2015, 7:52 am | BusinessDesk
July 15 (BusinessDesk) - New Zealand bank profits rose 8.6 percent in the first three months of the year as lenders honed costs while lending margins fell. More >>
While you were sleeping: US retail sales slide
Wednesday, 15 July 2015, 7:52 am | BusinessDesk
July 15 (BusinessDesk) - Equities and US Treasuries moved higher, while the US dollar fell, after a report showing a surprise drop in US retail sales in June, lowering expectations the Federal Reserve will hike interest rates in September. More >>
Clumsy no excuse for defamation, CPA counsel says
Tuesday, 14 July 2015, 5:56 pm | BusinessDesk
July 14 (BusinessDesk) - The New Zealand Institute for Chartered Accountant's "clumsy" response to the prospect of a new competitor wasn't an excuse for defaming CPA Australia, the industry body's counsel said in closing statements to the High Court in Wellington. More >>
MARKET CLOSE: NZ shares rise on optimism over Greek deal
Tuesday, 14 July 2015, 5:41 pm | BusinessDesk
July 14 (BusinessDesk) - New Zealand shares rose, snapping four declines, as the prospect of a Greek deal calmed global markets and stoked investors' demand for riskier assets such as stocks. Power company Contact Energy led the benchmark index higher. More >>
NZ dollar falls as Greek deal stokes greenback demand
Tuesday, 14 July 2015, 5:09 pm | BusinessDesk
July 14 (BusinessDesk) - The New Zealand dollar fell as the prospect of Greece reaching a deal with its creditors soothed investors' concerns about global markets, stoking demand for the greenback. More >>
Kirks' to make $19.35M initial return to shareholders
Tuesday, 14 July 2015, 4:48 pm | BusinessDesk
July 14 (BusinessDesk) - Kirkcaldie & Stains, the unprofitable Wellington-based department store owner, has said its first distribution to shareholders pending the sale of the business to Australia’s David Jones would be around $19.35 million ... More >>
ECan needs commissioners to finish water reform: officials
Tuesday, 14 July 2015, 2:35 pm | BusinessDesk
July 14 (BusinessDesk) - The government's proposed mixed governance model for Environment Canterbury will ensure the local authority has the expertise to finish most of the work for the region's freshwater strategy that could be derailed by losing the commissioners' ... More >>
Chinese student arrivals expected to hold despite slowdown
Tuesday, 14 July 2015, 2:25 pm | BusinessDesk
July 14 (BusinessDesk) - A slowdown in the Chinese economy and a slump in the country's stock markets which has eroded the savings of many investors isn't expected to crimp demand for education in New Zealand, where they are the largest source of international ... More >>
NZICA response to competition 'clumsy', not defamatory
Tuesday, 14 July 2015, 1:38 pm | BusinessDesk
July 14 (BusinessDesk) - The New Zealand Institute of Chartered Accountants was an incumbent threatened by and unused to competition, and while its response was "clumsy", it didn't defame its new rival, CPA Australia, the Wellington High Court has heard. More >>
Methven's new strategy sets $130M revenue target for 2018
Tuesday, 14 July 2015, 1:03 pm | BusinessDesk
July 14 (BusinessDesk) - Methven, the NZX-listed tap and shower manufacturer, has set a target of raising annual revenue from $96 million to $130 million by 2018 under a three-year strategic plan released at its annual general meeting in Auckland today. More >>
Kea Petroleum exit from NZ a step closer
Tuesday, 14 July 2015, 12:35 pm | BusinessDesk
July 14 (BusinessDesk) - Shareholders in cash-strapped London-listed oil and gas explorer, Kea Petroleum, have voted to approve the disposal of the company's interests in Taranaki exploration and production licences and a recapitalisation plan that ... More >>
BP New Zealand 2014 profit sinks 70%
Tuesday, 14 July 2015, 12:21 pm | BusinessDesk
July 14 (BusinessDesk) - BP New Zealand Holdings, the country's biggest petrol station chain by sales, reported a 70 percent slump in annual profit last year as falling oil prices late in the period eroded the value of its inventory, generating its smallest ... More >>
NZ dollar declines as Greek deal stokes US rate hike outlook
Tuesday, 14 July 2015, 8:49 am | BusinessDesk
July 14 (BusinessDesk) - The New Zealand dollar weakened as an agreement between Greece and its creditors bolstered optimism that the US Federal Reserve remains on track to hike interest rates as early as September, spurring demand for the greenback. More >>
