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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 785]
NZ dollar touches fresh lows as economy weakens
Wednesday, 1 July 2015, 8:51 am | BusinessDesk
July 1 (BusinessDesk) - The New Zealand dollar touched its lowest level in more than five years against the greenback and the pound, and its lowest against the Australian dollar in a year and a half, after signs the economy is slowing stoked expectations ... More >>
While you were sleeping: Last-ditch Greek aid request
Wednesday, 1 July 2015, 8:05 am | BusinessDesk
July 1 (BusinessDesk) - As Greece headed towards missing its June 30 deadline to repay about 1.5 billion euros to the International Monetary Fund, Prime Minister Alexis Tsipras requested a new two-year bailout. More >>
RESEND: MARKET CLOSE: NZ shares rise; Kathmandu soars
Tuesday, 30 June 2015, 6:44 pm | BusinessDesk
June 30 (BusinessDesk) - New Zealand shares rose, led by Kathmandu Holdings after Briscoe Group flagged takeover plans. MightyRiverPower and Contact Energy advanced as investors bought defensive stocks. More >>
MARKET CLOSE: NZ shares rise; Kathmandu up on takeover talk
Tuesday, 30 June 2015, 5:54 pm | BusinessDesk
June 30 (BusinessDesk) - New Zealand shares rose, led by Kathmandu Holdings after Briscoe Group flagged takeover plans. MightyRiverPower and Contact Energy advanced as investors bought defensive stocks. More >>
TeamTalk shares slide 6.3% on profit warning, debt extension
Tuesday, 30 June 2015, 5:21 pm | BusinessDesk
June 30 (BusinessDesk) - TeamTalk shares dropped 6.3 percent after the telecommunications company warned net profit will be hit by a revaluation of interest rate swaps and said it had reduced the size of its debt facility after extending the credit line ... More >>
NZ dollar falls as weak data fuels rate cut expectations
Tuesday, 30 June 2015, 5:13 pm | BusinessDesk
June 30 (BusinessDesk) - The New Zealand dollar fell as downbeat business confidence and soft building intentions stoked expectations for deeper interest rate cuts than previously thought, while the Greek debt impasse continued to sap investors' appetite ... More >>
Technology, more public R&D needed to lift agriculture
Tuesday, 30 June 2015, 3:46 pm | BusinessDesk
June 30 (BusinessDesk) - New Zealand needs to reverse a decline in public research and development spending, foster “enabling” policies and provide access to technology to boost productivity in the food and agribusiness sector, says a new Rabobank report. More >>
Tower extends CEO Hancock's position for 3 more months
Tuesday, 30 June 2015, 1:39 pm | BusinessDesk
June 30 (BusinessDesk) - Tower has extended chief executive David Hancock's contract by three months, keeping him on deck as the general insurer wraps up a number of business initiatives. More >>
NZ business confidence turns negative in June
Tuesday, 30 June 2015, 1:34 pm | BusinessDesk
June 30 (BusinessDesk) - New Zealand business confidence turned negative this month for the first time since the Christchurch earthquake in February 2011, led by a gloomy agriculture sector. More >>
Milford invested funds in beleaguered Australian law firm
Tuesday, 30 June 2015, 12:46 pm | BusinessDesk
June 30 (BusinessDesk) - Several Milford Asset Management funds are invested in beleaguered Australian law firm Slater & Gordon, whose share price dropped 25 percent yesterday after it said errors had been uncovered in the financial reporting ... More >>
NZ building consents static in May
Tuesday, 30 June 2015, 11:55 am | BusinessDesk
June 30 (BusinessDesk) - New Zealand building consents were virtually static in May as dwindling demand in Auckland offset increased construction intentions in other parts of the country. More >>
Kathmandu shares soar on Briscoe takeover prospect
Tuesday, 30 June 2015, 11:48 am | BusinessDesk
June 30 (BusinessDesk) - Kathmandu shares soared to a four-month high after Briscoe Group acquired a 19.9 percent stake and said it plans to make a full takeover, raising the prospect that managing director Rod Duke could use his skills to revive the struggling ... More >>
TPP negotiations set to accelerate, Groser says
Tuesday, 30 June 2015, 10:34 am | BusinessDesk
June 30 (BusinessDesk) - Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More >>
Briscoe builds 19.9% stake in Kathmandu, plans takeover
Tuesday, 30 June 2015, 10:12 am | BusinessDesk
June 30 (BusinessDesk) - Briscoe Group, the retailer controlled by managing director Rod Duke, has acquired 19.9 percent of Kathmandu and said it plans to make a full takeover offer for the outdoor equipment and clothing chain. More >>
Eastern Bay Energy Trust completes Horizon takeover
Tuesday, 30 June 2015, 9:42 am | BusinessDesk
June 30 (BusinessDesk) - Eastern Bay Energy Trust, the Bay of Plenty lines company, has declared its takeover of Horizon Energy unconditional after crossing the 90 percent threshold needed to mop up the remaining shares. More >>
Wellington Airport returns within acceptable range
Tuesday, 30 June 2015, 9:29 am | BusinessDesk
June 30 (BusinessDesk) - Wellington International Airport's revised landing fees mean the gateway's returns fall within an acceptable range, the Commerce Commission has confirmed. More >>
KordaMentha concludes receivership of Somers-Edgar's Orange
Tuesday, 30 June 2015, 9:20 am | BusinessDesk
June 30 (BusinessDesk) - The receivers for Doug Somers-Edgar's Orange Finance have concluded their work with a shortfall of about $10 million in principal and interest owed to debenture holders of the failed company. More >>
Xero appoints new chief financial officer
Tuesday, 30 June 2015, 9:07 am | BusinessDesk
June 30 (BusinessDesk) - Xero, the cloud-based accounting software developer, has appointed Virgin Australia executive Sankar Narayan as its next chief financial officer. More >>
NZ dollar recovers after knee-jerk decline on Greece concern
Tuesday, 30 June 2015, 8:48 am | BusinessDesk
June 30 (BusinessDesk) - The New Zealand dollar advanced overnight following a knee-jerk decline yesterday after no agreement was reached between Greece and its creditors at the weekend. More >>
MARKET CLOSE: NZ shares join global selloff
Monday, 29 June 2015, 5:36 pm | BusinessDesk
June 29 (BusinessDesk) - New Zealand shares fell, pushing the benchmark index to a five-month low, as the local bourse joined a global sell-off as talks to resolve the Greek debt crisis failed over the weekend. Pacific Edge, Xero and Air New Zealand ... More >>
