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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 792]
MARKET CLOSE: NZ shares fall; AIA, Spark, Fletcher decline
Wednesday, 17 June 2015, 5:41 pm | BusinessDesk
June 17 (BusinessDesk) - New Zealand shares fell, led by Auckland International Airport, Fletcher Building and Spark New Zealand, amid selling by offshore investors concerned the falling kiwi dollar is eroding the value of their holdings. More >>
Beef + Lamb abandons 2-year push for joint development body
Wednesday, 17 June 2015, 5:34 pm | BusinessDesk
June 17 (BusinessDesk) - Beef + Lamb New Zealand says it won't proceed with a joint market development body because meat companies and exporters baulked at paying half of the $8 million cost. More >>
NZ dollar declines ahead of Fed meeting
Wednesday, 17 June 2015, 5:07 pm | BusinessDesk
June 17 (BusinessDesk) - The New Zealand dollar edged lower ahead of the US Federal Reserve's policy meeting, which investors expect will outline the central bank's plan to start raising interest rates as the US economy gathers momentum. More >>
National environmental standard to untangle forestry rules
Wednesday, 17 June 2015, 4:55 pm | BusinessDesk
June 17 (BusinessDesk) - Detailed rules governing the environmental impact of the plantation forestry industry are being taken out of the hands of local government and replaced by a new National Environmental Standard under the Resource Management ... More >>
Is the $2 million equity crowdfunding limit too low?
Wednesday, 17 June 2015, 2:54 pm | BusinessDesk
June 17 (BusinessDesk) - Josh Daniell, co-founder of Snowball Effect, says the $2 million limit placed on those raising money through equity crowdfunding is a “good place to start” but he would probably be revised up over time. More >>
Dollar deals and drive-thru coffee lift McDonald's NZ sales
Wednesday, 17 June 2015, 2:19 pm | BusinessDesk
June 15 (BusinessDesk) - McDonald's Restaurants (New Zealand), the local unit of the world's biggest fast-food chain, lift 2014 sales by 2 percent as dollar deals, a Monopoly promotion and drive-through coffee attracted customers. Profit was little ... More >>
More interventionist policies needed to fix housing shortage
Wednesday, 17 June 2015, 2:07 pm | BusinessDesk
June 17 (BusinessDesk) - The Productivity Commission strongly recommends "more interventionist approaches that will unlock land for large-scale developments to alleviate housing shortages and housing costs", which it says will not be solved ... More >>
NZ posts bigger-than-expected current account surplus
Wednesday, 17 June 2015, 11:37 am | BusinessDesk
June 17 (BusinessDesk) - New Zealand posted a larger-than-expected current account surplus in the first quarter as spending by tourists widened the services balance and the country benefited from lower oil prices. More >>
Airworks extends contract with Toll Group
Wednesday, 17 June 2015, 9:55 am | BusinessDesk
June 17 (BusinessDesk) - Airwork Holdings, the listed aviation service firm, has extended its contract with Toll Group to service and maintain the logistic company's Australian express air freight business. More >>
New Zealand dollar little changed after limited dip in dairy
Wednesday, 17 June 2015, 8:53 am | BusinessDesk
June 17 (BusinessDesk) - The New Zealand dollar was little changed, holding below 70 US cents, after a relatively small decline in dairy prices on the GlobalDairyTrade platform and little sign of progress in Greece's talks with creditors. More >>
While you were sleeping: US housing shows strength
Wednesday, 17 June 2015, 7:53 am | BusinessDesk
June 17 (BusinessDesk) - Wall Street moved higher as US Federal Reserve policy makers began their two-day meeting amid further evidence of a recovery in the nation’s housing market, while the battle between Greece and its international creditors simmered. More >>
Dairy product prices fall, bleak outlook for milk powder
Wednesday, 17 June 2015, 7:04 am | BusinessDesk
June 17 (BusinessDesk) - Dairy product prices slipped, paced by anhydrous milk fat, in the latest GlobalDairyTrade auction, falling to the weakest level in almost six years. More >>
MARKET CLOSE: NZ shares fall; Steel & Tube, AIA decline
Tuesday, 16 June 2015, 5:54 pm | BusinessDesk
June 16 (BusinessDesk) - New Zealand shares fell in a Asia-Pacific region-wide sell off, as offshore uncertainty spooked investors. Steel & Tube Holdings, Auckland International Airport and Fletcher Building fell. More >>
Fonterra prices $230 mln dim sum bond to fund Beingmate
Tuesday, 16 June 2015, 5:44 pm | BusinessDesk
June 16 (BusinessDesk) - Fonterra Cooperative Group, the world's largest dairy exporter, sold its third dim sum bond, raising 1 billion Chinese yuan, or $230 million, with the proceeds helping fund the stake in Beingmate Baby & Child Food. More >>
NZ dollar little changed below 70 cts before dairy auction
Tuesday, 16 June 2015, 5:30 pm | BusinessDesk
June 16 (BusinessDesk) - The New Zealand dollar was little changed below 70 US cents ahead of the GlobalDairyTrade auction, which will set prices for milk powder and show whether there's any pick up in demand for the nation's biggest export commodity. More >>
$50M upside for Tiwai Pt smelter in grid charge proposals
Tuesday, 16 June 2015, 1:24 pm | BusinessDesk
June 16 (BusinessDesk) - The Electricity Authority's latest attempt to find a more efficient way to charge for the cost of the national grid would benefit South Islanders and many large industrial electricity users, including the Tiwai Point aluminium ... More >>
Buffett's Berkshire Hathaway buys 3.7% of IAG
Tuesday, 16 June 2015, 12:53 pm | BusinessDesk
June 16 (BusinessDesk) - Berkshire Hathaway, Warren Buffett's investment vehicle, has acquired 3.7 percent of Insurance Australia Group in an A$500 million placement as part of an agreement that will see the US firm take 20 percent of IAG's premiums ... More >>
Ron Brierley lifts stake in Kirkcaldie ahead of DJ payday
Tuesday, 16 June 2015, 10:16 am | BusinessDesk
June 16 (BusinessDesk) - Veteran corporate raider Ron Brierley has lifted his stake in Kirkcaldie & Stains ahead of the ailing department store's payday from Australia's David Jones. More >>
Yellow's owners approve plan to replace debt with shares
Tuesday, 16 June 2015, 10:14 am | BusinessDesk
June 16 (BusinessDesk) - Creditors of NZ Directories Holdings, the owner of the Yellow directories service, have voted overwhelmingly in favour of a new capital structure, that will see them holding securities in a new company in return for relinquishing ... More >>
NZ dollar slips vs. euro as breakdown in Greek debt talks
Tuesday, 16 June 2015, 9:03 am | BusinessDesk
June 16 (BusinessDesk) - The New Zealand dollar fell against the euro even as the latest breakdown in negotiations between Greece and its European creditors stoked concerns the Mediterranean nation will end up leaving the shared currency and monetary ... More >>
