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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 800]
NZ dollar drops vs. $A as Aussie growth beats forecasts
Wednesday, 3 June 2015, 5:09 pm | BusinessDesk
June 3 (BusinessDesk) - The New Zealand fell against its Australian counterpart after stronger-than-expected economic growth across the Tasman reinforced speculation the Reserve Bank of Australia won't cut interest rates any further. More >>
Dotcom, co-accused get interim reprieve from asset seizure
Wednesday, 3 June 2015, 4:10 pm | BusinessDesk
June 3 (BusinessDesk) - Internet entrepreneur Kim Dotcom and his fellow Megaupload co-accused Bram van der Kolk have won an interim reprieve from having their assets seized by the Crown and passed on to US authorities. More >>
Rising Auckland house prices put lenders at risk, RBNZ says
Wednesday, 3 June 2015, 3:41 pm | BusinessDesk
June 3 (BusinessDesk) - Surging Auckland house prices would put New Zealand's lenders at risk if there was a significant downturn, according to the Reserve Bank, which was happy with the lenders' ability to stay within regulatory requirements just six ... More >>
Investors await detail of NZ's first social bond
Wednesday, 3 June 2015, 2:41 pm | BusinessDesk
June 3 (BusinessDesk) - Potential investors in the government's first social impact bond say they are open to the concept but are awaiting details, including how returns are structured. More >>
Bennett sees first state house sales in 2016
Wednesday, 3 June 2015, 2:31 pm | BusinessDesk
June 3 (BusinessDesk) - Social Housing Minister Paula Bennett doesn't expect to complete any state house sales to community providers until next year, and says they won't be sold at book value, which she calls an "accountancy fallacy". More >>
ANZ's UDC finance unit increases first-half profit 11%
Wednesday, 3 June 2015, 2:01 pm | BusinessDesk
June 3 (BusinessDesk) - UDC Finance, the finance company owned by ANZ Bank New Zealand, lifted first-half profit 11 percent as it grew lending for road freight and car loans. More >>
NZ commodity prices drop 4.7% in May, as dairy prices sink
Wednesday, 3 June 2015, 1:32 pm | BusinessDesk
June 3 (BusinessDesk) - New Zealand commodity prices fell for a second month in May on continued weakness in dairy products and a decline in prices of meat. More >>
CORRECT: RAM investor fights for name suppression
Wednesday, 3 June 2015, 12:22 pm | BusinessDesk
June 3 (BusinessDesk) - A Ross Asset Management investor, who was able to withdraw $954,000 from RAM's Ponzi-style scheme before it collapsed, is fighting to keep name suppression ahead of a High Court decision on whether liquidators can claw back funds ... More >>
Financial Markets Authority gains new members
Wednesday, 3 June 2015, 12:15 pm | BusinessDesk
June 3 (BusinessDesk) - Three new members have been appointed to the board of the Financial Markets Authority, which regulates capital markets and financial services in New Zealand. More >>
Fonterra offers guaranteed milk price for new season
Wednesday, 3 June 2015, 12:07 pm | BusinessDesk
June 3 (BusinessDesk) - Fonterra Cooperative Group has opened applications for its farmer suppliers to lock in a guaranteed milk price for a portion of their milk in the coming 2015/2016 season in a price range of $4.85 per kilogram of milk solids ... More >>
IRD business transformation "cannot fail", auditor says
Wednesday, 3 June 2015, 11:43 am | BusinessDesk
June 3 (BusinessDesk) - The Inland Revenue Department's $1 billion-plus project to update its ageing information technology system is too important to fail, and while the initial governance structures put in place seem appropriate, it's too early ... More >>
RAM investor continues fight for name supression
Wednesday, 3 June 2015, 11:43 am | BusinessDesk
June 3 (BusinessDesk) - A Ross Asset Management investor, who was able to withdraw $945,000 from RAM's Ponzi-style scheme before it collapsed, is fighting to keep name suppression ahead of a High Court decision on whether liquidators can claw back funds ... More >>
NZ new vehicle sales decline in May, first drop in 41 months
Wednesday, 3 June 2015, 10:44 am | BusinessDesk
June 3 (BusinessDesk) - New Zealand sales of new vehicles declined in May, ending 41 months of increases, as demand for commercial vehicles fell. More >>
Manuka Health mulls capital raising options
Wednesday, 3 June 2015, 10:06 am | BusinessDesk
June 3 (BusinessDesk) - Manuka Health, the functional food and dietary supplement company, is reviewing capital-raising options to help fund a global roll-out of new products said to boost the antibacterial qualities of manuka honey and its pipeline ... More >>
Vector hires Goldman Sachs after approaches on gas lines
Wednesday, 3 June 2015, 9:01 am | BusinessDesk
June 3 (BusinessDesk) - Vector, the Auckland gas and electricity distribution company, has hired Goldman Sachs to review its gas lines business after an unnamed party expressed interest in buying its gas transmission businesses. More >>
NZ dollar gains on concerns over US economy
Wednesday, 3 June 2015, 8:42 am | BusinessDesk
June 3 (BusinessDesk) - The New Zealand dollar rose even after dairy product prices unexpectedly fell in the latest GlobalDairyTrade auction, as the US dollar dropped on concern about weakness in the world's biggest economy. More >>
While you were sleeping: Fed’s Brainard eyes ‘softness’
Wednesday, 3 June 2015, 7:59 am | BusinessDesk
June 3 (BusinessDesk) - Wall Street swung between gains and losses as investors awaited a key US jobs report for clues on a potential interest rate increase, while also monitoring the ongoing negotiations between Greece and its international creditors ... More >>
Dairy product prices slide to lowest in almost six years
Wednesday, 3 June 2015, 6:44 am | BusinessDesk
June 3 (BusinessDesk) - Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in nearly six years, amid concern about the end of European milk quotas, Russia's trading embargo and sluggish Chinese demand. More >>
MARKET CLOSE: NZ shares rise, Z Energy surges 22% to record
Tuesday, 2 June 2015, 5:33 pm | BusinessDesk
June 2 (BusinessDesk) - New Zealand shares rose, led by Z Energy, after the petrol chain announced a deal to buy Chevron New Zealand's stores. Spark New Zealand gained after announcing a share buyback scheme. More >>
NZ dollar drops vs. Australian dollar as RBA stays unchanged
Tuesday, 2 June 2015, 5:25 pm | BusinessDesk
June 2 (BusinessDesk) - The New Zealand dollar dropped half a cent against its Australian counterpart after the Reserve Bank of Australia kept the cash rate at a record low, saying it will await future data will inform the board on whether current policy ... More >>
