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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 801]
RBA keeps key rate at record low 2% pending data
Tuesday, 2 June 2015, 5:22 pm | BusinessDesk
June 2 (BusinessDesk) - The Reserve Bank of Australia kept the cash rate at a record low 2 percent, saying it was appropriate to leave policy unchanged while it assesses the impact of policy on sustainable economic growth. More >>
Reserve Bank seeks deep-pocketed new owner for NZClear
Tuesday, 2 June 2015, 4:05 pm | BusinessDesk
June 2 (BusinessDesk) - The Reserve Bank has called for expressions of interest to buy its NZClear security settlement and depository business, after a strategic review deemed it was not a core business for the bank and required significant investment. More >>
A-G seeks approval to send Dotcom's computers to US
Tuesday, 2 June 2015, 3:59 pm | BusinessDesk
June 2 (BusinessDesk) - The Attorney-General has launched a Court of Appeal bid to send Kim Dotcom's computers and other devices to the US, following a Supreme Court ruling that found the warrants for their seizure weren't illegal. More >>
Z Energy to run multi-brand strategy after buying Caltex
Tuesday, 2 June 2015, 3:06 pm | BusinessDesk
June 2 (BusinessDesk) - Z Energy says it is committed to running a multi-brand strategy following the acquisition of the Caltex and Challenge! brands from Chevron New Zealand in a $785 million deal announced this morning after details leaked to the Australian ... More >>
NZX dairy derivatives have record month in May
Tuesday, 2 June 2015, 2:00 pm | BusinessDesk
June 2 (BusinessDesk) - NZX had a record trading month for dairy derivatives in May, as increased liquidity and uncertainty around dairy prices stoked demand for options. More >>
NZ terms of trade rise 1.5% in first quarter
Tuesday, 2 June 2015, 11:40 am | BusinessDesk
NZ terms of trade rise 1.5% in first quarter as imported petrol prices slump More >>
Precinct sells Wellington building for $36.1M
Tuesday, 2 June 2015, 11:02 am | BusinessDesk
June 2 (BusinessDesk) - Precinct Properties New Zealand, which raised $174.1 million in March to help fund major developments, sold a Wellington building in the central business district for $36.1 million, just below book value, and has affirmed its ... More >>
Spark plans $100M buyback to address lazy balance sheet
Tuesday, 2 June 2015, 10:15 am | BusinessDesk
June 2 (BusinessDesk) - Spark New Zealand, formerly Telecom Corp, plans to buy back as many as 40 million shares on market for up to $100 million this year after a series of asset sales left its balance sheet under-leveraged. More >>
Craigs censured, fined $30,000 by NZX over record-keeping
Tuesday, 2 June 2015, 9:53 am | BusinessDesk
June 2 (BusinessDesk) - Craigs Investment Partners has been fined $30,000 and censured by NZX's disciplinary tribunal for failing to correctly record retail client orders in the stock market's trading system for almost two years. More >>
Z Energy buys Caltex service station chain for $785 million
Tuesday, 2 June 2015, 9:16 am | BusinessDesk
June 2 (BusinessDesk) - Z Energy, the listed service station chain, has agreed to buy rival Chevron New Zealand's Caltex-branded network for $785 million, and plans to raise $185 million in new capital to help fund the acquisition. More >>
NZ dollar hits lowest in almost 5 years
Tuesday, 2 June 2015, 8:52 am | BusinessDesk
June 2 (BusinessDesk) - The New Zealand dollar hit its lowest level in almost five years over the long weekend as traders favour the greenback amid growing expectations that the Reserve Bank will cut interest rates next week while the US Federal Reserve ... More >>
While you were sleeping: US consumer hits pause button
Tuesday, 2 June 2015, 7:23 am | BusinessDesk
June 2 (BusinessDesk) - Stocks on both sides of the Atlantic moved higher amid fresh reports suggesting the US Federal Reserve won’t be in a rush to raise interest rates soon. More >>
World Week Ahead: Eyes on US jobs, Greece
Monday, 1 June 2015, 11:05 am | BusinessDesk
June 1 (BusinessDesk) - A flurry of US economic data including nonfarm payrolls will be scrutinised for help in trying to assess the timing of a Federal Reserve interest rate hike amid concern about the strength of an economy that contracted in the first ... More >>
New Greens co-leader aims to 'change the party' to win
Sunday, 31 May 2015, 12:08 pm | BusinessDesk
May 31 (BusinessDesk) - Newly elected Green Party male co-leader James Shaw says his job is to "change the party" to prepare it for government rather than an opposition, massively grow party membership to reflect a broader cross-section ... More >>
Greens elect James Shaw as new male co-leader
Saturday, 30 May 2015, 3:59 pm | BusinessDesk
May 30 (BusinessDesk) - First term Member of Parliament James Shaw has snatched the male co-leadership of the Green Party, beating out veteran MP Kevin Hague for the post and saying he believed the Green Party could attract support from people who ... More >>
MARKET CLOSE: NZ shares rise led by F&P Healthcare, Nuplex
Friday, 29 May 2015, 5:44 pm | BusinessDesk
May 29 (BusinessDesk) - New Zealand shares rose, led by Fisher & Paykel Healthcare after its annual results beat forecasts. Nuplex Industries extended recent gains. More >>
NZ dollar heads for 2.4% weekly drop
Friday, 29 May 2015, 5:38 pm | BusinessDesk
NZ dollar heads for 2.4% weekly drop as Fed eyes rate hikes, questions loom over local economy More >>
RBNZ will target property investment lending
Friday, 29 May 2015, 5:21 pm | BusinessDesk
May 29 (BusinessDesk) - The Reserve Bank of New Zealand is pressing ahead with proposals to create a new asset class for lenders, which will let it target Auckland property investors as a means to take the heat out of the market in the country's biggest ... More >>
NZ wool prices hold at elevated levels as volumes decline
Friday, 29 May 2015, 5:17 pm | BusinessDesk
May 29 (BusinessDesk) - New Zealand wool prices remained elevated at auction this week, with lamb wool touching a fresh four-year high, as less wool was offered for sale. More >>
SeaDragon sinks into the red on rising factory cost
Friday, 29 May 2015, 3:37 pm | BusinessDesk
May 29 (BusinessDesk) - SeaDragon, which manufactures fish oil for health supplements, sank into the red in the latest financial year as ballooning costs for its Omega-3 fish oil refinery offset sales that more than doubled. More >>
