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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 811]
Trustpower annual earnings up 13%
Friday, 15 May 2015, 4:15 pm | BusinessDesk
May 15 (BusinessDesk) - Trustpower, the Tauranga-based energy and telecommunications service provider, posted a 13 percent rise in its underlying full-year earnings, excluding revaluation of a major acquisition, to $122.9 million. More >>
NZ wool auction volumes set to climb 83% next week
Friday, 15 May 2015, 3:22 pm | BusinessDesk
May 15 (BusinessDesk) - New Zealand wool auction volumes are set to increase 83 percent next week as farmers who had been holding out for better prices put their bales on the market. More >>
Mega's legal guns shoot down claims of 'content theft'
Friday, 15 May 2015, 2:57 pm | BusinessDesk
May 15 (BusinessDesk) - Mega, the file storage and encryption firm, has rebutted claims that it operates as a 'cyberlocker' profiting from "content theft" with a legal opinion by Olswang calling the allegations "defamatory". More >>
NZ needs more than 'milk, houses and disaster', Labour says
Friday, 15 May 2015, 1:03 pm | BusinessDesk
May 15 (BusinessDesk) - The New Zealand economy is overly reliant on "milk, houses and disaster" and will see a significant slowdown in economic growth rates in the near future as recent one-off stimulus wear off, said Labour finance ... More >>
NZX halts trading in dairy derivatives on information errors
Friday, 15 May 2015, 11:51 am | BusinessDesk
May 15 (BusinessDesk) - NZX Regulation, the supervisory arm of the stock market operator, has placed a trading halt on dairy futures and options after technical errors led to discrepancies in information detailing how much product Fonterra Cooperative Group ... More >>
CORRECT: MYOB sees online strategy helping fend off rivals
Friday, 15 May 2015, 10:55 am | BusinessDesk
May 14 (BusinessDesk) - MYOB Group, the Australian payment solutions software developer that floated on the ASX this month, says it is confident its move to online products has been nimble enough to protect market share from upstart rivals such as Xero. More >>
IkeGPS's CEO Milnes and CTO Toorenburg move to US
Friday, 15 May 2015, 10:17 am | BusinessDesk
May 15 (BusinessDesk) - IkeGPS, the remote measurement software and hardware developer, is relocating its chief executive Glenn Milnes and chief technology officer Leon Toorenburg to the US, its major market. More >>
NZ dollar weakens following jump higher on retail sales
Friday, 15 May 2015, 8:46 am | BusinessDesk
The kiwi slipped to 75.03 US cents at 8am in Wellington, from 75.28 cents at 5pm yesterday. The trade-weighted index fell to 76.87 from 77.10 yesterday. More >>
While you were sleeping: Jobless claims lift mood
Friday, 15 May 2015, 7:37 am | BusinessDesk
May 15 (BusinessDesk) - Wall Street rose after better-than-expected jobless claims data and an unexpected decline in producer prices suggested the US economy is growing at a pace that is unlikely to warrant an interest rate increase soon. More >>
MYOB sees online strategy helping fend off rivals
Thursday, 14 May 2015, 5:56 pm | BusinessDesk
May 14 (BusinessDesk) - MYOB Group, the Australian payment solutions software developer that floated on the ASX this month, says it is confident its move to online products has been nimble enough to protect market share from upstart rivals such as Xero. More >>
NZ dollar rises to week-high on surge in retail sales
Thursday, 14 May 2015, 5:39 pm | BusinessDesk
May 14 (BusinessDesk) - The New Zealand dollar rose to its highest level in a week after figures showed a record gain in first-quarter retail sales while weaker data in the US overnight drove down the greenback against most major currencies. More >>
MARKET CLOSE: NZ shares fall, F&P Healthcare, Westpac drop
Thursday, 14 May 2015, 5:34 pm | BusinessDesk
May 14 (BusinessDesk) - New Zealand shares fell, paced by Fisher & Paykel Healthcare and Westpac Banking Corp as a drop in Australia's listed healthcare sector weighed on the local bourse. Air New Zealand rose. More >>
Record year in 2014 for mid-cap private equity deals: report
Thursday, 14 May 2015, 3:40 pm | BusinessDesk
May 14 (BusinessDesk) - The NZX listings of Scales Corp, Metroglass and Orion Health by their private equity owners was a major factor in a record year for mid-market PE and venture capital deals, as measured by accounting firm EY for the New Zealand ... More >>
Unlisted asks for support in the face of NZX opposition
Thursday, 14 May 2015, 2:58 pm | BusinessDesk
May 14 (BusinessDesk) - Unlisted, the share trading platform applying for an exemption from the Financial Markets Authority, is looking for support from its participants saying it faces opposition from licensed rival, NZX. More >>
RBNZ's new loan restrictions postive for banks' books: Fitch
Thursday, 14 May 2015, 2:53 pm | BusinessDesk
May 14 (BusinessDesk) - The Reserve Bank's plans to rein in mortgage loans to Auckland property investors should help support lenders' balance sheets and insulate them from a sudden downturn, Fitch Ratings says. More >>
Allied Farmers to dip toe back into finance business
Thursday, 14 May 2015, 1:06 pm | BusinessDesk
May 14 (BusinessDesk) - Allied Farmers, whose former finance arm Allied Nationwide Finance failed in 2010 owing $130 million to debenture holders, has signalled willingness to return to financing, albeit in a small way, by helping fund livestock transactions. More >>
Dorchester Property units halted pending asset sale
Thursday, 14 May 2015, 12:13 pm | BusinessDesk
May 14 (BusinessDesk) - Trading in units of Dorchester Property Trust, the hotel investor spun out of the financier and insurer formerly known as Dorchester Pacific five years ago, has been halted pending an asset sale ahead of a special meeting ... More >>
TPP to live again in US Senate, but Congress a higher hurdle
Thursday, 14 May 2015, 11:58 am | BusinessDesk
May 14 (BusinessDesk) - US president Barack Obama will try again to get US Senate backing for a vote on 'fast-track' authority that he hopes will smooth the way to a deal on the 12-nation Trans-Pacific Partnership free trade and investment pact, ... More >>
McVitty Properties liquidation winds up leaving BNZ short
Thursday, 14 May 2015, 11:32 am | BusinessDesk
May 14 (BusinessDesk) - McVitty Properties, one of two failed farm investment companies owned by Manawatu farmers Robert and Margaret McVitty, has completed its liquidation, leaving creditor Bank of New Zealand with a shortfall of about $2.6 million. More >>
PMI slips in April as Aust weakness weighs on manufacturers
Thursday, 14 May 2015, 11:06 am | BusinessDesk
May 14 (BusinessDesk) - New Zealand manufacturing activity fell for the second consecutive month in April, while still remaining in expansion, as slowing economic growth in Australia weighed on trans-Tasman firms. More >>
