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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 815]
CORRECT: ANZ Bank was most aggressive in rural rate swaps
Thursday, 7 May 2015, 2:47 pm | BusinessDesk
CORRECT: ANZ Bank was most aggressive in rural rate swaps sales to farmers, ComCom says More >>
Heartland shares rise as Quadrant sells 9% stake
Thursday, 7 May 2015, 1:54 pm | BusinessDesk
May 7 (BusinessDesk) - Shares of Heartland New Zealand rose after coming out of a trading halt as Quadrant Private Equity sells its 9 percent stake in the bank formed from the merger of Marac Finance with Southern Cross and Canterbury building societies. More >>
CORRECT2: Heartland in trading halt as Quadrant sells
Thursday, 7 May 2015, 1:12 pm | BusinessDesk
May 7 (BusinessDesk) - Shares of Heartland New Zealand are in a trading halt as Quadrant Private Equity looks to sell its near 9 percent stake in the bank, formed from the merger of Marac Finance with Southern Cross and Canterbury building societies. More >>
ANZ was most aggressive in rural rate swaps sales: ComCom
Thursday, 7 May 2015, 12:52 pm | BusinessDesk
May 7 (BusinessDesk) - ANZ Bank New Zealand, the country's biggest lender, was the most aggressive in pitching interest rate swaps to farmers, over which it subsequently agreed to pay $19 million in compensation, the Commerce Commission says. More >>
CORRECT: Heartland in trading halt as Quadrant looks to sell
Thursday, 7 May 2015, 12:07 pm | BusinessDesk
May 7 (BusinessDesk) - Shares of Heartland New Zealand are in a trading halt as Quadrant Private Equity looks to sell its near 9 percent stake in the bank formed from the merger of Marac Finance with Southern Cross and Canterbury building societies one ... More >>
Weak dairy prices may force Treasury to reduce forecasts
Thursday, 7 May 2015, 12:05 pm | BusinessDesk
May 7 (BusinessDesk) - Treasury may have to pull back its forecasts for New Zealand's economy as prices for whole milk powder, the nation's key commodity export, lag behind expectations. More >>
BNZ 1H cash earnings rise 4.5%
Thursday, 7 May 2015, 11:54 am | BusinessDesk
Bank of NZ first-half cash earnings rise 4.5% as lending growth drives interest income More >>
Heartland in trading halt as Quadrant doubles stake
Thursday, 7 May 2015, 11:18 am | BusinessDesk
May 7 (BusinessDesk) - Shares of Heatland New Zealand are in a trading halt as Quadrant Private Equity looks to double its stake in the bank formed from the merger of Marac Finance with Southern Cross and Canterbury building societies. More >>
Z Energy operating earnings rise 10% on rebound
Thursday, 7 May 2015, 10:18 am | BusinessDesk
May 7 (BusinessDesk) - Z Energy posted a 10 percent increase in full-year operating earnings, as fuel and refining margins improved and the service station chain sold more fuel. More >>
NZ dollar holds at lower levels as traders bet on rate cut
Thursday, 7 May 2015, 8:41 am | BusinessDesk
May 7 (BusinessDesk) - The New Zealand dollar held at lower levels overnight as traders priced in an increased chance of an interest rate cut after a report yesterday showed wage growth slowed in the March quarter. More >>
While you were sleeping: More clouds on rates
Thursday, 7 May 2015, 7:32 am | BusinessDesk
May 7 (BusinessDesk) - US stocks, bonds, and the dollar slid after Federal Reserve Chair Janet Yellen warned valuations were quite high, while weaker-than-expected private jobs data added to recent data suggesting the central bank might not lift ... More >>
MARKET CLOSE: NZ shares fall; Fletcher drops on project woes
Wednesday, 6 May 2015, 5:32 pm | BusinessDesk
May 6 (BusinessDesk) - New Zealand shares fell, paced by Fletcher Building after a subsidiary used faulty materials in a major construction project. Spark New Zealand, Xero and MightyRiverPower fell in a broad-based sell-off as offshore weakness weighed ... More >>
RetireAustralia's CEO Tim Russell to resign
Wednesday, 6 May 2015, 5:20 pm | BusinessDesk
May 6 (BusinessDesk) - Tim Russell, the chief executive of RetireAustralia, has resigned after the Australian retirement village operator was bought by Infratil and the New Zealand Superannuation Fund last December. More >>
NZ dollar falls vs. greenback, AU$ as wage inflation slows
Wednesday, 6 May 2015, 5:10 pm | BusinessDesk
May 6 (BusinessDesk) - The New Zealand dollar fell to a three-week low against the greenback and a three-month low versus its Australian counterpart after local wage growth slowed in the March quarter, raising the prospect of a rate cut by the Reserve ... More >>
Restructure of Te Ohu Kaimoana throws up management worries
Wednesday, 6 May 2015, 1:36 pm | BusinessDesk
May 6 (BusinessDesk) - Recommendations to restructure Te Ohu Kaimoana, giving iwi full control of Aotearoa Fisheries, may be rejected by Maori interests over concerns about vigilance and managing diverse interests in the sector, the Maori Affairs select ... More >>
Weak dairy prices prompt pull back in Fonterra forecasts
Wednesday, 6 May 2015, 1:25 pm | BusinessDesk
May 6 (BusinessDesk) - Weak global dairy prices have prompted analysts to pull back their expectations for Fonterra Cooperative Group's payout to farmers for next season. More >>
Countdown lifts 3Q sales 5% on increased volumes
Wednesday, 6 May 2015, 12:44 pm | BusinessDesk
May 6 (BusinessDesk) - Countdown, the New Zealand supermarket chain owned by Australian retailer Woolworths, lifted third-quarter sales by 5 percent as it eked out bigger volumes in a low-inflation environment. More >>
Briscoe increases first-quarter sales by 4.3%
Wednesday, 6 May 2015, 11:23 am | BusinessDesk
May 6 (BusinessDesk) - Briscoe Group increased first-quarter sales and margins across its homeware and sporting goods retail chains and said profit is tracking ahead of the same period last year in a "highly competitive" market with "relentless ... More >>
NZ wage inflation slows, adding to case for rate cut
Wednesday, 6 May 2015, 10:59 am | BusinessDesk
May 6 (BusinessDesk) - New Zealand’s wage inflation slowed in the first three months of the year as an expanding labour market soaked up growing capacity, helping lift participation to a new record. More >>
Delegat agrees to buy 838ha farm for $29.3M, extending footp
Wednesday, 6 May 2015, 10:49 am | BusinessDesk
May 6 (BusinessDesk) - Delegat Group, New Zealand's largest listed wine company, has agreed to buy an 838-hectare farm in the Hawkes Bay for $29.3 million, extending its footprint in the region and lifting production from 2020. More >>
