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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 82]
NZ dollar becalmed and awaiting offshore impetus
Monday, 8 April 2019, 8:15 pm | BusinessDesk
April 8 (BusinessDesk) - The New Zealand dollar was little changed after adjusting to a raft of positive news last week and with investors now awaiting further impetus from offshore. More >>
Electricity panel warned against politicising pricing
Monday, 8 April 2019, 6:01 pm | BusinessDesk
April 8 (BusinessDesk) - One of the country’s smallest electricity network companies has urged the government’s electricity pricing review panel not to invite politicians into the debate on transmission pricing. More >>
Govt demands higher standard from incubators in new funding
Monday, 8 April 2019, 5:29 pm | BusinessDesk
April 8 (BusinessDesk) - The government wants a see a higher standard from start-up incubator programmes, which have suffered from a lack of expertise in bringing new ideas to market. More >>
RBNZ hasn’t done cost-benefit analysis of capital proposals
Monday, 8 April 2019, 4:47 pm | BusinessDesk
April 8 (BusinessDesk) - The Reserve Bank proposal to almost double the amount of capital the big four banks have to hold was made without undertaking a cost-benefit assessment of the change. More >>
Paymark points to slight rise in spending in March quarter
Monday, 8 April 2019, 2:01 pm | BusinessDesk
April 8 (BusinessDesk) - Retail sales using electronic cards lifted in the March quarter but remain below the average of the past five years, according to data from Paymark, which accounts for more than 75 percent of the country's electronic transactions. More >>
Infratil’s asset values rise, boosting Morrison & Co fees
Monday, 8 April 2019, 1:34 pm | BusinessDesk
April 8 (BusinessDesk) - Infratil says the value of three of its businesses, Canberra Data Centres, Longroad Energy and Tilt Renewables, has roughly tripled compared with their carrying value last September. More >>
Craigs: sell Summerset, buy Gentrack and Scales
Monday, 8 April 2019, 11:58 am | BusinessDesk
April 8 (BusinessDesk) - Craigs Investment Partners is recommending investors sell shares in retirement village operator Summerset Group and to buy shares in utilities software provider Gentrack. More >>
NZ dollar weaker after greenback gains on US jobs data
Monday, 8 April 2019, 11:21 am | BusinessDesk
April 8 (BusinessDesk) - The New Zealand dollar is weaker after US jobs data was better than expected, easing fears about a possible economic slowdown in the US. More >>
Tindall's K1W1 lends $1.5M to Simplicity to repay Stubbs
Monday, 8 April 2019, 10:34 am | BusinessDesk
April 8 (BusinessDesk) - Warehouse founder Steven Tindall's K1W1 investment vehicle is lending $1.5 million to fund manager Simplicity NZ, to repay money owed to founder Sam Stubbs and help cover the firm's expansion. More >>
Founder exits vital to $34 billion value created by unicorns
Monday, 8 April 2019, 10:31 am | BusinessDesk
April 8 (BusinessDesk) - Company founders’ willingness to sell to a new owner or welcome new shareholders has been vital to New Zealand businesses that have created around $34 billion of value in the last 15 years, says a new report from Callaghan ... More >>
MARKET CLOSE: NZ shares fall
Saturday, 6 April 2019, 10:39 am | BusinessDesk
April 5 (BusinessDesk) - New Zealand shares fell, led lower by Summerset Group, after the retirement village operator and developer cited a slowing property market in reporting weak sales. Rivals Ryman Healthcare and Metlifecare suffered accordingly. More >>
NZ dollar falls against Aussie on diverging rate policy
Friday, 5 April 2019, 8:12 pm | BusinessDesk
April 5 (BusinessDesk) - The New Zealand dollar fell against the Australian dollar due to the divergence in monetary policy between the Reserve Bank of New Zealand and the Reserve Bank of Australia. More >>
To Rod Duke: Give us back our beach
Friday, 5 April 2019, 8:11 pm | BusinessDesk
April 4 (BusinessDesk) - Neighbours of Briscoes multi-millionaire Rod Duke say he should be forced to pull down his reconstructed boat shed following a High Court decision quashing all resource consents to turn it into a helicopter pad. More >>
Supreme Court won't hear Talley's bid to challenge charge
Friday, 5 April 2019, 6:16 pm | BusinessDesk
April 5 (BusinessDesk) - The Supreme Court rejected an attempt by local food company Talley's Group to challenge the validity of accusations it didn't do enough to prevent an accident that paralysed one of its workers. More >>
Kaipara settlement trust joins one billion tree scheme
Friday, 5 April 2019, 3:51 pm | BusinessDesk
April 5 (BusinessDesk) - The government has secured its second-largest forestry planting partnership as part of its one billion tree programme. More >>
NZX cut costs nearly 27% since 2016 and plans more this year
Friday, 5 April 2019, 3:48 pm | BusinessDesk
April 5 (BusinessDesk) - Stock exchange operator NZX has cut costs by almost 27 percent since the end of 2016 and estimates expenses will fall a further 5.5-8 percent this calendar year. More >>
Mahuta wants assurances over Westland council procurement
Friday, 5 April 2019, 3:35 pm | BusinessDesk
April 5 (BusinessDesk) - Local Government Minister Nanaia Mahuta wants assurances that Westland District Council's procurement is up to scratch after an Auditor-General found the local authority pushed the boundaries of its powers. More >>
Summerset Groups 1Q sales dip 4.2% on year
Friday, 5 April 2019, 1:03 pm | BusinessDesk
April 5 (BusinessDesk) - Summerset Group's first quarter sales dipped 4.2 percent and the Wellington-based retirement village operator and developer says it is beginning to see some impact from a slowing property market in Auckland and Christchurch. More >>
A tale of missing cows and handshake deals
Friday, 5 April 2019, 11:42 am | BusinessDesk
April 5 (BusinessDesk) - An Otago farmer's misplaced trust in a stock and station agent has ended with a judge saying the days of doing business on a handshake are over. More >>
NZD gains against pound on Brexit jitters, falls against USD
Friday, 5 April 2019, 10:56 am | BusinessDesk
April 5 (BusinessDesk) - The kiwi lifted against the UK pound on concerns that the Brexit situation could drag out even further but fell against the greenback ahead of key US jobs data today. More >>
