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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 820]
Tower shares halted ahead of possible capital return
Wednesday, 29 April 2015, 10:12 am | BusinessDesk
April 29 (BusinessDesk) - Shares of Tower were halted on the New Zealand stock exchange, after the general insurer flagged an on-market buyback of shares earlier this month. More >>
Genesis Energy cuts FY guidance after losing customers
Wednesday, 29 April 2015, 10:07 am | BusinessDesk
April 29 (BusinessDesk) - Genesis Energy, New Zealand's largest energy retailer, cut its forecast for annual earnings after losing electricity and gas customers amid increased competition and as wholesale electricity prices declined. The shares dropped ... More >>
NZ dollar rises as greenback falls to 8-week low
Wednesday, 29 April 2015, 8:53 am | BusinessDesk
April 29 (BusinessDesk) - The New Zealand dollar rose as investors pushed the greenback to an eight-week low ahead of a Federal Reserve statement on expectations that US interest rates won't rise until later in the year. More >>
Kirkcaldie turns to first-half loss on tax writeoff
Tuesday, 28 April 2015, 6:08 pm | BusinessDesk
April 28 (BusinessDesk) - Kirkcaldie & Stains turned to a first-half loss as sales fell and the Wellington department store operator wrote down a deferred tax asset. More >>
NZ dollar extends slide vs. Aussie as iron ore rebound
Tuesday, 28 April 2015, 5:39 pm | BusinessDesk
April 28 (BusinessDesk) - The New Zealand dollar extended its slide against the Australian dollar, which has been helped by a recovery in the price of iron ore, Australia's biggest export commodity, to almost US$60 a tonne. More >>
MARKET CLOSE: NZ shares rise, paced by DNZ on yield demand
Tuesday, 28 April 2015, 5:37 pm | BusinessDesk
April 28 (BusinessDesk) - New Zealand shares rose, paced by DNZ Property Fund and MightyRiverPower, as investors sought income paying equities. Xero extended its decline. More >>
Allied Farmers to raise up to $1.2M
Tuesday, 28 April 2015, 4:40 pm | BusinessDesk
April 28 (BusinessDesk) - Allied Farmers, which owns a livestock business and has a holding company that is selling down loans and property assets acquired from Hanover and United Finance, plans to raise as much as $1.2 million to repay debt and provide ... More >>
Xero shares decline, as investors digest FY, US CFO loss
Tuesday, 28 April 2015, 3:37 pm | BusinessDesk
April 28 (BusinessDesk) - Shares of Xero have dropped to the lowest level since the cloud-based accounting software firm announced its $147.2 million capital raising in February, as investors digest its full year result and the sudden departure of ... More >>
Just Water shareholders approve A$11M sale of Australia unit
Tuesday, 28 April 2015, 12:51 pm | BusinessDesk
April 28 (BusinessDesk) - Just Water International, the water cooler and supplies business 79 percent owned by founder Tony Falkenstein, got the greenlight for the sale of its Australian business for A$11 million, a transaction that will leave it ... More >>
Giving welfare recipients choice increases costs
Tuesday, 28 April 2015, 12:11 pm | BusinessDesk
April 28 (BusinessDesk) - Letting people choose how their government funds for social service are spent is likely to be more costly than traditional delivery through government agencies because people making choices tend to use their full entitlements, according ... More >>
Orion Health posts 7% increase in annual operating revenue
Tuesday, 28 April 2015, 10:22 am | BusinessDesk
April 28 (BusinessDesk) - Orion Health Group, the healthcare management software developer, posted a 7 percent increase in annual operating revenue as growth in the Asia Pacific, Europe and Middle East regions made up for a slowdown in North America. More >>
NZF's second reverse listing plan fails
Tuesday, 28 April 2015, 9:50 am | BusinessDesk
April 28 (BusinessDesk) - NZF Group, the listed financial services company blocked from liquidating earlier this year by its major noteholder, is mulling liquidation again, after plans to sell its listed shell for a reverse listing failed a second ... More >>
SLI Systems says second-half revenue will miss guidance
Tuesday, 28 April 2015, 9:31 am | BusinessDesk
April 28 (BusinessDesk) - SLI Systems, the online retail search engine developer, said revenue in the second half of its financial year will be less than expected because of a shortfall in American sales after it reorganised its sales team, and ... More >>
NZ dollar advances against weak US dollar ahead of Fed, RBNZ
Tuesday, 28 April 2015, 8:37 am | BusinessDesk
April 28 (BusinessDesk) - The New Zealand dollar advanced against a weaker US dollar as traders push out expectations for a US interest rate hike, with both the US Federal Reserve and New Zealand's Reserve Bank scheduled to decide on interest rates on Thursday. More >>
Reserve Bank likely to confirm no rate hike this Thursday
Tuesday, 28 April 2015, 7:42 am | BusinessDesk
April 28 (BusinessDesk) - The Reserve Bank will likely change its language in this week’s review of the official cash rate after a senior bank official last week said a hike in interest rates isn’t being considered at present. More >>
MARKET CLOSE: NZ shares rise; Spark, Meridian gain
Friday, 24 April 2015, 5:38 pm | BusinessDesk
April 24 (BusinessDesk) - New Zealand shares rose, paced by Spark New Zealand and Meridian Energy, as investors sought dividend paying stocks. Xero dropped after it reported its full year loss nearly doubled. More >>
Kiwi heads for 1.7% weekly fall as RBNZ rules out rate hike
Friday, 24 April 2015, 5:29 pm | BusinessDesk
April 24 (BusinessDesk) - The New Zealand dollar is heading for a 1.7 percent decline this week after Reserve Bank assistant governor John McDermott ruled out interest rate hikes ahead of the central bank's official cash rate review next week. More >>
Chinese demand drives lamb wool price rises to 6-week high
Friday, 24 April 2015, 3:33 pm | BusinessDesk
April 24 (BusinessDesk) - New Zealand lamb wool prices rose to a six-week high at auction yesterday on increased demand from China for the apparel fibre. More >>
Spark's market cap slips, as investors weigh competition
Friday, 24 April 2015, 2:33 pm | BusinessDesk
April 24 (BusinessDesk) - Spark New Zealand, formerly Telecom Corp, has slipped from being the country’s largest listed company, as investors mull its transformation away from telecommunications and the risk of increased competition. More >>
Fonterra reshuffles management team
Friday, 24 April 2015, 2:20 pm | BusinessDesk
April 24 (BusinessDesk) - Fonterra Cooperative Group, the world’s largest dairy exporter, has changed two senior management roles in a bid to push its value-add strategy harder in the wake of shareholder criticism over its weak half-year financial ... More >>
