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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 821]
Horticultural production tops $7B, led by wine and apples
Friday, 24 April 2015, 12:31 pm | BusinessDesk
April 24 (BusinessDesk) - Horticultural production has topped $7 billion for the first time, with good growth in nearly all the main industries, including wine, apples, potatoes, and onions. More >>
Pan Pacific independent directors reject Zeta offer
Friday, 24 April 2015, 12:03 pm | BusinessDesk
April 24 (BusinessDesk) - Pan Pacific Petroleum's independent directors have urged shareholders to reject a takeover offer from Zeta Resources, saying the proposal under-values the company and doesn't include a sufficient premium for control. More >>
Lubricant deal slips away as Commission nixes merger
Friday, 24 April 2015, 11:28 am | BusinessDesk
April 24 (BusinessDesk) - The Commerce Commission has ruled against a merger that would have seen New Zealand's most popular brands of adult lubricant products merged under a single owner. More >>
LanzaTech has other commercial plants in the pipeline
Friday, 24 April 2015, 11:16 am | BusinessDesk
April 24 (BusinessDesk) - LanzaTech, the New Zealand-founded carbon recycling company, says it has other full-scale commercial plants in the pipeline following this week’s announcement that China Steel Corp will invest US$46 million in a commercial scale ... More >>
Xero annual loss widens as company ramps up investment
Friday, 24 April 2015, 10:47 am | BusinessDesk
April 24 (BusinessDesk) - Xero, the cloud-based accounting software firm, said its annual loss widened even as sales rose, after it increased investment in product development, sales and marketing for future growth. More >>
Mercer's CEO Shepherd, CFO Blathwayt quit the manufacturer
Friday, 24 April 2015, 10:42 am | BusinessDesk
April 24 (BusinessDesk) - Rodger Shepherd, the chief executive of Mercer Group, and Tobin Blathwayt, its chief financial officer, will both leave the stainless steel fabricator and manufacturer after four years with the company. More >>
Abano forecasts FY loss of $1.3M-$1.9M on Aotea sale
Friday, 24 April 2015, 10:32 am | BusinessDesk
Abano forecasts FY loss of $1.3M-$1.9M on sale of Aotea stake, Orthotics More >>
Xero CFO Jeffries leaves after 2 months in the role
Friday, 24 April 2015, 9:04 am | BusinessDesk
April 24 (BusinessDesk) - Xero, the cloud-based accounting software firm, said its US-based chief financial officer Douglas Jeffries is leaving to pursue other opportunities after only two months in the role. More >>
NZ dollar holds at lower levels after RBNZ rules out hikes
Friday, 24 April 2015, 8:36 am | BusinessDesk
April 24 (BusinessDesk) - The New Zealand dollar held at lower levels after its sudden decline yesterday following Reserve Bank assistant governor John McDermott's comments ruling out interest rate rises. More >>
MARKET CLOSE: NZ shares fall, as Trustpower sale weighs
Thursday, 23 April 2015, 5:43 pm | BusinessDesk
April 23 (BusinessDesk) - New Zealand shares fell, paced by power and broadband company Trustpower as a major shareholder reduced its stake. Spark New Zealand, MightyRiverPower and Contact Energy also declined. More >>
Oracle-owned boatbuilder has had two government grants
Thursday, 23 April 2015, 5:32 pm | BusinessDesk
April 23 (BusinessDesk) - Core Builders Composites, the Warkworth-based company owned by Team New Zealand’s arch-rival Oracle Racing, has had two taxpayer subsidies in the past three years. More >>
NZ dollar drops after RBNZ official says rate hike unlikely
Thursday, 23 April 2015, 5:30 pm | BusinessDesk
April 23 (BusinessDesk) - The New Zealand dollar dropped after Reserve Bank assistant governor John McDermott said the bank isn't considering a rate hike, suggesting next week's official cash rate review may be more dovish than expected. More >>
Unlisted, NZX trade snipes over exemption from market rules
Thursday, 23 April 2015, 4:58 pm | BusinessDesk
April 23 (BusinessDesk) - Unlisted, the share trading platform, is rejecting claims by the stock market operator NZX that its request to be exempted from new rules requiring it become a licensed market could undermine confidence in New Zealand's financial ... More >>
NZ Rugby puts out feelers for Japanese corporate sponsor
Thursday, 23 April 2015, 3:49 pm | BusinessDesk
April 23 (BusinessDesk) - New Zealand Rugby, the national sports administrator, is putting out feelers for a Japanese corporate sponsor, betting that the debut of rugby at the Rio Olympics next year and Japan's hosting of the Rugby World Cup in 2019 ... More >>
China Steel Corp green-lights first LanzaTech scale-up
Thursday, 23 April 2015, 3:49 pm | BusinessDesk
April 23 (BusinessDesk) - China Steel Corporation, Taiwan’s largest integrated steelmaker, has given formal approval for a US$46 million investment in a commercial scale ethanol facility developed by New Zealand-founded LanzaTech. More >>
NZ consumer confidence nudges up in April
Thursday, 23 April 2015, 1:36 pm | BusinessDesk
April 23 (BusinessDesk) - New Zealand consumer confidence nudged up in April, boding well for future economic growth. More >>
NZ Reserve Bank 'not considering' increase in interest rates
Thursday, 23 April 2015, 1:16 pm | BusinessDesk
April 23 (BusinessDesk) - The Reserve Bank of New Zealand isn't considering an increase in interest rates at present and is watching for any signs of weakening demand and domestic inflationary pressures that could warrant a rate cut, says assistant governor ... More >>
Tauranga Consumer Trust sells Trustpower shares for $154.8M
Thursday, 23 April 2015, 12:42 pm | BusinessDesk
April 23 (BusinessDesk) - Trustpower shareholder Tauranga Energy Consumer Trust sold 20 million shares in the power company for $154.8 million as it aims to diversify its investments away from a sole holding in the power company. More >>
Conflict risk remains for financial advisers, says FMA poll
Thursday, 23 April 2015, 12:26 pm | BusinessDesk
April 23 (BusinessDesk) - The Financial Markets Authority's inaugural survey of authorised financial advisers show there's still scope for conflicts of interest, with some advisers aligned to a single product provider or getting paid volume bonuses. More >>
NZ migration hits new annual record in March
Thursday, 23 April 2015, 11:42 am | BusinessDesk
April 23 (BusinessDesk) - New Zealand migration hit a new annual record in March, as more students arrived from India and China and fewer locals left for Australia. More >>
