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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 841]
MARKET CLOSE: NZ shares fall, led by MetroGlass, A2, NZOG
Wednesday, 11 March 2015, 5:42 pm | BusinessDesk
March 11 (BusinessDesk) - New Zealand shares fell, led by Metro Performance Glass and paced by New Zealand Oil and Gas as investors digested earnings season. A2 Milk Co and Fonterra Shareholders' Fund declined after threats to contaminate infant formula ... More >>
NZ dollar falls as RBNZ looms; dairy fall-out continues
Wednesday, 11 March 2015, 5:09 pm | BusinessDesk
March 11 (BusinessDesk) - The New Zealand dollar fell on speculation Reserve Bank governor Graeme Wheeler may signal further delays to interest rate hikes tomorrow and amid concern a threat to contaminate infant formula may hurt orders for the nation's ... More >>
Market regulators defend disclosure by dairy companies
Wednesday, 11 March 2015, 5:09 pm | BusinessDesk
March 11 (BusinessDesk) - Market regulators, the NZX and the Financial Markets Authority, say they’re confident the approach they took to disclosure of the 1080 contamination threat by listed companies involved was appropriate in the "unusual circumstances", ... More >>
Foley Family Wines turns first half profit as sales grow
Wednesday, 11 March 2015, 3:59 pm | BusinessDesk
March 11 (BusinessDesk) - Foley Family Wines, majority owned by American businessman and vineyard owner Bill Foley, posted a first-half operating profit as sales increased 14 percent. More >>
Taiwanese media criticise delay in revealing 1080 threat
Wednesday, 11 March 2015, 3:18 pm | BusinessDesk
March 11 (BusinessDesk) - Chinese consumer reaction to the threat to contaminate New Zealand infant formula with 1080 poison has been muted so far, but the Taiwanese have been more strident, said Massey University marketing specialist Associate Professor ... More >>
SBS agrees to buy 50% of Staples Rodway Asset Management
Wednesday, 11 March 2015, 2:54 pm | BusinessDesk
March 11 (BusinessDesk) - SBS Bank, New Zealand's largest building society, has agreed to buy 50 percent of Staples Rodway Asset Management (SRAM) as part of a strategy to build scale in wealth management and lift its presence in the North Island. More >>
Solid Energy prepares for more job cuts at Stockton
Wednesday, 11 March 2015, 2:14 pm | BusinessDesk
March 11 (BusinessDesk) - State-owned coal miner Solid Energy is preparing for more redundancies at its Stockton mine, near Westport, as slumping global prices for coking coal threaten its long term viability and force it anew into talks with its banks ... More >>
IRD happy with business transformation-lead Accenture
Wednesday, 11 March 2015, 2:00 pm | BusinessDesk
March 11 (BusinessDesk) - The Inland Revenue Department is happy with lead provider Accenture to overhaul its 30-year-old information technology system in a major transformation of its business which so far is running under budget and on time. More >>
Woosh narrows annual loss as accounts tagged by auditor
Wednesday, 11 March 2015, 1:44 pm | BusinessDesk
March 11 (BusinessDesk) - Woosh Wireless's financial statements have been tagged by its auditor as the internet service provider narrowed its annual loss by clamping down on costs to offset falling sales. More >>
CERA bullish on Chch CBD anchor projects
Wednesday, 11 March 2015, 11:57 am | BusinessDesk
March 11 (BusinessDesk) - The Canterbury Earthquake Recovery Authority, which was tasked with overseeing the rebuild of the country's second-biggest city, is upbeat about the prospects for anchor projects in Christchurch's central business district, ... More >>
Restaurant Brands says fourth-quarter sales rise 19%
Wednesday, 11 March 2015, 10:41 am | BusinessDesk
March 11 (BusinessDesk) - Restaurant Brands, New Zealand's largest fast-food store operator, increased fourth-quarter sales by 19 percent as it benefited from an extra week's trading, a better performance from its KFC fried chicken unit and the addition ... More >>
NZ govt posts small surplus in 7 mths to January
Wednesday, 11 March 2015, 10:01 am | BusinessDesk
March 11 (BusinessDesk) - The New Zealand government posted a small operating surplus in the seven months through January as tax revenue beat expectations, while costs were smaller than anticipated. More >>
Trilogy sees FY profit more than trebling
Wednesday, 11 March 2015, 9:03 am | BusinessDesk
March 11 (BusinessDesk) - Trilogy International, the skincare products and scented candle maker, says annual profit will more than treble with improved earnings at its Australian unit and as its Ecoya candle division makes money for the first time. More >>
NZ dollar drops to month low on dairy concern, strong USD
Wednesday, 11 March 2015, 8:49 am | BusinessDesk
March 11 (BusinessDesk) - The New Zealand dollar dropped to a month low after the government yesterday revealed threats to contaminate infant formula with poison, raising concern the action may hurt sales of dairy products, the nation's largest ... More >>
While you were sleeping: Dollar strength hits stocks, oil
Wednesday, 11 March 2015, 7:19 am | BusinessDesk
March 11 (BusinessDesk) - Wall Street dropped as the US dollar continued to strengthen amid bets the US Federal Reserve will raise interest rates soon. More >>
Grant Samuel report 'materially overstates' Cue Energy value
Tuesday, 10 March 2015, 6:36 pm | BusinessDesk
March 10 (BusinessDesk) - A report being used by Cue Energy Resources to fend off a takeover bid from New Zealand Oil & Gas `materially overstates' the target company's value, says Wellington-based Woodward Partners in a report for clients ... More >>
No traction yet in Chinese media from 1080 threat
Tuesday, 10 March 2015, 6:24 pm | BusinessDesk
March 10 (BusinessDesk) - News of the threat to contaminate New Zealand infant formula with 1080 poison has barely registered so far in Chinese media, says expatriate Beijing business adviser David Mahon, and is unlikely to gain traction, he believes. More >>
Trading partners learnt of 1080 threat last month
Tuesday, 10 March 2015, 5:54 pm | BusinessDesk
March 10 (BusinessDesk) - International trading partners first learnt of threats to contaminate New Zealand-manufactured infant milk formula with 1080 poison in February, more than two months after the first letter containing the threat and a sample of ... More >>
MARKET CLOSE: NZ shares fall; Fonterra fund slips
Tuesday, 10 March 2015, 5:50 pm | BusinessDesk
March 10 (BusinessDesk) - New Zealand shares fell, and Fonterra Shareholders' Fund edged lower after the government revealed threats to contaminate infant formula and other dairy powder. Contact Energy, Spark New Zealand and Tower paced the decline ... More >>
NZ dollar drops after threats to contaminate dairy products
Tuesday, 10 March 2015, 5:11 pm | BusinessDesk
March 10 (BusinessDesk) - The New Zealand dollar fell sharply after government officials said police have been investigating threats to contaminate infant formula and related dairy products with the pest killing poison 1080. More >>
