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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 87]
PFI buys $17.2m Takanini property in sale and lease-back
Thursday, 28 March 2019, 8:10 pm | BusinessDesk
March 28 (BusinessDesk) - Property for Industry says it has bought an industrial property in Takanini for $17.2 million. More >>
Businesses sink further into a mire of despond
Thursday, 28 March 2019, 5:57 pm | BusinessDesk
March 28 (BusinessDesk) - Businesses are getting ever gloomier with investment and employment intentions now barely positive and cost pressures rising. Export intentions have fallen to near record lows - below levels at any time during the Asian and global ... More >>
Former Sky TV CEO Fellet resigns from board
Thursday, 28 March 2019, 4:31 pm | BusinessDesk
March 28 (BusinessDesk) - Sky Network Television's former chief executive John Fellet is resigning from the board after a transition period, the company said in a release to the stock exchange. More >>
Govt 8-mth surplus bigger than expected
Thursday, 28 March 2019, 2:10 pm | BusinessDesk
March 28 (BusinessDesk) - The government's eight-month operating surplus was bigger than expected, primarily because it didn't spend as much as it anticipated, which helped offset a smaller company tax take than forecast. More >>
Chorus takes stab at unbundled fibre pricing
Thursday, 28 March 2019, 2:08 pm | BusinessDesk
March 28 (BusinessDesk) - Chorus is warning the broadband industry not to expect the level of savings from unbundling fibre services that were achieved on the copper network. More >>
Westland cuts payout forecast by 3% on disappointing sales
Thursday, 28 March 2019, 1:24 pm | BusinessDesk
March 28 (BusinessDesk) - Westland Milk Products lowered its forecast payout for shareholders for the current season by about 3 percent due to weaker than expected sales. More >>
Employers worry about rising wages
Thursday, 28 March 2019, 12:57 pm | BusinessDesk
March 28 (BusinessDesk) - Employment confidence ebbed in the March quarter as workers became gloomier about pay rises in the coming year. More >>
Air NZ to defer $750 mln of capex
Thursday, 28 March 2019, 12:20 pm | BusinessDesk
March 28 (BusinessDesk) - Air New Zealand plans a series of cost-cutting measures to weather slowing demand including deferring $750 million of capital spending on fleet upgrades. More >>
Minister appoints monetary policy decision-making committee
Thursday, 28 March 2019, 11:43 am | BusinessDesk
March 28 (BusinessDesk) - Two academics and one economist will join four internal members on the Reserve Bank's newly minted independent decision-making body, said Finance Minister Grant Robertson. More >>
Kiwi remains on backfoot after dovish surprise from RBNZ
Thursday, 28 March 2019, 11:01 am | BusinessDesk
March 28 (BusinessDesk) - The New Zealand dollar remained under pressure after the central bank unexpectedly said its next rate move was likely to be a cut, dropping its neutral stance. More >>
Drop 100% renewable target in favour of stricter ETS
Thursday, 28 March 2019, 10:20 am | BusinessDesk
March 28 (BusinessDesk) - The government’s proposed 100 percent renewable electricity target risks driving up power costs for relatively little emissions benefit, a study by the New Zealand Initiative says. More >>
MARKET CLOSE: NZ shares surge on rate cut prospect
Wednesday, 27 March 2019, 9:19 pm | BusinessDesk
MARKET CLOSE: NZ shares surge as rate cut prospect buoys yield plays; Mercury, Meridian hit records More >>
NZ dollar tumbles on surprise RBNZ mood change
Wednesday, 27 March 2019, 9:17 pm | BusinessDesk
March 27 (BusinessDesk) - The New Zealand dollar took a nosedive when the central bank said it is now more likely to cut rates as both the global and domestic economic outlook weaken. More >>
UPDATE: Mercury commits to $256 mln Turitea wind development
Wednesday, 27 March 2019, 7:07 pm | BusinessDesk
March 27 (BusinessDesk) - Mercury NZ plans to start site works for a $256 million wind farm south-east of Palmerston North in August. More >>
Council forms new holding company for Napier Port sale
Wednesday, 27 March 2019, 7:05 pm | BusinessDesk
March 27 (BusinessDesk) - Hawke’s Bay Regional Council has approved the creation of a new holding company to advance the sale of shares in Napier Port. More >>
The conundrum of Metlifecare's discount
Wednesday, 27 March 2019, 7:03 pm | BusinessDesk
March 27 (BusinessDesk) - Why do Metlifecare shares trade at less than 70 cents in the dollar compared with its net tangible asset backing and yet shares in competitors such as Ryman Healthcare and Summerset Group trade at huge premiums to NTA? More >>
UPDATE: RBNZ says next move is likely a rate cut
Wednesday, 27 March 2019, 7:02 pm | BusinessDesk
March 27 (BusinessDesk) - The Reserve Bank of New Zealand kept the official cash rate on hold at 1.75 percent but changed its language to say it now expects to cut rates. The kiwi dollar tumbled more than 1 US cent. More >>
RBNZ says next move is likely a rate cut, kiwi dollar falls
Wednesday, 27 March 2019, 5:25 pm | BusinessDesk
March 27 (BusinessDesk) - The Reserve Bank of New Zealand kept the official cash rate on hold at 1.75 percent but changed its language to say it now expects to cut rates. The kiwi dollar tumbled more than 1 US cent. More >>
Finaccess attracts 91% acceptances in partial takeover offer
Wednesday, 27 March 2019, 4:37 pm | BusinessDesk
March 27 (BusinessDesk) - Finaccess Capital will scale down acceptances in its bid to secure three-quarters of the shares in Restaurant Brands New Zealand. More >>
Nikko Asset Mgmt dreads an A2 Milk takeover offer
Wednesday, 27 March 2019, 2:03 pm | BusinessDesk
March 27 (BusinessDesk) - Nikko Asset Management New Zealand’s head of equities Stuart Williams says he dreads waking up to the news that some global giant has launched a takeover offer for A2 Milk. More >>
