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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 881]
IkeGPS's COO Paul Brewerton resigns, no replacement sought
Wednesday, 17 December 2014, 4:08 pm | BusinessDesk
Dec. 17 (BusinessDesk) - Paul Brewerton, chief operating officer of ikeGPS Group, has left the remote measuring devices and software company and will not be replaced. More >>
Chorus credit rating outlook upgraded to 'stable'
Wednesday, 17 December 2014, 4:03 pm | BusinessDesk
Dec. 17 (BusinessDesk) - Chorus, the telecommunications network operator, has been given some breathing room from Moody's Investors Service, which has upgraded the outlook on the company's credit rating due to the regulator's draft ruling on wholesale ... More >>
PGC to continue share buybacks; Torchlight audit still going
Wednesday, 17 December 2014, 2:54 pm | BusinessDesk
Dec. 17 (BusinessDesk) - Pyne Gould Corp, which is controlled by managing director George Kerr, will keep on buying back shares as it looks to narrow the shortfall from its net tangible asset value, and said it expects the audit of its Torchlight ... More >>
NZ govt's deferred surplus won't hurt credit rating: Moody's
Wednesday, 17 December 2014, 2:30 pm | BusinessDesk
Dec. 17 (BusinessDesk) - The one-year delay forecast in the New Zealand government's return to surplus doesn't have any implications for its Aaa credit rating, with everything else going in the right direction, according to Moody's Investors Service. More >>
CORRECT: Zespri says kiwifruit growers facing record returns
Wednesday, 17 December 2014, 11:41 am | BusinessDesk
Dec. 17 (BusinessDesk) - Zespri International, the grower-owned kiwifruit marketing company, said it expects record per-hectare returns for green and green organic kiwifruit this season following supply constraints, favourable market conditions and strong ... More >>
FMA leaves civil claim against SCF to Crown Asset Management
Wednesday, 17 December 2014, 11:35 am | BusinessDesk
Dec. 17 (BusinessDesk) - The Financial Markets Authority won't chase South Canterbury Finance in a civil claim, saying it can't justify the cost of doing so and leaving it to Crown Asset Management (CAML) to pursue the failed lender's directors. More >>
ACCC appeals Air NZ, PT Garuda win in Australian cartel case
Wednesday, 17 December 2014, 11:15 am | BusinessDesk
Dec. 17 (BusinessDesk) - The Australian Competition and Consumer Commission is appealing am Australian Federal Court ruling clearing carriers Air New Zealand and PT Garuda Indonesia of fixing prices for international air freight services. More >>
Comvita shortfall bookbuild priced at 7% premium
Wednesday, 17 December 2014, 11:10 am | BusinessDesk
Dec. 17 (BusinessDesk) - Comvita, the Te Puke-based maker of health products based on manuka honey, raised $24.4 million as strong demand in the yesterday's shortfall bookbuild saw investors pay a 7 percent premium to the rights issue. More >>
NZ Sept quarter current account deficit near six-year high
Wednesday, 17 December 2014, 10:49 am | BusinessDesk
Dec. 17 (BusinessDesk) - The impact of falling dairy export receipts was a primary contributor to the balance of payments deficit on current account pushing out to $2.5 billion in the three months to Sept. 30, the highest since the December 2008 ... More >>
ComCom charges Hawkins' finance companies over debt recovery
Wednesday, 17 December 2014, 10:46 am | BusinessDesk
Dec. 17 (BusinessDesk) - The Commerce Commission has filed criminal proceedings against two finance companies run by former 1980s high-flyer Allan Hawkins over their debt recovery practices. More >>
Wynyard warns FY revenue may miss forecast as contracts lag
Wednesday, 17 December 2014, 10:29 am | BusinessDesk
Dec. 17 (BusinessDesk) - Wynyard Group, the security software firm, warned annual revenue may come in lower than its forecast $29 million as negotiations with some of its larger customers lag. The shares fell. More >>
Kiwifruit growers facing record pre-hectare returns: Zespri
Wednesday, 17 December 2014, 10:06 am | BusinessDesk
Dec. 17 (BusinessDesk) - Zespri International, the grower-owned kiwifruit marketing company, said it expects record per-hectare returns for green and green organic kiwifruit this season following supply constraints, favourable market conditions and strong ... More >>
Scales affirms 2015 earnings guidance for $20.8 mln profit
Wednesday, 17 December 2014, 9:23 am | BusinessDesk
Dec. 17 (BusinessDesk) - Scales Corp, the fruit and vegetables logistics company, affirmed its earnings guidance for 2015 with growth tipped across all of its units. More >>
Intueri buys out 50% stake in Online Courses Australia
Wednesday, 17 December 2014, 9:21 am | BusinessDesk
Dec. 17 (BusinessDesk) - Intueri Education Group, New Zealand's largest private training college, will buy the remaining half of Online Courses Australia Group that it doesn't own for an initial payment of $14 million and the remainder based on next year's ... More >>
Postie to launch new brands, taps new owner's supply chain
Wednesday, 17 December 2014, 8:50 am | BusinessDesk
Dec. 17 (BusinessDesk) - Postie, the retail chain bought out of administration by South African retailer Pepkor, is betting on its new owner's economies of scale to boost sales in a "challenging" retail environment. More >>
NZ dollar gains in 'volatile night' on global forex markets
Wednesday, 17 December 2014, 8:45 am | BusinessDesk
Dec. 17 (BusinessDesk) - The New Zealand dollar gained in volatile markets after Russian policymakers hiked interest rates to shore up a tumbling ruble and European data beat expectations, sapping demand for the US dollar ahead of the Christmas and ... More >>
While you were sleeping: Energy rebound, ruble slide
Wednesday, 17 December 2014, 7:42 am | BusinessDesk
Dec. 17 (BusinessDesk) - Equities on Wall Street and in Europe rose as investors found value in beaten-down stocks including energy shares such as Chevron and Nabors Industries. More >>
Dairy product prices rise from five-year low
Wednesday, 17 December 2014, 6:41 am | BusinessDesk
Dec. 17 (BusinessDesk) - Dairy product prices rose in the latest GlobalDairyTrade auction, propelled by a jump in the anhydrous milk fat and butter. More >>
MARKET CLOSE: NZ shares fall, paced by OceanaGold, Fletcher
Tuesday, 16 December 2014, 5:37 pm | BusinessDesk
Dec. 16 (BusinessDesk) - New Zealand shares joined in a global sell off, led by OceanaGold Corp and Fletcher Building, as investors were spooked by a falling oil price. Air New Zealand, Mainfreight and Z Energy gained on the prospect of cheaper fuel costs. More >>
NZ dollar little changed ahead of Fonterra milk auction
Tuesday, 16 December 2014, 5:04 pm | BusinessDesk
Dec. 16 (BusinessDesk) - The New Zealand dollar was little changed ahead of the next GlobalDairyTrade auction, the first since dairy exporter Fonterra Cooperative Group slashed its forecast payout for the current season in the face of falling milk prices. More >>
