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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 883]
Wellington airport snares new Fiji short-haul route
Monday, 15 December 2014, 11:08 am | BusinessDesk
Dec. 15 (BusinessDesk) - Fiji Airways, the Pacific nation’s national airline, will launch direct flights between Wellington and Nadi from June next year as it looks to extend its reach into New Zealand latching on to increased travel to Fiji, while ... More >>
Holcim, NZ Steel sell lime business to Canada's Graymont
Monday, 15 December 2014, 10:35 am | BusinessDesk
Dec. 15 (BusinessDesk) - Graymont, the Canadian lime business, has agreed to buy McDonalds Lime from Holcim New Zealand, which plans to close its Westport cement plant in 2016, and Bluescope Steel-owned New Zealand Steel for an undisclosed sum. More >>
Cooks Foods widens 1H loss after buying Canadian rights
Monday, 15 December 2014, 9:58 am | BusinessDesk
Dec. 15 (BusinessDesk) - Cooks Global Foods widened its first-half loss after buying the Canadian franchise rights to Esquires Coffee Houses, completing its ownership of the brand outside New Zealand and Australia, and spending more to expand its global ... More >>
Pulse Energy sinks deeper into the red
Monday, 15 December 2014, 9:53 am | BusinessDesk
Dec. 15 (BusinessDesk) - Pulse Energy, the electricity retailer controlled by lines company Buller Electricity, sank deeper into the red in the first half as historical electricity derivatives tied the company to substantially higher than expected wholesale ... More >>
NZ weekly rents rise 5.3% in November, upward trend slowing
Monday, 15 December 2014, 9:06 am | BusinessDesk
Dec. 15 (BusinessDesk) - Median national housing rents rose at an annual pace of 5.3 percent in November, slowing from a month earlier as rental prices continue to plateau, according to online auction site Trade Me. More >>
NZ dollar drifts lower has slide in oil saps risk appetite
Monday, 15 December 2014, 8:48 am | BusinessDesk
Dec. 15 (BusinessDesk) - The New Zealand dollar fell as the continued decline in crude oil prices stoked concern that global economic growth may be faltering, weighing on equity markets and sapping risk appetite. More >>
World Week Ahead: Fed meeting looms
Monday, 15 December 2014, 7:26 am | BusinessDesk
Dec. 15 (BusinessDesk) - US Federal Reserve policy makers are set to gather in the wake of Wall Street’s worst weekly drop in three years, amid heightened concern that the plunge in the price of oil might trigger an overall weakening in the global ... More >>
'We're not going away,' says seabed miner, as appeal dropped
Friday, 12 December 2014, 5:59 pm | BusinessDesk
Dec. 12 (BusinessDesk) - Would-be seabed miner Trans-Tasman Resources has dropped its appeal against its rejected proposal to vacuum ironsands off the ocean floor far offshore in New Zealand's Exclusive Economic Zone, preferring to save the legal ... More >>
Fonterra Shareholders Council largely backs milk supply plan
Friday, 12 December 2014, 5:44 pm | BusinessDesk
Dec. 12 (BusinessDesk) - The Fonterra Shareholders Council is “broadly supportive” of plans for the cooperative to start sourcing milk from South Island suppliers who are not also shareholders, with a couple of caveats. More >>
MARKET CLOSE: NZ shares rise; Z Energy gains
Friday, 12 December 2014, 5:36 pm | BusinessDesk
Dec. 12 (BusinessDesk) - New Zealand shares rose, paced by Z Energy as falling oil prices reduced its input costs. Chorus, the network operator, extended gains on the prospect of charging more for its copper lines. More >>
Lateral posts 1H loss of $634K after August listing
Friday, 12 December 2014, 5:34 pm | BusinessDesk
Dec. 12 (BusinessDesk) - Lateral Corp, the mobile technology developer, posted a first-half loss in its first earnings result since listing on the NZX Alternative Index in August, and has launched a capital raising programe to fund customer acquisition ... More >>
NZ dollar heads for 1.1% weekly gain
Friday, 12 December 2014, 5:07 pm | BusinessDesk
Dec. 12 (BusinessDesk) - The New Zealand dollar is heading for a 1.1 percent weekly gain after traders latched on to the Reserve Bank's signal that local interest rates are still set to rise, adding to the bounce earlier in the week as falling commodity ... More >>
Chatham Rock consent decision due in January
Friday, 12 December 2014, 3:59 pm | BusinessDesk
Dec. 12 (BusinessDesk) - The Environmental Protection Agency's decision-making committee considering the consent for would-be phosphate miner Chatham Rock Phosphate has closed its hearing, and is expected to make a ruling on the project next month. More >>
Aotearoa Fisheries back in black on profitable Sealord
Friday, 12 December 2014, 3:40 pm | BusinessDesk
Dec. 12 (BusinessDesk) - Aotearoa Fisheries, which manages more than $530 million of fisheries assets for its iwi shareholders, returned to profit in the 2014 financial year after its major investment, Sealord group, was back in black after exiting its ... More >>
IT company Fronde falls into the red with dip in govt work
Friday, 12 December 2014, 3:33 pm | BusinessDesk
Dec. 12 (BusinessDesk) - Fronde, which provides IT services to businesses, has had to shed staff and cut other costs after dropping into the red with a much lower-than-expected first-half result due to decreased revenue from its Wellington consulting business. More >>
Precinct sets interest rate on $75M of bonds at 5.54%
Friday, 12 December 2014, 2:31 pm | BusinessDesk
Dec. 12 (BusinessDesk) - Precinct Properties New Zealand, which has increasingly been focusing on Auckland office space, has set the interest rate for its $75 million bond issue, which it will use to repay bank debt. More >>
Precinct sets interest rate on $75M of bonds at 5.54%
Friday, 12 December 2014, 2:08 pm | BusinessDesk
Dec. 12 (BusinessDesk) - Precinct Properties New Zealand, which has increasingly been focusing on Auckland office space, has set the interest rate for its $75 million bond issue, which it will use to repay bank debt. More >>
Mowbray to sell its stamp and coins businesses
Friday, 12 December 2014, 2:07 pm | BusinessDesk
Dec. 12 (BusinessDesk) - Mowbray Collectables, the unprofitable listed auction house business, has put its stamp, coin and bank note trading businesses up for sale in a bid to enhance shareholder value and reposition the company. More >>
Court backs green groups, overturns Ruataniwha decision
Friday, 12 December 2014, 1:57 pm | BusinessDesk
Dec. 12 (BusinessDesk) - A High Court judge has ordered the board of inquiry for New Zealand's largest irrigation scheme, the Ruataniwha Water Storage Scheme in Hawke's Bay, back to the drawing board on the out-clause it created to allow 615 larger farms ... More >>
SCF's Sullivan sentenced: 12 months' home detention
Friday, 12 December 2014, 1:42 pm | BusinessDesk
Dec. 12 (BusinessDesk) - Former South Canterbury Finance director Ed Sullivan, the only person convicted in the Crown's fraud case against the Timaru-based lender, has been sentenced to 12 months' home detention and 400 hours of community work. More >>
