BusinessDesk

Fonterra shifts 'silo' culture since WPC food scare

Tuesday, 9 December 2014, 12:18 pm | BusinessDesk

Dec. 9 (BusinessDesk) - Fonterra Cooperative Group claims to have made significant progress on the entrenched “silo” mentality it was criticised for in the government’s final report into last year’s whey protein contamination scare. More >>

NZ spending on credit, debit cards rises in November

Tuesday, 9 December 2014, 11:32 am | BusinessDesk

Dec. 9 (BusinessDesk) - New Zealanders increased their spending on debit and credit cards in November, with a rise in hospitality and consumable purchases offsetting a decline in apparel and durables. More >>

Whey protein inquiry calls for tighter rules after missteps

Tuesday, 9 December 2014, 10:42 am | BusinessDesk

Dec. 9 (BusinessDesk) - Stage two of a government inquiry into Fonterra Cooperative Group's whey protein contamination scare has recommended the Ministry for Primary Industries beef up its ability to manage food safety, including statutory powers ... More >>

OceanaGold expects annual copper, gold production to be flat

Tuesday, 9 December 2014, 10:08 am | BusinessDesk

Dec. 9 (BusinessDesk) - OceanaGold Corp, which operates the Macraes goldfield in Otago, expects its annual gold and copper production to be largely flat in the year and signalled costs may fall as much as 13 percent. More >>

NZ dollar bounces from 2-year low as investors take profit

Tuesday, 9 December 2014, 8:51 am | BusinessDesk

NZ dollar rebounds after touching fresh 2-year low as investors take profits on greenback More >>

NZX to launch two Aust ETFs; Craigs appointed market maker

Tuesday, 9 December 2014, 8:45 am | BusinessDesk

Dec. 9 (BusinessDesk) - NZX's Smartshares unit, which is being combined with new acquisition Superlife next year, will launch two new exchange traded funds giving investors exposure to Australia's property and high dividend-paying firms, and has ... More >>

While you were sleeping: Wall Street, oil drop

Tuesday, 9 December 2014, 7:47 am | BusinessDesk

Dec. 9 (BusinessDesk) - Wall Street fell from record highs, as a further slump in oil depressed shares of Chevron and Exxon Mobil, while shares of McDonald’s led the decline in the Dow after a worse-than-expected drop in sales. More >>

NZ Super Fund invests US$60M in LanzaTech, taking 17% stake

Tuesday, 9 December 2014, 7:33 am | BusinessDesk

Dec. 8 (BusinessDesk) - The New Zealand Superannuation Fund has invested US$60 million in LanzaTech, taking a 17 percent stake, in what may be the gas fermentation company's last capital raising before beginning to earn revenue. More >>

NZ Police lean on Vodafone mobile devices to cut paperwork

Monday, 8 December 2014, 5:57 pm | BusinessDesk

Dec. 8 (BusinessDesk) - New Zealand Police is targeting more productivity gains in one of the world's biggest deployments of handheld smart devices, working on new applications to further reduce the amount of time spent away from frontline policing. More >>

MARKET CLOSE: NZ shares rise; ANZ, Westpac gain

Monday, 8 December 2014, 5:40 pm | BusinessDesk

Dec. 8 (BusinessDesk) - New Zealand shares rose, led by Australia and New Zealand Banking Group and Westpac Banking Corp, after an Australian report proposed restrictions on lenders that were less onerous than feared. Pacific Edge gained on the launch ... More >>

NZ dollar drops to 2 1/2 year low as Fonterra, RBNZ loom

Monday, 8 December 2014, 5:01 pm | BusinessDesk

NZ dollar drops to 2 1/2 year low as Fonterra, RBNZ loom; strong US jobs More >>

Beijing eyes allegedly corrupt NZ-resident Chinese

Monday, 8 December 2014, 4:11 pm | BusinessDesk

Dec. 8 (BusinessDesk) - The Chinese government has its eye on an unknown number of New Zealand-resident Chinese citizens who are thought to have established themselves here with funds obtained through corrupt practices, the Prime Minister, John Key, ... More >>

UPDATED: Yealands Wine hires UBS for capital raising advice

Monday, 8 December 2014, 3:36 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Yealands Wine Group, New Zealand's sixth-largest wine exporter, has hired investment bank UBS to advise on capital-raising options, including an initial public offering to expand its vineyard assets and grape supply. More >>

NZX dairy futures curve flattens ahead of Fonterra's review

Monday, 8 December 2014, 3:19 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Fonterra Cooperative Group may cut its forecast milk payout by a fifth this week with dwindling prospects that the price of whole milk powder will recover enough to support its current estimate. More >>

Virgin Australia's NZ operations turn to profit

Monday, 8 December 2014, 3:02 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Virgin Australia’s earnings performance on the highly competitive trans-Tasman route has improved from loss-making to a profit as a result of accounting policy changes and other benefits from its alliance with Air New Zealand. More >>

h3>Pacific Edge launches second bladder test in NZ

Dec. 8 (BusinessDesk) - Pacific Edge, the non-invasive bladder cancer test developer, has launched its second cancer test in New Zealand and flags a US launch early next year. More >>

Rangatira holds first-half dividend at 20 cts

Monday, 8 December 2014, 12:07 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Rangatira, the Wellington-based investment group, kept its first-half dividend unchanged at 20 cents a share after posting a drop in first-half profit that mainly reflected the year-earlier sale of its stake in Contract Resources. More >>

NZ manufacturing sales rise 0.4% in 3rd-qtr

Monday, 8 December 2014, 11:51 am | BusinessDesk

NZ manufacturing sales rise 0.4% in 3rd-qtr, as metal offsets slide in dairy, meat More >>

UPDATE: NZX to spend up to $35 mln for fund SuperLife

Monday, 8 December 2014, 11:11 am | BusinessDesk

Dec. 8 (BusinessDesk) - NZX, the stock market operator, will spend up to $35 million buying fund manager and KiwiSaver provider SuperLife as part of a plan to capture the growing Kiwisaver market by launching a series of new exchange traded fund in ... More >>

Yealands Wine hires UBS for capital raising advice

Monday, 8 December 2014, 10:48 am | BusinessDesk

Dec. 8 (BusinessDesk) - Yealands Wine Group, New Zealand's sixth-largest wine exporter, has hired investment bank UBS to advise on capital-raising options, including an initial public offering to expand its vineyard assets and grape supply. More >>