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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 90]
NZ dollar subsides after early boost from Fed, GDP data
Thursday, 21 March 2019, 8:55 pm | BusinessDesk
March 21 (BusinessDesk) - The New Zealand dollar ended the session little changed after earlier rising on dovish statements from the Federal Reserve and after local GDP figures exceeded expectations. More >>
Patience needed for Fonterra's streamlining, says FNZC
Thursday, 21 March 2019, 7:17 pm | BusinessDesk
March 21 (BusinessDesk) - Farmers and investors will need to be patient with Fonterra Cooperative Group's overhaul of its business, which sometime-critic First NZ Capital analyst Arie Dekker says is moving in the right direction. More >>
Agria, Lai fined $220,000 for good character breaches
Thursday, 21 March 2019, 5:35 pm | BusinessDesk
March 21 (BusinessDesk) - PGG Wrightson’s largest shareholder Alan Lai and his company Agria have been fined $220,000 and ordered to pay another $30,000 in costs by the High Court for breaching good character conditions imposed by the Overseas ... More >>
Moderate GDP growth unlikely to worry RBNZ, economists say
Thursday, 21 March 2019, 5:03 pm | BusinessDesk
March 21 (BusinessDesk) - New Zealand’s economy grew less than the central bank expected in the fourth quarter but economists don't expect the data to spur any change in the Reserve Bank's message at next week's policy review. More >>
NZ 4Q GDP rises 0.6%, driven by service industries
Thursday, 21 March 2019, 2:06 pm | BusinessDesk
March 21 (BusinessDesk) - New Zealand’s economy grew in line with expectations in the fourth quarter, as the retail and accommodation sectors saw the strongest lift in activity since the 2011 Rugby World Cup. More >>
No trade wobbles in China for Fonterra
Thursday, 21 March 2019, 11:26 am | BusinessDesk
March 21 (BusinessDesk) - Fonterra Cooperative Group hasn't faced any issues getting its products into China, where its business hit some speed wobbles when the butter market slowed. More >>
Balance sheet concerns loom after Metroglass downgrade
Thursday, 21 March 2019, 11:13 am | BusinessDesk
March 21 (BusinessDesk) - There were already signs of blood in the water and sharks circling Metro Performance Glass, even before this week’s profit downgrade. More >>
NZ dollar benefits from dovish Federal Reserve
Thursday, 21 March 2019, 11:11 am | BusinessDesk
March 21 (BusinessDesk) - The New Zealand dollar rose after the US Federal Reserve signalled only one further rate hike in 2020. More >>
First NZ's return to Jarden moniker
Thursday, 21 March 2019, 10:59 am | BusinessDesk
March 21 (BusinessDesk) - First NZ Capital's plans to reclaim its Jarden moniker is part of a 10-year plan to encapsulate an expanding suite of businesses with a greater impact on the capital markets. More >>
MARKET CLOSE: NZ shares fall as Synlait drops
Wednesday, 20 March 2019, 9:01 pm | BusinessDesk
March 20 (BusinessDesk) - New Zealand shares fell for a second day, led lower by Synlait Milk after the dairy company reported weaker earnings, disappointing investors who had anticipated another strong result. More >>
Govt fund managers call for social media changes
Wednesday, 20 March 2019, 9:00 pm | BusinessDesk
March 20 (BusinessDesk) - The managers of five government-related funds with more than $90 billion in funds under management say they are adding their weight to callers for multi-national social media owners Facebook, Twitter and Google to take action ... More >>
NZ dollar eases amid snags in US-China trade talks
Wednesday, 20 March 2019, 8:59 pm | BusinessDesk
March 20 (BusinessDesk) - The New Zealand dollar eased a little, dragged down as falling interest rates hurt the Australian dollar and concerns persisted about snags in trade talks between the United States and China. More >>
Pan Pac cleared over handling of outfall leak
Wednesday, 20 March 2019, 5:51 pm | BusinessDesk
March 20 (BusinessDesk) - Pan Pac Forest Products has been cleared over its handling of damage to its wastewater outfall off the coast north of Napier. More >>
Fonterra to hit debt reduction target from asset sales
Wednesday, 20 March 2019, 4:52 pm | BusinessDesk
Fonterra to hit debt reduction target from announced asset sales More >>
NZ annual BOP widens in December
Wednesday, 20 March 2019, 2:09 pm | BusinessDesk
March 20 (BusinessDesk) - New Zealand’s annual current account deficit continued to widen in the December quarter and the nation’s net international liability position worsened as offshore assets took a hit. More >>
UPDATE: Synlait shares plunge on 1H profit decline
Wednesday, 20 March 2019, 2:07 pm | BusinessDesk
March 20 (BusinessDesk) - Synlait Milk shares dropped more than 17 percent after the company reported a 9.7 percent decline in first-half net profit on lower margins. More >>
Synlait reports 9.7% decline in 1H net profit
Wednesday, 20 March 2019, 12:18 pm | BusinessDesk
March 20 (BusinessDesk) - Synlait Milk reported a 9.7 percent decline in first-half net profit on lower margins for its fully-finished infant formula but said it continues to expect a lift in full-year earnings. More >>
Fonterra returns to the black with a $76m first-half profit
Wednesday, 20 March 2019, 12:00 pm | BusinessDesk
March 20 (BusinessDesk) - Fonterra Co-operative Group has reported a $76 million first-half net profit. Newly confirmed chief executive Miles Hurrell says it’s good to be back in the black but performance is not where it should be. More >>
Dairy product prices gain as supply is set to ease
Wednesday, 20 March 2019, 11:15 am | BusinessDesk
March 20 (BusinessDesk) - Dairy product prices rose at the Global Dairy Trade auction, increasing for the eighth consecutive time, as dry weather conditions are weighing on supply. More >>
NZ dollar remains in tight range, focus on FOMC
Wednesday, 20 March 2019, 11:06 am | BusinessDesk
March 20 (BusinessDesk) - The New Zealand dollar remained in a tight range ahead of tomorrow's Federal Reserve’Open Market Committee decision but was supported by a lift in dairy auction prices overnight. More >>
