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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 904]
Fonterra affirms 2015 milk price payout of $5.30/kgMS
Wednesday, 12 November 2014, 11:42 am | BusinessDesk
Nov. 12 (BusinessDesk) - Fonterra Cooperative Group chairman John Wilson has affirmed the world's biggest dairy exporter plans to pay its farmers $5.30 per kilogram of milk solids for the 2015 season. More >>
UPDATE: RBNZ keeps LVR restrictions in place
Wednesday, 12 November 2014, 11:10 am | BusinessDesk
Nov. 12 (BusinessDesk) - The Reserve Bank will retain restrictions on low-equity mortgage lending because governor Graeme Wheeler continues to see risks in the housing market, particularly given strong migration flows. More >>
Comvita widens 1H loss; announces plans to raise $24.4M
Wednesday, 12 November 2014, 11:00 am | BusinessDesk
Nov. 12 (BusinessDesk) - Comvita, which makes health products derived from manuka honey, widened its first-half loss and detailed plans to raise $24.4 million from shareholders. More >>
DNZ 1H profit rises 41% on revaluations, reduced costs
Wednesday, 12 November 2014, 10:17 am | BusinessDesk
Nov. 12 (BusinessDesk) - DNZ Property Fund, the listed property investor, posted a 41 percent gain in first-half profit after recognising an increase in the value of its portfolio and trimming corporate and finance costs. More >>
Pyne Gould censured, fined for rule breach over director
Wednesday, 12 November 2014, 10:08 am | BusinessDesk
Nov. 12 (BusinessDesk) - Pyne Gould Corp, which lost one of its New Zealand resident directors in July, was censured and fined by the stock exchange disciplinary body for breaching corporate governance rules by failing to notify the exchange or seek ... More >>
Goodman Property 1H profit drops as decline in financial ass
Wednesday, 12 November 2014, 10:06 am | BusinessDesk
Nov. 12 (BusinessDesk) - Goodman Property Trust, New Zealand's largest listed property investor by market capitalisation, reported an 8 percent drop in first-half profit as a decrease in the value of its interest rate swaps offset a lift in rental income. More >>
Kiwi Income 1st-half earnings rise 12.3% on reduced fees
Wednesday, 12 November 2014, 9:21 am | BusinessDesk
Nov. 12 (BusinessDesk) - Kiwi Income Property Trust, the country's second-largest property trust by market capitalisation, reported a 12.3 percent lift in first-half operating earnings as it saved on external management fees and achieved rental growth ... More >>
NZ burgeoning commercial property market stokes development
Wednesday, 12 November 2014, 9:19 am | BusinessDesk
Nov. 12 (BusinessDesk) - New Zealand commercial property prices and sales have been increasing in the past six months, boosted by interest from foreign investors, which in turn has ignited appetite for development in a sector which has been lacklustre ... More >>
RBNZ keeps LVR restrictions in place as housing risks remain
Wednesday, 12 November 2014, 9:15 am | BusinessDesk
Nov. 12 (BusinessDesk) - The Reserve Bank will retain restrictions on low-equity mortgage lending because governor Graeme Wheeler continues to see risks in the housing market, particularly given strong migration flows. More >>
NZ banks well-placed to weather downturn, RBNZ says
Wednesday, 12 November 2014, 9:08 am | BusinessDesk
Nov. 12 (BusinessDesk) - New Zealand's banks are strong enough to withstand a sharp downturn, and would be able to stay within regulatory requirements, according to the Reserve Bank. More >>
NZ dollar soars to 7-year high vs. yen on Abe poll plans
Wednesday, 12 November 2014, 8:46 am | BusinessDesk
Nov. 12 (BusinessDesk) - The New Zealand dollar soared to the highest in more than seven years against the yen on reports Prime Minister Shinzo Abe will call a snap election, seeking a mandate for further economic reform, including an increase in ... More >>
While you were sleeping: Profit-taking caps advances
Wednesday, 12 November 2014, 7:42 am | BusinessDesk
Nov. 12 (BusinessDesk) - Wall Street slipped, after both the Dow and the S&P 500 climbed to fresh record highs earlier in the session, as investors weighed whether the outlook for corporate earnings justified pushing equities higher still. More >>
Just Water independent directors accept founder's offer
Tuesday, 11 November 2014, 6:29 pm | BusinessDesk
Nov. 11 (BusinessDesk) - Just Waters International's independent directors have recommended shareholders accept founder and majority investor Tony Falkenstein's takeover bid for the water cooler and supplies group. More >>
MARKET CLOSE: NZX 50 at record; led by MRP on yield hunt
Tuesday, 11 November 2014, 5:39 pm | BusinessDesk
Nov. 11 (BusinessDesk) - New Zealand shares rose to a record, led by MightyRiverPower and Spark New Zealand, as investors sought dividend paying equities in a low interest rate environment. Infratil advanced to a seven-year high as it signalled a capital ... More >>
NZ dollar little changed ahead of RBNZ report, LVRs in view
Tuesday, 11 November 2014, 5:15 pm | BusinessDesk
Nov. 11 (BusinessDesk) - The New Zealand dollar was little changed ahead of the Reserve Bank's financial stability report tomorrow, which may include some comment on restrictions on low-equity loans having done their job. More >>
Air NZ ditches 7 domestic routes, flags $300M on new planes
Tuesday, 11 November 2014, 5:08 pm | BusinessDesk
Nov. 11 (BusinessDesk) - Christopher Luxon chief executive of Air New Zealand has told customers the national carrier will stop service on seven of its domestic routes because of the cost of maintaining the regional fleet, while flagging a $300 million ... More >>
Diagnostic firm Tiro Lifesciences gets new repayable grant
Tuesday, 11 November 2014, 4:29 pm | BusinessDesk
Nov. 11 (BusinessDesk) - Tiro Lifesciences, an early-stage medical diagnostic company, has received the first repayable grant of $450,000 from Callaghan Innovation under its expanded business incubator network. More >>
UPDATE: Sealegs founder steps in after CEO resigns
Tuesday, 11 November 2014, 3:07 pm | BusinessDesk
Nov. 11 (BusinessDesk) - Sealegs founder David McKee Wright will re-join the company's board and act as chief executive with former Cabinet Minister Wayne Mapp also appointed a director after the head of the amphibious vehicle maker David Glen resigned. More >>
Cavalier shares tumble to more than 20-year low
Tuesday, 11 November 2014, 1:56 pm | BusinessDesk
Nov. 11 (BusinessDesk) - Shares of Cavalier Corp fell to the lowest in more than two decades as the carpet maker fails to lift earnings in a competitive market against cheaper overseas imports as high wool prices crimp margins. More >>
Cawthron inks deal with Sigma-Aldrich to sell biotoxins
Tuesday, 11 November 2014, 1:35 pm | BusinessDesk
Cawthron Institute signs up global partner to sell valuable marine biotoxins used in shellfish testing More >>
