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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 909]
While you were sleeping: Stocks slide on oil
Wednesday, 5 November 2014, 7:39 am | BusinessDesk
Nov. 5 (BusinessDesk) - Equities fell on both sides of the Atlantic along the price of oil and a downgrade in the economic growth prospects for the euro zone. More >>
Dairy product prices steady, whole milk powder rises
Wednesday, 5 November 2014, 6:33 am | BusinessDesk
Nov. 5 (BusinessDesk) - Dairy product prices were relatively stable in the latest GlobalDairyTrade auction, with the whole milk powder price index advancing. More >>
MARKET CLOSE: NZ shares gain as NZOG signals capital return
Tuesday, 4 November 2014, 5:38 pm | BusinessDesk
Nov. 4 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index to its ninth straight record close, as New Zealand Oil & Gas signalled plans for a capital return given cash flow from production at its Tui oil field. Dividend-paying stocks, ... More >>
NZ dollar falls vs. A$ after RBA tones down rhetoric
Tuesday, 4 November 2014, 5:26 pm | BusinessDesk
Nov. 4 (BusinessDesk) - The New Zealand dollar fell against its trans-Tasman counterpart after the Reserve Bank of Australia toned down its rhetoric in calling its currency too high, and ahead of the latest Fonterra Cooperative Group dairy auction. More >>
RBA keeps cash rate at record low, reiterates view on growth
Tuesday, 4 November 2014, 5:03 pm | BusinessDesk
Nov. 4 (BusinessDesk) - The Reserve Bank of Australia kept its cash rate at a record low, where it has sat since August 2013, reiterating its view that the nation's growth will remain below trend, helping keep inflation tame. More >>
Goldsmith approves second tranche of FMCA regulation
Tuesday, 4 November 2014, 4:31 pm | BusinessDesk
Nov. 4 (BusinessDesk) - The second phase of regulation of the Financial Markets Conduct Act, which overhauled the decades old Securities Act, has been approved by newly installed Commerce Minister Paul Goldsmith. More >>
Commodity prices fall for eighth month in October
Tuesday, 4 November 2014, 1:26 pm | BusinessDesk
Nov. 4 (BusinessDesk) - New Zealand commodity prices fell for the eighth consecutive month in October, to the lowest level since March last year, as signs of recovery in dairy prices were offset by a drop in the price of pelts. More >>
Canterbury University gets funding for wearable computers
Tuesday, 4 November 2014, 12:04 pm | BusinessDesk
Nov. 4 (BusinessDesk) - Two University of Canterbury researchers have received $870,000 in Marsden funding over three years to research how engineering and psychology could combine to make wearable computer systems easier to use. More >>
NZ new vehicle sales jump to record in October
Tuesday, 4 November 2014, 10:39 am | BusinessDesk
NZ new vehicle sales jump to record in October, headed for highest ever in 2014 More >>
Sealegs raises $1.3M in share issue to Jersey investor
Tuesday, 4 November 2014, 10:18 am | BusinessDesk
Nov. 4 (BusinessDesk) - Jersey-based investor Pirlinton Holdings has injected $1.3 million into Sealegs Corp, which makes amphibious boats, via a share issue which will be used for development and working capital requirements. More >>
NZ Oil & Gas to return $60M to shareholders via reduction
Tuesday, 4 November 2014, 9:47 am | BusinessDesk
Nov. 4 (BusinessDesk) - New Zealand Oil & Gas, the listed energy explorer, will return about $60 million to shareholders, saying cash on hand will be more than it needs to grow its business as production ramps up at the Tui field. More >>
Precinct taps US investors for $98M in private placement
Tuesday, 4 November 2014, 9:38 am | BusinessDesk
Nov. 4 (BusinessDesk) - Precinct Properties New Zealand, formerly known as AMP NZ Office, has tapped US investors for US$75 million in a private debt placement with the proceeds to be used to repay debt. More >>
Blis sees slower profitabilty as 1H loss widens
Tuesday, 4 November 2014, 9:26 am | BusinessDesk
Nov. 4 (BusinessDesk) - Blis Technologies, the NZX-listed biotech company, anticipates a slower move to profitability after its first-half loss widened, and says it faces disciplinary action from the stock market regulator over an announcement it made ... More >>
NZ dollar drops below 77 US cents as Aussie falls
Tuesday, 4 November 2014, 8:57 am | BusinessDesk
Nov. 4 (BusinessDesk) - The New Zealand dollar dropped below a key support level of 77 US cents to touch its lowest in more than a year as it was weighed down by a weaker Australian dollar and a strengthening US currency. More >>
Lanzatech, Indian group produce omega-3 fatty acids from CO2
Tuesday, 4 November 2014, 8:23 am | BusinessDesk
Nov. 3 (BusinessDesk) - LanzaTech, the New Zealand-founded carbon recycling company, and a research team from India’s IOC-DBT Center for Advanced Bio-Energy Research have developed a way of using carbon dioxide emissions to produce omega-3 rich fatty ... More >>
While you were sleeping: Wall Street hits records
Tuesday, 4 November 2014, 7:44 am | BusinessDesk
Nov. 4 (BusinessDesk) - Wall Street touched fresh record-highs after a report showing a stronger-than-expected pace of growth in US manufacturing bolstered optimism about the outlook for the economy and corporate profits. More >>
NZ Super Fund ends AMP Capital's 12-year NZ equity mandate
Monday, 3 November 2014, 6:26 pm | BusinessDesk
Nov. 3 (BusinessDesk) - The New Zealand Superannuation Fund, which was set up to partially fund the cost of a ballooning baby boomer pension bill, has ended a 12-year mandate with AMP Capital to manage part of its local equity portfolio. More >>
NZ govt's social housing plans aim to alleviate poverty: Key
Monday, 3 November 2014, 5:57 pm | BusinessDesk
Nov. 3 (BusinessDesk) - The government's plan to increase the private provision of state-housing is part of a wider goal to alleviate the country's most vulnerable by putting more cash in their pockets, Prime Minister John Key says. More >>
MARKET CLOSE: NZX 50 rises to record on yield hunt
Monday, 3 November 2014, 5:39 pm | BusinessDesk
Nov. 3 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index to its eighth consecutive record close, after Heartland New Zealand affirmed guidance. Genesis Energy and Infratil gained as investors hunted yield in a low interest rate environment. More >>
Westpac NZ margins squeezed by shift to fixed rate mortgages
Monday, 3 November 2014, 5:29 pm | BusinessDesk
Nov. 3 (BusinessDesk) - The switch from floating to fixed interest rates mortgages has impacted Westpac New Zealand’s net interest margin,which fell six basis points in the 2014 financial year. More >>
