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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 912]
Chatham Rock to delay exercise of options
Thursday, 30 October 2014, 3:26 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Chatham Rock Phosphate, which is seeking to mine phosphate nodules from the seabed on the Chatham Rise, will push out the date to exercise its listed options until 12 months after it receives marine consent to allow it share ... More >>
Souter says low-price seats, quality will demand bus demand
Thursday, 30 October 2014, 2:21 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Brian Souter, the Scottish transport entrepreneur who today launched a new long-distance bus service in the North Island, says the number of seats available at lower prices and consistency of product will drive demand. More >>
CORRECT: NZ dollar drops 2% in 2 hours on Fed, RBNZ
Thursday, 30 October 2014, 2:07 pm | BusinessDesk
Oct. 30 (BusinessDesk) - The New Zealand dollar dropped about 2 percent in just two hours this morning after the Federal Reserve gave a more upbeat than expected assessment of the US economy and New Zealand's Reserve Bank gave no signal it would need to ... More >>
FMA sets sales, conduct and governance as priority targets
Thursday, 30 October 2014, 2:07 pm | BusinessDesk
Oct. 30 (BusinessDesk) - The Financial Markets Authority is stepping up efforts to police the finance sector, highlighting three areas of concern where it sees poor practice or misconduct posing a risk to the public as it beds in the final stages ... More >>
BNZ chief Healy sees growth in rural, business lending
Thursday, 30 October 2014, 1:29 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Bank of New Zealand chief executive Anthony Healy expects the broader rural sector to continue to grow with greater investment along the value-chain, and anticipates increased business lending after a period of low credit expansion. More >>
Fletcher dumps two executives in overhaul of business units
Thursday, 30 October 2014, 1:20 pm | BusinessDesk
Oct. 30 (BusinessDesk) - Fletcher Building chief executive Mark Adamson has continued with his management team overhaul, dumping two executives in a restructuring of the company's building products and infrastructure products division. More >>
Freightways fattens margins, lifts earnings; shares jump
Thursday, 30 October 2014, 11:41 am | BusinessDesk
Oct. 30 (BusinessDesk) - Freightways, the listed courier and data management company, affirmed it is on track to lift 2015 earnings after recording the strongest first-quarter performance in a decade, widening its profit margin on a 17 percent increase in sales. ... More >>
BNZ annual earnings rise 2.4% on lending growth
Thursday, 30 October 2014, 10:48 am | BusinessDesk
Oct. 30 (BusinessDesk) - Bank of New Zealand, the local unit of National Australia Bank, lifted annual earnings 2.4 percent as the lender lifted lending to businesses and households and reported smaller charges on bad debts. More >>
NZ dollar drops 2% on more upbeat Fed, cautious RBNZ
Thursday, 30 October 2014, 10:46 am | BusinessDesk
Oct. 30 (BusinessDesk) - The New Zealand dollar dropped about 2 percent in just two hours this morning after the Federal Reserve gave a more upbeat than expected assessment of the US economy and New Zealand's Reserve Bank gave no signal it would need to ... More >>
ComCom confirms lower rates of return for network monopolies
Thursday, 30 October 2014, 9:48 am | BusinessDesk
Oct. 30 (BusinessDesk) - The Commerce Commission has confirmed it is reducing the allowable rate of return on capital for regulated electricity and gas network monopolies in a move that Auckland network owner Vector says will place "further pressure ... More >>
RBNZ drops bias on higher rates; kiwi falls
Thursday, 30 October 2014, 9:12 am | BusinessDesk
Oct. 30 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent, and toned down the prospect of higher interest rates as inflation remains unexpectedly low. The New Zealand dollar fell. More >>
NZ dollar drops 1% as Fed more upbeat about US economy
Thursday, 30 October 2014, 8:32 am | BusinessDesk
Oct. 30 (BusinessDesk) - The New Zealand dollar dropped 1 percent after the Federal Reserve was more upbeat about the outlook for the US economy than expected in its policy statement this morning, strengthening the greenback. More >>
While you were sleeping: Fed ends asset purchases
Thursday, 30 October 2014, 8:00 am | BusinessDesk
Oct. 30 (BusinessDesk) - Wall Street and US Treasuries fell, extending earlier losses, after Federal Reserve policy makers ended its monthly bond-buying program and signalled they saw “sufficient underlying strength in the broader economy.” More >>
Souter launches ManaBus.com long-distance bus operator
Thursday, 30 October 2014, 6:59 am | BusinessDesk
Oct. 29 (BusinessDesk) - Competition has increased in the long-distance bus market with the launch today of a new city-to-city express service, ManaBus.com. More >>
MARKET CLOSE: NZX 50 rises to new record, Meridian, MRP gain
Wednesday, 29 October 2014, 5:36 pm | BusinessDesk
Oct. 29 (BusinessDesk) - New Zealand shares rose to a record for a fifth day, paced by Meridian Energy and MightyRiverPower as investors hunted for yield and repositioned portfolios ahead of an international index change. Guinness Peat Group recovered ... More >>
Skellerup sees annual profit growth of up to 18%
Wednesday, 29 October 2014, 5:33 pm | BusinessDesk
Oct. 29 (BusinessDesk) - Skellerup Holdings, the industrial rubber goods maker, sees annual earnings growth of up to 18 percent as it looks to cash in on growing demand for food safety and clean energy applications. More >>
Vital Healthcare flags A$15.5M of Australian developments
Wednesday, 29 October 2014, 5:14 pm | BusinessDesk
Oct. 29 (BusinessDesk) - Vital Healthcare Property Trust, the country's biggest listed medical and healthcare property investor, has signalled development plans totalling A$15.5 million in Australia, and has sold a New Zealand property as it looks to exit ... More >>
NZ dollar holds gains ahead of central bank meetings
Wednesday, 29 October 2014, 5:09 pm | BusinessDesk
Oct. 29 (BusinessDesk) - The New Zealand dollar held gains in local trading ahead of statements from the Federal Reserve and Reserve Bank tomorrow. More >>
One-fifth of national water infrastructure needs renewal
Wednesday, 29 October 2014, 4:53 pm | BusinessDesk
Oct. 29 (BusinessDesk) - A quarter of New Zealand's $35.7 billion of water, wastewater and stormwater infrastructure is more than 50 years old and up to 20 percent needs renewal or is unserviceable, according to the 3 Waters project by Local Government ... More >>
Smelter's future back in focus for Meridian
Wednesday, 29 October 2014, 4:26 pm | BusinessDesk
Oct. 29 (BusinessDesk) - Meridian Energy will watch first for closure by fossil fuel-fired power stations before making any decision on how it responds if the Rio Tinto, majority owner of the Tiwai Point aluminium smelter, exercises its option to terminate its ... More >>
