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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.

Contact BusinessDesk

Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 913]

Chorus plan to add director after lifting fee cap

Wednesday, 29 October 2014, 3:58 pm | BusinessDesk

Oct. 29 (BusinessDesk) - Chorus, the regulated telecommunications network operator, wants to add another independent director to its board to enhance its capability in what's become a vastly different landscape in just three years. More >>

Dorchester gets past 90% ownership threshold for Turners

Wednesday, 29 October 2014, 3:14 pm | BusinessDesk

Oct. 29 (BusinessDesk) - Dorchester Pacific, the finance company, has reached the 90 percent threshold in its takeover of Turners Group, allowing it to mop up remaining shares in the car auction firm. More >>

NZ business confidence gains in post-election bounce

Wednesday, 29 October 2014, 2:07 pm | BusinessDesk

Oct. 29 (BusinessDesk) - New Zealand business confidence advanced for the first time in eight months in October, rebounding from a two-year low as certainty returned following last month's general election. The New Zealand dollar rose after the survey ... More >>

Sealord signs quota pooling deal with iwi

Wednesday, 29 October 2014, 2:04 pm | BusinessDesk

Oct. 29 (BusinessDesk) - Sealord has signed a quota pooling deal with three separate iwi collectives which will see New Zealand's second-largest fishing company share profits obtained from the catching, processing and selling of the fish. More >>

Pumpkin Patch accounts tagged over reliance on banker

Wednesday, 29 October 2014, 11:39 am | BusinessDesk

Oct. 29 (BusinessDesk) - Pumpkin Patch's 2014 annual accounts were tagged by auditor PwC over the unprofitable childrenswear retailer's reliance on bank funding to continue trading as a going concern. More >>

NZX posts slower Q3 revenue growth as election weighed

Wednesday, 29 October 2014, 10:03 am | BusinessDesk

Oct. 29 (BusinessDesk) - NZX, the New Zealand stock exchange operator, said third quarter revenue growth almost halved from the year earlier pace as activity slowed ahead of September's general election and the number of new listings declined. More >>

Sanford expands executive team

Wednesday, 29 October 2014, 9:47 am | BusinessDesk

Oct. 29 (BusinessDesk) - Sanford, the country's biggest listed fishing group, has expanded its management team to kick off structural changes under new chief executive Volker Kuntzsch. More >>

Heartland's stronger asset quality earns Fitch upgrade

Wednesday, 29 October 2014, 8:53 am | BusinessDesk

Oct. 29 (BusinessDesk) - Heartland Bank, which trades on the NZX as Heartland New Zealand, had its credit rating lifted a notch by Fitch Ratings, after the agency was impressed by its improved asset quality and stronger earnings. More >>

NZ dollar rises as greenback falls on weaker durable goods

Wednesday, 29 October 2014, 8:34 am | BusinessDesk

Oct. 29 (BusinessDesk) - The New Zealand dollar gained after weaker than expected US durable goods data weighed on the outlook for growth in the world's largest economy. More >>

While you were sleeping: US consumer gains confidence

Wednesday, 29 October 2014, 7:53 am | BusinessDesk

Oct. 29 (BusinessDesk) - Stocks on both sides of the Atlantic advanced amid better-than-expected corporate earnings and US consumer confidence climbing to the highest level in seven years. More >>

Infratil executive Lib Petagna sells 3 million shares

Tuesday, 28 October 2014, 6:00 pm | BusinessDesk

Oct. 28 (BusinessDesk) - Lib Petagna, the chief investment officer of HRL Morrison & Co which manages Infratil, has sold down his stake in the listed infrastructure investor, with Accident Compensation Corp's investment portfolio taking up the majority ... More >>

MARKET CLOSE: NZX 50 rises to new record on yield hunt

Tuesday, 28 October 2014, 5:37 pm | BusinessDesk

MARKET CLOSE: NZX 50 rises to new record on yield hunt; MRP, Spark, Sky TV gain More >>

NZ dollar holds gains as traders await central bank meetings

Tuesday, 28 October 2014, 5:08 pm | BusinessDesk

Oct. 28 (BusinessDesk) - The New Zealand dollar held gains in the local trading session as traders remain cautious ahead of the Reserve Bank and US Federal Reserve policy meetings on Thursday. More >>

Opus flags $5.5M bill after missing out on project

Tuesday, 28 October 2014, 3:55 pm | BusinessDesk

Oct. 28 (BusinessDesk) - Opus International Consultants, the listed engineering firm, flagged the loss of an undisclosed project will weigh on profit margins and cost it $5.5 million in the year. More >>

Update: Orion Health seeks up to $150mln, eschews forecasts

Tuesday, 28 October 2014, 3:45 pm | BusinessDesk

Oct. 28 (BusinessDesk) - Orion Health Group, which develops software systems for patient health management, wants to raise up to $150 million in new capital in an initial public offer but says it won't offer earnings forecast because of the "lumpy" ... More >>

CORRECT: Orion Health valued up to $915M in IPO

Tuesday, 28 October 2014, 3:07 pm | BusinessDesk

Oct. 28 (BusinessDesk) - Orion Health Group, which develops software systems for patient health management, wants to raise up to $150 million in an initial public offer which would value the firm at almost a billion dollars and give public investors ... More >>

Pyne Gould late accounts to be tagged by auditor

Tuesday, 28 October 2014, 1:36 pm | BusinessDesk

Oct. 28 (BusinessDesk) - Pyne Gould Corp, whose shares have been suspended from trading over the late filing of its annual accounts, says its annual report will be tagged by its auditor, which is still going through the asset management firm's books and ... More >>