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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 916]
Wheeler says LVR policy worth 25-50 basis points off OCR
Thursday, 23 October 2014, 9:47 am | BusinessDesk
Oct. 23 (BusinessDesk) - The Reserve Bank's introduction of limits to low-equity mortgage lending last year had a similar impact on inflation as raising the official cash rate by as much as 50 basis points, governor Graeme Wheeler told a global banking ... More >>
NZ dollar falls ahead of inflation on prospect of low rates
Thursday, 23 October 2014, 8:39 am | BusinessDesk
NZ dollar weakens ahead of 3Q inflation on speculation interest rates to stay on hold More >>
While you were sleeping: Boeing shares, oil drop
Thursday, 23 October 2014, 7:38 am | BusinessDesk
Oct. 23 (BusinessDesk) - Wall Street slid paced by Boeing as investors worried about expenses for its 787 Dreamliner passenger jet, while oil fell after a report showed US inventories rose more than expected last week. More >>
Shell and Todd caught drilling without approval
Wednesday, 22 October 2014, 7:55 pm | BusinessDesk
Oct. 22 (BusinessDesk) - Multi-national oil company Shell's New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand's Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document ... More >>
MARKET CLOSE: NZX 50 rises to record, led by Xero
Wednesday, 22 October 2014, 5:38 pm | BusinessDesk
Oct. 22 (BusinessDesk) - New Zealand shares rose to a record close, led by Xero, as investors returned to more risk-based equities after last week's volatility. Nuplex gained after selling two of its Australasian assets, while Fletcher Building touched ... More >>
NZ dollar gains after Australian inflation higher
Wednesday, 22 October 2014, 5:13 pm | BusinessDesk
Oct. 22 (BusinessDesk) - The New Zealand dollar rose after Australian inflation was a little higher than expected in the third quarter, supporting demand for the Australian dollar and dragging the kiwi with it. More >>
NZ Super Fund encouraged to establish derivatives policy
Wednesday, 22 October 2014, 5:07 pm | BusinessDesk
Oct. 22 (BusinessDesk) - The New Zealand Superannuation Fund, which was set up to partially cover the cost of a ballooning baby boomer pension bill, has been encouraged to bed in a series of organisational changes over the past few years, and implement ... More >>
Quattro IPO back on as it halves NZ property portfolio
Wednesday, 22 October 2014, 4:37 pm | BusinessDesk
Quattro IPO back on as it halves NZ property portfolio, cuts capital raise by 28% More >>
CORRECT: ACC FY profit more than halves as claims mount
Wednesday, 22 October 2014, 4:11 pm | BusinessDesk
Oct. 22 (BusinessDesk) - Accident Compensation Corp, the state-owned accident insurer, reported a 57 percent drop in annual profit after it faced more claims than anticipated, and as its investment portfolio returns missed expectations. More >>
Vector warns on $80M hit from falling electricity use: CEO
Wednesday, 22 October 2014, 3:54 pm | BusinessDesk
Oct. 22 (BusinessDesk) - Vector, the Auckland lines company, says falling electricity consumption will cost it up to $80 million because of the way it's regulated, according to chief executive Simon Mackenzie. More >>
Orion private placements provide clue for IPO price
Wednesday, 22 October 2014, 3:06 pm | BusinessDesk
Oct. 22 (BusinessDesk) - Recent issues of Orion Health Group shares to private investors provide clues to the issue price in its upcoming initial public offer, More >>
Fletcher drops to 2014 low as investors sell on guidance
Wednesday, 22 October 2014, 2:16 pm | BusinessDesk
Oct. 22 (BusinessDesk) - Shares of Fletcher Building, New Zealand's largest listed company, have fallen to their lowest level of the year after the building supplies and construction company's earnings guidance disappointed investors. More >>
James Pascoe increases stake in Warehouse to 6.3%
Wednesday, 22 October 2014, 12:55 pm | BusinessDesk
Oct. 22 (BusinessDesk) - James Pascoe, the retail group owned by David and Anne Norman, has added to its holding in Warehouse Group by buying on market this week, taking advantage of shares trading near their lows for the year. More >>
ACC annual profit more than halves as claims mount
Wednesday, 22 October 2014, 12:12 pm | BusinessDesk
Oct. 22 (BusinessDesk) - Accident Compensation Corp, the state-owned accident insurer, reported a 57 percent drop in annual profit after it faced more claims than anticipated, and as its investment portfolio returns missed expectations. More >>
UPDATE: Nuplex shares rise 3.9% on sale of ANZ units
Wednesday, 22 October 2014, 10:39 am | BusinessDesk
UPDATE: Nuplex shares rise 3.9% on sale of ANZ units to CHAMP backed company More >>
Xero eyes possible A$1 billion float in US, media reports
Wednesday, 22 October 2014, 10:24 am | BusinessDesk
Oct. 22 (BusinessDesk) - Xero, the cloud-based accounting software company, is moving ahead with plans to list in the US with an initial public offer of A$1 billion flagged, according to media reports. More >>
Seeka sees annual profit growth of up to 11%
Wednesday, 22 October 2014, 10:06 am | BusinessDesk
Oct. 22 (BusinessDesk) - Seeka Kiwifruit Industries, the country's biggest kiwifruit grower, sees annual profit growth of up to 11 percent and is planning to expand its capacity in coming years as kiwifruit crops recover from the outbreak of the Psa-V ... More >>
Nuplex agrees to sell ANZ units to Champ for A$127.5 mln
Wednesday, 22 October 2014, 10:03 am | BusinessDesk
Nuplex agrees to sell ANZ units to Champ-backed company for A$127.5 mln More >>
Jimmy Koh, KVB Kunlun fined, censured for NZX rule breaches
Wednesday, 22 October 2014, 9:48 am | BusinessDesk
Jimmy Koh, KVB Kunlun fined $65,000, censured for NZX rule breaches over Z, other IPOs More >>
Quantum of fees work to follow second MTF judgment
Wednesday, 22 October 2014, 9:06 am | BusinessDesk
Oct. 22 (BusinessDesk) - The second judgment in the antitrust regulator's case against auto-lender Motor Trade Finance over its loan contracts has been released, and leaves more work for the financier and Commerce Commission to calculate the quantum of fees ... More >>
