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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 931]
NZ dollar rises against euro after weak European reports
Thursday, 25 September 2014, 8:36 am | BusinessDesk
Sept. 25 (BusinessDesk) - The New Zealand dollar jumped against the European common currency overnight after a report signalled further weakness in the European economy, fuelling bets the European Central Bank may add further stimulus. More >>
Auckland households to get record $335 electricity dividend
Thursday, 25 September 2014, 5:54 am | BusinessDesk
Sept. 24 (BusinessDesk) - Hundreds of Auckland householders are receiving a financial boost of $335 today, in a record annual electricity dividend totalling $105 million from Auckland Energy Consumer Trust More >>
Tight fuel supplies expected due to NZ refinery strike
Wednesday, 24 September 2014, 5:56 pm | BusinessDesk
Sept. 24 (BusinessDesk) - Contingency plans are being put in place to prevent any potential shortfall in fuel supplies from pending industrial action next month at New Zealand Refining, the nation's only oil refinery. More >>
MARKET CLOSE: NZ shares rise as Nuplex flags sale
Wednesday, 24 September 2014, 5:34 pm | BusinessDesk
Sept. 24 (BusinessDesk) - New Zealand shares rose, led by Nuplex Industries after it flagged a possible sale of two Australasian businesses. Kathmandu Holdings paced the gain, recovering from a decline after reporting weaker annual earnings yesterday. More >>
NZ dollar falls after Fonterra cuts forecast payout
Wednesday, 24 September 2014, 5:17 pm | BusinessDesk
Sept. 24 (BusinessDesk) - The New Zealand dollar fell to a year-low after Fonterra Cooperative Group cut its forecast payout to farmers for the current season in the face of dwindling dairy prices. The decline was limited by reports Japanese Prime ... More >>
Biggest Infratil trade since January
Wednesday, 24 September 2014, 4:11 pm | BusinessDesk
Sept. 24 (BusinessDesk) - The biggest trade in Infratil shares since January has coincided with the price hovering above a six-year high. More >>
Boom year for Milford Funds as funds generate more fees
Wednesday, 24 September 2014, 4:00 pm | BusinessDesk
Sept. 24 (BusinessDesk) - Milford Funds , the public issuer of Milford Asset Management's retail funds, reported a 79 percent jump in annual fee revenue reflecting an inflow of money from investors and increase performance fees. More >>
Mainzeal liquidator gets $151.3M unsecured creditor claims
Wednesday, 24 September 2014, 3:15 pm | BusinessDesk
Sept. 24 (BusinessDesk) - The liquidator for the failed Mainzeal group of companies has received $151.3 million in claims from unsecured creditors, and is working its way through the applications as it looks at ways to claw back funds for those people ... More >>
NZ companies seek a slice of growing demand for biocides
Wednesday, 24 September 2014, 12:53 pm | BusinessDesk
Sept. 24 (BusinessDesk) - Some 33 New Zealand companies and four district health boards stand to benefit directly from research underway into a so-called biocide tool box. More >>
Fletcher to close Australian copper tube manufactuing unit
Wednesday, 24 September 2014, 12:22 pm | BusinessDesk
Sept. 24 (BusinessDesk) - Fletcher Building, New Zealand's largest listed company, will close its unprofitable Crane copper tube manufacturing business in Australia amid increased competition. More >>
UPDATED: Reduced Fonterra forecast depends on lift in prices
Wednesday, 24 September 2014, 11:53 am | BusinessDesk
Sept. 24 (BusinessDesk) - Fonterra Cooperative Group has predicated its reduced milk price forecast for the 2014/2015 season on a recovery in dairy product prices of about 30 percent by March next year, chief executive Theo Speirings says. More >>
NZ narrows monthly trade deficit in August
Wednesday, 24 September 2014, 11:14 am | BusinessDesk
Sept. 24 (BusinessDesk) - New Zealand posted a narrower trade deficit in August as exports of live animals and dairy products underpinned international sales, and imports from major trading partners declined. More >>
Comvita sees annual earnings lift of up to 32%
Wednesday, 24 September 2014, 10:51 am | BusinessDesk
Sept. 24 (BusinessDesk) - Comvita, which produces health products derived from manuka honey, sees annual earnings growth of up to 32 percent, while bemoaning a growing imbalance between the first and second halves of the year. More >>
Nuplex shares jump 7.6% as it mulls selling two ANZ units
Wednesday, 24 September 2014, 10:48 am | BusinessDesk
Nuplex shares jump 7.6% on confirmation it's in talks to sell two ANZ businesses More >>
Chorus to ask shareholders to lift directors' fee pool 12%
Wednesday, 24 September 2014, 9:23 am | BusinessDesk
Sept. 24 (BusinessDesk) - Chorus, the telecommunications network operator, will ask shareholders to hike the pool for directors' fees 12 percent if it needs to bolster its board as it tries to limit the impact of regulation on its revenue streams. More >>
Fonterra slashes 2015 milk payout, earnings tumble 76%
Wednesday, 24 September 2014, 9:22 am | BusinessDesk
Sept. 24 (BusinessDesk) - Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More >>
NZ dollar falls to year-low after Fonterra cuts forecast
Wednesday, 24 September 2014, 8:39 am | BusinessDesk
Sept. 24 (BusinessDesk) - The New Zealand dollar fell to a year low as it declined along with other commodity currencies on concern about slowing growth in China and cemented that low after Fonterra Cooperative Group cut its forecast payout to farmers. More >>
While you were sleeping: Health-care stocks slide
Wednesday, 24 September 2014, 7:17 am | BusinessDesk
Sept. 24 (BusinessDesk) - Health care stocks including Medtronic fell after the US Treasury Department said it plans to rein in corporate tax inversions. More >>
UPDATED: SLI co-founders Brash, Marder sell shares
Tuesday, 23 September 2014, 6:38 pm | BusinessDesk
Sept. 23 (BusinessDesk) - SLI Systems co-founders Geoff Brash and Steve Marder were among initial shareholders of the search engine developer who sold some 6.8 percent of the company at the end its 16-month lock-up period. More >>
MARKET CLOSE: NZ shares rise as power companies extend gains
Tuesday, 23 September 2014, 5:42 pm | BusinessDesk
Sept. 23 (BusinessDesk) - New Zealand shares rose as energy companies extended yesterday's gains after the incumbent National-led government's convincing general election win on Saturday, lifting the threat of further regulation for the power sector. Kathmandu ... More >>
