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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 938]
Longer Wellington runway worth 2-5 flights daily by 2060
Thursday, 11 September 2014, 5:14 pm | BusinessDesk
Sept. 11 (BusinessDesk) - Plans for a $350 million runway extension for Wellington International Airport would provide the capital with between 16 and 33 extra flights a week by 2060, connecting the city to long-haul destinations in Asia and North America ... More >>
Turners & Growers enters Chilean JV to grow grapes
Thursday, 11 September 2014, 3:55 pm | BusinessDesk
Sept. 11 (BusinessDesk) - Turners & Growers, the fruit marketer majority owned by Germany's BayWa, has entered a joint venture with Unifrutti Chile to grow and export Peruvian grapes. More >>
Martin Jetpack raises $6.5 mln in oversubscribed placement
Thursday, 11 September 2014, 3:52 pm | BusinessDesk
Sept. 11 (BusinessDesk) - Martin Aircraft Co, which plans to make the world's first commercial jetpack allowing a person to fly, raised $6.5 million in an oversubscribed private placement ahead of plans to take the company public. More >>
Grant Herbert found guilty over failed insurance group
Thursday, 11 September 2014, 3:25 pm | BusinessDesk
Sept. 11 (BusinessDesk) - Grant Herbert, the former owner and director of failed insurance broking firm Herbert Insurance Group, has been found guilty on 24 of 26 charges he was facing under the Crimes Act and Secret Commissions Act. More >>
Canterbury University to build world-first colour x-ray scan
Thursday, 11 September 2014, 2:41 pm | BusinessDesk
Sept. 11 (BusinessDesk) - The University of Canterbury said it will build the world’s first human colour x-ray scanner, with the help of a six-year, $12 million, government grant announced today. More >>
APN abandons US$250 mln 'junk bond' sale as investors baulk
Thursday, 11 September 2014, 11:55 am | BusinessDesk
Sept. 11 (BusinessDesk) - APN News & Media, the Australasian media group looking at spinning out its New Zealand unit, has dumped plans to raise US$250 million in a note offering from US investors and is looking at others ways to improve its financial ... More >>
Katherine Rich stands firm against calls to resign
Thursday, 11 September 2014, 11:29 am | BusinessDesk
Sept. 11 (BusinessDesk) - Former National MP Katherine Rich is standing firm against calls for her to resign from the government-funded Health Promotion Agency board. More >>
Beer barons cry poor as sales slacken in three-way market
Thursday, 11 September 2014, 11:20 am | BusinessDesk
Sept. 10 (BusinessDesk) - Financial results from the three brewers that control 90 percent of New Zealand's beer market show continued erosion in demand and margins for mainstream beers, even as the retail value of sales rises. More >>
Kiwi falls after RBNZ's Wheeler says strength 'unjustified'
Thursday, 11 September 2014, 10:26 am | BusinessDesk
NZ dollar falls below 82 US cts after RBNZ's Wheeler says strength still 'unjustified' More >>
Reserve Bank says migration impact on housing 'muted' so far
Thursday, 11 September 2014, 9:19 am | BusinessDesk
Sept. 11 (BusinessDesk) - The Reserve Bank is keenly watching the impact New Zealand's decade-high net migration inflow is having on the housing market, which it says hasn't pushed up property prices as aggressively as in the past. More >>
Kiwi dollar strength still 'unjustified and unsustainable'
Thursday, 11 September 2014, 9:13 am | BusinessDesk
Sept. 11 (BusinessDesk) - The New Zealand's dollar persistent strength is still "unjustified and unsustainable" after a slump in commodity prices this year, though it should come down as the US Federal Reserve moves away from running a zero interest rate ... More >>
Higher interest rates, loan curbs rein in house prices: RBNZ
Thursday, 11 September 2014, 9:12 am | BusinessDesk
Sept. 11 (BusinessDesk) - The Reserve Bank's moves to hike interest rates and impose restrictions on low-equity home loans has helped slow the pace of house price increases, the central bank says. More >>
RBNZ keeps OCR at 3.5%, signals slower pace of future hikes
Thursday, 11 September 2014, 9:08 am | BusinessDesk
Sept. 11 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won't be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar ... More >>
NZ dollar holds near 7-month low before RBNZ review
Thursday, 11 September 2014, 8:28 am | BusinessDesk
Sept. 11 (BusinessDesk) - The New Zealand dollar held near a seven-month low ahead of the Reserve Bank decision on interest rates today where governor Graeme Wheeler is expected to signal rates will remain on hold for longer than previously forecast. More >>
While you were sleeping: Apple bolsters Wall St
Thursday, 11 September 2014, 7:43 am | BusinessDesk
Sept. 11 (BusinessDesk) - Wall Street advanced, helped by Apple shares as investors and analysts bet that CEO Tim Cook is proving he has the ability to fill Steve Jobs’ shoes. More >>
MARKET CLOSE: NZ shares extend decline on US rate outlook
Wednesday, 10 September 2014, 5:41 pm | BusinessDesk
Sept. 10 (BusinessDesk) - New Zealand stocks extended their decline from a record in quiet pre-election trading as speculation US interest rates will rise sapped investor appetite for risk-sensitive equity markets. Companies shedding rights to upcoming ... More >>
NZ dollar little changed as RBNZ rate review looms
Wednesday, 10 September 2014, 5:09 pm | BusinessDesk
Sept. 10 (BusinessDesk) - The New Zealand dollar was little changed near a six-month low ahead of tomorrow's Reserve Bank policy review, where governor Graeme Wheeler is expected to keep the key rate on hold as he assesses the impact of his tightening ... More >>
VnC Cocktails, makers of Disick drink, in final death throes
Wednesday, 10 September 2014, 4:50 pm | BusinessDesk
Sept. 10 (BusinessDesk) - New Zealand shake and pour cocktails company VnC Cocktails has gone into liquidation after failed attempts to sell it. More >>
Start-up Twingl switches to Chrome plugin for education tool
Wednesday, 10 September 2014, 12:52 pm | BusinessDesk
Sept. 9 (BusinessDesk) - Software start-up Twingl, which raised $100,000 from the Lighting Lab accelerator programme, has abandoned plans to develop its education track tool as a standalone product in favour of a plug-in for Google's Chrome web ... More >>
Ports of Auckland firms up supply chain with logistics jv
Wednesday, 10 September 2014, 12:50 pm | BusinessDesk
Sept. 10 (BusinessDesk) - Ports of Auckland, the ocean hub of the country's biggest city, is extending its control over the national supply chain in a joint venture with privately held transport and logistics firm Netlogix. More >>
