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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 946]

Westland cuts forecast payout on falling global dairy prices

Thursday, 28 August 2014, 8:40 am | BusinessDesk

Aug. 28 (BusinessDesk) - Westland Milk Products, the Hokitika-based dairy cooperative, has overtaken rival Fonterra Cooperative Group in cutting its forecast payout to farmers, citing falling global dairy prices and the persistent strength in the kiwi ... More >>

NZ dollar buoyed by Fonterra plans to expand capacity

Thursday, 28 August 2014, 8:38 am | BusinessDesk

Aug. 28 (BusinessDesk) - The New Zealand dollar rose after Fonterra Cooperative Group yesterday said it would maintain its milk price forecast, expand its local processing capacity and form a partnership to help sell its products in China, New Zealand's ... More >>

While you were sleeping: Eyes on ECB

Thursday, 28 August 2014, 7:47 am | BusinessDesk

Aug. 28 (BusinessDesk) - Investors flocked to a US auction of US$35 billion in five-year notes as European bond yields sank to record lows amid bets that the European Central Bank will add more stimulus in an effort to prop up the flagging euro-zone economy. More >>

MARKET CLOSE: NZ shares rise to record, led by Pacific Edge

Wednesday, 27 August 2014, 5:39 pm | BusinessDesk

MARKET CLOSE: NZ shares rise to record as investors hunt yield, led by Pacific Edge More >>

TeamTalk posts full-year loss on Farmside charge

Wednesday, 27 August 2014, 5:08 pm | BusinessDesk

Aug. 27 (BusinessDesk) - TeamTalk, the listed telecommunications company, posted a full-year loss after writing down goodwill on its Farmside rural unit, a charge that required the cooperation of its lender to avoid a covenant breach. More >>

Ebos takes 25% stake in Good Price Pharmacy Warehouse

Wednesday, 27 August 2014, 5:06 pm | BusinessDesk

Aug. 27 (BusinessDesk) - Ebos Group, which trebled its annual profit after acquiring pharmaceutical wholesaler and distributor in Australia Symbion, has taken a quarter-stake in an Australian pharmacy retailer and is hunting for more. More >>

NZ dollar gains as Fonterra affirms milk price

Wednesday, 27 August 2014, 5:03 pm | BusinessDesk

Aug. 27 (BusinessDesk) - The New Zealand dollar rose after Fonterra Cooperative Group affirmed its forecast milk price payout to farmers, and unveiled a $615 million joint venture with China's Beingmate. More >>

Fonterra to offer at least 20% premium for Beingmate shares

Wednesday, 27 August 2014, 4:03 pm | BusinessDesk

Fonterra to offer at least 20% premium for Beingmate shares in deal to drive Anmum sales More >>

Smiths City shares climb after Edison says stock undervalued

Wednesday, 27 August 2014, 3:04 pm | BusinessDesk

Aug. 27 (BusinessDesk) - Shares of Smiths City Group climbed 8 percent after a report by Edison Investment Research said the furnishing and appliance store's plans to expand to the North Island hold promise, and the stock is undervalued relative to ... More >>

Fonterra to buy 20% stake in China's Beingmate

Wednesday, 27 August 2014, 1:41 pm | BusinessDesk

Aug. 27 (BusinessDesk) - Fonterra Cooperative Group plans to enter a joint venture with China's Beingmate that will own the dairy giant's Darnum plant in Australia and produce infant formula products for the Chinese market, for a total investment ... More >>

NZ food prices fall in July, cementing expectations on rates

Wednesday, 27 August 2014, 12:21 pm | BusinessDesk

NZ food prices fall in July, cementing expectations interest rates are on hold till 2015 More >>

Chch property investor wins policy appeal in Supreme Court

Wednesday, 27 August 2014, 12:04 pm | BusinessDesk

Aug. 27 (BusinessDesk) - Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More >>

UPDATE: Ebos outlook subdued after Symbion boosts FY profit

Wednesday, 27 August 2014, 12:00 pm | BusinessDesk

Aug. 27 (BusinessDesk) - Ebos Group is unlikely to repeat a trebling of annual profit fuelled by last year acquisition of the Symbion pharmaceutical wholesaler and distributor in Australia, where regulatory changes are putting pressure on the sector. More >>

UPDATE: Air NZ shares hit 2-mth high on profit, special div

Wednesday, 27 August 2014, 11:50 am | BusinessDesk

Aug. 27 (BusinessDesk) - Air New Zealand shares rose to a two-month high after the government-controlled national carrier boosted annual profit 45 percent on increased passenger numbers and capacity, and said it will double shareholder returns with ... More >>

Genesis beats prospectus forecast with 53% drop in FY profit

Wednesday, 27 August 2014, 10:14 am | BusinessDesk

Aug. 27 (BusinessDesk) - Genesis Energy, New Zealand’s largest energy retailer, posted a 53 percent drop in full-year profit, beating its prospectus forecast and affirmed it was on track to meet its targets for 2015 even in the face of heightened ... More >>

Snakk Media lifts 1Q sales, mulls ASX listing

Wednesday, 27 August 2014, 10:10 am | BusinessDesk

Aug. 27 (BusinessDesk) - Snakk Media, which matches advertisers with mobile users, said first quarter sales rose 67 percent and it continues to pursue an ASX listing. More >>

Air NZ boosts annual profit 45%, signals special dividend

Wednesday, 27 August 2014, 9:34 am | BusinessDesk

Aug. 27 (BusinessDesk) - Air New Zealand, the government-controlled national carrier, boosted annual profit 45 percent as increased passenger numbers and capacity lifted earnings, and will pay a special dividend after reviewing its capital structure. More >>