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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 95]
NZ shares cap off 10-year bull market with 0.9% weekly gain
Friday, 8 March 2019, 9:09 pm | BusinessDesk
March 8 (BusinessDesk) - New Zealand shares rallied into the 10th anniversary of the longest bull market in share market history, gaining 0.9 percent this week after central banks around the world indicate interest rates will remain low and might ... More >>
NZ dollar range bound ahead of US jobs data
Friday, 8 March 2019, 8:11 pm | BusinessDesk
March 8 (BusinessDesk) - The New Zealand dollar was slightly higher but stuck to a very tight range ahead of US jobs data later in the global trading day. More >>
NZ building activity stronger than expected in 4Q
Friday, 8 March 2019, 2:23 pm | BusinessDesk
March 8 (BusinessDesk) - New Zealand's building activity rose in the December quarter as working on non-residential buildings drove volume growth and the stronger number may lead economists to revise up their economic growth forecasts for the quarter. More >>
Manufacturing volumes rose 2% but value fell 0.5%
Friday, 8 March 2019, 2:18 pm | BusinessDesk
March 8 (BusinessDesk) - The volume of manufacturing sales rose 2 percent in the December quarter from the September quarter, led by a 4 percent boost in dairy and meat products manufacturing, but the value of those sales fell 0.5 percent, Statistics ... More >>
Scales Corp and Alliance Group to create petfood venture
Friday, 8 March 2019, 12:02 pm | BusinessDesk
March 8 (BusinessDesk) - Agribusiness group Scales Corp said Alliance Group will pay $15 million for a 50 percent stake in its Meateor business and operations, creating a petfood joint venture. More >>
NZ dollar lifts against euro
Friday, 8 March 2019, 11:25 am | BusinessDesk
March 8 (BusinessDesk) - The New Zealand dollar lifted against the euro after the European Central Bank pushed out the timing of its first post-crisis rate hike on a softer outlook. More >>
Power networks told to make progress on data sharing
Friday, 8 March 2019, 11:09 am | BusinessDesk
March 8 (BusinessDesk) - Electricity retailers and network companies have been told to speed up their efforts on data sharing or risk having the Electricity Authority and the Commerce Commission impose standards on them. More >>
Tilt buys Liverpool Range wind project in NSW
Friday, 8 March 2019, 8:33 am | BusinessDesk
March 7 (BusinessDesk) - Tilt Renewables says it has bought the Liverpool Range wind project which could add up to 1,000 megawatts of renewable energy generation to New South Wales when fully constructed. More >>
MARKET CLOSE: NZ shares edge up as yield stocks in favour
Thursday, 7 March 2019, 9:19 pm | BusinessDesk
MARKET CLOSE: NZ shares edge up as yield stocks in favour; Restaurant Brands up on sales growth More >>
NZ dollar mixed on contradictory Oz data
Thursday, 7 March 2019, 8:30 pm | BusinessDesk
March 7 (BusinessDesk) - The New Zealand dollar was mixed after poor retail sales data in Australia were offset by surprisingly strong trade data. The Bank of Canada also joined the ranks of central banks noting signs of a weaker-than-expected economy. More >>
McCashin's Brewery pulls out of Veritas deal
Thursday, 7 March 2019, 7:55 pm | BusinessDesk
March 7 (BusinessDesk) - McCashin's Brewery won't take a cornerstone stake in food and beverage investor Veritas Investments, backing out of an option to buy a near-20 percent stake at a hefty premium. More >>
Bids for Fonterra's Tip Top due in by Monday
Thursday, 7 March 2019, 7:54 pm | BusinessDesk
March 7 (BusinessDesk) - Indicative bids to buy Tip Top ice-cream from Fonterra Cooperative Group are due in by Monday, according to the Australian Financial Review which says it has seen a copy of the confidential information memorandum. More >>
Analysts can't make NorthWest's deal on Healthscope stack up
Thursday, 7 March 2019, 4:09 pm | BusinessDesk
March 7 (BusinessDesk) - Never say never, but it’s looking nigh on impossible for Canada-based NorthWest Healthcare Properties Real Estate Investment Trust to make its A$1.258 billion Healthscope deal stack up. More >>
Rugby World Cup rural broadband: find a friend
Thursday, 7 March 2019, 4:00 pm | BusinessDesk
March 7 (BusinessDesk) - Around 40,000 rural householders will need to leave the couch (nay, the house) to watch the full gamut of Rugby World Cup matches this year. That’s because their broadband won’t be good enough to stream the games. More >>
Trade Me takeover offer beats independent adviser valuation
Thursday, 7 March 2019, 2:41 pm | BusinessDesk
March 7 (BusinessDesk) - Trade Me shareholders are being told Apax Partners' $2.56 billion takeover bid eclipses the independent adviser's valuation, but won't see the report for another week or two. More >>
Westpac settles over breach of Nicky Hager's privacy
Thursday, 7 March 2019, 2:40 pm | BusinessDesk
March 7 (BusinessDesk) - Westpac New Zealand has settled its dispute with investigative journalist Nicky Hager over the breach of his privacy in providing his banking details to the police. More >>
NZ wholesale trade dips in Dec quarter, could weigh on GDP
Thursday, 7 March 2019, 2:36 pm | BusinessDesk
March 7 (BusinessDesk) - New Zealand's wholesale trade dipped in the December quarter after strong rises in the prior six months and may lead economists to lower their expectations for economic growth. More >>
Restaurant Brands lifts full-year sales as expansion pays
Thursday, 7 March 2019, 1:17 pm | BusinessDesk
Restaurant Brands New Zealand, the subject of a partial takeover offer by Finaccess Capital, lifted its full-year sales as the fast-food operator's expansion to Australia and Hawaii continued to bear fruit. More >>
Judith Swales tasked with running Fonterra's consumer unit
Thursday, 7 March 2019, 1:09 pm | BusinessDesk
Judith Swales tasked with running Fonterra's consumer and food service unit More >>
NZ dollar higher against Aussie after disappointing Aus GDP
Thursday, 7 March 2019, 11:07 am | BusinessDesk
March 7 (BusinessDesk) - The New Zealand dollar was higher against the Australian dollar after disappointing fourth-quarter gross domestic product data across the Tasman. More >>
