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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 958]
Brian Henry admits market manipulation charges, fined $130k
Thursday, 7 August 2014, 5:03 pm | BusinessDesk
Aug. 7 (BusinessDesk) - Brian Henry, a venture capitalist who helped found Diligent Board Member Services, has admitted breaches of the Securities Markets Act by manipulating the company's shares in early 2010. More >>
French bank latest to fall to IRD tax avoidance net
Thursday, 7 August 2014, 3:44 pm | BusinessDesk
Aug. 7 (BusinessDesk) - The New Zealand arm of the French bank, BNP Paribas, is the latest international bank to fall foul of the New Zealand tax department's campaign against the use of cross-border convertible notes, quietly agreeing to pay back tax ... More >>
Govt picks consortium for Chch convention centre
Thursday, 7 August 2014, 2:51 pm | BusinessDesk
Aug. 7 (BusinessDesk) - The government has chosen a consortium made up of Plenary Group, Ngai Tahu Property and Carter Group to build a convention centre able to seat up to 2,000 people in Christchurch. More >>
Labour to scrap consensus freshwater accord
Thursday, 7 August 2014, 2:27 pm | BusinessDesk
Aug. 7 (BusinessDesk) - A Labour-led government would scrap new freshwater management policies that emerged from a five year consensus-building exercise, saying the government has produced a "woefully inadequate" National Policy Statement on Freshwater ... More >>
NZF Group fails to get quorum at noteholders' meeting
Thursday, 7 August 2014, 2:15 pm | BusinessDesk
Aug. 7 (BusinessDesk) - NZF Group has delayed a special meeting of noteholders for a fortnight after failing to raise a quorum today. More >>
Shark harvest key to Sea Dragon's future, says Edison
Thursday, 7 August 2014, 1:48 pm | BusinessDesk
Aug. 7 (BusinessDesk) - The success of a newly signed contract with a Portuguese fishing vessel to catch sharks in the south-west Pacific Ocean is the most important risk to the plans by Nelson-based fish oils processor Sea Dragon, says Edison International ... More >>
NZ property values rise at slowest annual pace in 13 months
Thursday, 7 August 2014, 12:04 pm | BusinessDesk
Aug. 7 (BusinessDesk) - New Zealand property values rose at the slowest annual pace in 13 months in July as rising interest rates, restrictions on low-equity home loans and the onset of winter took the heat out of the housing market. More >>
FMA pushed back on exemptions for NZX's new market
Thursday, 7 August 2014, 11:47 am | BusinessDesk
FMA pushed back on continuous disclosure exemptions for NZX's new 'growth' market, papers show More >>
Chinese living in Aussie the target of new tourism funding
Thursday, 7 August 2014, 11:05 am | BusinessDesk
Aug. 7 (BusinessDesk) - Chinese people resident in Australia will be the target of a new $100,000 one-year campaign granted government assistance under the Tourism Growth Partnership scheme. More >>
Ravensdown to pay farmer rebate as profits surges
Thursday, 7 August 2014, 11:01 am | BusinessDesk
Aug. 7 (BusinessDesk) - Ravensdown Fertiliser Cooperative will resume paying farmers a rebate this year after its earnings jumped some 161 percent after it quit an unprofitable Australian business. More >>
Heartland says FY profit soars as 2013 charges wash through
Thursday, 7 August 2014, 10:34 am | BusinessDesk
Aug. 7 (BusinessDesk) - Heartland New Zealand, the bank formed from the merger of Canterbury and Southern Cross building societies and Marac Finance, said annual earnings soared 421 percent after one-off charges in the prior year washed through and as ... More >>
NZ dollar gains against pound, euro; growth concerns weigh
Thursday, 7 August 2014, 8:37 am | BusinessDesk
Aug. 7 (BusinessDesk) - The New Zealand dollar rose against the British pound and the euro ahead of central bank meetings today amid concerns about faltering economic growth in the region. More >>
While you were sleeping: Time Warner shares plunge
Thursday, 7 August 2014, 7:32 am | BusinessDesk
Aug 7 (BusinessDesk) – Wall Street was mixed as better-than-expected US trade data offset rising concern Russia might invade Ukraine on a "humanitarian" pretext. More >>
MARKET CLOSE: NZ stocks join global sell-off led by PEB
Wednesday, 6 August 2014, 5:47 pm | BusinessDesk
MARKET CLOSE: NZ stocks join global sell off; Pacific Edge, Xero drop; Fonterra Fund gains More >>
NZ dollar breaks below 84.50 US cents on dairy drop
Wednesday, 6 August 2014, 5:24 pm | BusinessDesk
Aug. 6 (BusinessDesk) - The New Zealand dollar broke below a key resistance level as the continued slide in dairy prices and data that painted a mixed picture of the labour market weighed on the kiwi in a market less willing to take on risk. More >>
Rex Bionics hires top UK trade official as new CEO
Wednesday, 6 August 2014, 3:35 pm | BusinessDesk
Aug. 6 (BusinessDesk) - Rex Bionics, the local company which listed on the London Stock Exchange’s growth-orientated AIM market in May, has hired the UK government's trade guru Crispin Simon as its new boss, and brought forward a shift into bigger ... More >>
NZ earnings season may fall short of 'rock-star' economy
Wednesday, 6 August 2014, 2:49 pm | BusinessDesk
Aug. 6 (BusinessDesk) - New Zealand's upcoming profit reporting season, which kicks off next week, is likely to contain a wide range of results, with the potential to disappoint investors who may have bet on the nation's "rockstar" economy ... More >>
Gentrack's Docking defends prospectus as FMA asks questions
Wednesday, 6 August 2014, 2:49 pm | BusinessDesk
Aug. 6 (BusinessDesk) - Gentrack Group chief executive James Docking says the company's prospectus was the result of thorough due diligence and expert advice, and the subsequent cut to guidance reflected the complex nature of its airport and utility software ... More >>
Gentrack 'deeply regrets' downgrade so soon after listing
Wednesday, 6 August 2014, 1:53 pm | BusinessDesk
Aug. 6 (BusinessDesk) - Gentrack Group, whose shares are trading 12 percent below their June initial public offering price, says it "deeply regrets" cutting its guidance so soon after going public, which resulted from a project delay and ... More >>
Livestock Improvement freed from legislative shackles
Wednesday, 6 August 2014, 1:45 pm | BusinessDesk
Aug. 6 (BusinessDesk) - Livestock Improvement Corp, which provides testing and artificial breeding services to the dairy industry, has been freed from legislative constraints on changing its constitution or demutualising following the transfer of its core ... More >>
