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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 96]
Genesis say E3p could stop year-round generation in 5 years
Thursday, 7 March 2019, 11:03 am | BusinessDesk
March 7 (BusinessDesk) - Genesis Energy says its 400 MW gas-fired E3p plant could cease year-round operations within five years as part of the company’s initiatives to reduce emissions from its generation activities. More >>
Gas certainty needed for emission-reduction - Fonterra
Thursday, 7 March 2019, 10:43 am | BusinessDesk
March 7 (BusinessDesk) - Dairy processor Fonterra says it needs greater confidence in the cost and availability of future gas supplies if it is going to reduce its coal burn on the North Island. More >>
RBNZ largely ignores 2017 PwC report on NZ banks' capital
Thursday, 7 March 2019, 10:42 am | BusinessDesk
March 7 (BusinessDesk) - A 2017 paper by accounting firm PricewaterhouseCoopers suggests New Zealand’s major banks already effectively hold more capital than the Reserve Bank wants them to hold in the future. More >>
MARKET CLOSE: NZ shares edge up as dairy auction buoys
Wednesday, 6 March 2019, 8:58 pm | BusinessDesk
March 6 (BusinessDesk) - New Zealand shares edged up, led by the Fonterra Shareholders' Fund as a stronger than expected dairy auction was seen as an optimistic sign for the sector, despite the fact that it would add pressure to earnings. More >>
NZ dollar falls after weak Australian December quarter GDP
Wednesday, 6 March 2019, 8:57 pm | BusinessDesk
March 6 (BusinessDesk) - The New Zealand dollar fell, dragged in the wake of the Australian dollar after fourth-quarter GDP across the Tasman came in weaker than expected. More >>
Milford succession plans continue
Wednesday, 6 March 2019, 8:56 pm | BusinessDesk
March 6 (BusinessDesk) - Milford Asset Management's succession plans are continuing as its high-profile investment head Brian Gaynor steps back from the day-to-day management of the fund manager and acting chief executive Mark Ryland has been appointed permanently. More >>
Govt open to advice on 100% renewable target - Shaw
Wednesday, 6 March 2019, 3:22 pm | BusinessDesk
March 6 (BusinessDesk) - The government may be willing to shift ground on its 2035 renewable electricity target if the Interim Climate Change Committee feels there are better targets to pursue, Climate Change Minister James Shaw says. More >>
Goodman Property portfolio revalued up $185M to record
Wednesday, 6 March 2019, 1:06 pm | BusinessDesk
March 6 (BusinessDesk) - Goodman Property Trust says strong demand for good quality industrial sites and generally favourable market conditions contributed to a $185 million revaluation gain on its portfolio. More >>
Dairy product prices rise, bolstered by whole milk powder
Wednesday, 6 March 2019, 11:22 am | BusinessDesk
March 6 (BusinessDesk) - Dairy product prices increased at the Global Dairy Trade auction, moving higher for the seventh straight time, led by a rally in whole milk powder. More >>
NZD continues to hover around 68 US cents
Wednesday, 6 March 2019, 11:13 am | BusinessDesk
March 6 (BusinessDesk) - The New Zealand dollar continues to hover around 68 US cents, capped by strong US data overnight that gave the greenback some support. More >>
House price growth continues to slow nationally
Wednesday, 6 March 2019, 10:30 am | BusinessDesk
March 6 (BusinessDesk) - Growth in house prices nationally continues to slow and prices in parts of the Auckland region are actually falling, although there are still some hot spots. More >>
RBNZ's bank capital policy will cost up to $2B a year
Wednesday, 6 March 2019, 10:01 am | BusinessDesk
March 6 (BusinessDesk) - The Reserve Bank’s proposals to double minimum bank equity levels will cost New Zealand’s economy $1.5-to-$2 billion a year without making banks much safer, according to former long-serving central bank official Ian Harrison. More >>
Cryptopia site reopens; no news on investor losses
Wednesday, 6 March 2019, 9:08 am | BusinessDesk
March 6 (BusinessDesk) - Christchurch-based cryptocurrency exchange Cryptopia has reopened, at least in a limited way. More >>
MARKET CLOSE: NZ shares fall from record
Tuesday, 5 March 2019, 9:21 pm | BusinessDesk
MARKET CLOSE: NZ shares fall from record as global markets come off the boil; Mercury drops More >>
Shareclarity bringing gaming geekery to market analysis
Tuesday, 5 March 2019, 9:20 pm | BusinessDesk
March 5 (BusinessDesk) - Shareclarity managing director Daniel Kieser gets up at 3.47am. Not 3.45am, 4am, or even a more sleep-enhancing 6am. More >>
NZ dollar edges down after RBA maintains its 3% GDP forecast
Tuesday, 5 March 2019, 9:18 pm | BusinessDesk
March 5 (BusinessDesk) - The New Zealand dollar is slightly weaker after trying to rally with its trans-Tasman counterpart after the Reserve Bank of Australia held its cash rate steady and maintained its 3 percent growth forecast for Australia’s ... More >>
Contact, Trustpower caution against subsidies, incentives
Tuesday, 5 March 2019, 6:05 pm | BusinessDesk
March 5 (BusinessDesk) - Politicians and regulators risk adding cost and complexity to the country’s emission reduction efforts if they start favouring technologies or fix on a particular view of the future, Contact Energy chief executive Dennis ... More >>
Mainzeal decision opens insurance payout can of worms
Tuesday, 5 March 2019, 4:20 pm | BusinessDesk
March 5 (BusinessDesk) - The Mainzeal court decision has opened a can of worms for Mainzeal directors and their insurers as they work out who gets up to $23 million of liability insurance payouts to cover $36 million of court-ordered payments. More >>
NZ commodity prices continue to lift in February
Tuesday, 5 March 2019, 4:19 pm | BusinessDesk
March 5 (BusinessDesk) - New Zealand commodity prices rose in February, continuing an upward shift that started in January, ANZ Bank’s monthly commodity price index shows. More >>
Miles Hurrell formally appointed Fonterra chief executive
Tuesday, 5 March 2019, 2:15 pm | BusinessDesk
March 5 (BusinessDesk) - Miles Hurrell has been permanently appointed as Fonterra Cooperative Group's chief executive, with immediate effect, earning a pay packet of $1.95 million plus incentives. More >>
