Scoop has an Ethical Paywall
BusinessDesk
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 960]
While you were sleeping: Berkshire lifts Wall Street
Tuesday, 5 August 2014, 7:35 am | BusinessDesk
Aug 4 (BusinessDesk) – Wall Street gained amid solid US corporate earnings including from Warren Buffett's Berkshire Hathaway and as a Portuguese bank bailout diminished concern about another flare-up for the euro-zone's credit crisis. More >>
Mega sheds Dotcom in favour of Kiwi connections
Monday, 4 August 2014, 7:20 pm | BusinessDesk
Aug. 4 (BusinessDesk) - The new controlling shareholders of what was once internet renegade Kim Dotcom's Mega cloud storage business Mega Ltd have appointed a little-known but well-connected Waikato software entrepreneur, Graham Gaylard, to be the company's ... More >>
Rangatira names Veal as CEO; likely to up Magritek stake
Monday, 4 August 2014, 6:11 pm | BusinessDesk
Aug. 4 (BusinessDesk) - Rangatira, the Wellington-based investment group, named Phil Veal as chief executive and told shareholders magnetic resonance imaging firm Magritek is probably performing well enough to trigger a further investment. More >>
MARKET CLOSE: NZ stocks drop to 3 1/2-month low
Monday, 4 August 2014, 6:03 pm | BusinessDesk
Aug. 4 (BusinessDesk) - New Zealand stocks extended Friday's decline as global uncertainty weighed on the market, and investors wait for the local earnings season to kick off to justify high valuations. Summerset Group Holdings led the benchmark index lower, ... More >>
NZ dollar poised for mid-week dairy and jobs data
Monday, 4 August 2014, 5:54 pm | BusinessDesk
Aug. 4 (BusinessDesk) - The New Zealand dollar was little changed as a weaker-than-expected US employment report on Friday sapped demand for the greenback, and left investors waiting for their cue from this week's dairy auction and local jobs data, both due ... More >>
Allied Farmers to repay Crown Asset Management $2M
Monday, 4 August 2014, 2:43 pm | BusinessDesk
Aug. 4 (BusinessDesk) - Allied Farmers, which is rebuilding from a disastrous takeover of the Hanover and United Finance loan books, plans to repay $2 million to Crown Asset Management Ltd by selling down its stake in a subsidiary company and issuing ... More >>
NZ commodity prices fall for 5th month, led by milk powder
Monday, 4 August 2014, 1:29 pm | BusinessDesk
Aug. 4 (BusinessDesk) - New Zealand commodity prices fell for a fifth straight month in July, led by whole milk powder, reflecting a build-up of inventory in China and a strong milk production season for dairy farmers. More >>
Gentrack won't comment on profit warning soon after listing
Monday, 4 August 2014, 1:06 pm | BusinessDesk
Aug. 4 (BusinessDesk) - Gentrack Group, which touted its "proven revenue and earnings record" in its $99 million share sale in June, is refusing to answer questions after a shock profit downgrade hammered its shares on Friday. More >>
Transpower names Alex Ball as CFO, replacing Cattermole
Monday, 4 August 2014, 12:52 pm | BusinessDesk
Aug. 4 (BusinessDesk) - Transpower, the state-owned national electricity grid operator, named Alex Ball chief financial officer, replacing Howard Cattermole who announced his resignation in May. More >>
NZ Dollar Outlook: Kiwi hovers above key support level
Monday, 4 August 2014, 12:15 pm | BusinessDesk
NZ Dollar Outlook: Kiwi hovers above key support level as dairy auction, jobs data awaited More >>
Stevenson ran 'exhaustive' tender for Lochinver
Monday, 4 August 2014, 11:48 am | BusinessDesk
Aug. 4 (BusinessDesk) - Stevenson Group, the concrete, quarrying and engineering firm that owns Lochinver Station, ran an extensive tender before agreeing to sell the 13,843 hectare farm to Shanghai Pengxin and says it will reinvest the funds in ... More >>
NZ dollar gains as weaker US jobs damp Fed hike prospects
Monday, 4 August 2014, 8:35 am | BusinessDesk
Aug. 4 (BusinessDesk) - The New Zealand dollar rose on US dollar weakness after a key government measure of the US labour market fell short of expectations, reinforcing the view that the Federal Reserve won't pull forward the timing of an interest rate ... More >>
World Week Ahead: Optimism intact
Monday, 4 August 2014, 8:28 am | BusinessDesk
Aug. 4 (BusinessDesk) - Even as concern about debt crises in Argentina and Portugal helped spark a two-day selloff in equity markets worldwide, investors remain optimistic that the US economy will keep expanding and corporate profits will keep rising at ... More >>
NZ dollar heads for 0.8% weekly decline
Friday, 1 August 2014, 5:53 pm | BusinessDesk
NZ dollar heads for 0.8% weekly decline as Fonterra cuts payout, US GDP beats expectations More >>
MARKET CLOSE: NZ shares join global sell off
Friday, 1 August 2014, 5:46 pm | BusinessDesk
Aug. 1 (BusinessDesk) - New Zealand shares fell, led by Xero, A2 Milk Co and Pacific Edge, joining a global sell off as geopolitical risk spooked investors. More >>
TRS extends Mega takeover timetable, confirms US$7M raised
Friday, 1 August 2014, 5:13 pm | BusinessDesk
Aug. 1 (BusinessDesk) - TRS Investments, the vehicle being used to list data storage and encryption company Mega, has announced a two-month extension to Oct. 31 to gain shareholder approval for the transaction. More >>
Taranaki iwi Ngaruahine settles Treaty claims for $67.5mln
Friday, 1 August 2014, 5:11 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Taranaki iwi Ngaruahine has reached a $67.5 million settlement with the Crown for its Treaty of Waitangi claims. More >>
Oji Holdings cleared to acquire CHH Pulp & Paper
Friday, 1 August 2014, 5:04 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Japan's Oji Holdings Corp has been granted antitrust approval to acquire Carter Holt Harvey’s pulp, paper and packaging businesses from billionaire Graeme Hart. More >>
Christchurch City to mop up remaining shares in Lyttelton
Friday, 1 August 2014, 4:10 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Christchurch City Holdings, the city's infrastructure investment arm, says it will offer to buy the 20 percent of Lyttelton Port Co it doesn't already own and has a lock-up agreement for Port Otago's 15.5 percent holding. The shares ... More >>
Shanghai Pengxin agrees to buy Lochinver Station
Friday, 1 August 2014, 3:29 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Shanghai Pengxin Group is adding to its portfolio of New Zealand dairy assets with agreement to acquire the 13,800 hectare Lochinver Station near Taupo reportedly worth $70 million. More >>
