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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.
BusinessDesk - Latest News [Page 973]
Government opens banking tender
Monday, 7 July 2014, 3:18 pm | BusinessDesk
July 7 (BusinessDesk) - The New Zealand government's banking services, which include managing about $450 billion of core agency transactions annually, are up for tender for the first time in more than two decades. More >>
Metroglass to sell $244.2M of shares in IPO, no new capital
Monday, 7 July 2014, 2:34 pm | BusinessDesk
July 7 (BusinessDesk) - Metro Performance Glass, which has more than half the New Zealand glass processing market, will raise $244.2 million in an initial public offer, almost all of which will go to its current owners who have spent $40 million since ... More >>
NZ Dollar Outlook: Kiwi may decline as greenback strengthens
Monday, 7 July 2014, 12:57 pm | BusinessDesk
July 7 (BusinessDesk) - The New Zealand dollar may decline after failing to make a break through 88 US cents in the past two weeks and in the absence of local data to push it higher as the US dollar strengthens. More >>
NZ property values heat up in 2Q on Auckland, Christchurch
Monday, 7 July 2014, 12:41 pm | BusinessDesk
July 7 (BusinessDesk) – New Zealand property values grew at a faster pace in the June quarter as the country’s two biggest cities continued to underpin the market. More >>
Germany’s Bauer paid $7M for APN’s magazines
Monday, 7 July 2014, 11:23 am | BusinessDesk
July 7 (BusinessDesk) – APN News & Media sold the New Zealand Woman’s Weekly, The Listener, Simply You, Simply You Living and Crème to Germany’s Bauer Media Group for $7 million. More >>
Holcim writes down NZ manufacturing assets ahead of closure
Monday, 7 July 2014, 10:26 am | BusinessDesk
July 7 (BusinessDesk) – Writedowns ahead of the closure of Holcim New Zealand’s Westport cement manufacturing plant in 2016 have blown a hole in the company’s accounts. More >>
Regulator seeks feedback on tweaks to Chorus regulation
Monday, 7 July 2014, 10:06 am | BusinessDesk
July 7 (BusinessDesk) - The Commerce Commission is seeking feedback on Chorus's plans to deliver broadband services outside the current terms of regulation, and expects to make a final decision in early September. More >>
World Week Ahead: US earnings, Fed minutes
Monday, 7 July 2014, 9:39 am | BusinessDesk
July 7 (BusinessDesk) - US Federal Reserve meeting minutes, Fed officials’ comments and the start of second-quarter earnings season will vie for the attention of investors in the coming days, as Wall Street looks to extend its record run. More >>
NZ dollar may fall as US data stokes demand for greenback
Monday, 7 July 2014, 8:40 am | BusinessDesk
July 7 (BusinessDesk) - The New Zealand dollar was little changed in quiet trading following Friday's Independence Day holiday in the US, although it may soften following stronger US economic data last week. More >>
MARKET CLOSE: NZ shares rise, NZX gains on IPOs
Friday, 4 July 2014, 6:01 pm | BusinessDesk
July 4 (BusinessDesk) - New Zealand shares rose as investors mulled the latest in a series of initial public offerings. NZX paced gains on the promise of a growing capital market. Xero, Mainfreight and Fletcher Building rose. More >>
NZ dollar fails to reach new record this week
Friday, 4 July 2014, 5:39 pm | BusinessDesk
NZ dollar fails to reach new record this week, resists test of 88 US cents More >>
Wgtn identity, Mike 'MOD' O'Donnell, to head new govt unit
Friday, 4 July 2014, 4:25 pm | BusinessDesk
July 4 (BusinessDesk) - Departing TradeMe chief operating officer and Wellington man about town, Mike 'Mod' O'Donnell is to head a start-up joint venture owned jointly by the Ministry of Foreign Affairs and Trade and the government's trade promotion ... More >>
UPDATE: Vista Group to raise $40M, freeze dividends
Friday, 4 July 2014, 4:22 pm | BusinessDesk
July 4 (BusinessDesk) - Vista Group International, the cinema software developer and film distribution company, will freeze dividend payments for at least two years and raise up to $40 million of new capital in a drive for international growth. More >>
Marsden Point makes margin gains with greater natural use
Friday, 4 July 2014, 3:15 pm | BusinessDesk
July 4 (BusinessDesk) - New Zealand's Marsden Point oil refinery is taking advantage of historically low wholesale prices for locally produced natural gas to improve its refining margins as electricity companies, in particular, continue to use far ... More >>
Vista Entertainment Solutions the latest tech firm to IPO
Friday, 4 July 2014, 2:02 pm | BusinessDesk
Jul. 4 (BusinessDesk) - Vista Entertainment Solutions, a cinema ticketing software developer and film distribution company, is looking to raise up to $100.3 million in its float next month, but won't pay any dividends until 2016 as it uses capital ... More >>
Metroglass bookbuild sets sale price at $1.70: sources
Friday, 4 July 2014, 12:53 pm | BusinessDesk
July 4 (BusinessDesk) - Metro Performance Glass, New Zealand's largest glass maker, will sell shares at $1.70 apiece in an initial public offering, near the bottom of the range, say institutional investors who had previously baulked at Hirepool's offer. More >>
Scales to sell shares at $1.60, bottom of range, in IPO
Friday, 4 July 2014, 12:28 pm | BusinessDesk
July 4 (BusinessDesk) - Scales Corp, the fruit and vegetable logistics group, will sell shares at the bottom of its indicative range in a $148.8 million initial public offer. More >>
Air NZ boss Luxon to sit on Virgin board
Friday, 4 July 2014, 11:57 am | BusinessDesk
July 4 (BusinessDesk) - Air New Zealand boss Christopher Luxon has been appointed to Virgin Australia's board alongside its fellow investors in the Australian airline from Etihad Airways and Singapore Airlines. More >>
Belgrave lawyer Hamilton jailed 4 years 9 months for fraud
Friday, 4 July 2014, 11:24 am | BusinessDesk
July 4 (BusinessDesk) - Belgrave Finance legal adviser Hugh Hamilton, a former mayor of Central Hawke's Bay, has been sentenced to four years and nine months in jail for his role in defrauding the failed lender. More >>
Summerset 2Q sales growth stalls as development in focus
Friday, 4 July 2014, 9:23 am | BusinessDesk
July 4 (BusinessDesk) - Second quarter growth stalled in the sale of occupation rights at retirement village operator Summerset Group as it focuses on developing villages for future growth. More >>
