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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 978]
Lyttelton Port details plans to expand to the east
Thursday, 26 June 2014, 10:38 am | BusinessDesk
June 26 (BusinessDesk) - Lyttelton Port of Christchurch has disclosed a $1 billion development plan as rival Port of Tauranga signs one of the country’s biggest logistics groups up to its terminal in Timaru. More >>
Maersk, Port of Tauranga and Kotahi deal to bring big ships
Thursday, 26 June 2014, 9:33 am | BusinessDesk
June 26 (BusinessDesk) – Port of Tauranga has done a freight deal with the Fonterra Cooperative Group and Silver Fern Farms-led logistics company Kotahi and container shipping line Maersk that will facilitate the arrival of 6,500 TEU ships to New Zealand ... More >>
Ryman announces second $100M village in as many months
Thursday, 26 June 2014, 9:26 am | BusinessDesk
June 26 (BusinessDesk) - Ryman Healthcare, which posted a 43 percent jump in full-year profit in May, plans to build a $100 million retirement village in Pukekohe, the second development of that magnitude it has announced in as many months. More >>
NZ dollar gains after weaker US economic reports
Thursday, 26 June 2014, 8:44 am | BusinessDesk
June 26 (BusinessDesk) - The New Zealand dollar advanced after US economic reports raised concerns about the strength of the world's largest economy, damping demand for the greenback. More >>
While you were sleeping: Bets made on US expansion
Thursday, 26 June 2014, 7:43 am | BusinessDesk
June 26 (BusinessDesk) – Wall Street advanced as investors opted to focus on signs that the US economy has picked up, increasing their bets on the outlook, even as the final reading on first-quarter GDP showed a worse-than-expected contraction. More >>
MARKET CLOSE: NZ shares fall on Iraq worries; Gentrack gains
Wednesday, 25 June 2014, 6:10 pm | BusinessDesk
June 25 (BusinessDesk) - New Zealand shares followed a global sell-off as investors were spooked by rising tensions in the Middle East. Diligent Board Member Services, Air New Zealand and Trade Me Group paced the decline. Gentrack Group rose on its ... More >>
Appeal Court rejects David Ross's bid for quick parole
Wednesday, 25 June 2014, 5:43 pm | BusinessDesk
June 25 (BusinessDesk) - David Ross, who swindled some 1,200 investors out of about $155 million, lost a Court of Appeal bid for a reduction in how much time he spends in prison before eligible for parole, a decision welcome by market regulators. More >>
Skellerup pays 'net' $1.58M to settle suit over pipe seals
Wednesday, 25 June 2014, 5:35 pm | BusinessDesk
June 25 (BusinessDesk) - Skellerup Holdings said it has settled an historic claim with Marley New Zealand over faulty seals supplied for irrigation systems, with a net after-tax impact on the rubber goods and farm equipment of $1.58 million. More >>
Hallenstein says February-June sales up 2%, inventory ok
Wednesday, 25 June 2014, 5:33 pm | BusinessDesk
June 25 (BusinessDesk) - Hallenstein Glasson Holdings, the listed clothing chain, said it managed to underpin seasonal sales, with growth of 2 percent in the almost-five months ended June 22, despite a warmer-than-expected winter, which would tend to ... More >>
NZ dollar weaker amid heightened Middle East tensions
Wednesday, 25 June 2014, 5:30 pm | BusinessDesk
June 25 (BusinessDesk) - The New Zealand dollar held at overnight lows in local trading after geopolitical tensions in the Middle East sapped demand for risk-sensitive assets, and ahead of US economic data. More >>
Rio Tinto says Bluff smelter hurt by high kiwi, lower prices
Wednesday, 25 June 2014, 4:45 pm | BusinessDesk
June 25 (BusinessDesk) - Rio Tinto Alcan (New Zealand), which holds Rio Tinto's stake in the Bluff aluminium smelter, is mulling its response after losing an appeal against an Employment Court ruling over a claim of $13.4 million. More >>
Wgtn commuter bus services halted for stop-work meeting
Wednesday, 25 June 2014, 2:39 pm | BusinessDesk
June 25 (BusinessDesk) - Wellington commuter bus services were stopped for much of today as drivers met for a stop-work meeting ahead of plans to phase out trolley buses. More >>
Warehouse warning raises concerns about strategy, purchases
Wednesday, 25 June 2014, 2:09 pm | BusinessDesk
June 25 (BusinessDesk) - Warehouse Group's profit warning last week, which erased $94 million from the retailer's market capitalisation, has raised concerns about the outlook for both its core business and the success of its acquisition strategy. More >>
O’Reilly seeks more time to repay debts: media reports
Wednesday, 25 June 2014, 1:48 pm | BusinessDesk
O’Reilly seeks more time after Irish bank acts to recoup loans, Irish Times reports More >>
Gentrack shares debut at $2.58 on NZX after IPO to pay debt
Wednesday, 25 June 2014, 12:11 pm | BusinessDesk
Gentrack shares debut at $2.58 on NZX after IPO to pay debt, allow selldown More >>
Invercargill-based SBS Bank talks up presence in Auckland
Wednesday, 25 June 2014, 11:29 am | BusinessDesk
June 25 (BusinessDesk) – SBS Bank, the former Southland Building Society, has reported a 15 percent rise in bottom line profit it attributes in part to servicing Auckland mortgage clients from Invercargill. More >>
Contact extends Fonterra electricity supply at Te Rapa
Wednesday, 25 June 2014, 11:16 am | BusinessDesk
June 25 (BusinessDesk) - Contact Energy, the NZX-listed energy retailer and generator, has secured a six-year contract with Genesis Energy to buy its gas while extending its steam and electricity supply contract with Fonterra Cooperative Group at its ... More >>
Foley Family Wines plans to move to NZX main board
Wednesday, 25 June 2014, 10:48 am | BusinessDesk
June 25 (BusinessDesk) - Foley Family Wines, which is majority owned by American businessman and vineyard owner Bill Foley, plans to step up to the main board of the New Zealand stock exchange following its takeover of Martinborough Vineyards ... More >>
Holcim progresses cement import plan, signals lime exit
Wednesday, 25 June 2014, 10:30 am | BusinessDesk
June 25 – (BusinessDesk) – Holcim New Zealand is moving ahead with plans to exit manufacturing in New Zealand and chief executive Jeremy Smith is losing his job as the business will be run from Australia in future. More >>
Telecom reveals TV plans, lures with Vikings
Wednesday, 25 June 2014, 9:31 am | BusinessDesk
June 25 (BusinessDesk) - Telecom Corp, New Zealand's largest telecommunications provider, has detailed its new internet television plans, Lightbox, including luring customers with popular American primetime shows, as part of its business change as it chases ... More >>
