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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 982]
While you were sleeping: US equities, bonds rise on Fed
Thursday, 19 June 2014, 7:35 am | BusinessDesk
June 19 (BusinessDesk) – Both US equities and Treasuries rose after the Federal Reserve said the American economy remained on an upward path, yet downgraded its 2014 growth forecast and indicated interest rates will remain low for longer. More >>
MARKET CLOSE: NZ stocks drop on global uncertainty
Wednesday, 18 June 2014, 5:37 pm | BusinessDesk
Jun. 18 (BusinessDesk) - New Zealand stocks fell, led by Telecom Corp after Sky Network Television announced plans to challenge the phone company in the pay-per-view television market. Rising tensions in Iraq and the outcome of the US Federal Reserves two day ... More >>
NZ dollar little changed ahead of GDP data
Wednesday, 18 June 2014, 5:15 pm | BusinessDesk
June 18 (BusinessDesk) - The New Zealand dollar was little changed ahead of data due tomorrow which is expected to show accelerating growth in the domestic economy, which may cause the dollar to climb above 87 cents. More >>
Bathurst announces slow start to Escarpment mine
Wednesday, 18 June 2014, 4:50 pm | BusinessDesk
June 18 (BusinessDesk) - Bathurst Resources is to begin site works and extracting coal from a much reduced area of its consented Escarpment mine on the Denniston Plateau, above the South Island west coast town of Westport following the extension of its ... More >>
Fonterra taps Kelvin Wickham for new global ingredients role
Wednesday, 18 June 2014, 3:37 pm | BusinessDesk
June 18 (BusinessDesk) - Fonterra Cooperative Group has tapped the president of its China operations, Kelvin Wickham, to head up the newly created global ingredients while Johan Priem will take over his previous role. More >>
Sky TV 'would be pleased' with 10% customer uplift from VOD
Wednesday, 18 June 2014, 2:22 pm | BusinessDesk
Sky TV 'would be pleased' with 10% customer uplift from video on demand service: Fellet More >>
Seabed mining bid was 'premature', says EPA committee
Wednesday, 18 June 2014, 1:55 pm | BusinessDesk
June 18 (BusinessDesk) - The bid by TransTasman Resource to mine the seabed in the south Taranaki Bight was "premature" and should have spent longer on understanding the impacts of its proposals on both the environment and existing users, the decision-making ... More >>
Rejection for ocean floor ironsands mining bid
Wednesday, 18 June 2014, 12:17 pm | BusinessDesk
June 18 (BusinessDesk) - Investment in resource extraction from New Zealand's vast Exclusive Economic Zone has taken a major knock today, with a decision-making committee of the Environmental Protection Authority rejecting an application from TransTasman ... More >>
NZ posts record current account surplus in first quarter
Wednesday, 18 June 2014, 10:55 am | BusinessDesk
June 18 (BusinessDesk) - New Zealand recorded a record current account surplus in the first quarter, as exports such as meat and dairy drove the goods balance to an all-time high and the country enjoyed spending by an inflow of overseas visitors. More >>
Skellerup plans $30M plant, replacing quake-damaged facility
Wednesday, 18 June 2014, 9:28 am | BusinessDesk
June 18 (BusinessDesk) - Skellerup Holdings, the rubber goods and dairy equipment manufacturer, is to build a $30 million factory at the Wigram Business Park in Christchurch developed by Ngai Tahu Property, to replace its earthquake-damaged facility in the ... More >>
Telecom pays $17M for Appserv to widen cloud offering
Wednesday, 18 June 2014, 9:26 am | BusinessDesk
Jun. 18 (BusinessDesk) - Telecom Corp., New Zealand's largest telecommunications company, agreed to pay $17 million for cloud services specialist Appserv, widening the services it can offer to businesses after purchasing Revera last year. More >>
NZ dollar slips as US inflation fuels speculation on rates
Wednesday, 18 June 2014, 8:55 am | BusinessDesk
June 18 (BusinessDesk) - The New Zealand dollar slipped after a report showing US inflation accelerated more than expected prompted investors to mull the outlook for tighter monetary policy in the world's biggest economy. More >>
While you were sleeping: US housing weakness
Wednesday, 18 June 2014, 7:41 am | BusinessDesk
June 18 (BusinessDesk) – Wall Street rose as investors eyed a two-day Federal Reserve meeting that finishes on Wednesday amid reports showing declines in both US housing starts and building permits, while consumer prices climbed the most in more than ... More >>
Dairy prices climb for the first time since February
Wednesday, 18 June 2014, 6:50 am | BusinessDesk
June 18 (BusinessDesk) - Dairy product prices rose for the first time since February in the latest GlobalDairyTrade auction, paced by butter milk powder, as buyers found value after the recent slide in prices. More >>
CORRECT: NZ Refining hydrocracker upgrade gains lag estimate
Tuesday, 17 June 2014, 6:26 pm | BusinessDesk
June 17 (BusinessDesk) - New Zealand Refining, the Marsden Point oil refinery controlled by its major customers, says upgrades to its hydrocracker have boosted efficiency even as it misses its original forecast margin. More >>
MARKET CLOSE: NZ shares rise on political polls
Tuesday, 17 June 2014, 5:46 pm | BusinessDesk
June 17 (BusinessDesk) - New Zealand shares rose, paced by Heartland New Zealand which advanced to a four-month high on news its asset selling programme was better than forecast. Meridian Energy, Contact Energy and MightyRiverPower climbed as political ... More >>
NZ dollar gains vs. AUD as RBA minutes wary on growth
Tuesday, 17 June 2014, 5:10 pm | BusinessDesk
June 17 (BusinessDesk) - The New Zealand dollar climbed against its trans-Tasman counterpart after the Reserve Bank of Australia minutes for its June 3 meeting showed an expectation of slower growth as the country's mining boom winds down. More >>
NZ Refining hydrocracker upgrade gains lag estimate
Tuesday, 17 June 2014, 3:26 pm | BusinessDesk
June 17 (BusinessDesk) - New Zealand Refining, the Marsden Point oil refinery controlled by its major customers, says upgrades to its hydrocracker have boosted efficiency even as it misses its original forecast margin. More >>
Trade Me's 'MOD' to resign after a decade
Tuesday, 17 June 2014, 12:59 pm | BusinessDesk
June 17 (BusinessDesk) - Trade Me Group’s chief operating officer Mike O’Donnell, better known as MOD, has announced his resignation from the online auction site. More >>
Facebook's NZ unit lifts 2013 sales 7.4%, posts wider loss
Tuesday, 17 June 2014, 12:23 pm | BusinessDesk
June 17 (BusinessDesk) - Facebook New Zealand, the local service unit of the global social media website, said sales rose 7.4 percent last year, lagging behind an 11 percent gain in expenses and resulting in a wider annual loss. More >>
