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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 985]
Wesfarmers' A$1 bln insurance sale gets clearances
Thursday, 12 June 2014, 1:06 pm | BusinessDesk
June 12 (BusinessDesk) - Wesfarmers has been given the green light by regulators to sell its broking and premium funding units for A$1 billion to Arthur J. Gallagher & Co, the New York stock exchange-listed insurer, completing the Australian company’s ... More >>
Goodman Fielder plans $27M upgrade of Chch milk plant
Thursday, 12 June 2014, 11:33 am | BusinessDesk
June 12 (BusinessDesk) - Goodman Fielder, the Australian food ingredients maker, will spend $27 million to expand its Christchurch ultra heat treated milk plant, giving it additional capacity to meet increased demand for its Meadow Fresh brand ... More >>
Crown agrees $100 mln package for Hawke's Bay, Gisborne iwi
Thursday, 12 June 2014, 10:47 am | BusinessDesk
June 12 (BusinessDesk) - The government's programme of completing Treaty of Waitangi claims continues, with the announcement of a settlement package valued at $100 million for the iwi and hapu of Te Wairoa, covering seven clustered groups in northern Hawke's ... More >>
NZ dollar jumps after Reserve Bank keeps rate hikes on track
Thursday, 12 June 2014, 10:45 am | BusinessDesk
June 12 (BusinessDesk) - The New Zealand dollar jumped three quarters of a US cent after the Reserve Bank raised its benchmark interest rate today and signalled rates would continue to rise broadly as it outlined in March, surprising some traders who ... More >>
NZ central bank raises OCR a third time to 3.25%; kiwi jumps
Thursday, 12 June 2014, 9:18 am | BusinessDesk
NZ central bank raises OCR a third time to 3.25%, keeps track broadly intact; kiwi jumps More >>
MARKET CLOSE: NZ shares fall as Tower sheds dividend
Wednesday, 11 June 2014, 6:14 pm | BusinessDesk
June 11 (BusinessDesk) – New Zealand shares fell ahead of the Reserve Bank’s interest rate review. Tower shed its interim dividend and Nuplex Industries extended its slide. Fisher & Paykel Healthcare gained after reiterating its guidance for ... More >>
NZ dollar extends gains ahead of MPS
Wednesday, 11 June 2014, 5:43 pm | BusinessDesk
June 11 (BusinessDesk) - New Zealand dollar extended its gains across all major currencies ahead of the Reserve Bank hiking rates for a third time this year, as traders speculate the central bank could be less dovish than the market is pricing. More >>
Regulator faces slippery questions in X-rated inquiry
Wednesday, 11 June 2014, 4:37 pm | BusinessDesk
June 11 (BusinessDesk) - Consenting adults they may be at the Commerce Commission, since they give consent to merger and acquisition proposals as long as they don't harm competition. More >>
Foley Family Wines buys Lighthouse Gin brand
Wednesday, 11 June 2014, 3:42 pm | BusinessDesk
June 11 (BusinessDesk) - Foley Family Wines, majority owned by American businessman and vineyard owner Bill Foley, has bought the Lighthouse Gin brand for an undisclosed amount. More >>
Pass mark for 90-day trials in new MBIE survey
Wednesday, 11 June 2014, 3:14 pm | BusinessDesk
June 11 (BusinessDesk) - Trial periods for workers of up to 90 days has met with widespread acceptance by employers, with 59 percent saying they've taken on staff on that basis in the past year, a new Ministry of Business, Innovation and Employment ... More >>
NZ retail spending on electronic cards rises in May
Wednesday, 11 June 2014, 12:33 pm | BusinessDesk
NZ retail spending on electronic cards rises at fastest pace in seven months in May More >>
High Court clears Abano special meeting for Friday
Wednesday, 11 June 2014, 12:19 pm | BusinessDesk
June 11 (BusinessDesk) - The High Court in Auckland has rejected the bid by Abano Healthcare's dissident shareholders to delay the special meeting they called, where they're seeking to dump the medical investor's chairman, Trevor Janes. More >>
Goodyear NZ narrows annual loss
Wednesday, 11 June 2014, 11:37 am | BusinessDesk
June 11 (BusinessDesk) - Goodyear & Dunlop Tyres (NZ), the New Zealand unit of the biggest US tyre maker, narrowed its full-year loss after exiting commercial tyre and retread operations, firing workers and selling its Beaurepaires retail stores. ... More >>
GeoOp widens annual loss, foregoes dividends, chases growth
Wednesday, 11 June 2014, 11:21 am | BusinessDesk
June 11 (BusinessDesk) - GeoOp, whose software allows mobile businesses such as builders to manage their workforce, widened its annual loss as it pressed on with investing for growth. More >>
IkeGPS Group plans $31M IPO
Wednesday, 11 June 2014, 9:48 am | BusinessDesk
June 11 (BusinessDesk) - IkeGPS Group, which sells a range of portable measuring devices and counts Jenny Morel's No 8 Ventures among its shareholders, plans to raise up to $31 million in an initial public offering, listing on the NZX's main board ... More >>
NZ dollar jumps to 3-week high against euro before MPS
Wednesday, 11 June 2014, 8:39 am | BusinessDesk
NZ dollar jumps to 3-week high against euro ahead of expected RBNZ rate hike More >>
While you were sleeping: US equities slip from records
Wednesday, 11 June 2014, 7:48 am | BusinessDesk
June 10 (BusinessDesk) – Wall Street eased from record highs, even as more indicators point to a broadening of the economic recovery, as investors assessed whether equity valuations were rising at a reasonable rate. More >>
MARKET CLOSE: NZ shares fall on Nuplex profit warning
Tuesday, 10 June 2014, 5:34 pm | BusinessDesk
June 10 (BusinessDesk) - New Zealand shares fell. Nuplex Industries dropped to a nine-month low after cutting its full-year earnings guidance. New Zealand Oil & Gas declined after it said costs for its offshore explorations in the Taranaki Basin ... More >>
NZ dollar trades off lows on buying ahead of MPS
Tuesday, 10 June 2014, 5:16 pm | BusinessDesk
Jun. 10 (BusinessDesk) - The New Zealand dollar recovered from intraday lows amid buying ahead of the monetary policy statement on Thursday, as traders speculate the central bank could be less dovish than the market is pricing. More >>
Oi well to start again after drilling difficulties
Tuesday, 10 June 2014, 12:40 pm | BusinessDesk
June 10 (BusinessDesk) - The cost of the US$27 million exploratory Oi well offshore Taranaki has risen to US$40 million, largely as a result of the drilling partners being forced to plug and abandon the first well, which encountered technical difficulties ... More >>
