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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 991]
FMA raps St Laurence directors over knuckles with warning
Thursday, 29 May 2014, 10:22 am | BusinessDesk
May 29 (BusinessDesk) - The Financial Markets Authority has issued a warning to the directors of failed lender St Laurence over potential breaches of the Securities Act, deciding against pursuing them in court as the breaches occurred during a four-month ... More >>
Microsoft NZ, HP NZ results highlight move to cloud services
Thursday, 29 May 2014, 9:26 am | BusinessDesk
May 29 (BusinessDesk) - Microsoft New Zealand, the local arm of the world’s biggest software maker, lifted sales and profit last year while Hewlett Packard's local unit extended its losses, highlighting increased demand for cloud-based services and weaker ... More >>
Postie Plus shares in trading halt pending announcement
Thursday, 29 May 2014, 9:05 am | BusinessDesk
May 29 (BusinessDesk) - Postie Plus, the worst performing stock on the New Zealand sharemarket the past year, had its shares placed on a trading halt pending a material announcement by the company. More >>
NZ dollar drops to lowest in more than two months
Thursday, 29 May 2014, 8:40 am | BusinessDesk
May 29 (BusinessDesk) - The New Zealand dollar fell below 85 US cents to its lowest in more than two months as sentiment waned following a drop in business confidence and a weaker forecast payout to dairy farmers from Fonterra Cooperative Group. More >>
NZ angels told to broaden portfolios: Lightning Lab
Thursday, 29 May 2014, 8:06 am | BusinessDesk
May. 28 (BusinessDesk) - New Zealand angel investors are backing too few start-ups and should broaden their portfolios if they want to improve their chance of a return, according to Angel Association chairman Marcel van den Assum. More >>
While you were sleeping: Creeping to record high
Thursday, 29 May 2014, 7:46 am | BusinessDesk
May 29 (BusinessDesk) – The Standard & Poor’s 500 Index crept to a fresh intraday record high as investors await the second estimate of US economic performance in the first quarter, scheduled to be released on Thursday. More >>
MARKET CLOSE: NZ shares rise; Mainfreight gains on earnings
Wednesday, 28 May 2014, 5:42 pm | BusinessDesk
May 28 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index to,the highest in almost two weeks, after Mainfreight posted a 36 percent jump in earnings and the local bourse joined a global rally sparked by upbeat US manufacturing data. More >>
NZ dollar weakens as business sentiment slides
Wednesday, 28 May 2014, 5:28 pm | BusinessDesk
May 28 (BusinessDesk) - The New Zealand dollar weakened after a survey showed business confidence fell for a third month, while Fonterra Cooperative Group confirmed expectations by cutting its milk payout forecasts for this season and the next. More >>
Sanford 1H profit slips on lower prices for tuna, mackerel
Wednesday, 28 May 2014, 4:01 pm | BusinessDesk
May 28 (BusinessDesk) - Sanford, the listed fishing company, reported a 17 percent drop in first-half profit, driven by lower prices for pelagic species such as skipjack tuna and blue mackerel. It held the first-half dividend unchanged at 9 cents a share. More >>
Auckland housing crisis is investor-driven, NZIER says
Wednesday, 28 May 2014, 2:32 pm | BusinessDesk
May. 28 (BusinessDesk) - There is no housing shortage in Auckland, where prices continue to rise strongly thanks to investor activity, says the chief economist for the New Zealand Institute of Economic Research, Shamubeel Eaqub. More >>
NZ business confidence drops on higher interest rates
Wednesday, 28 May 2014, 2:28 pm | BusinessDesk
May,28 (BusinessDesk) - New Zealand business confidence extended its slide from a record high to a third month, in the face of rising interest rates, declining dairy prices and a persistently high kiwi dollar. More >>
CORRECT: Pacific Edge widens annual loss, shares drop
Wednesday, 28 May 2014, 1:20 pm | BusinessDesk
May 28 (BusinessDesk) - Shares in Pacific Edge were the biggest decliner on the benchmark NZX 50 Index today, dropping 7.2 percent after the bladder cancer test developer said it widened its annual net loss by 44 percent. More >>
Kathmandu names CFO Todd to new chief operating officer role
Wednesday, 28 May 2014, 12:36 pm | BusinessDesk
May. 28 (BusinessDesk) - Kathmandu Holdings chief financial officer Mark Todd has been appointed to the new position of chief operating officer, widening his role at the outdoor apparel retailer to oversee the rollout of a new technology platform. More >>
Fonterra's lower 2015 milk forecast to be drag on NZ GDP
Wednesday, 28 May 2014, 11:48 am | BusinessDesk
Fonterra's lower 2015 milk forecast to be drag on NZ GDP, have less impact on earnings More >>
Energy Mad shares drop to four-month low on widening FY loss
Wednesday, 28 May 2014, 11:17 am | BusinessDesk
May 28 (BusinessDesk) - Shares in Energy Mad were the biggest decliner on the stock exchange today after the energy efficient light bulb marketer more than doubled its full year loss and signalled it may lose access to $7.7 million of tax losses. More >>
Restaurant Brands 1Q sales gain, led by Carl's Jr chain
Wednesday, 28 May 2014, 11:10 am | BusinessDesk
May 28 (BusinessDesk) - Restaurant Brands, which operates KFC, Pizza Hut and Starbucks Coffee, said first quarter sales grew 5.9 percent as burger sales from its latest addition to New Zealand's fast food scene, Carl's Jr, climbed 60 percent. More >>
UPDATE: Mainfreight shares surge near record
Wednesday, 28 May 2014, 11:06 am | BusinessDesk
May 28 (BusinessDesk) - Shares of Mainfreight surged back toward record levels after the transport and logistics group boosted annual profit 36 percent, helped by a settlement with the former owners of its Wim Bosman unit in Europe, and said it's focused on ... More >>
Pacific Edge widens annual loss as sales start trickling in
Wednesday, 28 May 2014, 9:58 am | BusinessDesk
May 28 (BusinessDesk) - Pacific Edge widened its annual net loss by 35 percent after the bladder cancer test developer turned its first revenue from its primary US market. More >>
Mainfreight FY profit climbs 36% on Bosman settlement
Wednesday, 28 May 2014, 9:28 am | BusinessDesk
May 28 (BusinessDesk) - Mainfreight, the transport and logistics group, boosted annual profit 36 percent, helped by the settlement with the former owners of Wim Bosman, and is focused on growing its global footprint on the way to becoming "a substantially ... More >>
Rob Fyfe named CEO of Icebreaker, replacing founder Moon
Wednesday, 28 May 2014, 9:27 am | BusinessDesk
May. 28 (BusinessDesk) - Former Air New Zealand boss Rob Fyfe has been named chief executive of merino wool clothing company Icebreaker, replacing Jeremy Moon, who will become executive chairman and creative director. More >>
