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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 992]
NZ dollar recovers after Fonterra cuts payout to farmers
Wednesday, 28 May 2014, 9:23 am | BusinessDesk
May 28 (BusinessDesk) - The New Zealand dollar gained back ground lost overnight after Fonterra Cooperative Group, the world's largest dairy exporter, reduced its payout to dairy farmers by less than some had expected. More >>
Fonterra cuts 2014 milk payout forecast to $8.40
Wednesday, 28 May 2014, 9:08 am | BusinessDesk
May. 28 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, cut its forecast 2014 milk payout by 2.9 percent and said it expects the payout for the 2015 season to tumble to $7 per kilogram of milk solids, reflecting ... More >>
Fonterra and Nestle overhaul Latin American joint venture
Wednesday, 28 May 2014, 8:26 am | BusinessDesk
May. 28 (BusinessDesk) - Fonterra Cooperative Group and Nestle are overhauling their Latin American 50/50 joint venture, with the New Zealand dairy exporter getting the liquids business and the Swiss group buying the milk processing plants. More >>
While you were sleeping: Wall Street hits record
Wednesday, 28 May 2014, 7:35 am | BusinessDesk
May 28 (BusinessDesk) – Wall Street rose, pushing the Standard & Poor’s 500 Index to a fresh record high, amid a slew of data showing that the US economy is gathering steam after an unusually cold winter. More >>
Kirk's finds buyers for Harbour City Centre
Tuesday, 27 May 2014, 5:31 pm | BusinessDesk
May. 27 (BusinessDesk) - Kirkcaldie & Stain's, Wellington's upmarket department store, has found buyers for the two buildings making up the Harbour City Centre, provided certain conditions are met for each property. More >>
MARKET CLOSE: NZ stocks fall as investors mull IPOs
Tuesday, 27 May 2014, 5:28 pm | BusinessDesk
May. 27 (BusinessDesk) - New Zealand shares fell as investors held back cash for upcoming listings. Infratil led the market lower as it shed rights to its full-year dividend. Air New Zealand, Trade Me Group and Telecom paced the decline. More >>
NZ dollar edges up ahead of Fonterra milk price forecast
Tuesday, 27 May 2014, 5:10 pm | BusinessDesk
May. 27 (BusinessDesk) - The New Zealand dollar edged up in local trading ahead of Fonterra Cooperative Group's milk price forecast tomorrow, which some economists expect to be cut after a steady decline in the price of dairy products sold on the ... More >>
Green Cross Health boosts FY profit 14%, eyes expansion
Tuesday, 27 May 2014, 4:07 pm | BusinessDesk
May. 27 (BusinessDesk) - Green Cross Health, which changed its name from Pharmacy Brands earlier this year as it expands into the primary health sector, boosted annual profit 14 percent as its new pharmacy and medical acquisitions came on stream. More >>
Goldman Sachs NZ lifts 2013 revenue by 63% in boom year
Tuesday, 27 May 2014, 12:11 pm | BusinessDesk
May. 27 (BusinessDesk) - Goldman Sachs New Zealand Holdings, the local unit of the Wall Street investment bank, posted a 63% percent jump in revenue in 2013, a boom year for market activity that saw it win a share of deals including the floats of ... More >>
Moa widens FY loss, gets letter of support from shareholders
Tuesday, 27 May 2014, 11:06 am | BusinessDesk
May. 27 (BusinessDesk) - Moa Group, the boutique beer maker which raised $16 million when it went public in 2012, posted a wider full-year loss and said major shareholders Pioneer Capital and the Business Bakery have committed to providing enough financial ... More >>
Tower 1H profit sinks 70% on year-earlier asset sales
Tuesday, 27 May 2014, 9:49 am | BusinessDesk
May. 27 (BusinessDesk) - Tower, which sold its health, life, and investment units to focus on general insurance, reported a 70 percent slide in first-half earnings, reflecting gains from asset sales a year earlier that weren't repeated. More >>
NZ dollar gains as UK, US holidays keep trading thin
Tuesday, 27 May 2014, 8:39 am | BusinessDesk
May. 27 (BusinessDesk) - The New Zealand dollar advanced in quiet holiday trading as some investors saw the currency's recent decline as an opportunity to buy the local currency. More >>
While you were sleeping: European stocks climb
Tuesday, 27 May 2014, 7:39 am | BusinessDesk
May 27 (BusinessDesk) – Equities in Europe advanced after European Central Bank President Mario Draghi cemented expectations euro-zone policy makers will take action at their next meeting in June to help bolster the region’s economy. More >>
Government watching Ruataniwha nitrogen limits issue closely
Monday, 26 May 2014, 7:10 pm | BusinessDesk
May. 26 (BusinessDesk) - Prime Minister John Key says the government is not ready to intervene to reduce nitrogen levels set for rivers affected by the Ruataniwha Water Storage Scheme, preferring to let the issue go to court first. More >>
MARKET CLOSE: NZ shares rise; F&P climbs post earnings
Monday, 26 May 2014, 5:34 pm | BusinessDesk
May. 26 (BusinessDesk) - New Zealand shares rose as Fisher & Paykel Healthcare extended its gains after posting a jump in earnings last Friday. Freightways, Trade Me Group and Nuplex Industries paced the advance. More >>
NZ dollar at bottom of range as ECB forum awaited
Monday, 26 May 2014, 5:11 pm | BusinessDesk
NZ dollar at bottom of range as ECB forum awaited; US, UK holidays thin volumes More >>
NZ low deposit home lending edges up in April
Monday, 26 May 2014, 3:47 pm | BusinessDesk
May. 26 (BusinessDesk) - The proportion of home lending with deposits of less than a fifth of a property's value edged up in April, a month after the Reserve Bank embarked on lifting interest rates. More >>
Debt-free Gentrack would look at acquisitions up to $20M
Monday, 26 May 2014, 2:56 pm | BusinessDesk
May. 26 (BusinessDesk) - Gentrack Group, the utility and airport software company going public next month, would look at acquisitions of up to $20 million to add compatible software or enter new markets after an initial public offering that will leave it ... More >>
Moa signs long-term brewing deal with McCashin's
Monday, 26 May 2014, 2:44 pm | BusinessDesk
May. 26 (BusinessDesk) - Moa Group, the boutique beer maker scheduled to report annual earnings tomorrow, has signed a long-term brewing contract with McCashin's Brewery in Nelson amid protracted negotiations to expand capacity at its own facility in ... More >>
Wynyard sees annual sales of $31 mln, eyes acquisitions
Monday, 26 May 2014, 2:12 pm | BusinessDesk
May. 26 (BusinessDesk) - Wynyard Group, whose shares have doubled since the security software company's listing last July, expects annual sales will be 15 percent higher than the prospectus forecast, and is looking at potential acquisitions to drive faster ... More >>
