BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team led by former Bloomberg Asian top editor Jonathan Underhill and Qantas Award-winning journalist and commentator Pattrick Smellie provides a daily news feed for a serious business audience.
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BusinessDesk - Latest News [Page 1]
Scott Technologies in a 'sweet spot' says CEO Hopkins
Thursday, 6 April 2017, 3:58 pm | BusinessDesk
April 6 (BusinessDesk) - Scott Technologies posted a 48 percent jump in first-half profit and chief executive Chris Hopkins says a global drive for increased automation means the industrial robotics firm is in a "sweet spot". More >>
Bathurst Resources finds replacement for Westport contract
Thursday, 6 April 2017, 3:53 pm | BusinessDesk
April 6 (BusinessDesk) - Bathurst Resources has found a new buyer for coal from its Canterbury mine, replacing the lost supply deal for Westport's cement works when Holcim closed the plant last year. More >>
Shell sells Kapuni field to Todd
Thursday, 6 April 2017, 2:31 pm | BusinessDesk
April 6 (BusinessDesk) - Shell New Zealand has taken the first concrete steps in its effort to divest its New Zealand upstream assets, selling the 60-year-old Kapuni onshore oil and gas field to its joint venture partner in the field, locally owned ... More >>
Peter Thiel interests sell 1.12M Xero shares
Thursday, 6 April 2017, 2:06 pm | BusinessDesk
April 6 (BusinessDesk) - Interests associated with tech billionaire Peter Thiel have sold about 1.1 million shares in Xero, reducing its overall holding to below 5 percent. More >>
NZ company profits continue to bolster tax take
Thursday, 6 April 2017, 1:57 pm | BusinessDesk
April 6 (BusinessDesk) - New Zealand firms' stronger profits in 2016 continued to swell the government's coffers in February, helping boost the government's operating surplus beyond forecasts for the first eight months of the financial year. More >>
Z drops plan for virtual annual meetings
Thursday, 6 April 2017, 12:39 pm | BusinessDesk
April 6 (BusinessDesk) - Z Energy has reversed its decision to dump physical annual meetings in favour of cheaper virtual ones and will instead hold a hybrid of the two after lobbying from the New Zealand Shareholders' Association. More >>
Intueri hires Grant Thornton to liquidate Australian assets
Thursday, 6 April 2017, 11:59 am | BusinessDesk
April 6 (BusinessDesk) - Intueri Education Group has hired Grant Thornton to liquidate its Australian assets after it was forced to close its colleges across the Tasman sooner than it had expected. More >>
NZ dollar little changed after sinking to 3-week low
Thursday, 6 April 2017, 11:23 am | BusinessDesk
April 6 (BusinessDesk) - The New Zealand dollar was little changed, having fallen to a new three-week low overnight, only to bounce back when minutes of the last Federal Reserve policy meeting showed the bank wants to reduce its balance sheet, which may ... More >>
While you were sleeping: US jobs exceed estimates
Thursday, 6 April 2017, 9:33 am | BusinessDesk
April 6 (BusinessDesk) - Wall Street climbed, pushing the Nasdaq to a record high, as better-than-expected US jobs data bolstered optimism about the outlook for the US economy and corporate profits. More >>
Feltex shareholder cites Court of Appeal finding
Thursday, 6 April 2017, 8:42 am | BusinessDesk
April 5 (BusinessDesk) - Former Feltex Carpets shareholder Eric Houghton's lawyer has argued in the Supreme Court that the failed company's 2004 prospectus wasn't valid because it contained untrue statements about its sales prospects. More >>
Allied Farmers emerges as beneficiary of litigation
Thursday, 6 April 2017, 8:41 am | BusinessDesk
April 5 (BusinessDesk) - Allied Farmers says it could be in the money if litigation against former bankrupt Dave Henderson's Property Ventures group is successful. More >>
NZ dollar falls to three-week low
Thursday, 6 April 2017, 8:40 am | BusinessDesk
April 5 (BusinessDesk) - The New Zealand dollar fell, touching a three-week low, with traders reluctant to push the currency higher ahead of US President Donald Trump's summit with his Chinese counterpart Xi JinPing and US non-farm payrolls data on Friday. More >>
Yield hunt sees biggest Spark volume in five years
Thursday, 6 April 2017, 8:39 am | BusinessDesk
April 5 (BusinessDesk) - New Zealand shares rose as international investors' hunt for high-yield stocks saw the biggest volume of Spark New Zealand stock change hands in almost five years. Meanwhile, Comvita plunged after the honey products maker warned ... More >>
Commodity prices edge up in March on higher meat/wool prices
Wednesday, 5 April 2017, 4:25 pm | BusinessDesk
April 5 (BusinessDesk) - New Zealand commodity prices edged higher in March as wool prices bounced from a slump and red meat continued to attract buyers. More >>
UPDATE: 'Glamour stock' Comvita slumps on profit downgrade
Wednesday, 5 April 2017, 3:56 pm | BusinessDesk
April 5 (BusinessDesk) - Comvita shares, which have benefited the past two years from huge demand for manuka honey, slumped today after the company warned it would post an operational loss due to weaker than expected trading and as a poor season ... More >>
IkeGPS misses positive cash flow target in March quarter
Wednesday, 5 April 2017, 2:18 pm | BusinessDesk
April 5 (BusinessDesk) - IkeGPS missed a goal of positive cash flow in the March quarter after Stanley Black & Decker pushed out a large order of the laser measurement toolmaker's Stanley Smart Measure Pro products. More >>
Comvita shares slump
Wednesday, 5 April 2017, 2:16 pm | BusinessDesk
April 5 (BusinessDesk) - Comvita shares slumped after the manuka honey company warned it will post an operational loss this year due to weaker than expected trading and as a poor season dents the honey harvest in New Zealand. More >>
Zespri reports interest in bidding round for Gold3 licenses
Wednesday, 5 April 2017, 2:15 pm | BusinessDesk
April 5 (BusinessDesk) - Zespri International reported strong interest in a bidding round for 400 hectares of new Gold3 or SunGold variety kiwifruit licences and said its shares will resume trading on Friday. More >>
Auckland's average house price reaches record in March
Wednesday, 5 April 2017, 2:07 pm | BusinessDesk
April 5 (BusinessDesk) - Auckland house prices charted a record high again in March, with those selling for more than $1 million accounting for 41 percent of sales in the month, says realtor Barfoot & Thompson. More >>
Vital Healthcare extends buying spree
Wednesday, 5 April 2017, 1:45 pm | BusinessDesk
April 5 (BusinessDesk) - Vital Healthcare Property Trust has acquired an aged-care facility and a hospital in Australia for A$27.6 million, extending the buying spree it embarked on since raising $160 million in a rights offer last July. More >>
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