While you were sleeping: Stocks slide on car sales

Article – BusinessDesk

March 4 (BusinessDesk) – Wall Street moved lower from record highs after disappointing car sales lowered the appeal of equities for now, as investors await a speech from Federal Reserve Chair Janet Yellen later in the day, as well as US jobs data this … Read more »

Dairy product prices rise with butter and cheddar

Article – BusinessDesk

March 4 (BusinessDesk) – Dairy product prices rose in the latest GlobalDairyTrade auction, as gains in the price of butter and cheddar outweighed declines in the price of anhydrous milk fat, whole milk powder and rennet casein. Read more »

Bankrupt Bryers needs to get back on his feet, lawyer says

Article – BusinessDesk

March 3 (BusinessDesk) – Mark Bryers, bankrupted in 2009 owing $230 million, is running out of time to get back on his feet, his lawyer told a High Court hearing seeking to discharge the former boss of Blue Chip. Read more »

MARKET CLOSE: NZ shares rise, led by Warehouse

Article – BusinessDesk

March 3 (BusinessDesk) – New Zealand shares rose to a fresh record pushed higher by Warehouse Group after James Pascoe lifted its stake to become the second-biggest shareholder in the retailer. Diligent Board Member Services fell after an analyst’s … Read more »

NZ dollar falls vs. A$ after RBA keeps rates on hold

Article – BusinessDesk

March 3 (BusinessDesk) – The New Zealand dollar fell against its trans-Tasman counterpart after the Reserve Bank of Australia kept its key rate unchanged, while leaving open the possibility of a future cut. Read more »

RBA holds cash rate at 2.25%, open to further easing

Article – BusinessDesk

March 3 (BusinessDesk) – The Reserve Bank of Australia held its cash rate unchanged, having cut the benchmark to a record low last month, saying further cuts may be appropriate to stoke sustainable economic growth. Read more »

James Pascoe lifts Warehouse stake to 16.4%

Article – BusinessDesk

March 3 (BusinessDesk) – James Pascoe, the retail group owned by David and Anne Norman, has lifted its holding in Warehouse Group to 16.4 percent after buying out Australian retailer Woolworths’ stake for $87.1 million. Read more »

Credit Suisse downgrades Diligent to ‘neutral’

Article – BusinessDesk

March 3 (BusinessDesk) – Diligent Board Member Services’s plans to spend up ahead of its new product has seen the governance software developer’s stock downgraded by Credit Suisse’s local analyst. Read more »

Weak global demand weighs on NZ sheep, cattle prices

Article – BusinessDesk

March 3 (BusinessDesk) – Weakening demand in China and Europe, combined with the impact of a nine-month port strike on the US West Coast, have eroded farmgate prices for sheep and cattle, Silver Fern Farms says. Read more »

Carter Holt appeals failed strike-out bid over leaky schools

Article – BusinessDesk

March 3 (BusinessDesk) – Carter Holt Harvey, the building products supplier owned by billionaire Graeme Hart, is appealing its failed bid in the High Court to strike out a claim that its cladding contributed to a nationwide problem of leaky school … Read more »

Blue Chip’s Bryers accused of muddying Talos role

Article – BusinessDesk

March 3 (BusinessDesk) – Former Blue Chip boss Mark Bryers was accused of contriving to present himself as a consultant to Talos Accounting Group, when he was actually running the Australian firm in breach of the rules covering undischarged bankrupts, … Read more »

Ex-Solid Energy JV partner, GTL, seeks briquette plant sale

Article – BusinessDesk

March 3 (BusinessDesk) – GTL Energy (New Zealand), Solid Energy’s former partner in an experimental briquette-making plant in Southland, narrowed its loss in 2014 in a year when it garnered no revenue and began preparing for the sale of the Mataura … Read more »

NZ property values rise at fastest pace in 5 months: QV

Article – BusinessDesk

NZ property values rise at fastest pace in 5 months in February, led by Auckland Read more »

Goodman Property to spend $28 mln on three new developments

Article – BusinessDesk

March 3 (BusinessDesk) – Goodman Property Trust, New Zealand’s largest listed property investor by market value, will spend $28 million on two new industrial plants and an office building at its Highbrook Business Park. Read more »

Brook Barrington, state sector veteran, named head of MFAT

Article – BusinessDesk

March 3 (BusinessDesk) – Brook Barrington has been named chief executive of New Zealand’s Ministry of Foreign Affairs and Trade, returning to a department where he had worked for 20 years before taking on senior roles in Defence and Justice. Read more »

Promapp hires marketing executive to lead push into US

Article – BusinessDesk

March 3 (BusinessDesk) – Promapp Solutions, whose software lets organisations map their business processes, has hired a marketing executive to help drive the company’s tilt at the US market. Read more »

NZ dollar declines against Aussie ahead of RBA

Article – BusinessDesk

March 3 (BusinessDesk) – The New Zealand dollar weakened against the Australian dollar as traders have already priced in an interest rate cut by the Reserve Bank of Australia today. Read more »

Bryers questioned over Blue Chip’s related party lending

Article – BusinessDesk

March 3 (BusinessDesk) – Former Blue Chip boss Mark Bryers returns to the witness box today, having faced a day of questions on his management of the failed property investment company, as the High Court continues its examination of his application … Read more »

While you were sleeping: Records fall on Wall Street

Article – BusinessDesk

March 3 (BusinessDesk) – Wall Street rose, with the Dow touching a record high and the Nasdaq climbing above 5,000 for the first time in fifteen years amid optimism about the outlook for the US economy and corporate profits. Read more »

KiwiRail 1H earnings fall on lower coal, logs, dairy volumes

Article – BusinessDesk

March 2 (BusinessDesk) – KiwiRail, the unprofitable government-owned rail operator, reported a 6 percent drop in first-half operating earnings on reduced freight volumes of coal, logs and dairy, and said it would still meet guidance for annual earnings … Read more »