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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 1000]
NZ house sales drop 20% in April as central bank moves bite
Monday, 12 May 2014, 4:35 pm | BusinessDesk
May 12 (BusinessDesk) – New Zealand house sales fell 20 percent in April from a year earlier, extending a decline in sales of cheaper property as the Reserve Bank’s restrictions on low-equity mortgages and interest rate hikes weigh on buyers. More >>
Cunliffe pledges surpluses, unemployment down to 4%
Monday, 12 May 2014, 4:17 pm | BusinessDesk
Cunliffe pledges surpluses and to get unemployment to 4 percent by end of first term More >>
Fonterra says price gap between dairy products easing
Monday, 12 May 2014, 3:50 pm | BusinessDesk
May 12 (BusinessDesk) - Fonterra Cooperative Group, which posted a 53 percent drop in first-half profit as gains in prices of milk powder ran ahead of products such as casein and cheese, says the gap is becoming less pronounced – a sign that pressure ... More >>
Carter Holt Australian Building Supplies fattens 2013 margin
Monday, 12 May 2014, 12:53 pm | BusinessDesk
May 12 (BusinessDesk) - Carter Holt Harvey, which sold its pulp, paper and packaging businesses last month, more than tripled gross margins at its Australian building supplies in 2013 and reversed write-downs it took on its timber business a year earlier, ... More >>
NZ Dollar Outlook: Kiwi may fall on signs of US growth
Monday, 12 May 2014, 12:42 pm | BusinessDesk
NZ Dollar Outlook: Kiwi may decline as US dollar prices in improving US economic outlook More >>
Auckland Airport to sell $150 mln of retail bonds
Monday, 12 May 2014, 12:24 pm | BusinessDesk
May 12 (BusinessDesk) – Auckland International Airport, the nation’s busiest gateway, plans to sell $150 million of seven-year bonds that will trade on the NZX, completing the long-term debt funding of last month’s capital return. More >>
NZ dollar falls to week low in anticipation of improving US
Monday, 12 May 2014, 8:50 am | BusinessDesk
NZ dollar falls to week low as greenback advances in anticipation of improving growth outlook More >>
World Week Ahead: Fed speakers out in force
Monday, 12 May 2014, 7:58 am | BusinessDesk
May 12 (BusinessDesk) – A selloff in tech stocks did not stop the Dow Jones Industrial Average from ending last week at a record high and investors will eye earnings from companies including Wal-Mart and speeches from US Federal Reserve Chair Janet Yellen ... More >>
Icehouse to target fewer start-ups in more focused programme
Sunday, 11 May 2014, 10:48 am | BusinessDesk
May 11 (BusinessDesk) – The Icehouse, a New Zealand business growth and start-up incubator, is cutting the number of start-up companies it focuses on in favour of a more in-depth programme designed to get kiwi companies into the international marketplace. More >>
Unaffordable Queenstown goes on Special Housing Area list
Friday, 9 May 2014, 6:40 pm | BusinessDesk
May 9 (BusinessDesk) – The government may add Queenstown to its list of areas where it is working with local government to improve the supply and affordability of housing. More >>
National Party donor is biggest shareholder in Dotcom's Mega
Friday, 9 May 2014, 6:21 pm | BusinessDesk
May 9 (BusinessDesk) - Embattled internet entrepreneur Kim Dotcom has reduced his stake in his data storage and encryption business, Mega, with the largest shareholder now listed Shen Zhao Wu, a donor to the National Party. More >>
MARKET CLOSE: NZ shares fall ahead of earnings
Friday, 9 May 2014, 5:47 pm | BusinessDesk
May 9 (BusinessDesk) – New Zealand shares fell as investors waited on earnings information to justify the benchmark index’s year-to-date outperformance of most Asian markets. Telecom dropped after having risen to a year-and-a-half high. Chorus ... More >>
NZ dollar heads for 1.3% weekly fall vs. Aussie
Friday, 9 May 2014, 5:10 pm | BusinessDesk
NZ dollar heads for 1.3% weekly fall vs. A$ as Australian economy picks up More >>
Trustpower looks to Australia to restore earnings momentum
Friday, 9 May 2014, 3:47 pm | BusinessDesk
May 9 (BusinessDesk) – Tauranga-based utility Trustpower is looking to its Australian windfarm investments to restore earnings momentum after a sluggish result from its New Zealand electricity assets pulled full year net earnings down by 6.7 percent. More >>
Augusta Capital annual earnings fall 7%
Friday, 9 May 2014, 2:44 pm | BusinessDesk
May 9 (BusinessDesk) - Augusta Capital, which spent $15.4 million in cash and scrip on acquisitions, reported a 7 percent fall in annual earnings as tax assets reduced its bill a year earlier, and got a waiver by its bank after breaching its debt covenants ... More >>
NZ retail spending on credit, debit cards rises in April
Friday, 9 May 2014, 11:53 am | BusinessDesk
May 9 (BusinessDesk) – New Zealand retail spending on credit and debit cards rose in April as gains in hospitality and consumables offset falling apparel purchases, as an accelerating economy continues to underpin household confidence. More >>
Foley Family Wines to make bid for Martinborough Vineyard
Friday, 9 May 2014, 11:24 am | BusinessDesk
May 9 (BusinessDesk) – Foley Family Wines, majority owned by American businessman and vineyard owner Bill Foley, plans to make an all-scrip $1.9 million takeover offer for pinot noir pioneer Martinborough Vineyard Estates and has already secured agreements ... More >>
Z margins likely to fall under competitive pressure: analyst
Friday, 9 May 2014, 10:56 am | BusinessDesk
May 9 (BusinessDesk) – Transport fuels distributor and retailer Z Energy’s success in raising margins on petrol and diesel sales is under pressure and are “likely to trend toward the industry’s lower net margin,” says Deutsche Bank analyst ... More >>
Budget surplus on track as corporate tax starts catching up
Friday, 9 May 2014, 10:32 am | BusinessDesk
May 9 (BusinessDesk) - The government’s lagging tax-take got a boost in March as later than expected filing of 2013 company tax returns bolstered the contribution from corporate taxpayers, allowing Finance Minister Bill English to confirm next ... More >>
Commerce Commission seeks more farmers for swaps case
Friday, 9 May 2014, 9:46 am | BusinessDesk
May 9 (BusinessDesk) – The Commerce Commission says farmers concerned about the way their interest rate swaps were sold to them have until the end of the month to contact the regulator otherwise they may miss out on future compensation claims. More >>
