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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 1002]
Warehouse boosts 3Q sales 8.6%, fattens ‘red sheds’ margins
Thursday, 8 May 2014, 9:54 am | BusinessDesk
May 8 (BusinessDesk) – Warehouse Group, New Zealand’s largest publicly listed retailer, posted an 8.6 percent gain in third quarter sales and said profitability improved at its largest ‘red shed’ unit. More >>
Genesis Energy to quit door-knocking
Thursday, 8 May 2014, 9:39 am | BusinessDesk
May 8 (BusinessDesk) - Genesis Energy, the biggest New Zealand power company by number of customers, says it will stop sending its sales force door-to-door after a survey showed the vast majority of kiwis don’t like being bugged at home. More >>
GPG’s Coats lifts 1Q sales as industrial division revives
Thursday, 8 May 2014, 9:21 am | BusinessDesk
May 8 (BusinessDesk) - Guinness Peat Group’s Coats unit boosted first-quarter sales 2 percent in the first three months of the year, and expects to complete its migration to the UK threadmaker’s offices next month. More >>
NZ dollar drops vs. Russian ruble as Ukraine tensions ease
Thursday, 8 May 2014, 8:45 am | BusinessDesk
NZ dollar drops to five-week low vs. Russian ruble as Putin comments ease tensions More >>
While you were sleeping: Groupon, Whole Foods
Thursday, 8 May 2014, 7:54 am | BusinessDesk
May 8 (BusinessDesk) – Wall Street was mixed as the promise of ongoing monetary support to help the US economy kick into higher gear was muted by concern about the outlook for corporate earnings from companies including Groupon and Whole Foods. More >>
MARKET CLOSE NZ shares rise; Kathmandu hits record
Wednesday, 7 May 2014, 5:36 pm | BusinessDesk
MARKET CLOSE NZ shares rise; Kathmandu hits record on sales, property trusts gain on Wheeler comments More >>
NZ dollar drops after RBNZ’s Wheeler talks intervention
Wednesday, 7 May 2014, 5:02 pm | BusinessDesk
May 7 (BusinessDesk) - The New Zealand dollar fell after Reserve Bank governor Graeme Wheeler said he may intervene in currency markets if the kiwi stays strong in the face of falling dairy prices. More >>
NZ Post drops book awards sponsorship
Wednesday, 7 May 2014, 4:09 pm | BusinessDesk
May 7 (BusinessDesk) – New Zealand Post will end its $200,000-plus sponsorship of the national book award at the end of this year, but will continue to support literacy programmes. More >>
Bancorp lists wealth unit in Frankfurt, eyes capital raising
Wednesday, 7 May 2014, 1:57 pm | BusinessDesk
May 7 (BusinessDesk) - Financial services firm Bancorp Group has listed its wealth management and private banking unit on Germany’s Frankfurt Stock Exchange and expects to raise capital in the coming year to help fund future acquisitions. More >>
Kathmandu shares jump to 5-week high on upbeat outlook
Wednesday, 7 May 2014, 1:35 pm | BusinessDesk
Kathmandu shares jump to 5-week high on upbeat outlook for strong performance in full year More >>
UPDATE: NZ jobs data shows migrants finding work
Wednesday, 7 May 2014, 12:24 pm | BusinessDesk
May 7 (BusinessDesk) - New Zealand’s rapid jobs growth and record participation in the first three months of the year show the country’s high migration is getting mopped up by the local labour market and hasn’t driven up wages. More >>
NZ jobless rate holds at 6% as participation rises to record
Wednesday, 7 May 2014, 10:56 am | BusinessDesk
May 7 (BusinessDesk) - New Zealand’s unemployment rate was unchanged in the first quarter as the country’s participation rate rose to a record, with faster-than-expected jobs growth that was fuelled by increases in the primary, manufacturing and construction ... More >>
Lombard directors win appeal against custodial sentences
Wednesday, 7 May 2014, 10:48 am | BusinessDesk
May 7 (BusinessDesk) – The former directors of Lombard Finance have won their appeal against custodial sentences after the Supreme Court agreed they were “honest men” who made misjudgements under pressure. More >>
NZ dollar drops after Wheeler says RBNZ may intervene
Wednesday, 7 May 2014, 10:24 am | BusinessDesk
May 7 (BusinessDesk) – The New Zealand dollar dropped half a cent after Reserve Bank governor Graeme Wheeler said the bank may sell the currency should it remain high while export prices weaken. More >>
NZ regulator clears IAG to buy Wesfarmer’s Lumley unit
Wednesday, 7 May 2014, 9:02 am | BusinessDesk
May 7 (BusinessDesk) - The Commerce Commission has cleared Insurance Australia Group to buy Wesfarmer’s Lumley General Insurance unit, giving New Zealand’s biggest general insurer a boost to market share. More >>
NZ dollar TWI hits new record as investors shun greenback
Wednesday, 7 May 2014, 8:54 am | BusinessDesk
NZ dollar touches three-year high, TWI hits new record, as investors reduce US dollar holdings More >>
While you were sleeping: Twitter sinks
Wednesday, 7 May 2014, 7:38 am | BusinessDesk
May 7 (BusinessDesk) – Wall Street slid as Twitter led a decline in tech stocks amid concern about valuations for the industry, while worries about the escalation of the conflict in Ukraine also weighed on the market. More >>
Dairy product prices fall 1.1% in GlobalDairyTrade auction
Wednesday, 7 May 2014, 7:23 am | BusinessDesk
May 7 (BusinessDesk) - Dairy product prices recorded their sixth straight decline in the latest GlobalDairyTrade auction, returning to levels of a year ago and adding to expectations Fonterra Cooperative Group will trim its forecast for a record milk ... More >>
MARKET CLOSE: NZ shares fall; Meridian, MightyRiverPower dip
Tuesday, 6 May 2014, 5:36 pm | BusinessDesk
MARKET CLOSE: NZ shares fall on concern National’s election chances dented, Meridian, MRP fall More >>
Rural lending growth may slow after dairy-fuelled expansion
Tuesday, 6 May 2014, 5:25 pm | BusinessDesk
NZ rural lending growth may slow after doubling in the past decade on dairy expansion More >>
