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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 1012]
MARKET CLOSE: NZ shares join global stocks lower, led by PEB
Friday, 11 April 2014, 5:42 pm | BusinessDesk
April 11 (BusinessDesk) – New Zealand stocks joined a global sell-off amid concerns high-growth companies may struggle to convert sales into profits, led lower by biotech firm Pacific Edge and software developer Xero. More >>
NZ dollar drops as sliding equity markets sap risk appetite
Friday, 11 April 2014, 5:11 pm | BusinessDesk
April 11 (BusinessDesk) - The New Zealand dollar fell as weak equity markets around the world sapped demand for risk-sensitive assets, though the prospect of higher interest rates will likely give the local currency support. More >>
US record labels follow movie studios, Dotcom’s Megaupload
Friday, 11 April 2014, 3:15 pm | BusinessDesk
April 11 (BusinessDesk) - Four major US record labels are suing Megaupload founder Kim Dotcom and his associates in an almost identical suit filed by six Hollywood movie studios earlier this week. More >>
Solid Energy gearing stuck around 70% unless prices recover
Friday, 11 April 2014, 12:47 pm | BusinessDesk
April 11 (BusinessDesk) – Solid Energy continues to forecast far higher levels of debt than sector peers and does not expect that to improve until international coal prices recover, Parliament’s commerce select committee says in a report on ... More >>
NZ food prices fall in March on cheaper cakes and candy
Friday, 11 April 2014, 12:36 pm | BusinessDesk
April 11 (BusinessDesk) – New Zealand food prices fell in March as cheaper cakes and candy drove a fall in grocery prices, and offset more expensive meat and produce. More >>
Pacific Edge slumps to 5-month low as growth stocks struggle
Friday, 11 April 2014, 11:24 am | BusinessDesk
April 11 (BusinessDesk) – Pacific Edge shares slumped to a five-month low, as the local stock market joined a global sell-off amid concerns high-growth companies may struggle to convert sales into profits. More >>
Renaissance capital return unlikely before June
Friday, 11 April 2014, 10:53 am | BusinessDesk
April 11 (BusinessDesk) - Shareholders in Renaissance Corp, which sold its last business unit earlier this month, are unlikely to receive any payments before June in what will probably be a two-part distribution if they decide to liquidate the company. More >>
March NZ house sales drop 10% as loan curbs bite
Friday, 11 April 2014, 9:41 am | BusinessDesk
April 11 (BusinessDesk) - New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More >>
Chorus to appeal copper pricing judgment
Friday, 11 April 2014, 9:02 am | BusinessDesk
April 11 (BusinessDesk) - Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More >>
NZ dollar falls vs. A$ after strong Australian job figures
Friday, 11 April 2014, 8:54 am | BusinessDesk
April 11 (BusinessDesk) - The New Zealand dollar extended its decline against its trans-Tasman counterpart after figures showed Australian unemployment unexpectedly fell last month. More >>
While you were sleeping: Wall Street tumbles
Friday, 11 April 2014, 7:45 am | BusinessDesk
April 11 (BusinessDesk) – Wall Street slumped as investors sold, yet again, biotech and internet stocks heading into the quarterly US earnings season, while Bed Bath & Beyond shares took a beating following disappointing results. More >>
MARKET CLOSE: NZ shares rise on broad based rally
Thursday, 10 April 2014, 6:25 pm | BusinessDesk
April 10 (BusinessDesk) – New Zealand stocks rose in a broad-based rally. Xero extended its gains, leading the benchmark index higher, while investors also returned to companies offering reasonable dividends, such as Telecom and property trusts. More >>
MARKET CLOSE: NZ shares rise on broad based rally
Thursday, 10 April 2014, 5:54 pm | BusinessDesk
April 10 (BusinessDesk) – New Zealand stocks rose in a broad-based rally. Xero extended its gains, leading the benchmark index higher, while investors also returned to companies offering reasonable dividends, such as Telecom and property trusts. More >>
NZ dollar holds near 3-year high as CPI and China GDP loom
Thursday, 10 April 2014, 5:36 pm | BusinessDesk
NZ dollar holds near 3-year high as traders look ahead to CPI, China GDP More >>
Warehouse shareholders cool on $15mln share purchase plan
Thursday, 10 April 2014, 4:51 pm | BusinessDesk
April 10 (BusinessDesk) – Warehouse Group, New Zealand’s largest listed retailer, has completed a $115 million capital-raising, although the final $15 million tranche offered to shareholders was not fully taken up. More >>
Feltex defence argues 'rigorous' vetting for 2004 prospectus
Thursday, 10 April 2014, 4:31 pm | BusinessDesk
April 10 (BusinessDesk) - Lawyers for directors in the Feltex Carpets shareholder lawsuit have argued their clients went through a rigorous process of due diligence in preparing the prospectus for the failed company’s 2004 share sale. More >>
Abano board hits back at dissident shareholders
Thursday, 10 April 2014, 4:26 pm | BusinessDesk
April 10 (BusinessDesk) – Abano Healthcare chairman Trevor Janes has hit back at rebel shareholders calling for his resignation, rubbishing claims he was not independent and accusing his attackers of a campaign of “selective, deceptive, and misleading” ... More >>
NZ sawmillers to endure more pain as exporter margins shrink
Thursday, 10 April 2014, 3:18 pm | BusinessDesk
April 10 (BusinessDesk) – New Zealand timber companies, who have closed more than 40 sawmills in the past decade, are likely to face more pain as plants tied to the export trade face lower-cost Chinese mills, rising competition and a high kiwi dollar ... More >>
NZ screen industry revenue fell in 2013
Thursday, 10 April 2014, 2:21 pm | BusinessDesk
April 10 (BusinessDesk) – The New Zealand screen industry’s revenue dropped 4 percent in 2013, from a record high in 2012, as decline in production of feature films more than offset gains from local television and movie theatres. More >>
Jilted Abano suitors turn guns on chair, NZX, Grant Samuel
Thursday, 10 April 2014, 2:09 pm | BusinessDesk
April 10 (BusinessDesk) – A rebel shareholder group that attempted an unsuccessful takeover bid for Abano Healthcare has launched a campaign to unseat chairman Trevor Janes, in a coordinated attack that also questions decisions by NZX Regulation and ... More >>
