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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 1014]
Postie Plus reports wider loss, looks to reduce bank debt
Tuesday, 8 April 2014, 4:17 pm | BusinessDesk
April 8 (BusinessDesk) - Postie Plus Group, whose stock has dropped 42 percent in the past 12 months, has met an extended deadline to post its first-half results, reporting a wider loss on supply chain disruptions and tough trading conditions for ... More >>
Blue Sky Meats strengthens Chinese ties as exporter buys 11%
Tuesday, 8 April 2014, 3:09 pm | BusinessDesk
April 7 (BusinessDesk) – Blue Sky Meats has strengthened ties with China, its largest market by volume and value, after two Auckland-based businessmen paid a premium for 11 percent of the unprofitable meat processor. More >>
Chrous split was ‘always going to drive pricing 'sea-change'
Tuesday, 8 April 2014, 1:58 pm | BusinessDesk
April 8 (BusinessDesk) – The law change allowing Telecom to carve out its Chorus network unit to participate in the government’s ultra-fast broadband scheme “was always going to drive a pricing sea-change” for the company’s regulated services, ... More >>
Mainzeal receivers recoup $28M from asset sales, recoveries
Tuesday, 8 April 2014, 1:07 pm | BusinessDesk
Mainzeal receivers recoup $28.3 mln from asset sales, recoveries, distribute $3.6M to liquidators More >>
Wesfarmers exits insurance industry with sale of units
Monday, 7 April 2014, 3:29 pm | BusinessDesk
April 7 (BusinessDesk) – Wesfarmers has agreed to sell its broking and premium funding units for A$1 billion to Arthur J. Gallagher & Co, the New York stock exchange-listed insurer, completing the Australian company’s exit from the insurance ... More >>
NZ house values rise at slowest annual pace in 6 months
Monday, 7 April 2014, 1:28 pm | BusinessDesk
NZ house values rise at the slowest annual pace in six months in March, QV says More >>
Perpetual Trust to merge with Guardian Trust in $68.5M deal
Monday, 7 April 2014, 1:07 pm | BusinessDesk
Perpetual Trust to merge with Guardian Trust in $68.5 mln Milford Asset-backed deal More >>
NZ Dollar Outlook: Kiwi moves hanging on overseas action
Monday, 7 April 2014, 12:12 pm | BusinessDesk
April 7 (BusinessDesk) – The New Zealand dollar will probably take its direction from overseas sentiment this week, with little on the local agenda as investors anticipate a rise in interest rates later this month. More >>
Whistleblower sparks Commerce Commission probe into forex
Monday, 7 April 2014, 10:58 am | BusinessDesk
April 7 (BusinessDesk) - A Commerce Commission probe into the foreign exchange market was sparked by a whistleblower, the regulator said. More >>
NZ dollar gains as investors seek yield after US jobs data
Monday, 7 April 2014, 8:38 am | BusinessDesk
April 7 (BusinessDesk) – The New Zealand dollar popped above 86 US cents at the weekend after a key US jobs report failed to meet the expectations of some investors, spurring demand for higher-yielding currencies. More >>
World Week Ahead: US earnings, IMF, World Bank
Monday, 7 April 2014, 7:45 am | BusinessDesk
April 7 (BusinessDesk) – Investors are gearing up for the start of the US first-quarter earnings season with Alcoa set to report on Tuesday and they will be closely watching what kind of outlook corporate America sees for the months ahead. More >>
Huge opportunity in new state house policy: English
Friday, 4 April 2014, 6:02 pm | BusinessDesk
April 4 (BusinessDesk) – Finance Minister Bill English is urging infrastructure and construction firms to recognise opportunities to build the next generation of state houses as he predicts reforms that kick in mid-month will make the government ... More >>
MARKET CLOSE: NZ shares rise
Friday, 4 April 2014, 5:35 pm | BusinessDesk
April 4 (BusinessDesk) – New Zealand stocks rose ahead of the Genesis Energy offer as investors sought to reweight their energy holdings in anticipation they won’t be allocated as many shares in Genesis as they had hoped. Meridian Energy, MightyRiverPower ... More >>
NZ dollar heads for 1.2 percent weekly decline
Friday, 4 April 2014, 5:06 pm | BusinessDesk
NZ dollar heads for 1.2 percent weekly decline as weak dairy weighs, US jobs report looms More >>
UPDATE: Fonterra fined $300,000 over food safety failings
Friday, 4 April 2014, 4:07 pm | BusinessDesk
April 4 (BusinessDesk) – Fonterra Cooperative Group, the country’s biggest company, was fined $300,000 for breaches of the Animal Products Act during last year’s whey protein concentrate incident. More >>
Fonterra fined $300,000 over last year’s WPC incident
Friday, 4 April 2014, 3:30 pm | BusinessDesk
April 4 (BusinessDesk) – Fonterra Cooperative Group, the nation’s dominant dairy exporter, was fined $300,000 for breaches of the Animal Products Act during last year’s whey protein concentrate incident. More >>
Former E-Gas managers found guilty of fraud worth up to $17M
Friday, 4 April 2014, 3:27 pm | BusinessDesk
April 4 (BusinessDesk) – Two former managers of gas retailer E-Gas were found guilty of fraud charges involving as much as $17 million related to under-reporting of gas usage. More >>
CORRECT: Online betting eats into Racing Board's earnings
Friday, 4 April 2014, 2:53 pm | BusinessDesk
April 4 (BusinessDesk) - New Zealand's Racing Board has posted a 2 percent gain in first-half betting and gaming turnover as it continues to push online gambling options in a bid to drive growth and stem any flow to overseas bookmakers. More >>
PharmaZen boosts 2013 earnings
Friday, 4 April 2014, 2:30 pm | BusinessDesk
April 4 (BusinessDesk) – Biotechnology company PharmaZen says full year pretax earnings rose 38 percent as it entered the retail market with its calcium supplement, StimuCal. More >>
Auckland house sales jump 80% in March, Barfoot says
Friday, 4 April 2014, 12:06 pm | BusinessDesk
April 4 (BusinessDesk) – Auckland residential property sales rebounded in March after a soft February, according to Barfoot & Thompson, the city’s largest realtor. More >>
