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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 1015]
Airwork loses bid for summary judgment against Skyline unit
Friday, 4 April 2014, 11:11 am | BusinessDesk
April 4 (BusinessDesk) - Airwork Holdings, the aviation services firm which listed last December, has lost its bid for a summary judgment against Skyline Enterprise subsidiary The Helicopter Line over a disputed contract, and will pursue the matter ... More >>
Moa shares soar after meeting sales guidance
Friday, 4 April 2014, 10:59 am | BusinessDesk
April 4 (BusinessDesk) - Shares in Moa Group soared to a three-week high after the beer maker said it met a sales target, which it was forced to cut last year when switching its local distribution. More >>
Double-edged sword of online betting hits racing earnings
Friday, 4 April 2014, 10:46 am | 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 >>
Infratil lowers guidance for 2014 earnings
Friday, 4 April 2014, 10:41 am | BusinessDesk
April 4 (BusinessDesk) – Infratil lowered its expected earnings for the year just ended, citing a weaker performance from the infrastructure investor’s New Zealand energy and public transport markets and the impact of a lower Australian currency. More >>
Xero annual loss more than doubles to $35 million
Friday, 4 April 2014, 9:50 am | BusinessDesk
April 4 (BusinessDesk) – Xero, the cloud-based accounting software company, widened its full-year loss after it doubled staff numbers to drive overseas sales. More >>
NZ dollar gains vs. euro after ECB prepares for stimulus
Friday, 4 April 2014, 8:46 am | BusinessDesk
NZ dollar gains vs. euro after ECB signals it may introduce stimulus to counter deflation More >>
While you were sleeping: Wall Street pauses
Friday, 4 April 2014, 7:45 am | BusinessDesk
April 4 (BusinessDesk) – US equities slipped from record highs as investors awaited the government’s monthly employment data before making further bets on the American economy. More >>
Feltex defence probes key witness’s post-float praise
Thursday, 3 April 2014, 5:48 pm | BusinessDesk
April 3 (BusinessDesk) – An Australian consultant who gave scathing evidence against former directors, owners and advisers of failed Feltex Carpets also praised its progress in a series of articles in his engineering magazine after the company floated, the ... More >>
MARKET CLOSE: NZ stocks join global rally, led by Telecom
Thursday, 3 April 2014, 5:44 pm | BusinessDesk
April 3 (BusinessDesk) – New Zealand shares snapped a three day decline, joining a global rally on positive US US job data and factory orders. Telecom led the benchmark index higher as international investors sought exposure to the kiwi market, while ... More >>
NZF Group faces liquidation as auditor exits
Thursday, 3 April 2014, 5:37 pm | BusinessDesk
April 3 (BusinessDesk) - NZF Group faces liquidation after the resignation of its auditor scuttled a proposal for a substantial restructure, and left the board with no option but to liquidate the company. More >>
Auckland Airport raises $150 mln in wholesale bond issue
Thursday, 3 April 2014, 5:20 pm | BusinessDesk
April 3 (BusinessDesk) - Auckland International Airport, the country’s main aviation gateway, raised $150 million in a wholesale bond issue, and is mulling a retail offer to help fund its capital return to shareholders. More >>
NZ dollar slides; weaker dairy prices weigh on rate outlook
Thursday, 3 April 2014, 5:01 pm | BusinessDesk
April 3 (BusinessDesk) - The New Zealand dollar dropped as declining dairy prices raised concern about the country’s biggest export commodity, and fuelled speculation the Reserve Bank might not hike interest rates as aggressively as expected. More >>
NZ Post quits unprofitable Localist experiment
Thursday, 3 April 2014, 3:18 pm | BusinessDesk
April 3 (BusinessDesk) – New Zealand Post, the state-owned postal service, has sold its unprofitable online directory Localist at a loss to focus on its ailing mail service and growth aspirations for Kiwibank. More >>
Fonterra wins supply contract with Woolworths in Victoria
Thursday, 3 April 2014, 3:06 pm | BusinessDesk
April 3 (BusinessDesk) – Fonterra Cooperative Group, New Zealand’s dominant dairy exporter, has won a contract to supply Woolworths home-brand milk in the Australian state of Victoria for the next 10 years, wresting the previous one-year supply agreement ... More >>
Feltex consultant turned down shares as payment, court hears
Thursday, 3 April 2014, 2:10 pm | BusinessDesk
Consultant tells Feltex hearing he turned down shares as payment a year out from float More >>
Z Energy targets $40-$50M operating earnings uplift by 2018
Thursday, 3 April 2014, 12:51 pm | BusinessDesk
April 3 (BusinessDesk) – Z Energy is targeting an increase of $40 million to $40 million in annual operating earnings by expanding its network of outlets, get customers buying its food and coffee more, refocusing its commercial diesel operation, and ... More >>
BNZ boss Thorburn bumped upstairs to lead Australia’s NAB
Thursday, 3 April 2014, 11:15 am | BusinessDesk
April 3 (BusinessDesk) - Bank of New Zealand boss Andrew Thorburn will take over as chief executive of the local lender’s Australian parent, National Australia Bank, following the trajectory of his predecessor Cameron Clyne who retires from ... More >>
MPI finds another Queensland fruit fly in Whangarei
Thursday, 3 April 2014, 11:10 am | BusinessDesk
April 3 (BusinessDesk) – A second Queensland fruit fly has been trapped at a site in Whangarei just 400 metres from where another single example of the insect was found in January. More >>
NZ Energy Corp targeting 16 producing wells
Thursday, 3 April 2014, 10:58 am | BusinessDesk
April 3 (BusinessDesk) – Onshore Taranaki oil producer New Zealand Energy Corp. returned two previously producing wells to production last month and is advancing plans for another three to come on stream by the end of June. More >>
Mainzeal liquidator steps up pressure on director Yan
Thursday, 3 April 2014, 10:39 am | BusinessDesk
April 3 (BusinessDesk) - The liquidators for the Mainzeal group are stepping up their pressure on former director Richard Yan as they try to get to the bottom of the construction company’s failure. More >>
