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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 1018]
NZ dollar stays high as US employment data comes into focus
Monday, 31 March 2014, 8:55 am | BusinessDesk
March 31 (BusinessDesk) - The New Zealand dollar stuck close to its recent two-and-a-half year high against the greenback as investors shift their focus to a series US employment figures this week, and ahead of a local business confidence survey today. More >>
Retailers lagging others in getting to grips with the web
Monday, 31 March 2014, 8:21 am | BusinessDesk
March 31 (BusinessDesk) – New Zealand retailers are falling behind other sectors of the economy in their use of the internet to drive sales and business management, says a major new study funded by Internet NZ and the global internet search engine, ... More >>
World Week Ahead: Eyes on US jobs, Yellen
Monday, 31 March 2014, 8:16 am | BusinessDesk
March 31 (BusinessDesk) – A slew of US economic reports due in the coming days might help bolster sentiment especially if March’s jobs data show the country has weathered a frigid winter better than anticipated. More >>
Genesis Energy to list at $1.55 a share to raise $736mln
Friday, 28 March 2014, 6:23 pm | BusinessDesk
March 28 (BusinessDesk) – Genesis Energy shares will list on April 17 at $1.55 a share, at the high end of the value range of $1.35 to $1.65 a share nominated for the sale of up to 49 percent of New Zealand’s largest electricity and gas retailer ... More >>
NZ shares rise as investors optimistic on electricity market
Friday, 28 March 2014, 5:58 pm | BusinessDesk
March 28 (BusinessDesk) - New Zealand stocks advanced, led by electricity shares as investors anticipate the National Party may win this year’s election, boding well for the sector under threat of increased regulation and lower earnings should ... More >>
NZ dollar heads for 1.8% weekly gain
Friday, 28 March 2014, 5:18 pm | BusinessDesk
NZ dollar heads for 1.8% weekly gain as Chinese stimulus talk adds to upbeat local outlook More >>
Deutsche keeps ‘sell’ rating on Fonterra, seeks transparency
Friday, 28 March 2014, 3:37 pm | BusinessDesk
March 28 (BusinessDesk) – Fonterra Cooperative Group needs to make it far clearer to farmers and other investors how its business model operates, says Deutsche Bank after the dairy exporter shored up a slump in half-year profits by intervening in ... More >>
Commerce Commission sets December deadline on Chorus pricing
Friday, 28 March 2014, 2:35 pm | BusinessDesk
March 28 (BusinessDesk) - The Commerce Commission plans to determine a final price for what Chorus can charge users of its copper line services by Dec. 1. The shares gained 4.6 percent, making it the best performing stock on the benchmark NZX 50 Index ... More >>
Scott Technology first-half profit drops 63%
Friday, 28 March 2014, 12:51 pm | BusinessDesk
March 28 (BusinessDesk) - Scott Technology, the industrial automation firm, reported a 63 percent slump in first-half profit as a strong New Zealand dollar eroded the company’s export earnings and stiff competition pushed down margins. More >>
Dairy prices may dip as record payouts stoke more production
Friday, 28 March 2014, 11:49 am | BusinessDesk
March 28 (BusinessDesk) – Dairy prices will probably decline over the last few months of the New Zealand season as farmers ramp up milk production to benefit from record payouts. More >>
CORRECT: Foss beefs up KiwiSaver default fund numbers
Friday, 28 March 2014, 10:33 am | BusinessDesk
March 28 (BusinessDesk) - Commerce Minister Craig Foss has beefed up the number of KiwiSaver default providers that members are automatically enrolled into when they sign up to the government sponsored scheme. More >>
Commerce Minister Foss adds to KiwiSaver default funds
Friday, 28 March 2014, 9:24 am | BusinessDesk
March 28 (BusinessDesk) - Commerce Minister Craig Foss has beefed up the number of KiwiSaver default providers that members are automatically enrolled into when they sign up to the government sponsored scheme. More >>
NZ dollar gains as RBNZ signals rate hikes on track
Friday, 28 March 2014, 8:42 am | BusinessDesk
NZ dollar hits two-and-a-half year high after RBNZ’s Spencer signals higher kiwi won’t limit rate hikes More >>
While you were sleeping: Citigroup drops
Friday, 28 March 2014, 7:45 am | BusinessDesk
March 28 (BusinessDesk) – Wall Street fell along with shares of Citigroup after the bank failed a Federal Reserve stress test of its capital plan, overshadowing an upward revision of US economic growth in the fourth quarter of 2013. More >>
Low-equity loan limits worth one or two rate hikes: RBNZ
Thursday, 27 March 2014, 6:07 pm | BusinessDesk
March 27 (BusinessDesk) - The Reserve Bank’s speed limits on low-equity mortgage lending helped stifle inflationary pressures by an amount similar to one or two interest rate hikes and may have taken pressure off the high value of the kiwi dollar, according ... More >>
MARKET CLOSE: NZ shares rise, Fletcher, Steel and Tube gain
Thursday, 27 March 2014, 5:52 pm | BusinessDesk
MARKET CLOSE: NZ shares rise, Fletcher, Steel and Tube gain on investors seeking recovery exposure More >>
Mainzeal liquidation racks up $523k in legal fees
Thursday, 27 March 2014, 5:08 pm | BusinessDesk
March 27 (BusinessDesk) - The liquidators of the Mainzeal Group of companies have racked up $523,000 in legal fees since taking on the administration, as they face several court battles with the failed construction firm’s principal, Richard Yan. More >>
NZ dollar gains after record February trade surplus
Thursday, 27 March 2014, 5:04 pm | BusinessDesk
March 27 (BusinessDesk) - The New Zealand dollar rose after a record trade surplus for the month of February fuelled optimism about local economic growth, which has tipped the Reserve Bank into a tightening cycle to head off the threat of future ... More >>
Government issues fracking guidelines before watchdog report
Thursday, 27 March 2014, 4:51 pm | BusinessDesk
March 27 (BusinessDesk) – The government has issued what it says are best practice guidelines for undertaking hydraulic fracturing, or fracking, including how to undertake so-called “land farming” and warning that fracking fluids can migrate into drinking ... More >>
Methven cuts guidance as ‘soft’ trading conditions endure
Thursday, 27 March 2014, 4:36 pm | BusinessDesk
March 27 (BusinessDesk) – Methven, the tap-maker and distributer, cut its full-year earnings guidance for a second time, saying soft trading conditions it flagged in January have continued for longer than expected. More >>
