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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 1023]
Pumpkin Patch 1H profit slides 98% on poor Australia trading
Wednesday, 19 March 2014, 11:15 am | BusinessDesk
March 19 (BusinessDesk) – Pumpkin Patch said first-half earnings plunged 98 percent as competition in Australia and New Zealand forced the children’s clothing retailer to discount prices to stem a decline in sales, while contending with supply chain ... More >>
APN raises A$23 mln in oversubscribed retail offer
Wednesday, 19 March 2014, 10:41 am | BusinessDesk
March 19 (BusinessDesk) - APN News & Media, the Australasian publisher of the New Zealand Herald newspaper, raised about A$23 million in the retail component of a capital raising to take control of its radio businesses, buying out its partner. More >>
Airwork lifts annual forecast profit on helicopters
Wednesday, 19 March 2014, 10:10 am | BusinessDesk
March 19 (BusinessDesk) - Airwork Holdings, the aviation services specialist which listed last December, says annual profit will beat its offer document forecast by $1 million as its helicopter division operates ahead of expectations. More >>
NZ dollar soars to 11-month high as risk back in favour
Wednesday, 19 March 2014, 9:12 am | BusinessDesk
March 19 (BusinessDesk) – The New Zealand dollar jumped to an 11-month high, making it the best performing major currency overnight, as investors turned to riskier assets after Russia indicated it doesn’t intend to claim further territory in Ukraine. More >>
Dairy product prices drop as March volumes rise
Wednesday, 19 March 2014, 8:43 am | BusinessDesk
March 19 (BusinessDesk) - Dairy product prices fell to the lowest trade-weighted price in nine months, led by anhydrous milk fat and rennet casein, in a third decline on Fonterra Cooperative Group’s GlobalDairyTrade auction site. More >>
While you were sleeping: Microsoft shares climb
Wednesday, 19 March 2014, 7:24 am | BusinessDesk
March 19 (BusinessDesk) – Shares of Microsoft rallied amid reports the company is set to announce an iPad-compatible version of its Office software suite later this month helping to pace broader market gains. More >>
UPDATED: Abano says FY earnings before minorities to rise
Wednesday, 19 March 2014, 12:18 am | BusinessDesk
March 18 (BusinessDesk) – Abano Healthcare says annual profit before minority interests will exceed the estimate in a Grant Samuel report given last November when the healthcare investor was fending off a proposal from a hostile shareholder. More >>
RESEND: Feltex float ‘squeezed the juice from the lemon’
Tuesday, 18 March 2014, 6:37 pm | BusinessDesk
March 18 (BusinessDesk) - Feltex Carpets' former executive director Peter Thomas likened the company's 2004 float to a lemon from which most of the juice had been squeezed out, according to an email cited at a court hearing into a shareholder lawsuit. More >>
Abano warns on FY profit, sales over kiwi, takeover bid
Tuesday, 18 March 2014, 6:26 pm | BusinessDesk
March 18 (BusinessDesk) - Abano Healthcare, the healthcare investor, anticipates smaller annual revenue due to the strength of the New Zealand dollar and lower net profit after a failed takeover attempt last year from a consortium which included ... More >>
Feltex float ‘squeezed the juice from the lemon’ court hears
Tuesday, 18 March 2014, 5:57 pm | BusinessDesk
March 18 (BusinessDesk) - Feltex Carpets’ former executive director Peter Thomas likened the company’s 2004 float to a lemon from which most of the juice had been squeezed out, according to an email cited at a court hearing into a shareholder lawsuit ... More >>
MARKET CLOSE: NZX 50 rises to new record
Tuesday, 18 March 2014, 5:43 pm | BusinessDesk
MARKET CLOSE: NZX 50 rises to new record; MRP, Meridian, Contact gain on political polls More >>
Sharply improved productivity suggest economic tipping point
Tuesday, 18 March 2014, 5:32 pm | BusinessDesk
March 18 (BusinessDesk) – A sharp improvement in New Zealand’s traditionally feeble economic productivity statistics suggests the economy is at a “tipping point” for a sustained period of stronger economic growth, says the ANZ Bank’s chief economist, ... More >>
NZ dollar holds gains as RBA affirms optimism about Aussie
Tuesday, 18 March 2014, 5:28 pm | BusinessDesk
March 18 (BusinessDesk) - The New Zealand dollar held gains in local trading after board minutes from the last Reserve Bank of Australia meeting were sufficiently upbeat to affirm investors’ views on the growing strength of Australia’s economy. More >>
Expats breathe easier as IRD issues new advice on residency
Tuesday, 18 March 2014, 2:24 pm | BusinessDesk
March 18 (BusinessDesk) – New Zealanders living and working overseas can breathe a little easier now tax authorities have agreed that renting out a house they own in New Zealand doesn’t automatically make them a New Zealand taxpayer. More >>
Regulation to blame for sharp copper price cut, lawyer says
Tuesday, 18 March 2014, 2:15 pm | BusinessDesk
March 18 (BusinessDesk) - Sweeping changes to laws governing the telecommunications sector were to blame for size of the drop in what Chorus can charge for access to its copper lines services, rather than the Commerce Commission’s decision to impose ... More >>
NZX plans new market with fewer rules to lure smaller firms
Tuesday, 18 March 2014, 1:20 pm | BusinessDesk
March 18 (BusinessDesk) – NZX, New Zealand’s stock market operator, plans a new market with less disclosure obligations to attract smaller companies, eventually replacing the New Zealand Alternative Market, the NZAX. More >>
Nufarm to review NZ, take A$39M charge on Aussie shakeout
Tuesday, 18 March 2014, 12:42 pm | BusinessDesk
March 18 (BusinessDesk) - Nufarm, the agricultural chemicals manufacturer, will take an A$39 million charge against this year’s results to close plants, service centres and back office functions to bolster returns. More >>
Chorus wants regulator’s pricing review set aside
Tuesday, 18 March 2014, 12:04 pm | BusinessDesk
March 18 (BusinessDesk) - - Chorus, whose shares have tumbled 53 percent in the past two years because of price cuts imposed by the regulator, wants the Commerce Commission’s review of network pricing set aside, the High Court heard today. More >>
NZ dollar advances as investors favour risk sensitive assets
Tuesday, 18 March 2014, 8:45 am | BusinessDesk
March 18 (BusinessDesk) – The New Zealand dollar rose as investors returned to more risk sensitive assets as fears over an escalation of tension in Ukraine proved unfounded and markets were relatively stable after China widened the trading band ... More >>
While you were sleeping: US manufacturing lifts stocks
Tuesday, 18 March 2014, 7:26 am | BusinessDesk
March 18 (BusinessDesk) – Equities on both sides of the Atlantic advanced amid better-than-expected gains in US manufacturing as Federal Reserve policy makers gear up to start their next two-day meeting on Tuesday. More >>
