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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 1026]
RESEND: Bridgecorp receiver cuts $18.9M deal with directors
Wednesday, 12 March 2014, 12:22 pm | BusinessDesk
March 12 (BusinessDesk) - The receiver for Bridgecorp has reached a deal with the former directors and insurer of the failed lender, which will boost the payout to investors by 4 cents in the dollar. More >>
NZ short-term accommodation trend flattens in January
Wednesday, 12 March 2014, 11:45 am | BusinessDesk
March 12 (BusinessDesk) – New Zealand guest nights spent in short term commercial accommodation barely budged in January as an increase in hotel stays was offset by a drop for motels, backpacker and holiday park stays. More >>
Bridgecorp receiver cuts $18.9 mln settlement
Wednesday, 12 March 2014, 11:37 am | BusinessDesk
March 12 (BusinessDesk) - The receiver for Bridgecorp has reached a deal with the former directors and insurer of the failed lender, which will boost the payout to investors by 4 cents in the dollar. More >>
Trade Me fee hike may reap $22.5M more real estate ad sales
Wednesday, 12 March 2014, 9:24 am | BusinessDesk
Trade Me may reap $22.5M more real estate ad revenue by hiking fees, fending off rivals More >>
NZ TWI rises to post-float record, keeping RBNZ wary
Wednesday, 12 March 2014, 9:19 am | BusinessDesk
NZ TWI rises to post-float record, raising chances RBNZ’s Wheeler will talk down the kiwi tomorrow More >>
Skellerup reaches $32.3 mln settlement with insurers
Wednesday, 12 March 2014, 9:15 am | BusinessDesk
March 12 (BusinessDesk) - Skellerup, the industrial rubber goods maker, has reached a $32.3 million settlement with insurers over claims from the Canterbury earthquakes in 2010 and 2011 which prompted the relocation of its Christchurch manufacturing ... More >>
While you were sleeping: Wall Street declines
Wednesday, 12 March 2014, 7:42 am | BusinessDesk
March 12 (BusinessDesk) – Wall Street slid amid ongoing concern about an international standoff about Ukraine, while copper continued its slump because of worries about the slowing pace of growth and more corporate bond defaults in China. More >>
MARKET CLOSE: NZ shares fall; Fletcher, Xero drop
Tuesday, 11 March 2014, 5:37 pm | BusinessDesk
March 11 (BusinessDesk) – New Zealand stocks fell for a second day as some investors took advantage of a market that reached a record last week to reduce their holdings. New Zealand’s four largest listed companies, Fletcher Building, Xero, Auckland ... More >>
Metlifecare sees annual earnings growth of up to 18%
Tuesday, 11 March 2014, 5:17 pm | BusinessDesk
March 11 (BusinessDesk) - Metlifecare, the retirement village operator which counts the New Zealand Superannuation Fund and Infratil as cornerstone investors, sees annual earnings growth of up to 18 percent provided current trading conditions stay in place. More >>
NZ dollar gains ahead of RBNZ statement
Tuesday, 11 March 2014, 5:13 pm | BusinessDesk
March 11 (BusinessDesk) - The New Zealand dollar gained in local trading on expectations the Reserve Bank will hike the official cash rate at this Thursday’s policy review, kicking off a prolonged tightening cycle. More >>
Environmentalists seek to delay seabed mining application
Tuesday, 11 March 2014, 4:15 pm | BusinessDesk
March 11 (BusinessDesk) – Environmental groups are calling for the postponement of TransTasman Resources’ application to mine ironsands in the Exclusive Economic Zone off the coast from Patea, claiming the company has not taken all relevant considerations ... More >>
Solid Energy names Glencore’s Dan Clifford as CEO
Tuesday, 11 March 2014, 2:31 pm | BusinessDesk
March 11 (BusinessDesk) – Solid Energy, the unprofitable state-owned coal miner, has named an Australian mining manager at Glencore Xstrata as its chief executive after a year-long search following the departure of Don Elder. More >>
Govt seeks feedback on single ID for companies
Tuesday, 11 March 2014, 2:16 pm | BusinessDesk
March 11 (BusinessDesk) – The government is seeking feedback on the practicalities and privacy issues arising from its move to give all businesses, including charities, partnerships and sole traders, a single identifying number for dealings with state ... More >>
Postie Plus expects narrower annual loss
Tuesday, 11 March 2014, 1:12 pm | BusinessDesk
March 11 (BusinessDesk) - Postie Plus, whose shares have plunged 44 percent over the past 12 months, expects to narrow its annual loss as it tries to revive profitability. More >>
NZ spending on credit, debit cards rises in February
Tuesday, 11 March 2014, 11:45 am | BusinessDesk
March 11 (BusinessDesk) – New Zealanders spent more on their credit and debit cards in February, fuelled by spending on hospitality, while durables and apparel rebounded from declines in January. More >>
UPDATE Chorus shares slip after ‘pragmatic’ deal with CFH
Tuesday, 11 March 2014, 11:07 am | BusinessDesk
March 11 (BusinessDesk) - Shares in Chorus slipped after the telecommunications network operator said it reached an initial deal with Crown Fibre Holdings to manage cash flow and provide more certainty for the ultrafast broadband roll-out. More >>
Tax take continues to fall short, pushing government deficit
Tuesday, 11 March 2014, 10:26 am | BusinessDesk
March 11 (BusinessDesk) - The New Zealand government’s operating deficit was wider than expected in the first seven months of the 2014 financial year, with a smaller tax take than forecast and lower than anticipated tobacco excise duty. More >>
NZ property sales fall in sign LVR curbs are biting
Tuesday, 11 March 2014, 10:11 am | BusinessDesk
NZ property sales fall 7.6% in February as restrictions on high debt lending bite More >>
No extra funding for Chorus in UFB deal with Crown Fibre
Tuesday, 11 March 2014, 9:12 am | BusinessDesk
March 11 (BusinessDesk) - Chorus won’t get any additional government funding from Crown Fibre Holdings as part of a deal to help the telecommunications network operator manage cash flow and provide more certainty for the ultrafast broadband roll-out. More >>
NZ dollar gains vs. sterling after BOE talks down currency
Tuesday, 11 March 2014, 8:45 am | BusinessDesk
March 11 (BusinessDesk) – The New Zealand dollar touched a month-high against the British pound after a Bank of England official talked down the value of sterling. More >>
