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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 1034]
Heartland posts 1H profit in line with forecast
Tuesday, 25 February 2014, 10:57 am | BusinessDesk
Feb. 25 (BusinessDesk) – Heartland New Zealand, which gained a banking licence just over a year ago, posted first-half profit growth in line with its forecast and said increased rivalry in business and rural lending was “challenging” though ... More >>
Bathurst hunkers down as coking coal price keeps sinking
Tuesday, 25 February 2014, 10:53 am | BusinessDesk
Feb. 25 (BusinessDesk) – Coal miner Bathurst Resources is making 29 staff redundant as it hunkers down to ride out the lowest world prices for coking coal in the last nine years, and signals a delayed start to its controversial Escarpment open-cut ... More >>
GPG pension woes drag as Coats unit returns to profit
Tuesday, 25 February 2014, 9:53 am | BusinessDesk
Feb. 25 (BusinessDesk) - Guinness Peat Group, the cash-rich owner of thread-making business Coats, is still muddling through arrangements for its UK pension obligations before returning capital to shareholders, while reporting its Coats unit returned ... More >>
Summerset annual profit more than doubles to record
Tuesday, 25 February 2014, 9:46 am | BusinessDesk
Feb. 25 (BusinessDesk) – Summerset Group, whose shares have made almost three times the gains of the NZX 50 Index since listing in 2011, said annual profit more than doubled to a record as sales of occupation rights in its retirement villages reached ... More >>
NZ dollar advances as investor mood turns buoyant
Tuesday, 25 February 2014, 8:55 am | BusinessDesk
Feb 25 (BusinessDesk) – The New Zealand dollar rose to a week high against other major currencies overnight as investors felt more buoyant, underpinning stocks and commodity currencies. More >>
While you were sleeping: S&P 500 rallies to record
Tuesday, 25 February 2014, 7:35 am | BusinessDesk
Feb 25 (BusinessDesk) – Wall Street gained, with the Standard & Poor’s 500 Index rising to a record high, as investors bet that the outlook for economic growth and corporate profits justify valuations. More >>
MARKET CLOSE: NZ shares rise as Sky TV earnings surprise
Monday, 24 February 2014, 5:51 pm | BusinessDesk
Feb. 24 (BusinessDesk) – New Zealand stocks rose, led by Sky Network Television, after the nation’s pay-TV operator posted earnings that beat estimates. Telecom rebounded from a selloff on Friday when it posted a modest gain in earnings and announced ... More >>
NZ dollar little changed after Chinese shares sink
Monday, 24 February 2014, 5:14 pm | BusinessDesk
Feb. 24 (BusinessDesk) - The New Zealand dollar was little changed after a slump on China’s stock market weighed on Australia’s currency and ahead of a light week for economic data releases. More >>
Govt to sell Genesis stake in ‘next month or so’, Key says
Monday, 24 February 2014, 4:26 pm | BusinessDesk
Feb. 24 (BusinessDesk) - The government plans to sell down its holding in Genesis Energy “in the next month or so” with more details coming on Wednesday, Prime Minister John Key says. More >>
NZ Dollar Outlook: Kiwi may lack direction on dearth of data
Monday, 24 February 2014, 1:29 pm | BusinessDesk
Feb. 24 (BusinessDesk) – The New Zealand dollar may struggle for direction this week, reflecting a lack of key data releases. More >>
Wynyard beats 2013 sales forecast, posts wider loss
Monday, 24 February 2014, 1:27 pm | BusinessDesk
Feb. 24 (BusinessDesk) - Wynyard Group, the intelligence software developer, just beat its forecast annual sales by attracting customers to its suite of services, while posting a bigger loss than expected a because of investments and listing costs. More >>
Nib NZ reverses Tower Medical’s decline
Monday, 24 February 2014, 12:47 pm | BusinessDesk
Feb. 24 (BusinessDesk) – Nib New Zealand, which acquired Tower Medical Insurance late 2012 to become New Zealand’s second-largest health insurer, says it has halted Tower’s customer losses, achieving modest growth by targeting the under 40s market. More >>
Chorus dials back copper spending to drive $400 mln savings
Monday, 24 February 2014, 12:17 pm | BusinessDesk
Feb. 24 (BusinessDesk) - Chorus, the network operator spun out of Telecom in 2011, will clamp down on investing in its legacy copper lines to help drive some $400 million in savings over the next six years as it looks to fill a $1 billion funding hole ... More >>
Lombard receivers reach deal with ex-directors, 3rd party
Monday, 24 February 2014, 11:48 am | BusinessDesk
Feb. 24 (BusinessDesk) – The receivers of failed finance company Lombard Finance & Investments say they’ve reached a $10 million settlement with former directors, their insurers and a third party over civil claims of breach of duty. More >>
Freightways first-half profit rises 3%
Monday, 24 February 2014, 11:28 am | BusinessDesk
Feb. 24 (BusinessDesk) – Freightways said profit grew 3 percent in the first half as New Zealand’s largest listed courier and data management company lifted earnings in both its business units. More >>
Kiwibank 1H profit falls 10% on tight margins, capital spend
Monday, 24 February 2014, 10:44 am | BusinessDesk
Feb 24 (BusinessDesk) – Kiwibank, the biggest profit generator for state-owned parent New Zealand Post, said first-half profit fell 10 percent because of a squeeze on lending margins and infrastructure spending. More >>
NZ Posts lifts 1H profit 18% by slashing costs
Monday, 24 February 2014, 9:59 am | BusinessDesk
NZ Posts lifts first-half profit by 18 percent by slashing costs faster than sales fall More >>
SKY TV 1H profit rises 22% as programming costs fall
Monday, 24 February 2014, 9:57 am | BusinessDesk
SKY TV 1H profit rises 22% as programming costs fall, more subscribers switch to MY SKY service More >>
Chorus 1H profit falls 7.1%, won’t pay dividend
Monday, 24 February 2014, 9:32 am | BusinessDesk
Chorus 1H profit falls 7.1%, won’t pay dividend as auditor notes regulatory risks More >>
World Week Ahead: Eyes on Yellen
Monday, 24 February 2014, 9:00 am | BusinessDesk
Feb. 24 (BusinessDesk) – A key focus this week will be Federal Reserve Chairman Janet Yellen’s rescheduled testimony before the Senate Banking Committee on Thursday to gauge if the central bank expects to stay on course in its gradual reduction of ... More >>
