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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 1035]
NZ dollar little changed amid lack of economic data
Monday, 24 February 2014, 8:56 am | BusinessDesk
Feb. 24 (BusinessDesk) – The New Zealand dollar was little changed as no new data surprised currency markets over the weekend. More >>
MARKET CLOSE: NZ shares gain on Fletcher’s Oz outlook
Friday, 21 February 2014, 5:34 pm | BusinessDesk
Feb. 21 (BusinessDesk) – New Zealand stocks rose, paced by Fletcher Building whose first-half result yesterday showed potential for growth in Australia. The market responded positively to Vector’s earnings which showed growth in its technology ... More >>
NZ dollar heads for 0.8% weekly fall
Friday, 21 February 2014, 5:07 pm | BusinessDesk
NZ dollar heads for 0.8% weekly fall as local rates story, Fed policy weigh More >>
APN shares soar after institutions stump up A$112M in capita
Friday, 21 February 2014, 3:29 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Shares in APN News & Media surged to an 18-month high when they resumed trading after institutions put up A$112 million in a planned capital raising for the media group to buy out its partner to take control of its radio businesses. More >>
Telecom faces big bill as it tip-toes into content with TV
Friday, 21 February 2014, 1:53 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Telecom Corp’s attempt to step out from its legacy business and embrace a new digital future isn’t expected to come cheap, according to a fund manager. More >>
IAG gains in NZ, confident of approval for Wesfarmer’s buy
Friday, 21 February 2014, 1:23 pm | BusinessDesk
Feb. 20 (BusinessDesk) – Insurance Australia Group, New Zealand’s largest general insurer, reported a 75 percent gain in its kiwi operations for the first-half, as the company expects to finalise the purchase of Wesfarmers’ insurance underwriting ... More >>
Repayment to investors in Hubbard's Aorangi reaches 92%
Friday, 21 February 2014, 12:48 pm | BusinessDesk
Feb. 21 (BusinessDesk) – Repayments to investors in Aorangi Securities, one of the failed vehicles in the stable formerly run by Timaru businessman Allan Hubbard, have climbed to 92 cents in the dollar, say the statutory managers, Grant Thornton. More >>
UPDATED: NZX posts 22% rise in FY profit on strong markets
Friday, 21 February 2014, 12:13 pm | BusinessDesk
Feb. 21 (BusinessDesk) - NZX, New Zealand’s stock exchange operator, posted a 22 percent rise in annual profit as strong activity in capital markets offset a weaker performance from its Agri division. More >>
OceanaGold reports FY loss of US$47.9M on further writedowns
Friday, 21 February 2014, 11:03 am | BusinessDesk
Feb. 21 (BusinessDesk) – OceanaGold Corp, the Melbourne-based mining group, reported a net loss of US$47.9 million for calendar 2013, as the company wrote down its New Zealand assets in the face of a declining gold price, offsetting a 44 percent gain ... More >>
NZX posts 22% rise in FY profit on strong market activity
Friday, 21 February 2014, 10:22 am | BusinessDesk
NZX posts 22 percent rise in annual profit as strong activity in capital markets offsets weaker Agri unit More >>
Faltering tax take hits government 1H accounts
Friday, 21 February 2014, 10:07 am | BusinessDesk
Feb. 21 (BusinessDesk) - The New Zealand government’s operating deficit was wider than expected in the first half of the 2014 financial year, with a smaller than forecast tax take across the board confusing officials as to whether this was a temporary ... More >>
Vector raises interim dividend despite 1H earnings drop
Friday, 21 February 2014, 9:40 am | BusinessDesk
Feb. 21 (BusinessDesk) – Auckland electricity, gas and telecommunications network owner Vector saw net profit after tax fall 11.4 percent to $104.6 million in the six months to Dec. 31, reflecting the impact of price cuts ordered by the Commerce ... More >>
Telecom signals foray into internet TV under new brand
Friday, 21 February 2014, 9:27 am | BusinessDesk
Telecom signals foray into internet TV under new brand, 1H profit edges up 2.5% More >>
NZ dollar advances as risk sentiment improves
Friday, 21 February 2014, 8:41 am | BusinessDesk
Feb. 21 (BusinessDesk) – The New Zealand dollar advanced as risk sentiment improved, turning investors’ attention to high risk assets such as equities and the local currency. More >>
While you were sleeping: US manufacturing accelerates
Friday, 21 February 2014, 7:52 am | BusinessDesk
Feb 21 (BusinessDesk) – Wall Street rose after a gauge of US manufacturing climbed to the highest level in nearly four years, easing concern that weakness in recent data meant the recovery in the world’s largest economy was losing steam. More >>
MARKET CLOSE: NZ shares fall as earnings dominate
Thursday, 20 February 2014, 5:46 pm | BusinessDesk
Feb. 20 (BusinessDesk) – New Zealand stocks fell after Fletcher Building and Nuplex Industries posted earnings disappointed investors. Trade Me Group rebounded after dropping in the wake of its results yesterday. More >>
NZ dollar drops after weak Chinese manufacturing figures
Thursday, 20 February 2014, 5:05 pm | BusinessDesk
Feb. 20 (BusinessDesk) - The New Zealand dollar dropped in local trading after weaker-than expected Chinese manufacturing figures raised concern about the strength of the regional economy, and after minutes to the Federal Reserve’s last policy meeting were more ... More >>
Regulator says supermarket probe to take a number of months
Thursday, 20 February 2014, 4:34 pm | BusinessDesk
Feb. 20 (BusinessDesk) - The Commerce Commission has confirmed it is formally investigating allegations of anti-competitive behaviour towards suppliers by Woolworths-owned Countdown, and expects the probe will take “a number of months.” More >>
Opus expands Australian unit with A$1.7 mln acquisition
Thursday, 20 February 2014, 3:35 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Opus International Consultants, the engineering firm with one of four mandates to lead design the Christchurch rebuild, has expanded its Australian business buying Bowdens Group Australia for A$1.7 million. More >>
AMP New Zealand unit posts 11% gain in 2013 earnings
Thursday, 20 February 2014, 2:17 pm | BusinessDesk
Feb. 20 (BusinessDesk) – AMP’s New Zealand financial services unit reported an 11 percent gain in underlying operating profit in 2013 as it cut costs, reduced losses from life insurance payouts and improved its general insurance margins. More >>
