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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 1036]
Port of Tauranga sees Auckland claw back shipping
Thursday, 20 February 2014, 2:02 pm | BusinessDesk
Feb. 20 (BusinessDesk) – Port of Tauranga, New Zealand’s largest port operator, posted a decline in container volumes in the first-half as rival Ports of Auckland won back business lost during its strikes and dairy volumes declined. The drop-off ... More >>
NZ consumer confidence slips from 7-year high
Thursday, 20 February 2014, 1:43 pm | BusinessDesk
Feb. 20 (BusinessDesk) – New Zealand consumer confidence fell from its highest level in seven years this month, while remaining elevated, amid a pickup in inflation expectations and the prospect of interest rate increases. More >>
Patchy Aussie leaves NZ and cost control to drive Fletcher
Thursday, 20 February 2014, 1:16 pm | BusinessDesk
Feb. 20 (BusinessDesk) – Fletcher Building says the outlook in Australia is uncertain after a strong kiwi dollar exacerbated a drop in first-half earnings across the Tasman, leaving New Zealand and the company’s cost-cutting programme as key profit drivers. More >>
CORRECT: Tenon forecasts first cash return in a decade
Thursday, 20 February 2014, 12:30 pm | BusinessDesk
Feb 20 (BusinessDesk) – Wood mouldings manufacturer Tenon expects to resume cash returns to shareholders in the second half of the current financial year after achieving a long-sought end to years of losses. More >>
Oil industry lobby head to be CEO of NZ Energy Corp
Thursday, 20 February 2014, 12:25 pm | BusinessDesk
Feb. 20 (BusinessDesk) – The oil and gas industry has lost its chief lobbyist, David Robinson, who is leaving to become the local chief executive of Vancouver-based New Zealand Energy Corp. More >>
NZ producers’ prices fall in 4Q on lower electrity demand
Thursday, 20 February 2014, 11:53 am | BusinessDesk
Feb. 20 (BusinessDesk) – New Zealand producers’ input and output prices fell in the fourth quarter, driven by lower electricity prices as demand softened during warmer summer weather and lake levels remained high. More >>
Fairfax NZ first-half earnings hold up even as revenue slips
Thursday, 20 February 2014, 11:42 am | BusinessDesk
Feb. 20 (BusinessDesk) - Fairfax Media Group’s New Zealand unit, which includes the Dominion Post, Press and Sunday Star Times newspapers, kept its first-half earnings reasonably flat as recent cost-cutting measures offset weaker circulation revenues. More >>
Tenon forecasts first cash returns in a decade
Thursday, 20 February 2014, 11:41 am | BusinessDesk
Feb 20 (BusinessDesk) – Wood mouldings manufacturer Tenon expects to resume cash returns to shareholders in the second half of the current financial year after achieving a long-sought end to years of losses. More >>
Port of Tauranga lifts 1H operating earnings on bulk freight
Thursday, 20 February 2014, 11:21 am | BusinessDesk
Feb. 20 (BusinessDesk) – Port of Tauranga, New Zealand’s largest port operator, lifted first-half operating earnings by 11 percent as an increase in bulk freight made up for a drop in container volumes. The company affirmed its guidance for the ... More >>
Nuplex posts flat 1H profit, warns on full year earnings
Thursday, 20 February 2014, 10:33 am | BusinessDesk
Nuplex posts flat 1H profit, warns full year earnings will be at lower end of range as ANZ weighs More >>
Fletcher 1H profit gain held to 5% by strong kiwi
Thursday, 20 February 2014, 10:28 am | BusinessDesk
Feb. 20 (BusinessDesk) – Fletcher Building, the biggest company on the NZX 50 Index, posted a 5 percent gain in first-half profit as sales growth was constrained by a high kiwi dollar. Fletcher affirmed its guidance for the full year. More >>
Skellerup lifts 1H profit 14% as restructuring benefits show
Thursday, 20 February 2014, 10:27 am | BusinessDesk
Feb. 20 (BusinessDesk) - Skellerup Holdings, the industrial rubber goods maker, lifted first-half earnings by 14 percent as it reaped the benefits of restructuring measures. The company hiked its expectations for annual profit and the shares gained. More >>
Auckland Airport lifts 1H profit 12%, ups FY forecast
Thursday, 20 February 2014, 9:54 am | BusinessDesk
Feb. 20 (BusinessDesk) - Auckland International Airport, the country’s main gateway, boosted first-half profit 12 percent as new routes and increased capacity stoked passenger activity, and the hub is now expecting bigger annual earnings as a result. More >>
Xero cracks quarter-million customers
Thursday, 20 February 2014, 9:17 am | BusinessDesk
Feb. 20 (BusinessDesk) - Xero, the cloud accounting software developer, reached a quarter of a million customers at the end of January, almost doubling its paying clients from the same time a year ago. More >>
Home-building, Christchurch lift Steel & Tube 1H profit 10%
Thursday, 20 February 2014, 9:15 am | BusinessDesk
Feb. 20 (BusinessDesk) – Steel products manufacturer Steel & Tube lifted earnings 10 percent in the six months to Dec. 31, turning in a tax-paid net profit of $8 million on a 6 percent lift in sales to $211.7 million. More >>
Airwork on track to meet FY target after 1H profit slips 18%
Thursday, 20 February 2014, 8:59 am | BusinessDesk
Airwork on track to meet FY target after 1H profit slips 18% on IPO costs, interest rate swaps More >>
NZ dollar falls as Fed minutes show some favour rate hikes
Thursday, 20 February 2014, 8:49 am | BusinessDesk
Feb. 20 (BusinessDesk) – The New Zealand dollar weakened after the Federal Reserve minutes of its January meeting showed some officials raised the possibility of rate rises “relatively soon”. More >>
Kirkcaldie to recapitalise retail unit once property sold
Thursday, 20 February 2014, 8:07 am | BusinessDesk
Feb. 20 (BusinessDesk) - Kirkcaldie & Stain’s, Wellington’s up-market department store, says it will recapitalise the ailing retail business after the sale of its inner-city office tower before returning any surplus to shareholders. More >>
Kiwi businesses report less fraud, more procurement cons
Thursday, 20 February 2014, 8:03 am | BusinessDesk
Feb. 20 (BusinessDesk) – One in three New Zealand businesses have been victims of fraudsters, according to a global survey, down from 49.5 percent in 2011, although procurement related fraud is on the rise, reflecting the rebuild of Christchurch ... More >>
While you were sleeping: US housing, IMF warning
Thursday, 20 February 2014, 7:46 am | BusinessDesk
Feb 20 (BusinessDesk) – Wall Street fell, erasing earlier gains, amid signs of weakness in the US housing industry and a warning from the International Monetary Fund about the risks to the pace of the global economic recovery. More >>
