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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.

Contact BusinessDesk

Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 1038]

NZ dollar falls vs. A$ after RBA gets happier with currency

Tuesday, 18 February 2014, 5:53 pm | BusinessDesk

Feb. 18 (BusinessDesk) - The New Zealand dollar fell against its trans-Tasman counterpart after minutes to this month's Reserve Bank of Australia meeting showed the regulator was more comfortable with the level of the nation's currency. More >>

Fletcher stock upgraded by First NZ on NZ, Aust building

Tuesday, 18 February 2014, 4:10 pm | BusinessDesk

Feb. 18 (BusinessDesk) – Fletcher Building, the biggest company on the NZX 50 Index, was upgraded by First NZ Capital because of a pickup in the building sector in Australia and New Zealand and the benefits of its cost cutting programme. More >>

Changing face in Christchurch as rebuild continues

Tuesday, 18 February 2014, 3:31 pm | BusinessDesk

Feb. 18 (BusinessDesk) –Construction has overtaken manufacturing as the dominant industry in the greater-Christchurch region, and population growth has lagged behind the national average, according to last year’s census. More >>

Tale of two cities at Precinct: Auckland up, Wellington lags

Tuesday, 18 February 2014, 2:22 pm | BusinessDesk

Feb. 18 (BusinessDesk) – Precinct Properties New Zealand, formerly known as AMP NZ Office, boosted half-year profit by 67 percent as rising returns from Auckland office towers made up for stalled growth in Wellington. More >>

Lines companies stifling power company innovation: Contact

Tuesday, 18 February 2014, 2:14 pm | BusinessDesk

Feb. 18 (BusinessDesk) – The biggest barrier to electricity retailers introducing new, more competitive products is the complexity created by 29 separate monopolies owning the country’s electricity networks and all charging for them differently, ... More >>

Auckland property developer Mayer sentenced to 6 years' jail

Tuesday, 18 February 2014, 11:10 am | BusinessDesk

Feb. 18 (BusinessDesk) – Bankrupt Auckland property developer Malcolm Mayer was today sentenced in the Auckland District Court to six years’ prison for orchestrating a $47 million mortgage fraud. More >>

Sky TV mulls $100 mln retail bond offer

Tuesday, 18 February 2014, 10:09 am | BusinessDesk

Feb. 18 (BusinessDesk) - Sky Network Television, the country’s dominant pay-TV operator, is mulling a retail bond offer to raise up to $100 million. More >>

Contact 1H earnings rise on improved industrial sales

Tuesday, 18 February 2014, 9:48 am | BusinessDesk

Feb. 18 (BusinessDesk) – Contact Energy reported a 5 percent improvement in underlying earnings for the six months to Dec. 31, with improved sales to industrial and commercial customers and lower wholesale electricity prices offsetting lower mass market sales ... More >>

CORRECT: While you were sleeping: European stocks advance

Tuesday, 18 February 2014, 9:33 am | BusinessDesk

Feb 18 (BusinessDesk) – European stocks climbed as Chinese credit data provided reason for optimism about the outlook for the world’s second-largest economy. More >>

F&P Healthcare raises annual profit guidance for 2nd time

Tuesday, 18 February 2014, 9:31 am | BusinessDesk

F&P Healthcare raises annual profit guidance for 2nd time, citing increased demand, better margins More >>

NZ dollar drifts lower in thin overnight trading

Tuesday, 18 February 2014, 8:52 am | BusinessDesk

Feb 18 (BusinessDesk) – The New Zealand dollar drifted lower overnight in thin trading as US markets were closed for a public holiday. More >>

While you were sleeping: European stocks advance

Tuesday, 18 February 2014, 7:41 am | BusinessDesk

Feb 18 (BusinessDesk) – European stocks climbed as Chinese credit data provided reason for optimism about the outlook for the world’s second-largest economy. More >>

MARKET CLOSE: NZ shares rise, Hallenstein leads retailers up

Monday, 17 February 2014, 5:51 pm | BusinessDesk

Feb. 17 (BusinessDesk) – New Zealand stocks rose, paced by Hallenstein Glasson Holdings as retail figures showed there was some growth in the sector and as investors focus on earnings season, which peaks this week. More >>

NZ dollar little changed as US manufacturing mulled

Monday, 17 February 2014, 5:17 pm | BusinessDesk

Feb. 17 (BusinessDesk) - The New Zealand dollar was little changed after weaker than expected consumer spending figures failed to spook investors wary of the greenback after soft US manufacturing data last week. More >>

Nakedbus’ advertising tactics deemed 'misleading'

Monday, 17 February 2014, 4:53 pm | BusinessDesk

Feb. 17 (BusinessDesk) – Nakedbus, which challenged InterCity Group’s near monopoly on national bus routes when it started in 2006, has been found guilty of trademark breach after aping its rival’s name to lure customers through Google’s advertising ... More >>

Millennium and Copthorne seeks $112M in preference issue

Monday, 17 February 2014, 4:12 pm | BusinessDesk

Millennium and Copthorne seeks $112M in preference share issue for Chinese venture, to repay debt More >>

CORRECT: Fletcher to sell Pacific Steel to Bluescope

Monday, 17 February 2014, 2:58 pm | BusinessDesk

Feb. 17 (BusinessDesk) – BlueScope Steel, Australia’s largest steelmaker and owner of the New Zealand Steel mill, has agreed to buy assets of Fletcher Building’s Pacific Steel in a $120 million deal that will lead to the closure of Fletcher’s ... More >>