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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 1039]
NZ service sector activity keeps expanding in January
Monday, 17 February 2014, 11:10 am | BusinessDesk
Feb. 17 (BusinessDesk) - New Zealand services sector activity, which accounts for about two thirds of the economy, expanded for a ninth month in January, underpinned by a six-and-a-half year high in new orders. More >>
Property For Industry FY profit jumped 50% after merger
Monday, 17 February 2014, 10:47 am | BusinessDesk
Feb. 17 (BusinessDesk) – Property For Industry, which increased its portfolio by two thirds after a merger with Direct Property Fund last year, said annual profit rose 50 percent as it benefited from an increased rental flow while keeping expenses ... More >>
Fletcher to sell Pacific Steel for $120M to NZ Steel's owner
Monday, 17 February 2014, 10:35 am | 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 >>
Chorus puts up proposal for copper line pricing
Monday, 17 February 2014, 9:40 am | BusinessDesk
Feb. 17 (BusinessDesk) - Chorus, the telecommunications network operator spun out of Telecom in 2011, has put up an alternative proposal to the Commerce Commission on how its physical copper lines should be regulated in a bid to fast-track the process. More >>
World Week Ahead: Investors bet on economy
Monday, 17 February 2014, 9:05 am | BusinessDesk
Feb 17 (BusinessDesk) – Minutes from the latest US Federal Reserve meeting and corporate earnings from companies including Coca-Cola and Wal-Mart will be scrutinised for clues to justify the newfound confidence about the US economic outlook. In the ... More >>
NZ dollar rises touches month-high after weak US data
Monday, 17 February 2014, 8:44 am | BusinessDesk
Feb 17 (BusinessDesk) – The New Zealand dollar touched a month-high after a weaker economic report in the US dented demand for the greenback. More >>
MARKET CLOSE: NZ shares gain, on Vital Healthcare, SkyCity
Friday, 14 February 2014, 6:06 pm | BusinessDesk
Feb. 14 (BusinessDesk) – New Zealand stock rose as investors backed companies whose earnings didn’t disappoint. Vital Healthcare Property Trust led the index, paced by SkyCity Entertainment Group. Heartland New Zealand gained after announcing an ... More >>
SMELLIE SNIFFS THE BREEZE: She’ll Be Right still reigns
Friday, 14 February 2014, 5:46 pm | BusinessDesk
SMELLIE SNIFFS THE BREEZE: She’ll Be Right still reigns when it comes to IT More >>
NZ dollar holds gains after Chinese CPI as MPS looms
Friday, 14 February 2014, 5:36 pm | BusinessDesk
Feb. 14 (BusinessDesk) – The New Zealand dollar held its gains after Chinese inflation data came in near expectations and traders warmed to the kiwi’s fundamentals ahead of what’s expected to be an interest rate hike by the Reserve Bank next month. More >>
RESEND: Millennium and Copthorne profit declines
Friday, 14 February 2014, 5:12 pm | BusinessDesk
Feb. 14 (BusinessDesk) – Millennium & Copthorne Hotels New Zealand, which operates 22 hotels across the country, reported a 37 percent decline in 2013 profit, reflecting one-time earthquake related gains in the year earlier. More >>
Millennium & Copthorne profit falls, plans to raise $60M
Friday, 14 February 2014, 5:03 pm | BusinessDesk
Feb. 14 (BusinessDesk) – Millennium & Copthorne Hotels New Zealand, which operates 22 hotels across the country, reported a 37 percent decline in 2013 profit, reflecting one-time earthquake related gains in the year earlier. More >>
Pyne Gould completes relocation to Guernsey
Friday, 14 February 2014, 2:44 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Pyne Gould Corp, the asset management firm controlled by George Kerr, has completed its relocation from New Zealand to Guernsey. More >>
Heartland to buy ‘home equity release’ business for $87M
Friday, 14 February 2014, 1:08 pm | BusinessDesk
Feb 14 (BusinessDesk) – Heartland New Zealand, which gained a banking licence just over a year ago, has agreed to buy a ‘home equity release’ mortgage business from buyout firm Quadrant Private Equity for $87 million in cash and shares and plans ... More >>
Synlait bolsters testing of milk after Fonterra’s WPC scare
Friday, 14 February 2014, 1:02 pm | BusinessDesk
Feb. 14 (BusinessDesk) – Synlait Milk, the dairy processor which counts China’s Bright Dairy Food as a cornerstone shareholder, says costs for its planned expansion of its laboratory and administration will more than double as it allows for expansion ... More >>
Vital Healthcare posts 48% gain in 1H earnings
Friday, 14 February 2014, 11:58 am | BusinessDesk
Feb. 14 (BusinessDesk) – Vital Healthcare Property Trust, New Zealand’s largest listed medical and healthcare property investor, posted a 48 percent gain in first-half earnings as it gleaned extra income from acquisitions, new developments, rental increases ... More >>
Summerset gains consent for $55M New Plymouth village
Friday, 14 February 2014, 11:42 am | BusinessDesk
Feb. 14 (BusinessDesk) – Summerset Group Holdings, whose shares have made more than twice the NZX 50 Index’s gains in the past 12 months, said it gained resource consent to build a $55 million retirement village in New Plymouth. More >>
NZ property sales fall 4.3% in January, median price slips
Friday, 14 February 2014, 11:19 am | BusinessDesk
Feb. 14 (BusinessDesk) – New Zealand property sales fell 4.3 percent in January from a year earlier while the median price slipped from the record high set in December, which may reflect high loan-to-value lending restrictions and seasonal factors, the ... More >>
Dairy products dominate annual food price rises
Friday, 14 February 2014, 11:17 am | BusinessDesk
Dairy products dominate annual food price rises Feb. 14 (BusinessDesk) – Food prices rose 0.9 percent in the year to January, spurred by an 8.8 percent rise in the price of milk, 20 percent rise in butter prices, and a 4 percent increase for ... More >>
Bob Ingham delivers golden egg in final year of ownership
Friday, 14 February 2014, 10:47 am | BusinessDesk
Feb. 13 (BusinessDesk) – Bob Ingham, former owner of Australia’s biggest poultry producer Inghams Enterprises, achieved a record profit from his New Zealand operations in 2013, the final year before private equity firm TPG acquired the Australasian ... More >>
Michael Hill 1H earnings in line with guidance
Friday, 14 February 2014, 10:23 am | BusinessDesk
Feb. 14 (BusinessDesk) - Michael Hill International, the jewellery chain that bears the name of its founder, posted first-half earnings that met its guidance of last month after lifting sales while investing in a trial of bridal products at its North ... More >>
