Scoop has an Ethical Paywall
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 1041]
Stars align for NZ foresters as ‘wall of wood’ comes on
Wednesday, 12 February 2014, 12:19 pm | BusinessDesk
Stars align for NZ foresters as ‘wall of wood’ comes on stream, prices reach record highs More >>
NZ spending on credit, debit cards falls in January
Wednesday, 12 February 2014, 11:43 am | BusinessDesk
Feb. 12 (BusinessDesk) - New Zealanders spent less on their credit and debit cards in January, snapping three months of gains, with apparel showing the sharpest decline. More >>
UPDATED: SkyCity posts lower 1H profit as expected
Wednesday, 12 February 2014, 11:37 am | BusinessDesk
Feb. 12 (BusinessDesk) - SkyCity Entertainment Group, New Zealand's only listed casino company, posted lower first half profit in line with guidance and said earnings will grow in all its businesses in the second half. More >>
ASB drives first-half earnings growth for CBA’s NZ units
Wednesday, 12 February 2014, 11:29 am | BusinessDesk
Feb. 12 (BusinessDesk) - ASB Bank drove growth in first-half earnings for Commonwealth Bank of Australia’s New Zealand businesses, with wider interest margins and gains in home loans, offsetting deteriorating claims at its Sovereign insurance unit. More >>
Chorus amends broadband connections, growth trimmed to 1%
Wednesday, 12 February 2014, 10:24 am | BusinessDesk
Feb. 12 (BusinessDesk) – Chorus, the telecommunications operator spun out of Telecom in 2011, has revised its broadband connection numbers for the third quarter, reporting a 1 percent rise rather than a 2 percent gain earlier reported. More >>
APN exits brandsExclusive after writing down goodwill
Wednesday, 12 February 2014, 10:13 am | BusinessDesk
Feb. 12 (BusinessDesk) - APN News & Media, the Australian publisher of the New Zealand Herald newspaper, agreed to sell its unprofitable brandsExclusive online shopping site, having slashed the value of goodwill on a business acquired in 2012. More >>
Genesis 1H earnings slide 23% on weak demand, prices
Wednesday, 12 February 2014, 9:50 am | BusinessDesk
Feb. 12 (BusinessDesk) - Genesis Energy, the state-owned power company slated for partial privatisation this year, reported a 23 percent drop in first-half operating earnings, reflecting stiff retail competition and a warm winter, which meant hydro-storage ... More >>
SkyCity posts lower first-half profit, sees 2H pickup
Wednesday, 12 February 2014, 9:34 am | BusinessDesk
Feb. 12 (BusinessDesk) – SkyCity Entertainment Group, New Zealand’s only listed casino company, posted lower first half profit in line with guidance and said earnings will grow in all its businesses in the second half. More >>
NZ dollar rises to 2-week high vs. yen on risk appetite
Wednesday, 12 February 2014, 8:44 am | BusinessDesk
Feb. 12 (BusinessDesk) – The New Zealand dollar touched a two-week high against the yen today as investor concerns about emerging markets abated and after a key address by new Federal Reserve chair Janet Yellen failed to ruffle markets. More >>
While you were sleeping: Yellen lifts equities
Wednesday, 12 February 2014, 7:41 am | BusinessDesk
Feb 12 (BusinessDesk) – Stocks on both sides of the Atlantic gained as Janet Yellen, the US Federal Reserve’s new chairman, signalled continuity in the central bank’s policy and optimism about the US economic outlook. More >>
MARKET CLOSE: NZ shares gain on upbeat Australian figures
Tuesday, 11 February 2014, 6:03 pm | BusinessDesk
Feb. 11 (BusinessDesk) – New Zealand stocks rose as earnings growth from Australia & New Zealand Banking Group and signs of an improving Australian economy lifted sentiment on companies doing business across the Tasman, such as Fletcher Building ... More >>
NZ dollar falls vs. A$ after upbeat Aust figures
Tuesday, 11 February 2014, 5:25 pm | BusinessDesk
Feb. 11 (BusinessDesk) – The New Zealand dollar weakened against the Australian dollar as improved business confidence and signs of a pickup in housing reduced the prospects of interest rates cuts across the Tasman. More >>
Lombard sentences part of effort to protect investors: Crown
Tuesday, 11 February 2014, 4:44 pm | BusinessDesk
Feb. 11 (BusinessDesk) - Tougher sentences handed out to former directors of Lombard Finance & Investments were part of a regime to protect investors, and a major factor in underlying the seriousness of the case, according to the Crown. More >>
Law change undermines deterrence of Lombard sentence: lawyer
Tuesday, 11 February 2014, 2:02 pm | BusinessDesk
Feb. 11 (BusinessDesk) - Sweeping changes to securities law have undermined the deterrence effect of the custodial sentences handed out to former directors of Lombard Finance & Investments, which should be reduced back to original levels, the Supreme Court ... More >>
ANZ Bank posts 13 percent gain in first-quarter cash profit
Tuesday, 11 February 2014, 11:56 am | BusinessDesk
ANZ Bank posts 13 percent gain in first-quarter cash profit on reduced impairments, higher lending More >>
NZ bank fees class action on fees adds Westpac, BNZ, ASB
Tuesday, 11 February 2014, 11:01 am | BusinessDesk
Feb. 11 (BusinessDesk) – A class action lawsuit claiming banks charge unfair penalty fees has added Westpac Banking Corp., Bank of New Zealand and ASB Bank to its existing suit against Kiwibank and ANZ Bank New Zealand. More >>
Power report ducks question of fair prices, Bertram says
Tuesday, 11 February 2014, 10:42 am | BusinessDesk
Feb. 11 (BusinessDesk) – Taking electricity company asset values back to 1999 levels, as proposed by the Labour and Green parties, would allow consumers to be charged “fair” prices for electricity, says industry reform critic and Victoria University ... More >>
Bank bailouts erode public support for markets, King says
Tuesday, 11 February 2014, 10:11 am | BusinessDesk
Feb. 11 (BusinessDesk) – Public support for market economies has been placed at risk by governments bailing out the global banking system when other businesses have been persuaded to accept commercial failure, says former governor of the Bank of ... More >>
NZ dollar weakens against Aussie before confidence survey
Tuesday, 11 February 2014, 8:44 am | BusinessDesk
Feb. 11 (BusinessDesk) – The New Zealand dollar weakened against the Australian dollar ahead of reports today which may show the Australian economy is picking up pace. More >>
While you were sleeping: Focus on Yellen
Tuesday, 11 February 2014, 7:38 am | BusinessDesk
Feb 11 (BusinessDesk) – Wall Street began the week lower as investors awaited Tuesday’s testimony of the US Federal Reserve’s new chairman, Janet Yellen, to gauge the central bank’s take on the recent weakness in employment data and the overall outlook ... More >>
