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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 1043]
T&G confirms Apollo Apple talks as it plans for growth
Friday, 7 February 2014, 10:58 am | BusinessDesk
Feb. 7 (BusinessDesk) – Turners & Growers, the fruit marketer controlled by Germany’s BayWa Aktiengesellschaft, has confirmed acquisition discussions with Hawke’s Bay orchard and packaging company Apollo Apples as it announces its new ... More >>
Wool Equities, Primary Wool Coop still discusing merger
Friday, 7 February 2014, 9:48 am | BusinessDesk
Feb. 7 (BusinessDesk) – Wool Equities, which manufactures wool for its grower shareholders, and Primary Wool Cooperative, a farmer-owned joint venture with wool broker Elders, agreed to continue to progress talks about a possible merger to boost returns after ... More >>
ComCom kicks off UBA final pricing principle process
Friday, 7 February 2014, 9:34 am | BusinessDesk
Feb. 7 (BusinessDesk) - The Commerce Commission has outlined its proposed process to determine pricing for Chorus’s regulated copper network, and hopes to achieve a result by December when reduced prices are scheduled to kick in for the network ... More >>
NZ share trading activity climbs in January, value falls
Friday, 7 February 2014, 8:57 am | BusinessDesk
Feb. 7 (BusinessDesk) - The level of activity on the NZX grew for a 17th month in January, though the value of transactions was lower than the same month last year. More >>
NZ dollar rises to week-high as sentiment improves
Friday, 7 February 2014, 8:56 am | BusinessDesk
Feb. 7 (BusinessDesk) – The New Zealand dollar rose to a week high as sentiment improved, turning investor attention to riskier assets such as the kiwi. More >>
While you were sleeping: Walt Disney leaps
Friday, 7 February 2014, 7:39 am | BusinessDesk
Feb 7 (BusinessDesk) – Wall Street rallied as solid earnings reports including from Walt Disney and a larger-than-expected drop in weekly jobless claims provided reassurance that the world’s largest economy is firing on enough cylinders after ... More >>
While you were sleeping: US payrolls disappoint
Thursday, 6 February 2014, 7:36 am | BusinessDesk
Feb 6 (BusinessDesk) – Wall Street slipped as weaker-than-expected US payrolls data outweighed a better-than-expected report on services industries, and fuelled doubt about the strength of the American economic recovery. More >>
MARKET CLOSE: NZ shares halt slide, as earnings loom
Wednesday, 5 February 2014, 5:36 pm | BusinessDesk
Feb. 5 (BusinessDesk) – New Zealand shares rose today, as Asian markets lifted with positive earnings news and investors anticipated local earnings season to commence. OceanaGold, Diligent Board Members Services and Chorus all led the index higher. More >>
Kiwi gains vs. A$ as unemployment falls; US jobs data looms
Wednesday, 5 February 2014, 5:32 pm | BusinessDesk
Feb. 5 (BusinessDesk) - The New Zealand dollar recovered ground against its trans-Tasman counterpart after falling unemployment firmed up expectations for a rate hike by the local central bank, after the Reserve Bank of Australia yesterday scotched the ... More >>
Appeal Court upholds nixing of Krukziener-Hanover deal
Wednesday, 5 February 2014, 4:21 pm | BusinessDesk
Feb. 5 (BusinessDesk) - The Court of Appeal has ruled a $250,000 payment made by Andrew Krukziener as part of a 2009 deal with Hanover Finance was an insolvent transaction designed to sidestep the implications if the former property developer was bankrupted, ... More >>
S&P gives Chorus 3 months to stave off downgrade
Wednesday, 5 February 2014, 4:21 pm | BusinessDesk
Feb. 5 (BusinessDesk) – Credit rating agency Standard & Poor’s says Chorus must get its debt to below four times operating earnings to stave off a downgrade to its BBB credit rating. More >>
Tower's Stiassny takes swipe at IAG’s Lumley acquisition
Wednesday, 5 February 2014, 1:27 pm | BusinessDesk
Feb. 5 (BusinessDesk) - Tower chairman Michael Stiassny took a swipe at Australian rival Insurance Australia Group’s bid to buy Wesfarmers’ trans-Tasman underwriting businesses, saying the market dominance creates “significant risk.” More >>
NZ agribusiness get dedicated crowdfunding platform
Wednesday, 5 February 2014, 1:08 pm | BusinessDesk
Feb. 5 (BusinessDesk) – New Zealand agribusinesses looking for investors will be able to turn to crowdfunding once new legislation comes into effect in April. More >>
Auckland average house price falls in January, Barfoot says
Wednesday, 5 February 2014, 12:48 pm | BusinessDesk
Feb. 5 (BusinessDesk) – Auckland’s average house price slipped in January, reflecting a seasonal slowdown following the Christmas and New Year holiday period. More >>
Vodafone may grab Telecom customers as Sky TV deal ends
Wednesday, 5 February 2014, 12:08 pm | BusinessDesk
Vodafone likely to make grab for legacy TV customers as Telecom ends Sky TV deal More >>
Horse buyer Ellis blames IRD for bleeding bloodstock sales
Wednesday, 5 February 2014, 11:59 am | BusinessDesk
Feb. 5 (BusinessDesk) – David Ellis, the biggest spender at New Zealand’s premiere Karaka horse sales this year, says the tax department is stifling new investment in the bloodstock industry with its interpretation of depreciation rules. More >>
Public servants lagging private sector productivity
Wednesday, 5 February 2014, 11:43 am | BusinessDesk
Feb 5 (BusinessDesk) - Lower quality and higher costs have been experienced as a result of outsourcing, 44 percent of public service workers say in the latest New Zealand Productivity Pulse from accounting firm Ernst & Young. More >>
Power companies absorbing some cost increases, EA says
Wednesday, 5 February 2014, 11:35 am | BusinessDesk
Feb. 5 (BusinessDesk) – Electricity companies are absorbing nearly twice as much new cost as they’re passing on to their customers as the retail market for power becomes increasingly competitive, the industry’s regulator, the Electricity Authority, ... More >>
CORRECT: Apple NZ almost doubles FY profit, pays $3.9M tax
Wednesday, 5 February 2014, 10:56 am | BusinessDesk
Feb. 5 (BusinessDesk) - Apple Sales New Zealand, the local unit of the iPad and iPod maker, almost doubled annual profit on largely flat sales, while extracting a dividend that eclipsed earnings. More >>
NZ jobless rate falls to 3-year low 6% on jobs growth
Wednesday, 5 February 2014, 10:53 am | BusinessDesk
Feb. 5 (BusinessDesk) - New Zealand’s unemployment rate fell to a three-year low in the fourth quarter of 2013 as jobs growth beat expectations, led by gains in the retail, accommodation and hospitality sectors. More >>
