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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 1060]
Dairy product prices rise 0.2%; casein hits record
Wednesday, 18 December 2013, 7:17 am | BusinessDesk
Dec. 18 (BusinessDesk) – Dairy product prices held at elevated levels in the last GlobalDairyTrade auction for 2013, with rennet casein rising to its second straight record while whole milk powder fell. More >>
MARKET CLOSE: NZ shares fall; KIP drops after CBA placement
Tuesday, 17 December 2013, 6:00 pm | BusinessDesk
Dec. 17 (BusinessDesk) – New Zealand shares fell after Commonwealth Bank of Australia sold its stake in Kiwi Income Property Trust at a slight discount and SkyCity Entertainment Group said a high kiwi dollar is eroding the value of Australian sales. More >>
NZ dollar extends gain vs. A$ after RBA minutes
Tuesday, 17 December 2013, 5:29 pm | BusinessDesk
NZ dollar extends gain vs. A$ as RBA minutes, NZ govt forecasts show diverging economies More >>
NZ government sees economy on faster track
Tuesday, 17 December 2013, 1:06 pm | BusinessDesk
Dec. 17 (BusinessDesk) – The government raised its forecast track for economic growth versus the 2013 Budget, saying the Christchurch rebuild, an improving labour market, migrant inflows and booming export commodities will make up for weaker trading ... More >>
Treasury takes a knife to bond programme as finances improve
Tuesday, 17 December 2013, 1:05 pm | BusinessDesk
Dec. 17 (BusinessDesk) – Improving government finances mean the Treasury will issue $2 billion less in government bonds in the current financial year, will buy back up to $3 billion of bonds on issue, and will delay the launch of a new long-dated ... More >>
Govt to resume Super Fund contributions in 2019
Tuesday, 17 December 2013, 1:03 pm | BusinessDesk
Dec. 17 (BusinessDesk) – The improving economic outlook and higher forecast budget surpluses mean the government will start paying down national debt a year earlier than forecast, in 2016/17, allowing a return to government contributions to the New ... More >>
NZ govt sees wider deficit in 2014 on ACC levy cut
Tuesday, 17 December 2013, 1:02 pm | BusinessDesk
Dec. 17 (BusinessDesk) – The New Zealand government faces a wider operating deficit in the current financial year than previously predicted due to cuts to Accident Compensation Corp levies and smaller returns from state-owned enterprises, though its wafer-thin ... More >>
Chorus to avoid capital-raise for couple of years: Deutsche
Tuesday, 17 December 2013, 10:30 am | BusinessDesk
Dec. 17 (BusinessDesk) – Chorus is likely to delay any new capital-raising to help fund the ultra-fast broadband rollout until after the Commerce Commission completes its redetermination of copper network-based broadband pricing under an alternative ... More >>
SkyCity says 1H profit hurt by high kiwi
Tuesday, 17 December 2013, 9:30 am | BusinessDesk
Dec. 17 (BusinessDesk) – SkyCity Entertainment Group, New Zealand’s only listed casino company, said first-half profit will fall as a rise in the New Zealand dollar crimps returns from its Australian businesses. More >>
Commonwealth Bank sells Kiwi Income stake at 3.6% discount
Tuesday, 17 December 2013, 9:01 am | BusinessDesk
Dec. 17 (BusinessDesk) - Commonwealth Bank of Australia has sold out of Kiwi Income Property Trust at a 3.6 percent discount to where the units were trading just before yesterday’s placement, raising $92.2 million. More >>
ComCom to issue proceedings against ASB, ANZ, Westpac
Tuesday, 17 December 2013, 8:46 am | BusinessDesk
Dec. 17 (BusinessDesk) - The Commerce Commission intends to issue legal proceedings against three of the major Australian banks over their sale of interest rate swap contracts to farmers, which the regulator says may have breached the Fair Trading ... More >>
NZ dollar gains vs. Aussie ahead of NZ fiscal update, RBA
Tuesday, 17 December 2013, 8:45 am | BusinessDesk
NZ dollar touches fresh 5-year high vs. Aussie ahead of NZ fiscal update, RBA minutes More >>
While you were sleeping: Manufacturing lifts stocks
Tuesday, 17 December 2013, 7:42 am | BusinessDesk
Dec 17 (BusinessDesk) – Investors found value in equities on both sides of the Atlantic after the recent slide amid concern US Federal Reserve policy makers might start easing back their bond-buying program in a two-day meeting starting on Tuesday. More >>
MARKET CLOSE: NZ shares rise; SkyCity gains, Chorus falls
Monday, 16 December 2013, 6:10 pm | BusinessDesk
Dec. 16 (BusinessDesk) – New Zealand shares rose as investors were drawn to companies with a growth story, such as SkyCity Entertainment, while Chorus fell on disappointment a report on its funding issues hasn’t swayed the government. More >>
TUANZ calls for inquiry into Chorus share price movements
Monday, 16 December 2013, 6:04 pm | BusinessDesk
Dec. 16 (BusinessDesk) –NZX, the stock exchange operator, is declining comment on a claim by telecommunications lobbyists that there’s an emerging pattern of spikes in the Chorus share price ahead of the release of market-sensitive information ... More >>
NZ dollar gains vs. Australian dollar before RBA minutes
Monday, 16 December 2013, 5:17 pm | BusinessDesk
Dec. 16 (BusinessDesk) - The New Zealand dollar extended its rally against its trans-Tasman counterpart as the divergence between the neighbouring economies makes local interest rates more attractive, ahead of tomorrow’s release of minutes to the last Reserve ... More >>
Avatar deal part of long-term fix for local film sector
Monday, 16 December 2013, 4:44 pm | BusinessDesk
Dec. 16 (BusinessDesk) - A government deal that’s upped the rebate incentive scheme for big budget movie productions and secured the next three installments of James Cameron’s Avatar series is part of a longer-term solution for an industry at risk ... More >>
Ponzi schemer Ross to challenge 10 year, 10 month sentence
Monday, 16 December 2013, 3:53 pm | BusinessDesk
Dec. 16 (BusinessDesk) – Convicted Ponzi scheme perpetrator David Ross is to appeal against his sentence of 10 years and 10 months, claiming it is “manifestly excessive”. More >>
Govt sweetens film incentives, winning 3 more Avatar movies
Monday, 16 December 2013, 1:13 pm | BusinessDesk
Dec. 16 (BusinessDesk) – The government has sweetened its incentive scheme for blockbuster movies as a means to win over Lightsource Entertainment and Twentieth Century Fox Film Corp to make the next three instalments of the Avatar series in ... More >>
NZ Dollar Outlook: Kiwi in for a volatile ride
Monday, 16 December 2013, 12:38 pm | BusinessDesk
NZ Dollar Outlook: Kiwi in for a volatile ride as slew of data collides with Fed ahead of holidays More >>
