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BusinessDesk - Latest News [Page 1061]

IAG to buy Wesfarmers NZ, Austr underwriting for A$1.85B

Monday, 16 December 2013, 12:34 pm | BusinessDesk

Dec. 16 (BusinessDesk) – Insurance Australia Group has agreed to buy the New Zealand and Australian underwriting businesses of Wesfarmers for A$1.85 billion, to bolster its position in the two markets. More >>

NZ wins commitment for 3 Avatar movies

Monday, 16 December 2013, 12:09 pm | BusinessDesk

Dec. 16 (BusinessDesk) – The government has won commitment from Lightsource Entertainment and Twentieth century Fox Film Corp to make three Avatar movies in New Zealand after signing an accord that would give the movie companies access ton increased production ... More >>

No gap between by 4 auditors and rest, says NZICA

Monday, 16 December 2013, 11:10 am | BusinessDesk

Dec. 16 (BusinessDesk) - Any gap in quality between the ‘big four’ four audit firms and their smaller rivals is perception rather than reality, according to the New Zealand Institute of Chartered Accountants, which says the industry is in line ... More >>

NZ services sector activity slips in Nov, still elevated

Monday, 16 December 2013, 11:08 am | BusinessDesk

Dec. 16 (BusinessDesk) – New Zealand services sector activity slipped from a six-year high in November, while remaining at an elevated level, adding to other recent evidence that momentum in the economy is picking up pace. More >>

Argosy sells under-performing Ellerslie property

Monday, 16 December 2013, 10:43 am | BusinessDesk

Dec. 16 (BusinessDesk) - Argosy Property, the fourth-biggest listed property investor by market value, has sold an underperforming office building in Auckland’s Ellerslie for $10.4 million. More >>

CBA to sell down Kiwi Income stake after selling management

Monday, 16 December 2013, 10:26 am | BusinessDesk

Dec. 16 (BusinessDesk) - Commonwealth Bank of Australia, the biggest lender by market value across the Tasman, plans to sell down its 8.6 percent stake in Kiwi Income Property Trust after ceding the management contract for $70.5 million. More >>

NZ consumer confidence rises to 4-year high as kiwis happier

Monday, 16 December 2013, 10:21 am | BusinessDesk

Dec. 16 (BusinessDesk) – New Zealand consumer confidence rose to its highest level in about four years in the fourth quarter as kiwis turned positive about their own finances and more optimistic their own circumstances will improve in the year ahead. More >>

Chorus cost-saving options include worse service

Monday, 16 December 2013, 9:05 am | BusinessDesk

Dec. 16 (BusinessDesk) – Cost-saving options for embattled telecommunications infrastructure provider Chorus include allowing the quality of its service to drop by under-investing in maintenance and upgrades on its existing copper-wire networks, says the report ... More >>

NZ dollar gains vs. pound as UK recovery slows

Monday, 16 December 2013, 8:56 am | BusinessDesk

Dec. 16 (BusinessDesk) – The New Zealand dollar touched a week high against the British pound on the expectation positive economic data may have peaked in the UK, indicating the pace of recovery has slowed. More >>

World Week Ahead: It’s all about the Fed

Monday, 16 December 2013, 8:54 am | BusinessDesk

Dec. 16 (BusinessDesk) – All eyes are firmly fixed on US Federal Reserve policymakers as they gather for their final meeting of 2013 during which some believe they will decide to start scaling back their US$85 billion a month bond-buying program. More >>

MARKET CLOSE: NZ shares mixed as Chorus rebounds

Friday, 13 December 2013, 5:38 pm | BusinessDesk

Dec. 13 (BusinessDesk) - New Zealand shares were mixed in pre-Christmas trading as network operator Chorus continued its rebound and clothing chain Hallenstein Glasson Holdings closed at a two-year low after warning that earnings were under threat from ... More >>

NZ dollar heads for 1.2 percent weekly gain vs. Aussie

Friday, 13 December 2013, 5:09 pm | BusinessDesk

NZ dollar heads for 1.2 percent weekly gain vs. Aussie as interest rates diverge More >>

Infratil seeks up to $100 mln in new five-year bond issue

Friday, 13 December 2013, 4:17 pm | BusinessDesk

Dec. 13 (BusinessDesk) - Infratil, which this month bought back $59 million of its shares, wants to raise up to $100 million from a five-year bond, a day after the Reserve Bank signalled interest rates are set to start rising next year at a faster ... More >>

Wool Equities, Primary Wool Coop in tie-up talks

Friday, 13 December 2013, 1:43 pm | BusinessDesk

Dec. 13 (BusinessDesk) – Wool Equities, which manufactures wool for its grower shareholders, and Primary Wool Cooperative, a farmer-owned joint venture with wool broker Elders, are in talks about merging to boost returns as they eye the success ... More >>

NZ consumer confidence near four-year high

Friday, 13 December 2013, 1:29 pm | BusinessDesk

Dec. 13 (BusinessDesk) - New Zealand consumer confidence was near a four-year high in the lead-up to the Christmas season, an all-important period for retailers. More >>

Chorus shares rally on Milford and ACC backing

Friday, 13 December 2013, 11:31 am | BusinessDesk

Dec. 13 (BusinessDesk) - Shares in Chorus climbed 8 percent in early trading after Milford Asset Management yesterday said the regulatory uncertainty hanging over the network operator was fully priced in, and the investment arm of the Accident Compensation ... More >>