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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 1062]
While you were sleeping: Strong US retail sales
Friday, 13 December 2013, 7:42 am | BusinessDesk
Dec 13 (BusinessDesk) – Wall Street continued its slide even after American retail sales rose more than expected as the data fuelled talk that the US Federal Reserve will soon begin to taper its monthly bond-buying program. More >>
MARKET CLOSE: NZ shares mixed; Hallenstein nervous on sales
Thursday, 12 December 2013, 6:04 pm | BusinessDesk
Dec. 12 (BusinessDesk) – New Zealand shares were mixed as network operator Chorus extended its rebound from a record low and clothing chain Hallenstein Glasson Holdings said it may have to cut guidance. More >>
Slingshot pleads guilty, fined $250K for slamming tactics
Thursday, 12 December 2013, 5:55 pm | BusinessDesk
Dec. 12 (BusinessDesk) – Slingshot, the telecommunications and broadband provider, has been fined $250,000 after pleading guilty to forcing customers unwittingly to take its service and then aggressively pursuing them for payment and referring some ... More >>
NZ dollar jumps to 5-year high vs. A$ as RBNZ more hawkish
Thursday, 12 December 2013, 5:18 pm | BusinessDesk
NZ dollar jumps to new 5-year high vs. A$ as RBNZ more hawkish on rate hikes More >>
Windflow seeks another $4M
Thursday, 12 December 2013, 5:17 pm | BusinessDesk
Dec. 12 (BusinessDesk) – Profitless wind energy firm Windflow Technology is going back to shareholders for another $4 million as it continues to seek sales in the UK and develops a new version of its pioneering two-bladed wind turbine for lower ... More >>
Export concentration into China ‘a concern’: RBNZ’s Wheeler
Thursday, 12 December 2013, 3:38 pm | BusinessDesk
Dec. 12 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has reservations about New Zealand’s increasing concentration of exports into China, which now dominates foreign purchases of local agricultural products. More >>
Perpetual, Fonterra’s largest unitholder, supports strategy
Thursday, 12 December 2013, 2:40 pm | BusinessDesk
Perpetual, Fonterra’s largest unitholder, happy to ride out short-term pain for longer-term gains More >>
Love Springs, director Phillip Smart fined $555,000
Thursday, 12 December 2013, 12:36 pm | BusinessDesk
Love Springs, director Phillip Smart fined $555,000 for using toxic water claims to sell filters More >>
Hallenstein may have to lower guidance if sales don’t lift
Thursday, 12 December 2013, 12:30 pm | BusinessDesk
Dec. 12 (BusinessDesk) - Hallenstein Glasson Holdings, the clothing chain, may have to cut its profit guidance further if sales don’t improve in the summer season, chairman Warren Bell says. More >>
NZ food prices fall 0.2% in November; lamb leads meat lower
Thursday, 12 December 2013, 12:14 pm | BusinessDesk
NZ food prices fall 0.2% in November; lamb leads meat lower, fruit, veges drop More >>
Trade Me buys MotorWeb site for $19.5M to expand auto offer
Thursday, 12 December 2013, 10:41 am | BusinessDesk
Dec. 12 (BusinessDesk) – Trade Me, the auction website, agreed to acquire MotorWeb for $19.5 million in cash to deepen its motor vehicle offering by adding a business forecast to lift earnings in 2014. More >>
UPDATED: Wheeler gives clear signal OCR is set to rise
Thursday, 12 December 2013, 10:05 am | BusinessDesk
Dec. 12 (BusinessDesk) – Reserve Bank governor Graeme Wheeler says “considerable momentum” in the New Zealand economy means record low interest rates are no longer appropriate in the face of inflation pressures that are “projected to increase.” More >>
Vector loses key elements of Commerce Commission challenge
Thursday, 12 December 2013, 9:50 am | BusinessDesk
Dec 12 (BusinessDesk) – An attempt led by Auckland monopoly network Vector to overturn the way the Commerce Commission sets prices for its services has failed in almost all respects, following a merits review challenge to the High Court. More >>
Stronger terms of trade could drive interest rates up: RBNZ
Thursday, 12 December 2013, 9:15 am | BusinessDesk
Dec. 12 (BusinessDesk) - Strong commodity prices, particularly for dairy products, could drive up interest rates more than currently expected if they continue to keep the terms of trade at elevated levels, the Reserve Bank says. More >>
RBNZ sees strong house price inflation lasting longer
Thursday, 12 December 2013, 9:09 am | BusinessDesk
Dec. 12 (BusinessDesk) - The Reserve Bank expects the country’s strong house price inflation to persist for longer than it previously thought as low interest rates, rising net migration and a supply shortage continue to drive the market. More >>
Wheeler keeps OCR at 2.5%, ready to hike 'as needed'
Thursday, 12 December 2013, 9:07 am | BusinessDesk
Dec. 12 (BusinessDesk) – Reserve Bank governor Graeme Wheeler kept the official cash rate at a record-low 2.5 percent, while lifting the projected path for interest rates and saying he’s ready to start hiking “as needed” to keep inflation under ... More >>
NZ dollar falls ahead of Reserve Bank interest rate decision
Thursday, 12 December 2013, 8:27 am | BusinessDesk
Dec 12 (BusinessDesk) – The New Zealand dollar declined ahead of the Reserve Bank decision on interest rates today where investors will be eyeing signals for when hikes may start next year. More >>
While you were sleeping: Wall Street slides
Thursday, 12 December 2013, 7:51 am | BusinessDesk
Dec 12 (BusinessDesk) – Wall Street sank as a bipartisan US budget deal removed one of the obstacles the Federal Reserve had previously identified as key to a decision on when to begin tapering its monthly bond-buying program. More >>
MARKET CLOSE: NZ shares slip on Fonterra dividend cut
Wednesday, 11 December 2013, 5:57 pm | BusinessDesk
Dec. 11 (BusinessDesk) – New Zealand shares fell after Fonterra Cooperative Group unexpectedly cut its forecast dividends and earnings for 2014, while the high kiwi against the Australian dollar weighed on companies such as Ebos Group with businesses ... More >>
Synlait Milk flags faster growth in 2014
Wednesday, 11 December 2013, 5:23 pm | BusinessDesk
Dec. 11 (BusinessDesk) - Synlait Milk, the milk processor which joined the NZX in July, says earnings will beat guidance next year on cheaper raw milk prices and growing demand for its products. That contrasts with Fonterra Cooperative Group, which today ... More >>
