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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 1063]
NZ dollar falls after Fonterra holds farmgate price
Wednesday, 11 December 2013, 5:12 pm | BusinessDesk
Dec. 11 (BusinessDesk) - The New Zealand dollar fell after dairy exporter Fonterra Cooperative Group surprised investors by keeping its forecast payout to farmers unchanged and as traders await the Reserve Bank’s policy statement, which is expected to ... More >>
Chorus warns of more earnings pain from latest review
Wednesday, 11 December 2013, 11:08 am | BusinessDesk
Dec. 11 (BusinessDesk) - Chorus faces another hit to its earnings as the regulator looks into the price of another component in the embattled telecommunications network operator’s copper lines. More >>
Restaurant Brands third quarter sales rise 5.4%
Wednesday, 11 December 2013, 11:06 am | BusinessDesk
Restaurant Brands third quarter sales rise 5.4%, buoyed by new Carl’s Jr burger chain More >>
Fonterra units sink back to issue price as dividend slashed
Wednesday, 11 December 2013, 10:59 am | BusinessDesk
Dec. 11 (BusinessDesk) – Fonterra Shareholders’ Fund units retreated to last year’s issue price after the dairy giant slashed its forecast dividend payments by two thirds and halved its earnings forecast, saying high milk powder prices haven’t ... More >>
Fonterra slashes dividend forecast, holds milk price
Wednesday, 11 December 2013, 9:41 am | BusinessDesk
Dec. 11 (BusinessDesk) – Fonterra Cooperative Group slashed its forecast 2014 dividend payment by two thirds, while keeping its targeted farmgate milk price at a record high, saying high milk powder prices haven’t been matched by cheese and casein. More >>
MRP to freeze energy price until April 2015
Wednesday, 11 December 2013, 9:25 am | BusinessDesk
Dec. 11 (BusinessDesk) - MightyRiverPower, the first state-owned power company to be partially privatised by the government this year, plans to keep the price it charges for electricity on hold until at least April 2015, but can’t guarantee transmission ... More >>
NZ dollar pares gains after Fonterra holds farmgate price
Wednesday, 11 December 2013, 9:21 am | BusinessDesk
Dec. 11 (BusinessDesk) – The New Zealand dollar pared gains after Fonterra Cooperative Group, the nation’s largest company, dashed expectations that it would increase its forecast payout to farmers today. More >>
While you were sleeping: Fed positioning stalls rally
Wednesday, 11 December 2013, 7:52 am | BusinessDesk
Dec 11 (BusinessDesk) – Stocks on both sides of the Atlantic fell, pushing the Standard & Poor’s 500 Index down from a record-high close, as investors positioned themselves ahead of next week’s US Federal Reserve meeting. More >>
MARKET CLOSE: NZ shares fall as Fonterra units cut to sell
Tuesday, 10 December 2013, 6:04 pm | BusinessDesk
MARKET CLOSE: NZ shares fall as Fonterra units cut to sell; Wynyard, tech stocks gain More >>
NZ dollar may gain as Chinese data, Fonterra forecast loom
Tuesday, 10 December 2013, 5:39 pm | BusinessDesk
Dec. 10 (BusinessDesk) - The New Zealand may gain with more Chinese economic data coming later today and amid expectations Fonterra Cooperative Group will announce a hike in its forecast payout to farmers tomorrow. More >>
FMA sees big gap between ‘big four’ auditors and the rest
Tuesday, 10 December 2013, 2:52 pm | BusinessDesk
Dec. 10 (BusinessDesk) - The Financial Markets Authority says there’s a big difference in quality between audit reports by the ‘big four’ accounting firms and their lower tier rivals, who will need to step up their game significantly to meet regulations ... More >>
Fonterra units cut to ‘sell’ at Craigs on cost squeeze
Tuesday, 10 December 2013, 2:49 pm | BusinessDesk
Dec. 10 (BusinessDesk) – Units of Fonterra Shareholders’ Fund were cut to ‘sell’ from ‘hold’ by brokerage Craigs Investment Partners because of the ongoing squeeze of rising raw material costs and weaker prices for value-added products such as casein ... More >>
UPDATE: Air nz expects 1H pre-tax earnings of $166.8 mln
Tuesday, 10 December 2013, 2:17 pm | BusinessDesk
UPDATE: Air New Zealand expects 1H pre-tax earnings of $166.8 mln, on target to exceed FY earnings More >>
Air New Zealand expects 1H pre-tax earnings to rise 20%
Tuesday, 10 December 2013, 1:54 pm | BusinessDesk
Air New Zealand expects 1H pre-tax earnings to rise 20%, on target to exceed FY earnings More >>
LVR tinkering shows RBNZ not immune to lobbying: NZIER
Tuesday, 10 December 2013, 1:20 pm | BusinessDesk
Dec. 10 (BusinessDesk) – The Reserve Bank’s exemption of new home building from low-equity mortgage limits, just two months after they were introduced, shows the central bank isn’t immune to lobbying and highlights the limitations of such policies, ... More >>
Wynyard shares jump 8.6% on Thai Customs contract
Tuesday, 10 December 2013, 12:05 pm | BusinessDesk
Dec. 10 (BusinessDesk) - Shares in Wynyard Group jumped 8.6 percent after the intelligence software developer grabbed its third new client in as many weeks, and building expectations the firm will deliver on its growth aspirations. More >>
NZ credit, debit card spending climbs 0.6% in November
Tuesday, 10 December 2013, 11:40 am | BusinessDesk
NZ credit, debit card spending climbs 0.6% in November, led by sales of consumables More >>
RBNZ exempts construction lending from LVR restrictions
Tuesday, 10 December 2013, 11:31 am | BusinessDesk
Dec. 10 (BusinessDesk) – The Reserve Bank has exempted loans for new home building from its restrictions on low-equity mortgages, saying such lending finances a greater share of construction activity than it had initially thought. More >>
Pyne Gould expects to sell remaining NZ assets next year
Tuesday, 10 December 2013, 9:46 am | BusinessDesk
Dec. 10 (BusinessDesk) - Pyne Gould Corp, the asset management firm controlled by George Kerr, expects to sell its remaining $4.8 million of assets still in New Zealand next year as it looks to quit this country and relocate to Guernsey. More >>
NZ dollar touches 5-year high against Australian dollar
Tuesday, 10 December 2013, 8:52 am | BusinessDesk
NZ dollar touches fresh 5-year high against Australian dollar ahead of business confidence report More >>
