BusinessDesk

While you were sleeping: Deciphering Fed speak

Tuesday, 10 December 2013, 7:53 am | BusinessDesk

Dec 10 (BusinessDesk) – Wall Street rose amid optimism that accelerating economic growth will outweigh any pullback in the US Federal Reserve’s bond-buying program. More >>

MARKET CLOSE: NZ shares rise as Telecom sells AAPT

Monday, 9 December 2013, 5:54 pm | BusinessDesk

Dec. 9 (BusinessDesk) – New Zealand shares rose after Telecom announced the sale of its AAPT unit in Australia at a higher price than expected and Contact Energy led gains among power companies beaten up by fears of a Labour-Greens government ... More >>

NZ dollar holds gains after upbeat Chinese trade data

Monday, 9 December 2013, 5:07 pm | BusinessDesk

Dec. 9 (BusinessDesk) - The New Zealand dollar held gains in local trading after figures on the weekend showed China lifted exports by more than expected last month, and after strong US jobs growth on Friday undershot optimistic forecasts by some ... More >>

EPA wrongly gave Anadarko duty to Maritime NZ: Greenpeace

Monday, 9 December 2013, 1:18 pm | BusinessDesk

Dec. 9 (BusinessDesk) - The Environmental Protection Agency wrongly delegating responsibility for assessing the environmental impact of an oil spill when it gave an exploration permit to Texan oil company Anadarko, counsel for Greenpeace New Zealand told the ... More >>

NZ property values rise at 9.2% annual pace in November: QV

Monday, 9 December 2013, 1:09 pm | BusinessDesk

Dec. 9 (BusinessDesk) – New Zealand property values rose at a 9.2 percent annual pace in November, and continue to be driven by a shortage of houses in Auckland and Christchurch, although there appears to be some slowdown in buyer interest, according ... More >>

NZ Dollar Outlook: Kiwi may rise as greenback unloved

Dec. 9 (BusinessDesk) – The New Zealand dollar may rise this week as sentiment turns against the US dollar even as data shows the world’s largest economy is improving. More >>

CORRECT: Telecom sells AAPT for A$450M to TPG Telecom

Monday, 9 December 2013, 11:38 am | BusinessDesk

Dec. 9 (BusinessDesk) - Telecom Corp, the country’s biggest telecommunications company, has sold its Australian AAPT unit for A$450 million to ASX-listed internet service provider, TPG Telecom, beating initial expectations of what the unit would ... More >>

Bennetts Group buys assets of Jasons Travel Media

Monday, 9 December 2013, 10:03 am | BusinessDesk

Dec. 9 (BusinessDesk) – Bennetts Group, the family-owned tertiary textbook company, has acquired the assets of Jasons Travel Media from the receivers for an undisclosed sum. More >>

Freightways buys two document shredding firms firms for $13M

Monday, 9 December 2013, 9:26 am | BusinessDesk

Dec. 9 (BusinessDesk) - Freightways, New Zealand’s largest listed courier and data management company, has bought two document shredding firms, one on either side of the Tasman, for an aggregate $13 million. More >>

Utilico trims stake in Infratil to 11.8%

Monday, 9 December 2013, 9:15 am | BusinessDesk

Dec. 9 (BusinessDesk) - Utilico Investments, a UK investor managed by Infratil director Duncan Saville’s ICM, has reduced its stake in Infratil after participating in the Wellington-based company’s buyback and selling shares on market. More >>

NZ dollar rises after US employment data

Monday, 9 December 2013, 9:14 am | BusinessDesk

Dec. 9 (BusinessDesk) – The New Zealand dollar jumped1 US cent from local trading on Friday after key US employment data failed to meet the expectations of some short-term traders who had bet the data would print even higher. More >>

Last OCR review for 2013 to keep rate at 2.5%

Monday, 9 December 2013, 8:52 am | BusinessDesk

Last OCR review for 2013 to keep rate at 2.5%, link timing of moves to exchange rate, housing More >>

Telecom sells AAPT for A$450M to TPG Telecom

Monday, 9 December 2013, 8:52 am | BusinessDesk

Dec. 9 (BusinessDesk) - Telecom Corp, the country’s biggest telecommunications company, sold its Australian AAPT unit for A$450 million to ASX-listed internet service provider, TPG Telecom, beating initial expectations of what the unit would go for. More >>

World Week Ahead: Fed guessing continues

Monday, 9 December 2013, 7:44 am | BusinessDesk

Dec. 9 (BusinessDesk) – Investors will have to make it through another week of the “will they, won’t they taper this month”-guessing game before US Federal Reserve policymakers next meet on December 17-18. More >>

MARKET CLOSE: NZX50 falls to two-month low as Chorus drops

Friday, 6 December 2013, 5:38 pm | BusinessDesk

Dec. 6 (BusinessDesk) – New Zealand shares fell, dragging the benchmark NZX50 to a two-month low, as investors cut their holdings in Chorus and other stocks that may face regulatory risk. More >>

NZ dollar heads for 1.4 percent weekly gain vs. Aussie

Friday, 6 December 2013, 5:08 pm | BusinessDesk

NZ dollar heads for 1.4 percent weekly gain vs. A$ on divergent economies; US jobs data loom More >>

FMA almost done in settlement with Strategic Finance

Friday, 6 December 2013, 4:16 pm | BusinessDesk

Dec. 6 (BusinessDesk) - The Financial Markets Authority has effectively completed a confidential settlement with the former directors of failed lender Strategic Finance, while the firm’s receiver has filed proceedings against auditor BDO Spicers. More >>

NZ ETS to restrict Kyoto Protocol units from 2015

Friday, 6 December 2013, 2:04 pm | BusinessDesk

Dec. 6 (BusinessDesk) - New Zealand’s emissions trading scheme won’t be able to trade certain international Kyoto units after 2015, due to the government’s decision restricting access to those markets after the stalled climate change negotiations. More >>

Supreme Court tosses out Gull appeal over $23M butane blend

Friday, 6 December 2013, 1:58 pm | BusinessDesk

Dec. 6 (BusinessDesk) - The Supreme Court has turned down an appeal by cut-price petrol retailer Gull seeking to overturn a decision that would see it pay higher excise duty on its locally blended butane/motor spirit mix. More >>

Bank of New York Mellon trims holding in embattled Chorus

Friday, 6 December 2013, 11:03 am | BusinessDesk

Dec. 6 (BusinessDesk) - Bank of New York Mellon Corp, which has US$1.5 trillion of assets under management, has reduced its holding in Chorus after the telecommunications network company said it would be hurt by the regulator’s decision to lower the ... More >>