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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 1065]
NZ govt operating deficit smaller than forecast
Friday, 6 December 2013, 10:44 am | BusinessDesk
Dec. 6 (BusinessDesk) - The New Zealand government posted a smaller operating deficit than expected in the first four months of the financial year as it reported a bigger personal tax take and reaped more from customs duties on imported tobacco. More >>
Chatham Rock granted mining permit, still needs EPA approval
Friday, 6 December 2013, 10:43 am | BusinessDesk
Dec. 6 (BusinessDesk) - Chatham Rock Phosphate has been granted a 20-year mining permit to extract phosphate nodules from an 820 square kilometre area of the Chatham Rise, the first key step in its approvals to strip the sea floor of the fertiliser ... More >>
Regulator seeks industry views on Chorus UCLL price
Friday, 6 December 2013, 9:42 am | BusinessDesk
Dec. 6 (BusinessDesk) – The Commerce Commission is consulting with the telecommunications industry over what price Chorus can charge rivals to access its copper telephone lines, suggesting a review process could be accelerated and the final price backdated. More >>
RBNZ commitment to inflation target crucial for guidance
Friday, 6 December 2013, 9:13 am | BusinessDesk
Dec. 6 (BusinessDesk) - The Reserve Bank’s inflation target is crucial if it wants the private sector to believe its projected interest rate path, and means the monetary authority needs consistent communications, deputy governor Geoff Bascand says. More >>
NZ dollar slips vs. euro after ECB moves to neutral
Friday, 6 December 2013, 8:41 am | BusinessDesk
NZ dollar slips to four-day low against euro after ECB moves to neutral stance More >>
While you were sleeping: Strong US GDP, jobs
Friday, 6 December 2013, 7:45 am | BusinessDesk
Dec 6 (BusinessDesk) – US stocks and bonds fell after reports showing the American economy grew faster than initially estimated during the third quarter, while weekly jobless claims unexpectedly dropped, putting investors on notice the Federal Reserve ... More >>
NZ dollar holds near 5-year high vs. Australian dollar
Thursday, 5 December 2013, 5:40 pm | BusinessDesk
Dec. 5 (BusinessDesk) - The New Zealand dollar held near a five-year high against its trans-Tasman counterpart as the likely divergent interest rate paths of the two economies continued to fuel demand for the kiwi. More >>
MARKET CLOSE: NZX 50 falls to 2-month low, Infratil drops
Thursday, 5 December 2013, 5:38 pm | BusinessDesk
Dec. 5 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 index to a two-month low, as Infratil dropped in the wake of its buyback, Chorus suffered from the uncertainty around regulated price cuts, and Meridian Energy and MightyRiverPower ... More >>
Wellington Electricity settles with regulator over pricing
Thursday, 5 December 2013, 4:48 pm | BusinessDesk
Dec. 5 (BusinessDesk) - Wellington Electricity Lines, the capital city’s electricity lines company owned by Hong Kong billionaire Li Ka-shing's Cheung Kong Infrastructure Holdings, has reached an out-of-court settlement with the Commerce Commission over ... More >>
Indicative bids on Transpacific Industries’ NZ unit closing
Thursday, 5 December 2013, 4:44 pm | BusinessDesk
Dec. 5 (BusinessDesk) - Potential buyers of the New Zealand unit of Australian waste manager Transpacific Industries have until the end of the day to make their interest known, with indicative bids closing. More >>
Delegat’s sees 10% lift in 2014 profit
Thursday, 5 December 2013, 3:13 pm | BusinessDesk
Delegat’s sees 10% lift in 2014 profit, warns strong currency may hit bottom line More >>
Infratil on-market buyback completed at $2.38 a share
Thursday, 5 December 2013, 3:01 pm | BusinessDesk
Dec. 5 (BusinessDesk) – Infratil completed its on-market buyback at $2.38 a share, or a total of $59 million. More >>
Forest owners easier target on safety lapses in new regime
Thursday, 5 December 2013, 2:45 pm | BusinessDesk
Forest owners easier target on health, safety lapses under new regime, MBIE’s Smol says More >>
SkyCity earnings to get kicker from Adelaide in 2007: Craigs
Thursday, 5 December 2013, 2:39 pm | BusinessDesk
Dec. 5 (BusinessDesk) – SkyCity Entertainment Group, New Zealand’s only listed casino operator, faces a “benign earnings outlook” until the benefits show through from the redevelopment of its Adelaide casino complex in the 2017 financial year, ... More >>
SFO passes on bulk of complaints, not worried about budget
Thursday, 5 December 2013, 1:38 pm | BusinessDesk
SFO passes on more than 90% of complaints, says function isn’t compromised by lean budget More >>
Postie Plus plans to sell SchoolTex unit for $9 million
Thursday, 5 December 2013, 12:31 pm | BusinessDesk
Postie Plus plans to sell SchoolTex unit for $9 million to reduce debt, invest in core business More >>
Taxpayers may be called on for more help in completing UFB
Thursday, 5 December 2013, 11:51 am | BusinessDesk
Dec. 5 (BusinessDesk) – Completing the national ultra-fast broadband network rollout could yet require more taxpayer funding, despite Communications Minister Amy Adams’s insistence there should be a deal possible to get the project back on track within ... More >>
Norway's Statoil takes stake in NZ exploration territory
Thursday, 5 December 2013, 10:56 am | BusinessDesk
Dec. 5 (BusinessDesk) - Government efforts to entice major global oil and gas producers to New Zealand has borne fruit, with Norway’s state-owned Statoil and Australian heavyweight Woodside Petroleum winning exploration licences in the latest permit ... More >>
UPDATE: Chorus engages with CFH on risk to fibre contract
Thursday, 5 December 2013, 10:49 am | BusinessDesk
Dec. 5 (BusinessDesk) – Shares in Chorus rose after the telecommunications network operator said it will work as quickly as possible to avoid failing its contractual obligations to build the bulk of the country’s broadband network if regulated price ... More >>
Chorus won’t meet UFB contract if copper prices cut: Adams
Thursday, 5 December 2013, 9:27 am | BusinessDesk
Dec. 5 (BusinessDesk) - Telecommunications network operator Chorus won’t meet its contractual obligations to build the bulk of the country’s broadband network if regulated cuts to the wholesale price it charges on its ageing copper lines go ahead, ... More >>
