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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 1066]
First NZ Capital stands in the market for Infratil buyback
Thursday, 5 December 2013, 9:25 am | BusinessDesk
First NZ Capital stands in the market for Infratil buyback at up to $2.60 a share More >>
NZ dollar hits new 5-yr high vs. A$ on interest rate paths
Thursday, 5 December 2013, 8:44 am | BusinessDesk
NZ dollar hits new 5-year high vs. Aussie on divergent future interest rate paths More >>
While you were sleeping: ADP jobs bolster Fed bets
Thursday, 5 December 2013, 7:41 am | BusinessDesk
Dec 5 (BusinessDesk) – Wall Street fell after stronger-than-expected US private jobs data raised concern the Federal Reserve might begin tapering its bond-buying program sooner than anticipated. More >>
MARKET CLOSE: NZ shares fall; Diligent tumbles
Wednesday, 4 December 2013, 5:56 pm | BusinessDesk
Dec. 4 (BusinessDesk) – New Zealand shares fell as investors punished Diligent Board Member Services for delaying its financial statements again and election-linked regulatory fears continued to weigh on power companies such as MightyRiverPower, ... More >>
NZ dollar touches new 5-year high vs. A$ on weak Aussie GDP
Wednesday, 4 December 2013, 5:17 pm | BusinessDesk
Dec. 4 (BusinessDesk) - The New Zealand dollar reached a fresh five-year high against its trans-Tasman counterpart after figures showed Australia’s economy grew less than expected in the third quarter. More >>
Bermuda-based Richina Pacific in provisional liquidation
Wednesday, 4 December 2013, 4:10 pm | BusinessDesk
Dec. 4 (BusinessDesk) - Richina Pacific, the parent of failed construction firm Mainzeal Property & Construction, is in provisional liquidation since quitting the NZX five years ago, and has handed over its financial statements to the Companies Registrar ... More >>
Diligent pushes out deadline for 1H results to Feb 28
Wednesday, 4 December 2013, 3:50 pm | BusinessDesk
Dec. 4 (BusinessDesk) - Diligent Board Member Services, the governance software developer, says it won’t meet a Dec. 12 deadline to release its first half results and now expects then to be as late as Feb. 28, when it is due to publish its full-year report. More >>
Godfrey Hirst pulls $50M dividend from profitable NZ unit
Wednesday, 4 December 2013, 3:20 pm | BusinessDesk
Dec. 4 (BusinessDesk) – Godfrey Hirst, which acquired failed carpet maker Feltex in 2006, has pulled a $50 million dividend from its New Zealand business while reporting annual sales growth and one-time gains from asset sales and purchases. More >>
Kiwibank board back in compliance after Gribben exit
Wednesday, 4 December 2013, 2:16 pm | BusinessDesk
Dec. 4 (BusinessDesk) - State-owned lender Kiwibank is back within the terms of its bank registration after the departure of New Zealand Post director Murray Gribben evened up the number of independent directors on the board. More >>
Auckland house sales fall in November: Barfoot
Wednesday, 4 December 2013, 12:13 pm | BusinessDesk
Dec. 4 (BusinessDesk) – Fewer Auckland houses are selling at auction, total sales were down 7.1 percent in November against October, and homes worth less than $500,000 are selling more slowly, says Auckland real estate agent Barfoot & Thompson. More >>
NZX cash trading volumes soar in November
Wednesday, 4 December 2013, 11:58 am | BusinessDesk
Dec. 4 (BusinessDesk) - NZX cash trading volumes soared in November, the 15th straight monthly gain, in a period that included the stock exchange’s biggest ever trading day accounting for almost a fifth of monthly turnover. The total number of trades ... More >>
MRP below $2 as English explains asset sales shortfall
Wednesday, 4 December 2013, 11:25 am | BusinessDesk
Dec. 4 (BusinessDesk) – Shares of partially privatised power company MightyRiverPower dropped below $2 for the first time since listing at $2.50 in May, as Finance Minister Bill English outlined reasons for cutting the government’s expected proceeds from ... More >>
Tenon shares surge as it seeks US equities market exposure
Wednesday, 4 December 2013, 10:39 am | BusinessDesk
Tenon shares surge as it seeks US equities market exposure, flags cash returns By Pattrick Smellie More >>
Govt hoping for $1B from partial sale of Genesis Energy
Wednesday, 4 December 2013, 9:53 am | BusinessDesk
Dec 4 (BusinessDesk) – The government is expecting to reap between $700 million and $1.1 billion from the sale next year of 49 percent of Genesis Energy, the only state-owned power company not to be partially privatised so far. More >>
Agria repays $5 million loan, interest owed to LIC
Wednesday, 4 December 2013, 9:40 am | BusinessDesk
Dec. 4 (BusinessDesk) - Livestock Improvement, the farmer-owned bull semen and dairy genetics company, said China’s Agria has made early repayment on the balance of a loan that allowed it to take control of PGG Wrightson. More >>
NZ dollar gains vs. greenback, Australian dollar
Wednesday, 4 December 2013, 9:22 am | BusinessDesk
Dec. 4 (BusinessDesk) – The New Zealand dollar gained against the greenback and the Australian dollar on signs prices of the nation’s commodities remain elevated and as traders anticipate US data for clues to the end of monetary stimulus. More >>
While you were sleeping: Wall Street jobs slump
Wednesday, 4 December 2013, 9:06 am | BusinessDesk
Dec 4 (BusinessDesk) – Wall Street fell as investors locked in some profits ahead of Friday’s US government jobs report which should provide fresh clues about when the Federal Reserve is likely to start reining in its bond-buying program More >>
While you were sleeping: Wall Street slumps before jobs
Wednesday, 4 December 2013, 7:49 am | BusinessDesk
Dec 3 (BusinessDesk) – Wall Street fell as investors locked in some profits ahead of Friday’s US government jobs report which should provide fresh clues about when the Federal Reserve is likely to start reining in its bond-buying program More >>
Dairy product prices post biggest gain in five months
Wednesday, 4 December 2013, 7:39 am | BusinessDesk
Dec. 4 (BusinessDesk) - Prices of dairy products staged the biggest gain in five months, pushing the average price to a two-month high, as rennet casein climbed to a record. More >>
MARKET CLOSE: NZ stocks fall; power companies under pressure
Tuesday, 3 December 2013, 5:57 pm | BusinessDesk
Dec. 3 (BusinessDesk) – New Zealand shares fell, paced by power companies MightyRiverPower, Contact Energy and Meridian Energy against a backdrop of an opposition party threat to control prices, broadly stagnant demand and a new Electricity Authority probe. More >>
