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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 1068]
UDC Finance boosts annual profit 13% as recovery gains steam
Monday, 2 December 2013, 10:43 am | BusinessDesk
Dec. 2 (BusinessDesk) - UDC Finance, the finance company owned by ANZ Bank New Zealand, boosted annual profit 13 percent on improved margins and growing exposure to the primary sector. More >>
MRP faces $15M bill to fix geothermal steam-corroded turbine
Monday, 2 December 2013, 10:40 am | BusinessDesk
Dec. 2 (BusinessDesk) – MightyRiverPower is shutting down its largest geothermal power station, the 140 Megawatt Nga Awa Purua installation, to perform temporary repairs after finding geothermal fluids have damaged the three-year-old unit. More >>
Rangatira 1H profit soars on asset sales
Monday, 2 December 2013, 9:21 am | BusinessDesk
Dec. 2 (BusinessDesk) - Rangatira, which bought a cornerstone stake in beer company Tuatara Brewing this year, reported a tenfold surge in first-half profit after selling its stake in engineering service firm Contract Resources and its direct holding in ... More >>
GPG says UK pension decision won't be done by Xmas
Monday, 2 December 2013, 9:20 am | BusinessDesk
Dec. 2 (BusinessDesk) - Guinness Peat Group, which has exited more than 50 investments to focus on UK threadmaker Coats, said the UK’s Pensions Regulator won’t meet a Dec. 31 target to decide on whether to issue a warning notice over its pension ... More >>
NZ dollar rises against euro after higher European inflation
Monday, 2 December 2013, 8:51 am | BusinessDesk
Dec. 2 (BusinessDesk) – The New Zealand dollar rose against the euro after higher European inflation dented expectations that the European Central Bank may have to ease monetary conditions further to stimulate growth. More >>
World Week Ahead: US payrolls, manufacturing data loom
Monday, 2 December 2013, 7:46 am | BusinessDesk
Dec. 2 (BusinessDesk) - Trading desks will be back to full staff this week after the Thanksgiving break in the US and investors are expected to be in a mood to buy -- at least that’s what traders are hoping. More >>
MARKET CLOSE: NZ shares slide amid regulation concerns
Friday, 29 November 2013, 5:31 pm | BusinessDesk
Nov. 29 (BusinessDesk) –New Zealand shares fell, led by telecommunications network operator Chorus, as investors become wary that increased regulation heading in to an election year may crimp earnings. More >>
NZ dollar heads of 1.2% weekly drop
Friday, 29 November 2013, 5:26 pm | BusinessDesk
Nov. 29 (BusinessDesk) - The New Zealand dollar is heading for a 1.2 percent fall this week as investors pare back their bets on high-risk assets, after chasing yield since September when it looked like the US Federal Reserve was reluctant to wind ... More >>
Fonterra spends another A$14.7 mln to lift Bega stake
Friday, 29 November 2013, 5:02 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, spent another A$14.7 million to lift its stake in Australian dairy company Bega Cheese this week, paying a premium to do so. More >>
Pengxin farms post operating loss due to drought
Friday, 29 November 2013, 3:37 pm | BusinessDesk
Nov. 29 (BusinessDesk) - The former Crafar family farms controversially bought by China’s Shanghai Pengxin last year reported an operating loss in their first year of new ownership due to the widespread drought last summer. More >>
Italy’s Barilla pasta family pays $25M for Leferink farm
Friday, 29 November 2013, 3:15 pm | BusinessDesk
Nov. 29 (BusinessDesk) – Italy’s Barilla family, founders of the world’s largest pasta company, have paid $25 million to buy a South Island dairy farm from Federated Farmers dairy chairman Willy Leferink and his wife Jeanet. More >>
BNZ sets aside $50M to help iwi get their Treaty settlements
Friday, 29 November 2013, 3:12 pm | BusinessDesk
Nov. 29 (BusinessDesk) – The Bank of New Zealand is angling for a bigger slice of burgeoning Maori economic activity, establishing a $50 million fund to bridge financial gaps that can delay the payment of Treaty of Waitangi settlement funds ... More >>
ASX issues ‘please explain’ notice to Chorus
Friday, 29 November 2013, 2:55 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Embattled telecommunications network operator Chorus has pointed to speculation and political comment about regulated pricing for its copper network in a ‘please explain’ notice from the Australian Securities Exchange ... More >>
Let local authorities decide on GM-free status: new poll
Friday, 29 November 2013, 1:20 pm | BusinessDesk
Nov. 29 (BusinessDesk) – New Zealanders overwhelmingly reject government plans to override the ability of local authorities to declare regions free of genetically modified crops, according to research by pollsters Colman Brunton for the Pure Hawkes ... More >>
Methven cautiously optimistic about second half performance
Friday, 29 November 2013, 12:06 pm | BusinessDesk
Nov 29 (BusinessDesk) – Methven, the tapware maker, confirmed a 21 percent rise in first half earnings and said it was “cautiously optimistic” about the remainder of the year. More >>
NZ home building consents fall 0.6 percent in October
Friday, 29 November 2013, 11:42 am | BusinessDesk
NZ home building consents fall 0.6 percent in Oct in first month of loan restrictions More >>
Unemployment to hit 4% by 2021, says MBIE
Friday, 29 November 2013, 11:19 am | BusinessDesk
Nov. 29 (BusinessDesk) – Job growth and higher retirement rates over the next eight years are predicted to push unemployment as low as 4 percent by 2021, says new forecasts from the Ministry of Business, Innovation and Employment. More >>
Chorus shares plunge to new low on latest UFB news
Friday, 29 November 2013, 11:03 am | BusinessDesk
Nov. 29 (BusinessDesk) - Shares in Chorus dropped to a new low after the government found itself unable to use legislative approaches to intervene in the price the telecommunications network operator charges for access to its copper lines. More >>
Jasons Travel Media asks bank to appoint receiver
Friday, 29 November 2013, 10:08 am | BusinessDesk
Nov. 29 (BusinessDesk) - NZAX-listed Jasons Travel Media, the travel and accommodation guide publisher once led by Cabinet Minister Steven Joyce, has told its lenders to appoint a receiver as the company’s financial position deteriorates with little ... More >>
Regulator reshapes Orion’s quake cost clawback pricing
Friday, 29 November 2013, 9:39 am | BusinessDesk
Nov. 29 (BusinessDesk) - The Commerce Commission has trimmed planned price hikes sought next year by Orion New Zealand to allow the Christchurch electricity lines company to recover earthquake rebuilding costs, but has eased up on subsequent increases ... More >>
