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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 1071]
Rio Tinto looks ready to close ageing Gove smelter
Tuesday, 26 November 2013, 11:08 am | BusinessDesk
Nov. 26 (BusinessDesk) – Global metals giant Rio Tinto looks likely to close its ageing aluminium smelter at Gove, in Australia’s Northern Territory, three months after cutting a deal to keep its Tiwai Point smelter in New Zealand open until at ... More >>
Energy Mad shares drop as further losses unveiled
Tuesday, 26 November 2013, 10:33 am | BusinessDesk
Nov. 26 (BusinessDesk) – Energy efficient lightbulb retailer Energy Mad has turned in another loss and has decided to write off a $2 million tax benefit, which would become available again if it were to be profitable and as long as at least 50 percent ... More >>
Bathurst expects first coal from Denniston in March
Tuesday, 26 November 2013, 10:04 am | BusinessDesk
Nov. 26 (BusinessDesk) – Coal miner Bathurst Resources expects to win first coal from its open-cast Escarpment mine on the Denniston Plateau in late March or early April next year, says managing director Hamish Bohannan. More >>
Tower full-year profit, swelled by assets sales, falls 38%
Tuesday, 26 November 2013, 9:31 am | BusinessDesk
Nov. 26 (BusinessDesk) – Tower, which sold its health, life, and investment units to become a pure general insurer, posted a 38 percent drop in full-year profit even as it booked a gain from the sales, as expenses growth ran ahead of revenue. More >>
NZ dollar rises to fresh 5-year high against Aussie dollar
Tuesday, 26 November 2013, 9:06 am | BusinessDesk
Nov 26 (BusinessDesk) – The New Zealand dollar rose to a fresh five-year high against the Australian dollar overnight on expectations the local economy will continue to outperform that of its closest neighbour. More >>
While you were sleeping: Fresh records for Dow, S&P
Tuesday, 26 November 2013, 7:48 am | BusinessDesk
Nov 26 (BusinessDesk) – Wall Street continued its climb towards fresh records before retracing part of those gains in the afternoon session as some investors appeared to suffer from vertigo. More >>
MARKET CLOSE NZ shares mixed on Metlifecare deal
Monday, 25 November 2013, 6:19 pm | BusinessDesk
Nov 25 (BusinessDesk) – New Zealand shares were mixed, with the NZX 50 Index falling though more stocks rose. Sky Network Television led decliners while Kathmandu led a bounce by some consumer companies and the sale of a stake in Metlifecare was concluded. More >>
Dairy NZ’s Spaans joins Fonterra board
Monday, 25 November 2013, 5:37 pm | BusinessDesk
Nov. 25 (BusinessDesk) – Michael Spaans, a Waikato dairy farmer and director of Dairy NZ, has been elected to the board of Fonterra, while long-serving director Malcolm Bailey retained his spot, as did former banker Ian Farrelly. More >>
NZ dollar hits 5-yr high vs. AUD
Monday, 25 November 2013, 5:06 pm | BusinessDesk
NZ dollar hits 5-yr high vs. AUD as growth revisions may paint rosier picture of local economy More >>
LWR’s Anderson jailed for 6 years for fraud
Monday, 25 November 2013, 3:57 pm | BusinessDesk
Nov. 25 (BusinessDesk) - Kenneth Anderson, a former director and owner of failed clothing maker Lane Walker Rudkin Industries, has been jailed for six years after pleading guilty to fraud. More >>
Fonterra executive Caldwell quits for ‘personal reasons’
Monday, 25 November 2013, 3:38 pm | BusinessDesk
Nov. 25 (BusinessDesk) - Fonterra Cooperative Group managing director of people, culture and services, Chris Caldwell, has left the job after just 18 months in the role, citing personal reasons. More >>
Hutson, Archer should use code route to chase Abano: NZSA
Monday, 25 November 2013, 2:07 pm | BusinessDesk
Nov. 25 (BusinessDesk) – Abano Healthcare shareholder Peter Hutson and his associated interests should use the procedures laid out in the Takeovers Code if they are to pursue the company to ensure all investors are treated equally, says the NZ Shareholders ... More >>
Sealegs posts wider first-half loss on margin squeeze
Monday, 25 November 2013, 1:50 pm | BusinessDesk
Nov. 25 (BusinessDesk) – Sealegs Corp posted a wider first-half loss as lower prices for its amphibious boats crimped margins. More >>
NZ Dollar Outlook: Kiwi may fall on US data
Monday, 25 November 2013, 12:36 pm | BusinessDesk
NZ Dollar Outlook: Kiwi may decline as stronger US economic data points to pull back in stimulus More >>
Scotland pays Infratil 1 pound for Glasgow Prestwick airport
Monday, 25 November 2013, 9:08 am | BusinessDesk
Nov. 25 (BusinessDesk) - Infratil, the Wellington-based infrastructure investor, has sold its unprofitable Glasgow Prestwick Airport to the Scottish government for 1 British pound. More >>
NZ dollar slips against euro as German confidence lifts
Monday, 25 November 2013, 9:00 am | BusinessDesk
Nov 25 (BusinessDesk) – The New Zealand dollar slipped against the euro, touching its lowest this month, after a report on Friday showing better than expected German business sentiment increased optimism about Europe’s largest economy. More >>
World Week Ahead: Data may help extend rally
Monday, 25 November 2013, 8:00 am | BusinessDesk
Nov. 25 (BusinessDesk) – The Wall Street party is poised to continue as investors head into a Thanksgiving-shortened week culminating in Black Friday which will show if the American consumer is confident enough of the outlook to spend big this holiday ... More >>
Bureaucrats fumble oil spill plan release
Sunday, 24 November 2013, 6:28 pm | BusinessDesk
Nov 24 (BusinessDesk) – Officials at Maritime New Zealand have spent the weekend scrambling to create a public version of Texan oil explorer Anadarko’s detailed plans to control a major oil spill at its drilling rig 150 kilometres off the North ... More >>
MARKET CLOSE NZ shares mixed as Warehouse, F&P Healthcare
Friday, 22 November 2013, 5:49 pm | BusinessDesk
MARKET CLOSE NZ shares mixed as Warehouse, F and P Healthcare fall, Air NZ gains More >>
MARKET CLOSE NZ shares mixed as Warehouse, F&P Healthcare
Friday, 22 November 2013, 5:49 pm | BusinessDesk
MARKET CLOSE NZ shares mixed as Warehouse, F and P Healthcare fall, Air NZ gains More >>
