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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 1072]
Unisys in whopper IRD contact worth up to $130mln
Friday, 22 November 2013, 5:28 pm | BusinessDesk
Nov. 22 (BusinessDesk) - Unisys New Zealand, the global information technology group, stands to earn as much as $130 million from its eight-year contract to supply mainframe services to the Inland Revenue Department. More >>
NZ dollar heads for 1.6 percent weekly fall
Friday, 22 November 2013, 5:12 pm | BusinessDesk
Nov. 22 (BusinessDesk) - The New Zealand dollar is heading for a 1.6 percent drop against the greenback this week as world markets drift in the absence of news on the US Federal Reserve’s intentions for its US$85 billion a month money-printing ... More >>
Independent News to raise 43 mln euro to protect APN stake
Friday, 22 November 2013, 3:44 pm | BusinessDesk
Nov. 22 (BusinessDesk) - Ireland’s Independent News & Media is seeking 43 million euros of fresh capital from new and existing investors as it works through the final phases of a multi-year debt restructuring plan to protect its cornerstone stake in ... More >>
Second spectrum auction favours Vodafone: 2degrees director
Friday, 22 November 2013, 2:59 pm | BusinessDesk
Nov. 22 (BusinessDesk) – Vodafone is favoured by the government’s decision to press on with the second 4G mobile spectrum auction in two months to dispose of the two “pairs” of 700 Megahertz spectrum in last month’s bidding round, says newly ... More >>
CORRECT: Warehouse warns on lower 1H earnings
Friday, 22 November 2013, 2:41 pm | BusinessDesk
(Fixes spelling of Graham Evans’ name in 2nd graph, updates share price in 6th graph) More >>
Goodman Fielder facing up to A$10 mln hit from dearer milk
Friday, 22 November 2013, 1:04 pm | BusinessDesk
Nov. 22 (BusinessDesk) - Goodman Fielder, the food ingredients maker, expects its New Zealand dairy business to trim as much as A$10 million from its annual earnings due to rapidly rising milk prices and anticipates its 2014 profits will largely come ... More >>
More savings will drive down dollar, McDermott says
Friday, 22 November 2013, 12:28 pm | BusinessDesk
Nov. 22 (BusinessDesk) - Reserve Bank assistant governor John McDermott says lifting the country’s savings rate will help reduce New Zealand’s reliance on foreign funding and ultimately drive down an over-valued kiwi dollar. More >>
NZ net migration tops another decade-high in October
Friday, 22 November 2013, 11:23 am | BusinessDesk
Nov. 22 (BusinessDesk) - New Zealand’s inbound net migration notched up another decade-high monthly gain in October as the exodus to Australia continued to slow. More >>
Margin squeeze, investments to trim Warehouse first half
Friday, 22 November 2013, 10:22 am | BusinessDesk
Nov. 22 (BusinessDesk) - Warehouse Group, the country’s biggest listed retailer, expects lower first-half earnings as margins at its flagship Red Sheds come under pressure and it spends more on adjusting to a new competitive environment. More >>
F&P Healthcare lifts 1H profit to record, keeps FY forecast
Friday, 22 November 2013, 9:53 am | BusinessDesk
Nov. 22 (BusinessDesk) - Fisher & Paykel Healthcare, which makes breathing masks and respirators, boosted first-half profit 34 percent to a record, reporting growth in both its major product lines, and affirmed its expectations for more annual earnings ... More >>
NZ dollar extends slide as RBA’s Stevens mulls intervention
Friday, 22 November 2013, 8:49 am | BusinessDesk
Nov. 22 (BusinessDesk) - The New Zealand dollar extended its declined after Reserve Bank of Australia governor Glenn Stevens said he was “open-minded” on intervening in currency markets if the conditions were right to try and take the steam out of ... More >>
While you were sleeping: Jobless claims lift Wall Street
Friday, 22 November 2013, 7:50 am | BusinessDesk
Nov 22 (BusinessDesk) – Wall Street rose amid better-than-expected jobs data, with investors looking to the signs of recovery in the US economy as a positive for corporate profits. More >>
MARKET CLOSE: NZ shares drop as Fed move mulled
Thursday, 21 November 2013, 6:02 pm | BusinessDesk
Nov. 21 (BusinessDesk) – New Zealand shares fell, joining a selloff across much of Asia, on speculation the US Federal Reserve will wind down its stimulus of the world’s biggest economy. Michael Hill International led retailers lower and Air ... More >>
War of words erupts on deep-sea oil safety
Thursday, 21 November 2013, 5:18 pm | BusinessDesk
Nov. 21 (BusinessDesk) – The risk of one “notifiable incident” occurring annually on a deep-sea oil rig rises to 70 percent in the deep waters being explored by Texan oil firm Anadarko in the Taranaki and Canterbury basins over the summer. More >>
NZ dollar falls on European rates, Fed minutes
Thursday, 21 November 2013, 5:15 pm | BusinessDesk
Nov. 21 (BusinessDesk) - The New Zealand dollar dropped to a week-low as speculation European interest rates may go negative and the prospect of the US central bank winding back its stimulus programme remaining in sight fuelled demand for the greenback. More >>
Spooks seek better system to balance their books
Thursday, 21 November 2013, 1:04 pm | BusinessDesk
Nov. 21 (BusinessDesk) - New Zealand’s intelligence agencies have gone to market in search of a system they can share to help their bean-counters better manage their books, while also giving them a place to store all sorts of information from all ... More >>
Ryman first-half earnings rise 22% to record, hikes dividend
Thursday, 21 November 2013, 9:55 am | BusinessDesk
Nov. 21 (BusinessDesk) - Ryman Healthcare, whose shares have climbed 72 percent this year, said first-half underlying earnings rose 22 percent to a record, allowing the retirement village operator to hike its dividend while affirming its guidance for ... More >>
No win-win if dairy conversion continues unchecked: PCE
Thursday, 21 November 2013, 9:48 am | BusinessDesk
Nov. 21 (BusinessDesk) – Projected rates of land conversion to dairy farming is so great there is no “win-win” available for both the economy and the environment, the Parliamentary Commissioner for the Environment says in a hard-hitting new report. More >>
NZ dollar drops on reports ECB mulling negative rates
Thursday, 21 November 2013, 8:53 am | BusinessDesk
Nov. 21 (BusinessDesk) - The New Zealand fell more than half a US cent after reports the European Central Bank was considering negative interest rates, and after the Federal Reserve reiterated that it is watching economic data closely before winding ... More >>
While you were sleeping: Central bankers hold steady
Thursday, 21 November 2013, 7:49 am | BusinessDesk
Nov 21 (BusinessDesk) – Wall Street gained as monetary policy makers on both sides of the pond showed that they are committed to bolstering the pace of economic growth. More >>
