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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 1073]
MARKET CLOSE: NZ shares drop as Air NZ punters sell
Wednesday, 20 November 2013, 6:01 pm | BusinessDesk
Nov. 20 (BusinessDesk) – New Zealand shares fell as brokers hoping for a quick profit from the government selldown of Air New Zealand were forced to sell in a declining market and concerns about unfavourable policy changes weighed on power companies ... More >>
Xero first-half loss more than doubles, losses to grow
Wednesday, 20 November 2013, 6:00 pm | BusinessDesk
Nov. 20 (BusinessDesk) - Xero, the cloud-based accounting software company that’s now the second-biggest listed company more than doubled its first-half loss as it continues its drive for global domination More >>
Xero first-half loss more than doubles, losses to grow
Wednesday, 20 November 2013, 6:00 pm | BusinessDesk
Nov. 20 (BusinessDesk) - Xero, the cloud-based accounting software company that’s now the second-biggest listed company more than doubled its first-half loss as it continues its drive for global domination More >>
NZ dollar holds gains as Bernanke urges caution on tapering
Wednesday, 20 November 2013, 5:23 pm | BusinessDesk
Nov. 20 (BusinessDesk) - The New Zealand dollar held gains in local trading after departing US Federal Reserve chair Ben Bernanke said the central bank can be patient about removing its massive stimulus programme until economic recovery is in full-swing, ... More >>
Sanford full-year pretax earnings slip 5%
Wednesday, 20 November 2013, 5:20 pm | BusinessDesk
Sanford full-year pretax earnings slip 5% as mussels, tuna, mackerel weigh on second half More >>
Knauf takes on Fletcher in NZ plasterboard market
Wednesday, 20 November 2013, 3:27 pm | BusinessDesk
Nov. 18 (BusinessDesk) – Knauf, the world’s second-largest plasterboard maker, may build a factory in New Zealand, adding to a chain of independent stores it is setting up to try to loosen what it says is Fletcher Building’s grip on the market ... More >>
Pumpkin Patch sees unchanged profit in 2014, downside risks
Wednesday, 20 November 2013, 2:42 pm | BusinessDesk
Nov. 20 (BusinessDesk) - Pumpkin Patch, the children’s clothing retailer, expects annual earnings to be in line with 2013, and says it faces more downside risk for the remainder of the year. The shares fell. More >>
Kathmandu 1Q sales rise 0.9% as crucial seasonal peak looms
Wednesday, 20 November 2013, 12:26 pm | BusinessDesk
Nov. 20 (BusinessDesk) – Kathmandu, the outdoor clothing retailer, said sales rose 0.9 percent in the first 16 weeks of the year, broadly meeting its expectations, as it looks forward to the crucial Christmas-January trading period to drive first-half ... More >>
Margins for dairy farmers fuel producer price inflation
Wednesday, 20 November 2013, 11:58 am | BusinessDesk
Nov. 20 (BusinessDesk) - Rising milk prices paid to dairy farmers fuelled growth in the prices producers paid and received in the third quarter, a period when Fonterra Cooperative Group twice hiked its forecast payout at the farmgate while batting off ... More >>
Air NZ shares slip after brokers, instos pile into selldown
Wednesday, 20 November 2013, 11:56 am | BusinessDesk
Nov. 20 (BusinessDesk) – Air New Zealand shares fell when they resumed trading, after many brokers and institutional investors piled into the government’s sale of a 20 percent stake at what some market participants say was a surprisingly strong ... More >>
Airwork looks for $40 mln Christmas present in latest IPO
Wednesday, 20 November 2013, 11:54 am | BusinessDesk
Nov. 20 (BusinessDesk) - Aviation services firm Airwork Holdings wants as much as $40 million in the last float before Christmas, which it will put towards funding operations, buying back shares from controlling shareholder Hugh Jones and repaying ... More >>
Goodman Property says 1H distributable earnings climb 23%
Wednesday, 20 November 2013, 10:25 am | BusinessDesk
Nov. 20 (BusinessDesk) – Goodman Property Trust, New Zealand’s biggest listed property investor, said its distributable first-half earnings rose 23 percent and affirmed its guidance for full-year profit. More >>
IRD files to liquidate ex-MediaWorks holding companies
Wednesday, 20 November 2013, 9:23 am | BusinessDesk
Nov. 20 (BusinessDesk) - The Inland Revenue Department has filed applications to liquidate former MediaWorks companies over a disputed $22.1 million relating to past financing arrangements that have since been deemed avoidance in the courts. More >>
NZ dollar gains before Bernanke speech, US data, FOMC
Wednesday, 20 November 2013, 8:51 am | BusinessDesk
Nov. 20 (BusinessDesk) - The New Zealand dollar gained ahead of a speech by outgoing Federal Reserve chairman Ben Bernanke, and as US data and minutes to the last Fed policy meeting loom. More >>
While you were sleeping: Bernanke's words awaited
Wednesday, 20 November 2013, 7:40 am | BusinessDesk
Nov 20 (BusinessDesk) – Wall Street slipped, pushing the Dow Jones Industrial Average down from yesterday's record-high close, as investors eyed a speech by Federal Reserve Chairman Ben Bernanke later today for the latest take on the state of the world's ... More >>
Dairy prices rise 0.1% in latest GDT auction
Wednesday, 20 November 2013, 7:16 am | BusinessDesk
Nov. 20 (BusinessDesk) - Prices of dairy products edged up in the latest GlobalDairyTrade auction, snapping two straight declines, as the volume sold rose to a two-month high. The GDT Price Index, previously known as the GDT-TWI Price Index, rose 0.1 percent ... More >>
Market Close: NZ shares fall as Air NZ selldown in focus
Tuesday, 19 November 2013, 6:03 pm | BusinessDesk
Nov. 19 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 Index lower for a second day, ahead of the announcement that the Air New Zealand selldown didn’t require a discount and as brewer Moa Group posted a first-half loss. More >>
Air NZ selldown completed at $1.65 a share, or $365 million
Tuesday, 19 November 2013, 5:36 pm | BusinessDesk
Nov. 19 (BusinessDesk) – The government sold 20 percent of Air New Zealand at $1.65 a share, meaning there was enough demand from investors to ensure the sale wasn’t at a discount to its last trading price. More >>
NZ dollar drifts off ahead of US data, Fed minutes
Tuesday, 19 November 2013, 5:33 pm | BusinessDesk
Nov. 19 (BusinessDesk) - The New Zealand dollar fell in local trading as investors await consumer spending and inflation figures in the US later this week, and the release of minutes to the Federal Reserve’s last policy meeting. More >>
NZ dollar to fall as interest rates rise: RBNZ survey
Tuesday, 19 November 2013, 5:03 pm | BusinessDesk
Nov. 19 (BusinessDesk) – Firms expect the kiwi dollar to weaken by two cents to around 80 US cents by September next year, as the economic recovery gathers pace. More >>
