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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 1074]
Moa shares slide to new low after 1H loss of $3.04 mln
Tuesday, 19 November 2013, 4:59 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Shares in Moa Group fell to a new low after the beer brewer reported a first-half loss of in a period where it expects to bear the brunt of switching its New Zealand distributor. More >>
Latest IPO sees Airwork’s shareholder sell 30.6%, $40M stake
Tuesday, 19 November 2013, 4:53 pm | BusinessDesk
Latest IPO sees Airwork’s shareholder Hugh Jones to sell up to $40 mln stake More >>
Anadarko drill ship on-site, one protest boat remains
Tuesday, 19 November 2013, 2:59 pm | BusinessDesk
Nov. 19 (BusinessDesk) – The deep-sea oil drilling ship Noble Bob Douglas, owned by Texan oil company Anadarko, has arrived at the intended site of an exploration well in the Deepwater Taranaki prospect, with only one of six protest flotilla craft ... More >>
Government to press ahead with remaining 4G auction
Tuesday, 19 November 2013, 2:56 pm | BusinessDesk
Nov. 19 (BusinessDesk) – The New Zealand government is to press ahead with the auction of remaining unsold 4G spectrum in the 700 Megahertz range, despite hopes by late mobile market entrant 2degrees that it would be retained for later sale. More >>
Burger King NZ posts small loss in 1st year under Blackstone
Tuesday, 19 November 2013, 2:53 pm | BusinessDesk
Nov. 19 (BusinessDesk) – The operator of Burger King in New Zealand posted a small loss in 2012, the first full year under the ownership of US private equity firm Blackstone Group. More >>
China’s biggest bank, ICBC, sets up shop in New Zealand
Tuesday, 19 November 2013, 12:00 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Industrial and Commercial Bank of China, that nation’s largest lender by assets, has become the 23rd bank to be registered to operate in New Zealand. More >>
CORRECT: Wynyard sees wider 2013 loss
Tuesday, 19 November 2013, 11:06 am | BusinessDesk
Nov. 19 (BusinessDesk) - Wynyard Group, the intelligence software developer spun out of Jade Software in July, faces a wider annual loss as it ramps up investment to chase sales growth, and says it’s on track to meet its 2013 revenue forecast. More >>
Cavalier sees 2014 earnings growth of up to 51%
Tuesday, 19 November 2013, 10:55 am | BusinessDesk
Nov. 19 (BusinessDesk) - Cavalier Corp, the listed carpet-maker, is forecasting annual earnings growth of up to 51 percent after the company overhauled its business in the face of stiff competition from synthetic carpet manufacturers. More >>
Wynyard hikes 2013 capex up to 63%, affirms IPO sales target
Tuesday, 19 November 2013, 9:12 am | BusinessDesk
Wynyard hikes 2013 capex by up to 63%, on track to meet IPO sales forecast More >>
NZ dollar stable as Fed sees weak US growth this year
Tuesday, 19 November 2013, 8:45 am | BusinessDesk
Nov. 19 (BusinessDesk) - The New Zealand dollar was little changed in Northern Hemisphere trading after Federal Reserve official William Dudley said US growth is still a forecast rather than reality, weighing on investors’ expectations for when the Fed will ... More >>
While you were sleeping: Fresh records to start the week
Tuesday, 19 November 2013, 7:26 am | BusinessDesk
Nov 19 (BusinessDesk) – Wall Street gained, sending the Dow Jones Industrial Average and the Standard & Poor's 500 Index to new records, amid further signals US economic growth is not yet strong enough to prompt the Federal Reserve to start pulling back ... More >>
Give back GST on new homes to lower cost of housing: report
Monday, 18 November 2013, 6:28 pm | BusinessDesk
Nov. 18 (BusinessDesk) – The government should give the GST paid for a new house to city councils in return for opening up new land for housing, says the New Zealand Initiative in the third and final instalment of thinking on housing affordability. More >>
MARKET CLOSE: NZ shares fall on Chorus dividend doubts
Monday, 18 November 2013, 5:46 pm | BusinessDesk
Nov. 18 (BusinessDesk) – New Zealand shares fell, led by Chorus, after the network company withdrew its guidance on paying dividends next year because of the uncertainty created by looming regulated prices and the government’s possible response. More >>
Meridian receipts sink close to listing price
Monday, 18 November 2013, 5:16 pm | BusinessDesk
Nov. 18 (BusinessDesk) – Strong inflows of water to its South Island hydro storage lakes and windy weather saw Meridian Energy generate 13 percent more electricity in the three months to Sept. 30 than in the same period last year, but at wholesale ... More >>
NZ dollar holds gains as investors await Fed minutes, data
Monday, 18 November 2013, 5:09 pm | BusinessDesk
Nov. 18 (BusinessDesk) - The New Zealand dollar held gains in local trading after weaker US manufacturing figures on Friday weighed on the greenback, leaving investors cautious ahead of the Federal Reserve minutes to last policy meeting later this week. More >>
No more asset sales after next election, says English
Monday, 18 November 2013, 4:38 pm | BusinessDesk
Nov. 18 (BusinessDesk) – Finance Minister Bill English says a re-elected National Party-led government is not planning any more asset sales after the 2014 election, largely because everything that can be sold will have been by then. More >>
AWF shareholders approve $36M Madison purchase, shares gain
Monday, 18 November 2013, 3:49 pm | BusinessDesk
Nov. 18 (BusinessDesk) - AWF Group has been given the go-ahead by shareholders to spend up to $36 million buying white-collar recruitment agency Madison Group in a deal forecast to boost annual earnings by half. More >>
Brokers accept fee of just 0.35 percent in Air NZ sale
Monday, 18 November 2013, 3:41 pm | BusinessDesk
Brokers accept fee of just 0.35 percent in Air NZ sale pitched at $1.60 a share More >>
Transpower wins tax dispute over feasibility study costs
Monday, 18 November 2013, 1:04 pm | BusinessDesk
Nov. 18 (BusinessDesk) - TrustPower, the energy company controlled by Infratil, has won a tax dispute with the Inland Revenue Department over whether it could claim deductions on costs arising from the feasibility of renewable generation projects. More >>
NZ Dollar Outlook: Kiwi may gain as investors favour risk
Monday, 18 November 2013, 12:52 pm | BusinessDesk
Nov. 18 (BusinessDesk) – The New Zealand dollar may gain this week as higher risk assets remain in favour. More >>
