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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 1076]
MARKET CLOSE: NZ shares join global rally; Contact gains
Thursday, 14 November 2013, 5:41 pm | BusinessDesk
Nov. 14 (BusinessDesk) – New Zealand shares joined a global rally after Federal Reserve designate chair Janet Yellen indicated no rush to remove economic stimulus. Contact Energy and Auckland International Airport paced the gains. More >>
NZ dollar gains as Yellen hints at slower Fed tapering
Thursday, 14 November 2013, 5:22 pm | BusinessDesk
Nov. 14 (BusinessDesk) - The New Zealand dollar gained in local trading after Federal Reserve chair-nominee Janet Yellen indicated the US central bank won’t back off its money printing programme until the world’s biggest economy and its labour market ... More >>
AWF 1H profit slides 57% as Christchurch fails to spark
Thursday, 14 November 2013, 3:50 pm | BusinessDesk
Nov. 14 (BusinessDesk) - AWF Group reported a 57 slump in first-half profit as its predicted growth in Christchurch didn’t eventuate and after the country’s biggest supplier of temporary staff exited its Panacea Healthcare unit. More >>
James Hardie sees NZ leaks, school suits may cost US$47.6M
Thursday, 14 November 2013, 2:33 pm | BusinessDesk
James Hardie sees NZ leaky building, schools legal action costing up to US$47.6 mln More >>
NZ consumer confidence at highest since January 2010
Thursday, 14 November 2013, 1:39 pm | BusinessDesk
Nov. 14 (BusinessDesk) – New Zealand consumer confidence rose to the highest in more than 3 ½ years this month as kiwis became more confident about the outlook for the economy and their own finances. More >>
Friends and family from overseas spend far more than realise
Thursday, 14 November 2013, 12:45 pm | BusinessDesk
Nov. 14 (BusinessDesk) – Newly reworked tourist spending data shows that friends and family visiting from other countries spend far more than previous surveys have identified, although tourism spending shows an overall downward trend in the last ... More >>
MIDDAY UPDATE: Figures paint different pictures of economy
Thursday, 14 November 2013, 12:26 pm | BusinessDesk
Nov. 14 (BusinessDesk) – Separate reports today painted a mixed picture of the economy, with the country’s manufacturing sector going gangbusters, while consumers clamped down on their spending. More >>
Air NZ to take up Virgin rights for stake of up to 25.5%
Thursday, 14 November 2013, 12:08 pm | BusinessDesk
Air NZ to take up Virgin rights for stake of up to 25.5 percent More >>
NZ manufacturing activity grows in October
Thursday, 14 November 2013, 11:30 am | BusinessDesk
Nov. 14 (BusinessDesk) – New Zealand manufacturing activity rose in October, indicating the sector is part of a broad-based economic expansion. More >>
Picton gets reprieve as government shoots down Clifford Bay
Thursday, 14 November 2013, 11:16 am | BusinessDesk
Nov. 14 (BusinessDesk) – Picton’s economic viability has been affirmed after the government rejected a proposal to build a $525 million ferry terminal at Clifford Bay that had promised to cut transport times between the North Island and Christchurch. More >>
NZ 3Q retail sales rise less than expected
Thursday, 14 November 2013, 10:55 am | BusinessDesk
NZ 3Q retail sales rise less than expected as cars, auto parts offset soft consumer spending More >>
Rakon 1H loss widens on impairments after Chengdu sale
Thursday, 14 November 2013, 10:47 am | BusinessDesk
Nov. 14 (BusinessDesk) – Rakon, whose shares have shed more than three quarters of their value in the past three years, posted a wider first-half loss on impairments following the sale of its Rakon Crystal (Chengdu) unit and associated charges against ... More >>
Pyne Gould Corp plans to exit NZ, seek London listing
Thursday, 14 November 2013, 10:04 am | BusinessDesk
Nov 14 (BusinessDesk) – Pyne Gould Corp, the asset management firm controlled by George Kerr, plans to exit New Zealand and shift its listing to the London Stock Exchange in the first half of next year, saying it offers better growth prospects. More >>
NZ dollar advances in tight trading range
Thursday, 14 November 2013, 9:00 am | BusinessDesk
Nov 14 (BusinessDesk) – The New Zealand dollar advanced in a tight trading range as investors mull the outlook for monetary stimulus in the US, and ahead of local economic data which is expected to show a strengthening economy. More >>
While you were sleeping: Shares of Macy's jump
Thursday, 14 November 2013, 7:44 am | BusinessDesk
Nov 14 (BusinessDesk) – Shares of Macy's soared, last up 9.5 percent, after the department store chain reported third-quarter profit that exceeded expectations and expressed confidence about the outlook. More >>
MARKET CLOSE: NZ shares gain; Fletcher, Mainfreight advance
Wednesday, 13 November 2013, 6:01 pm | BusinessDesk
Nov. 13 (BusinessDesk) – New Zealand shares edged higher, led by Fletcher Building, on optimism growth in the domestic economy is starting to gain traction. Mainfreight rose after yesterday reporting a pickup in trading in recent months. More >>
NZ dollar pares loss after RBNZ outlines risks to stability
Wednesday, 13 November 2013, 5:14 pm | BusinessDesk
Nov. 13 (BusinessDesk) - The New Zealand dollar pared losses earlier in the local trading session after investors digested the risks to the country’s financial system posed in the latest Reserve Bank’s financial stability report. More >>
Industrial customer losses hit King Country Energy
Wednesday, 13 November 2013, 5:08 pm | BusinessDesk
Nov. 13 (BusinessDesk) – Electricity sector bit-player King Country Energy had a less buoyant first half than for the same period last year, with underlying earnings falling 5.8 percent after losing three “large industrial customers” and receiving ... More >>
Steel & Tube expects 1H earnings to marginally improve
Wednesday, 13 November 2013, 2:31 pm | BusinessDesk
Nov. 13 (BusinessDesk) – Steel & Tube Holdings, the steel building products firm, expects first half earnings to be “marginally ahead” of the same period a year earlier as it benefits from price rises in an improving economy. More >>
Chinese downturn biggest risk to New Zealand: RBNZ’s Wheeler
Wednesday, 13 November 2013, 2:23 pm | BusinessDesk
Nov. 13 (BusinessDesk) - Reserve Bank governor Graeme Wheeler says a potential downturn in the Chinese economy is the biggest risk to New Zealand and is the type of external shock the central bank wants to protect homeowners from with its restrictions on ... More >>
