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BusinessDesk - Latest News [Page 1078]

While you were sleeping: Dow lingers near record

Tuesday, 12 November 2013, 7:48 am | BusinessDesk

Nov 12 (BusinessDesk) – Wall Street lingered near record highs as investors awaited fresh clues from American monetary policy makers including Federal Reserve Chairman Ben Bernanke's nominated successor, Janet Yellen. More >>

English warns 2014-15 Budget surplus will be small, volatile

Monday, 11 November 2013, 5:57 pm | BusinessDesk

Nov. 11 (BusinessDesk) – The forecast Budget surplus for the year to June 30 2015 will be small and exposed to the influence of even small changes in the value of some government liabilities, particularly government bonds, says the Minister of ... More >>

MARKET CLOSE: NZ shares fall on Fonterra provision

Monday, 11 November 2013, 5:32 pm | BusinessDesk

Nov. 11 (BusinessDesk) – New Zealand shares fell further from near a record high as Fonterra Cooperative Group flagged a provision against inventories, while Kiwi Income Property Trust rose after announcing the price to buy back its management ... More >>

NZ dollar gains as local card spending rises

Monday, 11 November 2013, 5:06 pm | BusinessDesk

Nov. 11 (BusinessDesk) - The New Zealand dollar gained after the fastest recorded increase in card spending on core retail industries fuelled optimism about the local economy. More >>

Fonterra takes $157M provision against value-added inventory

Monday, 11 November 2013, 4:23 pm | BusinessDesk

Nov. 11 (BusinessDesk) – Fonterra Cooperative Group said it has taken a $157 million provision against inventory of specialised ingredients and branded consumer products produced by its largest NZ Milk Products division because rising input costs squeezed ... More >>

Dorchester returns to 1H profit, delays resuming dividends

Monday, 11 November 2013, 3:49 pm | BusinessDesk

Nov. 11 (BusinessDesk) - Dorchester Pacific, which avoided failure in 2010 by convincing investors to accept a debt-for-equity swap, returned to first-half profit as revenue almost tripled, though the firm has put off a return to making dividend payments ... More >>

KIPT says buying management contract won't stretch finances

Monday, 11 November 2013, 2:30 pm | BusinessDesk

Nov. 11 (BusinessDesk) – Mark Ford, independent chairman of Kiwi Income Property Trust’s manager, says a plan to internalise the management contract at a cost of about $70.6 million won’t put the property investor’s balance sheet under pressure. More >>

TrustPower says 2014 earnings will lag behind 2013

Monday, 11 November 2013, 1:55 pm | BusinessDesk

Nov. 11 (BusinessDesk) – TrustPower, the utility controlled by Infratil, expects earnings this year will lag behind the 2013 financial year as the power company invests more and is hurt by a soft New Zealand market. More >>

Goodman Property may sell $100M of bonds, diversify funding

Monday, 11 November 2013, 12:57 pm | BusinessDesk

Nov. 11 (BusinessDesk) – Goodman Property Trust, the country’s biggest listed property investor by market value, is considering offering as much as $100 million of retail bonds to diversify its funding. More >>

First EEZ seabed mining application heads to consent hearing

Monday, 11 November 2013, 12:43 pm | BusinessDesk

Nov. 11 (BusinessDesk) – A company seeking to mine ironsands from the seabed off the southern Taranaki coast will be the first to test the new marine resource consent process for commercial developments in the Exclusive Economic Zone. More >>

NZ Dollar Outlook: Kiwi may hold at current levels this week

Monday, 11 November 2013, 12:30 pm | BusinessDesk

NZ Dollar Outlook: Kiwi may hold at current levels this week as investors mull outlook for tapering More >>

MIDDAY UPDATE: CBA eyes $70.6M payday for Kiwi Income deal

Monday, 11 November 2013, 12:24 pm | BusinessDesk

Nov. 11 (BusinessDesk) – Commonwealth Bank of Australia has agreed to give up its management control of Kiwi Income Property Trust, though it will cost investors about $70.6 million to do so. More >>

Bata Bullets they’re back!

Monday, 11 November 2013, 11:35 am | BusinessDesk

Nov. 11 (BusinessDesk) – New Zealand’s answer to Converse Allstars basketball boots – the Bata Bullet – is back. More >>

NZ credit, debit card spending climbs 1.1% in October

Monday, 11 November 2013, 11:14 am | BusinessDesk

NZ credit, debit card spending climbs 1.1% in October, core retail gain at decade-high More >>

CBA wants $70.6 mln to cede management of Kiwi Income

Monday, 11 November 2013, 9:39 am | BusinessDesk

Nov. 11 (BusinessDesk) – Commonwealth Bank of Australia has agreed to cede management control of Kiwi Income Property Trust for about $70.6 million in a deal the manager’s independent directors say will lift earnings and result in annual savings of about ... More >>