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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 1079]
Hoyts NZ cinema unit almost doubles annual profit
Friday, 8 November 2013, 3:45 pm | BusinessDesk
Hoyts NZ cinema unit almost doubles annual profit after selling distribution arm, converts to digital More >>
Lyttelton Port sees FY profit rising up to 6%
Friday, 8 November 2013, 3:20 pm | BusinessDesk
Lyttelton Port sees FY profit rising up to 6%, still at odds with insurers over redevelopment plan More >>
Bridgecorp’s Roest loses appeal against conviction, sentence
Friday, 8 November 2013, 2:37 pm | BusinessDesk
Nov. 8 (BusinessDesk) - Bridgecorp’s former finance director Rob Roest has lost his appeal to overturn his sentence and conviction for signing off on untrue statements in the failed lender’s offer documents. More >>
Wellington Airport turns to profit in 1H, boosts returns
Friday, 8 November 2013, 2:33 pm | BusinessDesk
Nov. 8 (BusinessDesk) - Wellington International Airport, which is co-owned by infrastructure investor Infratil and Wellington City Council, turned to a profit in the first half and increased its payment to its shareholders. More >>
KiwiRail names Peter Reidy as new chief executive from Feb
Friday, 8 November 2013, 12:54 pm | BusinessDesk
Nov. 8 (BusinessDesk) – KiwiRail, the state-owned rail service, named Peter Reidy as its new chief executive from February, replacing Jim Quinn who will leave at the end of his five-year term next February. More >>
Thermo Fisher applies to acquire Life Technologies
Friday, 8 November 2013, 12:36 pm | BusinessDesk
Nov. 8 (BusinessDesk) - Thermo Fisher Scientific has applied to the local regulator to acquire Life Technologies Corp as part of a US$13.6 billion global merger of the life sciences firms. More >>
MIDDAY UPDATE: Investors keep smashing Chorus
Friday, 8 November 2013, 12:07 pm | BusinessDesk
Shares in Chorus extended their slide in trading today as investors vented their frustration over a softly-softly response by the government to regulated price cuts of the network operator’s copper lines. More >>
Chorus shares plumb new lows as uncertainty reigns
Friday, 8 November 2013, 11:17 am | BusinessDesk
Nov. 8 (BusinessDesk) - Shares of Wellington-based Chorus plumbed a new low in early trading as investors aired their disappointment over the government’s response to regulated price cuts of the network operator’s copper network. More >>
New thin cap and land acquisition tax rules due this month
Friday, 8 November 2013, 10:56 am | BusinessDesk
Nov 8 (BusinessDesk) – Tax legislation will be introduced to Parliament later this month to tighten the rules relating to thin capitalisation, where foreign companies seek to reduce tax in New Zealand by loading the local subsidiary with tax deductible ... More >>
Telecom offers CEO, senior managers bonuses to boost profits
Friday, 8 November 2013, 10:50 am | BusinessDesk
Nov. 8 (BusinessDesk) – Telecom Corp, New Zealand’s largest telecommunications company, will offer one-off performance equity grants to chief executive Simon Moutter and other senior managers over the next three years to incentivise them to boost ... More >>
NZ government operating deficit smaller than forecast
Friday, 8 November 2013, 10:17 am | BusinessDesk
Nov. 8 (BusinessDesk) - The New Zealand government posted a smaller operating deficit than forecast in the May budget in the first three months of the financial year as it reaped a bigger tax take than expected, and didn’t have to book expenses as ... More >>
Warehouse 1Q sales bolstered by new acquisitions
Friday, 8 November 2013, 9:03 am | BusinessDesk
Nov. 8 (BusinessDesk) - Warehouse Group, the country’s biggest listed retailer, boosted first-quarter sales 51 percent as its Noel Leeming and Torpedo7 acquisitions added to revenue, though margins at its flagship Red Sheds brand came under pressure. More >>
NZ dollar jumps to 5-mth high vs. euro after ECB cuts rates
Friday, 8 November 2013, 9:00 am | BusinessDesk
NZ dollar jumps to five-month high vs. euro after ECB cuts rates, signals easing bias More >>
While you were sleeping: ECB surprises with rate cut
Friday, 8 November 2013, 7:44 am | BusinessDesk
Nov 8 (BusinessDesk) – Equities on both sides of the Atlantic fell, and bond prices rose, after a surprise interest rate cut by the European Central Bank underpinned the struggle of the euro zone economies to recover. More >>
MARKET CLOSE: NZ shares fall as Chorus slide continues
Thursday, 7 November 2013, 5:50 pm | BusinessDesk
Nov. 7 (BusinessDesk) - New Zealand shares fell today as uncertainty over Chorus’s future extended the network operator’s slide and as Xero’s rally to new highs ran out of steam. More >>
NZ dollar stumbles ahead of US employment data
Thursday, 7 November 2013, 5:13 pm | BusinessDesk
Nov. 7 (BusinessDesk) - The New Zealand dollar fell from its two-week high ahead of US employment figures on Friday, which are seen as a bellwether on the pace of recovery in the world’s biggest economy. More >>
Govt to end water quality bickering with national standards
Thursday, 7 November 2013, 4:34 pm | BusinessDesk
Nov. 7 (BusinessDesk) – The government is hailing as a breakthrough national agreement among water scientists on benchmarks to dictate new bottom lines for freshwater quality across New Zealand. More >>
MRP affirms forecast earnings growth
Thursday, 7 November 2013, 3:11 pm | BusinessDesk
Nov. 7 (BusinessDesk) - MightyRiverPower, the first state-owned energy company partially privatised by the government this year, affirmed its expectations for annual earnings growth of 27 percent, while bemoaning the scrutiny its falling share price has come ... More >>
NZ property values accelerate at 8.9% annual pace in Oct: QV
Thursday, 7 November 2013, 12:54 pm | BusinessDesk
NZ property values accelerate at 8.9% annual pace in Oct, lending limits having limited impact, QV says More >>
RESEND: Z Energy wary of chasing cheap fuel 'switchers'
Thursday, 7 November 2013, 12:26 pm | BusinessDesk
Nov. 7 (BusinessDesk) - Z Energy chief executive Mike Bennetts says he’s wary of a new type of customer happy to hunt for the biggest discount at the pump, and that the service station has no plans to chase them. More >>
