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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 1082]
MARKET CLOSE: NZ shares mixed; Xero tops $30, NZX 50 slips
Monday, 4 November 2013, 5:51 pm | BusinessDesk
Nov. 4 (BusinessDesk) – New Zealand shares were mixed, with the NZX 50 Index slipping from a record high, while Xero rose above $30, leading a rally in companies seen with strong growth potential, including A2 Corp, Diligent Board Member Services and ... More >>
NZ dollar falls vs. Australian dollar on retail spending
Monday, 4 November 2013, 5:11 pm | BusinessDesk
NZ dollar falls vs. Aust as retail sales trim expectations for another RBA rate cut More >>
Westpac NZ sees LVR speed limits slowing housing credit
Monday, 4 November 2013, 5:05 pm | BusinessDesk
Nov. 4 (BusinessDesk) – Westpac Banking Corp’s New Zealand unit expects housing credit growth to slow next year as the Reserve Bank’s LVR restrictions bite, although that will be offset by faster business credit growth as the economy accelerates. More >>
Kea Petroleum seeks facility to confirm going concern status
Monday, 4 November 2013, 2:51 pm | BusinessDesk
Nov. 4 (BusinessDesk) – London-based Taranaki oil and gas company Kea Petroleum needs to sign a bank facility to fund capital expenditure on production facilities and ongoing testing of prospects, projected cashflows from two semi-developed wells ... More >>
RESEND Tapert's Evil Dead makes small profit
Monday, 4 November 2013, 2:47 pm | BusinessDesk
RESEND Rob Tapert’s ‘Evil Dead’ NZ production company posts $49,000 profit for classic remake More >>
Tapert’s ‘Evil Dead’ NZ production firm posts $49,000 profit
Monday, 4 November 2013, 2:42 pm | BusinessDesk
Rob Tapert’s ‘Evil Dead’ NZ production company posts $49,000 profit for classic remake More >>
NZ commodity prices rise for 4th straight month; wool leads
Monday, 4 November 2013, 1:25 pm | BusinessDesk
Nov. 4 (BusinessDesk) - New Zealand commodity prices rose for a fourth straight month, and are now just 1.8 percent below the record set in April, as wool extended its rally to a 22-month high. More >>
MIDDAY UPDATE: Moa shares plunge after profit warning
Monday, 4 November 2013, 12:20 pm | BusinessDesk
Nov. 4 (BusinessDesk) – Shares in Moa Group plunged 10 percent after the boutique beer maker said its annual loss could be more than twice what it forecast in last year’s offer document. More >>
NZ Dollar Outlook: Kiwi supported by RBNZ's rate outlook
Monday, 4 November 2013, 11:52 am | BusinessDesk
NZ Dollar Outlook: Kiwi may hold its ground vs. stronger greenback with local rates set to rise More >>
Westpac’s NZ unit FY cash earnings rise 9% as lending grows
Monday, 4 November 2013, 10:44 am | BusinessDesk
Nov. 4 (BusinessDesk) – Westpac Banking Corp’s New Zealand unit reported a 9 percent increase in full-year earnings after lifting deposits and lending and holding expenses unchanged, making up for margin shrinkage. More >>
Building industry calls for better building consent process
Monday, 4 November 2013, 10:41 am | BusinessDesk
Nov. 4 (BusinessDesk) – The biggest increases in the cost of building a house have come from increased local government resource consent fees and higher land development costs caused in part by inconsistent local authority approaches to provision of infrastructure, ... More >>
FMA grants exemptions after Meridian disclosure muddle
Monday, 4 November 2013, 9:59 am | BusinessDesk
Nov. 4 (BusinessDesk) – The Financial Markets Authority has granted exemptions to disclosure rules covering Meridian Energy’s instalment receipts after an overseas investor mistakenly disclosed a substantial holding in the newly listed power company. More >>
Acurity cost-cutting improves 1H earnings
Monday, 4 November 2013, 9:54 am | BusinessDesk
Nov. 4 (BusinessDesk) - Acurity Health Group, the private hospital owner and operator formerly known as Wakefield, has boosted first-half earnings as it stripped out costs, while warning that private healthcare operators are still in decline. More >>
Moa warns FY loss could be $6 mln, starts strategic review
Monday, 4 November 2013, 9:10 am | BusinessDesk
Nov. 4 (BusinessDesk) - Moa Group, the boutique beer maker which raised $16 million in a float last year, expects to post a bigger annual loss than flagged in its offer document after saying it would miss its sales forecast and its board will embark ... More >>
NZ dollar gains vs. euro amid talk ECB may stimulate further
Monday, 4 November 2013, 8:40 am | BusinessDesk
NZ dollar hits two-week high vs. euro amid speculation further stimulus in the wind for Europe More >>
World Week Ahead: ECB rate decision awaited
Monday, 4 November 2013, 7:08 am | BusinessDesk
Nov. 4 (BusinessDesk) - It’s time for US Federal Reserve officials to step to the sidelines, at least for a few days, with policymakers in Australia, the UK and Europe set to give investors some new plays. More >>
Labour pledges KiwiBank style local insurer
Saturday, 2 November 2013, 6:08 pm | BusinessDesk
Nov. 2 (BusinessDesk) – A Labour-led government will instruct New Zealand Post to expand its fledgling insurance business to offer general insurance to compete with an industry currently dominated by foreign ownership. More >>
Labour pledges new KiwiBank-style local insurer
Saturday, 2 November 2013, 3:56 pm | BusinessDesk
Nov 2 (BusinessDesk) – A Labour-led government will instruct New Zealand Post to expand its fledgling insurance business to offer general insurance to compete with an industry currently dominated by foreign ownership. More >>
MARKET CLOSE: NZX 50 rises to fresh record
Friday, 1 November 2013, 5:37 pm | BusinessDesk
Nov. 1 (BusinessDesk) - New Zealand shares rose to a new record, ending the week up 1 percent after Meridian Energy and tech start-up GeoOp listed. More >>
NZ dollar slips this week as Fed and RBNZ hold fire
Friday, 1 November 2013, 5:22 pm | BusinessDesk
Nov. 1 (BusinessDesk) - The New Zealand dollar edged lower this week after the Federal Reserve kept its money printing programme intact, while the local Reserve Bank warned any future rate hikes may be delayed next year by sustained strength in the currency. More >>
