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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 1085]
Chorus lumped with ‘regulatory risk premium’, Sheldon says
Wednesday, 30 October 2013, 2:31 pm | BusinessDesk
Oct. 30 (BusinessDesk) – Shares of Chorus, the telecommunications network operator, are weighed down by regulatory risk premium because of the threat of enforced price cuts for access to its wholesale copper lines, according to chairwoman Sue Sheldon. More >>
UPDATE: Evolution pays $10.5M for Acurity stake
Wednesday, 30 October 2013, 2:05 pm | BusinessDesk
Oct 30 (BusinessDesk) – Evolution Healthcare, an Australian private equity healthcare investor that owns Lower Hutt’s Boulcott Hospital, has acquired a potential blocking stake in Acurity Health Group, the owner of three rival private hospitals. More >>
FMA wants better offer documents as securities reform looms
Wednesday, 30 October 2013, 1:57 pm | BusinessDesk
Oct. 30 (BusinessDesk) - The Financial Markets Authority wants companies to up their game when putting out offer documents to make sure they’re accessible to retail investors, ahead of new disclosure requirements in the looming overhaul of securities ... More >>
Pan Pacific fund gets US$24M from NZVIF, Taiwan partner
Wednesday, 30 October 2013, 1:55 pm | BusinessDesk
Oct. 30 (BusinessDesk) – Venture capitalist Tony Bishop’s Pan Pacific Capital venture capital fund has got funding commitments of US$12 million apiece from the NZ Venture Investment Fund and Taiwan’s National Development Fund and said it’s ... More >>
Evolution pays $10.5M for potential Acurity blocking stake
Wednesday, 30 October 2013, 1:10 pm | BusinessDesk
Oct. 30 (BusinessDesk) – Evolution Healthcare, an Australian private equity healthcare investor that owns Lower Hutt’s Boulcott Hospital, has acquired a potential blocking stake in Acurity Health Group, the owner of three rival private hospitals. More >>
MIDDAY UPDATE: Transpacific gives up on local waste disposal
Wednesday, 30 October 2013, 12:17 pm | BusinessDesk
Oct. 30 (BusinessDesk) – Australian waste management firm Transpacific Industries has given up on its New Zealand unit, seven years after shelling out $870 million on the acquisition. More >>
Transpacific Industries to sell kiwi waste management unit
Wednesday, 30 October 2013, 11:16 am | BusinessDesk
Oct. 30 (BusinessDesk) - Transpacific Industries, the Australian waste manager, has put its New Zealand business up for sale, two years after writing downs the value of the kiwi unit. More >>
Wellington Drive narrows 3rd-qtr loss, affirms FY guidance
Wednesday, 30 October 2013, 11:08 am | BusinessDesk
Oct. 30 (BusinessDesk) - Wellington Drive Technologies, the manufacturer of energy efficient refrigeration motors, narrowed its third-quarter loss by selling higher-margin products and cutting costs, and affirmed its guidance for a smaller full-year loss. More >>
NZ bank payments resume after ANZ glitch as RBNZ watches
Wednesday, 30 October 2013, 10:37 am | BusinessDesk
Oct. 30 (BusinessDesk) - Payments between New Zealand banks have been restored after a glitch at ANZ New Zealand led to industry-wide disruptions. More >>
2degrees urges Adams to keep remaining 700MHz spectrum
Wednesday, 30 October 2013, 9:49 am | BusinessDesk
Oct. 30 (BusinessDesk) - Two Degrees Mobile, which has grabbed about a fifth of the mobile phone market since its entry in 2009, is urging Communications Minister Amy Adams to hang on to unsold 700 megahertz radio spectrum until after a review of the ... More >>
NZ dollar falls as investors bet on delayed Fed tapering
Wednesday, 30 October 2013, 8:57 am | BusinessDesk
Oct. 30 (BusinessDesk) – The New Zealand dollar fell as investors bet expectations for the Federal Reserve to delay tapering its monetary stimulus programme until March next year had already been priced into the markets. More >>
Govt sells $176 mln of 4G spectrum
Wednesday, 30 October 2013, 8:54 am | BusinessDesk
Oct. 30 (BusinessDesk) - The government has raised $176 million from selling the bulk of its 700 megahertz radio spectrum, flagged for fourth generation mobile phone use, and is still mulling what to do with the remainder. More >>
While you were sleeping: S&P 500 at record on stimulus bets
Wednesday, 30 October 2013, 7:53 am | BusinessDesk
Oct. 30 (BusinessDesk) – The Standard & Poor’s 500 Index rose to a new record on expectations the Federal Reserve will maintain its massive stimulus programme amid signs the world’s biggest economy is stumbling. More >>
MARKET CLOSE: NZ shares fall as Xero slides; Meridian lists
Tuesday, 29 October 2013, 5:50 pm | BusinessDesk
Oct. 29 (BusinessDesk) – New Zealand shares fell as Xero extended its slide from a record high and market heavyweights Fletcher Building and Telecom dragged the benchmark index lower. Meridian Energy gained on its debut, helping lift MightyRiverPower and ... More >>
Govt remains committed to Genesis Energy sale
Tuesday, 29 October 2013, 5:42 pm | BusinessDesk
Oct. 29 (BusinessDesk) – The government is still committed to the partial privatisation of Genesis Energy, despite a rocky performance in both the asset sales so far undertaken, Prime Minister John Key has confirmed. More >>
NZ dollar falls before Fed, RBNZ as RBA sees weaker currency
Tuesday, 29 October 2013, 5:11 pm | BusinessDesk
Oct. 29 (BusinessDesk) – The New Zealand dollar fell, closing in on a key support level, ahead of the Federal Reserve’s two-day policy meeting and after the Reserve Bank of Australia said its currency may be “materially lower” in future. More >>
Fonterra board sets up separate risk committee after review
Tuesday, 29 October 2013, 3:58 pm | BusinessDesk
Oct. 29 (BusinessDesk) - The board of Fonterra Cooperative Group will establish a separate committee to oversee risks facing the dairy group in the wake of the false alarm food scare that prompted a precautionary recall in August. More >>
UPDATED: Meridian debuts at $1.08 after tepid IPO
Tuesday, 29 October 2013, 1:31 pm | BusinessDesk
Oct. 29 (BusinessDesk) - Meridian Energy’s instalment receipts debuted at $1.08 after tepid demand in the initial public offering saw the stock sold at the bottom end of its indicative range and with a smaller-than-expected pool of investors. More >>
Meridian gains to $1.08 in NZX debut after tepid IPO
Tuesday, 29 October 2013, 1:04 pm | BusinessDesk
Meridian gains to $1.08 in NZX debut after tepid IPO lures smaller pool of kiwis More >>
MIDDAY UPDATE: Meridian set to go public
Tuesday, 29 October 2013, 12:14 pm | BusinessDesk
Oct. 29 (BusinessDesk) – Meridian Energy is set to go public this afternoon when trading of its instalment receipts kicks off at 1pm after a tepid response to the initial public offering. More >>
