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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 1087]
MARKET CLOSE: NZ stocks drop after three day rally
Thursday, 24 October 2013, 6:13 pm | BusinessDesk
Oct. 24 (BusinessDesk) – New Zealand stocks fell after a strong three day run, with weakness across leaders, including a small correction for accounting software company Xero after its recent stellar run. More >>
Kirks' annual pre-tax loss more than doubles
Thursday, 24 October 2013, 6:12 pm | BusinessDesk
Oct. 24 (BusinessDesk) - Kirkcaldie & Stains, Wellington’s upscale department store, has abandoned plans to split its retail and property businesses and reported a widening of its annual pre-tax loss. More >>
Hellaby sees earnings growth in rejigged portfolio
Thursday, 24 October 2013, 5:48 pm | BusinessDesk
Oct. 24 (BusinessDesk) - Hellaby Holdings, the conglomerate with interests ranging from footwear to oil and gas services, is still hungry for acquisitions after making two new investments this year, and sees future earnings growth in its rejigged portfolio. More >>
Kiwi recovers ground on Chinese data, RBA comments
Thursday, 24 October 2013, 5:43 pm | BusinessDesk
Oct. 24 (BusinessDesk) - The New Zealand dollar recovered most of its losses from Northern Hemisphere trading after upbeat Chinese manufacturing figures fuelled demand for the Australasian currencies, with both nations counting China is their biggest ... More >>
Port of Tauranga sees flat underlying earnings in 2014
Thursday, 24 October 2013, 3:41 pm | BusinessDesk
Port of Tauranga sees flat underlying earnings in 2014, dairy exports lagging after botulism scare More >>
Bathurst gets final green light for Denniston coal mine
Thursday, 24 October 2013, 3:29 pm | BusinessDesk
Oct. 24 (BusinessDesk) - Bathurst Resources has finally secured resource consents for its contentious Escarpment coal mine on the West Coast’s Denniston Plateau. More >>
Metlifecare to keep North Island focus for new developments
Thursday, 24 October 2013, 3:12 pm | BusinessDesk
Oct. 24 (BusinessDesk) - Metlifecare, whose cornerstone shareholder Retirement Villages Group is in the process of selling its stake, sees the upper North Island as its focus for new development opportunities. More >>
Auckland airport confirms earnings guidance for current FY
Thursday, 24 October 2013, 3:04 pm | BusinessDesk
Oct. 24 (BusinessDesk) – Auckland International Airport confirmed its expectation of an underlying profit after tax for the current financial year of between $160 million and $170 million at the annual shareholders’ meeting. More >>
Sky TV sees profit growth of up to 13 percent in 2014
Thursday, 24 October 2013, 2:30 pm | BusinessDesk
Sky TV sees profit growth of up to 13 percent in 2014, says new products in the pipeline More >>
NZ tiddler banks may come under pressure from big four
Thursday, 24 October 2013, 2:24 pm | BusinessDesk
Oct. 24 (BusinessDesk) – New Zealand regional banks, which make up about 15 percent of the local market dominated by four large Australian lenders, may struggle to increase revenue in the coming year amid competition from their bigger rivals, Fitch Ratings ... More >>
Former Rockforte Finance principals sentenced in fraud case
Thursday, 24 October 2013, 12:45 pm | BusinessDesk
Oct. 24 (BusinessDesk) - The last two defendants in the fraud case against failed lender Rockforte Finance have been sentenced today in the High Court in Gisborne. More >>
MIDDAY UPDATE: Resurgence in dairy sales lead exports higher
Thursday, 24 October 2013, 12:38 pm | BusinessDesk
Oct. 24 (BusinessDesk) – A strong recovery in dairy sales helped boost New Zealand exports in September and narrow the trade deficit. More >>
Crown withdraws charges against Terrence Hutton
Thursday, 24 October 2013, 12:25 pm | BusinessDesk
Crown withdraws charges against ex-SCF group accountant Terrence Hutton Oct. 24 (BusinessDesk) - The Serious Fraud Office intends to withdraw two charges against former South Canterbury Finance group accountant Terrence Hutton in the country’s ... More >>
NZ trade deficit shrinks as exports rise, imports fall
Thursday, 24 October 2013, 11:45 am | BusinessDesk
Oct. 24 (BusinessDesk) – New Zealand’s trade deficit narrowed more than expected last month as the nation exported more milk powder, butter and cheese while imports fell. More >>
Rising dominance of utilities in NZX 50
Thursday, 24 October 2013, 10:08 am | BusinessDesk
Oct. 24 (BusinessDesk) – The electricity sector’s rising dominance in New Zealand’s NZX 50 benchmark stock index may prompt investors to adopt a wider benchmark to avoid having too great an exposure to the industry. More >>
NZ dollar worst performer amid Chinese growth concerns
Thursday, 24 October 2013, 8:57 am | BusinessDesk
Oct. 24 (BusinessDesk) – The New Zealand dollar was the worst performing currency overnight, as investors switched to so-called ‘safe haven’ assets on concern China’s government is reducing its support for banks, which could stymie growth ... More >>
Govt seeks ‘bond’ investors willing to back social outcomes
Thursday, 24 October 2013, 8:21 am | BusinessDesk
Oct. 24 (BusinessDesk) – The government has approved a Ministry of Health pilot to test the appetite of healthcare providers and investors for social impact bonds which would only pay out on measurably improved social outcomes such as reductions ... More >>
While you were sleeping: S&P 500 falls from record
Thursday, 24 October 2013, 8:05 am | BusinessDesk
While you were sleeping: S&P 500 falls from record, JP Morgan nears bond deal More >>
NZ ICT firms dominate sales growth in 2013 TIN100 survey
Thursday, 24 October 2013, 5:39 am | BusinessDesk
Oct. 23 (BusinessDesk) – New Zealand information and communication technology firms dominated sales growth among the nation’s high-tech companies in 2013, according to the latest TIN100 survey. More >>
Meridian shares priced at $1.50, bottom of anticipated range
Wednesday, 23 October 2013, 8:04 pm | BusinessDesk
Oct 23 (BusinessDesk) – Meridian shares will be issued at a listing price of $1.50, the bottom of the indicative range of $1.50 to $1.80 and with a much smaller investor pool than the government had hoped for. More >>
