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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 1088]
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 >>
MARKET CLOSE NZ shares extend rally
Wednesday, 23 October 2013, 5:57 pm | BusinessDesk
Oct. 23 (BusinessDesk) – New Zealand shares extended their rally for a third day as Xero closed in on $30 a share, Metlifecare rose to a five-year high and Pacific Edged soared for a second day. More >>
Kiwi dollar falls against Aussie on low inflation figures
Wednesday, 23 October 2013, 5:21 pm | BusinessDesk
Oct. 23 (BusinessDesk) - The New Zealand dollar fell against its trans-Tasman counterpart after faster-than-expected inflation eroded the chances of another rate by the Reserve Bank of Australia, and fuelled demand for the Australian dollar. More >>
Sanford says FY profit missed forecast range on Oz writedown
Wednesday, 23 October 2013, 5:20 pm | BusinessDesk
Oct. 23 (BusinessDesk) - Sanford, New Zealand’s largest listed fishing company, said its full-year profit was below forecast because of an impairment on the value of Australian quota. More >>
Pacific Edge to raise up to $20.5M for US push
Wednesday, 23 October 2013, 3:15 pm | BusinessDesk
Pacific Edge to raise up to $20.5 mln in rights issue to fund US push More >>
NZ Post to move to 3-day deliveries in urban areas from 2015
Wednesday, 23 October 2013, 1:09 pm | BusinessDesk
NZ Post to move to 3-day deliveries in urban areas from 2015 as volumes slide More >>
Contact’s Te Mihi delay offset by Cook Strait cable gains
Wednesday, 23 October 2013, 12:19 pm | BusinessDesk
Oct. 23 (BusinessDesk) – Contact Energy will only get six instead of an expected nine months’ benefit from electricity generated at its new Te Mihi geothermal power station, but the delay is offset by gains for the generator-retailer from restoration ... More >>
MIDDAY UPDATE: Pacific Edge soars as doors open to US
Wednesday, 23 October 2013, 12:14 pm | BusinessDesk
Oct. 23 (BusinessDesk) – Shares in Dunedin-based Pacific Edge continued their surge today after the bladder cancer test inventor signed its second deal with a US healthcare network, opening the door to the world’s biggest economy. More >>
Kiwi Income sells Queen St building to Australian firm
Wednesday, 23 October 2013, 11:45 am | BusinessDesk
Oct. 23 (BusinessDesk) - Kiwi Income Property Trust, the biggest listed property investor, will sell its office building at 205 Queen Street in a two-stage deal to a company associated with privately held Brisbane-based Bloomberg Incorporation. More >>
Pacific Edge shares soar to new record on optimism over US
Wednesday, 23 October 2013, 11:13 am | BusinessDesk
Oct. 23 (BusinessDesk) –Shares in Pacific Edge soared, making the stock the best performer on the stock exchange today, as investors are buoyed by signs the bladder cancer diagnostic company is gaining traction in the US, the world’s largest healthcare ... More >>
Geothermal plant fills gaps for MRP Waikato hydro shortage
Wednesday, 23 October 2013, 11:04 am | BusinessDesk
Oct. 23 (BusinessDesk) – The lowest inflows to the Waikato River since MightyRiverPower’s establishment in 1999 didn’t stop the company achieving higher weighted average prices for its wholesale electricity generation than its competitors in the three ... More >>
Chorus lifts broadband connections, fixed-lines in 3Q
Wednesday, 23 October 2013, 9:48 am | BusinessDesk
Oct. 23 (BusinessDesk) – Chorus, the network operator spun out of Telecom in 2011, increased broadband connections by 2 percent in the latest quarter as its fixed-line connections slipped 0.3 percent. More >>
Ebos on target to meet forecast earnings in first half
Wednesday, 23 October 2013, 9:14 am | BusinessDesk
Oct. 23 (BusinessDesk) - Ebos Group, the healthcare and animal care products company, is on target to meet its forecast earnings in the first half as its $1.1 billion acquisition of Australian pharmaceuticals firm Symbion gives it greater scale across ... More >>
NZ dollar jumps to five month high after weak US jobs data
Wednesday, 23 October 2013, 9:00 am | BusinessDesk
Oct 23 (BusinessDesk) – The New Zealand dollar jumped to its highest in more than five months after weaker than expected jobs growth in the US reinforced the likelihood that the Federal Reserve will keep monetary stimulus for longer, devaluing the greenback. More >>
While you were sleeping: Tepid US jobs growth, weaker dollar
Wednesday, 23 October 2013, 8:09 am | BusinessDesk
Oct. 23 (BusinessDesk) – US stocks rose and Treasury bond yields fell after figures showed the world’s biggest economy added fewer jobs than expected last month, giving the Federal Reserve no new reason to quickly end stimulus programme. More >>
Pacific Edge at record-high after signing 2nd US deal
Tuesday, 22 October 2013, 6:42 pm | BusinessDesk
Oct. 22 (BusinessDesk) - Shares in Pacific Edge soared to a record high after the Dunedin-based bladder cancer test inventor signed its second deal with a US healthcare network in as many weeks, opening up a sales path to the world's biggest economy. More >>
MARKET CLOSE: NZ shares extend rally; Xero at record
Tuesday, 22 October 2013, 6:06 pm | BusinessDesk
Oct. 22 (BusinessDesk) – New Zealand shares extended their rally, pushing the NZX 50 Index to an all-time high, as newly capitalised Xero closed at a new record and Metlifecare gained to the highest in five months after its biggest shareholder confirmed ... More >>
NZ dollar falls ahead of US jobs as US economy back in focus
Tuesday, 22 October 2013, 5:27 pm | BusinessDesk
Oct. 22 (BusinessDesk) - The New Zealand dollar fell in local trading ahead of the release of US jobs data which was delayed by political jostling over the Federal budget as growth in the world’s biggest economy comes back into focus. More >>
ASX-listed Transfield sells out of NZ partnership for A$30m
Tuesday, 22 October 2013, 5:20 pm | BusinessDesk
Oct. 22 (BusinessDesk) - Transfield Services, the ASX-listed infrastructure specialist, has sold out of its New Zealand industrial construction joint venture with Worley Parsons for A$30 million. More >>
ASX-listed Transfield sells out of NZ partnership for A$30m
Tuesday, 22 October 2013, 5:20 pm | BusinessDesk
Oct. 22 (BusinessDesk) - Transfield Services, the ASX-listed infrastructure specialist, has sold out of its New Zealand industrial construction joint venture with Worley Parsons for A$30 million. More >>
