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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 1089]
Tru-Test mulling three acquisitions, may raise more capital
Tuesday, 22 October 2013, 3:45 pm | BusinessDesk
Oct. 22 (BusinessDesk) – Tru-Test Corp, which doubled in size after buying a dairy industry equipment business, is considering three offshore acquisitions that would extend its exposure to the dairy industry, says managing director Greg Muir. More >>
Tax laws favour foreign investors in infrastructure: Vector
Tuesday, 22 October 2013, 3:41 pm | BusinessDesk
Oct. 22 (BusinessDesk) – Auckland electricity, gas and telecommunications network owner Vector says it is looking for opportunities in Australia rather than for acquisitions in New Zealand, where it says the tax laws favour foreign owners of utility assets. More >>
Wrightson names Agria’s Lai as chairman
Tuesday, 22 October 2013, 3:16 pm | BusinessDesk
Oct. 22 (BusinessDesk) – PGG Wrightson, the rural services company controlled by Agria Corp, named the Chinese company’s founder Alan Lai as its new chairman, replacing John Anderson, and forecast a lift in full-year operating earnings. More >>
Tru-Test FY sales rise 12 percent, profit triples on UK sale
Tuesday, 22 October 2013, 2:17 pm | BusinessDesk
Oct 22 (BusinessDesk) – Tru-Test Corp, which doubled in size after buying a dairy industry equipment business, posted a 12 percent increase in full-year sales and said profit almost tripled on a gain from the sale of a UK subsidiary. More >>
MIDDAY UPDATE: Zespri comes under SFO’s gaze
Tuesday, 22 October 2013, 12:15 pm | BusinessDesk
Oct. 22 (BusinessDesk) – Legislated export marketing monopolist Zespri International is being investigated by the Serious Fraud Office, though no-one’s saying what for. More >>
Quadrant to buy APN's outdoor ad JV stake for A$69M
Tuesday, 22 October 2013, 12:00 pm | BusinessDesk
APN to sell out of outdoor advertising JV with Quadrant for A$69 mln By Paul McBeth More >>
Telecom confirms possible sale of AAPT unit, no word on HTA
Tuesday, 22 October 2013, 11:30 am | BusinessDesk
Oct. 22 (BusinessDesk) - Telecom Corp has confirmed it’s considering hocking off its AAPT unit in Australia as it transforms into a service-based telecommunications operator, though hasn’t commented on reports it may sell its stake in mobile business ... More >>
NZ seeks 'all of government' proposals on building materials
Tuesday, 22 October 2013, 11:23 am | BusinessDesk
NZ government seeks to save money on building materials as annual spending set to double More >>
SFO confirms preliminary Zespri investigation
Tuesday, 22 October 2013, 11:17 am | BusinessDesk
Oct. 22 (BusinessDesk) - The Serious Fraud Office has confirmed it’s looking at legislated export marketing monopolist Zespri International, though is being tight-lipped on any further details. More >>
NZ dollar declines ahead of key US jobs data
Tuesday, 22 October 2013, 8:46 am | BusinessDesk
Oct. 22 (BusinessDesk) – The New Zealand dollar declined after trading in a narrow range overnight as investors await the release of key US jobs data which was delayed by a partial government shutdown. More >>
While you were sleeping: US jobs data awaited
Tuesday, 22 October 2013, 8:07 am | BusinessDesk
While you were sleeping: US jobs data awaited as Evans sees ‘tough call’ on tapering More >>
Govt lobs $5M in America’s Cup kitty
Monday, 21 October 2013, 5:58 pm | BusinessDesk
Oct. 21 (BusinessDesk) – The government will make an initial $5 million payment to help Emirates Team New Zealand retain key crew members ahead of a decision on whether to mount another bid for The America’s Cup. More >>
Key drops hints on coalition partners Dunne, Craig favoured
Monday, 21 October 2013, 5:48 pm | BusinessDesk
Oct. 21 (BusinessDesk) – Prime Minister John Key gave crucial hints today to his thinking on coalition arrangements after the 2014 election, including no interest in discussing New Zealand First leader Winston Peters’s “bottom line” requirements ... More >>
MARKET CLOSE: NZ shares rally; Metlifecare gains
Monday, 21 October 2013, 5:38 pm | BusinessDesk
Oct. 21 (BusinessDesk) – New Zealand shares rallied, pushing the NZX 50 Index to a new record, after Metlifecare’s biggest shareholder said it would exit its stake, removing an overhang and helping sentiment for the retirement village sector. Ryman ... More >>
NZ dollar little changed before delayed US data
Monday, 21 October 2013, 5:11 pm | BusinessDesk
NZ dollar little changed as delayed US data likely to set view on Fed tapering More >>
Telecom’s AAPT unit up for sale again, AFR reports
Monday, 21 October 2013, 4:54 pm | BusinessDesk
Oct. 21 (BusinessDesk) - Telecom Corp is sniffing the wind for potential buyers of Australian AAPT unit again as it overhauls its business under new chief executive Simon Moutter, according to media reports. More >>
Vero found liable under Marac policy covering staff misdeeds
Monday, 21 October 2013, 4:13 pm | BusinessDesk
Oct. 21 (BusinessDesk) – Suncorp Group’s Vero unit has been found liable under a historic insurance policy for Marac Finance that covered dishonest acts by employees. More >>
CORRECT: MetService more than doubles 2013 annual profit
Monday, 21 October 2013, 2:36 pm | BusinessDesk
Oct. 21 (BusinessDesk) – Meteorological Service of New Zealand, the nation’s state-owned weather forecaster, more than doubled annual profit in 2013 as it reduced costs and renewed key contracts in a challenging market. More >>
Tachikawa in breach of bank covenants ahead of receivership
Monday, 21 October 2013, 2:33 pm | BusinessDesk
Oct. 21 (BusinessDesk) - Tachikawa Forest Products (NZ), the owner of the Rotorua sawmill tipped into receivership last week, was in breach of its banking covenants for the past two years, and had its 2012 accounts tagged by auditors over a working ... More >>
MetService more than doubles 2013 annual profit
Monday, 21 October 2013, 1:07 pm | BusinessDesk
Oct. 21 (BusinessDesk) – Meteorological Service of New Zealand, the nation’s state-owned weather forecaster, more than doubled annual profit in 2013 as it reduced costs and renewed key contracts in a challenging market. More >>
