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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 1091]
While you were sleeping: IBM, Goldman Sachs fall short
Friday, 18 October 2013, 4:56 am | BusinessDesk
Oct 18 (BusinessDesk) – Wall Street was mixed amid disappointing earnings from companies including IBM, Goldman Sachs and eBay, and a last-minute deal by US lawmakers that ends the government shutdown and lifts the debt ceiling for now. More >>
MARKET CLOSE: NZ shares gain with global rally on debt deal
Thursday, 17 October 2013, 5:42 pm | BusinessDesk
Oct. 17 (BusinessDesk) – New Zealand shares rose, as part of a global rally in equity markets after US politicians agreed a deal which would pass the US budget and lift the nation’s borrowing limit. Xero soared above $25 and Air New Zealand ... More >>
Key competition test needs rewrite, says Comcom head
Thursday, 17 October 2013, 5:14 pm | BusinessDesk
Oct 17 (BusinessDesk) - New Zealand's competition law relies on a test of competitive behaviour that no other country uses and needs reform, a high level conference organised by the Commerce Commission has heard. More >>
NZ dollar holds near 5-month high as US default threat eases
Thursday, 17 October 2013, 5:10 pm | BusinessDesk
Oct. 17 (BusinessDesk) - The New Zealand dollar held near a five-month high after US politicians found a compromise pushing its disputed Federal budget and debt limit into next year. More >>
Intervention on copper prices a windfall for Chorus: Vector
Thursday, 17 October 2013, 4:12 pm | BusinessDesk
Oct. 17 (BusinessDesk) - The government’s proposed intervention limiting the cut in wholesale prices on Chorus’s copper network will grant the telecommunications company “windfall gains”, according to fellow regulated monopoly network operator ... More >>
Cavalier hopes rising wool supply will alleviate price spike
Thursday, 17 October 2013, 3:43 pm | BusinessDesk
Oct. 17 (BusinessDesk) – Cavalier Corp. is hoping an increase of wool coming onto the market during main shear will arrest a spike in prices of coarse wool in a market where the carpet maker has limited ability to raise its own prices. More >>
NZ consumer confidence gains in October
Thursday, 17 October 2013, 1:37 pm | BusinessDesk
Oct. 17 (BusinessDesk) – New Zealand consumer confidence rose this month, adding to signs the economy is growing at a faster clip, with the strongest recording for kiwis feeling better off than a year ago since January 2008. More >>
National grid operator pinged over Kinleith shutdown
Thursday, 17 October 2013, 1:27 pm | BusinessDesk
Oct. 17 (BusinessDesk) – The Electricity Rulings Panel has handed down heavy sanctions against the national grid System Operator in a case involving an unplanned outage that closed Carter Holt Harvey’s Kinleith pulp and paper mill. More >>
Diligent pushes out timeline to restate accounts
Thursday, 17 October 2013, 1:11 pm | BusinessDesk
Oct. 17 (BusinessDesk) - Diligent Board Member Services, the governance software developer censured for a raft of administrative blunders, says it will take longer to restate its books than previously thought, though it doubts the stock exchange ... More >>
MIDDAY UPDATE: Govt sticks with status quo on KiwiSaver
Thursday, 17 October 2013, 12:12 pm | BusinessDesk
Oct. 17 (BusinessDesk) – The government has stuck with the conservative setting for default KiwiSaver funds having reviewed the seven-year-old savings scheme, deciding introducing a tiered approach linked to a member’s age. More >>
Restaurant Brands posts flat 1H earnings, sees improvement
Thursday, 17 October 2013, 11:16 am | BusinessDesk
Oct. 17 (BusinessDesk) - Restaurant Brands New Zealand, which operates four fast food chains, posted flat first half earnings, but said an improvement in the second half would see full-year earnings rise as much as 7.3 percent. More >>
Abano extends Wellington pathology contract by a year
Thursday, 17 October 2013, 10:35 am | BusinessDesk
Oct. 17 (BusinessDesk) - Abano Healthcare, the specialist medical investor facing a takeover bid from interests associated with its biggest shareholder, has extended its contract to provide Wellington district health boards with pathology services ... More >>
Govt keeps conservative mandate for default KiwiSaver funds
Thursday, 17 October 2013, 9:23 am | BusinessDesk
Oct. 17 (BusinessDesk) - The government has settled on keeping the existing investment mandate for default KiwiSaver providers to manage funds conservatively, fending off attempts to implement a tiered approach based on members’ age. More >>
Hutson fails to respond to Abano buyout offer
Thursday, 17 October 2013, 9:22 am | BusinessDesk
Oct. 17 (BusinessDesk) – Abano Healthcare says shareholder Peter Hutson has failed to respond to its offer to buy his half stake in their audiology venture and his alternative proposal to take over the specialist medical investors is “rife with ... More >>
NZ dollar jumps to five-month high on US deal
Thursday, 17 October 2013, 8:45 am | BusinessDesk
NZ dollar jumps to five-month high as risky assets find favour as US avoids debt default More >>
Fletcher management changes 80% complete: Adamson
Thursday, 17 October 2013, 8:45 am | BusinessDesk
Oct. 17 (BusinessDesk) - Fletcher Building chief executive Mark Adamson says he is about “80 percent” through his management overhaul at New Zealand’s biggest listed company after 12 months in the job and is mulling whether to split out home ... More >>
While you were sleeping: US senators agree on deal
Thursday, 17 October 2013, 7:04 am | BusinessDesk
Oct 17 (BusinessDesk) – Wall Street rallied as US Senate leaders agreed to the terms of a deal that would end the government's shutdown and prolong the government's capacity to borrow until February. The House is set to vote on the agreement today. More >>
MARKET CLOSE: NZ shares gain as Xero surge continues
Wednesday, 16 October 2013, 6:04 pm | BusinessDesk
Oct. 16 (BusinessDesk) – New Zealand stocks gained again, led by accounting software global pretender Xero and supported by Fletcher Building reaffirming profit expectations for this year, with a little upside. More >>
NZ dollar little changed; US impasse cancels out NZ CPI
Wednesday, 16 October 2013, 5:18 pm | BusinessDesk
Oct. 16 (BusinessDesk) - The New Zealand dollar was little changed as markets continue to wait for US politicians to compromise over the Federal budget, overshadowing local data showing the fastest pace of quarterly inflation in more than two years. More >>
John Banks resigns as he faces electoral fraud trial
Wednesday, 16 October 2013, 5:05 pm | BusinessDesk
Oct. 16 (BusinessDesk) – The Act Party’s leader and sole Member of Parliament, John Banks, has resigned as a Minister after an Auckland District Court judge sent Banks for trial over the handling of political donations. More >>
