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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 1092]
China warming to TPP, bi-partisan NZ approach vital: Groser
Wednesday, 16 October 2013, 1:43 pm | BusinessDesk
Oct. 16 (BusinessDesk) – New Zealand risks an error of historic proportions if opposition to the Trans-Pacific Partnership sees the country left out of a trade deal that will almost certainly encompass China in due course, Trade Minister Tim ... More >>
Accelerating inflation firms up 2014 rate hike expectations
Wednesday, 16 October 2013, 1:23 pm | BusinessDesk
Oct. 16 (BusinessDesk) - Accelerating New Zealand inflation is firming expectations for an early rate hike next year, with consumer prices rising at the fastest quarterly pace and ended a year-long period where the annual pace was slower than the Reserve ... More >>
Pacific Edge shares surge after deal with US FedMed
Wednesday, 16 October 2013, 12:29 pm | BusinessDesk
Pacific Edge shares surge after it signs agreement with FedMed, gaining access to 40M Americans More >>
MIDDAY UPDATE: Rising inflation firms up March rate hike
Wednesday, 16 October 2013, 12:21 pm | BusinessDesk
Oct. 16 (BusinessDesk) – The fastest pace of quarterly inflation in more than two years has markets firming up their expectations for a March rate hike next year. More >>
RBNZ’s LVRs will make little difference, ANZ's Judge says
Wednesday, 16 October 2013, 11:36 am | BusinessDesk
Oct. 16 (BusinessDesk) – The Reserve Bank’s restrictions on low-deposit home loans won’t have much impact in alleviating pressures in a housing market driven by a shortage of land and high local authority compliance costs, says ANZ New Zealand ... More >>
Fletcher Building sees 2014 earnings of $610M-$650M
Wednesday, 16 October 2013, 11:04 am | BusinessDesk
Oct. 16 (BusinessDesk) - Fletcher Building forecast earnings before interest and tax for 2014 of between $610 million and $650 million, saying there has been no improvement in Australia and weak trading is being compounded by a strong kiwi dollar. More >>
NZ consumer prices rise at fastest quarterly pace in 2 years
Wednesday, 16 October 2013, 10:57 am | BusinessDesk
NZ consumer prices rise at fastest quarterly pace in 2 years, annual inflation back within RBNZ target More >>
FMA cancels FMP Medical Services prospectus
Wednesday, 16 October 2013, 10:02 am | BusinessDesk
Oct 16 (BusinessDesk) – The Financial Markets Authority has cancelled a prospectus offering shares in FMP Medical Services, saying the offer is false or misleading, the first time the regulator has taken such an action. More >>
NZ dollar slips as US debt deadline approaches
Wednesday, 16 October 2013, 9:01 am | BusinessDesk
Oct 16 (BusinessDesk) – The New Zealand dollar slipped as investors lessen their exposure to riskier currencies on concern about a failure by US politicians to reach agreement ahead of tomorrow’s deadline for averting a debt default. More >>
While you were sleeping: Clock ticks on US debt deal
Wednesday, 16 October 2013, 7:27 am | BusinessDesk
Oct 16 (BusinessDesk) – Wall Street dropped as the October 17 deadline for an agreement to lift the US debt ceiling and avoid a government default approached rapidly as lawmakers' bickering continued. More >>
Dairy product prices fall 1.9% at GDT auction
Wednesday, 16 October 2013, 6:25 am | BusinessDesk
Oct. 16 (BusinessDesk) - Prices of dairy products fell for the first time in three sales at the latest GlobalDairyTrade auction, led by butter and whole milk powder. More >>
MARKET CLOSE: NZ shares gain as Xero soars to $20.58
Tuesday, 15 October 2013, 5:59 pm | BusinessDesk
Oct. 15 (BusinessDesk) – New Zealand shares rose, as Xero soared to a record and Diligent Board Member Services rebounded from a two-day slump after a broker reiterated a ‘buy’ recommendation. Pumpkin Patch, which is to drop out of the benchmark ... More >>
Milford kicks $16mln into Xero’s $180 mln capital raising
Tuesday, 15 October 2013, 5:37 pm | BusinessDesk
Oct. 15 (BusinessDesk) - Milford Asset Management, with more than $2 billion under management, participated in Xero’s $180 million capital raising this week, building a 0.7 percent in the stock exchange’s eighth biggest company. More >>
NZ dollar gains as US debt ceiling deadline approaches
Tuesday, 15 October 2013, 5:26 pm | BusinessDesk
NZ dollar gains as US debt ceiling deadline approaches, RBA leaves door open for rate cut More >>
Len Brown confirms 2-year affair with council board member
Tuesday, 15 October 2013, 4:58 pm | BusinessDesk
Oct. 15 (BusinessDesk) – Len Brown, who was re-elected mayor of New Zealand’s largest city with an increased majority last weekend, has admitted to a two-year affair with a woman who served on a council advisory board. More >>
Telco intercept bill tweaks leave in catch-all definitions
Tuesday, 15 October 2013, 4:24 pm | BusinessDesk
Oct. 15 (BusinessDesk) - Last-minute tweaks to legislation setting out the obligations for telecommunications firms to provide government surveillance agencies access to their networks has left in catch-all definitions that threaten to impose increased ... More >>
Kiwi to remain supported as growth accelerates: AMP Capital
Tuesday, 15 October 2013, 3:14 pm | BusinessDesk
Oct. 15 (BusinessDesk) – The New Zealand dollar, which has gained 2.6 percent the past month, is likely to continue to find favour on the back of an improving economy, according to investment fund manager AMP Capital New Zealand. More >>
Metlifecare investigates building issues with Auckland Links
Tuesday, 15 October 2013, 12:29 pm | BusinessDesk
Oct. 15 (BusinessDesk) – Metlifecare, New Zealand’s second-largest listed retirement village operator, is investigating building problems with an Auckland village it acquired as part of a merger with Private Life Care Holdings last year. More >>
Methven confirms recovery with 21% gain in 1H profit
Tuesday, 15 October 2013, 12:21 pm | BusinessDesk
Oct. 15 (BusinessDesk) – Methven, the tapware maker, has confirmed the earnings recovery it flagged in July, posting a 21 percent jump in first-half profit on a pickup in trading in New Zealand and the UK. More >>
MIDDAY UPDATE: Bank of Tokyo wary of Solid Energy deal
Tuesday, 15 October 2013, 12:13 pm | BusinessDesk
Oct. 15 (BusinessDesk) – Bank of Tokyo is attempting to block a government deal to bail-out its Solid Energy coal-mining unit which would see the Japanese financial institution write off $16.3 million. More >>
