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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 1093]
No hint on capital return from Contact Energy AGM
Tuesday, 15 October 2013, 11:25 am | BusinessDesk
Oct. 15 (BusinessDesk) – Contact Energy shareholders hoping for news of a capital return or increased dividends got slim pickings from the company’s annual meeting in Christchurch, although chief executive Dennis Barnes had good news for customers, ... More >>
Bank of Tokyo resists Solid Energy debt restructuring
Tuesday, 15 October 2013, 10:49 am | BusinessDesk
Oct. 15 (BusinessDesk) – Japanese financial giant Bank of Tokyo is opposing the debt restructuring deal announced on Oct. 1 to help get state-owned coal miner Solid Energy back on its feet, but may be forced to take the deal anyway, papers lodged ... More >>
Wage, price pressures ‘inevitable’ from building boom: RBNZ
Tuesday, 15 October 2013, 10:40 am | BusinessDesk
Oct. 15 (BusinessDesk) – The building boom looming in Christchurch and Auckland in the next three years will inevitably put upward pressure on wages and prices in the construction sector and could spill over into general inflation, driving up interest ... More >>
Xero cracks $20 a share after capital raising
Tuesday, 15 October 2013, 10:31 am | BusinessDesk
Xero cracks $20 a share after capital raising, now worth more than SkyCity, Sky TV More >>
Fisher Funds says takeover bid undervalues Abano
Tuesday, 15 October 2013, 9:26 am | BusinessDesk
Oct. 15 (BusinessDesk) - Fisher Funds Management, which took over Tower Investments earlier this year, says a takeover bid for Abano Healthcare Group undervalues the specialist medical investor. More >>
Infratil sells Manston Airport for 350,000 British pounds
Tuesday, 15 October 2013, 9:13 am | BusinessDesk
Oct. 15 (BusinessDesk) – Infratil, the Wellington-based infrastructure investor, has agreed to sell Manston Airport in the UK for 350,000 British pounds to Stagecoach Group co-founder Ann Gloag and her brother Brian Souter. More >>
Christchurch Airport targeting excessive profits: regulator
Tuesday, 15 October 2013, 8:52 am | BusinessDesk
Oct. 15 (BusinessDesk) - Christchurch International Airport’s proposed prices over the next two decades are significantly higher than the Commerce Commissions’ view of what’s acceptable, and tougher disclosure requirements have had little impact ... More >>
NZ dollar gains as US debt deadline weighs on greenback
Tuesday, 15 October 2013, 8:45 am | BusinessDesk
NZ dollar gains on concern US politicians yet to reach agreement as debt ceiling deadline looms More >>
While you were sleeping: Bullish on US debt talks
Tuesday, 15 October 2013, 7:15 am | BusinessDesk
Oct 15 (BusinessDesk) – Optimism that US lawmakers might be nearer to breaking their impasse over increasing the debt ceiling and re-opening the federal government is lifting investor sentiment. More >>
Adams extends olive branch in late tweaks to intercept bill
Monday, 14 October 2013, 6:25 pm | BusinessDesk
Oct. 14 (BusinessDesk) - Communications Minister Amy Adams is offering an olive branch to the telecommunications sector with some late tweaks to legislation setting out their obligations to provide government surveillance agencies with access to their ... More >>
MARKET CLOSE: NZ shares fall as Diligent extends slump
Monday, 14 October 2013, 6:02 pm | BusinessDesk
Oct. 14 (BusinessDesk) – New Zealand shares fell as Diligent Board Member Services was punished for a second day over its pace of sales growth and SkyCity Entertainment Group slipped on bigger than usual volumes. Xero soared to a record close after raising ... More >>
Long serving Infratil director, chairman David Newman dies
Monday, 14 October 2013, 5:35 pm | BusinessDesk
Oct. 14 (BusinessDesk) - David Newman, a director of Infratil for almost two decades and chairman for the past nine years, has died in Wellington, the investment company said. More >>
SFO launches probe into North Shore property development
Monday, 14 October 2013, 5:35 pm | BusinessDesk
Oct. 14 (BusinessDesk) - The Serious Fraud Office has launched an investigation into a North Shore property development which has left foreign investors out of pocket after the companies went broke and the land sold to new developers. More >>
Acurity sees improvement in 1H earnings on cost cutting
Monday, 14 October 2013, 5:17 pm | BusinessDesk
Oct. 14 (BusinessDesk) - Acurity Health Group, the private hospital group formerly known as Wakefield Health, boosted underlying earnings by as much as 23 percent as it managed to strip out costs faster than its revenue declined. More >>
NZ dollar edges up in thin trading as US stalemate continues
Monday, 14 October 2013, 5:15 pm | BusinessDesk
Oct. 14 (BusinessDesk) - The New Zealand dollar edged up as holidays in major markets kept trading light and amid the ongoing stand-off between US legislators which is threatening a default on debt obligations of the world’s biggest economy. More >>
Comvita FY eranings under pressure from honey prices: broker
Monday, 14 October 2013, 2:28 pm | BusinessDesk
Oct. 14 (BusinessDesk) – Comvita, which produces health products from manuka honey, may not increase earnings in the current financial year as higher honey prices crimp margins, brokerage Craigs Investment Partners said in a note. More >>
NZ median house price returns to March record $400,000
Monday, 14 October 2013, 12:37 pm | BusinessDesk
Oct. 14 (BusinessDesk) - New Zealand’s median house price returned to its March record last month, with gains in both Auckland and Canterbury, while the number of properties sold jumped by about a fifth in the last month before restrictions on ... More >>
NZ Dollar Outlook: Kiwi likely to stay in limbo
Monday, 14 October 2013, 12:30 pm | BusinessDesk
NZ Dollar Outlook: Kiwi likely to stay in limbo as outcome of US budget, debt talks uncertain More >>
MIDDAY UPDATE: Xero flush with cash after capital raising
Monday, 14 October 2013, 12:13 pm | BusinessDesk
Oct. 14 (BusinessDesk) – Local tech darling Xero is flush with cash after raising $180 million from existing investors, a deal which prompted another jump in the share price amid confidence in the future prospects of the cloud-based accounting software ... More >>
Lane Walker Rudkin owner Anderson pleads guilty to fraud
Monday, 14 October 2013, 11:59 am | BusinessDesk
Oct. 14 (BusinessDesk) - Kenneth Anderson, a former director and owner of failed clothing maker Lane Walker Rudkin Industries, has pleaded guilty to fraud charges today, leaving his unnamed co-accused to stand trial. More >>
