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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 1094]
KiwiSaver tax, low contributions holding back pension income
Monday, 14 October 2013, 11:48 am | BusinessDesk
Oct. 14 (BusinessDesk) - Taxes on KiwiSaver returns and low compulsory levels of contributions are holding back New Zealanders from achieving a comfortable retirement, according to a lobby group for the country’s fund managers and insurers. More >>
NZ services sector picks up pace to record September level
Monday, 14 October 2013, 10:56 am | BusinessDesk
Oct. 14 (BusinessDesk) – New Zealand’s services sector, which accounts for almost two-thirds of the economy, accelerated to a record for a September month, led by new orders/business. More >>
UPDATE2: Xero shares soar after capital raising
Monday, 14 October 2013, 10:32 am | BusinessDesk
Oct. 14 (BusinessDesk) – Rod Drury, founder of Xero, says the cloud-based accounting company $180 million capital raising from key US shareholders sends a strong signal to rivals that there are no constraints on the funds it needs to win global market ... More >>
Energy Mad censured for late disclosure of profit warning
Monday, 14 October 2013, 9:59 am | BusinessDesk
Oct. 14 (BusinessDesk) – Energy Mad, a maker of energy efficient lightbulbs which has failed to meet prospectus forecasts, was censured by the NZ Markets Disciplinary Tribunal and fined $30,000 for breaching listing rules by not disclosing a profit ... More >>
Drury says Xero fund raising sends strong signal to rivals
Monday, 14 October 2013, 9:46 am | BusinessDesk
Oct. 14 (BusinessDesk) – Rod Drury, founder of Xero, says the cloud-based accounting company $180 million capital raising from key US shareholders sends a strong signal to rivals that there are no constraints on the funds it needs to win global market ... More >>
Xero raises $180M selling shares at premium to Matrix, Thiel
Monday, 14 October 2013, 9:09 am | BusinessDesk
Oct. 14 (BusinessDesk) – Xero, the cloud-based accounting company whose shares have more than doubled this year, raised $180 million selling shares to Matrix Capital Management, Peter Thiel-backed Valar Ventures and other investors to ensure it can ... More >>
NZ dollar weakens as safe haven currencies favoured
Monday, 14 October 2013, 8:43 am | BusinessDesk
Oct. 14 (BusinessDesk) – The New Zealand dollar fell as investors favoured so-called safe-haven currencies on concern that US politicians have yet to reach agreement on the budget as the deadline looms this week for raising the nation’s debt limit ... More >>
World Week Ahead: US debt talks turn frosty
Monday, 14 October 2013, 7:15 am | BusinessDesk
Oct. 14 (BusinessDesk) – US lawmakers’ wrangling over the debt ceiling and budget will remain centre stage in the coming days, pushing earnings season into the background. More >>
MARKET CLOSE NZ shares rise, Z Energy joins NZX50
Friday, 11 October 2013, 5:51 pm | BusinessDesk
Oct 11 (BusinessDesk) - New Zealand shares rose along with other global markets on optimism US politicians are moving closer to resolving a stalemate that has caused a partial government shutdown and the possibility of a debt default looming. More >>
MARKET CLOSE NZ shares rise, Z Energy joins NZX50
Friday, 11 October 2013, 5:50 pm | BusinessDesk
Oct 11 (BusinessDesk) - New Zealand shares rose along with other global markets on optimism US politicians are moving closer to resolving a stalemate that has caused a partial government shutdown and the possibility of a debt default looming. More >>
MARKET CLOSE NZ shares rise, Z Energy joins NZX50
Friday, 11 October 2013, 5:50 pm | BusinessDesk
Oct 11 (BusinessDesk) - New Zealand shares rose along with other global markets on optimism US politicians are moving closer to resolving a stalemate that has caused a partial government shutdown and the possibility of a debt default looming. More >>
NZ dollar little changed amid US political shenanigans
Friday, 11 October 2013, 5:23 pm | BusinessDesk
Oct. 11 (BusinessDesk) - The New Zealand dollar was little changed this week as US policymakers continued to bicker over the Federal budget and looming breach of the debt ceiling, leaving financial markets nervous about taking positions. More >>
NZX lashes inaccuracies in Chorus solvency coverage
Friday, 11 October 2013, 3:48 pm | BusinessDesk
Oct. 11 (BusinessDesk) - NZX, the stock market operator and supervisor, has rapped media reports in latching on to a lobby group’s comments on listed company Chorus’s solvency. More >>
Michael Hill first quarter revenue rises 8.7 percent
Friday, 11 October 2013, 1:30 pm | BusinessDesk
Oct 11 (BusinessDesk) – Michael Hill International, the jewellery chain that bears its founder’s name, increased revenue 8.7 percent in the first quarter as sales edged up in its largest market in Australia and jumped in Canada, while momentum ... More >>
Tui deal should have shifted NZOG share price: Clare Capital
Friday, 11 October 2013, 12:46 pm | BusinessDesk
Oct. 11 (BusinessDesk) – Last week’s purchase of Mitsui E&P’s 35 percent interest in the Tui oil and gas field was at a “really cheap price”, but has inexplicably failed to significantly move the share price of the main apparent beneficiary, ... More >>
MIDDAY UPDATE: Diligent shares drop as accounting fix drags
Friday, 11 October 2013, 12:06 pm | BusinessDesk
Oct. 11 (BusinessDesk) – Shares in governance software maker Diligent Board Member Services slumped almost 12 percent today after the New York-based and locally listed firm said it was still getting its books in order, while delivering a truncated update. More >>
NZF to sell home loans stake, notes for $1.25M to Resimac
Friday, 11 October 2013, 11:48 am | BusinessDesk
NZF agrees to sell home loans stake, subordinated notes for $1.25M to Resimac Financial Services More >>
NZ food prices unchanged in Sept: milk up, fresh veges down
Friday, 11 October 2013, 11:33 am | BusinessDesk
Oct 11 (BusinessDesk) - New Zealand food prices were unchanged in September as cheaper vegetables coming into season were offset by more expensive fresh milk and pork. More >>
Comvita turned to a loss in 1H, sees bigger FY profit
Friday, 11 October 2013, 10:30 am | BusinessDesk
Oct. 11 (BusinessDesk) – Comvita, which produces health products from manuka honey, said it posted a first-half loss on increased price competition in Australia and the UK and concern over New Zealand food safety in Hong Kong, however it expects ... More >>
SFO confirms probe into Auckland Transport procurement
Friday, 11 October 2013, 9:43 am | BusinessDesk
Oct. 11 (BusinessDesk) - The Serious Fraud Office has confirmed it is investigating procurement irregularities at Auckland Transport. More >>
