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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 1095]
Diligent bolsters cash balance as sales growth slows in 3Q
Friday, 11 October 2013, 9:39 am | BusinessDesk
Diligent bolsters cash balance as sales growth slows in 3Q, still grappling with restating books More >>
Contact plans to buy back some retail bonds paying 8 percent
Friday, 11 October 2013, 9:07 am | BusinessDesk
Oct. 11 (BusinessDesk) - Contact Energy, the biggest listed power company, plans to buy back some of its listed retail bonds paying annual interest of 8 percent. More >>
NZ dollar rises vs. yen as US politicians eye debt deal
Friday, 11 October 2013, 8:49 am | BusinessDesk
Oct. 11 (BusinessDesk) – The New Zealand dollar rose to a week high against the yen as investors favour higher risk assets on optimism a political impasse that could have forced the US into debt default may be edging towards a compromise. More >>
CORRECT: Xero shares halted pending capital raising
Friday, 11 October 2013, 8:22 am | BusinessDesk
Oct. 10 (BusinessDesk) - Shares in cloud-based accounting software developer Xero have been halted pending the outcome of a capital raising. More >>
While you were sleeping: Rally on hope for deal
Friday, 11 October 2013, 7:47 am | BusinessDesk
Oct 11 (BusinessDesk) – Equities rallied on optimism that US lawmakers were finally starting to make headway on an agreement to raise the debt ceiling, even if only temporarily, and avoid a potential default. More >>
MARKET CLOSE: NZ shares rise; MRP, Infratil gain on buybacks
Thursday, 10 October 2013, 6:01 pm | BusinessDesk
Oct. 10 (BusinessDesk) – New Zealand shares rose as investors were attracted to Auckland International Airport’s earnings outlook, while Mighty River Power and Infratil rose on plans to return capital via buybacks. More >>
Xero shares halted pending outcome of capital raising
Thursday, 10 October 2013, 5:24 pm | BusinessDesk
Oct. 10 (BusinessDesk) - Shares in cloud-based accounting software developer Xero have been halted pending the outcome of a capital raising. More >>
NZ dollar falls as US stalemate erodes risk appetite
Thursday, 10 October 2013, 5:20 pm | BusinessDesk
Oct. 10 (BusinessDesk) - The New Zealand dollar fell in local trading as the protracted stalemate between US legislators to prevent a debt default keeps investors nervous, and unwilling to back higher-yielding, or riskier, assets. More >>
Wgtn airport to refinance up to $75mln of bonds at 6.25%
Thursday, 10 October 2013, 4:08 pm | BusinessDesk
Oct. 10 (BusinessDesk) – Wellington International Airport is to reduce its bond holdings, seeking to refinance up to $75 million of retail bonds at 6.25 percent to replace $100 million of 7.25 percent bonds maturing next month. More >>
Scott Technology FY profit falls 16%, pays special dividend
Thursday, 10 October 2013, 3:51 pm | BusinessDesk
Scott Technology FY profit falls 16% as strong kiwi erodes margins; pays special centenary dividend More >>
Government dangles right to work in global student push
Thursday, 10 October 2013, 3:47 pm | BusinessDesk
Oct. 10 (BusinessDesk) – International students will be allowed to work part and full-time in New Zealand in the latest government move to double the nation’s income from the education industry to $5 billion by 2025. More >>
Mainzeal receivers realise $22.5 mln
Thursday, 10 October 2013, 3:08 pm | BusinessDesk
Oct. 10 (BusinessDesk) - The receivers for failed construction firm Mainzeal Property and Construction have raised some $22.5 million in asset sales and recoveries from outstanding contracts, and are confident there will be some money left over for the ... More >>
Loyalty NZ, Fly Buys operator, posts 3% profit growth
Thursday, 10 October 2013, 12:52 pm | BusinessDesk
Oct. 10 (BusinessDesk) – Loyalty New Zealand, which operates the Fly Buys loyalty programme used by 53 companies, reported a 3 percent increase in profit growth last year, a period in which it had record redemptions of loyalty points. More >>
MIDDAY UPDATE: MightyRiver looks to prop up ailing shares
Thursday, 10 October 2013, 12:09 pm | BusinessDesk
Oct. 10 (BusinessDesk) – The board of government-controlled power company MightyRiverPower is hoping to prop up the firm’s ailing share price in a programme to buy back up to 1.8 percent of the shares on issue. More >>
OceanaGold raised to ‘accumulate’ by Forsyth Barr
Thursday, 10 October 2013, 12:04 pm | BusinessDesk
OceanaGold raised to ‘accumulate’ by Forsyth Barr as share decline outpaces fall in gold price More >>
NZ manufacturing growth slows as hiring dips
Thursday, 10 October 2013, 11:07 am | BusinessDesk
Oct. 10 (BusinessDesk) – New Zealand manufacturing growth slowed for a second month in September as hiring contracted and manufacturing shrank in Canterbury/Westland, suggesting activity is cooling in a regional economy being fuelled by the post-quake ... More >>
Summerset occupation rights sales grow 19% in 3Q
Thursday, 10 October 2013, 9:30 am | BusinessDesk
Oct. 10 (BusinessDesk) - Summerset Group, the retirement village operator and developer whose managing director is stepping down next year, boosted sales of occupation rights 19 percent in the third quarter. More >>
MRP to spend up to $50M on buyback to underpin sagging stock
Thursday, 10 October 2013, 9:20 am | BusinessDesk
Oct. 10 (BusinessDesk) - MightyRiverPower plans to spend up to $50 million on a buyback over the next 12 months to underpin a stock that has languished since the government sold 49 percent of its holding in an initial public offering in May. More >>
NZ dollar edges up as investors eye US political stalemate
Thursday, 10 October 2013, 9:00 am | BusinessDesk
Oct. 10 (BusinessDesk) – The New Zealand dollar edged up as investors continue to await the outcome of stalled budget talks in the US, as the deadline for lifting the US debt ceiling approaches. More >>
While you were sleeping: Fed to taper in 2013
Thursday, 10 October 2013, 7:36 am | BusinessDesk
Oct 10 (BusinessDesk) – US stocks held on to earlier gains as minutes from the latest US Federal Reserve meeting showed that most policy makers believe the central bank should start tapering its bond-buying program before the end of the year. More >>
