BusinessDesk

NZ Dollar Outlook: Kiwi may weaken this week

Monday, 30 September 2013, 1:43 pm | BusinessDesk

Sept. 30 (BusinessDesk) – The New Zealand dollar may decline this week as investors shun growth sensitive currencies amid a possible US government shutdown. More >>

NZ business confidence rises to new 5-year high

Monday, 30 September 2013, 1:41 pm | BusinessDesk

NZ business confidence rises to new 5-year high, firms see higher profits, more hiring More >>

MIDDAY UPDATE: Housing consent trend weakens

Monday, 30 September 2013, 12:15 pm | BusinessDesk

Sept. 30 (BusinessDesk) – New Zealand home building consents rose for the first time in three months in August although the government statistician’s trend series of data shows activity may be slowing for the first time since March 2011. More >>

Quick Labour-Greens power policy implementation possible

Monday, 30 September 2013, 12:03 pm | BusinessDesk

Sept. 30 (BusinessDesk) – The main elements of the Labour and Green parties’ policies to reform the electricity market could be in place within a year or two, although ironing out the detail would take considerably longer, says First NZ Capital ... More >>

NZ employment confidence slips in third quarter

Monday, 30 September 2013, 11:54 am | BusinessDesk

Sept. 30 (BusinessDesk) – New Zealand employment confidence slipped in the third quarter, ending four consecutive quarterly rises, as expectations of job opportunities fell. More >>

NZ home building consents rise 1.4% in August, trend softens

Monday, 30 September 2013, 11:49 am | BusinessDesk

Sept 30 (BusinessDesk) – New Zealand home building consents rose for the first time in three months in August although the government statistician’s trend series of data shows activity may be slowing for the first time since March 2011. More >>

UPDATED: Guinness Peat exits Tower stake for $118 mln

Monday, 30 September 2013, 10:52 am | BusinessDesk

Sept 30 (BusinessDesk) - Guinness Peat Group has sold its stake in Tower for about $118 million leaving the UK threadmaker Coats as its sole investment and signalling the end of its portfolio divestment. More >>

GPG sells Tower stake for $118M, leaving it with Coats

Monday, 30 September 2013, 10:40 am | BusinessDesk

Sept 30 (BusinessDesk) - Guinness Peat Group has sold its stake in Tower for about $118 million leaving the UK threadmaker Coats as its sole investment and signalling the end of its portfolio divestment. More >>

NZ dollar falls ahead of possible US govt shutdown

Monday, 30 September 2013, 8:55 am | BusinessDesk

Sept. 30 (BusinessDesk) – The New Zealand dollar weakened as investors favoured less risky currencies amid rising political uncertainty ahead of a potential US government shutdown as Congress fails to reach agreement on the budget. More >>

World Week Ahead: Showdown or shutdown?

Sept. 30 (BusinessDesk) – All eyes are on the partisan political brinkmanship in the US Congress as the deadline for a budget deal to avert a government shutdown at midnight on Monday in Washington is closing in rapidly. More >>

Postie Plus plunges deeper into the red with $11.6 mln loss

Friday, 27 September 2013, 5:57 pm | BusinessDesk

Postie Plus plunges deeper into the red with $11.6 mln loss, faces tight cash flow More >>

MARKET CLOSE: NZ shares rise to record, Pumpkin Patch leads

Friday, 27 September 2013, 5:47 pm | BusinessDesk

MARKET CLOSE: NZ shares rise to a record, Pumpkin Patch leads gains after returning to annual profit More >>

NZ dollar heads for 1% weekly fall

Friday, 27 September 2013, 5:41 pm | BusinessDesk

Sept. 27 (BusinessDesk) - The New Zealand dollar is heading for a 1 percent weekly decline as investors stay glued to US economic data after the Federal Reserve put plans to taper its monetary stimulus programme on hold. More >>

Fletcher Building faces probe into plasterboard supply deals

Friday, 27 September 2013, 5:03 pm | BusinessDesk

Sept. 27 (BusinessDesk) - Fletcher Building, the biggest listed company in New Zealand, faces a probe into potentially anti-competitive behaviour in its plasterboard supply arrangements. More >>

Genesis mothballs second Huntly unit earlier than expected

Friday, 27 September 2013, 4:11 pm | BusinessDesk

Sept. 27 (BusinessDesk) – Genesis Energy is to mothball the second of four generating units at its ageing Huntly power station more than a year earlier than previously signalled as flat demand and a surge in new, lower cost generation has made it surplus ... More >>

Pumpkin Patch today’s best NX50 performer as profit returns

Friday, 27 September 2013, 3:37 pm | BusinessDesk

Sept. 27 (BusinessDesk) – Shares in Pumpkin Patch are the best performer on New Zealand’s benchmark index today as the children’s clothing retailer turned to a profit in 2013 after posting a loss the year earlier when it reorganised its business. More >>

Air NZ shares move ahead of extension to share buyback

Friday, 27 September 2013, 3:35 pm | BusinessDesk

Sept. 27 (BusinessDesk) – Shares of Air New Zealand rose 6 cents today to trade at $1.50, ahead of the announcement at the annual general meeting in Auckland that the company is to extend its share buyback scheme for a further year. More >>

House builders hurt by looming home loan restrictions

Friday, 27 September 2013, 2:26 pm | BusinessDesk

Sept. 27 (BusinessDesk) – House builders may be hurt by Reserve Bank mortgage lending restrictions which take effect next week and the nation’s building lobby group wants new home construction to be excluded from the rules. More >>

RBNZ’s Wheeler reiterates currency, housing dilemma

Friday, 27 September 2013, 1:36 pm | BusinessDesk

Sept. 27 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has reiterated that his two biggest challenges are the over-valued currency and housing market, in the 2013 annual report, which shows the central bank made a dividend payment of $175 ... More >>

Vital Healthcare to spend A$29.9 mln on hospital upgrades

Friday, 27 September 2013, 11:05 am | BusinessDesk

Sept. 27 (BusinessDesk) - Vital Healthcare Property Trust, New Zealand’s largest listed medical and healthcare property investor, plans to spend A$28 million to redevelop a hospital in Sydney and A$1.9 million to extend a hospital near Newcastle, to meet ... More >>