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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 1106]
Something goes right for govt on broadband policy
Wednesday, 18 September 2013, 5:16 pm | BusinessDesk
Sept. 18 (BusinessDesk) – Embattled Communications Minister Amy Adams has caught a small break in the form of the rejection by the Waitangi Tribunal of an attempt to have the government’s 4G mobile broadband spectrum auction reviewed. More >>
NZ dollar slips from four-month high as Fed awaited
Wednesday, 18 September 2013, 5:08 pm | BusinessDesk
Sept. 18 (BusinessDesk) - The New Zealand dollar fell from a four-month high in local trading as investors ready themselves for a presumed start to the Federal Reserve’s tapering of its money printing programme. More >>
Top 20 Black Caps to get reprieve from ACC levies
Wednesday, 18 September 2013, 3:58 pm | BusinessDesk
Top 20 Black Caps to get reprieve from ACC levies while other player costs rise More >>
Treasury displays ‘ideological right wing’ mindset: Greens
Wednesday, 18 September 2013, 2:06 pm | BusinessDesk
Sept 18 (BusinessDesk) – New Zealand’s Treasury department, the government’s lead economic policy advisor, was accused of expressing ideological right wing views in a parliamentary select committee for calling tax a “burden”. More >>
Restaurant Brands’ 2Q sales rise 6.2%, led by Carl’s Jr
Wednesday, 18 September 2013, 2:03 pm | BusinessDesk
Sept. 18 (BusinessDesk) – Restaurant Brands New Zealand, the listed fast-food chain operator, reported a 6.2 percent lift in second-quarter sales, mainly driven by the contribution from its Carl’s Jr outlets while revenue from Starbucks Coffee fell. More >>
MIDDAY UPDATE: Drought weighs on current account
Wednesday, 18 September 2013, 12:02 pm | BusinessDesk
Sept. 18 (BusinessDesk) – The country’s worst drought in seven decades weighed on New Zealand’s balance of payments in the second three months of the year, as the arid conditions eroded agriculture exports. More >>
NZ current account deficit widens in 2Q on drought effects
Wednesday, 18 September 2013, 11:14 am | BusinessDesk
Sept. 18 (BusinessDesk) – New Zealand’s current account deficit came in at a seasonally adjusted $2.2 billion for the three months to June 30, reflecting the impact on agricultural exports of the late summer drought. More >>
Tainui appoints ex-Heartland exec Stephen
Wednesday, 18 September 2013, 10:47 am | BusinessDesk
Sept. 18 (BusinessDesk) - Tainui Group Holdings, which manages the commercial interests of Waikato-Tainui Te Kauhanganui Inc, has appointed former Heartland New Zealand executive Craig Stephen to oversee its shift to attract bigger and faster investment ... More >>
Datacom reports 43% net profit lift, outpacing sales growth
Wednesday, 18 September 2013, 9:57 am | BusinessDesk
Sept. 18 (BusinessDesk) – Privately held New Zealand information and technology leader Datacom Group is reporting it improved net profit after tax by 43 percent in the year to March 31, on a 10 percent lift in total revenues. More >>
PGG Wrightson buys water businesses for undisclosed sum
Wednesday, 18 September 2013, 9:19 am | BusinessDesk
Sept. 18 (BusinessDesk) - PGG Wrightson, the rural services firm controlled by China’s Agria Corp, has agreed to buy water businesses Water Dynamics and Aquaspec from Switzerland’s Pentair for an undisclosed sum. More >>
NZ dollar climbs to 4-month high as investors chase yield
Wednesday, 18 September 2013, 8:48 am | BusinessDesk
NZ dollar rises to four-month high as lure of higher interest rates attracts investors More >>
While you were sleeping: Wall Street up as Fed meets
Wednesday, 18 September 2013, 7:41 am | BusinessDesk
Sept 18 (BusinessDesk) – Wall Street rose as the Federal Open Market Committee began a two-day policy meeting that is expected to mark the start of a gradual reduction in its monthly bond-buying program. More >>
Dairy prices rise 0.3%, volumes ebb in latest GDT auction
Wednesday, 18 September 2013, 6:48 am | BusinessDesk
Sept. 18 (BusinessDesk) - Prices of dairy products rose in the latest GlobalDairyTrade auction while volumes continued to fall from record levels reached last month. More >>
MARKET CLOSE: NZX 50 holds at record as Telecom, Tower gain
Tuesday, 17 September 2013, 5:46 pm | BusinessDesk
Sept. 17 (BusinessDesk) – New Zealand shares were mixed, keeping the NZX 50 Index at a record high, as Telecom and Tower rose, while regulatory uncertainty weighed on Chorus. More >>
NZ dollar little changed after RBA minutes
Tuesday, 17 September 2013, 5:09 pm | BusinessDesk
Sept. 17 (BusinessDesk) - The New Zealand dollar was little changed in local trading after minutes to the Reserve Bank’s latest policy meeting kept alive the possibility of another rate cut, while the prospect of the Federal Reserve unwinding its money ... More >>
Rakon’s Robinson brothers sell shares to fellow directors
Tuesday, 17 September 2013, 3:47 pm | BusinessDesk
Sept. 17 (BusinessDesk) - Rakon managing director Brent Robinson and his brother, executive director Darren Robinson, have sold some 554,000 shares to fellow directors Bryan Mogridge and Bruce Irvine after a telling off by the Takeovers Panel. More >>
Key dismisses lobbyists' UFB pricing report as flawed
Tuesday, 17 September 2013, 3:09 pm | BusinessDesk
Sept. 17 (BusinessDesk) - Prime Minister John Key has dismissed as “fundamentally flawed” a report commissioned by a combined consumer and communications sector lobby seeking stop government intervention on pricing of the nation’s ageing copper ... More >>
MIDDAY UPDATE: Chorus hires old foe to back law change
Tuesday, 17 September 2013, 12:06 pm | BusinessDesk
Sept. 17 (BusinessDesk) – Chorus has hired its old nemesis, former Telecommunications Commissioner Ross Patterson, to back up its submission the regulatory landscape is in need of a complete overhaul if the government’s fibre plans are to work. More >>
Abano board questions Hutson’s conflict of interest
Tuesday, 17 September 2013, 11:36 am | BusinessDesk
Sept. 17 (BusinessDesk) - Abano Healthcare’s board is taking advice on Peter Hutson’s ability to keep his directorship of the specialist healthcare investor while taking part in a $131.4 million takeover tilt with Australian private equity firm Archer ... More >>
Tower to return initial $70M of capital from life unit sale
Tuesday, 17 September 2013, 10:57 am | BusinessDesk
Sept. 17 (BusinessDesk) – Tower, the general insurer that is 34 percent owned by Guinness Peat Group, says it will return an initial $70 million of capital to shareholders from the sale of its life insurance business. More >>
