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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 1111]
Rakon expects 2014 loss of $54M after Chinese writedown
Friday, 6 September 2013, 2:25 pm | BusinessDesk
Sept. 6 (BusinessDesk) – Rakon, which makes crystal oscillators used in smart phones and navigation systems, expects a net loss of $54 million in 2014 after taking a $37 million one-time charge to write down the value of its Chinese investment and ... More >>
Loan restrictions to stay Wheeler’s hand in next week's MPS
Friday, 6 September 2013, 2:02 pm | BusinessDesk
RBNZ’s loan restrictions to stay Wheeler’s hand in next week’s rate review More >>
Falling electricity demand to push costs up, warns MEUG
Friday, 6 September 2013, 1:26 pm | BusinessDesk
Sept 6 (BusinessDesk) – Falling demand for electricity will push up power prices as the monopoly national grid owner, Transpower, spreads its regulated charges over smaller total consumption, warns the Major Electricity Users Group. More >>
MIDDAY UPDATE: Rob Fyfe looks for work
Friday, 6 September 2013, 12:22 pm | BusinessDesk
Sept. 6 (BusinessDesk) – Former Air New Zealand chief executive Rob Fyfe will be winging his way back home to New Zealand, and is in need of a new job. More >>
Rob Fyfe to leave Trilogy board, seeks new senior role in NZ
Friday, 6 September 2013, 12:22 pm | BusinessDesk
Sept. 6 (BusinessDesk) - Former Air New Zealand boss Rob Fyfe will leave the board of Trilogy International, the skincare products and scented candle maker, after this month’s annual meeting as he looks for a new full-time executive role in New Zealand. More >>
Diligent censured, fined for numerous listing rules breaches
Friday, 6 September 2013, 10:10 am | BusinessDesk
Sept 6 (BusinessDesk) - Diligent Board Member Services, the governance app-maker hit by a slew of administrative mis-steps, has been publicly censured by the New Zealand Markets Disciplinary Tribunal for numerous breaches of stock exchange listing ... More >>
Seeka first-half profit plunges 92 percent on Psa impact
Friday, 6 September 2013, 9:56 am | BusinessDesk
Seeka Kiwifruit Industries, the fruit grower and coolstore and packhouse operator, reported a 92 percent dive in first-half profit as the outbreak of Psa-V vine bacteria takes its heaviest toll on certain kiwifruit varieties. More >>
NZ dollar little changed ahead of key US employment data
Friday, 6 September 2013, 8:33 am | BusinessDesk
Sept. 6 (BusinessDesk) – The New Zealand dollar is little changed ahead of a key US employment report tonight where strong data is expected to signal that the Federal Reserve will start to taper its bond buying stimulus programme this month. More >>
While you were sleeping: US jobs data good enough
Friday, 6 September 2013, 7:53 am | BusinessDesk
Sept 6 (BusinessDesk) – Wall Street advanced as the latest jobs data confirmed the view that the US economic recovery is gathering traction. More >>
MARKET CLOSE: NZ shares fall with ASX; TEL, FBU slip
Thursday, 5 September 2013, 5:40 pm | BusinessDesk
Sept. 5 (BusinessDesk) – New Zealand shares fell with Australian shares ahead of the federal election and after that nation unexpectedly posted a trade deficit. Telecom and Fletcher Building paced the decline, along with Australia & New Zealand Banking ... More >>
NZ dollar holds gains ahead of US employment figures
Thursday, 5 September 2013, 5:07 pm | BusinessDesk
Sept. 5 (BusinessDesk) - The New Zealand dollar held its gain in local trading after investors got more optimistic over global growth on the strength of Chinese services data, and ahead of US employment figures. More >>
Trade Me earnings growth may slow to 8% in 2014, CEO says
Thursday, 5 September 2013, 2:41 pm | BusinessDesk
Trade Me earnings growth may slow to 8% in 2014 as auction site reinvests, Macdonald says More >>
RMA reforms will increase uncertainty, says top law firm
Thursday, 5 September 2013, 12:53 pm | BusinessDesk
Sept. 5 (BusinessDesk) – Fundamental changes to the Resource Management Act will produce no more certainty than the current law and will introduce new conflicts that the courts will have to untangle, says top law firm DLA Phillips Fox. More >>
Pair charged after Strategic Planning, SPG probes
Thursday, 5 September 2013, 12:43 pm | BusinessDesk
Sept 5 (BusinessDesk) – Andrew Robinson, who was struck off as an authorised financial adviser in December, and Mark Turnock have been charged following an investigation into Strategic Planning Group and SPG Investment Company No. 1. More >>
MIDDAY UPDATE: Dotcom leaves Mega board
Thursday, 5 September 2013, 12:07 pm | BusinessDesk
Sept. 5 (BusinessDesk) – Internet entrepreneur Kim Dotcom has resigned from the board of his new Mega data-storage empire to try his hand on other projects and fend off attempts by the US Federal government to extradite him from New Zealand. More >>
Australian regulator won’t stop Air NZ lifting Virgin stake
Thursday, 5 September 2013, 12:05 pm | BusinessDesk
Sept. 5 (BusinessDesk) - The Australian Competition and Consumer Commission won’t stop national carrier Air New Zealand from lifting its stake in Virgin Australia, two days after extending their airlines’ trans-Tasman alliance. More >>
Briscoe Group lifts first-half profit 12% to $14.9 mln
Thursday, 5 September 2013, 11:05 am | BusinessDesk
Sept. 5 (BusinessDesk) – Briscoe Group, the homeware and sporting goods retail chain, posted a 12 percent gain in first half profit, meeting its profit guidance as sales rose. More >>
New 4G spectrum looks pricey, warns 2degrees
Thursday, 5 September 2013, 10:45 am | BusinessDesk
Sept. 5 (BusinessDesk) – Mobile phone operator 2degrees is questioning the government’s minimum reserve price of $198 million for new fourth generation (4G) mobile spectrum, saying it’s well above prices being paid for existing spectrum. More >>
Rural Equities FY profit slides 31% on property revaluations
Thursday, 5 September 2013, 10:15 am | BusinessDesk
Sept. 5 (BusinessDesk) - Rural Equities, the farming group controlled by the Cushing family, reported a 31 percent drop in annual profit as property revaluations lagged behind those from a year earlier, and as the North Island’s worst drought in seven ... More >>
Nasdaq-listed Derma Sciences takes 7.3% stake in Comvita
Thursday, 5 September 2013, 10:14 am | BusinessDesk
Sept 5 (BusinessDesk) – Derma Sciences, the Nasdaq-listed company with exclusive global rights to Comvita’s Medhoney wound care products, has taken a 7.3 percent stake in the Te Puke-based Manuka honey products firm via a discounted placement. More >>
