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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 1116]
A2 shares touch record-high as investors buy growth story
Thursday, 29 August 2013, 3:52 pm | BusinessDesk
Aug. 29 (BusinessDesk) - A2 Corp shares touched a record high 77 cents in trading today after the company boosted sales 51 percent and improved its underlying earnings. More >>
RESEND: Pyne Gould annual profit beats forecast by 48%
Thursday, 29 August 2013, 3:05 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Pyne Gould Corp, the asset management firm controlled by George Kerr, returned to profit this year and beat its June forecast by 48 percent as it reaped $25 million from asset sales and generated bigger returns from its Torchlight ... More >>
NZ business confidence eases from 14-year high in August
Thursday, 29 August 2013, 1:58 pm | BusinessDesk
NZ business confidence eases from 14-year high in August but remains elevated, ANZ says More >>
Jetstar nibbles into Air NZ’s domestic dominance
Thursday, 29 August 2013, 1:37 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Jetstar, the discount unit of Australian airline Qantas Airways, made a small inroad into Air New Zealand’s control of New Zealand domestic routes, boosting passenger numbers and nabbing market share. More >>
Pyne Gould annual profit beats forecast by 48%
Thursday, 29 August 2013, 1:06 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Pyne Gould Corp, the asset management firm controlled by George Kerr, returned to profit this year and beat its June forecast by 48 percent as it reaped $25 million from asset sales and generated bigger returns from its Torchlight ... More >>
Mercer 2013 earnings at the top of forecast range
Thursday, 29 August 2013, 12:43 pm | BusinessDesk
Mercer 2013 earnings at the top of forecast range, expects profit will rise further in 2014 More >>
MIDDAY UPDATE: Ross pleads guilty to Ponzi scheme charges
Thursday, 29 August 2013, 12:39 pm | BusinessDesk
Aug. 29 (BusinessDesk) – Former Ross Asset Management principal David Ross has pleaded guilty to all charges he faced over running a Ponzi scheme in Wellington for the past decade. More >>
Rubicon returns to profit as Tenon rides US housing rebound
Thursday, 29 August 2013, 11:43 am | BusinessDesk
Aug. 29 (BusinessDesk) - Rubicon, the forestry biotech company spun out of Fletcher Challenge, returned to profit on an earnings before interest, tax, depreciation and amortisation basis after its Tenon unit rode the coat-tails of a resurgent US housing ... More >>
David Ross pleads guilty to all charges, remanded in custody
Thursday, 29 August 2013, 10:54 am | BusinessDesk
Aug. 29 (BusinessDesk) – David Ross, former manager of Ross Asset Management, pleaded guilty to five charges laid by the Serious Fraud Office and three charges by the Financial Markets Authority in the Wellington District Court and has been remanded ... More >>
Air NZ FY profit more than doubles, beating estimates
Thursday, 29 August 2013, 10:43 am | BusinessDesk
Aug. 29 (BusinessDesk) – Air New Zealand, which is preparing to spend $1.8 billion on aircraft in the next three years, more than doubled annual profit, beating estimates, as it squeezed more revenue from a rising volume of passengers and benefited from ... More >>
Weak Aussie demand weighs on Tourism Holdings earnings
Thursday, 29 August 2013, 10:35 am | BusinessDesk
Tourism Holdings says annual earnings fell 11 percent to $14.6 million on weak demand in Australia More >>
Outages, low demand and low prices depress Genesis earnings
Thursday, 29 August 2013, 9:59 am | BusinessDesk
Aug. 29 (BusinessDesk) - A combination of low wholesale electricity prices, low growth in demand for electricity and gas, and the impact of one-off outages to upgrade canals in the Tekapo hydro scheme saw operating earnings at Genesis Energy fall 13 percent ... More >>
A2 FY profit slips on set-up costs of UK JV, sales jump 51%
Thursday, 29 August 2013, 9:37 am | BusinessDesk
A2 FY profit slips on cost of setting up UK JV, sales jump 51% as Australian shines More >>
NZ dollar gains as West mulls Syria attack
Thursday, 29 August 2013, 9:01 am | BusinessDesk
Aug. 29 (BusinessDesk) – The New Zealand dollar rose after investors increased their appetite for riskier assets as western powers weighed the possibility of military action in Syria. More >>
From the Farm: Fonterra off the hook
Thursday, 29 August 2013, 8:11 am | BusinessDesk
Aug. 29 (BusinessDesk) – There are three more inquiries under way into Fonterra Cooperative Group’s contaminated whey protein scare but the first one, out yesterday, probably gives a good account of what happened. More >>
MARKET CLOSE: NZ shares fall, taking lead from overseas
Wednesday, 28 August 2013, 5:58 pm | BusinessDesk
MARKET CLOSE: NZ shares fall as investors take lead from overseas markets risk sell off More >>
Westland Milk hikes forecast payout
Wednesday, 28 August 2013, 5:57 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Westland Milk, the Hokitika-based dairy cooperative, has followed Fonterra Cooperative Group’s lead in hiking its forecast payout to farmers on strong milk flows and elevated international prices. More >>
AgResearch test narrowed down strain, since disproved
Wednesday, 28 August 2013, 5:19 pm | BusinessDesk
Aug. 28 (BusinessDesk) – AgResearch, a Crown Research Institute, played a key role in identifying bacteria in batches of Fonterra Cooperative Group whey protein concentrate as a strain that could cause botulism, according to an initial report by the Ministry ... More >>
Tourism Holdings appoints Rob Campbell as new chairman
Wednesday, 28 August 2013, 5:11 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Tourism Holdings has appointed Rob Campbell as its new chairman effective from tomorrow, just four months after he joined the campervan operator’s board. More >>
NZ dollar extends fall as Syrian conflict erodes confidence
Wednesday, 28 August 2013, 5:08 pm | BusinessDesk
Aug. 28 (BusinessDesk) - The New Zealand dollar extended its decline in local trading as the growing likelihood of a Western military strike on Syria erodes investors’ appetite for higher yielding, or riskier, assets. More >>
