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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 1120]
NZ Refining aims to shrink workforce, squeeze yields
Friday, 23 August 2013, 1:30 pm | BusinessDesk
Aug. 23 (BusinessDesk) – New Zealand Refining plans to shrink its workforce by 8 percent by 2014, cut costs via new electricity and gas supply contracts and boost its hydrocracker yield in the face of ‘systemic discounting’ from larger refineries ... More >>
Telecom ends jobs purge, looks for 'more sophisticated' cuts
Friday, 23 August 2013, 1:28 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Telecom Corp, which is undergoing a radical transformation into a data-driven and mobile-focused telecommunications operator, has finished a harsh round of job cuts, trimming its labour bill by an eighth, and is looking for ... More >>
Success a burden for Port of Tauranga
Friday, 23 August 2013, 1:06 pm | BusinessDesk
Aug. 23 (BusinessDesk) – Port of Tauranga handled fewer containers in the second half of its financial year compared to the previous year when industrial action plagued rival Ports of Auckland. More >>
MIDDAY UPDATE: Air NZ plans to axe 180 jobs
Friday, 23 August 2013, 12:16 pm | BusinessDesk
Aug. 23 (BusinessDesk) – Government-controlled national carrier Air New Zealand plans to dump 180 workers at its Auckland engineering base, saying its new fleet of planes don’t need the same amount of maintenance. More >>
Air NZ to cut 180 jobs at Auckland engineering base
Friday, 23 August 2013, 11:51 am | BusinessDesk
Air NZ plans to cut 180 jobs at Auckland engineering base, citing move to modern aircraft More >>
Sky TV lifts profit, dividend as it battles rising rivalry
Friday, 23 August 2013, 10:58 am | BusinessDesk
Aug. 23 (BusinessDesk) – Sky Network Television has reported a 10.9 percent rise in annual profit as its subscriber base rose to a record in the face of competition from new content providers. More >>
Air NZ to close Auckland plant, cut 180 jobs, union says
Friday, 23 August 2013, 10:48 am | BusinessDesk
Aug. 23 (BusinessDesk) – Air New Zealand, the national carrier, plans to close its wide body aircraft heavy maintenance facility in Auckland by July next year, with the loss of 180 aircraft engineering jobs, according to the union representing ... More >>
NZ Refining turns to first-half profit on margin improvement
Friday, 23 August 2013, 10:44 am | BusinessDesk
NZ Refining turns to first-half profit on margin improvement that may not be sustained More >>
Metlifecare turns to a profit in 2013 after merger
Friday, 23 August 2013, 9:53 am | BusinessDesk
Aug. 23 (BusinessDesk) – Metlifecare, New Zealand’s second-largest listed retirement village operator and developer, turned to a profit in 2013 as it benefited from a larger business following the merger with Vision Senior Living and Private Life Care ... More >>
Telecom FY earnings fall to bottom of guidance range
Friday, 23 August 2013, 9:38 am | BusinessDesk
Aug. 23 (BusinessDesk) - Telecom Corp, which carved out its network operator unit Chorus at the end of 2011, reported a 0.5 percent decline in adjusted annual earnings to the bottom of its guidance range, and is predicting an unchanged dividend payment ... More >>
CORRECT: David Ross appears at District Court hearing
Friday, 23 August 2013, 8:59 am | BusinessDesk
(Corrects name of PwC’s David Bridgman in sixth paragraph of story that first ran Aug. 22) More >>
CORRECT: David Ross appears at District Court hearing
Friday, 23 August 2013, 8:59 am | BusinessDesk
(Corrects name of PwC’s David Bridgman in sixth paragraph of story that first ran Aug. 22) More >>
NZ dollar falls to 3-week low, may extend decline
Friday, 23 August 2013, 8:38 am | BusinessDesk
NZ dollar falls to 3-week low, may extend decline on Fed tapering, LVR restrictions More >>
From the Farm: Across the wharves
Friday, 23 August 2013, 8:08 am | BusinessDesk
Aug. 23 (BusinessDesk) - You can tell a lot about an economy by what’s going on at the wharves. Especially when the top three primary sector exports – dairy products, meat and logs – add up to $20 billion a year, or almost half the value of New Zealand’s ... More >>
While you were sleeping: US jobs data lift Wall Street
Friday, 23 August 2013, 7:44 am | BusinessDesk
Aug 23 (BusinessDesk) – Wall Street climbed as the latest US labour data underpinned the recent string of evidence that the jobs market continues its recovery, while the latest manufacturing data from the US, China and Germany suggested the world's ... More >>
MARKET CLOSE NZ shares fall as earnings dominate
Thursday, 22 August 2013, 5:42 pm | BusinessDesk
Aug. 22 (BusinessDesk) – New Zealand shares fell, giving up much of the previous day’s gains, with trading dominated by earnings season. Port of Tauranga slipped after posting record profit that met estimates, stock market operator NZX dropped ... More >>
NZ dollar falls as LVR plans cool rate hike expectations
Thursday, 22 August 2013, 5:08 pm | BusinessDesk
NZ dollar falls as Fed minutes point to tapering; RBNZ loan limits cool rate expectations More >>
Sale of Rakon’s Chinese factory better than liquidation
Thursday, 22 August 2013, 4:55 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Rakon, a maker of crystal oscillators used in smart phones and navigation systems, will liquidate its two-year-old Chinese factory if a plan to sell it does not go through. More >>
South Port posts record profit even as smelter cuts exports
Thursday, 22 August 2013, 3:34 pm | BusinessDesk
Aug. 22 (BusinessDesk) – Record imports of fertiliser and a resurgence of log exports were not enough to make up for the business lost to South Port when New Zealand Aluminium Smelters (NZAS) cut production at its Tiwai aluminium smelter. More >>
Vital Healthcare posts 21% rise in profit
Thursday, 22 August 2013, 3:07 pm | BusinessDesk
Aug. 22 (BusinessDesk) – Vital Healthcare Property Trust, New Zealand’s largest listed medical and healthcare property investor, posted a 21 percent increase in profit before one-time items as it benefited from increased rents on the back of ... More >>
