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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 1121]
David Shearer resignsb as Labour leader, leaving vacuum
Thursday, 22 August 2013, 1:56 pm | BusinessDesk
Aug. 22 (BusinessDesk) – David Shearer has resigned as leader of the New Zealand’s opposition Labour Party, having failed to make a dent in the popularity of the ruling National Party and Prime Minister John Key. More >>
RESEND: Visy Fined $3.6M in NZ High Court for price fixing
Thursday, 22 August 2013, 1:28 pm | BusinessDesk
RESEND: Visy Fined $3.6M in NZ High Court for price fixing in long-running case More >>
Woolworths looks to learn from EziBuy
Thursday, 22 August 2013, 1:19 pm | BusinessDesk
Aug. 22 (BusinessDesk) – EziBuy, the retailer founded in Palmerston North in 1978, has been sold for $350 million to Australia’s Woolworths, which runs Countdown supermarkets in New Zealand. More >>
Fairfax NZ FY earnings fall 15%, bettering Australian titles
Thursday, 22 August 2013, 1:08 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Fairfax Media Group’s New Zealand unit, which includes the Dominion Post, Press and Sunday Star Times newspapers, reported a 15 percent decline in annual earnings, outperforming the company’s papers In Australian. More >>
RESEND: Port of Tauranga prepares for big ships
Thursday, 22 August 2013, 1:06 pm | BusinessDesk
Aug. 22 (BusinessDesk) – Port of Tauranga, the country’s biggest export port, has reported a record profit bang on expectations as it readies a dredging project to prepare for larger ships. More >>
IAG lifts NZ insurance profit by 12% on AMI contribution
Thursday, 22 August 2013, 1:00 pm | BusinessDesk
Aug. 22 (BusinessDesk) – Insurance Australia Group’s New Zealand unit posted a 12 percent gain in full-year insurance profit as the owner of the Lantern, NZI and State brands benefited from a 12-month contribution from AMI Insurance. More >>
Skellerup shares surge as profits seen rising
Thursday, 22 August 2013, 12:24 pm | BusinessDesk
Aug. 22 (BusinessDesk) – Shares in Skellerup Holdings surged 7.4 percent, making the stock the best performer on the NZX 50 Index today, after the company beat its 2013 profit guidance and signalled higher earnings in the coming year. More >>
MIDDAY UPDATE: Visy fined $3.6 mln in price fixing case
Thursday, 22 August 2013, 12:17 pm | BusinessDesk
Aug. 22 (BusinessDesk) – Australian cardboard box maker Visy Board has been fined $3.6 million in the High Court in Auckland to settle a long-running cartel case with the local antitrust regulator. More >>
Port of Tauranga prepares for big ships, posts record profit
Thursday, 22 August 2013, 12:01 pm | BusinessDesk
Aug. 22 (BusinessDesk) – Port of Tauranga, the country’s biggest export port, has reported a record profit bang on expectations as it readies a dredging project to prepare for larger ships. More >>
David Ross appears at District Court, remanded until Aug. 29
Thursday, 22 August 2013, 11:18 am | BusinessDesk
Aug. 22 (BusinessDesk) – David Ross, the Ponzi-accused former manager of Ross Asset Management, appeared in the District Court in Wellington this morning for substantive hearings on eight Crimes and Financial Advisers Act charges. More >>
Lance Wiggs lodges prospectus for up to $50M for tech fund
Thursday, 22 August 2013, 10:59 am | BusinessDesk
Aug. 22 (BusinessDesk) – Punakaiki Fund, set up by Pacific Fibre co-founder and internet commentator Lance Wiggs, is seeking to raise up to $50 million to invest in early stage New Zealand technology, internet and design companies. More >>
Skellerup beats guidance with 23% drop in FY profit
Thursday, 22 August 2013, 9:59 am | BusinessDesk
Aug. 22 (BusinessDesk) – Skellerup, the industrial rubber goods manufacturer, beat its guidance with a 23 percent decline in annual profit following a pickup in the last two months of the financial year. More >>
Visy Fined $3.6M in NZ High Court for price fixing
Thursday, 22 August 2013, 9:22 am | BusinessDesk
Visy Fined $3.6M in NZ High Court for price fixing in long-running case More >>
Vector ekes out 2.3% gain in FY profit
Thursday, 22 August 2013, 9:16 am | BusinessDesk
Aug. 22 (BusinessDesk) - Vector, the Auckland-based electricity, gas and telecommunications network operator, lifted net profit 2.3 percent, missing estimates, as its technology unit bolstered sagging earnings from traditional energy revenue streams. More >>
NZ dollar falls to two-week low as support seen for Fed plan
Thursday, 22 August 2013, 8:54 am | BusinessDesk
NZ dollar falls to two-week low as broad support seen for Bernanke’s tapering plans More >>
While you were sleeping: Fed taper seen next month
Thursday, 22 August 2013, 7:41 am | BusinessDesk
Aug 22 (BusinessDesk) – Wall Street gained and US Treasuries fell after minutes from the latest US Federal Reserve meeting were taken as a signal that the central bank is set to begin tapering its bond-buying program at its next meeting in September. More >>
CORRECT: Fonterra reveals another Chinese hiccup
Wednesday, 21 August 2013, 7:26 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Fonterra Cooperative Group, beset by food standards issues after the bacteria that can cause botulism was found in its supply chain, had another stumble in China in May when 42 tonnes of milk powder were held up over elevated ... More >>
Fonterra reveals another Chinese hiccup after May quarantine
Wednesday, 21 August 2013, 5:57 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Fonterra Cooperative Group, beset by food standards issues after the bacteria that can cause botulism was found in its supply chain, had another stumble in China in May when 42 tonnes of milk powder were held up over elevated ... More >>
MARKET CLOSE: NZ shares rally as Fletcher beats estimates
Wednesday, 21 August 2013, 5:40 pm | BusinessDesk
Aug. 21 (BusinessDesk) – New Zealand shares rose, after Fletcher Building and Auckland International Airport posted annual earnings that beat estimates. Trade Me fell after saying 2012 earnings growth would slow as it ramps up investments. More >>
NZ dollar falls before Fed minutes; RBNZ LVR plan weighs
Wednesday, 21 August 2013, 5:16 pm | BusinessDesk
Aug. 21 (BusinessDesk) - The New Zealand dollar fell in local trading before the Federal Reserve releases minutes to its latest policy meeting, and as steps by the Reserve Bank to curb home lending and weak emerging markets weigh on risk-sensitive ... More >>
