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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 1124]
China responding ‘constructively’ to nitrate issue, Key says
Monday, 19 August 2013, 5:24 pm | BusinessDesk
Aug. 19 (BusinessDesk) – Chinese officials have responded constructively to the discovery of excessive nitrate levels in milk products from Westland Milk Products that were shipped to China, Prime Minister John Key said. More >>
NZ dollar rises after latest food scare; RBNZ speech looms
Monday, 19 August 2013, 5:02 pm | BusinessDesk
Aug. 19 (BusinessDesk) - The New Zealand dollar edged up in local trading after another food scare in the country’s dairy sector, and ahead of tomorrow’s speech by Reserve Bank governor Graeme Wheeler on macro-prudential policy. More >>
Govt inquiry to probe food contamination, regulations
Monday, 19 August 2013, 4:01 pm | BusinessDesk
Aug. 19 (BusinessDesk) - A joint ministerial inquiry into the Fonterra Cooperative Group food scare will look at how the dairy exporter’s contamination occurred and whether the country’s regulatory regime is up to scratch, but won’t touch on ... More >>
MediaWorks’ lenders owed $528.3 mln, receiver says
Monday, 19 August 2013, 2:58 pm | BusinessDesk
Aug. 19 (BusinessDesk) - MediaWorks NZ, the broadcaster whose banking syndicate is poised to take control, owed its lenders $528.3 million when they tipped it into receivership, according to the first receiver’s report. More >>
NZ Dollar Outlook: Kiwi may gain if Fed omits taper signal
Monday, 19 August 2013, 2:09 pm | BusinessDesk
Aug. 19 (BusinessDesk) – The New Zealand dollar may gain this week should traders fail to see any signal in Federal Reserve minutes about when the US central bank may start tapering its US$85 billion a month bond buying programme, which has debased ... More >>
CORRECT2: NZX doubles first-half profit on listings, trading
Monday, 19 August 2013, 2:01 pm | BusinessDesk
CORRECT2: NZX doubles first-half profit as listings, trading make up for drought-impact on Agri More >>
Wellington buildings withstand quakes well, owners say
Monday, 19 August 2013, 1:19 pm | BusinessDesk
Aug. 19 (BusinessDesk) – The central business district of New Zealand’s capital has withstood two earthquakes that could have collapsed buildings in other places, letting insurers off the hook. More >>
NZ Steel earnings benefit from cheaper coal, more iron sand
Monday, 19 August 2013, 12:23 pm | BusinessDesk
Aug. 19 (BusinessDesk) - Australian steelmaker BlueScope Steel’s New Zealand unit was able to limit a decline in annual earnings with cheaper coal costs and bigger export volumes of iron sands. More >>
MIDDAY UPDATE: Z Energy debuts near top of offer price range
Monday, 19 August 2013, 12:15 pm | BusinessDesk
Aug. 19 (BusinessDesk) – Shares in Z Energy debuted near the top of its indicative price range at $3.73 when they listed on the stock exchange today. More >>
NZ stops certification for Westland product sent to China
Monday, 19 August 2013, 12:14 pm | BusinessDesk
Aug. 19 (BusinessDesk) – New Zealand’s Ministry for Primary Industries has revoked export certificates for four consignments of lactoferrin made by Westland Milk Products after unacceptable levels of nitrates were found in two batches. More >>
NZ producer input, output prices rise in 2Q, led by dairy
Monday, 19 August 2013, 11:38 am | BusinessDesk
Aug. 19 (BusinessDesk) – New Zealand producer input and output prices both rose in the second quarter, led by dairy products after Fonterra Cooperative Group lifted its forecast farmgate payout to farmers and prices rose for exports of milk powder, ... More >>
Z Energy jumps 6.6% on NZX debut, valuing company at $1.49B
Monday, 19 August 2013, 11:18 am | BusinessDesk
Aug. 19 (BusinessDesk) - Shares in Z Energy jumped 6.6 percent to near the top of its indicative price range in its NZX debut today, valuing the service station chain at $1.49 billion. More >>
NZ services sector activity rises in July
Monday, 19 August 2013, 11:11 am | BusinessDesk
Aug. 19 (BusinessDesk) - New Zealand’s services sector registered its highest level of activity since October 2012 in July, led by new orders and strength in the northern region. More >>
CORRECT: NZX doubles first-half profit on listings, trading
Monday, 19 August 2013, 10:43 am | BusinessDesk
CORRECT: NZX doubles first-half profit as listings, trading make up for drought-impact on Agri More >>
MONEY TALKS: Earnings season off to mixed start
Monday, 19 August 2013, 10:22 am | BusinessDesk
Aug. 19 (BusinessDesk) – Winter is almost over, and with that comes another earnings season with balance sheets and income statements galore for shareholder to puzzle over. More >>
NZX doubles full-year profit as listings, trading grow
Monday, 19 August 2013, 9:58 am | BusinessDesk
NZX doubles full-year profit as listings, trading make up for drought-impact on Agri More >>
NZ dollar may gain as weaker US economic data weighs
Monday, 19 August 2013, 9:03 am | BusinessDesk
Aug 19 (BusinessDesk) – The New Zealand dollar may gain after weaker than expected US data eroded investors’ confidence in the recovery of the world’s biggest economy, and dimmed demand for the greenback. More >>
Fonterra denies DCD claims as Sri Lankan court imposes ban
Monday, 19 August 2013, 8:59 am | BusinessDesk
Aug. 19 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, faces a 14 day temporary ban on selling products in Sri Lanka, and denies claims its products still contain traces of a nitrate inhibitor that sparked a food ... More >>
World Week Ahead: Focus on Jackson Hole
Monday, 19 August 2013, 6:46 am | BusinessDesk
Aug. 19 (BusinessDesk) – The annual meeting of central bankers and policy makers in Jackson Hole, Wyoming, at the end of the week will be closely monitored for any clues about plans for monetary stimulus in the world's largest economies. More >>
Cavalier lifts FY earnings on cost cuts
Friday, 16 August 2013, 7:14 pm | BusinessDesk
Aug. 16 (BusinessDesk) - Cavalier Corp., the listed carpet maker, increased annual profit before one-time items as it cut costs, making up for weaker sales. More >>
