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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 1126]
Ryman dip a buying opportunity as Aust plans loom: broker
Thursday, 15 August 2013, 3:01 pm | BusinessDesk
Aug 15 (BusinessDesk) – Ryman Healthcare, the retirement village operator whose shares are the second-best performer on New Zealand’s benchmark index this year, may exceed its expectations of 15 percent earnings growth, according to brokerage ... More >>
Solid Energy targets 93 Waikato mine job cuts on weak demand
Thursday, 15 August 2013, 2:10 pm | BusinessDesk
Aug. 15 (BusinessDesk) - Solid Energy is targeting some 93 redundancies, almost all at its Huntly East underground coal mine, as the state-owned company grapples with falling demand and low coal prices. More >>
NZ consumer confidence ticks up in August
Thursday, 15 August 2013, 1:22 pm | BusinessDesk
Aug. 15 (BusinessDesk) - New Zealand consumer confidence increased this month from its already elevated level as people remain optimistic about the state of the economy. More >>
MIDDAY UPDATE: Axe drops on 90 jobs at Huntly mine
Thursday, 15 August 2013, 12:13 pm | BusinessDesk
Aug. 15 (BusinessDesk) – About 90 jobs will go at state-owned Solid Energy’s Huntly mine, according to media reports. More >>
NZ manufacturing activity rises to a record in July
Thursday, 15 August 2013, 11:46 am | BusinessDesk
Aug. 15 (BusinessDesk) – New Zealand manufacturing activity rose to its highest level on record for a July month, reflecting a broad expansion. More >>
MediaWorks’ lenders a step closer to taking control
Thursday, 15 August 2013, 11:27 am | BusinessDesk
Aug. 15 (BusinessDesk) - The lending syndicate to broadcaster MediaWorks NZ is a step closer to taking control, two months after tipping the company into receivership. More >>
AMP 1H earnings beat guidance, Meller named as next CEO
Thursday, 15 August 2013, 10:57 am | BusinessDesk
Aug. 15 (BusinessDesk) - AMP posted a 10 percent drop in first-half underlying earnings, beating its guidance in June when the dual-listed financial services firm warned its wealth protection business struggled in the second quarter. Separately AMP said ... More >>
Ravensdown omits farmer rebate for first time in 35 years
Thursday, 15 August 2013, 10:41 am | BusinessDesk
Ravensdown misses paying a rebate to farmers for the first time in 35 years as earnings slump More >>
Nuplex FY profit drops 31% on weak ANZ, EMEA markets
Thursday, 15 August 2013, 10:34 am | BusinessDesk
Aug. 15 (BusinessDesk) – Nuplex Industries, which had cut its earnings guidance three times, posted a 31 percent drop in full-year profit on weaker earnings from its resins division in the ANZ and EMEA regions and one-time charges. The specialty ... More >>
Turners Auctions lifts 1H profit 10%, sees flat FY result
Thursday, 15 August 2013, 10:34 am | BusinessDesk
Aug. 15 (BusinessDesk) - Turners Auctions, the auction house which counts Dorchester Pacific as a cornerstone investor, lifted first-half profit 10 percent on gains in its fleet and finance units, and sees a flat annual result having previously warned ... More >>
NZ dollar advances as sentiment improves on local data
Thursday, 15 August 2013, 8:25 am | BusinessDesk
Aug 15 (BusinessDesk) – The New Zealand dollar rose as sentiment was buoyed by reports showing a revival in the local economy, which is likely to push up interest rates and increase the lure of the currency. More >>
While you were sleeping: Wall Street, Macy's slide
Thursday, 15 August 2013, 7:51 am | BusinessDesk
Aug 15 (BusinessDesk) – Wall Street fell amid disappointing earnings from Macy's and as investors anticipate the US Federal Reserve will start reducing its bond-buying program as early as next month. More >>
MARKET CLOSE: NZ shares fall as SkyCity earnings disappoint
Wednesday, 14 August 2013, 5:43 pm | BusinessDesk
Aug. 14 (BusinessDesk) – New Zealand shares fell after SkyCity Entertainment Group posted a drop in earnings and weak results from its Auckland operations, while Fonterra Shareholders’ Fund fell after the dairy giant’s New Zealand Milk chief resigned. ... More >>
NZ dollar little changed after retail sales figures
Wednesday, 14 August 2013, 5:19 pm | BusinessDesk
Aug 14 (BusinessDesk) - The New Zealand dollar was little changed in local trading after upbeat retail sales figures showed consumer spending kept growing in the country’s housing related sectors, and as trading remains thin during the height of the Northern ... More >>
Fonterra food scare claims scalp of NZ Milk Gary Romano
Wednesday, 14 August 2013, 5:04 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Fonterra Cooperative Group’s tainted food scare has claimed its first scalp with the resignation of NZ Milk Products managing director Gary Romano. More >>
SkyCity shares fall amid struggle to squeeze Auckland growth
Wednesday, 14 August 2013, 4:33 pm | BusinessDesk
Aug. 14 (BusinessDesk) – SkyCity Entertainment Group shares fell to a seven-month low after the casino and hotel company posted an 8 percent drop in full-year profit that included weaker earnings from its Auckland business. More >>
ASB Bank FY profit rises 12% as wealth, insurance unit grows
Wednesday, 14 August 2013, 12:44 pm | BusinessDesk
Aug. 14 (BusinessDesk) – ASB Bank, the New Zealand unit of Commonwealth Bank of Australia, boosted full-year cash profit 12 percent as it grew its wealth and insurance business and kept a lid on costs. More >>
NZ retail sales gain on pickup in patchy hospitality sector
Wednesday, 14 August 2013, 12:38 pm | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand retail sales grew faster than economists were picking in the second three months of the year, led by a record gain in what’s seen as a “patchy” hospitality sector. More >>
MIDDAY UPDATE: Big pick-up in hospo spending bolsters retail
Wednesday, 14 August 2013, 12:12 pm | BusinessDesk
Aug. 14 (BusinessDesk) – A record quarterly gain in spending at bars, cafes and restaurants underpinned a pick-up in retail sales in the second quarter. More >>
Goodman Fielder returns to full-year profit
Wednesday, 14 August 2013, 12:01 pm | BusinessDesk
Aug. 14 (BusinessDesk) – Goodman Fielder, the biggest food company in Australia and New Zealand, has returned to annual profit after two years of restructuring aimed at streamlining its range of brands, exiting unprofitable businesses and paying down ... More >>
