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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 1127]
NZ retail sales grow faster than expected in second quarter
Wednesday, 14 August 2013, 10:52 am | BusinessDesk
NZ retail sales grow faster than expected in second quarter as hospitality reaps record gain More >>
Investors should wait until after Z Energy IPO: Morningstar
Wednesday, 14 August 2013, 10:20 am | BusinessDesk
Investors should wait until after Z Energy float to buy shares at a lower price, Morningstar says More >>
SkyCity FY profit falls 8 percent on flat Auckland result
Wednesday, 14 August 2013, 10:06 am | BusinessDesk
Aug. 14 (BusinessDesk) – SkyCity Entertainment Group, which has won increased gaming concessions in Auckland and Adelaide, said full-year profit fell 8 percent, missing estimates, on a flat result in New Zealand’s biggest city and one-time benefits ... More >>
Regulator clips Orion’s attempt to claw back quake costs
Wednesday, 14 August 2013, 9:46 am | BusinessDesk
Aug 14 (BusinessDesk) - The Commerce Commission plans to let Christchurch electricity lines company Orion New Zealand hike its prices to recover earthquake rebuilding costs, but in a much smaller way than Orion is seeking. More >>
NZ dollar falls as US retail sales seen supporting end to QE
Wednesday, 14 August 2013, 8:39 am | BusinessDesk
Aug. 14 (BusinessDesk) – The New Zealand dollar weakened as investors bet retail sales growth in the US suggests a revival in the world’s largest economy which will prompt the Federal Reserve to start tapering its monetary stimulus next month. More >>
While you were sleeping: Lockhart, US retail sales
Wednesday, 14 August 2013, 7:46 am | BusinessDesk
Aug 14 (BusinessDesk) – Wall Street advanced as comments by a US Federal Reserve official suggested not all policy makers believe September should mark the start of easing the central bank's bond-buying program. More >>
UPDATED: Port of Tauranga makes first South Island foray
Tuesday, 13 August 2013, 6:07 pm | BusinessDesk
UPDATED: Port of Tauranga makes first South Island foray with shot in the arm for PrimePort More >>
MARKET CLOSE: NZ shares gain paced by Summerset
Tuesday, 13 August 2013, 5:44 pm | BusinessDesk
Aug. 13 (BusinessDesk) – New Zealand shares rose, paced by Summerset Group after it posted first-half earnings that almost tripled and Port of Tauranga after it unveiled plans to invest in Timaru’s port and use it as a feeder for larger overseas vessels ... More >>
NZ dollar slips vs. greenback ahead of US retail sales
Tuesday, 13 August 2013, 5:10 pm | BusinessDesk
Aug 13 (BusinessDesk) - The New Zealand dollar slipped below 80 US cents ahead of retail sales figures in the US, which are expected to show consumer spending in the world’s biggest economy rose for a fourth month. More >>
RBNZ fine-tunes low-equity loan restriction regime
Tuesday, 13 August 2013, 4:21 pm | BusinessDesk
Aug 13 (BusinessDesk) - The Reserve Bank has fine-tuned the regime to restrict home-lending for borrowers with small deposits, but reiterated that banks will get just two weeks’ notice before any new rules are imposed. More >>
Port of Tauranga takes $21.6M stake in Timaru's PrimePort
Tuesday, 13 August 2013, 3:46 pm | BusinessDesk
Aug. 13 (BusinessDesk) – Port of Tauranga, New Zealand’s busiest export port, has agreed to buy a half stake in PrimePort Timaru in a $21.6 million deal aimed at strengthening the Tauranga site as a hub for coastal shipping. More >>
Telecom drops court action, takes Vodafone spat to regulator
Tuesday, 13 August 2013, 1:59 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Telecom Corp is taking its spat with rival Vodafone New Zealand to the Commerce Commission after dropping threatened legal action over the ‘SuperNet’ ad campaign. More >>
UPDATED: Summerset 1H profit almost triples
Tuesday, 13 August 2013, 1:06 pm | BusinessDesk
UPDATED: Summerset 1H profit almost triples as it sold more rights and land value doubled, shares gain More >>
Telecom unbundling key to regulator’s copper conundrum
Tuesday, 13 August 2013, 12:35 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Telecom Corp’s dominance in the country’s retail broadband market and how it chooses to unbundle services on Chorus’ ageing copper network are central to the conundrum facing the Commerce Commission. More >>
MIDDAY UPDATE: PGG Wrightson takes $321M charge on merger
Tuesday, 13 August 2013, 12:18 pm | BusinessDesk
Aug. 13 (BusinessDesk) – Rural services firm PGG Wrightson has written down its value by $321 million, erasing almost all of the company’s goodwill and resulting in an annual loss. More >>
NZ Energy Corp gets extension to complete Origin deal
Tuesday, 13 August 2013, 11:19 am | BusinessDesk
Aug 13 (BusinessDesk) - New Zealand Energy Corp has gained a six week extension in its vexed efforts to complete the purchase of gas production assets it is buying from Origin Energy, in exchange for adding an extra C$1 million to the C$5 million ... More >>
Moa slumps to record low after warning on 2014 sales
Tuesday, 13 August 2013, 10:44 am | BusinessDesk
Moa slumps to record low, worst performing stock after saying 2014 sales will miss forecasts More >>
Summerset 1H profit almost triples as it sold more rights
Tuesday, 13 August 2013, 10:06 am | BusinessDesk
Summerset 1H profit almost triples as it sold more rights and land value doubled, shares gain More >>
Opus misses 1H profit expectations as NZ business struggles
Tuesday, 13 August 2013, 9:34 am | BusinessDesk
Opus International misses 1H profit expectations as NZ business struggles on Mainzeal, local govt spend More >>
PGG Wrightson take $321M charge on goodwill
Tuesday, 13 August 2013, 9:30 am | BusinessDesk
Aug. 13 (BusinessDesk) - PGG Wrightson, the rural services company controlled by China’s Agria Corp, took a $321 million charge to write off goodwill from its 2005 merger while posting a decline in operating earnings in line with guidance on the ... More >>
