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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 1128]
Synlait owner's outlook brightens on Fonterra stumble
Tuesday, 13 August 2013, 8:58 am | BusinessDesk
China’s Bright Dairy looking better after Fonterra’s food safety stumble, Moody’s says More >>
NZ dollar rises vs. Australian dollar before confidence data
Tuesday, 13 August 2013, 8:32 am | BusinessDesk
Aug. 13 (BusinessDesk) – The New Zealand dollar rose against the Australian dollar as investors look ahead to reports today which may show the Australian economy is weakening, increasing the likelihood of further interest rate cuts. More >>
NZ security tech firms join hands in global push
Tuesday, 13 August 2013, 8:24 am | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand’s top technology security firms Gallagher, Tait Communications, Wynyard Group and Endace are trying a coordinated push into global markets as they share resources and draw on each other’s existing capabilities. More >>
While you were sleeping: Wall Street slides
Tuesday, 13 August 2013, 7:36 am | BusinessDesk
Aug 13 (BusinessDesk) – Wall Street slipped as a report showed Japan's economic growth fell short of expectations, adding to lacklustre data closer to home. More >>
Smelter's $30M sweetener came down to scale, says PM
Monday, 12 August 2013, 6:53 pm | BusinessDesk
Aug 12 (BusinessDesk) - The only reason the government offered $30 million to Rio Tinto to keep the Bluff aluminium smelter open was because it is such a large part of the economy, Prime Minister John Key says. More >>
Key cranks up kowtow with govt inquiry, promises China visit
Monday, 12 August 2013, 6:15 pm | BusinessDesk
Aug 12 (BusinessDesk) - Prime Minister John Key is vowing to go to China as soon as he can to apologise personally for the Fonterra botulism scare, armed with the findings of a new kind of Ministerial inquiry, for which new law will be passed, ... More >>
MARKET CLOSE: NZ shares fall, paced by Fletcher
Monday, 12 August 2013, 5:37 pm | BusinessDesk
Aug. 12 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 Index to a month low, on concern Fletcher Building’s earnings will reflect tough times in Australia. Contact Energy and MightyRiverPower fell as some investors lightened their ... More >>
NZ dollar little changed, may fall vs. euro, pound
Monday, 12 August 2013, 5:10 pm | BusinessDesk
Aug. 12 (BusinessDesk) - The New Zealand dollar may fall this week against the euro and the British pound amid expectations the European and UK economies are turning a corner. More >>
KCE minorities extracted higher price from Mangahao deal
Monday, 12 August 2013, 4:24 pm | BusinessDesk
Aug. 12 (BusinessDesk) – A group of minority shareholders in King Country Energy extracted more for their shares than the issue price at which Todd Energy sold down its Mangahao Power Station stake, raising concern the deal gave Todd control of the ... More >>
Port of Tauranga buys $37.2M property in South Auckland
Monday, 12 August 2013, 4:11 pm | BusinessDesk
Aug 12 (BusinessDesk) - Port of Tauranga, the country’s biggest export port, has spent $37.2 million buying property in Onehunga to expand its inland port operations in South Auckland. More >>
MPI probe into Fonterra food scare to take up to six months
Monday, 12 August 2013, 2:42 pm | BusinessDesk
Aug 12 (BusinessDesk) - A Ministry for Primary Industries investigation into Fonterra Cooperative Group’s potentially tainted whey protein concentrate will take up to six months. More >>
RESEND NZ Dollar Outlook: Kiwi may end the week unchanged
Monday, 12 August 2013, 1:19 pm | BusinessDesk
RESEND NZ Dollar Outlook: Kiwi may end the week unchanged as US tapering expectations dominate More >>
NZ Dollar Outlook: Kiwi may end the week unchanged
Monday, 12 August 2013, 1:10 pm | BusinessDesk
Aug 12 (BusinessDesk) – The New Zealand dollar may end the week little changed should US economic indicators point to a revival in the world’s largest economy, bolstering expectations of a pullback in monetary stimulus. More >>
MIDDAY UPDATE: Meridian profit jumps; Tiwai deal cuts value
Monday, 12 August 2013, 12:24 pm | BusinessDesk
Aug. 12 (BusinessDesk) – Meridian Energy boosted underlying annual profit 53 percent and will pay out a fatter dividend after selling out of its stake in an Australian wind-farm, though it’s had to wear a $476 million hit on the value of its assets ... More >>
NZ food prices rose 0.5% in July, led by expensive veges
Monday, 12 August 2013, 11:21 am | BusinessDesk
NZ food prices rose 0.5% in July, led by more expensive veges; fastest annual pace since Feb 2012 More >>
English taps lawyer Ross, venture capitalist Liddell to RBNZ
Monday, 12 August 2013, 10:52 am | BusinessDesk
Aug. 12 (BusinessDesk) - Finance Minister Bill English has appointed former Bell Gully partner Jonathan Ross and US-based venture capitalist Bridget Liddell to the board of the Reserve Bank. More >>
Freightways meets guidance with 6% gain in underlying profit
Monday, 12 August 2013, 10:52 am | BusinessDesk
Aug. 12 (BusinessDesk) – Freightways, New Zealand’s largest listed courier and data management company, posted a 6 percent increase in full-year profit before items, meeting its guidance of last month, and said it expects similar gains in 2014 in ... More >>
House prices up in July as buyers race possible restrictions
Monday, 12 August 2013, 10:10 am | BusinessDesk
Aug 12 (BusinessDesk) – New Zealand house prices rose in July as more houses changed hands, suggesting first-home buyers are trying to secure properties ahead of possible Reserve Bank restrictions on buyers with low deposits. More >>
Meridian earnings strong, but smelter deal cuts value
Monday, 12 August 2013, 10:05 am | BusinessDesk
Aug 12 (BusinessDesk) - Meridian Energy has turned in a strong 53 percent increase in underlying net profit after tax of $162.7 million, but has had to write down the total value of its assets by $476 million to reflect the lower power prices it will ... More >>
Heartland to pay brokerage for small investors with new plan
Monday, 12 August 2013, 9:56 am | BusinessDesk
Heartland heads off low-ball offers with plan to pick up brokerage on small share parcels More >>
