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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 1131]
Fonterra fined $900k for role in fixing prices in China
Wednesday, 7 August 2013, 1:38 pm | BusinessDesk
Fonterra fined $900k for role in fixing prices in China, says rivals face bigger penalties More >>
NZ lack of wage inflation points to rates staying low
Wednesday, 7 August 2013, 1:29 pm | BusinessDesk
NZ unemployment edges up in Q2, lack of wage inflation points to interest rates remaining on hold More >>
Tower shares fall to 2-month low on licensing requirements
Wednesday, 7 August 2013, 12:14 pm | BusinessDesk
Tower shares fall to 2-month low as licensing requirements may weigh on capital returns More >>
MIDDAY UPDATE: NZ jobless rate ticks up as workforce expands
Wednesday, 7 August 2013, 12:14 pm | BusinessDesk
Aug 7 (BusinessDesk) – New Zealand’s unemployment rate ticked up to 6.4 percent in the June quarter from 6.2 percent in the first three months of the year, as more people re-joined the work force and went on the hunt for jobs. More >>
Abano shares climb to 4-month high on prospect of takeover
Wednesday, 7 August 2013, 11:30 am | BusinessDesk
Aug 7 (BusinessDesk) - Shares in Abano Healthcare climbed to a four-month high after the specialty health clinic investor said it had batted away an unsolicited proposal from an unnamed party alongside director Peter Hutson, and now faces a potential ... More >>
NZ unemployment rate rises to 6.4% in 2Q
Wednesday, 7 August 2013, 10:55 am | BusinessDesk
Aug 7 (BusinessDesk) – New Zealand’s unemployment rate rose more than expected in the second quarter while the participation rate increased, with little evidence of wage inflation. More >>
Chorus shares jump, but still wary on copper pricing split
Wednesday, 7 August 2013, 10:55 am | BusinessDesk
Aug 7 (BusinessDesk) - Shares of telecommunications infrastructure owner Chorus bounced 5.9 percent when trading opened on the NZX this morning after Communications Minister Amy Adams announced a new way forward on the vexed issue of regulated pricing for ... More >>
Vietnam puts Fonterra whey protein under scrutiny, no ban
Wednesday, 7 August 2013, 9:38 am | BusinessDesk
Aug 7 (BusinessDesk) - Vietnam has put checks in place to ensure the quality of dairy products using whey protein concentrate made by Fonterra Cooperative Group and has recalled affected products, but hasn’t implemented an outright ban on imports from ... More >>
Abano faces takeover bid after rejecting unsolicited offer
Wednesday, 7 August 2013, 8:54 am | BusinessDesk
Aug 7 (BusinessDesk) - Abano Healthcare, which last week reported a 75 percent jump in annual profit, faces a takeover bid after turning down an offer north of its current $100.2 million market price from an unnamed party alongside director Peter Hutson. More >>
NZ dollar gains after Fonterra dairy auction eases fears
Wednesday, 7 August 2013, 8:51 am | BusinessDesk
Aug 7 (BusinessDesk) – The New Zealand dollar recovered more ground as fears of weaker exports and lower payouts to farmers receded following a food contamination scare at Fonterra Cooperative Group, the nation’s largest company. More >>
Adams gives nod for copper prices to underpin fibre
Wednesday, 7 August 2013, 8:13 am | BusinessDesk
Aug 7 (BusinessDesk) - The government is proposing to cut through the regulatory mire over price-setting for fast broadband services by using the prices tendered by participants in its ultra-fast broadband rollout project instead of complex international ... More >>
While you were sleeping: September taper back in focus
Wednesday, 7 August 2013, 7:37 am | BusinessDesk
Aug 7 (BusinessDesk) – Wall Street fell a second day after two other US Federal Reserve officials suggested the central bank could begin easing its bond-buying program next month. More >>
Dairy product prices fall 2.4% in GDT auction
Wednesday, 7 August 2013, 7:25 am | BusinessDesk
Aug. 7 (BusinessDesk) - Prices of dairy products fell in the latest GlobalDairyTrade auction, while the volume sold jumped to a record, suggesting little if any reaction to Fonterra Cooperative Group’s whey protein contamination scare. More >>
Postie Plus mulls capital-raising, debt cut
Tuesday, 6 August 2013, 6:22 pm | BusinessDesk
Aug. 6 (BusinessDesk) – Postie Plus Group, the retailer that breached bank covenants earlier this year, said it is mulling ways to raise capital to repay debt in the face of continued disappointing sales. More >>
Fonterra satisfied it met disclosure rules over food scare
Tuesday, 6 August 2013, 5:58 pm | BusinessDesk
Aug. 6 (BusinessDesk) - Fonterra Cooperative Group, New Zealand’s biggest company, is confident it met the general disclosure rules required of a public issuer over the food contamination scare. More >>
MARKET CLOSE: NZ shares fall; Diligent restates accounts
Tuesday, 6 August 2013, 5:57 pm | BusinessDesk
Aug 6 (BusinessDesk) – New Zealand shares fell, as Diligent Board Member Services led most tech stocks lower after saying it would restate three years of revenue, delaying its second-quarter results. Fonterra Shareholders’ Fund rebounded in heavy ... More >>
NZ dollar pares gain vs. Aust after RBA cuts key rate
Tuesday, 6 August 2013, 5:16 pm | BusinessDesk
NZ dollar pares gain vs. Aust after RBA cuts key rate to 2.5 percent More >>
Australia’s central bank cuts key rate to 2.5 percent
Tuesday, 6 August 2013, 4:59 pm | BusinessDesk
Aug 6 (BusinessDesk) – The Reserve Bank of Australia cut its cash rate by a quarter point to 2.5 percent as expected, matching its New Zealand counterpart’s official cash rate for the first time in more than four years and lifting the relative appeal ... More >>
Property For Industry seen expensive, cut to sell at Craigs
Tuesday, 6 August 2013, 2:33 pm | BusinessDesk
Aug 6 (BusinessDesk) – Property For Industry, whose shares have gained 14 percent this year, is looking expensive compared to its peers, according to brokerage Craigs Investment Partners which cut its recommendation to ‘sell’ from ‘hold’. More >>
FMA chair's role in SkyCity talks noted as possible conflict
Tuesday, 6 August 2013, 1:50 pm | BusinessDesk
Aug 6 (BusinessDesk) – Financial Markets Authority chairman Simon Allen’s role in negotiating the government’s convention centre for pokies deal with NZX-listed SkyCity Entertainment Group was recorded as a potential conflict of interest, the ... More >>
