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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 1134]
MONEY TALKS: Farmers good, investors bad
Friday, 2 August 2013, 3:02 pm | BusinessDesk
Aug. 2 (BusinessDesk) – If you read the Fonterra tea-leaves, there are two kinds of people in this world – farmers and everybody else. More >>
Kiwi Income may need to sell assets to exit CBA contract
Friday, 2 August 2013, 2:14 pm | BusinessDesk
Aug 2 (BusinessDesk) – Kiwi Income Property Trust may need to sell assets or raise equity to reduce its debt gearing should a proposal to bring its management inhouse go ahead, according to Craigs Investment Partners research analyst Chris Byrne. More >>
Chorus gets new $250M facility to push out debt maturity
Friday, 2 August 2013, 1:38 pm | BusinessDesk
Aug 2 (BusinessDesk) - Chorus, the telecommunications network operator, has signed up to a new $250 million banking facility that will use to push out its debt maturity. More >>
Briscoe ‘very eager’ to make acquisitions, Duke says
Friday, 2 August 2013, 1:03 pm | BusinessDesk
Aug 2 (BusinessDesk) – Briscoe Group, whose shares have grown four times faster than the NZX 50 Index in the past five years, is eager to make acquisitions or substantial investments using a cash pile that may have grown to $90 million by January 2014. More >>
MIDDAY UPDATE: Hubbard’s statutory management racks up $17M
Friday, 2 August 2013, 12:08 pm | BusinessDesk
Aug. 2 (BusinessDesk) – The three statutory managers of deceased Timaru businessman Allan Hubbard have racked up about $17 million overseeing the management of the frozen funds in three years. More >>
Frozen Hubbard funds’ administration, legal fees top $17 mln
Friday, 2 August 2013, 11:01 am | BusinessDesk
Aug 2 (BusinessDesk) - The cost of administering the frozen funds of late businessman Allan Hubbard has topped $17 million, of which almost a third was hoovered up in legal fees. More >>
Pumpkin Patch's Humphries seen as top CEO contender
Friday, 2 August 2013, 8:45 am | BusinessDesk
Aug 2 (BusinessDesk) – Di Humphries, the former boss of Hallenstein Glasson’s women’s wear chain, is seen as a strong contender for the top job at children’s clothing retailer Pumpkin Patch after chief executive Neil Cowie resigned this week ... More >>
NZ dollar falls after upbeat US manufacturing data
Friday, 2 August 2013, 8:43 am | BusinessDesk
NZ dollar weakens as signs of improvement in US economy signals pull back in stimulus More >>
From the Farm: Sloppy paperwork
Friday, 2 August 2013, 8:18 am | BusinessDesk
Aug 2 (BusinessDesk) - The Ministry for Primary Industries has done what is normal these days for major issues handled by officials and dumped an electronic copy of more than 12 months of meeting notes, reports, aide memoirs, cables and emails, on ... More >>
While you were sleeping: Stocks hit records
Friday, 2 August 2013, 7:27 am | BusinessDesk
Aug 2 (BusinessDesk) – Wall Street climbed to fresh records amid central bank promises for ongoing stimulus and better-than-expected economic data from the US and abroad. More >>
MARKET CLOSE: NZ shares mixed as Australia weighs
Thursday, 1 August 2013, 5:45 pm | BusinessDesk
Aug 1 (BusinessDesk) – New Zealand shares were mixed, with the NZX 50 Index eking out a small gain, as ongoing concern about the weaker Australian economy and associated high kiwi dollar weighed on companies including Ebos Group and Mainfreight, while ... More >>
CORRECT: NZAX's Mykris reports strong earnings in 1st year
Thursday, 1 August 2013, 5:41 pm | BusinessDesk
Aug 1 (BusinessDesk) - NZAX-listed Malaysian internet services play Mykris has reported a solid lift in earnings and is paying 1.5 cents per share in dividends in its first year since seeking a listing on the New Zealand alternative market's board. More >>
NZ dollar slips as Fed holds fire on tapering
Thursday, 1 August 2013, 5:12 pm | BusinessDesk
NZ dollar slips as Fed holds fire on tapering; hits new high vs. Australian dollar More >>
CORRECT: Mykris reports strong earnings, dividends
Thursday, 1 August 2013, 4:48 pm | BusinessDesk
Aug 1 (BusinessDesk) - NZAX-listed Malaysian internet services play Mykris has reported a solid lift in earnings and is paying 1.8 cents per share in dividends in its first year since seeking a listing on the New Zealand alternative market's board. More >>
MPI fluffed timing of changes to export certificates
Thursday, 1 August 2013, 4:32 pm | BusinessDesk
Aug 1 (BusinessDesk) – New Zealand meat exports ended up stalled on Chinese wharves and further shipments were forced to turn back after officials fluffed the name change on export certificates after the creation of the Ministry for Primary Industries, ... More >>
Xero adds another 36k customers since March
Thursday, 1 August 2013, 4:30 pm | BusinessDesk
Xero adds another 36k customers since March, sees 80% lift in 2014 sales, wider loss More >>
RBNZ plan to restrict low equity loans will keep prices high
Thursday, 1 August 2013, 1:55 pm | BusinessDesk
Aug 1 (BusinessDesk) - The Reserve Bank’s plan to restrict the number of low equity mortgages will hobble first home buyers while helping property investors, ensuring house prices keep marching higher, according to Westpac Banking Corp economists. More >>
Gould Steele and Co gives up NZX status to cut compliance
Thursday, 1 August 2013, 1:39 pm | BusinessDesk
Aug 1 (BusinessDesk) - Gould Steele & Co, a Wellington-based boutique financial advisory service, has resigned as an NZX Advising Firm, giving up its formal status to avoid having to comply with stricter compliance rules for advisers. More >>
MIDDAY UPDATE: Briscoe shares climb on another record profit
Thursday, 1 August 2013, 12:21 pm | BusinessDesk
Aug. 1 (BusinessDesk) – Shares in retail chain Briscoe Group climbed 4.4 percent after the company flagged yet another record profit as sales in the second three months of the year kept charging away. More >>
Briscoe sees 9.7% first-half profit growth as 2Q sales gain
Thursday, 1 August 2013, 11:28 am | BusinessDesk
Aug. 1 (BusinessDesk) - Briscoe Group, the homeware and sporting goods retail chain, anticipates 9.7 percent growth in first-half profit as second-quarter sales continued to grow across both segments and margins widen. More >>
