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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 1135]
Geoff Loudon swoops on NZ Energy Corp in gas deal
Thursday, 1 August 2013, 9:38 am | BusinessDesk
Aug 1 (BusinessDesk) - Serial oil and minerals investor Geoff Loudon's L&M Energy has done a deal to help get Toronto-based New Zealand Energy Corp out of a financial hole while securing a half-share of the long-producing gas fields known as TWN, and ... More >>
GPG says UK regulator extends probe into super schemes
Thursday, 1 August 2013, 9:25 am | BusinessDesk
Aug 1 (BusinessDesk) – Guinness Peat Group, the New Zealand investment group winding down its portfolio, said the UK regulator has extended its investigation into the company’s pension schemes. More >>
NZ dollar nears 89 Australian cents, hits new 5 year high
Thursday, 1 August 2013, 8:58 am | BusinessDesk
Aug 1 (BusinessDesk) – The New Zealand dollar approached 89 Australian cents this morning as investors favoured the reviving local economy over investment in Australia where the economy is slowing. More >>
NZ dollar nears 89 Australian cents, hits new 5 year high
Thursday, 1 August 2013, 8:58 am | BusinessDesk
Aug 1 (BusinessDesk) – The New Zealand dollar approached 89 Australian cents this morning as investors favoured the reviving local economy over investment in Australia where the economy is slowing. More >>
While you were sleeping: Fed signals ongoing support
Thursday, 1 August 2013, 7:33 am | BusinessDesk
Aug 1 (BusinessDesk) – Wall Street advanced as US Federal Reserve policy makers kept its US$85 billion a month bond-buying program intact as the economy continues to recover at a pace that requires ongoing stimulus. More >>
MARKET CLOSE: NZ shares fall; Pumpkin Patch, Fonterra drop
Wednesday, 31 July 2013, 5:58 pm | BusinessDesk
July 31 (BusinessDesk) – New Zealand shares fell after Pumpkin Patch’s chief executive departed, Fonterra Shareholders’ Fund investors fretted returns will be hurt by farmer payments and Mainfreight said earnings are lagging last year’s ... More >>
Mainfreight earnings hurt by Australian business
Wednesday, 31 July 2013, 5:27 pm | BusinessDesk
July 31 (BusinessDesk) - Mainfreight, the international logistics firm, has told shareholders earnings are a little behind a year ago, and is quitting parcel freight in Australia as the business weighs on its unit across the Tasman More >>
NZ dollar hits new 5-year high vs. Australian dollar
Wednesday, 31 July 2013, 5:14 pm | BusinessDesk
NZ dollar hits new 5-year high vs. Aust on Fonterra milk price hike, upbeat business confidence More >>
Rakon’s Robinson brothers to sell shares after code breach
Wednesday, 31 July 2013, 4:30 pm | BusinessDesk
July 31 (BusinessDesk) - Rakon managing director Brent Robinson and his brother and executive director Darren Robinson have agreed to sell some 493,000 recently purchased shares each after the transactions breached the Takeovers Code. More >>
Select committee proposes dispute resolution in housing bill
Wednesday, 31 July 2013, 4:27 pm | BusinessDesk
July 31 (BusinessDesk) - Parliament’s social services select committee has recommended tighter definitions and a disputes resolution process for the government’s plan to build special housing areas, but failed to get the opposition parties onside for ... More >>
MRP, Meridian miss Fisher's growth criteria
Wednesday, 31 July 2013, 2:12 pm | BusinessDesk
July 31 (BusinessDesk) – MightyRiverPower and Meridian Energy’s utility-style earnings and regulatory risk mean they fail the investment criteria for Fisher Funds’ managed Kingfish, according to the NZX-listed equity investor’s quarterly newsletter. More >>
NZ business confidence rises to 14-yr high amid broad growth
Wednesday, 31 July 2013, 1:56 pm | BusinessDesk
July 31 (BusinessDesk) – New Zealand business confidence rose to its highest in more than 14 years in July, amid signs of a broader economic expansion. More >>
Wynyard shares gain after signing up SFO
Wednesday, 31 July 2013, 1:08 pm | BusinessDesk
July 31 (BusinessDesk) - Shares in Wynyard Group gained after the intelligence software developer signed up the Serious Fraud Office as its latest customer for an undisclosed sum. More >>
MIDDAY UPDATE: Fonterra fattens farmers' pockets in forecast
Wednesday, 31 July 2013, 12:10 pm | BusinessDesk
July 31 (BusinessDesk) – Fonterra Cooperative Group has lifted its forecast payout to farmers for this season by 50 cents, saying the lack of supply from China and Europe during their spring and a weaker kiwi dollar have kept dairy prices high. More >>
Mitre 10 taps former Pumpkin Patch head Neil Cowie as CEO
Wednesday, 31 July 2013, 11:16 am | BusinessDesk
July 31 (BusinessDesk) – Mitre 10 (New Zealand), the country’s biggest hardware store chain, appointed former Pumpkin Patch head Neil Cowie as its new chief executive. More >>
Kiwi Income manager stays mum on internalisation proposal
Wednesday, 31 July 2013, 10:54 am | BusinessDesk
July 31 (BusinessDesk) - The manager of Kiwi Income Property Trust didn’t give investors any more clues on a proposal to bring its contract inhouse, but did share growing optimism about state of retail and Auckland office space. More >>
Xero’s cash burn accelerates as costs run ahead of sales
Wednesday, 31 July 2013, 10:23 am | BusinessDesk
July 31 (BusinessDesk) – Xero, the cloud-based accounting firm, burned through more cash last quarter as the company’s rapid expansion saw wages, advertising and marketing payments run ahead of sales. More >>
Auckland Airport earnings just within regulator’s tolerance
Wednesday, 31 July 2013, 9:37 am | BusinessDesk
July 31 (BusinessDesk) - Auckland International Airport, the country’s main gateway, isn’t extracting excessive profits as its expected earnings fall just within the regulator’s tolerance. More >>
NZ dollar little changed after Fonterra raises forecast
Wednesday, 31 July 2013, 9:21 am | BusinessDesk
July 31 (BusinessDesk) – The New Zealand dollar is little changed after Fonterra Cooperative Group hiked its 2014 forecast payout and ahead of a statement today which may provide further clues on when the US Federal Reserve is likely to pare back monetary ... More >>
Fonterra lifts 2014 forecast milk forecast
Wednesday, 31 July 2013, 8:55 am | BusinessDesk
Fonterra lifts 2014 forecast milk price payout to $7.50 on limited supply, weaker kiwi More >>
