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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 1137]
Methven agrees to buy Chinese manufacturer to improve profit
Monday, 29 July 2013, 2:17 pm | BusinessDesk
July 29 (BusinessDesk) – Methven, the tapware maker, will buy its Chinese manufacturer for as much as US$10 million, which it says will improve margins and profits. More >>
UPDATE Skellerup disputes value of $7.3 mln claim
Monday, 29 July 2013, 2:11 pm | BusinessDesk
July 29 (BusinessDesk) - Skellerup, the industrial rubber goods manufacturer, has rubbished a $7.3 million claim by PVC pipe maker Marley New Zealand, saying the value of the rubber rings supplied was about a tenth of that figure. More >>
MIDDAY UPDATE: Skellerup in $7.3 mln fight over rubber rings
Monday, 29 July 2013, 12:27 pm | BusinessDesk
July 29 (BusinessDesk) – Listed rubber goods maker Skellerup Holdings has found itself in a $7.3 million scrap with PVC pipe maker Marley New Zealand over the quality of its rubber rings. More >>
Record NZX dairy futures volume in July, but lagging YTD
Monday, 29 July 2013, 12:18 pm | BusinessDesk
July 29 (BusinessDesk) - NZX’s dairy futures market reached a record monthly trading volume in July as more than 2,000 skim milk powder contracts traded for the first time, though total volumes in all categories are lagging behind 2012 on a year-to-date ... More >>
Skellerup in $7.3 mln stoush over faulty rubber rings
Monday, 29 July 2013, 10:58 am | BusinessDesk
July 29 (BusinessDesk) - Skellerup Rubber Services, a subsidiary of NZX-listed Skellerup Holdings, has been accused of selling faulty rubber rings to PVC pipe maker Marley New Zealand, who is seeking some $7.3 million in damages from the industrial rubber ... More >>
Synlait Milk factory fire not expected to dent production
Monday, 29 July 2013, 9:30 am | BusinessDesk
July 29 (BusinessDesk) - Synlait Milk, which listed on the stock exchange last week, doesn’t expect a minor fire at its Dunsadel plant last night will affect production after all of its automated systems kicked into life. More >>
NZ dollar little changed, may face volatility ahead of Fed
Monday, 29 July 2013, 9:01 am | BusinessDesk
July 29 (BusinessDesk) – The New Zealand dollar is little changed ahead of a Federal Reserve meeting this week which is expected to signal the outlook for monetary stimulus in the world’s largest economy. More >>
World Week Ahead: Focus on the Fed
Monday, 29 July 2013, 7:27 am | BusinessDesk
July 29 (BusinessDesk) – The policymakers of the US Federal Reserve will meet over two days this week and investors are positioning themselves just in case the central bank further details its plan to rein in its bond buying. More >>
NZ dollar strengthens after RBNZ signals 2014 rate rise
Friday, 26 July 2013, 6:03 pm | BusinessDesk
July 26 (BusinessDesk) – The New Zealand dollar strengthened after the central bank signalled that inflationary pressures from housing and construction are likely to push up interest rates. More >>
MARKET CLOSE NZ shares rise as Tower, Fletcher recover
Friday, 26 July 2013, 5:42 pm | BusinessDesk
July 26 (BusinessDesk) – New Zealand shares rose as Tower recovered from its post-quake decline and Fletcher Building gained from its recent slide. OceanaGold fell after reporting a second-quarter impairment tied to the price of gold. More >>
Why do NZ service industries underperform?
Friday, 26 July 2013, 4:47 pm | BusinessDesk
July 26 (BusinessDesk) – New Zealand’s productivity watchdog is turning its attention to why service industries, making up more than two-thirds of economic activity, underperform compared to the same sector in other developed economies. More >>
TrustPower generated less energy for fewer customers in 1Q
Friday, 26 July 2013, 3:25 pm | BusinessDesk
July 26 (BusinessDesk) – TrustPower, the electricity generator and retailer controlled by Infratil, generated less energy for fewer customers as competition remained intense in the first quarter. More >>
Hachette to cease publishing in NZ, citing growth of e-books
Friday, 26 July 2013, 3:18 pm | BusinessDesk
July 26 (BusinessDesk) – Hachette New Zealand, the local arm of the global publisher whose titles include biographies of Richie McCaw and Mark Todd, is to cease publishing locally with the loss of 12 jobs including its long-serving management team. More >>
Poole steps down as Alliance chair, replaced by Taggart
Friday, 26 July 2013, 2:29 pm | BusinessDesk
July 26 (BusinessDesk) – Owen Poole is to step down from Alliance Group, after an association with the Invercargill-based meat company stretching back 18 years, and will be replaced as chairman by fellow board member Murray Taggart. More >>
Tax adviser Gilchrist found guilty in false invoicing scheme
Friday, 26 July 2013, 1:47 pm | BusinessDesk
July 26 (BusinessDesk) – High-profile tax adviser and former Inland Revenue Department official Brent Gilchrist has been found guilty of six charges of helping orchestrate a fictitious invoice writing scheme that sought to route funds through Vanuatu as ... More >>
Infratil, NZ Super Fund to triple their money on Z Energy
Friday, 26 July 2013, 1:45 pm | BusinessDesk
July 26 (BusinessDesk) – Infratil and the New Zealand Superannuation Fund stand to at least triple their money on Z Energy in next month’s initial public offering, having used their financial strength to buy the former Shell assets when markets ... More >>
MIDDAY UPDATE: SkyCity gains approval for Adelaide expansion
Friday, 26 July 2013, 12:31 pm | BusinessDesk
July 26 (BusinessDesk) – New Zealand gambling giant SkyCity Entertainment is poised for expansion across the Tasman after the South Australia state government passed a law extending the Auckland company’s exclusive casino licence. More >>
CORRECT: NZ dollar surges on more hawkish RBNZ
Friday, 26 July 2013, 11:08 am | BusinessDesk
July 26 (BusinessDesk) - The New Zealand dollar surged after the central bank yesterday signalled interest rate hikes were on the horizon, increasing the lure of local assets. More >>
Cash trading on NZX surges in first half, driven by equities
Friday, 26 July 2013, 10:18 am | BusinessDesk
July 26 (BusinessDesk) – NZX cash trading surged in the first half of the year as more equities changed hands. More >>
Caniwi Capital in $60M Tegel factory buy-up
Friday, 26 July 2013, 10:10 am | BusinessDesk
July 26 (BusinessDesk) – Wellington-based private investment company Caniwi Capital has spent $60 million to buy two recently refurbished, long lease chicken processing plant leases from the Tegel chicken company, and says it has up to $100 million more ... More >>
