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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 1138]
OceanaGold takes US$85.5M impairment as gold price falls
Friday, 26 July 2013, 10:01 am | BusinessDesk
July 26 (BusinessDesk) – OceanaGold Corp has declared a US$70.5 million net loss in the second quarter, reflecting a US$85.5 million non-cash writedown in the carrying value of its New Zealand gold mining operations. More >>
South Australia approves ‘game changing’ SkyCity casino law
Friday, 26 July 2013, 9:38 am | BusinessDesk
July 26 (BusinessDesk) – The government of South Australia has passed a law extending SkyCity Entertainment Group’s exclusive casino licence, clearing the way for a A$300 million expansion of its riverside complex. More >>
NZ dollar surges after RBNZ signals higher interest rates
Friday, 26 July 2013, 9:00 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 >>
While you were sleeping: Facebook mobile ads surprise
Friday, 26 July 2013, 7:49 am | BusinessDesk
July 26 (BusinessDesk) – The Nasdaq Composite Index advanced, bolstered by a surge in the shares of Facebook as better-than-expected earnings brightened the outlook for the social media company. More >>
NZ lawmakers recommend loophole for reflagging fishing ships
Thursday, 25 July 2013, 5:53 pm | BusinessDesk
July 25 (BusinessDesk) – The Parliament’s primary production select committee wants to give foreign fishing vessels loopholes to get around registering under a New Zealand flag in their report back on legislation forcing the ships to change ... More >>
MARKET CLOSE: NZ shares fall as kiwi gains on Aussie
Thursday, 25 July 2013, 5:36 pm | BusinessDesk
July 25 (BusinessDesk) – New Zealand shares fell, paced by Fletcher Building, Kathmandu and Michael Hill International as the kiwi rose to a five-year high against the Australian dollar, weighing on companies with business across the Tasman. More >>
NZ dollar climbs above 4-year high vs. Aust on hawkish RBNZ
Thursday, 25 July 2013, 5:10 pm | BusinessDesk
July 25 (BusinessDesk) - The New Zealand dollar rose to a four-and-a-half year high against its Australian counterpart amid diverging interest rate outlooks for the trans-Tasman neighbours. More >>
LIC annual profit falls 3% as bull value gains slow
Thursday, 25 July 2013, 2:33 pm | BusinessDesk
July 25 (BusinessDesk) – Livestock Improvement Corp., a farmer cooperative that sells bull semen and provides a dairy genetics database, posted a 3 percent drop in annual profit because its elite breeding bulls didn’t increase in value as much ... More >>
Z Energy to raise up to $900 mln via IPO
Thursday, 25 July 2013, 1:50 pm | BusinessDesk
Z Energy to raise up to $900 mln via IPO in payday for Infratil, NZ Super on 3-year investment More >>
NZ rich get richer in NBR Rich List led by Hart
Thursday, 25 July 2013, 1:10 pm | BusinessDesk
NZ rich get richer in NBR Rich List led by Hart; Drury’s wealth grows fastest More >>
Fonterra Fund slides 3.7% as dairy exporter’s 2013 earnings
Thursday, 25 July 2013, 12:41 pm | BusinessDesk
July 25 (BusinessDesk) – Fonterra Cooperative Group, the world’s largest exporter of dairy products, said this year’s earnings will miss forecast by about 7.3 percent, spurring a sell-off in the company’s listed fund. More >>
MIDDAY UPDATE: RBNZ’s Wheeler eyes housing, construction
Thursday, 25 July 2013, 12:15 pm | BusinessDesk
July 25 (BusinessDesk) – Reserve Bank governor Graeme Wheeler is increasingly putting the country’s hot property market and growing construction sector under the microscope as he looks for signs they may feed into general inflation. More >>
NZ Oil & Gas cedes promising Kakapo permit
Thursday, 25 July 2013, 11:42 am | BusinessDesk
July 25 (BusinessDesk) – New Zealand Oil & Gas, the nation’s biggest listed energy explorer, has ceded its Kakapo permit off the South Taranaki after failing to find a partner to share costs of a prospect it says could be several times bigger ... More >>
RBNZ zeroes in on threat of housing, construction inflation
Thursday, 25 July 2013, 10:51 am | BusinessDesk
July 25 (BusinessDesk) - Reserve Bank governor Graeme Wheeler is sharpening his focus on New Zealand’s bubbling housing and construction sectors and the threat they pose to inflation. More >>
NZ dollar gains as Wheeler signals end to stimulus
Thursday, 25 July 2013, 9:53 am | BusinessDesk
July 25 (BusinessDesk) – The New Zealand dollar gained after the Reserve Bank said it will need to remove monetary stimulus as heat in the housing and construction sector spills over into the broader economy and stokes inflation. More >>
Fonterra 2013 earnings to lag over NZ drought, Australia
Thursday, 25 July 2013, 9:42 am | BusinessDesk
July 25 (BusinessDesk) – Fonterra Cooperative Group, the world’s largest exporter of dairy products, said earnings would miss its forecast by about 7.3 percent because of the drought in New Zealand and intense competition in Australia. More >>
RBNZ keeps OCR at 2.5%, watches housing, building inflation
Thursday, 25 July 2013, 9:09 am | BusinessDesk
July 25 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.5 percent as consumer price increases remain muted, though he will mull a hike if the momentum in housing and construction spur broader inflation. More >>
NZ dollar weakens on greenback demand; RBNZ looms
Thursday, 25 July 2013, 8:20 am | BusinessDesk
July 25 (BusinessDesk) – The New Zealand dollar weakened amid broad demand for the greenback after better than expected economic reports bolstered optimism about a recovery in the world’s largest economy. More >>
While you were sleeping: Dow slips from record
Thursday, 25 July 2013, 6:59 am | BusinessDesk
July 25 (BusinessDesk) – Wall Street fell from a record high as disappointing earnings from companies including Caterpillar gave investors reasons to pause. More >>
RESEND: NZ dollar falls on weaker Chinese manufacturing
Wednesday, 24 July 2013, 6:20 pm | BusinessDesk
July 24 (BusinessDesk) - The New Zealand dollar fell after figures today showed Chinese manufacturing was weaker than expected and Australian inflation was faster than anticipated, while at home traders look ahead to the Reserve Bank’s interest rate review tomorrow. More >>
