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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 1139]
Heartland signals boardroom tweaks to meet RBNZ guidelines
Wednesday, 24 July 2013, 5:49 pm | BusinessDesk
July 24 (BusinessDesk) - Heartland New Zealand, the parent of the country’s newest bank, has tapped a new independent director to join its lending subsidiary and will have a quick reshuffle of its board after releasing earnings next month to meet Reserve ... More >>
MARKET CLOSE: NZ shares rise, Ryman, Ebos reach records
Wednesday, 24 July 2013, 5:49 pm | BusinessDesk
July 24 (BusinessDesk) – New Zealand shares rose as demand for companies with a solid earnings track and growth prospects helped lift retirement village Operator Ryman Healthcare and medical and pet distributables firm Ebos to new records. More >>
NZ dollar falls on weaker Chinese data as RBNZ looms
Wednesday, 24 July 2013, 5:12 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 >>
NZ dollar drops on weaker Chinese manufacturing
Wednesday, 24 July 2013, 3:07 pm | BusinessDesk
July 24 (BusinessDesk) – The New Zealand dollar dropped after a preliminary report showed Chinese manufacturing was weaker than expected, raising concerns the world’s second-largest economy is losing momentum. More >>
From the Farm: Dairy becomes a tiny bit more investable
Wednesday, 24 July 2013, 2:08 pm | BusinessDesk
July 24 (BusinessDesk) - What a debut Synlait Milk enjoyed yesterday. Market participants were surprised that it jumped by a quarter in its first day on the NZX. The shares have pushed higher again today, probably driven by retail investors and some offshore ... More >>
Credit Suisse fund sees insurance losses ‘well below’ US$1B
Wednesday, 24 July 2013, 12:49 pm | BusinessDesk
July 24 (BusinessDesk) - The 6.5-magnitude earthquake in Cook Strait last Sunday isn’t expected to lead to big insurance losses, which global financial services firm Credit Suisse expecting it to come in below US$1 billion. More >>
MIDDAY UPDATE: FMA launches lawsuit over Diligent trading
Wednesday, 24 July 2013, 12:16 pm | BusinessDesk
July 24 (BusinessDesk) – The Financial Markets Authority has launched a law suit against Diligent Board Member Services founder Brian Henry alleging he manipulated the market in 2010, which he says were mistakes he brought to the attention of the ... More >>
Infratil seeks fourth annual increase in fee pool for board
Wednesday, 24 July 2013, 12:00 pm | BusinessDesk
July 24 (BusinessDesk) – Infratil, New Zealand’s largest publicly listed infrastructure investor, wants to increase the pool of fees for its directors by 2.3 percent and also raise fees for directors of some subsidiaries. More >>
NZ unexpectedly posts June trade surplus
Wednesday, 24 July 2013, 11:32 am | BusinessDesk
NZ unexpectedly posts June trade surplus of $414M as oil imports slide faster than dairy exports More >>
Kiwi Income manager mulls proposal to internalise contract
Wednesday, 24 July 2013, 11:29 am | BusinessDesk
July 24 (BusinessDesk) – The manager of Kiwi Income Property Trust says it has received a proposal from ultimate parent Commonwealth Bank of Australia to internalise its management contract. More >>
Henry dismisses FMA claim as having 'no merit'
Wednesday, 24 July 2013, 11:00 am | BusinessDesk
July 24 (BusinessDesk) – Brian Henry, a venture capitalist who helped found Diligent Board Member Services, says a Financial Markets Authority suit alleging he manipulated the company’s shares in early 2010 “has no merit” and has already been considered ... More >>
FMA files civil proceeding against Brian Henry over Diligent
Wednesday, 24 July 2013, 10:19 am | BusinessDesk
July 24 (BusinessDesk) – The Financial Markets Authority has accused Brian Henry, venture capitalist, of market manipulation of shares in NZX-listed Diligent Board Member Services. More >>
Drought hits Q4 MightyRiver production, as forecast
Wednesday, 24 July 2013, 10:15 am | BusinessDesk
July 24 (BusinessDesk) – Partially privatised electricity company MightyRiverPower saw electricity generation and sales fall in the last quarter of the financial year to June 30, although the decline was forecast in the company’s April prospectus. More >>
NZ consumers more cautious about credit, keen to save
Wednesday, 24 July 2013, 9:51 am | BusinessDesk
July 24 (BusinessDesk) – New Zealanders have become more cautious about the use of credit and more likely to save following the global financial crisis, according to credit company Dun & Bradstreet. More >>
Wellington quake unlikely to feed higher reinsurance costs
Wednesday, 24 July 2013, 9:30 am | BusinessDesk
July 24 (BusinessDesk) - The limited level of damage sustained by Wellington in the 6.5 magnitude earthquake on Sunday is unlikely to result in higher reinsurance costs, according to local insurers. More >>
NZ dollar little changed ahead of OCR review, trade data
Wednesday, 24 July 2013, 8:56 am | BusinessDesk
July 24 (BusinessDesk) – The New Zealand dollar is little changed ahead of merchandise trade data today and the central bank’s review of the official cash rate tomorrow. More >>
While you were sleeping: Earnings fuel Dow record
Wednesday, 24 July 2013, 7:43 am | BusinessDesk
July 24 (BusinessDesk) – The Dow Jones Industrial Average rose to a record, bolstered by better-than-expected earnings and a more upbeat profit outlook from United Technologies. More >>
MARKET CLOSE: NZ shares rise on demand for ‘growth’ stories
Tuesday, 23 July 2013, 6:04 pm | BusinessDesk
July 23 (BusinessDesk) – New Zealand shares rose as investors renewed their appetite for growth stories such as Xero and Diligent Board Member Services, while Synlait Milk soared 25 percent in its NZX debut. More >>
CORRECT: Canterbury Uni's Carr appointed as RBNZ chair
Tuesday, 23 July 2013, 5:58 pm | BusinessDesk
(Fixes incorrect reference to Finance Minister appointing Carr to chair of board in lead, inserts minister’s role in appointing directors in 2nd graph) More >>
CORRECT: Govt dangles half million dollar R and D tax conces
Tuesday, 23 July 2013, 5:57 pm | BusinessDesk
July 23 (BusinessDesk) - Loss-making start-up companies with heavy research and development expenditure will be eligible for a tax-free loan of up to $500,000 annually under proposals outlined in a discussion paper released today. More >>
