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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 1144]
UPDATE: Renaissance to lay off up to 15 staff, close stores
Monday, 15 July 2013, 2:55 pm | BusinessDesk
UPDATE Renaissance to lay off up to 15 workers in store closures, sees gains in full-service retailing More >>
NZ Dollar Outlook: Kiwi to take lead from US, Bernanke
Monday, 15 July 2013, 1:45 pm | BusinessDesk
NZ Dollar Outlook: Kiwi likely to take lead from US as Fed’s Bernanke speaks More >>
High Court clears another hurdle for Bathurst Resources
Monday, 15 July 2013, 1:37 pm | BusinessDesk
July 15 (BusinessDesk) – Would-be West Coast coking coal miner Bathurst Resources has taken another small step closer to open cast mining on the Denniston Plateau following the High Court’s rejection of an appeal on a side issue from the Royal ... More >>
Renaissance says 2013 earnings will be ‘disappointing’
Monday, 15 July 2013, 1:28 pm | BusinessDesk
July 15 (BusinessDesk) - Renaissance Corp, the retailer of Apple products and operator of a design school, said annual earnings will be another disappointing result due to its ailing retail unit, and it’s shutting four of nine stores in a bid to restore ... More >>
Genesis Energy bond holders elect to sell 28% of bonds
Monday, 15 July 2013, 1:06 pm | BusinessDesk
July 15 (BusinessDesk) - Genesis Energy bond investors have opted to sell 27.7 percent, or about $77.8 million, of the state-owned power company’s hybrid bonds rather than accept a lower interest rate. More >>
MIDDAY UPDATE: Lending limits coming as early as August
Monday, 15 July 2013, 12:09 pm | BusinessDesk
July 15 (BusinessDesk) - Limits on how much banks can lend to potential house buyers with small deposits may come in as early as next month, according to a survey of economists. More >>
Bright Dairy cleared to creep higher after Synlait float
Monday, 15 July 2013, 11:55 am | BusinessDesk
July 15 (BusinessDesk) - China’s Bright Dairy & Food can build its stake in Synlait Milk back up to 41 percent once the dairy processor has joined the stock exchange later this month. More >>
NZ services sector activity slips in June, stays positive
Monday, 15 July 2013, 11:22 am | BusinessDesk
July 15 (BusinessDesk) - New Zealand’s services sector slipped from a six-year high in June while remaining broadly in expansion mode, led by new orders and sales. More >>
NZX’s Smartshares unit eyes new ETFs
Monday, 15 July 2013, 10:50 am | BusinessDesk
July 15 (BusinessDesk) – Smartshares, the NZX unit that offers exchange-traded funds and a low-cost KiwiSaver product that invests in them, is planning to launch three new ETFs targeting global equities, bonds and possibly the New Zealand energy ... More >>
F&P Finance FY profit up 20% on lending growth
Monday, 15 July 2013, 10:50 am | BusinessDesk
July 15 (BusinessDesk) - Fisher & Paykel Finance, whose parent F&P Appliances was bought out by China’s Haier last year, boosted annual profit 20 percent on lending growth on its Q Card and cheaper funding from its debentures. More >>
NZ dollar holds near week low on concern over Chinese growth
Monday, 15 July 2013, 8:50 am | BusinessDesk
July 15 (BusinessDesk) – The New Zealand dollar is trading near a week low on concern about a slowdown in China, the country’s second-largest trading partner. More >>
World Week Ahead: US earnings focus
Monday, 15 July 2013, 6:49 am | BusinessDesk
July 15 (BusinessDesk) – All eyes are set for the latest round of US corporate earnings after Federal Reserve Chairman Ben Bernanke finally managed to reassure investors that the central bank's stimulus effort is not going to evaporate any time ... More >>
Curbs on high LVR loans may come as soon as August
Friday, 12 July 2013, 6:13 pm | BusinessDesk
July 12 (BusinessDesk) – New Zealand’s Reserve Bank, concerned about spiralling house prices causing financial instability, could force lenders to limit borrowings as early as next month, economists say. More >>
MARKET CLOSE: NZ shares rise for 7th session
Friday, 12 July 2013, 6:01 pm | BusinessDesk
July 12 (BusinessDesk) – New Zealand shares rose for the seventh straight session amid confidence the Federal Reserve won’t rush to end its stimulus programme and as earnings season looms at home. Telecom and OceanaGold rose while Diligent Board ... More >>
Power companies dominate Top 10 as MRP enters NZX50
Friday, 12 July 2013, 5:59 pm | BusinessDesk
July 12 (BusinessDesk) - State-controlled power company MightyRiverPower will join the benchmark NZX 50 index later this month as the sixth biggest company on the stock market. More >>
NZ dollar up 2.1 percent vs greenback this week
Friday, 12 July 2013, 5:15 pm | BusinessDesk
July 12 (BusinessDesk) - The New Zealand dollar is heading for a 2.1 percent weekly gain against the greenback after the local currency jumped to a three-week high yesterday when investors reassessed whether the US Federal Reserve will start slowing down ... More >>
NZ Productivity Commission to look at regulatory regime
Friday, 12 July 2013, 4:22 pm | BusinessDesk
July 12 (BusinessDesk) - The Productivity Commission has New Zealand’s regulatory regimes in its sights with the launch of an inquiry aiming to improve the design and operation of the nation’s watchdogs and rule-makers. More >>
MONEY TALKS: Taking the house in Invercargill
Friday, 12 July 2013, 2:55 pm | BusinessDesk
July 12 (BusinessDesk) – The doom and gloom brigade will have you thinking that unless you’re already on the property ladder your chances are well and truly gone. More >>
NZ inflation data for 2Q unlikely to fuel rate hikes
Friday, 12 July 2013, 1:10 pm | BusinessDesk
July 12 (BusinessDesk) – New Zealand’s annual inflation may have returned to 14-year lows in the second quarter as a record high currency weighed on prices of imported clothing, competition drove down telecommunications costs and fuel costs ... More >>
MIDDAY UPDATE: Novopay blunder costs Aussie firm $20 mln
Friday, 12 July 2013, 12:22 pm | BusinessDesk
July 12 (BusinessDesk) – The Novopay debacle over the past year where the payroll system for the country’s teachers repeatedly failed has cost the Australian IT firm, Talent2, $20 million. More >>
