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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 1145]
Govt faces delay on 4G auction as Waitangi claim revived
Friday, 12 July 2013, 12:14 pm | BusinessDesk
July 12 (BusinessDesk) – The government’s plan to auction 4G spectrum in September or October faces delay, with Maori claimants to spectrum rights reactivating a dormant claim to the Waitangi Tribunal by seeking an urgent hearing on the claim. More >>
Energy Mad relents, gives numbers for modest 1Q earnings
Friday, 12 July 2013, 10:54 am | BusinessDesk
July 12 (BusinessDesk) - Energy Mad, whose shares have jumped more than 20 percent this week since it said first-quarter earnings were ahead of budget without giving details, has now released numbers showing it had only expected to earn $7,000. More >>
NZ dollar pares gain as traders digest Bernanke comments
Friday, 12 July 2013, 8:57 am | BusinessDesk
July 12 (BusinessDesk) – The New Zealand dollar gave up yesterday’s gains after traders decided comments by Federal Reserve chairman Ben Bernanke were not as dovish as initially thought and were more a reiteration of his previous stance. More >>
From the Farm: Organic failure?
Friday, 12 July 2013, 8:20 am | BusinessDesk
July 12 (BusinessDesk) - McDonald’s did an ad campaign that rounded up people with the surname Chicken to advertise its McSpicy Chicken Burger and nuggets. More >>
While you were sleeping: Bernanke lifts stocks, bonds
Friday, 12 July 2013, 7:31 am | BusinessDesk
July 12 (BusinessDesk) – Stocks and bonds rose after US Federal Reserve Chairman Ben Bernanke said highly accommodative policy would be needed for some time yet, reassuring investors that the central bank is not about to begin reducing its bond-buying ... More >>
MARKET CLOSE: NZ shares edge up; Ebos, Ryman gain
Thursday, 11 July 2013, 5:42 pm | BusinessDesk
July 11 (BusinessDesk) – New Zealand shares edged up, paced by Ebos Group, while Ryman Healthcare closed at a new record and Telecom fell. Trading was relatively light as investors look ahead to earnings season. More >>
Royal FrieslandCampina takes 7.5% Synlait stake
Thursday, 11 July 2013, 5:39 pm | BusinessDesk
July 11 (BusinessDesk) - Royal FrieslandCampina, the Dutch dairy group which counts Fonterra boss Theo Spierings as alumni, has taken a 7.5 percent stake in Rakaia-based Synlait Milk as part of the local processor’s initial public offering. More >>
NZ dollar climbs to 3-week high after Bernanke talks
Thursday, 11 July 2013, 5:03 pm | BusinessDesk
July 11 (BusinessDesk) - The New Zealand dollar rose above 79 US cents for the first time in three weeks after US Federal Reserve chairman Ben Bernanke talked down the prospect of unwinding his money printing programme, sparking a sell-off in the greenback. More >>
Wellington Airport 2013 returns within regulator guidelines
Thursday, 11 July 2013, 4:51 pm | BusinessDesk
July 11 (BusinessDesk) - Wellington International Airport, which was accused of price gouging by Air New Zealand, has kept its 2013 returns within the Commerce Commission’s guidelines, and has started talking to airlines over future landing fees for carriers. More >>
NZ must juggle healthcare, pension cost and debt
Thursday, 11 July 2013, 2:02 pm | BusinessDesk
July 11 (BusinessDesk) – New Zealand needs to consider how it is going to fund rising healthcare and pension costs in the future while avoiding a blowout in government debt, the Treasury says in its latest statement on the nation’s long-term fiscal ... More >>
MIDDAY UPDATE: FMA boss Hughes calls it a day
Thursday, 11 July 2013, 12:08 pm | BusinessDesk
July 11 (BusinessDesk) - Financial Markets Authority boss Sean Hughes will call it a day at the three-year-old market watchdog at the end of this year. More >>
Credit card companies can't be tax collectors: Mastercard
Thursday, 11 July 2013, 12:03 pm | BusinessDesk
July 11 (BusinessDesk) – Credit card companies are “not set up” to collect tax on cardholder transactions and even if it were possible, online shoppers would quickly migrate to other payment platforms, such as PayPal, says Alfred Naffah, New ... More >>
FMA boss Hughes to leave at end of year
Thursday, 11 July 2013, 11:44 am | BusinessDesk
July 11 (BusinessDesk) - Financial Markets Authority chief executive Sean Hughes won’t seek a second term in charge of the market watchdog, finishing up at the end of the year. More >>
NZ food prices post biggest gain since GST hike in Oct 2010
Thursday, 11 July 2013, 11:43 am | BusinessDesk
NZ food prices post biggest gain since GST hike in October 2010, led by fruit, vegetables More >>
Skyline FY profit falls 18% on Christchurch casino writedown
Thursday, 11 July 2013, 11:07 am | BusinessDesk
July 11 (BusinessDesk) – Skyline Enterprises, the Queenstown-based tourism company whose shares trade on the Unlisted platform, said its so-called distributable profit fell 18 percent in 2013 after it wrote down the value of the Christchurch casino ... More >>
NZ manufacturing growth slows in June from 9-year high
Thursday, 11 July 2013, 11:00 am | BusinessDesk
July 11 (BusinessDesk) - New Zealand manufacturing activity remained in hearty expansion mode last month, while slowing from a nine-year high in May, with new orders and production driving growth. More >>
Kiwi retraces earlier gains on better European news
Thursday, 11 July 2013, 8:20 am | BusinessDesk
July 11 (BusinessDesk) – The New Zealand dollar retraced earlier gains against the euro and pound on better economic data from Europe. More >>
While you were sleeping: No rush to taper, Fed says
Thursday, 11 July 2013, 7:33 am | BusinessDesk
July 11 (BusinessDesk) – Wall Street was mixed as minutes from the latest Federal Open Market Committee meeting showed policy makers were looking for further strength in the US labour market before easing the central bank's bond-buying program. More >>
MARKET CLOSE: NZ shares rise; Auckland Airport, SkyCity gain
Wednesday, 10 July 2013, 5:47 pm | BusinessDesk
July 10 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index to a new two-month high as Auckland International Airport announced increased traffic with Asia, SkyCity Entertainment rose and Fletcher Building benefited from offshore ... More >>
NZ dollar climbs to 5-week high on TWI basis
Wednesday, 10 July 2013, 5:15 pm | BusinessDesk
NZ dollar climbs to 5-week high on TWI basis as euro-zone, UK look shaky More >>
