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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 1149]
BUSINESS BREAKDOWN: Kiwi soars v.s Australian dollar
Thursday, 4 July 2013, 9:55 am | BusinessDesk
July 4 (BusinessDesk) – One of New Zealand’s best defences against the global financial storm of the last five years, a robust Australian economy, is on the wane, and along with it the competitive New Zealand dollar exchange rate that cushioned ... More >>
AMP Capital-led group to buy Powerco stake for $525 mln
Thursday, 4 July 2013, 9:39 am | BusinessDesk
July 4 (BusinessDesk) – A group led by AMP Capital agreed to buy 42 percent of Powerco, New Zealand’s second-biggest gas and electricity network company, from Canada’s Brookfield Infrastructure Partners for $525 million. More >>
NZ dollar touches highest since 2008 vs. Australian dollar
Thursday, 4 July 2013, 9:05 am | BusinessDesk
NZ dollar touches highest since 2008 vs. A$ after Stevens says interest rates decision was close More >>
While you were sleeping: Solid US jobs data
Thursday, 4 July 2013, 4:03 am | BusinessDesk
July 4 (BusinessDesk) – Wall Street was mixed as better-than-anticipated US jobs data offset concern about political unrest in Egypt and ministerial resignations in Portugal. More >>
MARKET CLOSE: NZ shares fall with ASX as kiwi gains on A$
Wednesday, 3 July 2013, 5:47 pm | BusinessDesk
July 3 (BusinessDesk) – New Zealand shares fell, tracking a slide in Australian stocks and as the kiwi dollar reached a four-year high against the Australian dollar, hurting companies with businesses across the Tasman such as Fletcher Building. More >>
NZ dollar hits 4 ½ year high vs. A$ after retail sales
Wednesday, 3 July 2013, 5:12 pm | BusinessDesk
NZ dollar hits 4 ½ year high vs. A$ after weaker than expected retail sales across the Tasman More >>
Cottonsoft narrows loss in 2012, gets less cash from parent
Wednesday, 3 July 2013, 3:44 pm | BusinessDesk
July 3 (BusinessDesk) – Cottonsoft, the toilet tissue maker working to repair its reputation after criticism of parent Asia Pulp & Paper’s tropical rainforest logging, narrowed its loss in 2012 and took a smaller shareholder advance, its accounts ... More >>
Chch City to vote on Crown manager after consenting fiasco
Wednesday, 3 July 2013, 1:35 pm | BusinessDesk
July 3 (BusinessDesk) – Christchurch City Council will vote tomorrow on a government-appointed Crown manager and chief executive Tony Marryatt has taken leave after the city lost its ability to issue building consents. More >>
Griffin’s posts biggest annual profit under PEP owners
Wednesday, 3 July 2013, 12:34 pm | BusinessDesk
Griffin’s posts biggest annual profit under PEP owners in 2012; no immediate plans to sell More >>
MIDDAY UPDATE: Dairy prices rise at Fonterra auction
Wednesday, 3 July 2013, 12:13 pm | BusinessDesk
July 3 (BusinessDesk) – Dairy prices at Fonterra Cooperative Group’s latest online auction crept up for a second time, a day after figures showed local prices were falling on the international market. More >>
Auckland house prices edge up 0.8% in June, Barfoot says
Wednesday, 3 July 2013, 11:43 am | BusinessDesk
July 3 (BusinessDesk) - Auckland house prices edged up for a second month in June in the face of fewer listings and intense demand among property buyers, according to Barfoot & Thompson, the city’s biggest realtor. More >>
NZX cash trading slows in June
Wednesday, 3 July 2013, 9:35 am | BusinessDesk
July 3 (BusinessDesk) - The value of cash market trading on the NZX slowed last month, from a near-doubling in May on the coattails of the MightyRiverPower listing, though was still up from June 2012. More >>
BUSINESS BREAKDOWN: Fed chiefs talk the talk
Wednesday, 3 July 2013, 9:26 am | BusinessDesk
July 3 (BusinessDesk) – Stocks on Wall Street and government bonds from Wellington to Washington have fallen since Federal Reserve chairman Ben Bernanke said on June 19 that the central bank may wind back its US$85 billion-a-month of bond buying this ... More >>
NZ dollar weakens as improving US economy may see end to QE
Wednesday, 3 July 2013, 9:10 am | BusinessDesk
July 3 (BusinessDesk) – The New Zealand dollar weakened as signs of an improvement in the US economy buoyed speculation the Federal Reserve will start tapering its asset purchases. More >>
While you were sleeping: Dudley sends Wall Street lower
Wednesday, 3 July 2013, 7:46 am | BusinessDesk
July 3 (BusinessDesk) – Wall Street fell, giving up earlier gains, as comments by Federal Reserve Bank of New York President William Dudley suggested the central bank might reduce monetary stimulus provided by its bond-buying program. More >>
Dairy product prices rise 0.7% in GDT auction, volumes jump
Wednesday, 3 July 2013, 7:26 am | BusinessDesk
Prices of dairy products rise 0.7% in GDT auction, volumes at 6-month high More >>
MARKET CLOSE: NZ shares gain with ASX; Fletcher, OGC up
Tuesday, 2 July 2013, 6:09 pm | BusinessDesk
July 2 (BusinessDesk) – New Zealand shares rose after a strong rebound in the Australian market helped lift companies with significant business across the Tasman, including Fletcher Building. OceanaGold surged after spot gold rebounded from a three-year ... More >>
NZ dollar gains vs. A$ after RBA says own currency too high
Tuesday, 2 July 2013, 5:34 pm | BusinessDesk
NZ dollar gains vs. Aust dollar after RBA keeps rates on hold, says its currency too high More >>
RBA says currency may extend slide, keeps easing bias
Tuesday, 2 July 2013, 4:56 pm | BusinessDesk
July 2 (BusinessDesk) – The Reserve Bank of Australia said its currency may extend a 10 percent slide since April as the bank maintained its easing bias and kept its benchmark cash rate unchanged at 2.75 percent. More >>
Restaurant Brands closes Starbucks stores before sale call
Tuesday, 2 July 2013, 3:23 pm | BusinessDesk
July 2 (BusinessDesk) – Restaurant Brands New Zealand, which is counting on new burger chain Carl’s Jr to drive future earnings growth, is closing unprofitable stores at its worst-performing Starbucks unit ahead of a possible sale next year. More >>
