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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 1150]
Distance, weak local competition, hurt NZ productivity
Tuesday, 2 July 2013, 1:42 pm | BusinessDesk
July 2 (BusinessDesk) – New research presented to a symposium on New Zealand’s poor productivity finds distance from export markets continues to be a major factor to explain what should be much better performance, along with long-known weakness ... More >>
NZ commodity prices fall 3.7% in June, led by milk powder
Tuesday, 2 July 2013, 1:39 pm | BusinessDesk
NZ commodity prices fall 3.7% in June, led by milk powder, beef; wool rises More >>
Gea Process Engineering boosts 2012 profits
Tuesday, 2 July 2013, 1:34 pm | BusinessDesk
July 2 (BusinessDesk) – Gea Process Engineering, which is building the world’s largest spray dryer for Fonterra Cooperative Group, posted an 8.1 percent increase in 2012 profit after buying powder handling specialist Nu-Con. More >>
Lombard Finance receiver in talks with directors, 3rd party
Tuesday, 2 July 2013, 12:54 pm | BusinessDesk
Lombard Finance receiver still in settlement talks with ex-directors, eyes claim against 3rd party More >>
Lombard directors sentenced to home detention
Tuesday, 2 July 2013, 12:42 pm | BusinessDesk
July 2 (BusinessDesk) - The Court of Appeal has sentenced all four former directors of Lombard Finance & Investments to home detention, having accepted the initial sentences were “manifestly inadequate.” More >>
MIDDAY UPDATE: Tower trumpets new boss
Tuesday, 2 July 2013, 12:15 pm | BusinessDesk
July 2 (BusinessDesk) – Tower has named David Hancock as its new chief executive to replace long-standing leader, Rob Flannagan. More >>
Fonterra to spend $27M lifting capacity at Te Rapa storage
Tuesday, 2 July 2013, 11:21 am | BusinessDesk
July 2 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, plans to spend $27 million to double storage capacity at its Te Rapa site, which is currently under-capacity. More >>
Tower names Hancock as new CEO, replacing Flannagan
Tuesday, 2 July 2013, 9:19 am | BusinessDesk
July 2 (BusinessDesk) – Tower named director David Hancock as its new chief executive, replacing Rob Flannagan who resigned from the general insurer in March. More >>
BUSINESS BREAKDOWN: We don’t know how lucky we are
Tuesday, 2 July 2013, 9:13 am | BusinessDesk
July 2 (BusinessDesk) – Fresh from a swing through the US, Treasury Secretary Gabriel Makhlouf is back in the country and more convinced than ever that New Zealand is at a historic moment in its economic development. More >>
NZ dollar edges up as investors boost holdings after 2Q fall
Tuesday, 2 July 2013, 8:50 am | BusinessDesk
July 2 (BusinessDesk) – The New Zealand dollar edged up as investors increased their holdings in the local currency after a 6.7 percent slide last quarter amid expectations super-loose monetary conditions in the US will end this year. More >>
While you were sleeping: US manufacturing brightens
Tuesday, 2 July 2013, 7:39 am | BusinessDesk
July 2 (BusinessDesk) – Manufacturing data from the US was better than expected, as were those from Europe, but China's data offered another sign that growth in the world's second-largest economy is dimming. More >>
Z Energy to shut Gracefield chemical plant next March
Monday, 1 July 2013, 6:09 pm | BusinessDesk
July 1 (BusinessDesk) - Z Energy, the service station chain slated for a listing later this year, will shut its chemical manufacturing plant in Gracefield next March after failing to find a buyer for the plant. More >>
Tax dept defines tax avoidance rules for 1st time since 1990
Monday, 1 July 2013, 6:08 pm | BusinessDesk
July 1 (BusinessDesk) – The Inland Revenue Department has spelled out its final view on what constitutes tax avoidance for the first time since 1990 in a 135 page document that the accounting profession and taxpayers have waited years to see. More >>
MARKET CLOSE: NZ shares fall with ASX, Chinese data
Monday, 1 July 2013, 5:52 pm | BusinessDesk
July 1 (BusinessDesk) – New Zealand shares fell in a session disrupted by a stock exchange outage, as Australian stocks fell and Chinese manufacturing weakened. A2 Corp, Argosy Property and NZX paced the decline. More >>
NZ dollar pares decline at start of data-heavy week
Monday, 1 July 2013, 5:17 pm | BusinessDesk
July 1 (BusinessDesk) - The New Zealand dollar pared losses in local trading as investors prepare for a new quarter in what’s expected to be a data-heavy week, with central bank meetings and US employment figures. More >>
Argosy Property to raise $87M in 1-for7 rights issue at 89c
Monday, 1 July 2013, 3:34 pm | BusinessDesk
July 1 (BusinessDesk) – Argosy Property plans to raise about $87 million in a rights issue to repay bank debt used to acquire properties this year. More >>
UPDATE:NZ shares fall 0.3% after trading resumes
Monday, 1 July 2013, 3:21 pm | BusinessDesk
July 1 (BusinessDesk) - The NZX 50 index fell 0.3 percent after trading on New Zealand’s stock market resumed after a three-hour outage over connectivity issues. More >>
UPDATED: NZX trading halted until exchange confident of fix
Monday, 1 July 2013, 2:11 pm | BusinessDesk
July 1 (BusinessDesk) - All trading on New Zealand’s stock market has been halted due to technical issues in the second major outage this year and won’t resume until the exchange operator is confident it will work. More >>
NZ Super Fund allocates $40M to Pioneer Capital fund
Monday, 1 July 2013, 1:40 pm | BusinessDesk
July 1 (BusinessDesk) – The New Zealand Superannuation Fund, which invests to fund the country’s universal state pension, will place $40 million in a new $150 million venture capital fund to finance fast-growing small to medium-sized businesses with ... More >>
NZX trading halted over technical issues
Monday, 1 July 2013, 1:25 pm | BusinessDesk
July 1 (BusinessDesk) - All trading on New Zealand’s stock market has been halted due to technical issues in the second major outage this year. More >>
