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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 1152]
Capital + Merchant's Douglas, Nicholls get jail term top-up
Friday, 28 June 2013, 10:55 am | BusinessDesk
June 28 (BusinessDesk) - Convicted Capital + Merchant fraudsters Wayne Douglas and Neal Nicholls have had their prison sentences topped up after pleading guilty to Securities Act charges of making untrue statements in offer documents. More >>
Restaurant Brands sees 2014 profit 'a little ahead' of 2013
Friday, 28 June 2013, 10:46 am | BusinessDesk
June 28 (BusinessDesk) – Restaurant Brands, which operates four fast-food chains, expects 2014 annual profit to be “a little ahead” of the previous year as sales rise in a challenging economic environment and costs remain under control. More >>
OceanaGold to put Reefton in ‘care and maintenance’ in 2015
Friday, 28 June 2013, 9:25 am | BusinessDesk
June 28 (BusinessDesk) - OceanaGold Corp, whose share price has plunged 59 percent in the past three months, will put off production at its Reefton mine, putting it into care and maintenance in mid-2015 until the price of gold improves. More >>
Operating earnings turn positive for 2degrees in third year
Friday, 28 June 2013, 9:04 am | BusinessDesk
June 28 (BusinessDesk) – Mobile operator Two Degrees has turned in its first positive earnings before interest, tax, depreciation and amortisation since it entered the market three years ago in a challenge to Telecom and Vodafone. More >>
NZ dollar holds value as Fed reassures markets on stimulus
Friday, 28 June 2013, 8:44 am | BusinessDesk
June 28 (BusinessDesk) – The New Zealand dollar held its value after Federal Reserve officials assured markets about the withdrawal of economic stimulus. More >>
While you were sleeping: Furious Fed backpedalling
Friday, 28 June 2013, 7:29 am | BusinessDesk
June 28 (BusinessDesk) – Wall Street gained as US Federal Reserve officials stepped up their backpedalling to reassure investors that the central bank's bond-buying program is not about to disappear into the night. More >>
From the Farm: Confidence returns
Thursday, 27 June 2013, 7:25 pm | BusinessDesk
What a difference two months make. In the latest ANZ Business Outlook, for June, a net 39.6 percent of firms in the agricultural sector expect general business conditions to improve in the year ahead. And a net 23.4 percent expect profits to rise. More >>
MARKET CLOSE: NZ shares extend rally on US stimulus view
Thursday, 27 June 2013, 6:29 pm | BusinessDesk
June 27 (BusinessDesk) - New Zealand shares extended their rally from a three-month low earlier in the week as stock markets around the world recovered on the prospect of slower US growth tempering optimism for higher interest rates. OceanaGold led ... More >>
NZ dollar climbs above 78 US cents
Thursday, 27 June 2013, 5:49 pm | BusinessDesk
June 27 (BusinessDesk) - The New Zealand dollar rose above 78 US cents as weak US economic data cast doubt on how quickly the Federal Reserve will stop its money-printing policy. More >>
RBNZ net buyer of kiwi dollar in May as currency falls 5.6%
Thursday, 27 June 2013, 3:25 pm | BusinessDesk
June 27 (BusinessDesk) - The Reserve Bank was a net buyer of kiwi dollars in May, a month when the currency sank 5.6 percent against the greenback. More >>
Smiths City shares jump 10% as FY profit climbs by more than
Thursday, 27 June 2013, 2:52 pm | BusinessDesk
June 27 (BusinessDesk) - Smiths City, the Christchurch-based retailer, boosted annual profit by more than a fifth as a strong rural sector underpinned gains in the South Island. The shares climbed 10 percent to a three month high 65 cents. More >>
NZ business confidence rises to highest in more than 3 years
Thursday, 27 June 2013, 2:46 pm | BusinessDesk
June 27 (BusinessDesk) – New Zealand business confidence rose to its highest in more than three years in June, led by the construction sector. More >>
Gisborne-Napier railway promoters have yet to convince Quinn
Thursday, 27 June 2013, 2:39 pm | BusinessDesk
June 27 (BusinessDesk) – A group working to resurrect the mothballed Gisborne-to-Napier railway line haven’t yet convinced KiwiRail chief Jim Quinn they can attract enough freight to make an economic business. More >>
Fletcher distribution boss Beveridge resigns
Thursday, 27 June 2013, 2:21 pm | BusinessDesk
June 27 (BusinessDesk) - Fletcher Building’s head of the distribution division, John Beveridge, has resigned after four years in the job. More >>
NZ govt agrees to fund 2/3s of rebuilding key Chch projects
Thursday, 27 June 2013, 1:42 pm | BusinessDesk
June 27 (BusinessDesk) – New Zealand’s government has agreed to fund two thirds of the cost to rebuild Christchurch key public buildings, precincts and essential infrastructure such as water pipes and roads damaged by the 2010-11 earthquakes, ... More >>
MIDDAY UPDATE: RBNZ favours LVR restrictions for housing
Thursday, 27 June 2013, 12:17 pm | BusinessDesk
June 27 (BusinessDesk) – The Reserve Bank is backing restrictions on low equity home loans to battle the country’s heating property market, saying they offer the “greatest potential” to curb demand. More >>
Raising rates now not the answer for housing bubble: Spencer
Thursday, 27 June 2013, 11:45 am | BusinessDesk
June 27 (BusinessDesk) - The Reserve Bank says raising interest rates now isn’t the right policy response to an overheated housing market and the bank considers restricting low equity home loans as offering the “greatest potential” to curb ... More >>
NZ trade surplus smaller than expected in May
Thursday, 27 June 2013, 11:32 am | BusinessDesk
June 27 (BusinessDesk) – New Zealand recorded a smaller-than-expected trade surplus last month as exports including crude oil and meat missed estimates, offset by a drop in imports. More >>
Chorus cops 13% of $50 mln telecommunications levy
Thursday, 27 June 2013, 9:10 am | BusinessDesk
June 27 (BusinessDesk) - Chorus, the network operator spun out of Telecom, will have to stump up $6.4 million for its share of the annual levy to fund commercially non-viable telecommunications services after raising concerns about its ability to recoup the ... More >>
NZ dollar gains after weaker US growth
Thursday, 27 June 2013, 8:50 am | BusinessDesk
June 27 (BusinessDesk) – The New Zealand dollar gained after a report showed the US economy grew less than previously estimated in the first quarter, easing speculation the Federal Reserve will start slowing monetary stimulus any time soon. More >>
