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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 1153]
While you were sleeping: US GDP growth downgraded
Thursday, 27 June 2013, 7:39 am | BusinessDesk
June 27 (BusinessDesk) – Equities on Wall Street and in Europe gained as investors found value, while a downgraded pace of economic growth for the US helped ease concern that the Federal Reserve is about to take its foot of the monetary stimulus pedal. More >>
MARKET CLOSE: NZ shares rebound; Vital up on small placement
Wednesday, 26 June 2013, 6:11 pm | BusinessDesk
June 26 (BusinessDesk) – New Zealand shares rallied back from a three-month low, as equity markets recovered from Tuesday’s selloff after better US economic figures. Vital Healthcare bounced back after it detailed a smaller rights offer than some ... More >>
NZ dollar little changed as Chinese liquidity jitters linger
Wednesday, 26 June 2013, 5:36 pm | BusinessDesk
June 26 (BusinessDesk) - The New Zealand dollar was little changed in local trading as investors remained on edge over China’s banking liquidity, creating concerns about the strength of the world’s second-biggest economy. More >>
Accountancy competition shake-up looms under Foss reforms
Wednesday, 26 June 2013, 5:19 pm | BusinessDesk
June 26 (BusinessDesk) – New Zealand accountants and auditors will be able to offer services more widely, incorporate as companies, and amalgamate with their Australian colleagues under a single professional body under a review of the profession. More >>
Spy agency oversight bill sends chill up telco spines
Wednesday, 26 June 2013, 3:29 pm | BusinessDesk
June 26 (BusinessDesk) - New Zealand’s telecommunications companies are confident their network security regimes are robust and are concerned introducing expanded oversight by the country’s foreign-facing spy agency will create new commercial ... More >>
Chch’s red zone may have to fund their own infrastructure
Wednesday, 26 June 2013, 1:16 pm | BusinessDesk
June 26 (BusinessDesk) – Christchurch residents who continue to live in “red zone” areas may have to provide their own generator, water supply, sewerage facilities and roads in the future as local authorities won’t fix services in those areas. More >>
Bettle, Arkinstall, Forsyth plead guilty in Dom Finance case
Wednesday, 26 June 2013, 12:33 pm | BusinessDesk
June 26 (BusinessDesk) – Former Dominion Finance and North South Finance directors Rick Bettle, Vance Arkinstall and Paul Forsyth have pleaded guilty to charges of making untrue statements in relation to the failed finance companies. More >>
MIDDAY UPDATE: NZ Post to cut 120 jobs as mail volume slides
Wednesday, 26 June 2013, 12:17 pm | BusinessDesk
June 26 (BusinessDesk) – New Zealand Post, the state-owned postal service, will reduce its processing centres to three from six, shedding a net 120 jobs, and has warned it may have to take more steps to cope with a slide in mail volumes that’s ... More >>
NZ Post to cut 120 jobs, shrink mail processing to 3 sites
Wednesday, 26 June 2013, 11:14 am | BusinessDesk
June 26 (BusinessDesk) – New Zealand Post, the state-owned postal service, will reduce its processing centres to three from six, shedding a net 120 jobs, as it seeks to rein in costs in the face of falling mail volumes. More >>
Transpower to pay div of $65.7M from d-cyphaTrade sale
Wednesday, 26 June 2013, 10:43 am | BusinessDesk
June 26 (BusinessDesk) - Transpower, the state-owned electricity grid company, will pay a special dividend of $65.7 million to the government this month after concluding the sale of derivatives trading unit to ASX in May. More >>
NorthWest may lift Vital stake up to 24.99% in rights offer
Wednesday, 26 June 2013, 10:32 am | BusinessDesk
NorthWest may lift Vital Healthcare stake up to 24.99% in $39.2M rights issue More >>
New Zealand dollar 'still a bit overvalued', English says
Wednesday, 26 June 2013, 10:11 am | BusinessDesk
June 26 (BusinessDesk) – The New Zealand dollar is “still a bit overvalued” but the nation has little influence as the kiwi is pushed about by expectations of monetary policy in the US, Finance Minister Bill English said. More >>
Mainfreight plans claim against former Wim Bosman owner
Wednesday, 26 June 2013, 10:06 am | BusinessDesk
June 26 (BusinessDesk) - Mainfreight, the global logistics company, intends mounting a compensation claim against the former owners of Netherlands-based Wim Bosman over the loss of a major customer. More >>
NZ dollar gains as investors reassured on Chinese liquidity
Wednesday, 26 June 2013, 8:37 am | BusinessDesk
June 26 (BusinessDesk) – The New Zealand dollar gained as investors were reassured China’s central bank would help ease a credit crunch that sparked concerns about growth in the world’s second-largest economy. More >>
While you were sleeping: Equities present value
Wednesday, 26 June 2013, 7:30 am | BusinessDesk
June 26 (BusinessDesk) – Stocks on both sides of the Atlantic advanced as investors found value after the recent slump and fresh assurances from central bankers in both China and the US. More >>
MARKET CLOSE: NZ shares fall on China jitters
Tuesday, 25 June 2013, 5:55 pm | BusinessDesk
June 25 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 Index to the lowest since early March, as fears of a Chinese credit crunch weighed on Asian equity markets. Vital Healthcare Property Trust fell after announcing a rights issue and ... More >>
NZ dollar may test 77 US cts as Asian stocks sink
Tuesday, 25 June 2013, 5:20 pm | BusinessDesk
NZ dollar may test 77 US cts as Asian stocks sink amid Chinese liquidity concerns More >>
UPDATED Bettle exits Powerco and business mentors’ board
Tuesday, 25 June 2013, 4:25 pm | BusinessDesk
(Updated to include Business in The Community resignation in lead and 4th graph, amends remaining roles in 5th graph.) More >>
Rick Bettle exits Powerco as Dominion Finance trial looms
Tuesday, 25 June 2013, 3:09 pm | BusinessDesk
June 25 (BusinessDesk) - Rick Bettle has stepped down as chairman and director of lines company Powerco, his second exit in as many weeks, ahead of his July trial relating to failed lender Dominion Finance. More >>
Tainui follows ‘path to success’ in Ruakura appeal to EPA
Tuesday, 25 June 2013, 2:47 pm | BusinessDesk
June 24 (BusinessDesk) – Tainui Group Holdings and Hamilton-based Chedworth Properties have become the fourth applicants to invoke “national significance” clauses of the Resource Management Act to speed up progress on a development after their Ruakura ... More >>
