Scoop has an Ethical Paywall
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 1156]
MARKET CLOSE: NZ shares join Asia-wide rout; CNU, DIL drop
Thursday, 20 June 2013, 5:46 pm | BusinessDesk
June 20 (BusinessDesk) – New Zealand shares fell, joining an Asia-wide rout after the Federal Reserve signalled an end to bond buying, weak Chinese manufacturing figures and economic growth at home that missed expectations. Chorus, Diligent Board Member ... More >>
NZ dollar slides after Fed, weak GDP, China PMI
Thursday, 20 June 2013, 5:13 pm | BusinessDesk
June 20 (BusinessDesk) - The New Zealand dollar fell, hit by a triple-whammy of local first-quarter growth coming in at half what economists were expecting, a slowing manufacturing sector in China and the Federal Reserve signalling plans to wind back ... More >>
NZ seeks all-of-government banking proposals
Thursday, 20 June 2013, 3:10 pm | BusinessDesk
June 20 (BusinessDesk) - The New Zealand government is seeking proposals to handle all the state sector’s banking needs, replacing a core transactional services contract held by Westpac Banking Corp since 2004. More >>
NZ regulators starts money laundering monitoring this month
Thursday, 20 June 2013, 1:28 pm | BusinessDesk
June 20 (BusinessDesk) – New Zealand regulators will this month start monitoring financial institutions to stamp out money laundering that could be worth up to $1.5 billion. More >>
Solid Energy leaves Mataura briquette plant with GTL
Thursday, 20 June 2013, 1:14 pm | BusinessDesk
June 20 (BusinessDesk) - Solid Energy is handing over operations at its $29 million lignite briquette production plant in Mataura to GTL Energy as the financially stricken state-owned coal miner looks to exit the investment. More >>
MIDDAY UPDATE: Drought trims growth in first quarter
Thursday, 20 June 2013, 12:26 pm | BusinessDesk
June 20 (BusinessDesk) – New Zealand’s economy grew at half the pace economists were picking in the first three months of the year after arid conditions which plunged much of the country into drought and sapped milk production. More >>
NZ dollar falls as drought throws handbrake on growth
Thursday, 20 June 2013, 12:09 pm | BusinessDesk
June 20 (BusinessDesk) - The New Zealand dollar dropped after government figures showed the economy grew at the half the expected pace in the first quarter, as the drought at the start of the year saw farmers cull their herds, sapping milk production. More >>
From the Farm: Animal parts
Thursday, 20 June 2013, 12:05 pm | BusinessDesk
June 20 (BusinessDesk) - Margins on dairy products can’t be too bad, when you consider that palm kernel expeller is shipped some 7,500 kilometres from Indonesia to New Zealand, fed to dairy cows whose milk is dried, bagged and sent some 11,000 kilometres ... More >>
NZ economy grows at half expected pace in 1Q on drought
Thursday, 20 June 2013, 10:55 am | BusinessDesk
June 20 (BusinessDesk) - The New Zealand economy grew at half the pace analysts were expecting in the first three months of the year as drought across the North Island sapped milk production and dragged the agriculture sector down. The kiwi dollar fell ... More >>
Diligent makes mistake recognising revenue early
Thursday, 20 June 2013, 10:47 am | BusinessDesk
June 20 (BusinessDesk) – Diligent Board Member Services, which has been forced to deal with a slew of administrative errors, says it recognised sales in its accounts earlier than it should have. More >>
Bettle quits Diligent board as Dominion Finance trial looms
Thursday, 20 June 2013, 9:41 am | BusinessDesk
June 20 (BusinessDesk) - Rick Bettle has resigned from the board of Diligent Board Member Services, as the trial for his role at failed lender Dominion Finance looms. More >>
NZ dollar drops as US signals end to QE, GDP looms
Thursday, 20 June 2013, 8:52 am | BusinessDesk
June 20 (BusinessDesk) – The New Zealand dollar fell to a week low as the Federal Reserve signalled an end to its quantitative easing programme which has debased the greenback. More >>
While you were sleeping: Stocks, bonds drop on Fed
Thursday, 20 June 2013, 7:38 am | BusinessDesk
June 20 (BusinessDesk) – Wall Street declined, as did US Treasuries, after Federal Reserve Chairman Ben Bernanke said the central bank may begin tapering its US$85 billion-a-month bond-buying program later this year if the economy strengthens in ... More >>
MARKET CLOSE: NZX 50 falls, led by Sky TV on football rival
Wednesday, 19 June 2013, 5:57 pm | BusinessDesk
June 19 (BusinessDesk) – New Zealand shares fell after an online rival to Sky Network Television emerged with the rights to English football and network operator Chorus led a decline in companies sold down by offshore investors. More >>
Wynyard shares to list near bottom of range, at $1.15
Wednesday, 19 June 2013, 5:39 pm | BusinessDesk
June 19 (BusinessDesk) – Investors have snapped up all of the $65 million worth of shares being sought by intelligence software-maker Wynyard Group, but at the low end of the $1.10 to $1.65 range nominated by joint lead managers UBS and Forsyth ... More >>
Online start-up seeks rapid uptake of English football
Wednesday, 19 June 2013, 5:23 pm | BusinessDesk
Online start-up seeks rapid uptake of English football in pay-per-view challenge to Sky TV More >>
NZ dollar almost unchanged as traders await Fed
Wednesday, 19 June 2013, 5:21 pm | BusinessDesk
June 19 (BusinessDesk) - The New Zealand dollar was almost unchanged in local trading as traders await the outcome from the Federal Reserve’s monetary policy review and whether the US central bank plans to start unwinding its asset purchase programme. More >>
RBNZ eyes holes in payment system supervision
Wednesday, 19 June 2013, 4:59 pm | BusinessDesk
June 19 (BusinessDesk) - The Reserve Bank is looking at ways to bring regulatory oversight to the country’s payment systems, in what’s an otherwise sound financial system, the bank’s head of prudential supervision Toby Fiennes says. More >>
MPs privilege vital against Hanover-style suits, Parker says
Wednesday, 19 June 2013, 2:44 pm | BusinessDesk
June 19 (BusinessDesk) - Labour Party finance spokesman David Parker is throwing his support behind legislation enshrining Parliamentary privilege saying he doesn’t want government officials threatened with defamation suits from deep-pocketed people ... More >>
Energy Mad sells stake in Chinese JV factory for $1.7M
Wednesday, 19 June 2013, 1:47 pm | BusinessDesk
June 19 (BusinessDesk) – Energy Mad, whose shares have dropped 21 percent this year after it failed to meet earnings forecasts, sold its 20 percent stake in its Chinese joint venture factory for $1.7 million. More >>
