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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 1157]
MIDDAY UPDATE: Sky TV shares plunge after losing EPL rights
Wednesday, 19 June 2013, 12:20 pm | BusinessDesk
June 19 (BusinessDesk) – Shares in Sky Network Television sank 6 percent after the pay-TV operator was outbid by an unnamed rival for the local broadcasting rights to English Premier League football. More >>
AMP Capital NZ lifts FY fee income by 34% on Axa inflows
Wednesday, 19 June 2013, 11:37 am | BusinessDesk
June 18 (BusinessDesk) – AMP Capital Investors (New Zealand), the local unit of the Australian wealth manager, posted a 34 percent jump in fee income last year as it benefited from funds taken over from Axa Asia Pacific and improving market values. More >>
NZ current account gap narrows as expected on dairy exports
Wednesday, 19 June 2013, 10:51 am | BusinessDesk
June 19 (BusinessDesk) - New Zealand's current account deficit narrowed as expected in the first quarter as volumes and prices of dairy exports rose and visitors spent more, lifting the balance on goods and services. More >>
NZ dollar jumps to 3-wk high vs. Aussie after RBA minutes
Wednesday, 19 June 2013, 9:39 am | BusinessDesk
NZ dollar jumps to three-week high against Aussie after RBA minutes signal lower rates, currency More >>
Rangatira buys 35% stake in Tuatara Brewing
Wednesday, 19 June 2013, 8:19 am | BusinessDesk
June 19 (BusinessDesk) – Rangatira, the Wellington-based investment company, has acquired a 35 percent stake in Tuatara Brewing, giving the brewer funds to lift capacity at its new plant on the Kapiti Coast. More >>
While you were sleeping: Optimism lifts equities
Wednesday, 19 June 2013, 7:38 am | BusinessDesk
June 19 (BusinessDesk) – Wall Street advanced amid optimism that US Federal Reserve Chairman Ben Bernanke will reassure investors that the central bank will not pull back its monetary stimulus before it is satisfied with the economic outlook. More >>
Dairy product prices halt slide in GDT auction, rise 1.1%
Wednesday, 19 June 2013, 7:13 am | BusinessDesk
June 19 (BusinessDesk) - Prices of dairy products rose in Fonterra Cooperative Group’s latest GlobalDairyTrade auction, snapping three straight declines as prices rose for skim and whole milk powder. More >>
Dairy product prices halt slide in GDT auction, rise 1.1%
Wednesday, 19 June 2013, 7:09 am | BusinessDesk
June 19 (BusinessDesk) - Prices of dairy products rose in Fonterra Cooperative Group’s latest GlobalDairyTrade auction, snapping three straight declines as prices rose for skim and whole milk powder. More >>
MARKET CLOSE: NZ shares rise; Xero at new record, Ryman up
Tuesday, 18 June 2013, 6:22 pm | BusinessDesk
June 18 (BusinessDesk) – New Zealand shares rose, with Xero resuming its ascent to a new record, leading gains among this year’s soarers including retirement village operators Ryman Healthcare, Metlifecare and Summerset Group. More >>
NZ dollar extends decline as Fed’s view on tapering looms
Tuesday, 18 June 2013, 5:40 pm | BusinessDesk
June 18 (BusinessDesk) - The New Zealand dollar fell in local trading as investors await the Federal Reserve’s official view on whether it will start winding back its US$85 billion a month asset purchases this year. More >>
UPDATED: ANZ to ‘vigorously defend’ fees lawsuit
Tuesday, 18 June 2013, 4:41 pm | BusinessDesk
June 18 (BusinessDesk) - ANZ Bank New Zealand, the country’s biggest lender, will defend a class suit over an estimated $250 million fees charged customers for going into overdraft, late credit card payments and bouncing cheques. More >>
Cavalier shares fall after carpet-maker gives profit warning
Tuesday, 18 June 2013, 4:38 pm | BusinessDesk
June 18 (BusinessDesk) - Shares in Cavalier Corp fell 1.8 percent after the carpet-maker warned annual earnings will be at the bottom end of guidance, and signalled a $1 million cash hit as it consolidates its tufting operation. More >>
2degrees gets $165M BNZ facility for Huawei-built 4G network
Tuesday, 18 June 2013, 2:28 pm | BusinessDesk
June 18 (BusinessDesk) - Two Degrees Mobile, which has won about a fifth of the country’s mobile phone market, secured a $165 million banking facility with Bank of New Zealand to pay for the construction of its new 4G network by Huawei Technologies. More >>
Treble Cone ski field narrows loss in 2012, trims debt
Tuesday, 18 June 2013, 2:16 pm | BusinessDesk
June 18 (BusinessDesk) – Treble Cone Investments, which manages the South Island’s largest ski area near Wanaka, narrowed its loss in its latest financial year. More >>
ANZ named as first bank in $250M default fees class suit
Tuesday, 18 June 2013, 1:34 pm | BusinessDesk
June 18 (BusinessDesk) - ANZ Bank New Zealand, the country’s biggest lender, has been named as the first bank facing a class suit over an estimated $250 million fees charged customers for going into overdraft, late credit card payments and bouncing ... More >>
Mylan’s NZ unit boosts profit by 62% on demand for generics
Tuesday, 18 June 2013, 1:00 pm | BusinessDesk
Mylan’s New Zealand unit boosts profit by two thirds as sales growth outpaces costs More >>
Elders rejects ‘inadequate’ offer for rural services unit
Tuesday, 18 June 2013, 12:31 pm | BusinessDesk
June 18 (BusinessDesk) – Elders, the ASX-listed agribusiness company, has rejected an offer from Ruralco Holdings for its rural services business, which includes a half stake in New Zealand’s Elders Rural Holdings. More >>
MIDDAY UPDATE: Bank fees class suit to name first bank
Tuesday, 18 June 2013, 12:20 pm | BusinessDesk
June 18 (BusinessDesk) – The first New Zealand bank facing a class suit over the fees charged when customers overdraw their accounts will be named this afternoon. More >>
Goodyear’s NZ accounts tagged as tyre company loses $20.4M
Tuesday, 18 June 2013, 12:06 pm | BusinessDesk
June 18 (BusinessDesk) - Goodyear & Dunlop Tyres (NZ), the local unit of the biggest US tyre maker, posted a third annual loss last year and its accounts were tagged by the auditors as its future viability becomes increasingly reliant on its ... More >>
Liz MacPherson named NZ's chief statistician
Tuesday, 18 June 2013, 11:31 am | BusinessDesk
June 18 (BusinessDesk) - Liz MacPherson, a deputy chief at the Ministry of Business, Innovation & Employment, has been named as the next government statistician. More >>
