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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 1169]
Bathurst gets nod for DoC access to Denniston mine
Thursday, 23 May 2013, 1:30 pm | BusinessDesk
May 23 (BusinessDesk) - Conservation Minister Nick Smith has approved access over conservation estate land for Bathurst Resources to develop an open cast coal mine on the Denniston Plateau, above Westport, to the dismay of environmental opponents. More >>
No savings this year for Rakon manufacturing shift to China
Thursday, 23 May 2013, 1:11 pm | BusinessDesk
No savings this year for Rakon’s manufacturing shift to China, grand plan coming in July More >>
GPG pension headache puts brake on wind-down plan
Thursday, 23 May 2013, 11:04 am | BusinessDesk
May 23 (BusinessDesk) - Guinness Peat Group will have to keep on more staff than previously planned as it works with the UK regulator over its liability for the Coats pension schemes. More >>
DNZ Property sells $60M of shares at 1.8% discount
Thursday, 23 May 2013, 10:07 am | BusinessDesk
May 23 (BusinessDesk) - DNZ Property Fund, which reported a 14 percent decline in annual distributable earnings yesterday, completed its $60 million placement to institutional investors at a 1.8 percent discount. More >>
Rakon plunges deeper into the red on writedowns; shares drop
Thursday, 23 May 2013, 10:04 am | BusinessDesk
May 23 (BusinessDesk) - Rakon, which makes crystal oscillators used in smart phones and navigation systems, plunged deeper into the red after writing down the value of its Chinese and New Zealand units, and posting underlying earnings at the bottom ... More >>
Comvita FY profit falls 10%, beating guidance
Thursday, 23 May 2013, 9:58 am | BusinessDesk
May 23 (BusinessDesk) - Comvita, which produces health products from manuka honey and olive leaves, posted a 10 percent decline in full-year profit, beating its own guidance as it coped with a shortage of honey and higher costs. More >>
NZ dollar declines after Bernanke says Fed may taper QE
Thursday, 23 May 2013, 8:41 am | BusinessDesk
NZ dollar declines after Bernanke says Fed may taper QE on signs of sustained improvement More >>
While you were sleeping: Fed opens taper door
Thursday, 23 May 2013, 7:42 am | BusinessDesk
May 23 (BusinessDesk) – US stocks and bonds fell, both giving up earlier gains, after Federal Reserve chief Ben Bernanke suggested the central bank might scale back stimulus measures as early as at its next meeting. More >>
MARKET CLOSE: NZ shares rise; Ryman resumes climb
Wednesday, 22 May 2013, 5:46 pm | BusinessDesk
May 22 (BusinessDesk) – New Zealand shares rose as Ryman Healthcare climbed to a new record, bouncing back from a decline that may have been triggered by a rival’s stock selldown, while Fletcher Building halted its slide analyst presentation sin ... More >>
NZ dollar slips as investors await Bernanke’s take on QE
Wednesday, 22 May 2013, 5:19 pm | BusinessDesk
May 22 (BusinessDesk) - The New Zealand dollar edged lower in the local session as investors hold off from making any decisions ahead of Federal Reserve chairman Ben Bernanke’s Congressional testimony, where he’s expected to give his view on whether ... More >>
Ecoya becomes Trilogy as skincare trumps scented candles
Wednesday, 22 May 2013, 3:42 pm | BusinessDesk
May 22 (BusinessDesk) - Ecoya, which counts the Bakery Business LP as its biggest shareholder, has changed its name to Trilogy International as the skincare range it bought in 2010 dominates sales over its scented candle business and is seen as ... More >>
Property For Industry, Direct Property merger deemed fair
Wednesday, 22 May 2013, 2:10 pm | BusinessDesk
May 22 (BusinessDesk) - Property For Industry's proposed merger with Direct Property Fund to create an $800 million industrial property empire is fair, according to independent appraisals released today. More >>
DNZ FY earnings fall 14%, signals $80M capital raising
Wednesday, 22 May 2013, 10:49 am | BusinessDesk
May 22 (BusinessDesk) - DNZ Property Fund, a diversified property investor, reported a 14 percent fall in annual earnings and plans to raise $80 million in a placement to institutional investors and a share purchase plan to help pay for two new acquisitions. More >>
Vodafone NZ loses mobile customers for 9th straight quarter
Wednesday, 22 May 2013, 10:25 am | BusinessDesk
May 22 (BusinessDesk) - Vodafone New Zealand, which bought phone company TelstraClear for $840 million last year, lost a net 7,000 mobile customers in the first three months of the year, its ninth straight quarterly decline. More >>
Asset Finance rapped by RBNZ over related party lending
Wednesday, 22 May 2013, 9:12 am | BusinessDesk
May 22 (BusinessDesk) - Asset Finance, the minnow lender which was temporarily stopped from seeking new investment last year over the representation of a related party loan, has been rapped over the knuckles by the Reserve Bank for breaching the cap ... More >>
NZ dollar weakens ahead of Fed comments on stimulus
Wednesday, 22 May 2013, 8:48 am | BusinessDesk
May 22 (BusinessDesk) - The New Zealand dollar weakened against its US counterpart amid speculation growth in the world's largest economy may spur the Federal Reserve to reduce stimulus, known as quantitative easing. More >>
While you were sleeping: Bullard lifts stocks
Wednesday, 22 May 2013, 7:46 am | BusinessDesk
May 22 (BusinessDesk) – Wall Street gained, touching records, after Federal Reserve Bank of St. Louis President James Bullard said the central bank should maintain its current bond-buying program to help bolster growth. More >>
Goodyear to sell NZ retail businesses to locals
Tuesday, 21 May 2013, 5:50 pm | BusinessDesk
May 21 (BusinessDesk) - Goodyear & Dunlop Tyres, the local unit of the biggest US tyre maker, plans to sell its New Zealand retail business for an undisclosed sum to locally-owned Beau Ideal. More >>
MARKET CLOSE: NZ shares fall; Mainfreight, Diligent decline
Tuesday, 21 May 2013, 5:48 pm | BusinessDesk
May 21 (BusinessDesk) – New Zealand shares fell on concern prices have run up ahead of earnings and profit downgrades in Australia weighed on companies with businesses across the Tasman, including Mainfreight, Australia & New Zealand Banking Group, ... More >>
Solid Energy based failed strategy on non-existent analysis
Tuesday, 21 May 2013, 5:36 pm | BusinessDesk
May 21 (BusinessDesk) - The ambitious growth strategy that has imperilled Solid Energy was developed on a far more optimistic outlook for oil and coal prices than its industry peers, but it had no analysis to back those views, Treasury papers released today ... More >>
