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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 1172]
NZ dollar pares decline as exporters step in
Wednesday, 15 May 2013, 5:23 pm | BusinessDesk
May 15 (BusinessDesk) - The New Zealand dollar pared its decline during the local session as exporters took advantage of the strengthening greenback to ramp up their hedging with a cheaper entry point. More >>
AWF profit more than doubles on Panacea sale
Wednesday, 15 May 2013, 3:17 pm | BusinessDesk
May 15 (BusinessDesk) - AWF Group, the contract labour firm, more than doubled annual profit after selling its Panacea Healthcare unit and will return most of the $2.24 million proceeds to shareholders via a special dividend. More >>
TrustPower pays $13.7 mln for Energy Direct NZ
Wednesday, 15 May 2013, 11:50 am | BusinessDesk
May 15 (BusinessDesk) - TrustPower, the electricity generator and retailer controlled by Infratil, will pay $13.7 million for the assets of Wanganui council owned Energy Direct New Zealand, allowing it to add customers near its electricity plants. More >>
NZ houses overvalued by 25%, IMF says
Wednesday, 15 May 2013, 10:55 am | BusinessDesk
May 15 (BusinessDesk) - New Zealand housing is already overvalued by about 25 percent and if it continues to rise may force the Reserve Bank to hike interest rates, according to the International Monetary Fund. More >>
NZ approves Qantas, Emirates tie-up, lifting Air NZ rivalry
Wednesday, 15 May 2013, 10:44 am | BusinessDesk
May 15 (BusinessDesk) - Qantas Airways, Australia's dominant airline, and Dubai-based Emirates can share services between New Zealand and Australia after the proposal was approved by New Zealand's government, extending their rivalry with Air New Zealand. More >>
Chorus to cut price on premium copper product
Wednesday, 15 May 2013, 9:37 am | BusinessDesk
Chorus to cut price on premium copper product to fill fibre gap during UFB roll-out More >>
NZ dollar falls as optimism of US recovery drives greenback
Wednesday, 15 May 2013, 8:43 am | BusinessDesk
May 15 (BusinessDesk) - The New Zealand dollar fell as optimism of a US recovery raises the prospect of an end to quantitative easing in the world's largest economy. More >>
While you were sleeping: Fresh records, Tepper is bullish
Wednesday, 15 May 2013, 7:46 am | BusinessDesk
May 15 (BusinessDesk) – Wall Street resumed its climb to new records, underpinned by the confidence that central banks around the world are supporting growth. More >>
MARKET CLOSE NZ shares fall as budgets loom; MRP retreats
Tuesday, 14 May 2013, 5:45 pm | BusinessDesk
May 14 (BusinessDesk) – New Zealand shares fell as recently listed MightyRiverPower continued to dominate trading, dropping to within 1 cent of last week’s offering price. PGG Wrightson shed more than 10 percent after cutting its guidance. More >>
NZ dollar pares loss as retail sales show recovery
Tuesday, 14 May 2013, 5:15 pm | BusinessDesk
May 14 (BusinessDesk) - The New Zealand dollar pared its loss in the local trading session after government figures showed growth in retail sales across most sectors and regions in the first three months of the year. More >>
NZ approves levy on kiwifruit exports in Psa shakeup
Tuesday, 14 May 2013, 3:25 pm | BusinessDesk
May 14 (BusinessDesk) - The government has signed off a levy on kiwifruit exports to help cover the cost of managing the outbreak of the Psa vine bacteria, and will hand over management of the disease to industry. More >>
Ex-Foodstuffs boss Carter to head up Air NZ board
Tuesday, 14 May 2013, 12:29 pm | BusinessDesk
May 14 (BusinessDesk) - Former Foodstuffs boss Tony Carter will take up the chair at Air New Zealand’s board when existing chairman John Palmer steps down after September’s annual meeting. More >>
NZ retail sales growth slows in sweltering first-quarter
Tuesday, 14 May 2013, 10:53 am | BusinessDesk
NZ retail sales growth slows in first-quarter as warm weather keeps lid on clothing purchases More >>
Infratil FY net profit drops to $3.4 mln on UK writedowns
Tuesday, 14 May 2013, 9:51 am | BusinessDesk
May 14 (BusinessDesk) – Infratil, which is mulling the float of its Z Energy chain of petrol stations, reported a drop in full-year profit after writing down the value of its UK airports and recognising accounting charges. More >>
Bright Dairy to cede control of Synlait Milk in NZX listing
Tuesday, 14 May 2013, 9:29 am | BusinessDesk
May 14 (BusinessDesk) - Chinese food giant Bright Dairy & Food will give up its controlling stake when local dairy processor Synlait Milk is listing on the stock exchange, retaining its stake without participating in the share sale. More >>
NZ dollar falls as US growth in focus
Tuesday, 14 May 2013, 9:22 am | BusinessDesk
May 14 (BusinessDesk) -The New Zealand dollar declined after better-than-expected US retail sales added to confidence the world's largest economy is expanding, reducing demand so-called growth assets outside of the US including the kiwi. More >>
Wrightson FY earnings to fall by up to 27% on drought
Tuesday, 14 May 2013, 9:02 am | BusinessDesk
PGG Wrightson annual earnings to fall by up to 27% on drought, lower livestock values More >>
While you were sleeping: US consumer surprises
Tuesday, 14 May 2013, 7:38 am | BusinessDesk
May 14 (BusinessDesk) – The Standard & Poor's 500 Index touched a fresh record high, as US retail sales unexpectedly rose in April, before giving up gains. More >>
MARKET CLOSE: NZ shares gain; SkyCity up on convention deal
Monday, 13 May 2013, 5:46 pm | BusinessDesk
May 13 (BusinessDesk) – New Zealand shares rose, extending the NZX 50 Index’s advance this year to more than 14 percent, as investors welcomed confirmation of SkyCity Entertainment Group’s convention centre deal and Chorus posted growth in ... More >>
NZ dollar edges up against broadly improving US dollar
Monday, 13 May 2013, 5:22 pm | BusinessDesk
May 13 (BusinessDesk) - The New Zealand dollar rose from a seven-and-a-half week low against the greenback as investors gauged the strength of the US economy and the prospects of an early end to the Federal Reserve’s quantitative easing programme. More >>
