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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.

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Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 1174]

NZ dollar gains after jobs data beats expectations

Thursday, 9 May 2013, 5:09 pm | BusinessDesk

May 9 (BusinessDesk) - The New Zealand dollar recovered its losses from yesterday when the Reserve Bank confirmed it intervened in foreign exchange markets after jobs data on both sides of the Tasman beat expectations, stoking confidence in the Australasian ... More >>

Huawei's Ren seeks to allay security concerns with MPs

Thursday, 9 May 2013, 3:30 pm | BusinessDesk

May 9 (BusinessDesk) - Huawei Technologies founder and chief executive Ren Zhengfei has assured Communications Minister Amy Adams that the world’s second-biggest maker of networking gear poses no threat to cyber-security. More >>

MightyRiverPower listing to lure unsatisfied offshore buyers

Thursday, 9 May 2013, 2:19 pm | BusinessDesk

May 9 (BusinessDesk) -MightyRiverPower stock may be in demand when it lists tomorrow from international buyers who are faced with low yields in their own markets and didn't receive as many shares as they wanted in the government allocation. More >>

BNZ’s Thorburn comfortable with level of low equity loans

Thursday, 9 May 2013, 1:26 pm | BusinessDesk

BNZ’s Thorburn comfortable with level of low equity home loans, wary of property developers More >>

NZ dollar bounces back; jobs data underlines economic growth

Thursday, 9 May 2013, 12:07 pm | BusinessDesk

May 9 (BusinessDesk) – The New Zealand dollar jumped about half a US cent, recovering ground lost after yesterday’s central bank intervention comments, on figures showing the labour market is growing and the jobless queue is shorter. More >>

BNZ 1H earnings flat as revenue gain offset by charges

Thursday, 9 May 2013, 12:00 pm | BusinessDesk

May 9 (BusinessDesk) - Bank of New Zealand, the local unit of National Australia Bank, lifted first-half cash earnings 0.5 percent as revenue gains from housing and business lending were offset by a bigger charge on bad debts. More >>

NZ jobless rate falls to 6.2% on record employment jump

Thursday, 9 May 2013, 10:52 am | BusinessDesk

NZ jobless rate falls to three-year low 6.2% as employment records record quarterly jump More >>

NZ dollar extends fall on RBNZ intervention, jobs data looms

Thursday, 9 May 2013, 8:56 am | BusinessDesk

May 9 (BusinessDesk) -The New Zealand dollar extended its slide after the central bank yesterday said it had sold the currency to limit rallies, and ahead of employment figures today. More >>

While you were sleeping: Wall St highs, China trade

Thursday, 9 May 2013, 7:51 am | BusinessDesk

May 9 (BusinessDesk) – Wall Street hit new records amid solid earnings from corporate America including Whole Foods, while China posted better-than-expected trade data and Germany showed an unexpected increase in industrial production. More >>

Collins tables stop-gap bill to protect Public Trust

Thursday, 9 May 2013, 6:29 am | BusinessDesk

May 8 (BusinessDesk) - Justice Minister Judith Collins has introduced stop-gap legislation to protect state-owned Public Trust from liability for failed finance company trustees if those firms choose to ditch their responsibilities. More >>

MightyRiver shares to list at $2.50, in lower half of target

Wednesday, 8 May 2013, 8:07 pm | BusinessDesk

May 8 (BusinessDesk) - MightyRiverPower shares will list on the NZX at 12.30pm this Friday at $2.50 a share, in the middle of the $2.25 to $2.80 range announced when the MRP prospectus was released last month. More >>

MARKET CLOSE: NZX 50 pushes up to new record

Wednesday, 8 May 2013, 5:45 pm | BusinessDesk

May 8 (BusinessDesk) – New Zealand stocks rose, pushing the NZX 50 Index to a new record, as investors welcomed Fisher & Paykel Healthcare’s continued release on new products and the Reserve Bank said it had intervened in the currency market ... More >>

NZ dollar slides after RBNZ confirms currency intervention

Wednesday, 8 May 2013, 5:19 pm | BusinessDesk

May 8 (BusinessDesk) - The New Zealand dollar dropped to a two-week low after the Reserve Bank confirmed its first intervention in currency markets for six years, and after it took a shot at the country’s bubbling property market. More >>

Solid Energy to purge a further 105 jobs

Wednesday, 8 May 2013, 3:20 pm | BusinessDesk

Solid Energy to purge a further 105 jobs as focus returns to core coal business More >>

McDonald's drops lamb from permanent NZ menu on slow sales

Wednesday, 8 May 2013, 2:29 pm | BusinessDesk

May 8 (BusinessDesk) - McDonald’s Restaurants New Zealand, the local arm of the world's largest fast food chain, last month pulled lamb products from its permanent menu after sluggish sales. More >>

From the Farm: Farming still vulnerable, RBNZ says

Wednesday, 8 May 2013, 2:25 pm | BusinessDesk

The Reserve Bank gave farmers a bit of a gift today. Governor Graeme Wheeler let slip near the end of an appearance before the finance and expenditure select committee that the bank has intervened in foreign exchange markets. More >>

UPDATED: RBNZ confirms first FX intervention since 2007

Wednesday, 8 May 2013, 2:24 pm | BusinessDesk

May 8 (BusinessDesk) - The Reserve Bank has confirmed it intervened in foreign exchange markets in an attempt to push the currency lower without giving any details on the size of its action, having already given a serve to the counter-balancing strength ... More >>