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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 1176]
NZ government operating deficit smaller than forecast
Monday, 6 May 2013, 10:21 am | BusinessDesk
May 6 (BusinessDesk) - The New Zealand government kept a smaller operating deficit than forecast in the first nine months of the financial year, even as the cost of the Canterbury earthquakes grew an expected $192 million. More >>
World Week Ahead - Record start for week on Wall Street
Monday, 6 May 2013, 8:26 am | BusinessDesk
May 6 (BusinessDesk) – Wall Street kicks off the week at record highs, which might be all that's needed to underpin investors' faith in the road ahead. More >>
MARKET CLOSE: NZ shares drop as Fletcher vibe sours
Friday, 3 May 2013, 6:08 pm | BusinessDesk
May 3 (BusinessDesk) – New Zealand shares fell as Fletcher Building, the biggest company on the NZX 50 Index by market value, left some investors at a Macquarie briefing in Sydney with the impression earnings would be at the low end of guidance. More >>
MONEY TALKS: Hanover and all the nobody people
Friday, 3 May 2013, 5:51 pm | BusinessDesk
May 3 (BusinessDesk) - When the now-defunct Hanover Finance used to sponsor the TV One 6pm weather update with ex-newsreader Richard Long as a front, they characterised themselves as a New Zealand business with the size and strength to withstand any ... More >>
Retail investor registrations close; MRP float a week away
Friday, 3 May 2013, 5:35 pm | BusinessDesk
May 3 (BusinessDesk) - New Zealand's first public offer privatisation of the 21st century is a week away, with registrations from individual New Zealand investors closing at 5pm ahead of next week's book-build, following by listing on the NZX and ... More >>
Any bolt-on acquisitions at NZX to be less than $5 million
Friday, 3 May 2013, 5:28 pm | BusinessDesk
May 3 (BusinessDesk) – NZX wants to boost its exposure to agriculture and commodities and the company is on the hunt for bolt-on acquisitions less than $5 million, says chief executive Tim Bennett. More >>
NZ dollar climbs above 83 Aust cts for 1st time since Oct 09
Friday, 3 May 2013, 5:22 pm | BusinessDesk
NZ dollar climbs above 83 Aust cts for 1st time since Oct 2009 ahead of RBA meeting More >>
CORRECT: Westpac NZ boosts 1H earnings 7% on lending
Friday, 3 May 2013, 3:57 pm | BusinessDesk
CORRECT: Westpac NZ boosts 1H earnings 7% on lending growth in housing, agri, smaller charges on bad debt More >>
Sheppard faces trial by judge alone in Hanover defamation
Friday, 3 May 2013, 3:33 pm | BusinessDesk
May 3 (BusinessDesk) – Former New Zealand Shareholders Association chairman Bruce Sheppard will face trial by judge alone after former Hanover Finance shareholders Mark Hotchin and Eric Watson succeeded in arguing their defamation case was too complex ... More >>
Westpac NZ trims riskiest home lending amid volatility
Friday, 3 May 2013, 2:10 pm | BusinessDesk
May 3 (BusinessDesk) - Westpac New Zealand has trimmed the proportion of high loan-to-value mortgage lending amid increasingly volatile house prices. More >>
MIDDAY UPDATE: Westpac NZ lifts first-half profit
Friday, 3 May 2013, 11:59 am | BusinessDesk
May 3 (BusinessDesk) - Westpac Banking Corp's New Zealand unit increased first-half earnings 7 percent as it lifted its mortgage and agriculture lending and took smaller charges on its bad debts. More >>
CORRECT: Z Energy sales slide on margin push, earnings up
Friday, 3 May 2013, 11:33 am | BusinessDesk
(corrects pars 6 and 7, where guidance figures in original were wrongly interpreted as being forward-looking) More >>
Briscoe lifts 1Q sales 5.9%, offsetting thinner margins
Friday, 3 May 2013, 10:55 am | BusinessDesk
May 3 (BusinessDesk) - Briscoe Group, the homeware and sports goods chain controlled by managing director Rod Duke, lifted first-quarter sales 5.9 percent, helping offset weaker gross margins caused by increasing competition among retailers and a late ... More >>
Auckland house prices slip from record in April
Friday, 3 May 2013, 10:53 am | BusinessDesk
May 3 (BusinessDesk) – Average house prices in Auckland fell from a record high last month, snapping a three-month advance, as more properties came to market, according to Barfoot & Thomspon, the city’s biggest realtor. More >>
Westpac NZ boosts 1H earnings 7% on lending growth
Friday, 3 May 2013, 10:33 am | BusinessDesk
Westpac NZ boosts 1H earnings 7% on lending growth in housing, agri, smaller charges on bad debt More >>
NZX signals end to unconventional dividend policy in 2014
Friday, 3 May 2013, 10:12 am | BusinessDesk
May 3 (BusinessDesk) – NZX has signalled an end to its unconventional dividend policy, which has tied the stock market operator to stepped increases of not less than 1 cent a share since 2009. More >>
Z sales slide on margin push, operating earnings gain 13%
Friday, 3 May 2013, 9:49 am | BusinessDesk
May 3 (BusinessDesk) - Z Energy's second full year of operation since its sale to local investors by Shell has produced a 13.1 percent lift in operating earnings, although sales have fallen as the transport fuels distributor cut out loss-making ... More >>
NZ dollar climbs against euro after ECB cuts rates to 0.5%
Friday, 3 May 2013, 9:10 am | BusinessDesk
May 3 (BusinessDesk) – The New Zealand dollar rose against the euro after the European Central Bank cut its deposit rate as expected and left the door open to imposing negative deposit rates. More >>
Ex-Fonterra chair van der Heyden to lead Auckland Airport
Friday, 3 May 2013, 9:09 am | BusinessDesk
May 3 (BusinessDesk) - Former Fonterra Cooperative Group chairman Henry van der Heyden will head up the board of national gateway Auckland International Airport after the annual meeting in October. More >>
While you were sleeping: ECB rate cut, US jobs
Friday, 3 May 2013, 7:38 am | BusinessDesk
May 3 (BusinessDesk) – Stocks on both sides of the Atlantic gained, pushing the Standard & Poor's 500 Index to a record high, after the European Central Bank reduced borrowing costs, while US unemployment claims posted a surprise decline. More >>
