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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 1178]
Cook Strait cable constraints to remain for another winter
Wednesday, 1 May 2013, 11:49 am | BusinessDesk
May 1 (BusinessDesk) - Plans to have the Cook Strait cable fully refurbished with a new connection in time for this winter have been stymied by low inflows into the country's hydro-electricity catchments. More >>
From the Farm: Who speaks for the bees?
Wednesday, 1 May 2013, 10:52 am | BusinessDesk
Greenpeace said the European Commission’s two-year moratorium on the use of neonicotinoid chemicals in pesticides “makes it crystal clear that there is overwhelming scientific, political and public support for a ban.” More >>
Kathmandu shares gain as sales momentum remains through 3Q
Wednesday, 1 May 2013, 10:51 am | BusinessDesk
May 1 (BusinessDesk) - Shares in Kathmandu rose 2.2 percent after the outdoor equipment retailer said it kept its pace of sales growth through the third quarter, without firming up annual earnings guidance. More >>
Dorchester lifts profit guidance, flags dividend
Wednesday, 1 May 2013, 10:02 am | BusinessDesk
May 1 (BusinessDesk) - Dorchester Pacific, which avoided failure in 2010 by convincing investors to accept a debt-for-equity swap, has upped its profit guidance, flagged an intention to start paying dividends, and will re-jig its capital structure to ... More >>
Regulator wants feedback from Chch over Orion's $86M rebuild
Wednesday, 1 May 2013, 9:08 am | BusinessDesk
May 1 (BusinessDesk) - The Commerce Commission is giving the Christchurch public a say on local lines company Orion New Zealand's plan to claw back the extra $86 million it needs to rebuild its network, which was damaged by the Canterbury earthquakes. More >>
NZ dollar holds near 2-week high before China PMI, FOMC, ECB
Wednesday, 1 May 2013, 8:44 am | BusinessDesk
May 1 (BusinessDesk) – The New Zealand dollar held near a two-week high before the release of China’s manufacturing PMI which will provide fresh clues to the pace of economic growth for the nation’s biggest trading partner. More >>
While you were sleeping: Fed decision awaited
Wednesday, 1 May 2013, 7:44 am | BusinessDesk
May 1 (BusinessDesk) – As US Federal Reserve policy makers began their two-day meeting a report showed a surprise contraction in the country's business activity in April, further weakening the greenback amid expectations for ongoing monetary ... More >>
Kiwi habits, deregulation blamed for 'broken' safety culture
Tuesday, 30 April 2013, 6:20 pm | BusinessDesk
April 30 (BusinessDesk) - New Zealanders' cultural tendencies towards "stoicism, deference to authority, laid-back complacency and suspicion of red tape", along with too much deregulation in the 1980's and 1990's, are root causes of New Zealand's ... More >>
MARKET CLOSE: NZ shares break more records
Tuesday, 30 April 2013, 6:00 pm | BusinessDesk
April 30 (BusinessDesk) – New Zealand shares rose, pushing the benchmark index to another record, as Xero, Ryman Healthcare and A2 Corp led companies making new highs. More >>
Hanover was 'responsibly governed and managed', says Watson
Tuesday, 30 April 2013, 5:57 pm | BusinessDesk
April 30 (BusinessDesk) - The failed Hanover Finance group of companies was "responsibly governed and managed," according to shareholder Eric Watson, who was today cleared of any criminal wrongdoing when the Serious Fraud Office decided not to prosecute ... More >>
NZ dollar holds gains after business confidence
Tuesday, 30 April 2013, 5:24 pm | BusinessDesk
April 30 (BusinessDesk) - The New Zealand dollar held gains after a business confidence survey and building data didn't derail the prospects for the local economic recovery, and ahead of central bank meetings that will likely dictate global sentiment. More >>
Summerset holder Quadrant promises exit will be ‘orderly'
Tuesday, 30 April 2013, 4:28 pm | BusinessDesk
April 30 (BusinessDesk) - Summerset Group shareholder Quadrant Private Equity has promised an orderly exit from the retirement village operator if and when it decides to sell its 37.2 percent stake. More >>
Summerset on track to meet 2013 build target
Tuesday, 30 April 2013, 4:24 pm | BusinessDesk
April 30 (BusinessDesk) - Summerset Group, the retirement village operator and developer, is on track to meet its build target this year, and sees growth opportunities in aged care services to complement its apartments and villas. More >>
Labour-Greens policy far down list of MRP's biggest worries
Tuesday, 30 April 2013, 3:22 pm | BusinessDesk
April 30 (BusinessDesk) - Wellington institutional broking firm Woodward Partners ranks the risks to MightyRiverPower of the Labour and Green parties' new electricity policy as moderate, and far lower than many other risks the company faces. More >>
Devon Funds managing $923 mln on KiwiSaver, roaring stocks
Tuesday, 30 April 2013, 3:07 pm | BusinessDesk
April 30 (BusinessDesk) – Devon Funds Management lifted funds under management by 14 percent last year on a combination of KiwiSaver inflows and strong gains in New Zealand equities. More >>
NZ business confidence falls for second month
Tuesday, 30 April 2013, 2:47 pm | BusinessDesk
April 30 (BusinessDesk) - New Zealand business confidence fell for a second month, with the agricultural sector remaining pessimistic about the general economic outlook and profits, while construction remained the most bullish. A net 32 percent of firms ... More >>
MIDDAY UPDATE: Hanover's Hotchin, Watson not fraudsters
Tuesday, 30 April 2013, 12:18 pm | BusinessDesk
April 30 (BusinessDesk) - The Serious Fraud Office has cleared Hanover Finance's directors and owners, including Mark Hotchin and Eric Watson, of any criminal wrongdoing, and drawn the curtain on a 32-month investigation into the failed lender. More >>
ANZ New Zealand lifts 1H profit 7% on strong lending growth
Tuesday, 30 April 2013, 11:18 am | BusinessDesk
April 30 (BusinessDesk) - Australian & New Zealand Banking Group's local unit lifted first-half profit 7 percent as it grew its loan book and booked smaller charges on bad loans. More >>
NZ building consents drop 9.1% in March on fewer apartments
Tuesday, 30 April 2013, 11:17 am | BusinessDesk
April 30 (BusinessDesk) – New Zealand new dwelling consents dropped in March, reflecting the lowest monthly number of apartment approvals in more than three years. More >>
Closed-shop consenting for oil exploration sub-standard: EDS
Tuesday, 30 April 2013, 10:22 am | BusinessDesk
April 30 (BusinessDesk) - New Zealand will not be able to claim "world class" oil and gas sector regulation if it pushes ahead with a plan that would stop public hearings on resource consents for oil exploration in the country's Exclusive Economic ... More >>
