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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 1179]
Hotchin, Watson didn’t commit fraud at Hanover, SFO finds
Tuesday, 30 April 2013, 10:22 am | BusinessDesk
April 30 (BusinessDesk) - The Serious Fraud Office won't lay charges against any of Hanover Finance's directors or owners including Mark Hotchin and Eric Watson, saying it's exhausted all avenues of investigation and found nothing to meet its ... More >>
OceanaGold turns to first-quarter profit as cash costs fall
Tuesday, 30 April 2013, 10:09 am | BusinessDesk
April 30 (BusinessDesk) – OceanaGold, the operator of the Macraes gold field in central Otago, posted a first-quarter profit after producing more gold and benefitting from cash costs less than half the level of a year earlier. More >>
Auckland Airport 8% expected returns 'reasonable': regulator
Tuesday, 30 April 2013, 9:20 am | BusinessDesk
April 30 (BusinessDesk) - Auckland International Airport, the country's main gateway, isn't profiteering and is a expecting reasonable return over the coming four years, according to the antitrust regulator. More >>
NZ dollar gains as rising stocks lifts risk appetite
Tuesday, 30 April 2013, 8:59 am | BusinessDesk
April 30 (BusinessDesk) – The New Zealand dollar rose to a two-week high as gains in equity markets in Europe and the US, and signs of growth in the US housing sector helped lift risk appetite and demand for growth-linked currencies and commodities. More >>
While you were sleeping: Bets on central bank support
Tuesday, 30 April 2013, 7:28 am | BusinessDesk
April 30 (BusinessDesk) – Wall Street and European stocks gained as the latest economic data underpinned expectations that monetary policy makers on both sides of the Atlantic will signal a fresh commitment to their plans to revive growth. More >>
Taranaki Maori knock back onshore oil exploration acreage
Monday, 29 April 2013, 6:20 pm | BusinessDesk
April 29 (BusinessDesk) - The government is courting controversy with Northland iwi over deep-sea drilling in new acreage being offered for oil and gas explorers in the 2013 block offer announced at the AdvantageNZ petroleum conference in Auckland. More >>
MARKET CLOSE: NZ shares rise as Fonterra, Ryman hit records
Monday, 29 April 2013, 5:54 pm | BusinessDesk
April 29 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index to a new high, as the continued shift away from fixed income investments underpinned demand and drove Fonterra Shareholders’ Fund, Ryman Healthcare, Diligent Board ... More >>
Kirkcaldie turns to first-half loss on falling retail sales,
Monday, 29 April 2013, 5:25 pm | BusinessDesk
April 29 (BusinessDesk) – Kirkcaldie & Stains, Wellington’s upscale department store, turned to a first-half loss as sales fell and it incurred additional costs to refurbish its Harbour City Centre building as insurance and property taxes rose. More >>
NZ dollar gains at start of risk-heavy week
Monday, 29 April 2013, 5:24 pm | BusinessDesk
April 29 (BusinessDesk) - The New Zealand dollar gained at the start of what's shaping up to be a risk-heavy week with central bank meetings and US employment figures threatening to disappoint investors after some weaker than expected early indicators. More >>
CORRECT: Shipley discloses Mainzeal role to Chinese bank
Monday, 29 April 2013, 4:24 pm | BusinessDesk
April 29 (BusinessDesk) – Former Prime Minister Jenny Shipley has disclosed her role at the failed Mainzeal Group to China Construction Bank, the world's second-biggest lender by market value, where she is a director. More >>
Debt investors unfazed by risks from Labour-Greens plan
Monday, 29 April 2013, 3:34 pm | BusinessDesk
Debt investors unfazed by risks from Labour-Greens electricity proposal April 29 (BusinessDesk) - Investors in New Zealand power company bonds say they're unfazed by a proposal from the Labour and Greens parties to restructure the electricity market, ... More >>
Shipley discloses Mainzeal role to China Construction Bank
Monday, 29 April 2013, 3:02 pm | BusinessDesk
April 29 (BusinessDesk) – Former Prime Minister Jenny Shipley has disclosed her role at the failed Mainzeal Group to China Construction Bank, the world's second-biggest lender by market value, where she is a director. More >>
SMELLIE ON SME's: Tips on getting blood from a stone
Monday, 29 April 2013, 1:54 pm | BusinessDesk
April 29 (BusinessDesk) - In business, there are many daily pitfalls and challenges. One of the most irritating is the customer who routinely fails to pay their bills on time. More >>
NZ Dollar Outlook: Kiwi may fall this week on downside risks
Monday, 29 April 2013, 1:12 pm | BusinessDesk
April 29 (BusinessDesk) – The New Zealand dollar may fall this week on the risk that manufacturing figures from China and US payrolls will add to signs of global weakness and traders await decisions from the Federal Reserve and European Central ... More >>
Founder Mark Clare parts company with Woodward Partners
Monday, 29 April 2013, 12:51 pm | BusinessDesk
April 29 (BusinessDesk) - A founding partner of boutique Wellington investment bank Woodward Partners, Mark Clare, is leaving the firm to set up his own shop, insisting the departure is "amicable" after resigning from the board of the firm's ... More >>
MIDDAY UPDATE: Telecom shells out $96.5M for Revera
Monday, 29 April 2013, 12:15 pm | BusinessDesk
April 29 (BusinessDesk) - Telecom Corp plans to beef up its data services and cloud capabilities with the $96.5 million acquisition of privately-held Revera. More >>
Livestock Improvement nabs MPI director-general McNee as CEO
Monday, 29 April 2013, 10:49 am | BusinessDesk
April 29 (BusinessDesk) - Livestock Improvement Corp, the dairy genetics and bull semen company, has appointed Ministry of Primary Industries director-general Wayne McNee as its next chief executive. More >>
Pharmacybrands CEO Wham departs after decade in charge
Monday, 29 April 2013, 10:34 am | BusinessDesk
April 29 (BusinessDesk) - Pharmacybrands chief executive Alan Wham has resigned after a decade in charge of the retail pharmacy and medical centre chain, effective from the end of June. The stock fell 2.3 percent. More >>
Telecom buys local data centre firm Revera for $96.5 mln
Monday, 29 April 2013, 10:20 am | BusinessDesk
April 29 (BusinessDesk) - Telecom Corp, the country's biggest telecommunications company, has bought local data centre firm Revera for $96.5 million as it looks to get greater coverage in the cloud and build IT services. More >>
Vector cleared to buy Contact Energy’s gas metering business
Monday, 29 April 2013, 9:25 am | BusinessDesk
April 29 (BusinessDesk) – Vector has won regulatory clearance to acquire Contact Energy’s gas metering business for $63 million in a deal that merges the two largest suppliers of metering services on the North Island’s reticulated natural gas distribution ... More >>
