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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 1181]
Fonterra shakes up management of key Asian unit
Wednesday, 24 April 2013, 4:40 pm | BusinessDesk
April 24 (BusinessDesk) - Fonterra Cooperative Group's managing director of the Asia Pacific/Middle East/Africa (APMEA) unit Mark Wilson will leave at the end of the month to attend to "family health matters" after overseeing a management ... More >>
Labour won't intervene in any other market, says Roberston
Wednesday, 24 April 2013, 4:26 pm | BusinessDesk
April 24 (BusinessDesk) - Labour Party deputy leader Grant Robertson has moved to try and reassure financial markets that its sudden lurch to favour central planning in the electricity industry is one-off. More >>
Conservation boss Morrison moves on as DOC faces big changes
Wednesday, 24 April 2013, 2:53 pm | BusinessDesk
April 24 (BusinessDesk) – Department of Conservation boss Al Morrison is leaving for a new role at the State Services Commission as the department prepares for “significant change.” More >>
Super Fund sells forestry blocks to Chinese, local investors
Wednesday, 24 April 2013, 2:35 pm | BusinessDesk
April 24 (BusinessDesk) - The New Zealand Superannuation Fund, which today said the value of its portfolio topped $22 billion, has sold the bulk of 11 forestry blocks in the North Island to China National Forest Products Trading Corp for an undisclosed ... More >>
Warehouse reaps pretax gain of $14M-$15M on Silverdale sale
Wednesday, 24 April 2013, 12:50 pm | BusinessDesk
April 24 (BusinessDesk) – Warehouse Group, New Zealand’s biggest listed retailer, will reap a pretax gain of between $14 million and $15 million from the sale of Silverdale Centre in Auckland after developing the shopping complex on land it had owned for ... More >>
APN management shake-up squeezes out digital boss Crockett
Wednesday, 24 April 2013, 12:50 pm | BusinessDesk
April 24 (BusinessDesk) - APN News & Media, the publisher of the New Zealand Herald newspaper has shaken up its management structure, leaving out head of digital Matt Crockett, who was reportedly in the running for the top job. More >>
MIDDAY UPDATE: Wheeler keeps OCR on hold, tones down talk
Wednesday, 24 April 2013, 12:10 pm | BusinessDesk
April 24 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.5 percent today, while refraining from taking too tough a stance on the "overvalued" kiwi dollar. More >>
Pegasus Town development, sections sell for $68.8M: receiver
Wednesday, 24 April 2013, 11:59 am | BusinessDesk
April 24 (BusinessDesk) - The North Canterbury Pegasus Town property development and its sections sold for $68.8 million, leaving unsecured creditors, who were largely related parties, out in the cold, according to the latest receiver's report. More >>
NZ dollar, swap rates rise after Wheeler holds back rhetoric
Wednesday, 24 April 2013, 11:02 am | BusinessDesk
April 24 (BusinessDesk) - The New Zealand dollar rose as much as 0.7 percent against the greenback after Reserve Bank governor Graeme Wheeler backed off from talking down the currency at today's monetary policy review where he kept the benchmark rate ... More >>
Air NZ shares jump on forecast for earnings to double
Wednesday, 24 April 2013, 10:35 am | BusinessDesk
April 24 (BusinessDesk) - Air New Zealand's shares jumped 5.6 percent after the national carrier flagged its annual earnings will more than double this year. More >>
RBNZ keeps OCR at 2.5%, sees tame inflation, too-high dollar
Wednesday, 24 April 2013, 9:07 am | BusinessDesk
RBNZ's Wheeler keeps OCR at 2.5 percent, brushes off weak inflation and points to high dollar More >>
Infratil defers bond sale to account for Labour-Greens plan
Wednesday, 24 April 2013, 8:53 am | BusinessDesk
Infratil defers opening of sale of 2022 bonds to amend prospectus for Labour-Greens plan More >>
NZ dollar gains vs. euro after German PMI, as RBNZ looms
Wednesday, 24 April 2013, 8:37 am | BusinessDesk
April 24 (BusinessDesk) – The New Zealand dollar rose against the euro after German manufacturing and euro-zone services weakened and edged up against the greenback ahead of the reserve Bank’s interest rate review. More >>
While you were sleeping: Wall Street gains, Netflix jumps
Wednesday, 24 April 2013, 7:27 am | BusinessDesk
April 24 (BusinessDesk) – Wall Street rallied amid optimism about the outlook for companies including Netflix as they beat earnings expectations. More >>
NZ shares still have room for gains this year: AMP Capital
Wednesday, 24 April 2013, 7:19 am | BusinessDesk
April 23 (BusinessDesk) - New Zealand shares can continue their rally this year after a stellar performance in 2012 as a growing economy underpins gains in corporate earnings, according to fund manager AMP Capital Investors (New Zealand). More >>
MARKET CLOSE: NZ shares rise; Diligent at record
Tuesday, 23 April 2013, 6:03 pm | BusinessDesk
April 23 (BusinessDesk) – New Zealand shares rose, led by Diligent Board Member Services as investors cheered its sales growth. Telecom and Fletcher Building paced the advance. More >>
NZ dollar falls as Chinese manufacturing misses expectations
Tuesday, 23 April 2013, 5:14 pm | BusinessDesk
April 23 (BusinessDesk) - The New Zealand dollar fell after a measure of Chinese manufacturing showed slower growth than expected, feeding fears the world's second-biggest economy won't be able to underpin global expansion, and ahead of tomorrow's monetary ... More >>
Australian, NZ dollars slip on weaker China PMI
Tuesday, 23 April 2013, 3:30 pm | BusinessDesk
April 23 (BusinessDesk) – The Australian and New Zealand dollars fell after a measure of manufacturing in China grew at a slower-than-expected pace this month, stoking concerns that the world’s second-biggest economy is stumbling and global expansion ... More >>
NZ consumers soak up doubling in reinsurance costs
Tuesday, 23 April 2013, 3:25 pm | BusinessDesk
April 23 (BusinessDesk) - New Zealand's largest insurance group, IAG, has slightly improved its underlying profit margins on insurance products while passing on a doubling in the cost global reinsurance because of the Canterbury earthquakes. More >>
NZX prices, data back in public view after 2-hour break
Tuesday, 23 April 2013, 2:52 pm | BusinessDesk
April 23 (BusinessDesk) – Publication of prices and announcements resumed on the NZX after a two-hour spell where only market participants could see what was going on and the benchmark stock index climbed to a new record. More >>
