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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 1193]
MAKET CLOSE: NZX 50 rises, rounding out 6.9% quarterly gain
Thursday, 28 March 2013, 5:53 pm | BusinessDesk
MAKET CLOSE: NZX 50 rises, rounding out 6.9% quarterly gain, as Telecom cuts costs More >>
NZ dollar heads of 4.5% quarterly gain vs. euro
Thursday, 28 March 2013, 5:19 pm | BusinessDesk
NZ dollar heads of 4.5% quarterly gain vs. euro as Cyprus bailout underlines European woes More >>
Blue Chip directors haven’t escaped threat of charges: FMA
Thursday, 28 March 2013, 4:26 pm | BusinessDesk
Blue Chip directors haven’t yet escaped threat of criminal charges as FMA awaits investor suits More >>
Short-term subsidies only for smelter, Ryall says
Thursday, 28 March 2013, 3:00 pm | BusinessDesk
March 28 (BusinessDesk) - The government is "not interested in subsidising a foreign multinational in the long term," State-Owned Enterprises Minister Tony Ryall told Parliament in response to opposition taunts about his intervention in ... More >>
King Country Energy cuts annual guidance as drought bites
Thursday, 28 March 2013, 1:05 pm | BusinessDesk
March 28 (BusinessDesk) - King Country Energy, which is majority owned by Todd Energy, has cut its annual earnings expectations as the worst drought in the North Island for seven decades has cut its hydro-electricity output and forced it to buy electricity ... More >>
MIDDAY UPDATE: Govt steps in over stalled smelter talks
Thursday, 28 March 2013, 12:38 pm | BusinessDesk
March 28 (BusinessDesk) - The government has become directly involved in brokering a deal between Tiwai Point smelter owner Rio Tinto and state-owned power company Meridian Energy over stalled electricity supply talks. More >>
NZ building consents rise 1.9% in February
Thursday, 28 March 2013, 11:46 am | BusinessDesk
March 28 (BusinessDesk) - New Zealand building consents rose 1.9 percent in February as an increased intentions to build retirement village units made up for a fall in new housing permits. More >>
Govt intervenes after Rio pressure on smelter contracts
Thursday, 28 March 2013, 11:19 am | BusinessDesk
March 28 (BusinessDesk) - The New Zealand government is offering unspecified assistance to keep the Bluff aluminium smelter open in the short term, a move which could save next month's float of MightyRiverPower, but blows away its hands-off policy on state-owned ... More >>
From the Farm: Aussie milk market will only get worse
Thursday, 28 March 2013, 10:42 am | BusinessDesk
There are all sorts of pressures in the Australian dairy market. At the retail end the battle between supermarket chains Coles and Woolworths has pushed the price of a litre of fresh milk down to $1. More >>
Telecom seeks $110M savings, to cut up to 1,230 jobs
Thursday, 28 March 2013, 10:12 am | BusinessDesk
Telecom seeks as much as $110M in annual savings from cutting up to 1,230 jobs More >>
Smelter contradicts Meridian - power deal still possible
Thursday, 28 March 2013, 10:02 am | BusinessDesk
March 28 (BusinessDesk) - The owners of the Bluff smelter issued a swift contradiction to this morning's claim by its supplier, Meridian Energy, of an impasse over contract negotiations, saying it believes "a commercial agreement can be reached" ... More >>
Bathurst gets tentative nod for Denniston mine plan
Thursday, 28 March 2013, 9:37 am | BusinessDesk
March 28 (BusinessDesk) - Would-be coking coal miner Bathurst Resources has gained tentative approval from the Environment Court to go ahead with its Escarpment Mine project on the West Coast's Denniston Plateau, though environmental groups say they ... More >>
NZ dollar rises to 7-month high vs. euro on Cyprus concern
Thursday, 28 March 2013, 9:12 am | BusinessDesk
NZ dollar rises to 7-month high vs. euro on concern Cyprus precedent may spur capital flight More >>
Meridian drops smelter bomb - new contract unlikely
Thursday, 28 March 2013, 9:03 am | BusinessDesk
March 28 (BusinessDesk) - Meridian Energy says it is "unlikely" to reach a new electricity supply agreement with its largest customer, the Tiwai Point aluminium smelter, which consumes around one-seventh of New Zealand's electricity. More >>
While you were sleeping: Italian deadlock, Cyprus worry
Thursday, 28 March 2013, 7:21 am | BusinessDesk
March 27 (BusinessDesk) – Stocks on both sides of the Atlantic slid amid concern about Europe's debt crisis spurred today by the apparent inability of Italian political leaders to agree on the formation of a new government. More >>
MARKET CLOSE: NZX heads higher on positive Fonterra result
Wednesday, 27 March 2013, 6:07 pm | BusinessDesk
March 27 (BusinessDesk) - New Zealand shares rose, with units of the Fonterra Shareholders’ Fund gaining strongly as the multi-national, Auckland-based dairy cooperative announced better than expected half year results. More >>
NZ dollar gains as investors seek cover from Cyprus fallout
Wednesday, 27 March 2013, 5:14 pm | BusinessDesk
March 27 (BusinessDesk) - The New Zealand gained against most of its major trading partners and was little changed against the greenback as investors seek out relatively safe places for their cash as the impact of the Cyprus bailout washes through the ... More >>
Hellaby shares fall 2.7% after halt for placement lifted
Wednesday, 27 March 2013, 4:01 pm | BusinessDesk
March 27 (BusinessDesk) - Shares in Hellaby Holdings fell 2.7 percent after the trading halt for a $40 million placement to institutional investors was lifted. More >>
Scott Technology lifts 1H profit 5.6%, strong NZD dims sales
Wednesday, 27 March 2013, 3:03 pm | BusinessDesk
Scott Technology lifts 1H profit 5.6% even as strong kiwi dollar eats into revenue More >>
NZ business confidence slips from 19-month high as ag dims
Wednesday, 27 March 2013, 1:52 pm | BusinessDesk
March 27 (BusinessDesk) - New Zealand business confidence fell from a 19-month high in March as the agricultural sector turned gloomy, seeing falling profits and less employment as drought prevails in the North Island. More >>
