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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 1194]
Telecom residential UFB cheapest option $95/month
Wednesday, 27 March 2013, 12:44 pm | BusinessDesk
March 27 (BusinessDesk) - Telecom Corp, which is in the process of overhauling its business, has launched its pricing plans for ultra-fast broadband, with the cheapest option available at $95 a month. More >>
Fonterra to slash Australian brands to restore profitability
Wednesday, 27 March 2013, 12:43 pm | BusinessDesk
March 27 (BusinessDesk) – Fonterra Cooperative Group plans to slash its consumer brands in Australia to restore profitability as competition intensifies for both milk supply and retail sales. More >>
MIDDAY UPDATE: Fonterra lifts payout as drought boosts price
Wednesday, 27 March 2013, 12:37 pm | BusinessDesk
March 27 (BusinessDesk) - Fonterra Cooperative Group has raised its forecast payout to farmers by 30 cents per kilogram of milk solids as drought across the North Island saps supply and pushes up global dairy prices. More >>
Hellaby halts shares to raise $50M at 10% discount
Wednesday, 27 March 2013, 10:14 am | BusinessDesk
March 27 (BusinessDesk) – Hellaby Holdings had its shares halted for a $50 million equity capital raising as the diversified investment company hunts for acquisitions to revive earnings growth. More >>
MightyRiver CEO confirms departure, triggers $500k payday
Wednesday, 27 March 2013, 9:46 am | BusinessDesk
March 27 (BusinessDesk) - The founding chief executive of MightyRiverPower, Doug Heffernan, will leave the company next year after 16 years at the helm under arrangements that trigger a $500,000 retention payment on top of his existing salary of almost ... More >>
Fonterra lifts forecast payout, 1H profit climbs 33 percent
Wednesday, 27 March 2013, 9:10 am | BusinessDesk
March 27 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, expects to pay 30 cents more to farmers per kilogram of milk solids as drought pushed up global dairy prices and the cooperative lifted first half profit by a third. More >>
NZ dollar gains on US data; Fonterra lifts payout forecast
Wednesday, 27 March 2013, 8:49 am | BusinessDesk
March 27 (BusinessDesk) – The New Zealand dollar rose as better US housing and durable goods data helped boost risk appetite and stocks on Wall Street, while at home Fonterra Cooperative Group lifted its forecast payout to farmers. More >>
While you were sleeping: Solid US eco data
Wednesday, 27 March 2013, 7:22 am | BusinessDesk
March 27 (BusinessDesk) – Wall Street advanced as the latest US housing numbers confirmed expectations that the industry will sustain its recovery, underpinning optimism for the overall strength of the American economy. More >>
MARKET CLOSE: NZ shares rise; Fonterra up before results
Tuesday, 26 March 2013, 5:45 pm | BusinessDesk
March 26 (BusinessDesk) – New Zealand shares rose, with units of the Fonterra Shareholders’ Fund gaining ahead of company’s interim results tomorrow, while Ryman Healthcare, rated outperform by analysts, rose to a record. More >>
NZ dollar may fall as Cyprus deal raises spectre of bank run
Tuesday, 26 March 2013, 5:19 pm | BusinessDesk
March 26 (BusinessDesk) - The New Zealand dollar may fall if a bank run in heavily indebted nations emerges after a lifeline thrown to Cyprus saw a major bank shut down and will leave uninsured depositors facing losses. More >>
NZRU posts 1st operating profit in 5 years, helped by AIG
Tuesday, 26 March 2013, 3:36 pm | BusinessDesk
March 26 (BusinessDesk) - The New Zealand Rugby Union has posted its first annual operating profit since 2008, beating its own target, helped by a five-and-a-half year deal with global insurer AIG. More >>
Abano forecasts FY sales growth up to 1.3%, jump in profit
Tuesday, 26 March 2013, 3:28 pm | BusinessDesk
March 26 (BusinessDesk) – Abano Healthcare Group, which invests in specialty health clinics, forecasts growth in full-year sales and profit driven by the expansion of its dental business. The shares rose 3.8 percent. More >>
MIDDAY UPDATE: RBNZ to up ante on home loan capital needs
Tuesday, 26 March 2013, 12:38 pm | BusinessDesk
March 26 (BusinessDesk) - The Reserve Bank wants lenders to carry more cash on their books relative to high loan-to-value ratio home loans, as it prepares to pull out a new toolkit to protect the nation's financial stability. More >>
NZ posts bigger than expected trade surplus in February
Tuesday, 26 March 2013, 11:45 am | BusinessDesk
NZ posts bigger than expected trade surplus in February on dairy, log shipments to China More >>
Kathmandu’s Australian stores drive first-half sales growth
Tuesday, 26 March 2013, 10:55 am | BusinessDesk
March 26 (BusinessDesk) – Kathmandu, the outdoor equipment retailer, posted a 13 percent gain in first-half sales, driven by revenue from is biggest market of Australia. More >>
Reserve Bank seeks views on home loan capital requirements
Tuesday, 26 March 2013, 10:33 am | BusinessDesk
March 26 (BusinessDesk) - The Reserve Bank is testing the waters for making lenders carry more capital cover on their balance sheets for high loan-to-value ratio mortgages, where it sees more risk to the country's financial system. More >>
Diligent may breach listing rules for using US auditor
Tuesday, 26 March 2013, 9:32 am | BusinessDesk
March 26 (BusinessDesk) - Diligent Board Member Services faces breaching listing rules after the stock exchange regulator refused an application to waive its use of an American auditor without a local licence. More >>
Veritas to offer shares at $1.30 in Mad Butcher purchase
Tuesday, 26 March 2013, 9:29 am | BusinessDesk
Veritas to offer shares at $1.30 apiece in fund raising for Mad Butcher purchase More >>
NZ dollar gains vs. euro on comment Cyprus could be template
Tuesday, 26 March 2013, 9:09 am | BusinessDesk
March 26 (BusinessDesk) – The New Zealand dollar surged to a seven-month high against the euro after a European official said terms of a bailout for Cyprus, where uninsured depositors will face losses, could serve as a template in other euro-zone countries. More >>
While you were sleeping: Cyprus' unpalatable precedent
Tuesday, 26 March 2013, 7:09 am | BusinessDesk
March 26 (BusinessDesk) – Initial optimism over the agreement on a financial rescue for Cyprus turned to concern about the increased exposure of investors and depositors to banking losses in the euro zone. More >>
