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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 1198]
Gull to appeal Customs decision to Supreme Court
Tuesday, 19 March 2013, 2:00 pm | BusinessDesk
March 19 (BusinessDesk) - Cut-price petrol retailer Gull Petroleum has won the right to appeal to the Supreme Court in its stoush with the Customs Department over the rate of excise duty it should charge on butane added to petrol arriving at the wharf ... More >>
Diligent to hire new CFO, general counsel
Tuesday, 19 March 2013, 1:02 pm | BusinessDesk
March 19 (BusinessDesk) - Diligent Board Member Services, whose software helps directors to manage corporate governance information flows, will replace chief financial officer Steven Ruse and general counsel Robert Norton after an internal probe into compliance ... More >>
MIDDAY UPDATE: Summerset shares fall after Quadrant sells
Tuesday, 19 March 2013, 12:28 pm | BusinessDesk
March 19 (BusinessDesk) – Shares of Summerset Group fell after major shareholder Quadrant Private Equity completed the sale of 18.6 percent of the retirement village operator. More >>
Online data-sharing - half don't know, one-third don't care
Tuesday, 19 March 2013, 10:39 am | BusinessDesk
March 18 (BusinessDesk) - Around half of New Zealanders don't realise their personal information is being collected online for use by companies, governments and other organisations to market goods and services, while approximately a third of people ... More >>
First drilling OK'd for TAG’s East Coast oil and gas search
Tuesday, 19 March 2013, 9:54 am | BusinessDesk
March 19 (BusinessDesk) - Canadian oil and gas producer TAG Oil has gained resource consents to drill two exploratory wells in the first search for oil and gas on the East Coast of the North Island. More >>
Quadrant sells 18.6% of Summerset, trading halt lifted
Tuesday, 19 March 2013, 8:55 am | BusinessDesk
March 19 (BusinessDesk) - Quadrant Private Equity has completed its sale of 18.6 percent of Summerset Group and the retirement village operator’s shares have been taken off trading halt. More >>
NZ dollar edges up as Cyprus deal may be watered down
Tuesday, 19 March 2013, 8:45 am | BusinessDesk
March 19 (BusinessDesk) – The New Zealand dollar edged higher against the greenback after Cyprus delayed a vote on its EU bailout amid talk the proposal may be watered down. More >>
While you were sleeping: Stocks drop on Cyprus levy
Tuesday, 19 March 2013, 7:15 am | BusinessDesk
March 19 (BusinessDesk) – A plan to tax Cypriots' bank accounts to help fund a bailout for the debt-laden euro zone country weighed on financial markets on both sides of the Atlantic, a poignant reminder of the ongoing risks the European crisis ... More >>
MARKET CLOSE: NZ shares drop on Cyprus uncertainty
Monday, 18 March 2013, 5:39 pm | BusinessDesk
March 18 (BusinessDesk) – New Zealand shares fell as risk appetite worldwide was rattled by events in Cyprus and after retailer Pumpkin Patch said inventory disruptions and tough trading hurt sales in its first half. More >>
NZ dollar holds near recent lows on fears of Cyprus syndrome
Monday, 18 March 2013, 5:01 pm | BusinessDesk
NZ dollar holds near recent lows as fears of Cyprus effect widen, sapping risk appetite More >>
Government backs down on car park tax
Monday, 18 March 2013, 4:43 pm | BusinessDesk
The Government has abandoned controversial plans to impose a tax on employee- paid carparks in Wellington and Auckland after a backlash that rallied opponents ranging from unions to business lobbies. More >>
NZ Dollar Outlook Kiwi may fall as Cyprus unnerves markets
Monday, 18 March 2013, 3:53 pm | BusinessDesk
March 18 (BusinessDesk) – The New Zealand dollar may fall this week, with the US Federal Reserve’s statement on Thursday and fallout over Cyprus’s bailout likely to trump local economic growth and balance of payments data. More >>
Pacific Edge sees $100M revenue from US in five years
Monday, 18 March 2013, 3:43 pm | BusinessDesk
March 18 (BusinessDesk) - Dunedin-based bladder cancer detection test inventor Pacific Edge believes it could be turning over $100 million a year in the United States within five years, following the registration of its own diagnostic laboratory in Pennsylvania. More >>
Rains helped some areas, others left dry: Landcorp’s Kelly
Monday, 18 March 2013, 2:48 pm | BusinessDesk
March 18 (BusinessDesk) – Patchy rains have provided relief for some farming areas and left others without substantive moisture, says Chris Kelly, chief executive of state-owned Landcorp, New Zealand’s biggest farmer. More >>
NZ pork lobby loses appeal over imported raw meat risk
Monday, 18 March 2013, 1:56 pm | BusinessDesk
March 18 (BusinessDesk) – NZ Pork, the lobby group for the nation’s pig farmers, has lost its appeal against changes to import health standards that will allow raw meat from countries with Porcine Reproductive and Respiratory Syndrome (PRRS) into ... More >>
NZ services sector grows at fastest pace in four months
Monday, 18 March 2013, 11:50 am | BusinessDesk
March 18 (BusinessDesk) – New Zealand’s services sector grew at the fastest pace in four months in January, adding to signs that business activity has strengthened in recent months. More >>
Xero’s Drury says too early for US listing
Monday, 18 March 2013, 11:28 am | BusinessDesk
March 18 (BusinessDesk) – Xero, the cloud-based computing company whose shares have more than tripled in the past 12 months, isn’t yet large enough to consider a US listing, says founder and chief executive Rod Drury. The shares dipped from ... More >>
Consumer confidence holds up despite drought and job cuts
Monday, 18 March 2013, 10:45 am | BusinessDesk
March 18 (BusinessDesk) - New Zealanders continue to feel relatively chipper about their economic circumstances, despite the national spread of drought conditions and a string of high profile job cuts, the Westpac McDermott-Miller confidence survey ... More >>
Pumpkin Patch returns to 1H profit, sales fall
Monday, 18 March 2013, 10:39 am | BusinessDesk
March 18 (BusinessDesk) – Pumpkin patch, the children’s clothing chain, returned to profit in the first half as costs to close underperforming stores in the US and UK a year earlier weren’t repeated. Sales fell on tough trading conditions and ... More >>
Quadrant cedes control of Summerset in selldown
Monday, 18 March 2013, 9:31 am | BusinessDesk
March 18 (BusinessDesk) – Quadrant Private Equity is ceding control of Summerset Group Holdings after agreeing to sell 40 million shares in the retirement village operator through brokerage UBS New Zealand. More >>
