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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 1200]
NZ dollar extends slide vs. Aust dollar on upbeat jobs data
Thursday, 14 March 2013, 2:48 pm | BusinessDesk
March 14 (BusinessDesk) – The New Zealand dollar extended its slide against the Australian dollar after figures showed Australia’s economy added eight times more jobs than forecast last month, dimming the prospects of a cut in interest rates across ... More >>
From the Farm: Drought’s muted impact?
Thursday, 14 March 2013, 1:00 pm | BusinessDesk
Looking at NASA’s picture of the North Island this month compared to March last year (http://t.co/dPfiNHcpzl), the most striking difference is that green has become beige. All that pasture has dried off. More >>
MIDDAY UPDATE: RBNZ's Wheeler eyes stick over high kiwi
Thursday, 14 March 2013, 12:26 pm | BusinessDesk
March 14 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has reminded the market he has some tricks up his sleeve if the New Zealand dollar charges higher without cause, and isn't afraid to use them. More >>
RBNZ’s Wheeler jolts markets with reminder OCR cut possible
Thursday, 14 March 2013, 11:28 am | BusinessDesk
RBNZ’s Wheeler jolts markets with reminder OCR cut still possible, sending kiwi, swap rates lower By Paul McBeth More >>
NZ dollar tumbles on RBNZ hint it may act on strength
Thursday, 14 March 2013, 9:44 am | BusinessDesk
March 14 (BusinessDesk) – The New Zealand dollar tumbled almost 1 US cents after the Reserve Bank said interest rates will remain at a record low through this year and hinted at a cut to the official cash rate if the currency was higher than justified ... More >>
Sharp drop in kiwi dollar would need policy response: RBNZ
Thursday, 14 March 2013, 9:12 am | BusinessDesk
March 14 (BusinessDesk) - A sharp drop in an over-valued New Zealand dollar that created inflationary pressure would need a monetary policy response, according to the Reserve Bank. More >>
NZ drought, livestock slaughter to weigh on agriculture
Thursday, 14 March 2013, 9:09 am | BusinessDesk
March 14 (BusinessDesk) - Arid conditions across the country that have led to a drought being declared in several North Island regions and kicked off early livestock slaughter threatens to derail agricultural production down the line, according to the Reserve ... More >>
RBNZ says OCR to be unchanged this year amid uneven recovery
Thursday, 14 March 2013, 9:08 am | BusinessDesk
March 14 (BusinessDesk) - Reserve Bank governor Graeme Wheeler held the official cash rate at 2.5 percent, as expected, saying the benchmark rate is expected to move this year amid an uneven economic recovery. The kiwi dollar dropped on the news More >>
NZ dollar little changed before OCR review, Australian jobs
Thursday, 14 March 2013, 8:36 am | BusinessDesk
March 14 (BusinessDesk) – The New Zealand dollar was little changed ahead of the Reserve Bank’s statement as traders ponder its assessment of the impact of drought, a high kiwi dollar and a hot Auckland property market on the outlook for the economy. More >>
While you were sleeping: US consumer flexes muscle
Thursday, 14 March 2013, 7:14 am | BusinessDesk
March 14 (BusinessDesk) – A report showing US retail sales in February far exceeded forecasts supported Wall Street, underpinning expectations the American economic recovery is here to stay with help from the Federal Reserve. More >>
MARKET CLOSE: NZ shares fall as Telecom, AIA shed dividends
Wednesday, 13 March 2013, 5:59 pm | BusinessDesk
March 13 (BusinessDesk) – New Zealand shares fell led by Telecom and Auckland International Airport as a swag of companies went ex-dividend and some investors took advantage of shares at 5-year highs to lighten their holdings. More >>
Big dry hits smelter production
Wednesday, 13 March 2013, 5:39 pm | BusinessDesk
March 13 (BusinessDesk) - Low rainfall in southern hydro catchments has forced the Bluff aluminium smelter to cut back consumption and output by 5 percent, on top of cuts already in place because of low world aluminium prices. More >>
NZ dollar falls below 80 Australian cents as drought weighs
Wednesday, 13 March 2013, 5:15 pm | BusinessDesk
March 13 (BusinessDesk) - The New Zealand dollar fell below 80 Australian cents for the first time since January as the drought across much of the North Island weighs on investors' confidence in the local recovery, and as the Reserve Bank prepares ... More >>
Telecom to lay off 120 staff from Gen-i Australia
Wednesday, 13 March 2013, 12:45 pm | BusinessDesk
March 13 (BusinessDesk) - Telecom Corp, the country's biggest phone company, has kicked off its structural overhaul by whittling down the services offered at its Gen-i Australia unit in a move that will see 120 jobs go. More >>
MIDDAY UPDATE: Telecom to lay off 120 staff in Gen-i Aust
Wednesday, 13 March 2013, 12:25 pm | BusinessDesk
March 13 (BusinessDesk) - Telecom Corp has embarked on its structural overhaul with a rejig of its Gen-i Australia unit that will see about 120 staff laid off. More >>
NZ food prices fall in February on cheaper fruit, veg, meat
Wednesday, 13 March 2013, 11:37 am | BusinessDesk
March 13 (BusinessDesk) - New Zealand food prices fell last month led by cheaper, meat and in-season fruit and vegetables, though milk prices rose to a nine-month high. More >>
Herbert receiverships wind up with $595k shortfall to ASB
Wednesday, 13 March 2013, 10:42 am | BusinessDesk
March 13 (BusinessDesk) – The receiverships of Herbert Insurance Group (HIG) and Herbert Securities, whose director Grant Herbert is up on fraud charges, have been wound up with a $595,000 shortfall to secured creditor ASB Bank. More >>
NZ dollar little changed as Wall Street rally falters
Wednesday, 13 March 2013, 8:49 am | BusinessDesk
March 13 (BusinessDesk) – The New Zealand dollar was little changed as Wall Street’s rally to record levels ran out of puff and traders pondered the effects on the economy of widespread drought in the North Island. More >>
While you were sleeping: Dow slips from record
Wednesday, 13 March 2013, 6:53 am | BusinessDesk
March 13 (BusinessDesk) – Wall Street pulled back, with the Dow retreating from yesterday's record close, as solid American jobs data failed to outweigh concern about Europe's outlook. More >>
MARKET CLOSE: NZ shares rise, led by Auckland Airport
Tuesday, 12 March 2013, 5:59 pm | BusinessDesk
March 12 (BusinessDesk) – New Zealand shares rose, led by Auckland International Airport after the effects of the NZ Super Fund’s selldown last month washed out of trading while Heartland NZ benefited from surging bank stocks in Australia. More >>
