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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 1202]
World Week Ahead: Caution rises with momentum
Monday, 11 March 2013, 7:55 am | BusinessDesk
March 11 (BusinessDesk) – The Dow Jones Industrial Average's record-setting streak has bolstered both momentum and caution as the US economy continues to produce signs the Federal Reserve's efforts to stoke the pace of recovery are paying off. More >>
MONEY TALKS: On Credit Sailing too close to the wind
Saturday, 9 March 2013, 5:51 pm | BusinessDesk
A favourite throwaway line of mine from the late Bill Hicks, the American stand-up comedy genius, urged anyone in the audience who worked in marketing or advertising to rid the world of their evil presence because they were sons of Satan and had no ... More >>
MARKET CLOSE: NZ’s benchmark NZX 50 charts new record
Friday, 8 March 2013, 5:34 pm | BusinessDesk
March 8 (BusinessDesk) – New Zealand shares rose, extending the NZX 50 Index’s gain to a new record, as investors piled into Diligent Board Members Services and rewarded Warehouse Group earnings growth and bigger dividend. More >>
NZ dollar falls as Chinese imports drop, payrolls loom
Friday, 8 March 2013, 5:25 pm | BusinessDesk
NZ dollar falls as Chinese imports drop in holiday shortened February, US jobs data looms More >>
Hubbard Management statutory managers make further payment
Friday, 8 March 2013, 4:09 pm | BusinessDesk
March 8 (BusinessDesk) - Statutory managers of the frozen Hubbard Management Funds will make a further payment to investors of 15 cents in the dollar as they work toward full repayment. More >>
Infratil seeks cash through Z float, windfarm sale, new bond
Friday, 8 March 2013, 1:44 pm | BusinessDesk
March 8 (BusinessDesk) - Infrastructure investor Infratil is seeking to fill its coffers for new, earlier stage investments through the part-sale of its 50 percent shareholding in Z Energy, the possible part-sale of an Australian windfarm, and the ... More >>
NZ manufacturing keeps growing in December quarter
Friday, 8 March 2013, 1:18 pm | BusinessDesk
March 8 (BusinessDesk) - New Zealand manufacturing volumes continued to grow in the final three months of 2012, and a rundown in stocks outside food and beverage bodes well for the sector this year as construction gets underway in Canterbury and Auckland. More >>
NZ property values gain in Feb, still led by Auckland, Chch
Friday, 8 March 2013, 1:15 pm | BusinessDesk
March 8 (BusinessDesk) - New Zealand property values continued to rise in February, with most of the increase still coming from Auckland and Canterbury. More >>
High kiwi, drought add to conflicting pressures on RBNZ
Friday, 8 March 2013, 12:59 pm | BusinessDesk
March 8 (BusinessDesk) – Reserve Bank governor Graeme Wheeler has an increasing number of moving parts to juggle in his assessment of monetary policy, with the kiwi dollar higher than forecast, a resurgent housing market and the impact of drought ... More >>
MIDDAY UPDATE: Warehouse ditches Bond + Bond
Friday, 8 March 2013, 12:27 pm | BusinessDesk
March 8 (BusinessDesk) - Warehouse Group has decided to ditch the Bond + Bond consumer electronics brand and will roll the stores under the Noel Leeming banner after buying the group in December. More >>
Soros installs Szlezak on GPG board after taking 8% stake
Friday, 8 March 2013, 12:26 pm | BusinessDesk
March 8 (BusinessDesk) – Billionaire George Soros has installed a director on the board of Guinness Peat Group after the Quantum Strategic Partners fund his firm manages took an 8 percent stake in the investment company last year. More >>
Brierley passes half-way point in GPG exit, raising $17.7M
Friday, 8 March 2013, 11:09 am | BusinessDesk
March 8 (BusinessDesk) - Corporate raider Sir Ron Brierley has passed the half-way point in his exit from Guinness Peat Group, the investment firm he founded in the early 1990s, and has raised some $17.73 million in a series of sales since October ... More >>
Wellington Drive Technologies halted pending statement
Friday, 8 March 2013, 10:58 am | BusinessDesk
March 8 (BusinessDesk) - Wellington Drive Technologies, the unprofitable manufacturer of energy efficient motors, has requested a trading halt pending an announcement. More >>
Crown operating deficit smaller than forecast
Friday, 8 March 2013, 10:35 am | BusinessDesk
March 8 (BusinessDesk) - The New Zealand government had a smaller operating deficit than expected in the first seven months of the financial year as the tax take on investments gained on the rally in stock markets, and higher income workers made ... More >>
Musical chairs as Genesis appoints new bonds trustee
Friday, 8 March 2013, 10:00 am | BusinessDesk
March 8 (BusinessDesk) – Genesis Energy, the state-owned energy company, has called a meeting of investors in its hybrid bonds to replace the trustee installed by the Financial Markets Authority with the Jim Bolger-chaired Trustees Executors. More >>
Warehouse almost doubles 1H profit on property sales
Friday, 8 March 2013, 9:18 am | BusinessDesk
March 8 (BusinessDesk) - Warehouse Group, which this week bought a majority stake in online retailer Torpedo7, almost doubled net profit after selling properties as part of leaseback arrangements, and will pay a bigger interim dividend than analysts ... More >>
Third quarter listing mooted for Z Energy
Friday, 8 March 2013, 9:17 am | BusinessDesk
March 8 (BusinessDesk) - Three years after taking over Shell New Zealand's petrol refining, transport and retail operations, Infratil and the New Zealand Superannuation Fund are looking to float between 40 percent and 60 percent of Z Energy on the NZX ... More >>
NZ dollar falls vs euro as Draghi less gloomy; payrolls loom
Friday, 8 March 2013, 9:00 am | BusinessDesk
March 8 (BusinessDesk) – The New Zealand dollar declined against the euro after European Central bank chief Mario Draghi was less gloomy than some in the market had expected, forcing traders to cover their short positions. More >>
While you were sleeping: Labour lifts
Friday, 8 March 2013, 7:40 am | BusinessDesk
March 8 (BusinessDesk) – Better-than-expected American labour data propelled the Dow Jones Industrial Average to another intraday record high. More >>
MARKET CLOSE: NZ shares rise to record; Xero tops $1 bln
Thursday, 7 March 2013, 6:04 pm | BusinessDesk
March 7 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index to the highest since it was created in 2003, as Xero’s market value exceeded $1 billion for the first time and a broad rally swept up Telecom, Sky Network Television and ... More >>
