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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 1203]
From The Farm: Urban Drift
Thursday, 7 March 2013, 5:33 pm | BusinessDesk
Human history has been defined by migration and one of the trends has been from the country to the city. China estimated a couple of years ago that 100 million peasant farmers will have moved to that nation’s cities by 2020. More >>
NZ dollar falls after US jobs report aids greenback
Thursday, 7 March 2013, 5:28 pm | BusinessDesk
March 7 (BusinessDesk) - The New Zealand dollar fell after upbeat US private sector jobs data built up expectations for employment in the world's biggest economy and after Australia's trade deficit was bigger than forecast. More >>
RBNZ's Wheeler to take more advice and make more speeches
Thursday, 7 March 2013, 5:01 pm | BusinessDesk
March 7 (BusinessDesk) - Reserve Bank governor Graeme Wheeler will heed the advice of his lieutenants in making major policy decisions and will make more public appearances. More >>
Cosgrove scents blood with former Solid Energy CEO's no-show
Thursday, 7 March 2013, 4:43 pm | BusinessDesk
March 7 (BusinessDesk) - Labour MP Clayton Cosgrove will attempt to force the former chief executive of Solid Energy, Don Elder, to appear before the commerce select committee. More >>
Shipley grilled on Mainzeal role and suitability for Genesis
Thursday, 7 March 2013, 4:36 pm | BusinessDesk
March 7 (BusinessDesk) - The former chair of companies in the collapsed construction group Mainzeal, Dame Jenny Shipley, faced hostile questions on her suitability as chair for state-owned electricity company Genesis Energy. More >>
Xero becomes billion dollar company without turning a profit
Thursday, 7 March 2013, 4:19 pm | BusinessDesk
March 7 (BusinessDesk) – Xero, Wellington-based cloud accounting software firm, has become New Zealand’s latest billion dollar company after its shares climbed to a new record today. More >>
Credit Sails report creates 'imbalanced impression': ForBarr
Thursday, 7 March 2013, 3:38 pm | BusinessDesk
March 7 (BusinessDesk) - Forsyth Barr, one of the lead managers for the sell-down of MightyRiverPower, has criticised a Commerce Commission report into the broker's role in the sale of complex and ultimately toxic securities, saying its creates an ... More >>
RESEND: Labour MPs put MRP on the spot over ASX listing
Thursday, 7 March 2013, 12:32 pm | BusinessDesk
March 7 (BusinessDesk) - Labour Party MP's took MightyRiverPower's leadership to task over plans to list the state-owned electricity company on the Australian stock exchange in its first appearance before a parliamentary select committee since the ... More >>
MIDDAY UPDATE: Dehydrated economy may lose $1B from drought
Thursday, 7 March 2013, 12:25 pm | BusinessDesk
March 7 (BusinessDesk) - The spreading drought across New Zealand's North Island is threatening to wipe $1 billion from the local economy as it saps farmers' production at the tail-end of the season. More >>
Labour MPs put MightyRiver on the spot over ASX listing
Thursday, 7 March 2013, 11:55 am | BusinessDesk
March 7 (BusinessDesk) - Labour Party MP's took MightyRiverPower's leadership to task over plans to list the state-owned electricity company on the Australian stock exchange in its first appearance before a parliamentary select committee since the ... More >>
Credit Sails' oldies save ForBarr, Credit Agricole from suit
Thursday, 7 March 2013, 11:02 am | BusinessDesk
March 7 (BusinessDesk) - Brokerage Forsyth Barr and French bank Credit Agricole avoided a lawsuit over the sale and promotion of the disastrous NZX-traded Credit Sails notes because the regulator deemed a settlement would return more to the mostly retired ... More >>
Briscoe posts record annual profit after lifting sales
Thursday, 7 March 2013, 10:58 am | BusinessDesk
March 7 (BusinessDesk) – Briscoe Group, the homeware and sports goods retailer controlled by managing director Rod Duke, said annual profit rose 11 percent to a record as sales gained more than costs, allowing the company to lift its dividend. More >>
Restaurant Brands 4Q sales rise 4.5% as Carl’s Jr chips in
Thursday, 7 March 2013, 10:21 am | BusinessDesk
Restaurant Brands 4th-qtr sales rise 4.5% as Carl’s Jr makes up for Starbuck’s dip More >>
Turners Auctions loses contract to sell wrecks for IAG
Thursday, 7 March 2013, 9:25 am | BusinessDesk
March 7 (BusinessDesk) - Turners Auctions has lost the contract to sell damaged vehicles for Insurance Australian Group, New Zealand’s largest general insurer, eliminating a revenue line that generates more than 15 percent of profit. More >>
NZ dollar slips as US ADP jobs report aids greenback
Thursday, 7 March 2013, 8:56 am | BusinessDesk
March 7 (BusinessDesk) – The New Zealand dollar fell back below 83 US cents after a US private sector jobs report came in stronger than expected, stoking speculation the Federal Reserve will curtail its money printing sooner than has been projected. More >>
While you were sleeping: Dow extends record run
Thursday, 7 March 2013, 7:35 am | BusinessDesk
March 7 (BusinessDesk) – After hitting a fresh intraday high, the Dow Jones Industrial Average gave up some of those gains as investors looked for a fresh catalyst to extend the rally. More >>
UPDATE: MARKET CLOSE NZ shares rise on OZ growth, record Dow
Wednesday, 6 March 2013, 6:21 pm | BusinessDesk
March 6 (BusinessDesk) – New Zealand shares rose, led by Air New Zealand and Kathmandu, after the Dow Jones Industrial Average hit a record high, better economic growth in Australia and as the local market digests New Corp’s Sky Network Television ... More >>
A2 Corp to join top 50 index, toppling PGG Wrightson
Wednesday, 6 March 2013, 6:11 pm | BusinessDesk
March 6 (BusinessDesk) - Alternative milk marketer A2 Corp is set to join the NZX 50 Index after qualifying in the February review, and will topple rural services firm PGG Wrightson from the benchmark bourse. More >>
MARKET CLOSE: NZ shares up on Oz growth, record Dow, Sky TV
Wednesday, 6 March 2013, 6:10 pm | BusinessDesk
March 6 (BusinessDesk) – New Zealand shares rose, led by Air New Zealand and Kathmandu, after the Dow Jones Industrial Average hit a record high, better economic growth in Australia and as the local market digests New Corp’s Sky Network Television ... More >>
Crown wants stiffer sentences for Lombard directors
Wednesday, 6 March 2013, 5:40 pm | BusinessDesk
March 6 (BusinessDesk) – The Crown will argue for home detention to be imposed to the existing community service sentences of former Lombard Finance directors Sir Doug Graham, Bill Jeffries, Lawrie Bryant and a sterner sentence for executive director ... More >>
