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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 1205]
Australian central bank keeps rate cut up sleeve
Tuesday, 5 March 2013, 5:31 pm | BusinessDesk
March 5 (BusinessDesk) – The Reserve Bank of Australia kept its cash rate unchanged at 3 percent as expected, while saying it has room to ease further if needed in the face of tame inflation and noting more stability in the global economy. More >>
NZ dollar surges asRBA stays put and Aussie data improves
Tuesday, 5 March 2013, 5:15 pm | BusinessDesk
March 5 (BusinessDesk) - The New Zealand dollar climbed after the Reserve Bank of Australia kept rates on hold amid an improving economic recovery, and after retail sales and current account data across the Tasman beat expectations. More >>
MRP share registration site crashes under heavy demand
Tuesday, 5 March 2013, 5:08 pm | BusinessDesk
March 5 (BusinessDesk) - Strong interest in the partial privatisation of MightyRiverPower was apparent today, with some 35,000 people pre-registering their interest in buying shares in the state-owned power company. More >>
UPDATE: Tax advisers' shock at taxman's big avoidance win
Tuesday, 5 March 2013, 3:28 pm | BusinessDesk
March 5 (BusinessDesk) - Senior tax practitioners are in shock after the Inland Revenue Department won another key tax avoidance case in the Court of Appeal, with implications for at least 16 companies and some $300 million of back tax, interest and penalties ... More >>
Bank of NZ offers 6% overdrafts for drought-hit farmers
Tuesday, 5 March 2013, 3:02 pm | BusinessDesk
March 5 (BusinessDesk) – Bank of New Zealand has announced a 6 percent overdraft facility up to $100,000 for farmers affected by drought. More >>
Fire sale of toxic loans keeps Allied Farmers ticking
Tuesday, 5 March 2013, 2:42 pm | BusinessDesk
March 5 (BusinessDesk) - Allied Farmers has kept itself alive for now by selling a series of toxic loans for as much as $600,000, after facing a call on debt that had to be satisfied yesterday. More >>
Tax advisers in shock as taxman wins another avoidance case
Tuesday, 5 March 2013, 12:53 pm | BusinessDesk
March 5 (BusinessDesk) - Senior tax practitioners are in shock after the Inland Revenue Department won another key tax avoidance case in the Court of Appeal, with implications for at least 16 companies and some $300 million of back tax, interest and penalties ... More >>
MIDDAY UPDATE: Appeal court upholds IRD view on hybrid notes
Tuesday, 5 March 2013, 12:17 pm | BusinessDesk
March 5 (BusinessDesk) - The Court of Appeal has upheld a ruling supporting the Inland Revenue Department's view that Alesco Corp's hybrid notes acting as both debt and equity were used in a way to avoid paying tax. More >>
Smith green-lights Tauranga port dredging plan
Tuesday, 5 March 2013, 11:23 am | BusinessDesk
March 5 (BusinessDesk) - Conservation Minister Nick Smith has given the green light for Port of Tauranga to widen and deepen its shipping channels, creating space to let in bigger vessels. More >>
Barfoot's Auckland listings, sales extend gains in February
Tuesday, 5 March 2013, 10:57 am | BusinessDesk
March 5 (BusinessDesk) - Auckland real estate firm Barfoot & Thompson lifted its property listings and sales last month, which slowed the pace of price rises as more houses were available to meet overheating demand. More >>
Govt dangles MRP allocation cherry to kiwis who pre-register
Tuesday, 5 March 2013, 10:37 am | BusinessDesk
March 5 (BusinessDesk) – New Zealanders are being offered an allocation incentive to pre-register for shares in MightyRiverPower as the government ramps up a campaign to promote the $1.8 billion selldown of the state-owned power company. More >>
ACC names Willis Group executive Scott Pickering as new CEO
Tuesday, 5 March 2013, 10:12 am | BusinessDesk
March 5 (BusinessDesk) – Accident Compensation Corp named Scott Pickering, an executive at NYSE-listed insurance broker Willis Group Holdings, as its new chief executive. More >>
MONEY TALKS: Teaching the central bank new tricks
Tuesday, 5 March 2013, 9:57 am | BusinessDesk
March 5 (BusinessDesk) - Do you remember the days of the debt-fuelled scramble to borrow 100 percent for the house and a little on top to cover any incidentals? More >>
NZX looks to launch spot gas market in June
Tuesday, 5 March 2013, 9:42 am | BusinessDesk
March 5 (BusinessDesk) - Stock exchange operator NZX is looking to launch a new spot gas market in June this year expanding its range of services, and providing participants a new tool to manage their supply as the sector new pipeline requirements. More >>
NZ dollar gains as Australian data, RBA loom, rises vs. euro
Tuesday, 5 March 2013, 9:29 am | BusinessDesk
March 5 (BusinessDesk) – The New Zealand dollar, recovering from a dip late yesterday, gained as traders await Australian retail sales, current account figures and the Reserve Bank’s policy review for a take on the strength of the nation’s biggest ... More >>
New Corp completes $815.3M sale of Sky TV stake
Tuesday, 5 March 2013, 8:48 am | BusinessDesk
March 5 (BusinessDesk) - Rupert Murdoch's News Corp completed the $815.3 million sale of its stake in local pay-TV operator Sky Network Television. More >>
While you were sleeping: Chinese data raise concern
Tuesday, 5 March 2013, 7:34 am | BusinessDesk
March 5 (BusinessDesk) – Wall Street fell as the latest data on China's services industries raised concern about the strength of the world's second-largest economy, just as US$85 billion of US federal spending cuts are kicking in. More >>
Downside risk in use of macro-prudential tools, warns RBNZ
Monday, 4 March 2013, 5:35 pm | BusinessDesk
March 4 (BusinessDesk) - Yanking the levers of the banking system to choke off a credit cycle boom requires care, since there's no guarantee how people will start borrowing again once the lever is released, the Reserve Bank of New Zealand says. More >>
MARKET CLOSE NZ shares fall on fundraising for Sky TV sale
Monday, 4 March 2013, 5:35 pm | BusinessDesk
March 4 (BusinessDesk) – New Zealand shares fell from near a 5-year high after Rupert Murdoch’s News Ltd said it will sell a 44 percent stake in Sky Network Television at a discount, prompting investors to liquidate other holdings to free up funds. More >>
NZ dollar falls to 2-month low on Australian data
Monday, 4 March 2013, 5:09 pm | BusinessDesk
March 4 (BusinessDesk) - The New Zealand dollar fell to a two-month low as weaker-than-expected Australian data sapped already strained investors' appetite for higher yields, with Italy's election keeping people uncertain about Europe's future and the US Federal ... More >>
