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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 1207]
NZOG throttles back on Tunisian oil and gas field project
Friday, 1 March 2013, 5:21 pm | BusinessDesk
March 1 (BusinessDesk) - New Zealand Oil & Gas's attempt to diversify into international territories has taken a knock, with the company declining to support a development plan to develop the Cosmos South oil field, offshore Tunisia. More >>
Liquidators appointed to Mainzeal, Richina companies
Friday, 1 March 2013, 4:48 pm | BusinessDesk
March 1 (BusinessDesk) - Liquidators have been appointed to a raft of Mainzeal and Richina related companies at the request of the shareholder. More >>
Govt hits back at 'scaremongering' over RMA proposals
Friday, 1 March 2013, 3:39 pm | BusinessDesk
March 1 (BusinessDesk) - Environment Minister Amy Adams is taking a combative approach to early criticism from environmental groups of the government's proposed changes to the Resource Management Act, saying the critics are "out of touch with New ... More >>
Allied Farmers takes further impairment on Hanover assets
Friday, 1 March 2013, 3:10 pm | BusinessDesk
March 1 (BusinessDesk) – Allied Farmers has taken a further $4.1 million impairment on its ex-Hanover Finance assets, inflating its first-half loss, which still narrowed from a year earlier. More >>
CORRECT: Telecom appoints Lion's Jolie Hodson as new CFO
Friday, 1 March 2013, 2:48 pm | BusinessDesk
March 1 (BusinessDesk) - Telecom Corp, the county's biggest phone company, has appointed Lion finance director Jolie Hodson as its new top number cruncher. More >>
Veritas to offer up to $25M of shares in April
Friday, 1 March 2013, 1:40 pm | BusinessDesk
Veritas to offer up to $25M of shares in April, has $10M facility with ANZ More >>
Telecom appoints Lion's Jolie Hudson as new CFO
Friday, 1 March 2013, 12:39 pm | BusinessDesk
March 1 (BusinessDesk) - Telecom Corp, the county's biggest phone company, has appointed Lion finance director Jolie Hudson as its new top number cruncher. More >>
MIDDAY UPDATE: Outsourcing leaves Postie Plus reeling
Friday, 1 March 2013, 12:27 pm | BusinessDesk
Clothing chain Postie Plus is lining up to talk with its bankers again because problems with its outsourced distribution facility in Mangere have it facing a big annual loss this year and putting it foul of the terms of its loan. More >>
NZ terms of trade sink to 3-year low as dairy prices fall
Friday, 1 March 2013, 11:43 am | BusinessDesk
NZ terms of trade sink to 3-year low as dairy prices fall for 6th straight quarter More >>
Postie Plus in talks with banks as losses widen; shares drop
Friday, 1 March 2013, 10:04 am | BusinessDesk
March 1 (BusinessDesk) - Postie Plus Group, which last year avoided breaching its banking covenants, is in talks with its banks again after posting a wider first-half on dwindling sales and thinner margins and bracing for an annual loss. The shares ... More >>
Vector can withstand impact of regulator’s price ruling
Friday, 1 March 2013, 9:59 am | BusinessDesk
March 1 (BusinessDesk) – Price cuts imposed by the Commerce Commission are negative for Vector though the gas distribution network owner has enough of a cushion to ensure its credit rating doesn’t need to be cut, says Moody’s Investors Service. More >>
Transpower returns to 1H profit, earnings margin beats SCI
Friday, 1 March 2013, 9:26 am | BusinessDesk
March 1 (BusinessDesk) - State-owned national electricity grid operator Transpower returned to a first-half profit after taking a smaller unrealised hit on its financial instruments than a year earlier, and its earnings margins are tracking ahead of its ... More >>
NZ dollar falls back below 83 cents as commodities slip
Friday, 1 March 2013, 9:16 am | BusinessDesk
March 1 (BusinessDesk) – The New Zealand dollar slipped back below 83 US cents after US growth figures came in lower than economists were expecting, weighing on commodities. The International Monetary Fund said it may cut its US forecast if spending ... More >>
From the Farm: Sunny Skies
Friday, 1 March 2013, 8:38 am | BusinessDesk
The drought has crept up on us city slickers, at the beach or sitting under a tree with a cool drink. There’s been little rain in Wellington in recent weeks but the inconvenience typically only runs to restrictions on the use of sprinklers. Many ... More >>
While you were sleeping: IMF warns on US growth
Friday, 1 March 2013, 7:44 am | BusinessDesk
March 1 (BusinessDesk) – Wall Street advanced, with gains tempered by expectations that Congress will not act to stop automatic federal spending cuts that are widely expected to put the brakes on the pace of expansion in the world's largest economy. More >>
Turners & Growers narrows 1H loss, writes down orchards
Thursday, 28 February 2013, 6:38 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Turners & Growers, the fruit marketer controlled by Germany's BayWa Aktiengellschaft, narrowed its first-half loss after taking another writedown on the value of its kiwifruit orchards from the outbreak of Psa vine bacteria ... More >>
CORRECT: TVNZ 1H profit drops 26%, online revenues grow
Thursday, 28 February 2013, 6:25 pm | BusinessDesk
Feb. 28 (BusinessDesk) - State-owned broadcaster Television New Zealand's earnings after tax for the six months to Dec. 31 fell 26 percent to $14.2 million as advertising revenues fell and the network spent an extra $10.5 million buying programmes, including ... More >>
MARKET CLOSE: NZ shares rise to new 5-yr high; Air NZ jumps
Thursday, 28 February 2013, 6:01 pm | BusinessDesk
Feb. 28 (BusinessDesk) – New Zealand shares rose to a new five-year high as investors cheered Air New Zealand’s profit growth and Fletcher Building pushed back above $9. More >>
Methven profit down on weak Australian trading,
Thursday, 28 February 2013, 5:52 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Methven, the tapware maker whose board agreed to link director fee increases to earnings growth, has lowered its expected annual profit on weak trading across the Tasman and costs arising from a potential purchase. More >>
Solid Energy, cruise ship losses pull Port of Lyttelton down
Thursday, 28 February 2013, 5:50 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Christchurch city's Port of Lyttelton turned in a 16.5 percent reduction in profit for the half year to Dec. 31, largely reflecting reduced coal export volumes from troubled state-owned coal miner Solid Energy and the loss of ... More >>
