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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 1210]
Fonterra affirms forecast payout, issues bonus shares
Wednesday, 27 February 2013, 9:06 am | BusinessDesk
Feb. 27 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, has held its forecast farmgate payment on expectations of higher global prices in the second half of the season, and wants to grow its winter milk supply, meaning ... More >>
NZ dollar falls below 83 cts, through key support, on Italy
Wednesday, 27 February 2013, 8:53 am | BusinessDesk
Feb. 27 (BusinessDesk) – The New Zealand dollar fell below 83 US cents and breached a key technical support level on fears the inconclusive Italian election could herald a return to populist, anti-EU policy, which could spread to other indebted nations ... More >>
While you were sleeping: Bernanke signals support
Wednesday, 27 February 2013, 7:41 am | BusinessDesk
Feb 27 (BusinessDesk) – US Federal Reserve chief Ben Bernanke and the latest economic data provided the right mix for investors – further stimulus to underpin an accelerating recovery. More >>
MARKET CLOSE: NZ shares gain; OceanaGold, Trade Me rise
Tuesday, 26 February 2013, 6:08 pm | BusinessDesk
Feb. 26 (BusinessDesk) – New Zealand shares rose as OceanaGold bounced back on optimism it will resolve a tax dispute in the Philippines and auction Trade Me gained to a record. More >>
Treasury hires Goldman Sachs to run ruler over KiwiBank
Tuesday, 26 February 2013, 5:22 pm | BusinessDesk
Feb. 26 (BusinessDesk) – The Treasury hired Goldman Sachs to run the ruler over state-owned KiwiBank and its future capital needs. More >>
NZ dollar falls on threat of hung Italian parliament
Tuesday, 26 February 2013, 5:21 pm | BusinessDesk
Feb. 26 (BusinessDesk) - The New Zealand dollar fell as the threat of a hung Italian parliament eroded investor confidence, and reignited fears Europe may be in for another sovereign debt scare. More >>
NZ inflation expectations slow in RBNZ survey
Tuesday, 26 February 2013, 4:47 pm | BusinessDesk
Feb. 26 (BusinessDesk) - New Zealand's expected pace of inflation over the coming two years has slowed down from the start of the year, though unemployment is still picked as staying relatively high, according to the latest central bank survey. More >>
Northland Port 1H profit rises 15% on increased log volumes
Tuesday, 26 February 2013, 12:59 pm | BusinessDesk
Feb. 26 (BusinessDesk) – Northland Port, the investment company that owns half of Northport, reported a 15 percent increase in first-half profit on increased export log volumes across the wharves at Marsden Point. More >>
CORRECT: Delegat’s lifts first-half profit by 31%
Tuesday, 26 February 2013, 12:27 pm | BusinessDesk
CORRECT: Delegat’s lifts first-half profit, selling more wine while keeping expenses in check More >>
MONEY TALKS: Ringing the changes Telecom
Tuesday, 26 February 2013, 12:21 pm | BusinessDesk
You don't have to be an avid reader of the business pages to have an opinion on Telecom. In fact it's probably better for your blood pressure if you don't. More >>
MIDDAY UPDATE: Carmel Fisher the first lady of fundies
Tuesday, 26 February 2013, 12:08 pm | BusinessDesk
Feb. 26 (BusinessDesk) - High profile fund manager Carmel Fisher has cemented her spot as first lady of funds management with her firm, Fisher Funds, buying Tower's funds management business for $79 million. More >>
UPDATE: Fisher Funds clients face lower fees from Tower buy
Tuesday, 26 February 2013, 11:35 am | BusinessDesk
Feb. 26 (BusinessDesk) - Fisher Funds expects its customers to share the benefits of a larger business in the form of cheaper fees, having stitched up a deal to buy insurer Tower's investment business for $79 million. More >>
Genesis Energy chair Shipley stonewalls on Mainzeal role
Tuesday, 26 February 2013, 10:59 am | BusinessDesk
Feb. 26 (BusinessDesk) - Former Prime Minister Jenny Shipley stonewalled questions about her suitability to remain chair of state-owned power company Genesis Energy after resigning her chairmanship of Mainzeal companies just before the country's ... More >>
Delegat’s lifts 1H profit; sells more wine, cuts costs
Tuesday, 26 February 2013, 9:46 am | BusinessDesk
Feb. 26 (BusinessDesk) – Delegat’s Group lifted first-half profit by 31 percent after increasing sales of wine in North America and Europe and keeping expenses in check. More >>
Genesis Energy produces tidy first-half result, NPAT up 85%
Tuesday, 26 February 2013, 9:45 am | BusinessDesk
Feb. 26 (BusinessDesk) - Genesis Energy has turned in a tidy-looking result for the six months to Dec 31, with net profit after tax up 85 percent to $71 million as the company benefits from lower interest and depreciation costs, and low wholesale electricity ... More >>
Fisher Funds tops $5B buying Tower funds for $79M with TSB
Tuesday, 26 February 2013, 9:13 am | BusinessDesk
Fisher Funds tops $5B, buying Tower Investments for $79M with help from new shareholder TSB More >>
NZ dollar gains vs. euro on divided Italian parliament
Tuesday, 26 February 2013, 8:42 am | BusinessDesk
Feb. 26 (BusinessDesk) – The New Zealand dollar rose against the euro on signs of a hung parliament in Italy and tumbled against the yen as Japan’s currency broadly recovered from a sell-off sparked by speculation over the next Bank of Japan governor. More >>
While you were sleeping: Parliament split for Italy?
Tuesday, 26 February 2013, 7:41 am | BusinessDesk
Feb 26 (BusinessDesk) – Wall Street declined amid early indications that the outcome of Italian elections calls into question the European Union's ability to lift itself from the sovereign debt crisis and recession. More >>
Govt blocked grandiose Solid Energy plans in 2009
Monday, 25 February 2013, 7:01 pm | BusinessDesk
Feb. 25 (BusinessDesk) - The government blocked proposals in 2009 from its coal mining company Solid Energy for a billion dollar capital injection to allow it to become "the Petrobras of this country," Prime Minister John Key says. More >>
MARKET CLOSE: NZ shares gain on Summerset earnings
Monday, 25 February 2013, 5:41 pm | BusinessDesk
Feb. 25 (BusinessDesk) – New Zealand shares rose, led by Summerset Group after the retirement village operator beat its IPO targets by tripling full-year earnings and raising its dividend. Chorus and Heartland New Zealand both fell after posting ... More >>
