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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 1211]
NZ dollar pares loss vs. euro on Italian election
Monday, 25 February 2013, 5:37 pm | BusinessDesk
Feb. 25 (BusinessDesk) - The New Zealand dollar pared losses against the euro in the local session as investors mull the make-up of Italy's Parliament in the first election since the global financial crisis saw the installation of technocrat executive. More >>
OceanaGold says Philippine trucks detained over tax dispute
Monday, 25 February 2013, 4:57 pm | BusinessDesk
Feb. 25 (BusinessDesk) – OceanaGold said transportation of copper-gold concentrate from its Didipio Mine in Luzon, the Philippines, has been temporarily suspended after authorities detained its trucks over a tax dispute. More >>
NZ Dollar Outlook: Kiwi may fall amid Italian election, Fed
Monday, 25 February 2013, 3:05 pm | BusinessDesk
Feb. 25 (BusinessDesk) – The New Zealand dollar may fall in a week when the Italian election outcome, testimony by Federal Reserve chairman Ben Bernanke and the appointment of a new Bank of Japan governor loom as the biggest event risks. More >>
SMELLIE ON SME's: How to think about all these job cuts
Monday, 25 February 2013, 3:04 pm | BusinessDesk
Feb 25 (BusinessDesk) - Think back a month to before the latest corporate earnings season. There was a palpable sense of optimism that 2013 was shaping up to be a better year than any of the last four. More >>
Taxman comes calling on Allied Farmers for $3.7M
Monday, 25 February 2013, 1:56 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Penny-dreadful stock Allied Farmers is teetering closer to the abyss after the Inland Revenue Department issued a statutory demand for $3.7 million in outstanding debt and adding another default event to the failed finance ... More >>
Heartland's Marac refunds $567k of loan repayment insurance
Monday, 25 February 2013, 1:16 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Heartland New Zealand's Marac Finance unit, which was one of three lenders which merged to create Heartland, has refunded more than half a million dollars over unpaid loan repayment insurance rebates in a settlement with ... More >>
MIDDAY UPDATE: Meridian ready for privatisation
Monday, 25 February 2013, 12:45 pm | BusinessDesk
Feb. 25 (BusinessDesk) - State-owned power company Meridian Energy is ready for the government to sell down its holding, after reporting a small decline in first-half earnings. More >>
Chorus shares fall as UFB costs grow, talks to Crown Fibre
Monday, 25 February 2013, 12:28 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Shares in Chorus dropped 2 percent after the telecommunications network operator spun out of Telecom signalled the cost of building a nationwide ultrafast broadband network has increased by some $300 million. More >>
Heartland NZ lifts 1H profit by 9.2% on improved margins
Monday, 25 February 2013, 11:27 am | BusinessDesk
Heartland NZ lifts 1H profit by 9.2% on improved retail, business and rural earnings More >>
Summerset more than triples FY profit
Monday, 25 February 2013, 10:19 am | BusinessDesk
Feb. 25 (BusinessDesk) - Summerset Group, the retirement village operator and developer, more than tripled its net profit, beating the forecast from its 2011 prospectus, and will pay a bigger dividend than what analysts were picking. More >>
NZ Post 1H earnings saved by KiwiBank, courier services
Monday, 25 February 2013, 10:18 am | BusinessDesk
NZ Post first-half earnings saved by KiwiBank, courier services as mail’s slide continues More >>
Meridian sees strong 2nd half after testing first six months
Monday, 25 February 2013, 9:44 am | BusinessDesk
Feb 25 (BusinessDesk) - Meridian Energy says it's ready for partial privatisation and expects a significant uplift in operating earnings in the second half after transmission outages and heavy rainfall knocked its performance in the six months to Dec. 31. More >>
Chorus 1H earnings meet estimates, UFB seen costing more
Monday, 25 February 2013, 9:42 am | BusinessDesk
Feb. 25 (BusinessDesk) - Chorus, the telecommunications network operator spun out by Telecom at the end of 2011, met analyst expectations for its first-half earnings, while raising the forecast cost of building a nationwide ultra-fast broadband network ... More >>
Chorus 1H earnings meet estimates, UFB seen costing more
Monday, 25 February 2013, 9:34 am | BusinessDesk
Feb. 25 (BusinessDesk) - Chorus, the telecommunications network operator spun out by Telecom at the end of 2011, met analyst expectations for its first-half earnings, while raising the forecast cost of building a nationwide ultra-fast broadband network ... More >>
APN News heading to court over $48M tax dispute with IRD
Monday, 25 February 2013, 9:26 am | BusinessDesk
Feb. 25 (BusinessDesk) – APN News & Media is heading to the High Court over a $48 million tax claim after failing to convince the Inland Revenue Department that its deductions for interest claimed on certain financing transactions was correct. More >>
NZ dollar gains vs. yen, pound on BOJ report, UK rate cut
Monday, 25 February 2013, 8:56 am | BusinessDesk
Feb. 25 (BusinessDesk) – The New Zealand dollar rose against the yen on reports the favoured candidate for Bank of Japan governor is the most aggressive in terms of reviving the world’s No. 3 economy. The kiwi gained against the British pound ... More >>
World Week Ahead: Italy votes, Bernanke speaks
Monday, 25 February 2013, 5:50 am | BusinessDesk
Feb. 25 (BusinessDesk) – Italian elections, another US budget deadline and Federal Reserve Chairman Ben Bernanke's testimony to Congress will form the focus of the coming week. More >>
MARKET CLOSE: Investors like Telecom, Contact job cuts
Friday, 22 February 2013, 6:17 pm | BusinessDesk
Feb. 22 (BusinessDesk) – New Zealand equities stormed past 2,200 on the NZX50 Index, recovering ground lost since mid-January despite a mixed first full week of corporate earnings as Telecom Corp became the latest big corporate to announce big job cuts. More >>
Ports of Auckland 1H profit falls 17% on container drop
Friday, 22 February 2013, 12:59 pm | BusinessDesk
Feb. 22 (BusinessDesk) – Ports of Auckland, whose operations have been disrupted by a drawn-out industrial dispute that scared off customers, posted a 17 percent decline in first-half profit on reduced container volumes and an absence of year-earlier ... More >>
MIDDAY UPDATE: "Fast, fair, fearless" Telecom rejig looms
Friday, 22 February 2013, 11:52 am | BusinessDesk
Feb. 22 (BusinessDesk) - Telecom Corp staff face a "fast, fair, fearless" restructure to reflect its future as a retailer rather than a network owner and to improve its profitability after announcing a 3.7 percent increase in operating earnings ... More >>
