Scoop has an Ethical Paywall
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 1212]
Sky TV lifts 1H profit 9% as subscribers spend more
Friday, 22 February 2013, 11:25 am | BusinessDesk
Feb. 22 (BusinessDesk) – Sky Network Television, the pay-TV company that’s 44 percent owned by News Corp, reported a 9 percent gain in first-half profit as subscribers migrated to its My Sky premium service and spent more. More >>
Solid Energy's lignite plans dead, related assets for sale
Friday, 22 February 2013, 11:04 am | BusinessDesk
Feb. 22 (BusinessDesk) - State-owned coal miner Solid Energy's plans for a multi-billion dollar new industry based on turning low-grade Southland lignite coal into diesel, fertiliser and burnable briquettes has been abandoned as the company struggles with ... More >>
Telecom 'fast, fair and fearless' restructure on the way
Friday, 22 February 2013, 10:58 am | BusinessDesk
Feb. 22 (BusinessDesk) - Telecom Corp's annual earnings face a material impact from a major overhaul of the business to become a data-driven and mobile-focused telecommunications operator, stripping out more costs and getting away from its old structure. More >>
Vital Healthcare 1H distributable profit rises 44 percent
Friday, 22 February 2013, 10:19 am | BusinessDesk
Feb. 22 (BusinessDesk) – Vital Healthcare, which invests in medical and healthcare properties, lifted distributable profit by 44 percent after completing three add-on building projects at existing Australian sites, boosting rental income. More >>
Metlifecare on track for $60M full-year post-merger cashflow
Friday, 22 February 2013, 10:02 am | BusinessDesk
Feb. 22 (BusinessDesk) - Retirement village operator and aged care provider Metlifecare says it's on track to meet its primary guidance of $60 million full-year operating cashflow after reporting cashflow of $29.2 million excluding interest and acquisition ... More >>
Telecom ekes out gain in 1H earnings as mobile sales rise
Friday, 22 February 2013, 9:30 am | BusinessDesk
Feb. 22 (BusinessDesk) - Telecom Corp, the country's biggest phone company, eked out a 3.7 percent lift in first-half underlying earnings as revenue from its mobile business propped up otherwise disappointing sales. More >>
Diligent sees no need to restate earnings, stock halt lifted
Friday, 22 February 2013, 9:08 am | BusinessDesk
Feb. 22 (BusinessDesk) – Diligent Board Member Services, whose shares have more than doubled in the past 12 months, sees no need to restate earnings after reviewing a report into executive options that may not have complied with its incentive schemes. More >>
NZ dollar falls vs. greenback, yen as risk appetite ebbs
Friday, 22 February 2013, 8:57 am | BusinessDesk
Feb. 22 (BusinessDesk) – The New Zealand dollar declined against the greenback and the yen as equities markets and commodities fell and figures showed the US economy is still growing only weakly. More >>
While you were sleeping: Stocks extend decline
Friday, 22 February 2013, 7:39 am | BusinessDesk
Feb 22 (BusinessDesk) – Wall Street extended losses for a second day amid concern the Federal Reserve's stimulus for the US economy might end sooner than expected, while the latest data on euro zone services and manufacturing output showed a larger-than-expected ... More >>
NZ antitrust regulator clears Hirepool to buy Hirequip
Thursday, 21 February 2013, 6:15 pm | BusinessDesk
Feb. 21 (BusinessDesk) - The Commerce Commission has cleared rental equipment operator Hirepool to buy Hirequip out of receivership, saying the two operate in different sectors and are hindered by their rivals. More >>
Govt won't let Solid Energy fail, eyes banks to share risk
Thursday, 21 February 2013, 5:55 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Solid Energy will remain trading during a "difficult two or three months" while the company, its bankers and the government find a way to keep a smaller, coal-only business alive. More >>
MARKET CLOSE NZ shares drop as earnings disappoint
Thursday, 21 February 2013, 5:53 pm | BusinessDesk
Feb. 21 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 Index to a month-low as Skellerup Holdings and Nuplex Industries missed profit expectations and cut guidance, and Fletcher Building continued its correction following its results ... More >>
NZ dollar extends drop as Asian stock markets fall
Thursday, 21 February 2013, 5:10 pm | BusinessDesk
Feb. 21 (BusinessDesk) - The New Zealand dollar extended its decline as stocks across Asia followed a souring global mood with uncertain elections in Italy and divisions appearing in the Federal Reserve's strategy to buy unlimited bonds. More >>
Solid Energy in talks with banks as finances deteriorate
Thursday, 21 February 2013, 4:24 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Solid Energy, the state-owned coal miner whose chief executive quit this month, is in talks with its banks because of its deteriorating financial position. More >>
From the Farm: A dream of clean streams
Thursday, 21 February 2013, 3:18 pm | BusinessDesk
New Primary Industries Minister Nathan Guy diplomatically said the accord “has seen good results in some areas.” The Environmental Defence Society “noted with concern the slow progress being made in cleaning up our waterways.” More >>
CORRECT: AMP’s NZ FY profit flat, plans to ditch Axa brand
Thursday, 21 February 2013, 3:01 pm | BusinessDesk
Feb. 21 (BusinessDesk) – AMP’s financial services unit in New Zealand reported flat annual earnings as rising insurance claims offset gains in its wealth management businesses. The local unit will stop using the Axa brand from the end of next month. More >>
4G spectrum auction in third quarter, no iwi allocation
Thursday, 21 February 2013, 2:30 pm | BusinessDesk
Feb. 21 (BusinessDesk) - The government will auction allocations for the radio spectrum band being set aside for fourth-generation, or 4G, mobile phones in the third quarter of the year, but won't have a sweetener for iwi. More >>
Ericsson to open manufacturing plant in Wellington
Thursday, 21 February 2013, 2:29 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Swedish telecommunications giant Ericsson is to open a new manufacturing facility in Wellington, helping to offset a wave of job losses announced for the capital in recent weeks. More >>
AMI underpins 40% lift in IAG's New Zealand premium revenue
Thursday, 21 February 2013, 1:25 pm | BusinessDesk
Feb 21 (BusinessDesk) - Insurance Australia Group's $380 million purchase of the beleaguered AMI Insurance helped boost the firm's New Zealand premium revenue by 40 percent in its first half. More >>
APN ends shocker year with more masthead value write-downs
Thursday, 21 February 2013, 12:48 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Beleaguered APN News & Media, the Australasian publisher of the New Zealand Herald, has increased write-downs on the value of goodwill and its newspaper mastheads in its end of year result, to produce a net loss to Dec. ... More >>
