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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 1216]
Freightways 1H profit rises 11% to record, meeting estimates
Monday, 18 February 2013, 11:24 am | BusinessDesk
Feb. 18 (BusinessDesk) – Freightways, the courier and data management company, posted an 11 percent gain in first-half profit to a record, meeting estimates, and said the outlook is for a slow pace of growth. More >>
NZX full-year profit falls 32% on one-time costs; sales rise
Monday, 18 February 2013, 10:04 am | BusinessDesk
Feb. 18 (BusinessDesk) – NZX, the stock exchange operator, posted a 32 percent decline in full-year profit as one-time costs contributed to expenses growing faster than sales. More >>
Property for Industry earnings fall 7.5%; upbeat on 2013
Monday, 18 February 2013, 9:43 am | BusinessDesk
Feb 18 (BusinessDesk) - Property for Industry, the listed industrial property investor, reported a 7.5 percent fall in annual earnings as the company rejigged its portfolio with some asset sales and dealt with vacancies in the year, though management is ... More >>
NZ dollar eases from highs vs. pound, on TWI as data ebbs
Monday, 18 February 2013, 9:07 am | BusinessDesk
Feb. 18 (BusinessDesk) – The New Zealand dollar fell from record highs on a trade-weighted basis and against the pound on speculation it may have run too hard after a string of strong economic figures. More >>
World Week Ahead: More FX volatility ahead
Monday, 18 February 2013, 7:04 am | BusinessDesk
Feb. 18 (BusinessDesk) – Economic growth worldwide, deemed "still too weak", remained a key concern at a two-day meeting of Group of 20 finance ministers and central bank governors, which stopped short of asking countries to refrain from targeting ... More >>
MARKET CLOSE: NZ shares drop as investors raise cash for AIA
Friday, 15 February 2013, 5:44 pm | BusinessDesk
Feb. 15 (BusinessDesk) – New Zealand shares dropped, led by Auckland International Airport as institutions sold shares to participate in the selldown of the nation’s busiest gateway. Hallenstein Glasson and Steel & Tube both gained after posting ... More >>
NZ dollar hits post-float high on TWI as retail sales jump
Friday, 15 February 2013, 5:10 pm | BusinessDesk
Feb. 15 (BusinessDesk) - The New Zealand dollar jumped to a post-float high on a trade-weighted basis and is poised for a 1.7 percent weekly gain after better-than-expected retail sales gave investors yet another reason to buy the local currency. More >>
Cavalier 1H profit drops 59% on high wool price, weak demand
Friday, 15 February 2013, 4:59 pm | BusinessDesk
Cavalier 1H profit drops 59%; weak carpet market forces it to absorb high wool prices More >>
MONEY TALKS: Here's to you Mr Robinson - Rakon's rise & fall
Friday, 15 February 2013, 4:04 pm | BusinessDesk
If you became a stock watcher this year it would probably surprise you that Rakon, which makes GPS components among other things, was voted the top hi-tech company of the decade just two years ago. More >>
APN News shares halted on report INM seeks CEO’s ouster
Friday, 15 February 2013, 1:31 pm | BusinessDesk
Feb. 15 (BusinessDesk) – Shares of APN News & Media were halted after the Irish Independent newspaper reported that 28.95 percent owner Independent News & Media has called for the resignation of chief executive and director Brett Chenoweth. More >>
MIDDAY UPDATE: Kiwi Dollar soars as retail sales surge
Friday, 15 February 2013, 12:41 pm | BusinessDesk
Feb. 15 (BusinessDesk) - The New Zealand dollar rose to a post-float high on a trade-weighted basis after retail sales surged beyond economists' expectations in the last three months of 2012. More >>
No decision on specific asset sales, Infratil says
Friday, 15 February 2013, 12:40 pm | BusinessDesk
Feb. 15 (BusinessDesk) – Infratil and its manager Morrison & Co say no decision has been made to sell specific assets such as Z Energy of its NZ Bus unit. More >>
CORRECT: NZ 4Q retail sales up 2.1%, TWI at post-float high
Friday, 15 February 2013, 12:29 pm | BusinessDesk
(Corrects to show trade-weighted index at post float high in first and third paragraphs) Feb. 15 (BusinessDesk) – New Zealand retail sales recorded the fastest growth in six years in the fourth quarter, adding to signs of a rebound in consumer spending ... More >>
MightyRiver strikes out alone on global geothermal projects
Friday, 15 February 2013, 12:05 pm | BusinessDesk
Feb. 15 (BusinessDesk) - State-owned electricity company MightyRiverPower is dissolving a five-year-old investment partnership in American and German geothermal developments, taking 100 percent control of development opportunities in Chile and a 20 percent ... More >>
Horizon Energy cuts guidance by further $2.9M on Mainzeal
Friday, 15 February 2013, 12:02 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Eastern Bay of Plenty lines company Horizon Energy has cut its annual profit forecast by $2.9 million on its exposure to the collapse of Mainzeal Property and Construction, just four days after trimming its guidance. More >>
UPDATE: ANZ New Zealand 1Q profit sinks 25%
Friday, 15 February 2013, 11:47 am | BusinessDesk
Feb. 15 (BusinessDesk) - ANZ New Zealand, the country's biggest lender, reported a 25 percent fall in first-quarter profit as the value of the bank's hedging derivatives return to more normal levels, and as interest margins softened. More >>
Hubbard Management investors to recover entire principal
Friday, 15 February 2013, 11:32 am | BusinessDesk
Feb. 15 (BusinessDesk) - Investors in the frozen Hubbard Management Funds will get all of their capital back, though anyone who's already been paid more than what they put in won't get anything more. More >>
NZ retail sales grow 2.1% in fourth-quarter; kiwi flies
Friday, 15 February 2013, 11:26 am | BusinessDesk
NZ retail sales grow 2.1% in fourth-quarter, sending kiwi to new 5-year high More >>
OceanaGold full year profit falls, despite Q4 uplift
Friday, 15 February 2013, 10:51 am | BusinessDesk
Feb. 15 (BusinessDesk) - OceanaGold Corp's after-tax profit for the 2012 calendar year more than halved from the previous year despite a 55 percent increase in gold production in the fourth quarter compared to the previous three months to Sept. 30. More >>
Capital + Merchant fraudsters plead guilty to FMA charges
Friday, 15 February 2013, 10:49 am | BusinessDesk
Feb. 15 (BusinessDesk) – Convicted Capital + Merchant fraudsters Wayne Douglas and Neal Nicholls have pleaded guilty to Securities Act charges of making untrue statements in offer documents laid by the Financial Markets Authority. More >>
