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 1217]
ANZ New Zealand 1Q profit sinks 25% as margins soften
Friday, 15 February 2013, 10:28 am | BusinessDesk
Feb. 15 (BusinessDesk) - ANZ New Zealand, the country's biggest lender, reported a 25 percent fall in first-quarter profit as the local unit of Australia & New Zealand Banking Group recorded softer margins, even as it grabbed more market share. More >>
Steel & Tube 1H profit rises 14%, sees stronger second half
Friday, 15 February 2013, 10:27 am | BusinessDesk
Feb. 15 (BusinessDesk) – Steel & Tube Holdings, the building products firm whose majority shareholder exited its holding in October, posted a 14 percent gain in first-half profit and expects second half results to exceed those in the first ... More >>
Hallenstein 1H profit climbs 15% on 'robust' NZ sales
Friday, 15 February 2013, 9:42 am | BusinessDesk
Feb. 15 (BusinessDesk) - Hallenstein Glasson, which runs the clothing chains that make up its name, lifted first-half profit 15 percent with a "robust" sales period in New Zealand. More >>
Michael Hill 1H earnings rise on Australian gains
Friday, 15 February 2013, 9:39 am | BusinessDesk
Feb. 15 (BusinessDesk) - Michael Hill International, the jewellery chain that bears its founder's name, posted a 5.9 percent gain in first-half profit on Australian sales growth and said it is still battling tax departments on both sides of the Tasman ... More >>
NZ Super Fund sells 7.6% of Auckland Airport, raising $276M
Friday, 15 February 2013, 9:32 am | BusinessDesk
NZ Super Fund sells 7.6% of Auckland Airport at 6.1% discount, raising $276 mln More >>
NZ dollar breaks above 85 US cents before retail sales
Friday, 15 February 2013, 8:55 am | BusinessDesk
NZ dollar breaks above 85 US cents; retail sales may add to string of strong data More >>
While you were sleeping: Ketchup's tasty valuation
Friday, 15 February 2013, 7:55 am | BusinessDesk
Feb 15 (BusinessDesk) – Optimism about equity valuations following a surprise takeover of HJ Heinz was tempered by reports showing economies in Europe and Japan were weaker than expected. More >>
Supreme Court to ignore government deadline
Thursday, 14 February 2013, 11:50 pm | BusinessDesk
Feb 14 (BusinessDesk) - Government hopes of a decision from the Supreme Court by next Monday on the New Zealand Maori Council's appeal to halt partial privatisation of MightyRiverPower will not be met, the Maori Council says. More >>
Independent Liquor sellers plan counter-suit vs. Asahi
Thursday, 14 February 2013, 8:47 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Buyout firms Pacific Equity Partners and Unitas Capital plan to retaliate against Asahi's suit over Independent Liquor's $1.5 billion price tag with their own proceedings, this time in New Zealand. More >>
MARKET CLOSE: NZ shares rise; Fletcher, Kathmandu gain
Thursday, 14 February 2013, 6:09 pm | BusinessDesk
Feb. 14 (BusinessDesk) – New Zealand shares rose as early signs the earnings season is tracking ok lifted shares such as Fletcher Building. Pumpkin Patch led retailers exposed to the Australian market. More >>
NZ dollar gains after manufacturing, consumer confidence
Thursday, 14 February 2013, 5:16 pm | BusinessDesk
Feb. 14 (BusinessDesk) - The New Zealand dollar rose to a 10-day high against the greenback after manufacturing and consumer confidence surveys painted a more optimistic picture of the local economy, and reminded investors by they've had a strong appetite ... More >>
From the Farm: Wool matters
Thursday, 14 February 2013, 3:46 pm | BusinessDesk
It has been an odious two years for Wool Services International (WSI) since what it must have thought were rock-solid majority shareholders Woolpak Holdings and Plum Duff, controlled by Allan Hubbard, were placed in receivership. More >>
ACC on track to self-fund by 2019, setting up lower levies
Thursday, 14 February 2013, 2:45 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Accident Compensation Corp, whose board and executives were purged last year in the fallout of major privacy breaches, is on track to fully-fund its accident coverage, paving the way for significant and long-term cuts in future ... More >>
Govt sets up Napier-Gisborne rail line task force
Thursday, 14 February 2013, 1:59 pm | BusinessDesk
Feb. 14 (BusinessDesk) - A joint task force between the central government and the local governments of the North Island east coast's Tairawhiti region will look at future transport infrastructure needs, Transport and Economic Development Ministers ... More >>
Happy southerners push NZ consumer confidence to 32-mth high
Thursday, 14 February 2013, 1:59 pm | BusinessDesk
Feb. 14 (BusinessDesk) – New Zealand consumers are the most confident they’ve been in 32 months and the happiest citizens live in the South Island, according to the ANZ-Roy Morgan NZ consumer confidence survey for February. More >>
Janes' ACC post untainted by Capital + Merchant failure
Thursday, 14 February 2013, 1:58 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Former Capital + Merchant Finance director Trevor Janes passed the smell-test on his appointment to head the Accident Compensation Corp board's investment committee after officials had a look at it. More >>
NZ Post cuts 100 jobs from Datamail, 70 in Wellington
Thursday, 14 February 2013, 1:28 pm | BusinessDesk
Feb. 14 (BusinessDesk) - New Zealand Post became the latest major employer to announce job cuts as it closes its Datamail centre in Petone, Wellington, at the cost of 70 jobs, and axes 30 jobs in Auckland. More >>
MIDDAY UPDATE: Asahi sues of Independent Liquor price tag
Thursday, 14 February 2013, 12:39 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Japanese drinks giant Asahi is suing private equity firms Pacific Equity Partners and Unitas Capital over the $1.5 billion price tag put on Independent Liquor in 2011. More >>
Asahi sues over $1.5 bln Independent Liquor price tag
Thursday, 14 February 2013, 12:22 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Japanese drinks giant Asahi has filed papers in the Federal Court of Australia in Melbourne over the $1.5 billion price tag on its Independent Liquor purchase from private equity firms Pacific Equity Partners and Unitas Capital. More >>
NZ food prices rise 1.9%, first gain in 5 months
Thursday, 14 February 2013, 11:14 am | BusinessDesk
NZ food prices rise 1.9%, first gain in 5 months, on fruit, veges, groceries More >>
