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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 1222]
While you were sleeping: Walt Disney, Time Warner gain
Thursday, 7 February 2013, 7:23 am | BusinessDesk
Feb 7 (BusinessDesk) – Investors applauded the earnings and outlooks of Walt Disney and Time Warner, yet Wall Street failed to find momentum amid renewed concern about Europe's ability to commit to the austerity required to kick-start the region's economy. More >>
Leaky buildings, Chinese supply botch fell Mainzeal
Wednesday, 6 February 2013, 7:36 pm | BusinessDesk
Feb 6 (BusinessDesk) - One of New Zealand's best-known commercial construction firms, Mainzeal, placed its operating business in receivership as a combination of leaky homes suits and a botched supply chain from China combined to take the company down. More >>
While you were sleeping: Dell deal helps restore mood
Wednesday, 6 February 2013, 7:49 am | BusinessDesk
Feb 6 (BusinessDesk) – Equities advanced on both sides of the pond as a deal led by Michael Dell to take Dell private and a potential bid by Liberty Global for Virgin Media underpinned confidence in stock valuations. More >>
Dairy prices rise 2.4% in 1st GDT sale since DCD scare
Wednesday, 6 February 2013, 7:42 am | BusinessDesk
Feb. 6 (BusinessDesk) - Prices of dairy products rose in Fonterra's latest GlobalDairyTrade auction, the first since news emerged last month that small traces of a nitrate inhibitor had been found in some of the company’s milk powder. More >>
MARKET CLOSE: NZ shares fall with Wall St; Fletcher drops
Tuesday, 5 February 2013, 6:04 pm | BusinessDesk
Feb. 5 (BusinessDesk) – New Zealand shares fell following a selloff on Wall Street and as investors pondered whether the looming earnings season will show results that warrant high stock prices. Telecom and Fletcher Building led the slide. More >>
RBA keeps key rate at 3%, sees scope for future cut
Tuesday, 5 February 2013, 5:23 pm | BusinessDesk
Feb. 5 (BusinessDesk) – The Reserve Bank of Australia kept its cash rate unchanged at 3 percent as expected and said it sees room to cut interest rates if needed as inflation remains low. More >>
Z Energy in stoush over cost of ETS
Tuesday, 5 February 2013, 5:15 pm | BusinessDesk
Feb. 5 (BusinessDesk) - South Island mining OceanaGold Corp is refusing to pay for diesel it bought from Z Energy, which charged for the fuel based on a higher cost of the emissions trading scheme than the New Zealand-owned company actually pays. More >>
NZ dollar gains vs. Aust after RBA leaves rates unchanged
Tuesday, 5 February 2013, 5:12 pm | BusinessDesk
Feb. 5 (BusinessDesk) - The New Zealand gained against its Australian counterpart after the Reserve Bank of Australia kept interest rates on hold, while leaving a future cut on the table if slowing growth and inflation get out of hand. More >>
Golden State acquires Wellington-based Groenz
Tuesday, 5 February 2013, 3:14 pm | BusinessDesk
Feb. 5 (BusinessDesk) – Golden State Foods, the biggest US supplier of ingredients to fast-food giant McDonald’s, has bought Wellington-based Groenz Group, adding sauces and condiments to a range that includes the original Big Mac sauce. More >>
Guilty pleas from Capital + Merchant's Australian directors
Tuesday, 5 February 2013, 2:33 pm | BusinessDesk
Feb. 5 (BusinessDesk) - Capital + Merchant Finance directors Robert Sutherland and Colin Ryan have both pleaded guilty to charges of making untrue statements in offer documents and will be sentenced in Auckland next month. More >>
Barfoot’s Auckland property listings jump 40%
Tuesday, 5 February 2013, 12:38 pm | BusinessDesk
Feb. 5 (BusinessDesk) – Auckland real estate firm Barfoot & Thompson’s new listings more than doubled in January from December while the average sale price fell, suggesting the city’s overheated property market is luring more sellers. More >>
MIDDAY UPDATE: NZ wages creep higher on Canterbury rebuild
Tuesday, 5 February 2013, 12:11 pm | BusinessDesk
Feb. 5 (BusinessDesk) - New Zealand private sector wages rose 0.5 percent in the last three months of 2011 as the gathering momentum of the Canterbury rebuild underpinned those gains. More >>
NZX cash trading in January jumps 33% from year earlier
Tuesday, 5 February 2013, 11:13 am | BusinessDesk
Feb. 5 (BusinessDesk) - Cash market trades on the NZX jumped by 33 percent in January from the same month last year, driven by share transactions. More >>
NZ labour costs rise 0.5% in 4Q on Canterbury rebuild
Tuesday, 5 February 2013, 10:51 am | BusinessDesk
Feb. 5 (BusinessDesk) - New Zealand labour costs rose in line with expectations in the final three months of 2012 as the gathering pace of Canterbury's reconstruction effort saw the building and construction sector underpin gains. More >>
NZ dollar gains vs. euro on Europe concerns, falls vs. Aust
Tuesday, 5 February 2013, 8:52 am | BusinessDesk
Feb. 5 (BusinessDesk) – The New Zealand dollar rose against the euro as European political reports renewed concerns about the region’s debt crisis and pushed the common currency down from a two-year high against the greenback. More >>
While you were sleeping: Political risks hit sentiment
Tuesday, 5 February 2013, 7:26 am | BusinessDesk
Feb 5 (BusinessDesk) – Stocks on both sides of the Atlantic dropped as concern about Europe's political and financial instability returned, and Wall Street's five-year highs left investors with vertigo in the absence of signs to justify current valuations. More >>
MARKET CLOSE: NZ shares rise, led by Wrightson, NZOG
Monday, 4 February 2013, 5:42 pm | BusinessDesk
Feb. 4 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index back toward its five-year highs, led by PGG Wrightson and NZ Oil & Gas as commodity prices rose and investors continued to be drawn to the relatively attractive dividend ... More >>
NZ dollar hits more-than 2 yr high vs. Australian; RBA looms
Monday, 4 February 2013, 5:22 pm | BusinessDesk
Feb. 4 (BusinessDesk) - The New Zealand dollar rose to a 2 ½-year high against the Australian dollar before the Reserve Bank of Australia’s monetary policy review tomorrow, while largely ignoring Prime Minister John Key’s comment that the kiwi ... More >>
Satara-EastPack merger back on after two-year hiatus
Monday, 4 February 2013, 4:14 pm | BusinessDesk
Feb. 4 (BusinessDesk) - Kiwifruit growers Satara Cooperative Group and EastPack are set to resume merger plans shelved after the outbreak of the Psa vine bacteria two years ago. More >>
NZ Dollar Outlook: Kiwi may extend gain on demand for growth
Monday, 4 February 2013, 2:50 pm | BusinessDesk
Feb. 4 (BusinessDesk) – The New Zealand dollar may extend its gains this week on rallying equity markets, offshore demand for yield and a favourable outlook for the local economy. More >>
