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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 1250]
MARKET CLOSE: NZ shares at new 5-yr high; Sky TV, Tower gain
Thursday, 29 November 2012, 6:03 pm | BusinessDesk
MARKET CLOSE: NZ shares edge up to new 5-year high; Sky TV, Tower gain More >>
NZ dollar gains vs. Oz dollar as business investment slows
Thursday, 29 November 2012, 5:15 pm | BusinessDesk
Nov. 29 (BusinessDesk) - The New Zealand dollar gained against its Australian counterpart after official figures showed business investment is slowing in Australia, which could be a key factor in its central bank interest rate decision next week. The kiwi ... More >>
Pacific Edge widens first-half loss as US roll-out ramps up
Thursday, 29 November 2012, 4:35 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Pacific Edge, which is banking on successfully commercialising its Cxbladder urine testing product, widened its first-half loss as it ramped up spending to set up its business in the US. More >>
Fonterra Australia-NZ boss leaves after regional rejig
Thursday, 29 November 2012, 3:32 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Fonterra Cooperative Group’s Australia New Zealand managing director John Doumani will leave the dairy exporter after the company rejigged its regional boundaries. More >>
NZ business confidence gains as profit outlook improves
Thursday, 29 November 2012, 1:47 pm | BusinessDesk
Nov. 29 (BusinessDesk) - New Zealand business confidence rose this month as firms became more upbeat about the outlook for profits, hiring and investment. Canterbury was the most upbeat region. More >>
MIDDAY UPDATE: Tower flags $120M bonus to shareholders
Thursday, 29 November 2012, 12:12 pm | BusinessDesk
Nov. 29 (BusinessDesk) - Insurer Tower boosted annual profit 67 percent and said it will pay out $120 million to shareholders after selling its medical insurance business. More >>
New Image sees return to annual profit on rising sales
Thursday, 29 November 2012, 12:08 pm | BusinessDesk
Nov. 29 (BusinessDesk) - New Image Group, which makes colostrum-based health tonics, expects a big turnaround in full-year earnings with sales tipped to exceed $100 million, according to chairman Graeme Clegg. More >>
Energy Mad 1H loss widens as quality control damps Oz sales
Thursday, 29 November 2012, 11:42 am | BusinessDesk
Nov. 29 (BusinessDesk) - Energy Mad, which raised $5 million in an initial public offering last year to kick start sales of its energy-efficient light bulbs, widened its first-half loss after quality control issues in manufacturing a halogen bulb ... More >>
Pyne Gould plunges 19 percent to record low on NZ exit plans
Thursday, 29 November 2012, 11:41 am | BusinessDesk
Nov. 29 (BusinessDesk) - Shares in Pyne Gould Corp plunged to a record low after yesterday's annual meeting where chairman Bryan Mogridge told investors the firm will probably quit New Zealand. More >>
Methven 1H profit falls 27%, missing target, on UK loss
Thursday, 29 November 2012, 10:43 am | BusinessDesk
Nov. 29 (BusinessDesk) - Methven, the tapware maker whose board agreed to link directors' fee increases to earnings growth, reported a worse-than-expected 27 percent drop in first-half profit on its unprofitable British operation. More >>
Argosy 1H profit rises 29% on benefits of inhouse manager
Thursday, 29 November 2012, 10:11 am | BusinessDesk
Nov. 29 (BusinessDesk) - Argosy Property, whose shareholders agreed to corporatise the company after buying out its ANZ Bank-owned manager last year, lifted first-half earnings 29 percent as it reaped the benefits of a cheaper cost structure from bringing ... More >>
Tower FY profit jumps 67%, to return $120M to shareholders
Thursday, 29 November 2012, 10:09 am | BusinessDesk
Nov. 29 (BusinessDesk) - Tower, the insurer that’s 34 percent owned by Guinness Peat Group, posted a 67 percent jump in full-year profit and said it will return $120 million to shareholders after the sale of medical insurance business. The shares ... More >>
Sky TV to pay $124.5M special div to distribute tax credits
Thursday, 29 November 2012, 9:42 am | BusinessDesk
Nov. 29 (BusinessDesk) - Sky Network Television, whose long-standing cornerstone shareholder Todd Communications exited this month, will pay a $124.5 million special dividend to shareholders to share its tax credits with investors. More >>
NZ dollar gains as Boehner stokes optimism on fiscal cliff
Thursday, 29 November 2012, 9:02 am | BusinessDesk
Nov. 29 (BusinessDesk) - The New Zealand dollar gained after comments from US House of Representatives Speaker and senior Republican John Boehner stoked optimism policymakers will set aside their differences and bypass the fiscal cliff of US$607 billion in ... More >>
While you were sleeping: Wall Street gains on Boehner view
Thursday, 29 November 2012, 7:45 am | BusinessDesk
Nov. 29 (BusinessDesk) – Stocks on Wall Street reversed earlier losses after U.S. House Speaker and senior Republican John Boehner said he was optimistic that a deal could be reached to head off the looming fiscal cliff. More >>
IRD gets to keep $127.5M GST payment from forest sale
Wednesday, 28 November 2012, 5:57 pm | BusinessDesk
Nov. 28 (BusinessDesk) - The Supreme Court has upheld the Inland Revenue Department's bid to keep $127.5 million goods and services tax on the 2003 sale of 170,000 hectares of central North Island forestry. More >>
MARKET CLOSE: NZ shares edge up to new 5-year high
Wednesday, 28 November 2012, 5:49 pm | BusinessDesk
MARKET CLOSE: NZ shares edge up to new 5-year high; Air NZ confirms guidance More >>
NZ dollar little changed; traders fret about US fiscal cliff
Wednesday, 28 November 2012, 5:18 pm | BusinessDesk
Nov. 28 (BusinessDesk) - The New Zealand dollar was little changed in local trading as investors worry about US legislators' ability to prevent US$607 billion of tax hikes and spending cuts from kicking in next year, and ahead of Australian capital ... More >>
Pyne Gould eyes 15% returns over 10 yrs, won't pay dividends
Wednesday, 28 November 2012, 5:03 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Pyne Gould Corp, which sold its corporate trust unit September, is seeking returns of more than 15 percent over the next decade and doesn't expect to ever pay dividends, according to chairman Bryan Mogridge. More >>
Rangatira 1H profit falls 39%, cites Contract Resources
Wednesday, 28 November 2012, 4:21 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Rangatira, the Wellington-based investor that is adding the Rainbow’s End theme park to its portfolio, reported a 39 percent decline in first-half earnings, reflecting the ‘lumpy’ timing of work at its half-owned ... More >>
