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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 1257]
NZ dollar holds near 81 US cents as fiscal cliff talks loom
Friday, 16 November 2012, 5:06 pm | BusinessDesk
Nov. 16 (BusinessDesk) – The New Zealand dollar traded at just above 81 US cents, having weakened this week as global risk aversion evaporated and stock markets weakened, while traders are awaiting any early news on the US fiscal cliff talks. More >>
NZ population at 15M would spur export success: NZIER
Friday, 16 November 2012, 3:57 pm | BusinessDesk
Nov 16 (BusinessDesk) - New Zealand exports are more likely to grow if governments target a population of 15 million by 2060 than by creating arbitrary targets for export growth, says the New Zealand Institute of Economic Research in a paper for ... More >>
From the Farm: Great southern losses
Friday, 16 November 2012, 2:59 pm | BusinessDesk
What do Silver Fern Farms and Alliance Group have in common apart from being meat companies from the great south? They both made losses in the latest year and both admit they paid too much for livestock. More >>
Kathmandu first-quarter sales rise 19.5%
Friday, 16 November 2012, 1:59 pm | BusinessDesk
Nov. 16 (BusinessDesk) - Kathmandu, the outdoor equipment retailer, said first-quarter sales rose more than expected in the first quarter though growth in first-half profit hinges on a successful Christmas and New Year sales period. The shares climbed 4.1 ... More >>
MIDDAY UPDATE: Cavalier cuts FY earnings guidance
Friday, 16 November 2012, 12:12 pm | BusinessDesk
Nov. 16 (BusinessDesk) – Shares of Cavalier dropped 6.3 percent after the carpet manufacturer cut its full-year earnings guidance after a slow start in the first quarter and demand in the Australian market that didn’t recover as expected. More >>
Cavalier cuts FY earnings guidance after slow start to year
Friday, 16 November 2012, 10:55 am | BusinessDesk
Nov. 16 (BusinessDesk) - Cavalier, the carpet manufacturer, cut its full-year earnings guidance after a slow start in the first quarter and demand in the Australian market that didn’t recover as expected. The shares dropped 3.4 percent. More >>
NZ dollar extends slide as equity markets weaken
Friday, 16 November 2012, 9:07 am | BusinessDesk
Nov. 16 (BusinessDesk) - The New Zealand dollar weakened against the greenback as global equity markets extended their slide and data showed the euro zone economy continues to shrink, eroding the appeal of growth linked assets such as the kiwi. More >>
While you were sleeping: Wal-Mart, euro-zone trouble
Friday, 16 November 2012, 7:40 am | BusinessDesk
Nov 16 (BusinessDesk) – The silver lining proved yet again hard to find today as Wal-Mart's profit outlook disappointed and the euro-zone economy fell into recession. More >>
Freshwater report a 'once in a generation' opportunity
Thursday, 15 November 2012, 6:51 pm | BusinessDesk
Nov 15 (BusinessDesk) - The Land and Water Forum's final report on new ways to allocate freshwater is a "once in a generation opportunity", its chair, Alastair Bisley, said as the report was released to a careful welcome by government Ministers, ... More >>
Supreme Court sides with ComCom in Vector stoush
Thursday, 15 November 2012, 5:43 pm | BusinessDesk
Nov 15 (BusinessDesk) - Auckland electricity and gas network owner Vector has lost its final appeal against the way the Commerce Commission set starting prices for the new regime regulating prices for its monopoly services. More >>
NZ dollar lifts back above 81 US cents
Thursday, 15 November 2012, 5:19 pm | BusinessDesk
Nov. 15 (BusinessDesk) - The New Zealand dollar traded back up above 81 US cents after falling overnight amid concern about the US fiscal cliff and a flare up in tensions between Israel and the Palestinians. More >>
MARKET CLOSE: NZ shares mixed; Ryman, Diligent up, Xero down
Thursday, 15 November 2012, 5:16 pm | BusinessDesk
Nov. 15 (BusinessDesk) - New Zealand shares were mixed along with the results of companies with a Sept. 30 balance date. Ryman Healthcare and Diligent Board Member Services rose as investors cheered their results, while Xero and Rakon fell after ... More >>
Chinese interest in Fonterra fund ‘predictable’, Feds say
Thursday, 15 November 2012, 3:33 pm | BusinessDesk
Nov. 15 (BusinessDesk) – Chinese interest in investing in Fonterra’s Cooperative Group’s shareholder fund was predictable once the scheme was approved and underlines the need for constitutional protections for the Trading Among Farmers scheme, says ... More >>
KiwiRail can't find Hillside buyer; Foundry sold to Bradken
Thursday, 15 November 2012, 2:49 pm | BusinessDesk
Nov 15 (BusinessDesk) - KiwiRail has failed to find a buyer for its unprofitable Hillside Workshops in Dunedin apart from the foundry operation, which it has conditional agreement to sell to ASX-listed manufacturer Bradken for an undisclosed sum. More >>
Ross Group receivers hold out little hope for missing $439M
Thursday, 15 November 2012, 2:24 pm | BusinessDesk
Nov. 14 (BusinessDesk) - Court-appointed receivers have found records for just $10.2 million of the $449.6 million in investments purportedly managed by Ross Asset Management, a boutique Wellington investment firm run by David Ross, who has been hospitalised ... More >>
NZ consumer confidence gains in November
Thursday, 15 November 2012, 2:02 pm | BusinessDesk
Nov. 15 (BusinessDesk) - New Zealand consumer confidence rose in November, with kiwis feeling more upbeat about the future and more people seeing better times financially over the next 12 months. More >>
MIDDAY UPDATE: Xero shares slip as full-year loss flagged
Thursday, 15 November 2012, 11:55 am | BusinessDesk
Nov. 15 (BusinessDesk) – Shares of Xero, the cloud-based accounting service, fell 2.6 percent after it posted a wider first-half loss and said it would keep spending to build sales after more than doubling its global customer base. The shares dropped ... More >>
Manufacturing sentiment stabilises after 'big wobble'
Thursday, 15 November 2012, 11:23 am | BusinessDesk
Nov. 15 (BusinessDesk) - Bank of New Zealand economists are drawing solace from a move back into positive territory for its closely watched Performance of Manufacturing Index, which was one of the few leading indicators to foreshadow the sharp rise in ... More >>
DNZ Property lifts first half profit on falling expenses
Thursday, 15 November 2012, 10:26 am | BusinessDesk
Nov. 15 (BusinessDesk) – DNZ Property Fund, a diversified property investor, reported rental income that was little changed in the first half, while profit climbed as expenses fell. More >>
Sluggish first half pushes Rakon to $3.96M loss
Thursday, 15 November 2012, 10:24 am | BusinessDesk
Nov. 15 (BusinessDesk) - Smartphone equipment maker Rakon saw its loss for the six months to Sept. 30 widen to $3.96 million, as revenues fell and operating expenses rose during a period of sluggish growth in major markets. More >>
