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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 1258]
Ryman Healthcare first-half profit rises 15% to record
Thursday, 15 November 2012, 9:31 am | BusinessDesk
Nov. 15 (BusinessDesk) – Ryman Healthcare, the retirement village operator whose shares jumped 51 percent this year, posted a 15 percent gain in first-half profit and bumped up its dividend as fee income grew. More >>
NZ dollar falls on signs of faltering global growth
Thursday, 15 November 2012, 9:04 am | BusinessDesk
Nov. 15 (BusinessDesk) – The New Zealand dollar fell as weaker economic figures in US and Europe weighed on equity markets and eroded investors’ appetite for riskier, or higher yielding assets. More >>
Huge bio-fuels opportunity from NZ forestry: Pure Advantage
Thursday, 15 November 2012, 7:54 am | BusinessDesk
Nov 14 (BusinessDesk) - New Zealand's plantation forestry estate represents a major opportunity for New Zealand to become more self-sufficient in transport fuels, says the latest report from the Pure Advantage business lobby group seeking support for ... More >>
While you were sleeping: Economic worry prevails
Thursday, 15 November 2012, 7:41 am | BusinessDesk
Nov 15 (BusinessDesk) – Stocks on both sides of the pond fell amid a flurry of disappointing economic data including US retail sales and industrial production in the euro zone, underpinning concern about the outlook for corporate profits. More >>
Xero keeps eye on long game, chasing sales as losses widen
Wednesday, 14 November 2012, 6:19 pm | BusinessDesk
Nov. 14 (BusinessDesk) - Xero, the cloud-based accounting service, posted a wider first-half loss and said it will keep spending to build sales after more than doubling its global customer base. More >>
MARKET CLOSE: NZ shares fall, led by CAV, Goodman Property
Wednesday, 14 November 2012, 5:54 pm | BusinessDesk
Nov. 14 (BusinessDesk) - New Zealand shares fell, led by carpet-maker Cavalier, Kathmandu and Goodman Property Trust after retail sales data underlined the weak state of the economy in the third quarter. Diligent Board Member Services led gainers after posting ... More >>
NZ dollar falls as retail sales point to weak economy
Wednesday, 14 November 2012, 4:33 pm | BusinessDesk
Nov. 14 (BusinessDesk) – The New Zealand dollar fell against most of its trading peers after figures showed a drop in third-quarter retail sales, adding to weak employment numbers in suggesting the economy hit a pothole in the period. More >>
MIDDAY UPDATE: Kiwi dollar drops on shocker retail stats
Wednesday, 14 November 2012, 12:30 pm | BusinessDesk
Nov. 14 (BusinessDesk) - Unexpectedly poor retail trade statistics for the September quarter saw the New Zealand dollar drop sharply this morning as markets digested further signs the country's economy has softened markedly after a stronger than expected ... More >>
English says house price rise unsurprising
Wednesday, 14 November 2012, 12:10 pm | BusinessDesk
Nov 14 (BusinessDesk) - Household incomes have increased by a third in the last four years, while average house prices have risen nationally by only 1.3 percent in the same period, making recent real estate market buoyancy unsurprising, says Finance ... More >>
NZ retail sales unexpected fall in 3Q; kiwi dollar drops
Wednesday, 14 November 2012, 11:13 am | BusinessDesk
Nov. 14 (BusinessDesk) – New Zealand retail sales volumes unexpectedly fell in the third quarter, led by supermarkets and motor vehicles, sending the kiwi dollar lower on speculation the economy is weak enough to warrant a rate cut from the Reserve ... More >>
Kiwi Income 1H pretax earnings fall 16% on drop in rents
Wednesday, 14 November 2012, 10:48 am | BusinessDesk
Nov. 14 (BusinessDesk) - Kiwi Income Property Trust, owner of Auckland’s Sylvia Park Shopping Centre, reported a 16 percent decline in pretax operating earnings in the first half as rental income fell, interest costs rose and it paid a performance ... More >>
Diligent margins expand to 40% in Q3, more to come
Wednesday, 14 November 2012, 9:58 am | BusinessDesk
Nov. 14 (BusinessDesk) - Diligent Board Member Services has posted another stellar quarter of revenue growth for the three months to Sept. 30, marked by an increase in adjusted earnings margins to 40 percent for the first time. More >>
GPG says Coats reorganisation costs to dent 2012 results
Wednesday, 14 November 2012, 9:33 am | BusinessDesk
Nov. 14 (BusinessDesk) - Guinness Peat Group, the investment firm liquidating its portfolio, said it is accelerating its reorganisation of the Coats thread-making business, its biggest asset, which will drive up costs and dent profit this year ... More >>
Goodman Property Trust placement goes without a hitch
Wednesday, 14 November 2012, 9:18 am | BusinessDesk
Nov 14 (BusinessDesk) - Goodman Property Trust reports it successfully placed $60 million of new units with local and offshore investors yesterday, as part of an $80 million equity-raising to help fund the $186.6 million buy-out of an Auckland business ... More >>
NZ dollar gains before retail sales as stock markets rise
Wednesday, 14 November 2012, 9:06 am | BusinessDesk
Nov. 14 (BusinessDesk) - The New Zealand dollar gained before retail sales figures that will provide more evidence of the pace of the economy after surprisingly weak employment figures as stronger equity markets overnight gave a bid tone to the local ... More >>
UN needs greater global economic role, Clark says
Wednesday, 14 November 2012, 8:56 am | BusinessDesk
Nov. 13 (BusinessDesk) - The United Nations needs a greater role in coordinating global economic decisions, with finance ministers attending a beefed up body to ensure not just the largest economies set the agenda, says UN Development Programme chair ... More >>
While you were sleeping: Home Depot brightens outlook
Wednesday, 14 November 2012, 7:22 am | BusinessDesk
Nov 14 (BusinessDesk) – A bright outlook from Home Depot, which lifted its expectations for full-year results, underpinned the mood on Wall Street. More >>
MARKET CLOSE: NZ shares fall; Westpac, Fletcher slip
Tuesday, 13 November 2012, 5:36 pm | BusinessDesk
Nov. 13 (BusinessDesk) - New Zealand shares fell, joining a global selloff on concerns about the US fiscal cliff and Europe’s stuttering economy. Fletcher Building and Telecom paced the decline; Westpac Banking Corp shed its dividend while boutique ... More >>
NZ dollar steady as Greek impasse keeps investors nervy
Tuesday, 13 November 2012, 5:10 pm | BusinessDesk
Nov. 13 (BusinessDesk) - The New Zealand dollar was little changed as high-level talks in Europe about whether the region will give Greece its next bail-out tranche keep investors nervous, spurring a decline in Asian equity markets. More >>
Belgrave Finance auditor loses bid to quash negligence claim
Tuesday, 13 November 2012, 2:39 pm | BusinessDesk
Nov. 13 (BusinessDesk) - Accounting firm Hayes Knight has lost a bid to throw out accusations it breached its duty of care in signing off on Belgrave Finance accounts, and is one of several parties being sued by the receivers of the failed lender. More >>
