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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 1262]
Steel & Tube returns to NZX 50 as Haier buys F&P Appliances
Wednesday, 7 November 2012, 9:54 am | BusinessDesk
Nov. 7 (BusinessDesk) - Steel and Tube Holdings, which sells steel building products, is to return to the NZX 50 Index with the departure of Fisher and Paykel Appliances. More >>
Briscoe third-quarter sales slip 0.5%, tips FY profit gain
Wednesday, 7 November 2012, 9:22 am | BusinessDesk
Briscoe third-quarter sales slip 0.5%, led by sporting goods, tips stronger FY profit More >>
Canterbury reinsurance claims a third of the way through
Wednesday, 7 November 2012, 9:09 am | BusinessDesk
Nov. 7 (BusinessDesk) - Insurance claims for the spate of Canterbury earthquakes are about a third of the way through with $10.8 billion paid out, according to the Reserve Bank. More >>
RBNZ's Wheeler warns against excessive credit growth
Wednesday, 7 November 2012, 9:07 am | BusinessDesk
Nov. 7 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has warned excessive credit growth may trip up New Zealand's economic rebalancing and has singled out agricultural debt as being uncomfortably high in the latest financial stability report. More >>
NZ dollar gains with dairy prices as US votes
Wednesday, 7 November 2012, 8:56 am | BusinessDesk
Nov. 7 (BusinessDesk) – The New Zealand dollar rose after prices gained in Fonterra’s latest sale of dairy products, the nation’s biggest export, and as America votes for the next president of the world’s biggest economy. More >>
While you were sleeping: US voters head to the polls
Wednesday, 7 November 2012, 7:28 am | BusinessDesk
Nov 7 (BusinessDesk) – Wall Street advanced as voters headed to the polls in the US in a neck-and-neck race between President Barack Obama and Republican rival Mitt Romney. More >>
Dairy product prices rise 1.1% in GDT auction
Wednesday, 7 November 2012, 6:17 am | BusinessDesk
Nov. 7 (BusinessDesk) – Prices of dairy products rose in Fonterra’s latest GlobalDairyTrade auction, the second straight gain on the sales platform. More >>
MARKET CLOSE: NZ shares gains for first day in four
Tuesday, 6 November 2012, 5:35 pm | BusinessDesk
MARKET CLOSE: NZ shares gains for first day in four; led by Air NZ, Fletcher More >>
NZ dollar falls vs. Australian dollar; RBA keeps rate steady
Tuesday, 6 November 2012, 5:33 pm | BusinessDesk
Nov. 6 (BusinessDesk) - The New Zealand dollar fell against its Australian counterpart after the Reserve Bank of Australia kept interest rates on hold as inflationary pressures start to emerge across the Tasman. More >>
RBA keeps key rate at 3.25% in face of strong currency
Tuesday, 6 November 2012, 5:06 pm | BusinessDesk
Reserve Bank of Australia keeps key rate at 3.25% in face of strong currency More >>
Haier reaches 90% of F&P Appliances, will mop up the rest
Tuesday, 6 November 2012, 3:22 pm | BusinessDesk
Nov. 6 (BusinessDesk) - Haier, the Chinese home appliances manufacturer, has succeeded in reaching 90 percent of Fisher & Paykel Appliances, meaning it can compulsorily acquire the rest and delist the iconic Auckland-based manufacturer from the NZX and ... More >>
Trans-Tasman accounting body merger gets unanimous backing
Tuesday, 6 November 2012, 1:53 pm | BusinessDesk
Nov. 6 (BusinessDesk) - A potential tie-up between the New Zealand Institute of Chartered Accountants and the Institute of Chartered Accountants in Australia, its sister-body, will be put to members for consultation after winning unanimous support from both ... More >>
Citibank wins contract to handle MFAT's global banking
Tuesday, 6 November 2012, 1:22 pm | BusinessDesk
Nov. 6 (BusinessDesk) – Citibank has won a five-year global banking contract to handle the $110 million spent by New Zealand’s diplomatic posts each year. More >>
Some 900 investors, $439M deposits caught in Ross freeze
Tuesday, 6 November 2012, 12:40 pm | BusinessDesk
Nov. 6 (BusinessDesk) - Around 900 individual investors and an unknown number of financial intermediaries are caught up in the court-ordered freeze on assets managed by Wellington investment adviser David Ross, the Wellington High Court heard this ... More >>
Market gives Rakon thumbs-up for sending work overseas
Tuesday, 6 November 2012, 12:16 pm | BusinessDesk
Nov. 6 (BusinessDesk) - Investors have given high-tech components maker Rakon a nod of approval for its plan to lay-off up to 60 local staff and shift more manufacturing overseas, with the shares up 7.3 percent today. More >>
Lion expands boutique footprint with Dunedin-based Emerson's
Tuesday, 6 November 2012, 11:59 am | BusinessDesk
Nov. 6 (BusinessDesk) - Lion, the Australasian brewer owned by Japanese beverages giant Kirin, has expanded its footprint in boutique ales by buying Dunedin-based Emerson's Brewing Co for an undisclosed sum. More >>
NZ labour costs rise 0.5 percent in 3Q
Tuesday, 6 November 2012, 10:52 am | BusinessDesk
Nov. 6 (BusinessDesk) - New Zealand's wage inflation was paced by the construction sector in Canterbury as the rebuild of the country's second-biggest city continues to pick up pace. More >>
Weak first half as Z Energy maintains margins
Tuesday, 6 November 2012, 10:09 am | BusinessDesk
Nov 6 (BusinessDesk) - Z Energy is willingly sacrificing petrol sales volume for improved margins, with intense competition and high fuel costs to motorists contributing to a 42 percent drop in after-tax profit for the six months to Sept 30. More >>
Rakon to cut 60 NZ jobs, shift manufacturing to China, India
Tuesday, 6 November 2012, 9:40 am | BusinessDesk
Nov. 6 (BusinessDesk) - Rakon, which makes crystal oscillators used in smart phones and navigation systems, will cut up to 60 New Zealand jobs as it shifts more manufacturing to China and India in a bid to cut costs and widen profit margins. More >>
GPG accelerates investment wind-down with $125.9M in sales
Tuesday, 6 November 2012, 9:04 am | BusinessDesk
Nov. 6 (BusinessDesk) - Guinness Peat Group, the investment firm liquidating its portfolio, accelerated its wind-down this week with some $125.9 million in asset sales. More >>
