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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 1269]
UPDATE: KiwiRail gets feedback at annual meeting
Friday, 26 October 2012, 3:55 pm | BusinessDesk
Oct. 26 (BusinessDesk) - KiwiRail faced a barrage of calls for better service at its annual meeting in Wellington on Friday, including a plea for more professional commentaries on its tourism rail services. More >>
Postie Plus renegotiates banking covenants, averting breach
Friday, 26 October 2012, 3:52 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Postie Plus Group has renegotiated its banking covenants with the Bank of New Zealand because there was a possibility it would breach them in October. More >>
Wagons with rubber wheels possible on KiwiRail's ferries
Friday, 26 October 2012, 3:48 pm | BusinessDesk
Oct. 26 (BusinessDesk) - KiwiRail is considering using rail wagons with rubber wheels to move freight on and off its Cook Strait ferries so the state-owned company does not have to buy expensive ferries with rail decks in the future. More >>
MIDDAY UPDATE: Fonterra launches shareholders' fund
Friday, 26 October 2012, 12:05 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Fonterra Cooperative Group has formally launched the offer documents for its shareholder fund, which it hopes to raise as much as $525 million to cover the risk of farmers cashing up and redeeming their shares in the dairy exporter. More >>
KiwiRail 1Q revenue running ahead of budget
Friday, 26 October 2012, 11:44 am | BusinessDesk
Oct. 26 (BusinessDesk) - KiwiRail, which runs the nation's railway network, is tracking ahead of expectations after the first three months of the financial year, but is still conscious of the need to keep a lid on costs. More >>
NZ trade deficit edges lower in September
Friday, 26 October 2012, 11:35 am | BusinessDesk
Oct. 26 (BusinessDesk) - New Zealand's trade deficit narrowed in September as imports and exports across the Tasman shrank, led by falling international dairy sales and declining foreign machinery purchases. More >>
Fonterra to sell up to $525M units at indicative $4.60-$5.50
Friday, 26 October 2012, 11:04 am | BusinessDesk
Fonterra to sell up to $525M of units at indicative price of $4.60-$5.50, accounting for 7% of shares More >>
Restaurant Brands predicts flat annual profit
Friday, 26 October 2012, 10:32 am | BusinessDesk
Oct. 26 (BusinessDesk) - Fast-food franchise operator Restaurant Brands is forecasting a flat annual profit after reporting a mixed first-half result which included higher costs ahead of the startup of Carl's Jr stores. More >>
Kmart woos customers with low prices
Friday, 26 October 2012, 9:54 am | BusinessDesk
Oct. 26 (BusinessDesk) - Australian-owned Kmart says its customers are responding to its low price strategy, which it will continue. More >>
Marlin defends renewal of Fisher Funds management contract
Friday, 26 October 2012, 9:46 am | BusinessDesk
Oct. 26 (BusinessDesk) - Marlin Global, the listed investment company that buys international stocks, has defended the renewal of its management contract with Fisher Funds, saying there were no grounds to ditch the fund manager ahead of next week's annual meeting ... More >>
Wheeler sees no need for quantitative easing; kiwi drops
Friday, 26 October 2012, 9:40 am | BusinessDesk
Wheeler sees no need for quantitative easing in NZ, rules out currency intervention; kiwi drops More >>
Brownlee sees Clifford Bay terminal proposal by Christmas
Friday, 26 October 2012, 9:11 am | BusinessDesk
Oct. 26 (BusinessDesk) - Transport Minister Gerry Brownlee says he will take a paper to cabinet before Christmas on the possibility of a ferry terminal at Clifford Bay in Marlborough. More >>
Vector credit rating under scrutiny by Moody's
Friday, 26 October 2012, 8:58 am | BusinessDesk
Oct. 26 (BusinessDesk) - Vector's credit rating may come under the gun after the Commerce Commission's draft rules to set the default price-quality paths for gas pipelines would impose a sharp price cut for the Auckland lines company, according ... More >>
Kordia bundles Orcon ISP with network business
Friday, 26 October 2012, 8:56 am | BusinessDesk
Oct. 25 (BusinessDesk) - Kordia, the state-owned communications group that returned to profit this year, has merged its Orcon internet services provider with its network business, slimming down group operations. More >>
NZ dollar falls vs. pound as UK emerges from recession
Friday, 26 October 2012, 8:55 am | BusinessDesk
Oct. 26 (BusinessDesk) - The New Zealand dollar fell against the pound after government figures showed Britain emerged from recession last quarter, helped by the Olympic Games. The kiwi held above 82 US cents. More >>
While you were sleeping: Corporates in focus
Friday, 26 October 2012, 7:45 am | BusinessDesk
Oct 26 (BusinessDesk) – Global equities remain stuck in a holding pattern, though on balance bolstered overnight by solid corporate results, helping to offset increasing uncertainty about the pending US presidential election. More >>
MARKET CLOSE: NZ shares fall; ANZ down after results
Thursday, 25 October 2012, 6:03 pm | BusinessDesk
Oct. 25 (BusinessDesk) - New Zealand shares fell, with Australia & New Zealand Banking Group pacing the decline after reporting record full-year profit that missed estimates. Guinness Peat Group rose after giving an update on its asset sales and ... More >>
CORRECT: Freightways lifts September quarter profit by 14%
Thursday, 25 October 2012, 5:49 pm | BusinessDesk
(Corrects name of managing director in third paragraph) Oct. 25 (BusinessDesk) – Freightways, the courier and data management group, said profit rose 14 percent in the quarter ended Sept. 30 in what it expects to be an ongoing “slow-growth environment.” More >>
New Image chairman buys Huljich stake for $6.1M
Thursday, 25 October 2012, 5:34 pm | BusinessDesk
Oct. 25 (BusinessDesk) - New Image Group's chairman Graeme Clegg is buying the 10.1 percent stake in the company held by HWM (NZ), formerly known as Huljich Wealth Management, in two steps to avoid having to make a full takeover of the colostrum-based health ... More >>
NZ dollar climbs to 2-week high after RBNZ less dovish
Thursday, 25 October 2012, 5:19 pm | BusinessDesk
NZ dollar climbs to 2-week high after RBNZ looks through soft inflation, keeps OCR at 2.5 percent More >>
