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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 1278]
Fletcher Building bulks up executive team after Ling's exit
Thursday, 11 October 2012, 9:34 am | BusinessDesk
Oct. 11 (BusinessDesk) - Fletcher Building, New Zealand's biggest listed company, has bulked up its executive team just a week-and-a-half after Jonathan Ling's departure as chief executive. More >>
NZ dollar holds near 80 Aussie cents as jobs data looms
Thursday, 11 October 2012, 8:20 am | BusinessDesk
Oct 11 (BusinessDesk) - The New Zealand dollar held near 80 Australian cents ahead of a report this afternoon that's expected to show unemployment levels across the Tasman rose to their highest in three months. More >>
Hydro companies will pass on any water charges, owner says
Thursday, 11 October 2012, 8:07 am | BusinessDesk
Oct 10 (BusinessDesk) – Hydo-electricity generators will likely pass on any charges for water in higher power bills, Infratil, the majority owner of TrustPower, says. More >>
Infratil expects Lubeck airport report soon
Thursday, 11 October 2012, 8:03 am | BusinessDesk
Oct 11 (BusinessDesk) - Oct. 10 (BusinessDesk) – The European Commission is expected to reveal the findings of a five-year investigation into alleged state aid to Lubeck Airport in Germany by the end of 2012 or early in 2013, according to former owner ... More >>
While you were sleeping: Alcoa, Chevron drop
Thursday, 11 October 2012, 7:37 am | BusinessDesk
Oct 11 (BusinessDesk) – Equities slumped after Alcoa slashed its outlook for global aluminum demand and Chevron warned third-quarter profits will not meet expectations, bolstering concern about the impact of slowing economic growth on corporate earnings. More >>
NZ shares fall as Arrium exits Steel and Tube, sparks buy-up
Wednesday, 10 October 2012, 5:59 pm | BusinessDesk
Oct. 10 (BusinessDesk) - New Zealand shares fell for a second day as investors wound down stakes in other companies to buy a flood of shares in steel products-maker Steel & Tube after its Australian parent exited the firm, and as stocks across Asia ... More >>
NZ dollar falls ahead of Aussie employment data
Wednesday, 10 October 2012, 5:15 pm | BusinessDesk
Oct. 10 (BusinessDesk) - The New Zealand dollar fell in local trading ahead of data that's expected to show Australia's unemployment rate rose to its highest level in three months. More >>
Electricity regulator spurns advice for new pricing regime
Wednesday, 10 October 2012, 3:05 pm | BusinessDesk
Oct. 10 (BusinessDesk) - The Electricity Authority has cut through nearly two decades of argument on how best to charge for the cost of the national grid, setting out a new approach that will make generators and consumers pay amounts that reflect the ... More >>
NZ govt deficit worse than forecast on KiwiRail writedown
Wednesday, 10 October 2012, 2:51 pm | BusinessDesk
Oct. 10 (BusinessDesk) - The New Zealand government's annual accounts were worse than forecast in the May budget after a writedown in the value of Kiwirail weighed on the books, even as the Crown reaped more in company taxes. More >>
IRD reaps $4M from tax-payers using trusts
Wednesday, 10 October 2012, 1:35 pm | BusinessDesk
Oct. 10 (BusinessDesk) – Inland Revenue (IRD) has collected $4 million from 170 taxpayers since the Supreme Court found two orthopaedic surgeons had avoided income tax by paying themselves low salaries through a structure of companies and trusts. More >>
Steel & Tube eyes NZX50 after Arrium sells out for $91.2M
Wednesday, 10 October 2012, 1:15 pm | BusinessDesk
Oct. 10 (BusinessDesk) - Local steel products maker Steel & Tube is looking at a return to the NZX 50 index after ASX-listed owner Arrium sold its majority stake for $91.2 million. More >>
MIDDAY UPDATE: Tax dodgers get extension to fess up
Wednesday, 10 October 2012, 12:21 pm | BusinessDesk
Oct. 10 (BusinessDesk) - Self-employed taxpayers who paid themselves artificially low salaries to avoid the top personal tax rate are being given an extension of time to confess all to the Inland Revenue Department and arrange to pay back-tax. More >>
NZ guest nights rise in August as more locals check-in
Wednesday, 10 October 2012, 11:25 am | BusinessDesk
Oct 10 (BusinessDesk) - New Zealand guest nights rose in August as the number of kiwis' checking into local accommodation offset a decrease in international guest nights. More >>
Steel & Tube shares fall 6.6% after parent Arrium sells out
Wednesday, 10 October 2012, 10:54 am | BusinessDesk
Oct. 10 (BusinessDesk) - Shares in Steel & Tube fell 6.6 percent after ASX-listed mining and minerals group, Arrium said it will sell its 50.3 percent stake in the local construction and materials supplier for about $91.2 million. More >>
Cottonsoft makes loss in 2011, receives capital injections
Wednesday, 10 October 2012, 10:26 am | BusinessDesk
Oct. 10 (BusinessDesk) – Cottonsoft, the maker of Tuffy paper towels and Kiwisoft toilet tissue, has received capital injections from its foreign owner after breaching its bank covenants in 2011. More >>
Canada joins TPP talks, puts farm protection on the table
Wednesday, 10 October 2012, 10:15 am | BusinessDesk
Oct. 10 (BusinessDesk) - Canada's heavily protected markets, which have been a barrier to New Zealand's agricultural exports, face an overhaul after the North American nation formally joined the Trans-Pacific Partnership trade negotiations. More >>
NZX brings in new blood to senior management
Wednesday, 10 October 2012, 9:40 am | BusinessDesk
Oct. 10 (BusinessDesk) - NZX, the stock market operator, has appointed Fronde Systems Group chief financial officer Mandy Simpson as its new head of operations, giving her responsibility for market and issuer services. More >>
Steel & Tube parent Arrium to sell half-stake at discount
Wednesday, 10 October 2012, 8:55 am | BusinessDesk
Steel & Tube parent Arrium to sell half-stake for $91.2 million at 15% discount More >>
NZ dollar falls after IMF cuts global growth forecasts
Wednesday, 10 October 2012, 8:28 am | BusinessDesk
Oct. 10 (BusinessDesk) - The New Zealand dollar followed equity markets lower after the International Monetary Fund cut its forecast for global growth, snapping demand for risk-sensitive currencies such as the kiwi. More >>
While you were sleeping: Stocks fall on IMF report
Wednesday, 10 October 2012, 7:31 am | BusinessDesk
Oct 10 (BusinessDesk) – Equities slumped on both sides of the Atlantic after the International Monetary Fund reduced its forecast for global growth. More >>
