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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 1283]
CORRECTION Cue sticks with 3-5 wells a year target
Tuesday, 2 October 2012, 1:16 pm | BusinessDesk
Oct. 2 (BusinessDesk) - Cue Energy Resources is sticking with its strategy to seek "transformational growth" by involvement in three to five exploration wells a year, despite disappointments and ambiguity in such activities during the last ... More >>
Hubbard statutory management hits courtroom speed bumps
Tuesday, 2 October 2012, 1:12 pm | BusinessDesk
Oct. 2 (BusinessDesk) - The statutory management for the late Allan Hubbard's frozen investment vehicles is set to hit a go-slow period as the managers charged with winding up the entities prepare for court action on several fronts. More >>
KiwiRail mothballs Napier-to-Gisborne line; road to improve
Tuesday, 2 October 2012, 1:08 pm | BusinessDesk
Oct. 2 (BusinessDesk) - State-owned railway KiwiRail has decided to mothball the loss-making Napier-to-Gisborne line, saying the $4 million cost to reopen the track isn't worth forecast maintenance costs, which are set to rise to $6 million a year. More >>
MIDDAY UPDATE: Napier-Gisborne rail link axed for road fix
Tuesday, 2 October 2012, 12:15 pm | BusinessDesk
Oct. 2 (BusinessDesk) - KiwiRail is to mothball the rail link between Napier and Gisborne, saying it cannot be made to pay its way in a coordinated announcement coinciding with a decision to upgrade State Highway 2 between the two North Island cities. More >>
Daina shipping to pay $38M compensation for Rena
Tuesday, 2 October 2012, 10:26 am | BusinessDesk
Oct. 2 (BusinessDesk) - Daina Shipping Co, owner of the Rena, has agreed to pay the Crown up to $38 million for the costs incurred in clean-up after the ship grounded off Tauranga last October. More >>
Xero more than doubles 1H sales; ASX listing next month
Tuesday, 2 October 2012, 10:20 am | BusinessDesk
Oct. 2 (BusinessDesk) - Xero, the cloud-based accounting platform provider, more than doubled first-half sales and expects to list across the Tasman next month as it boosts its operations in Australia. More >>
NZ dollar slips vs. Australian dollar before RBA statement
Tuesday, 2 October 2012, 9:13 am | BusinessDesk
Oct. 2 (BusinessDesk) - The New Zealand dollar was little changed against the greenback and fell versus the Australian dollar ahead of the Reserve Bank of Australia’s policy review and a monthly commodity report that may show prices are strengthening. More >>
Comvita buys Whanganui-based Kiwi Honey for undisclosed sum
Tuesday, 2 October 2012, 9:12 am | BusinessDesk
Oct. 2 (BusinessDesk) - Comvita, which makes products based on the virtues of Manuka honey, has ramped up its supply buying Whanganui-based Kiwi Honey for an undisclosed sum. More >>
Cue sticks with 3-5 wells a year in hunt for growth
Tuesday, 2 October 2012, 9:02 am | BusinessDesk
Oct. 2 (BusinessDesk) - Cue Energy Resources is sticking with its strategy to seek "transformational growth" by involvement in three to five exploration wells a year, despite disappointments and ambiguity in such activities during the last ... More >>
While you were sleeping: US manufacturing advances
Tuesday, 2 October 2012, 6:47 am | BusinessDesk
Oct 2 (BusinessDesk) – Equities received a lift from unexpected growth in US manufacturing, underpinning hopes that the slowdown in the world's largest economy might be a little less than feared. More >>
Vodafone NZ boosts profit 16 percent after settlement
Monday, 1 October 2012, 6:19 pm | BusinessDesk
Oct. 1 (BusinessDesk) - Vodafone New Zealand, the country's biggest mobile phone operator, boosted annual profit 16 percent after reaching a settlement with rival Telecom, taking the sting out of its warning that regulation would eat into this ... More >>
MARKET CLOSE: NZ shares dip in quiet trading; Fletcher gains
Monday, 1 October 2012, 6:12 pm | BusinessDesk
Oct. 1 (BusinessDesk) - New Zealand shares fell from near a four-year high in trading that may have been reduced by holidays in China and some Australian states. OceanaGold and Fisher & Paykel Healthcare led the decline. Fletcher Building rose back toward ... More >>
Key to LA for air-kiss fest with movie moguls
Monday, 1 October 2012, 5:31 pm | BusinessDesk
Oct. 1 (BusinessDesk) - Prime Minister John Key will make a whirlwind visit to Los Angeles at the end of the week for a series of visits with senior US movie industry figures, hosted by Avatar producer-cum-Wairarapa farmland investor James Cameron. More >>
NZ dollar holds near 12-mth high vs. A$ before RBA
Monday, 1 October 2012, 5:14 pm | BusinessDesk
NZ dollar holds near 12-month high vs. Australian currency as traders split on RBA rate cut More >>
Cabinet secretary seconded to GCSB to review spooks
Monday, 1 October 2012, 4:10 pm | BusinessDesk
Oct. 1 (BusinessDesk) - The Government Communications Security Bureau is to undergo an immediate capability, governance and performance review with the Cabinet Secretary seconded into the agency as an associate director. More >>
Alesco challenges $8.6M tax avoidance ruling in Appeal Court
Monday, 1 October 2012, 2:49 pm | BusinessDesk
Oct. 1 (BusinessDesk) - Western Australian-based Alesco Corp is challenging a High Court decision that would see it pay $8.6 million in tax and penalties for using securities with the characteristics of both equity and debt. More >>
BurgerFuel signs Master Licence in Kuwait
Monday, 1 October 2012, 2:35 pm | BusinessDesk
Oct. 1 (BusinessDesk) - BurgerFuel Worldwide said it has signed a master licence agreement for Kuwait with Al Khayyat Investments (AKI). More >>
UPDATED: Tower lifts house, contents premiums by 25%-30%
Monday, 1 October 2012, 1:13 pm | BusinessDesk
Oct. 1 (BusinessDesk) - Tower has raised its premiums for house and contents insurance by between 25 percent and 30 percent to reflect an increase in charges from reinsurers after locking in $525 million of cover for the 2012/2013 year. More >>
NZ Dollar Outlook: Kiwi may fall, looking "tired" at US83cts
Monday, 1 October 2012, 12:56 pm | BusinessDesk
Oct. 1 (BusinessDesk) - The New Zealand dollar may fall this week with the risk that traders betting on further gains are disappointed if there are further signs of global economic weakness or the Reserve Bank of Australia fails to cut interest rates tomorrow. More >>
MIDDAY UPDATE: Boutique brewer Moa in $15M pre-Christmas IPO
Monday, 1 October 2012, 12:55 pm | BusinessDesk
Oct. 1 (BusinessDesk) - Beer enthusiasts will get a new opportunity to "drink the profits" by subscribing for shares in the Moa Group, which is planning a $15 million NZX float by the end of the month. More >>
