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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 1286]
ANZ Bank in $100m phase out of National Bank brand
Wednesday, 26 September 2012, 5:17 pm | BusinessDesk
Sept. 26 (BusinessDesk) - Australia & New Zealand Banking Group, the biggest lender in New Zealand, will phase out is National Bank brand over the next two years and merge adjacent branches in an exercise it estimates will cost $100 million. More >>
NZ dollar falls as speculation for Spanish bailout mounts
Wednesday, 26 September 2012, 5:11 pm | BusinessDesk
Sept. 26 (BusinessDesk) - The New Zealand dollar fell as investors' appetite for higher-yields was sapped amid growing speculation Spain will formally ask for a rescue package, and as Australia's economy comes under pressure with high-profile corporate ... More >>
Fonterra facing fierce competition in Australia
Wednesday, 26 September 2012, 2:56 pm | BusinessDesk
Sept. 26 (BusinessDesk) - Fonterra Cooperative Group's 20 percent drop in earnings across its Australia New Zealand business mainly reflects fierce competition across the Tasman for sales of branded consumer products such as yoghurt and cheese. More >>
Westpac launches budgeting ap for smart phones
Wednesday, 26 September 2012, 2:31 pm | BusinessDesk
Sept. 26 (BusinessDesk) - Westpac Banking Corp, New Zealand's second-biggest bank by assets, is continuing its push toward digital technology, where it sees more services will be delivered, and has launched a free budgeting application for smart mobile ... More >>
RESEND: NZOG to drill Kakapo prospect, still needs rig
Wednesday, 26 September 2012, 1:19 pm | BusinessDesk
Sept. 26 (BusinessDesk) - New Zealand Oil & Gas has confirmed it will drill the inshore Taranaki oil and gas prospect, Kakapo, but is still looking for at least one more farm-in partner and a suitable drilling rig. More >>
NZOG to drill Kakapo prospect, needs rig, seeks partner
Wednesday, 26 September 2012, 1:09 pm | BusinessDesk
Sept. 26 (BusinessDesk) - New Zealand Oil & Gas has confirmed it will drill the inshore Taranaki oil and gas prospect, Kakapo, but is still looking for at least one more farm-in partner and a suitable drilling rig. More >>
CORRECT: Rangatira invests $3.5M in tech-based firm
Wednesday, 26 September 2012, 11:43 am | BusinessDesk
CORRECT: Rangatira invests $3.5M in tech-based insurance service provider in shift away from paper More >>
Falling exports to Australia knock NZ balance of trade
Wednesday, 26 September 2012, 11:38 am | BusinessDesk
Sept 26 (BusinessDesk) - New Zealand recorded a bigger-than-expected trade deficit in August, with petrol and machinery exports into Australia shrinking in the month. More >>
Hallenstein Glasson FY profit rises 15%, beating estimates
Wednesday, 26 September 2012, 11:28 am | BusinessDesk
Sept 26 (BusinessDesk) - Hallenstein Glasson Holdings, the clothing chain, posted a 15 percent increase in full-year earnings, beating estimates as the retailer increased market share. The stock rose 2.4 percent. More >>
Fonterra 2012 payout falls 19 percent , misses forecast
Wednesday, 26 September 2012, 11:27 am | BusinessDesk
Sept. 26 (BusinessDesk) - Fonterra Cooperative Group, the world’s largest exporter of dairy products, missed its forecast with a 19 percent drop in its 2012 payout to farmers, reflecting lower prices for milk and a stronger kiwi dollar, and in spite ... More >>
US-based Craig Wireless lifts stake in Woosh Wireless to 75%
Wednesday, 26 September 2012, 11:17 am | BusinessDesk
Sept. 26 (BusinessDesk) - US telecommunications company Craig Wireless Systems has lifted its stake in local internet service provider Woosh Wireless to 75 percent. More >>
India a once only opportunity for NZ exporters: economist
Wednesday, 26 September 2012, 10:58 am | BusinessDesk
Sept. 26 (BusinessDesk) - The Indian economy is on the brink of a China-style growth explosion, giving New Zealand exporters a "never to be repeated" opportunity to ride a wave of new prosperity, says globally renowned Indian economist Reuben ... More >>
Wellington Drive signs licensing deal of up to US$400k/year
Wednesday, 26 September 2012, 10:16 am | BusinessDesk
Sept. 26 (BusinessDesk) - Wellington Drive Technologies, which makes energy-efficient motors, said it has signed a licensing agreement with a US company worth US$100,000 to US$400,000 a year. More >>
MPI backs plan to force foreign fishing boats to fly NZ flag
Wednesday, 26 September 2012, 9:43 am | BusinessDesk
Sept. 26 (BusinessDesk) - The New Zealand government's decision to force foreign fishing vessels to register under the local flag was the best option to protect the nation's reputation, which was under scrutiny in the US and UK amid reports of abuse ... More >>
NZ dollar falls as better US data fails to lift global hopes
Wednesday, 26 September 2012, 8:35 am | BusinessDesk
Sept. 26 (BusinessDesk) - The New Zealand dollar fell as better-than-expected US home prices and consumer confidence failed to lift optimism about global growth. Markets will be watching for Fonterra’s annual results and merchandise trade data ... More >>
Fonterra won’t buy Tasmanian farms as focus stays on plants
Wednesday, 26 September 2012, 8:17 am | BusinessDesk
Sept. 26 (BusinessDesk) - New Plymouth-owned Tasman Farms, Van Diemen's Land Co's parent, wants to raise up to A$180 million, with at least A$100 million in fresh equity, and has attracted potential suitor from China, but won't see Fonterra Cooperative ... More >>
While you were sleeping: Wall Street declines
Wednesday, 26 September 2012, 7:42 am | BusinessDesk
Sept 26 (BusinessDesk) – Wall Street dropped as Caterpillar slashed its earnings forecast and a Federal Reserve official said he believed the central bank's plan for more asset purchases will do little to bolster the pace of economic expansion. More >>
Rangatira invests $3.5M in insurance services group Konnect
Tuesday, 25 September 2012, 5:57 pm | BusinessDesk
Rangatira invests $3.5M in tech-based insurance service provider in shift away from paper More >>
MARKET CLOSE: NZ shares rise to 4-year high, led by Tower
Tuesday, 25 September 2012, 5:33 pm | BusinessDesk
Sept 25 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index a 4 ½-year high as offshore investors were drawn to the nation’s relatively stable earnings and high yields. Telecom, Auckland International Airport and Infratil paced the advance. ... More >>
Forest & Bird rejects Joyce call, stands firm on Bathurst
Tuesday, 25 September 2012, 5:14 pm | BusinessDesk
Sept. 25 (BusinessDesk) - The Royal Forest & Bird Protection Society will press ahead with appeals against resource consents for Bathurst Resources' proposed open cast coal mine on conservation land in the Denniston Plateau region, above Greymouth. More >>
