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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 1303]
Barry Colman sells National Business Review
Thursday, 30 August 2012, 11:15 am | BusinessDesk
Aug. 30 (BusinessDesk) - One of the country's most successful independent publishers, Barry Colman, has sold his flagship title, the National Business Review, to his current chief executive, Todd Scott, for an undisclosed sum. More >>
Air NZ shares climb to 9-mth high as profit beats estimates
Thursday, 30 August 2012, 10:59 am | BusinessDesk
Aug. 30 (BusinessDesk) - Air New Zealand shares rose to a nine-month high after the national carrier slated for a government selldown beat estimates with a 12 percent drop in annual profit, while forecasting pretax earnings to more than double in 2013. More >>
Auckland Council widens FY loss as expenses outpace income
Thursday, 30 August 2012, 10:54 am | BusinessDesk
Aug. 30 (BusinessDesk) - Auckland Council, New Zealand’s biggest local body after its amalgamation of eight of the region's councils into one in November 2010, widened its full-year loss as growth in expanses outpaced income. More >>
Auckland Airport raises dividend on 15% profit lift
Thursday, 30 August 2012, 10:47 am | BusinessDesk
Aug. 30 (BusinessDesk) - Auckland International Airport is raising its dividend policy to pay out 100 percent of underlying earnings, up from 90 percent, following a 15 percent increase in tax-paid underlying profit of $139.0 million in the year to June ... More >>
From the Farm: Reminders of a great season
Thursday, 30 August 2012, 10:35 am | BusinessDesk
Townies sometimes gripe about farmers when they have good years. They want to see evidence that good times trickle out beyond the rural community to the wider economy. If farmers are all madly reducing debt they’re not spending as much, especially ... More >>
Allied Farmers narrows FY loss, takes further Hanover charge
Thursday, 30 August 2012, 10:01 am | BusinessDesk
Aug 30 (BusinessDesk) - Allied Farmers, the group that turned itself into a penny-dreadful stock by buying the loan books of Hanover Finance and United Finance, narrowed its full-year loss by taking smaller impairments and reducing expenses. More >>
New Image posts FY loss after one-off charge, impairment
Thursday, 30 August 2012, 9:58 am | BusinessDesk
Aug. 30 (BusinessDesk) - New Image Group, which makes colostrum-based health tonics, reported a full-year loss that met is guidance after taking one-time charges to write-down its Living Nature and Sleep Time brands. More >>
Air NZ annual profit beats expectations
Thursday, 30 August 2012, 9:34 am | BusinessDesk
Aug. 30 (BusinessDesk) - Air New Zealand, the national carrier slated for a government selldown, beat estimates as annual profit fell 12 percent, and forecast pretax earnings to more than double in 2013. More >>
NZ dollar weakens as Beige Book stokes doubts about QE3
Thursday, 30 August 2012, 9:02 am | BusinessDesk
Aug. 30 (BusinessDesk) – The New Zealand dollar fell, approaching 80 US cents for the first time since late July, after the Federal Reserve’s Beige Book said the US economy is expanding “gradually” and second-quarter economic growth figures ... More >>
While you were sleeping: US economy shows strength
Thursday, 30 August 2012, 7:40 am | BusinessDesk
August 30 (BusinessDesk) – Wall Street advanced as better-than-expected reports on the US economy kept alive optimism on the recovery without erasing hopes that US policy makers will still lend a helping hand to accelerate the pace of expansion. More >>
Pyne Gould posts FY loss of $47.7M
Wednesday, 29 August 2012, 6:34 pm | BusinessDesk
Pyne Gould posts FY loss of $47.7M, targets litigation funding against failed finance companies More >>
MARKET CLOSE: NZ shares rise as GPG talks up Tower’s value
Wednesday, 29 August 2012, 5:49 pm | BusinessDesk
MARKET CLOSE: NZ shares rise as GPG talks up Tower’s value, Port of Tauranga falls By Hannah Lynch More >>
GPG gives nod to sweeter ClearView bid
Wednesday, 29 August 2012, 5:37 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Corporate raider Guinness Peat Group has given the nod to a better offer for ASX-listed financial services firm ClearView Wealth after turning its nose up at the original bid of A$220 million. More >>
NZ dollar ekes out gain vs. Australian counterpart
Wednesday, 29 August 2012, 5:13 pm | BusinessDesk
Aug. 29 (BusinessDesk) - The New Zealand dollar inched up against its Australian counterpart as pessimism grows about the strength of Australia’s economy after tepid house sales yesterday and rising fears the resources boom may come to an end. More >>
Delegat's shares hit record-high as profit beats guidance
Wednesday, 29 August 2012, 5:11 pm | BusinessDesk
Delegat's shares rise 3 percent, matching Aug. 16 record high, as winemaker beats FY guidance More >>
Lyttelton Port boosts FY earnings 40%
Wednesday, 29 August 2012, 4:41 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Lyttelton Port Co, Christchurch's ocean hub, boosted annual earnings 40 percent as it benefitted from a growing volume of imports for the city's rebuild and increasing log exports. More >>
CORRECT: Solid Energy to axe one in 10 jobs
Wednesday, 29 August 2012, 4:36 pm | BusinessDesk
Aug. 29 (BusinessDesk) - State-owned coal company Solid Energy is to cut 140 jobs from its workforce of around 1,400, close its Spring Creek underground mine on the West Coast, and reduce operations at its Huntly East mine after a downturn in demand ... More >>
Solid Energy to axe one in 10 jobs, curbs underground mining
Wednesday, 29 August 2012, 3:34 pm | BusinessDesk
Aug. 29 (BusinessDesk) - State-owned coal company Solid Energy is to cut 140 jobs from its workforce of around 1,400, close its Stockton underground mine on the West Coast, and reduce operations at its Huntly East mine after a downturn in demand from ... More >>
CORRECT: Port of Tauranga posts record FY profit, lifts div
Wednesday, 29 August 2012, 2:11 pm | BusinessDesk
(Removes reference in third-last paragraph to revaluation gain, which didn’t go through the P&L) More >>
Trans-Tasman accounting body merger 'needs more work'
Wednesday, 29 August 2012, 1:51 pm | BusinessDesk
Aug. 29 (BusinessDesk) - A potential tie-up between the New Zealand Institute of Chartered Accountants and the Institute of Chartered Accountants in Australia, its sister-body, needs more investigation before being put before members. More >>
