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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 1306]
MARKET CLOSE: NZ shares rise Chorus profit, Telecom drops
Monday, 27 August 2012, 5:31 pm | BusinessDesk
Aug. 27 (BusinessDesk) - New Zealand shares rose led by Chorus after the network operator posted a maiden profit and flagged a 25.5 cent dividend for its first full year as a standalone entity. Xero fell to a 2 ½-month low after saying it had no ... More >>
Key hanging tough on pre-Christmas asset sales
Monday, 27 August 2012, 5:20 pm | BusinessDesk
Aug. 27 (BusinessDesk) - Prime Minister John Key is hanging tough on the government's intention to sell up to 49 percent of the state-owned power company MightyRiverPower before Christmas, arguing the government is already working with Maori to recognise ... More >>
NZ dollar holds above 81 US cts as Jackson Hole looms
Monday, 27 August 2012, 5:12 pm | BusinessDesk
Aug. 27 (BusinessDesk) - The New Zealand dollar held above 81 US cents as investors look toward the major speeches at this weekend's central bankers' retreat in Jackson Hole, Wyoming, where officials from the Federal Reserve and European Central Bank ... More >>
FMA’s Hughes sees benefits of single ANZ markets regulator
Monday, 27 August 2012, 4:38 pm | BusinessDesk
Aug. 27 (BusinessDesk) - A single regulator for financial markets in Australia and New Zealand would help market participants and investors in both countries, says Sean Hughes, chief executive of the Financial Markets Authority. More >>
Warehouse to get gain of up to $64 mln from sale, leaseback
Monday, 27 August 2012, 3:38 pm | BusinessDesk
Warehouse to get pretax gain of up to $64 million from sale, leaseback of properties More >>
Hellaby lifts FY profit 26% on equipment, automotive units
Monday, 27 August 2012, 3:01 pm | BusinessDesk
Aug. 27 (BusinessDesk) - Hellaby Holdings, the NZX-listed diversified investment group, posted its third year of profit growth, led by an increase in earnings across its equipment and footwear and automotive divisions. More >>
Commerce Commission OK's Fonterra's milk price method
Monday, 27 August 2012, 1:40 pm | BusinessDesk
Aug. 27 (BusinessDesk) - Fonterra Cooperative Group's method for setting the benchmark Farm Gate Milk Price is "not inconsistent" with its obligations under the Commerce Act to ensure potential competitors are able to compete with it, says the ... More >>
Farming Systems misses guidance with FY loss, to sell rights
Monday, 27 August 2012, 1:27 pm | BusinessDesk
Aug. 27 (BusinessDesk) - NZ Farming Systems Uruguay, the South American dairy farmer controlled by Singapore's Olam International, missed its guidance of two months ago with a bigger annual loss and signalled plans to raise US$135 million to repay a ... More >>
PMP plans sale, leaseback of properties to generate cash
Monday, 27 August 2012, 1:27 pm | BusinessDesk
Aug. 27 (BusinessDesk) - PMP, the printing and magazine distribution company, plans to sell and lease back properties in Australia and New Zealand to generate at least A$75 million of cash after posting a wider full-year loss. More >>
Chorus shares jump 8% after maiden profit, dividend forecast
Monday, 27 August 2012, 12:25 pm | BusinessDesk
Aug. 27 (BusinessDesk) - Shares in Chorus jumped 8 percent after the telecommunications network operator reported its maiden profit and forecast a 25.5 cent dividend in 2013. More >>
MIDDAY UPDATE: Chorus posts maiden profit
Monday, 27 August 2012, 12:05 pm | BusinessDesk
Aug. 27 (BusinessDesk) – Chorus has posted a maiden profit in its first seven months since splitting from Telecom Corp, and flagged a 25.5 cent dividend for its first full year as a standalone entity in 2013. More >>
NZ Dollar Outlook: Kiwi may continue in recent range
Monday, 27 August 2012, 11:46 am | BusinessDesk
NZ Dollar Outlook: Kiwi may continue in recent range as Fed, euro bond buying loom More >>
Bathurst Resources wins climate change appeal
Monday, 27 August 2012, 10:59 am | BusinessDesk
Aug. 27 (BusinessDesk) - Bathurst Resources has beaten off a challenge by environmental groups seeking to have its West Coast coking coal plans overturned on the grounds that burning coal causes climate change. More >>
Genesis returns to profit on Tekapo assets, higher prices
Monday, 27 August 2012, 10:49 am | BusinessDesk
Aug. 27 (BusinessDesk) - Genesis Energy returned to profit in the year to June 30, with earnings of $90 million, compared with a $17 million loss in the previous year. More >>
Tourism Holdings returns to FY profit on Road Bear, RWC
Monday, 27 August 2012, 10:22 am | BusinessDesk
Aug. 27 (BusinessDesk) - Tourism Holdings, the largest provider of holiday rental vehicles in New Zealand and Australia, returned to profit after an increase in sales from the Rugby World Cup and the first full-year contribution its Road Bear unit ... More >>
Chorus posts maiden 7-month profit, flags 25.5 cent dividend
Monday, 27 August 2012, 9:28 am | BusinessDesk
Chorus posts maiden profit in first 7 months after Telecom split, flags 25.5 cent dividend in 2013 More >>
We’re not to blame for Auckland ticketing debacle: Snapper
Monday, 27 August 2012, 9:26 am | BusinessDesk
Aug. 27 (BusinessDesk) - Snapper Services, which runs the ticketing system used on Infratil’s buses, says it is not to blame for delays in Auckland’s Integrated Fares System which has led to Auckland Transport terminating its contract. More >>
NZ dollar holds above 81 cts on Fed stimulus, Europe hopes
Monday, 27 August 2012, 8:51 am | BusinessDesk
Aug. 27 (BusinessDesk) - The New Zealand dollar held above 81 US cents as traders look ahead to the week-end central bankers retreat in Jackson Hole, Wyoming, and await signs of commitment from European leaders for the European Central Bank’s ... More >>
World Week Ahead: Jackson Hole beckons
Monday, 27 August 2012, 7:22 am | BusinessDesk
Aug. 27 (BusinessDesk) - The strength of US economic data out this week will shape views on what Federal Reserve chairman Ben Bernanke say at Jackson Hole, Wyoming, on Aug. 31. More >>
Bathurst in trading halt ahead of Monday announcement
Friday, 24 August 2012, 6:46 pm | BusinessDesk
Aug. 24 (BusinessDesk) - West Coast coking coal miner Bathurst Resources has been placed in trading halt, pending an announcement that appears likely on Monday next week. More >>
