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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 1307]
MARKET CLOSE: NZ shares drop, led by Telecom, Sky TV
Friday, 24 August 2012, 5:41 pm | BusinessDesk
Aug. 24 (BusinessDesk) - New Zealand shares fell, led by Telecom and Sky Network Television, which were punished for disappointing earnings after being bid up ahead of their results. Warehouse Group, the biggest retailer on the bourse, gained after ... More >>
UK sports company dumps loss-making Canterbury brand
Friday, 24 August 2012, 5:15 pm | BusinessDesk
Aug. 24 (BusinessDesk) - British sports retailer JD Sports is selling the iconic but loss-making Canterbury rugby clothing brand to its majority shareholder Pentland, after an unsuccessful three-year attempt to build the brand in the European and US ... More >>
NZ dollar heads for 0.7% weekly gain on prospects of QE3
Friday, 24 August 2012, 5:10 pm | BusinessDesk
Aug. 24 (BusinessDesk) - The New Zealand dollar headed for a 0.6 percent weekly gain after minutes from this month's meeting of Federal Reserve policy makers stoked expectations for more asset purchases, even as global growth prospects took a dent with slower ... More >>
Customers supportive as KiwiRail takes blowtorch to costs
Friday, 24 August 2012, 4:26 pm | BusinessDesk
Aug. 24 (BusinessDesk) - KiwiRail, the state-owned railway taking flak over a leaked strategy document that heralds $200 million of cost cuts between 2013 and 2015, says key customers including global transport group Mainfreight are supportive of its ... More >>
Asset sales must halt for deal with Maori on water: Tribunal
Friday, 24 August 2012, 4:01 pm | BusinessDesk
Aug. 24 (BusinessDesk) - The government should halt its privatisation policy while it changes the constitutions of its electricity companies to allow Maori input into how they are run, says the Waitangi Tribunal in its interim report on Maori claims ... More >>
MONEY TALKS: Making sense when the numbers don't add up
Friday, 24 August 2012, 3:34 pm | BusinessDesk
There are all kinds of fish-hooks when it comes to investing, but the one that gives me the worst headaches is trying to make sense out of a company's finances when they unveil the state of their books. More >>
Woolworths' NZ supermarkets lift operating profit 17.7%
Friday, 24 August 2012, 3:23 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Australia’s Woolworths said its New Zealand supermarkets lifted annual operating earnings 17.7 percent by growing market share, selling more to the same customers and reducing ‘shrinkage’. More >>
Telecom's Moutter aims to stamp his mark early next year
Friday, 24 August 2012, 12:24 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Telecom Corp's new chief executive Simon Moutter will lay out his grand plan for the country's biggest listed company early next year after hitting the road to get a sense of what the phone company's stakeholders want. More >>
Location-based intelligence missing a trick in NZ
Friday, 24 August 2012, 12:16 pm | BusinessDesk
Aug 24 (BusinessDesk) - Aug. 24 (BusinessDesk) – New Zealand is failing to reap the benefits of location-based intelligence because the government’s Geospatial Office is tucked away as part of Land Information, says the chairman of the Spatial ... More >>
MIDDAY UPDATE: Sky TV, Telecom shares drop after earnings
Friday, 24 August 2012, 12:04 pm | BusinessDesk
Aug. 24 (BusinessDesk) – Sky Network Television, the pay-TV company controlled by Rupert Murdoch’s News Corp, reported a 3 percent lift in annual profit as it added subscribers and increased its share to TV viewing in New Zealand. More >>
NZ records July trade surplus of $15 mln as China buys dairy
Friday, 24 August 2012, 11:41 am | BusinessDesk
NZ records July trade surplus of $15 million as dairy shipments to China drive exports More >>
Vital Healthcare lifts bottom line annual profit 22% to $9M
Friday, 24 August 2012, 11:39 am | BusinessDesk
Aug. 24 (BusinessDesk) - Vital Healthcare Property Trust's boost annual profit 22 percent to $9 million, on acquisitions and completed development projects, the manager said. More >>
Sky Network FY profit rises 3% on subscriber growth
Friday, 24 August 2012, 11:05 am | BusinessDesk
Aug. 24 (BusinessDesk) - Sky Network Television, the pay-TV company controlled by Rupert Murdoch’s News Corp, reported a 3 percent lift in annual profit as it added subscribers and increased its share to TV viewing in New Zealand. More >>
NZ Post earnings improve, but 'fundamental change' needed
Friday, 24 August 2012, 10:10 am | BusinessDesk
Aug. 24 (BusinessDesk) - Record earnings from Kiwibank helped push underlying net profit after tax up 38 percent to $79.8 million in the year to June 30, but postal revenues still fell $17 million as the trend away from posting letters continued. More >>
Telecom lifts earnings margin by cutting costs as sales fall
Friday, 24 August 2012, 10:04 am | BusinessDesk
>h3>Telecom lifts earnings margin by cutting labour, intercarrier costs as annual sales fall 8.6% More >>
Northland Port FY profit climbs on Northport log volumes
Friday, 24 August 2012, 9:58 am | BusinessDesk
Aug. 24 (BusinessDesk) - Northland Port Corp, which owns a half stake in the region’s Marsden Point port operator Northport, posted a 61 percent gain in full-year profit on a surge in log exports and a one-time revaluation gain on its property portfolio. More >>
Soros fund turns up as 8% shareholder in Guinness Peat
Friday, 24 August 2012, 9:20 am | BusinessDesk
Aug. 24 (BusinessDesk) - A private investment fund linked to billionaire investor George Soros has appeared on the register of Guinness Peat Group, which is winding down its portfolio of assets to return funds to shareholders. Quantum Strategic Partners, ... More >>
Rakon says 2013 earnings to rise as margins remain tight
Friday, 24 August 2012, 9:13 am | BusinessDesk
Aug. 24 (BusinessDesk) - Rakon, which makes crystal oscillators used in smart phones and navigation systems, said 2013 earnings will be an improvement on last year’s results, when a high kiwi dollar compounded the impact of lukewarm demand from the ... More >>
Telecom FY profit misses forecast in first result ex-Chorus
Friday, 24 August 2012, 8:54 am | BusinessDesk
Aug. 24 (BusinessDesk) - Telecom Corp, the country's biggest listed company, missed estimates as it posted its first annual result without the telecommunications network operator Chorus, and signalled next year's earnings will be slightly weaker than ... More >>
NZ dollar falls as China, Europe manufacturing remains weak
Friday, 24 August 2012, 8:48 am | BusinessDesk
Aug. 24 (BusinessDesk) – The New Zealand dollar fell from a two-week high as data showing weaker manufacturing in China while factories in Europe remain in contraction took some of the gloss off the increasing certainty that the Federal Reserve will ... More >>
