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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 1308]
While you were sleeping: HP drops; Merkel sees arduous path
Friday, 24 August 2012, 7:32 am | BusinessDesk
Aug 24. (BusinessDesk) – Stocks fell in the US and Europe on concern European leaders aren’t making as much progress as hoped in resolving the region’s debt crisis and Hewlett-Packard led declines in tech stocks after forecasting earning that missed ... More >>
NZ seeks advice from small advanced economies
Thursday, 23 August 2012, 7:10 pm | BusinessDesk
NZ seeks advice from small advanced economies Aug 23 (BusinessDesk) - New Zealand is to host a meeting of what the government is calling "small advanced economies", involving Singapore, Denmark, Finland, and Israel, in Auckland in November, to try ... More >>
MARKET CLOSE: NZ shares rise, led by Skellerup, NZR
Thursday, 23 August 2012, 5:56 pm | BusinessDesk
Aug. 23 (BusinessDesk) - New Zealand shares rose, led by Skellerup Holdings, after the rubber goods manufacturer posted record earnings, while NZ Refining gained on comments its refinery margins have improved after shrinking last year. More >>
NZ dollar rises to 2-week high as Fed minutes fuel QE3 bets
Thursday, 23 August 2012, 5:20 pm | BusinessDesk
Aug. 23 (BusinessDesk) - The New Zealand dollar rose to a two-week high in local trading, extending its rally after minutes for the last Federal Reserve policy makers' meeting fuelled expectations the central bank will embark on a third round of money ... More >>
NZ Refining turns to 1H loss on slimmer refinery margin, NZD
Thursday, 23 August 2012, 3:49 pm | BusinessDesk
Aug. 23 (BusinessDesk) - New Zealand Refining, which operates the nation’s only oil refinery, turned to a first-half loss as its refinery margin shrank and a high kiwi dollar ate into its processing fee revenue. More >>
Big win for high country irrigators in Five Farms decision
Thursday, 23 August 2012, 3:29 pm | BusinessDesk
Aug. 23 (BusinessDesk) - The destruction of native vegetation by irrigation has been upheld in a landmark High Court decision for development of land in dry, high country catchments such as the Mackenzie country. More >>
South Port FY profit falls 4.3% on costs from higher volumes
Thursday, 23 August 2012, 3:25 pm | BusinessDesk
Aug. 23 (BusinessDesk) - South Port New Zealand, the nation’s southern-most port company, posted a 4.3 percent drop in full-year profit on costs to cope with higher cargo volumes and increased insurance premiums. More >>
F&P Appliances sees FY recovery in appliances unit
Thursday, 23 August 2012, 2:38 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Fisher & Paykel Appliances, the manufacturer of dishwashers, ovens and fridges, forecast a recovery in earnings from its appliances business this year because it doesn’t expect a repeat of last year’s hedging losses. More >>
Fairfax Media writes down goodwill, mastheads by A$2.8 bln
Thursday, 23 August 2012, 1:10 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Fairfax Media, the Australian media group that took more than A$1 billion of charges against goodwill and mastheads in 2010, has written down the value of those assets by a further A$2.8 billion, widening its annual loss. It ... More >>
Skellerup likely to move west in Christchurch
Thursday, 23 August 2012, 12:23 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Skellerup Holdings is moving west in Christchurch but is not saying where yet. More >>
Half of us will soon have a smartphone, Ericsson says
Thursday, 23 August 2012, 12:22 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Nearly half of all New Zealanders with a mobile phone will be using a smartphone by the end of the year, according to research by global telecommunications technology and services company Ericsson. More >>
Qantas has first loss since '95, cancels order for 35 planes
Thursday, 23 August 2012, 12:08 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Qantas Airways, Australia’s biggest airline, is cutting orders for 35 Boeing 787-9 aircraft for a saving of US$8.5 billion as it announces its first trading loss since being privatised in 1995. More >>
Transpacific NZ posts earnings in 2012 after 2011 loss
Thursday, 23 August 2012, 12:01 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Australian waste manager Transpacific Industries' New Zealand unit reported earnings for the 2012 financial year, from a year-earlier loss that reflected an A$182 million writedown of goodwill on its local assets, largely on ... More >>
Insurance Australia Group reports jump in NZ profit
Thursday, 23 August 2012, 11:51 am | BusinessDesk
Aug. 23 (BusinessDesk) – Insurance Australia Group’s New Zealand subsidiary, the nation’s largest general insurer, reported a A$103 million annual profit, reflecting a 27 percent increase in gross written premiums, and reiterated a willingness to ... More >>
Postie Plus says Boskill to step down after 7 years as CEO
Thursday, 23 August 2012, 10:58 am | BusinessDesk
Aug. 23 (BusinessDesk) - Postie Plus Group said chief executive Ron Boskell will step down in January after seven years leading the clothing retailer. More >>
Underlying revenue growth underpins Vector profit
Thursday, 23 August 2012, 10:54 am | BusinessDesk
Aug. 23 (BusinessDesk) - Auckland-based utilities network owner Vector has reported flat topline earnings after tax of $198.8 million for the year to June 30, down 1.3 percent on the 2011 financial year. More >>
J2 Global snaps up more Zintel assets, agrees to buy NZ unit
Thursday, 23 August 2012, 10:38 am | BusinessDesk
J2 Global snaps up more Zintel assets, agrees to buy NZ unit for $7.3 mln cash More >>
Metlifecare posts annual loss on $99.9M property writedown
Thursday, 23 August 2012, 10:15 am | BusinessDesk
Aug 23 (BusinessDesk) - Metlifecare, the retirement village operator that merged with major shareholders Vision Senior Living and Private Life Care, slashed the value of its property portfolio by $99.8 million, sending it to a full-year loss. More >>
Skellerup reports record profit, increases dividend
Thursday, 23 August 2012, 9:27 am | BusinessDesk
Aug. 23 (BusinessDesk) - Skellerup Holdings, New Zealand's largest industrial rubber products supplier, reported another record annual profit and increased its dividend as new products and low debt levels shielded it from an economic downturn in some ... More >>
NZ dollar gains as Fed minutes show desire for more stimulus
Thursday, 23 August 2012, 8:58 am | BusinessDesk
Aug. 23 (BusinessDesk) – The New Zealand dollar gained after minutes of the last Federal Reserve policy makers’ meeting showed a widespread desire for more stimulus to underpin the world’s biggest economy. The greenback tumbled against the yen ... More >>
