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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 1311]
Higher energy costs, dollar knock NZ Steel FY2012 earnings
Monday, 20 August 2012, 5:55 pm | BusinessDesk
Aug 20 (BusinessDesk) - The strength of the New Zealand dollar against the greenback and higher utility costs are the primary reasons given for a 21 percent fall in reported earnings before interest and tax at the local unit of the Australian steel maker ... More >>
MARKET CLOSE: NZ shares rise to 4-year high; TEL, FBU gain
Monday, 20 August 2012, 5:51 pm | BusinessDesk
Aug. 20 (BusinessDesk) - New Zealand shares rose to their highest level since May 2008 on expectations the biggest companies on the bourse, Telecom and Fletcher Building, will post earnings growth this week, while Rakon announced expansion in China. More >>
NZ dollar gains as investors pare bets on QE3, Fed looms
Monday, 20 August 2012, 5:23 pm | BusinessDesk
NZ dollar gains as investors pare bets on more US money printing, Fed minutes loom More >>
CORRECT: Hallenstein says FY profit rose as much as 14%
Monday, 20 August 2012, 4:53 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Hallenstein Glasson Holdings, the clothing chain, said full-year earnings rose as much as 14 percent on increased sales and the contribution from insurance relating to the Christchurch earthquakes. More >>
Commerce Commission loses bid to extend claim vs. Bluestone
Monday, 20 August 2012, 4:43 pm | BusinessDesk
Aug. 20 (BusinessDesk) - The Commerce Commission has lost a bid to widen its claim against Australian lender Bluestone Mortgages NZ over fees charged on early repayments. More >>
NZ annual wine exports rise 8%, profitability slows
Monday, 20 August 2012, 3:53 pm | BusinessDesk
Aug. 20 (BusinessDesk) - New Zealand Winegrowers, the industry body representing about 1,000 growers and 700 wineries, said annual exports rose by 8 percent even as the high kiwi dollar reduced profits. More >>
Judge mulls creditor protection in Southbury liquidation bid
Monday, 20 August 2012, 2:06 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Associate Judge Hannah Sargisson reserved her decision to weigh up creditor protection in a bid to wind up the late Allan Hubbard's Southbury Group. More >>
Transpower to sell up to $300M of 2015, 2019 bonds
Monday, 20 August 2012, 1:01 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Transpower New Zealand, the state-owned national grid operator, will sell up to $300 million of bonds for working capital and to help fund its network upgrade work. More >>
NZ Dollar Outlook: Kiwi may fall on global growth concerns
Monday, 20 August 2012, 12:36 pm | BusinessDesk
Aug. 20 (BusinessDesk) - The New Zealand dollar may fall this week as investors search for fresh clues on the pace of global growth, while Europe struggles to find a credible solution to its debt crisis. More >>
ClearView urges shareholders to reject A$220M Crescent offer
Monday, 20 August 2012, 12:17 pm | BusinessDesk
Aug. 20 (BusinessDesk) - ClearView Wealth, the financial services company that is 48 percent owned by Guinness Peat Group, has advised shareholders to reject a A$220 million offer from buyout firm Crescent Capital Partners that would install former ... More >>
MIDDAY UPDATE: Hallenstein FY profit rises
Monday, 20 August 2012, 11:57 am | BusinessDesk
Aug. 20 (BusinessDesk) - Hallenstein Glasson Holdings, the clothing chain, said full-year earnings rose as much as 14 percent on increased sales and the contribution from insurance relating to the Christchurch earthquakes. More >>
Hallenstein says FY profit rose as much as 14%
Monday, 20 August 2012, 11:52 am | BusinessDesk
Aug 20 (BusinessDesk) - Hallenstein Glasson Holdings, the clothing chain, said full-year earnings rose as much as 14 percent on increased sales and the contribution from insurance relating to the Christchurch earthquakes. More >>
Cavalier turns to FY loss on restructuring costs
Monday, 20 August 2012, 11:35 am | BusinessDesk
Aug. 20 (BusinessDesk) - Cavalier Corp, New Zealand's only listed carpet marker, turned to a full-year loss on costs to restructure its business in response to deteriorating trading conditions in New Zealand and Australia. More >>
NZ services sector remains in expansion in July, PSI shows
Monday, 20 August 2012, 11:26 am | BusinessDesk
Aug. 20 (BusinessDesk) - New Zealand’s services sector remained in expansion in July, though the pace eased for a second straight month. New orders/business continued to show the strongest growth. More >>
Fonterra has record quarterly exports, hires own vessel
Monday, 20 August 2012, 11:10 am | BusinessDesk
Aug 20 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest exporter of dairy products, achieved record export in the final three months of its season of 620,000 tonnes. More >>
NZX confirms 1H profit slump; Agri info is bright spot
Monday, 20 August 2012, 11:02 am | BusinessDesk
Aug. 20 (BusinessDesk) - NZX, New Zealand’s stock market operator, posted a 28 percent drop in first-half profit as revenue growth stalled and expenses rose, squeezing its earnings margin. More >>
Dominion Finance High Court trials set for Feb. 11, June 17
Monday, 20 August 2012, 10:02 am | BusinessDesk
Aug. 20 (BusinessDesk) - The High Court trials of the directors of failed finance company Dominion Finance Holdings and its subsidiaries are set down for Feb. 11 and June 17 next year, according to the eighth liquidator’s report. More >>
Rakon to sign US$56 mln contract with China’s Huawei
Monday, 20 August 2012, 9:05 am | BusinessDesk
Aug. 20 (BusinessDesk) - Rakon, the communications components maker which dropped out of the NZX 50 Index in June, will today sign a letter of intent with Huawei Technologies, quadrupling its sales to the Chinese-based company to US$56 million over the next ... More >>
NZ dollar falls as Fed stimulus expectations wane
Monday, 20 August 2012, 8:47 am | BusinessDesk
Aug. 20 (BusinessDesk) - The New Zealand dollar fell after signs of life in the US economy sapped expectations for more monetary stimulus and as investors struggled to decipher clues about Europe's plans to tackle its debt-crisis. More >>
World Week Ahead: US housing, earnings, FOMC minutes
Monday, 20 August 2012, 6:35 am | BusinessDesk
Aug. 20 (BusinessDesk) - Data on the US housing market and notes from the latest meeting of US central bank policy makers might help support the upward trend on Wall Street, especially if American corporate earnings due this week, including from Dell, ... More >>
