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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 1312]
MARKET CLOSE NZ shares rise; Nuplex up after earnings
Friday, 17 August 2012, 5:30 pm | BusinessDesk
Aug. 17 (BusinessDesk) - New Zealand shares rose, paced by Nuplex Industries after the specialty chemical maker’s earnings growth stalled as it predicted. Chorus gained after the Commerce Commission backed off on plans to investigate the networks ... More >>
NZ dollar poised for 0.5% weekly fall on QEIII doubts
Friday, 17 August 2012, 5:03 pm | BusinessDesk
NZ dollar poised for 0.5 percent weekly fall as US data tarnishes QE3 expectations More >>
Acurity Health says 'don't sell' as offer lags valuation
Friday, 17 August 2012, 4:09 pm | BusinessDesk
Aug. 17 (BusinessDesk) - Acurity Health Group, the private hospital operator formerly known as Wakefield Health, is worth at least 13 percent more than the $6-a-share offer by its two biggest shareholders, according to the independent adviser's report. More >>
MONEY TALKS: Betting against regulation
Friday, 17 August 2012, 3:54 pm | BusinessDesk
The toughest part of making an investment is the prospect that you'll lose your money because something happened that was completely outside your control. More >>
Bridgecorp's Roest gets an extra 3 months jail for Medici
Friday, 17 August 2012, 3:43 pm | BusinessDesk
Aug. 17 (BusinessDesk) - Former Bridgecorp chief financial officer Rob Roest had another three months added to his six-and-a-half year jail term for his role in the $3.5 million fraudulent acquisition and financing of the Medici luxury launch. More >>
Crown, investors get another $35M from Equitable Mortgages
Friday, 17 August 2012, 1:09 pm | BusinessDesk
Aug. 17 (BusinessDesk) - Investors are set to receive $35 million from the receivers of failed lender Equitable Mortgages in the third payment since debenture holders were bailed out through the Crown's retail deposit guarantee scheme almost two years ... More >>
Hotchin trusts lose bid to strike out asset freeze orders
Friday, 17 August 2012, 12:57 pm | BusinessDesk
Aug 17 (BusinessDesk) - The Court of Appeal has turned down a bid by trusts related to Mark Hotchin's family to throw out claims there wasn't a direct link between the assets held in trust and the family beneficiaries. More >>
UPDATED: Nuplex meets guidance as earnings growth stalls
Friday, 17 August 2012, 12:44 pm | BusinessDesk
Aug. 17 (BusinessDesk) - Nuplex Industries' full-year earnings growth stalled, meeting its guidance, as the contribution from newly acquired Viverso and improved resin margins made up for falling volumes and the impact of a high kiwi dollar. The stock ... More >>
Surging power, gas costs drive gain in 2Q producer prices
Friday, 17 August 2012, 12:38 pm | BusinessDesk
Aug. 17 (BusinessDesk) - New Zealand producer input and output prices rose in the second quarter, led by electricity and gas, reflecting low hydro lake levels and conditions in the spot market for power, government figures show. More >>
MIDDAY UPDATE: Skinner, Rowley jailed for fraud
Friday, 17 August 2012, 12:05 pm | BusinessDesk
Aug. 17 (BusinessDesk) - Tax advisers Barrie Skinner and David Rowley were jailed in the High Court in Wellington after being found guilty of reaping $2 million from their fraudulent schemes. More >>
Wellington accountants Skinner, Rowley jailed for fraud
Friday, 17 August 2012, 11:52 am | BusinessDesk
Aug. 17 (BusinessDesk) - Tax advisers Barrie Skinner and David Rowley were jailed in the High Court in Wellington after being found guilty of reaping $2 million from their fraudulent schemes. More >>
Nuplex meets guidance with stalled FY earnings growth
Friday, 17 August 2012, 11:44 am | BusinessDesk
Aug. 17 (BusinessDesk) - Nuplex Industries’ full-year earnings growth stalled, meeting its guidance, as the contribution from newly acquired Viverso and improved resin margins made up for falling volumes and the impact of a high kiwi dollar. The ... More >>
APN 1H loss triples on A$485M charge on NZ publishing assets
Friday, 17 August 2012, 11:08 am | BusinessDesk
APN 1H loss triples on A$485M charge against NZ publishing assets in ongoing review More >>
ANZ Bank boosts NZ market share in 3Q as margins shrink
Friday, 17 August 2012, 10:20 am | BusinessDesk
Aug. 17 (BusinessDesk) - Australia & New Zealand Banking Group grabbed more local market share in the third-quarter, though increased competition for loans and deposits took some of the steam out of its margins. More >>
Transpower pays $205M FY dividend as it debt-funds upgrade
Friday, 17 August 2012, 10:14 am | BusinessDesk
Aug. 17 (BusinessDesk) - Transpower, the state-owned electricity grid company, will pay a $205 million final dividend after opting to use more debt to fund the upgrade of its network and posting an 8 percent increase in annual profit. More >>
Michael Hill FY profit up 5.8%, Australia growth slows
Friday, 17 August 2012, 9:47 am | BusinessDesk
Aug. 17 (BusinessDesk) - Michael Hill International, the listed jewellery chain, lifted annual profit by 5.8 percent as recovering sales in New Zealand, Canada and the US made up for shrinking sales in Australia, which will be the current year's ... More >>
Antitrust regulator backs off probe into Chorus copper lines
Friday, 17 August 2012, 9:39 am | BusinessDesk
Aug. 17 (BusinessDesk) - The Commerce Commission has backed off the view that it needs to investigate a service on Chorus's copper telecommunications network as it mulls the regulated pricing regime for the ageing lines. More >>
NZ dollar gains after Germany's Merkel backs ECB bond buying
Friday, 17 August 2012, 8:41 am | BusinessDesk
NZ dollar climbs more than half a US cent after Germany's Merkel backs ECB bond buying More >>
While you were sleeping: US data, Merkel buoy markets
Friday, 17 August 2012, 7:27 am | BusinessDesk
August 17 (BusinessDesk) – Wall Street found reasons to rally as Cisco's results surpassed expectations, the latest US economic data surprised on the upside and German Chancellor Angela Merkel signalled conditional support for ECB bond buying. More >>
MARKET CLOSE: NZ shares fall, led by Goodman Fielder, TEL
Thursday, 16 August 2012, 5:27 pm | BusinessDesk
Aug. 16 (BusinessDesk) - New Zealand shares fell, led by Goodman Fielder after the company scotched media reports of a takeover offer and telecommunications company, Telecom declined from its highest level since August 2008. More >>
