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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 1314]
MARKET CLOSE: NZ shares rise on haven buying, earnings
Wednesday, 15 August 2012, 5:56 pm | BusinessDesk
New Zealand shares rose to the highest level since mid-2008, as the relative appeal of the nation’s economic prospects drew overseas investors to companies meeting or beating earnings guidance. Goodman Fielder and Rubicon gained. More >>
NZ dollar falls to 3-wk low vs. greenback on better US data
Wednesday, 15 August 2012, 5:39 pm | BusinessDesk
The New Zealand dollar fell to a three-week low versus the greenback on speculation stronger-than-expected US data weakens the prospects for monetary easing by the Federal Reserve. More >>
Feltex shareholders' counsel seeks disclosure of funding
Wednesday, 15 August 2012, 5:19 pm | BusinessDesk
Aug. 15 (BusinessDesk) - Counsel for the 3,000 Feltex shareholders taking a class action against the failed carpet maker's directors will ask permission from its British backer to share some of the terms of its funding arrangements to ease concerns from ... More >>
BNZ names Adrienne Duarte as CFO, replacing Christie
Wednesday, 15 August 2012, 3:03 pm | BusinessDesk
Aug. 15 (BusinessDesk) - Bank of New Zealand, the local unit of National Australia Bank, named Adrienne Duarte as chief financial officer as Ken Christie moves up to a role with the parent. More >>
Feltex directors seek identity of UK funder for class action
Wednesday, 15 August 2012, 2:18 pm | BusinessDesk
Aug. 15 (BusinessDesk) - The directors for failed carpet maker Feltex want to know the identity of a British backer for the looming class action, and are seeking to oust Tony Gavigan, the driving force behind the proceedings, the Court of Appeal ... More >>
'New Zealand Story’ branding to rival 100% Pure
Wednesday, 15 August 2012, 2:09 pm | BusinessDesk
Aug. 15 (BusinessDesk) – The government has commissioned three government agencies to develop the "New Zealand Story" as an aid to export growth but it says the new tools don’t signal the end of 100% Pure as a national brand. More >>
CBA gains 9% from NZ assets: ASB profit up, Sovereign down
Wednesday, 15 August 2012, 12:27 pm | BusinessDesk
Aug. 15 (BusinessDesk) - ASB Bank, the lender owned by Commonwealth Bank of Australia, had a 15 percent gain in cash profit, while associated insurer Sovereign had a 40 percent decline, giving Australia’s biggest bank an overall 9 percent gain in earnings ... More >>
Kiwis' retirement savings confidence falls: ANZ
Wednesday, 15 August 2012, 12:19 pm | BusinessDesk
Aug. 15 (BusinessDesk) - Kiwis aren't confident they will reach their retirement saving goals, according to ANZ's retirement savings confidence barometer. More >>
MIDDAY UPDATE: SkyCity meets guidance; NZ dollar falls
Wednesday, 15 August 2012, 12:16 pm | BusinessDesk
Aug. 15 (BusinessDesk) – SkyCity Entertainment Group, the casino company in talks with the government to build Auckland’s convention centre, lifted annual profit by 8 percent, meeting guidance, on growth from New Zealand’s largest city and a ... More >>
SkyCity meets guidance with 8% gain in normalised profit
Wednesday, 15 August 2012, 10:34 am | BusinessDesk
Aug. 15 (BusinessDesk) - SkyCity Entertainment Group, the casino company in talks with the government to build Auckland’s convention centre, lifted annual profit by 8 percent, meeting guidance, on growth from New Zealand’s largest city and a ... More >>
MediaWorks takes $22.1M provision for tax case over notes
Wednesday, 15 August 2012, 9:55 am | BusinessDesk
Aug. 15 (BusinessDesk) - MediaWorks NZ, the broadcaster whose stable includes TV3 and Four, and radio stations including the Rock and MoreFM, has taken a $22.1 million provision for settlement of its disputed tax case with the Inland Revenue Department ... More >>
Diligent's soaring sales drive 2Q profit of US$1.46M
Wednesday, 15 August 2012, 9:37 am | BusinessDesk
Aug. 15 (BusinessDesk) - Software company Diligent Board Member Services' spectacular sales growth is making it increasingly profitable. More >>
Rubicon’s ArborGen buys CellFor for C$1.1M plus warrants
Wednesday, 15 August 2012, 9:27 am | BusinessDesk
Rubicon’s ArborGen buys CellFor for C$1.1 mln plus warrants over ArborGen shares More >>
Blue Star delists almost worthless bonds to ‘protect" sale
Wednesday, 15 August 2012, 9:26 am | BusinessDesk
Aug. 15 (BusinessDesk) - Blue Star Group’s near worthless bonds are to be delisted from the NZDX market as the printing group seeks to avoid public notification of its annual results to “protect the integrity” of efforts to sell the business. More >>
NZ dollar falls after US, German data beats estimates
Wednesday, 15 August 2012, 8:25 am | BusinessDesk
Aug. 15 (BusinessDesk) - The New Zealand dollar shed almost half a US cent after better-than-expected data on both sides of the Atlantic pushed equities higher, easing speculation that global growth is dwindling. More >>
While you were sleeping: US consumer delivers
Wednesday, 15 August 2012, 7:19 am | BusinessDesk
August 15 (BusinessDesk) – Wall Street advanced, along with equities in Europe, amid reports of better-than-expected economic resilience on both sides of the pond. More >>
MARKET CLOSE: NZ shares rise; Goodman Fielder, Contact gain
Tuesday, 14 August 2012, 5:37 pm | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand shares rose for a the third day, led by Goodman Fielder after the food maker narrowed its loss and Contact Energy posted earnings that beat estimates. The NZX 50 index climbed 13.91 points, or 0.4 percent, to 3608.88. ... More >>
NZ dollar holds near two-week low amid global concerns
Tuesday, 14 August 2012, 5:13 pm | BusinessDesk
Aug. 14 (BusinessDesk) - The New Zealand dollar held near a two-week low after stronger-than-expected retail sales failed to spur optimism among investors who are downbeat about global growth prospects. More >>
Hannah on SMEs: How much should I charge?
Tuesday, 14 August 2012, 3:17 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Supply and demand is how prices get set. Under this basic economic model of price determination, when price is pitched right, products are lapped up by consumers, cover a business's costs and leave you with a little something ... More >>
Contact sees lower headcount as electricity demand stagnates
Tuesday, 14 August 2012, 2:17 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Contact Energy expects to reduce its headcount from around 1200 staff and contractors at present as it stops building new power plants in response to stagnant New Zealand electricity demand. More >>
