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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 1315]
Billionaire Foley wins vote for control of NZ Wine Co
Tuesday, 14 August 2012, 1:52 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Foley Family Wines, owned by the California-based billionaire Bill Foley, will take control of New Zealand Wine Company, adding the Grove Mill, Sanctuary and Frog Haven brands to its suite of local wines. More >>
Goodman Fielder takes further charges, narrows annual loss
Tuesday, 14 August 2012, 1:08 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Goodman Fielder posted a narrower full-year loss as the branded food and ingredients company presses on with asset sales, rationalising its line-up of businesses in a subdued Australasian market. More >>
MIDDAY UPDATE: NZ 2Q retail sales jump
Tuesday, 14 August 2012, 11:57 am | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand retail sales rose more than expected in the June quarter as people spent a record amount on cars and auto-parts since the series began in 1995. More >>
BNZ 3Q earnings fall as bad debt charges climb from low base
Tuesday, 14 August 2012, 11:55 am | BusinessDesk
Aug. 14 (BusinessDesk) - Bank of New Zealand, the local unit of National Australia Bank, had a decline in third-quarter earnings, reflecting an increase in the charge for bad debts, which dropped to an "unusually low" level in the prior quarter. More >>
NZ 2Q retail sales climb more than expected on cars, parts
Tuesday, 14 August 2012, 10:55 am | BusinessDesk
NZ 2Q retail sales climb more than expected on record increase in spending on cars, auto-parts More >>
UPDATED: NZ housing confidence up everywhere except Auckland
Tuesday, 14 August 2012, 10:28 am | BusinessDesk
Aug. 14 (BusinessDesk) - Housing confidence remained stable across all regions expect Auckland for the three months to July as prices rose from already elevated levels, according to an ASB survey. More >>
CORRECT: Mid-market businesses overlooked as economic driver
Tuesday, 14 August 2012, 10:18 am | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand's mid-market businesses, those with annual revenue of $2 million to $50 million, are being overlooked as economic drivers despite producing one third of the nation's business revenue and one in three full-time jobs, a new ... More >>
NZ housing confidence rises everywhere except Auckland: ASB
Tuesday, 14 August 2012, 9:48 am | BusinessDesk
Aug. 14 (BusinessDesk) - Housing confidence remained stable across all regions expect Auckland for the three months to July as prices rose from already elevated levels, according to an ASB survey. More >>
Contact Energy beats FY profit forecast
Tuesday, 14 August 2012, 9:19 am | BusinessDesk
Aug. 14 (BusinessDesk) - Contact Energy, the country's biggest listed electricity generator and retailer, beat expectations as it lifted annual profit 27 percent as low rainfall in hydro catchments saw Contact run its gas-fired generation units harder ... More >>
NZ mid-market businesses overlooked as economic driver
Tuesday, 14 August 2012, 9:03 am | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand's mid-market businesses, those with annual revenue of $2 million to $50 million, are being overlooked as economic drivers despite producing one third of the nation's business revenue and one in three full-time jobs, a new ... More >>
NZ dollar falls to 2-week low before retail sales
Tuesday, 14 August 2012, 9:00 am | BusinessDesk
Aug. 14 (BusinessDesk) - The New Zealand dollar fell to a two-week low after weaker-than-expected Japanese growth figures sapped risk appetite and traders awaited retail sales data locally and economic growth and inflation data out of Europe. More >>
While you were sleeping: Japan's economy disappoints
Tuesday, 14 August 2012, 7:18 am | BusinessDesk
August 14 (BusinessDesk) – Stocks fell on both sides of the Atlantic after data showing that the Japanese economy is expanding at a slower rate than expected highlighted the global struggle. More >>
Opus 1H profit slips 4.8%
Monday, 13 August 2012, 6:10 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Opus International Consultants, the engineering firm with one of four mandates to lead design the rebuild of Christchurch city, reported a 4.8 percent drop in first-half profit, below expectations, in a weak and uncertain ... More >>
MARKET CLOSE: NZX 50 gains on earnings; Freightways up
Monday, 13 August 2012, 5:46 pm | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index to the highest in more than three months, after earnings from Freightways beat estimates, stoking optimism for the corporate reporting season. Fletcher Building gained to ... More >>
NZ dollar holds above 81 US cts after tepid Japanese GDP
Monday, 13 August 2012, 5:24 pm | BusinessDesk
Aug. 13 (BusinessDesk) - The New Zealand dollar held above 81 US cents in local trading after weak Japanese growth figures, as investors await data on gross domestic product for the euro zone. More >>
Reading's NZ cinemas get boost from reopened ChCh complex
Monday, 13 August 2012, 2:39 pm | BusinessDesk
Aug 13 (BusinessDesk) - Reading International, the Nasdaq-listed cinema chain, reported a boost in patrons to its New Zealand theatres in the June quarter after reopening its Christchurch Palms complex following last year's earthquake. More >>
JB Hi-Fi's NZ stores post first operating profit; sales rise
Monday, 13 August 2012, 12:03 pm | BusinessDesk
JB Hi-Fi's NZ stores post first operating profit as local unit boosts sales by 18% More >>
MIDDAY UPDATE: NZ food prices rise in July; kiwi falls
Monday, 13 August 2012, 11:56 am | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand food prices rose last month, led by a spike in the price of kumara, while prices fell for the year, led by cheaper vegetables, dairy and lamb products. More >>
Meridian won't ‘take one for the team’ over smelter: Binns
Monday, 13 August 2012, 11:53 am | BusinessDesk
Aug 13 (BusinessDesk) - State-owned Meridian Energy won’t "take one for the team" and accept uncommercial terms for electricity to keep the Rio Tinto-controlled Tiwai Point aluminium smelter open, says chief executive Mark Binns. More >>
NZ food prices rise 0.2% in July as kumara spikes
Monday, 13 August 2012, 11:18 am | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand food prices rose last month, led by a spike in the price of kumara, while prices fell for the year, led by cheaper vegetables, dairy and lamb products. More >>
