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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 1318]
NZ property values extend gains in July: QV
Thursday, 9 August 2012, 12:33 pm | BusinessDesk
Aug 9 (BusinessDesk) - New Zealand property values extended their gains in July as homes in Auckland and Christchurch continue to appreciate amid a shortage of supply, according to government valuer Quotable Value. More >>
MIDDAY UPDATE: NZ jobless rate rises to 6.8%
Thursday, 9 August 2012, 12:17 pm | BusinessDesk
MIDDAY UPDATE: NZ jobless rate unexpectedly rises to 6.8%; TelstraClear lifts earnings by 18% More >>
Reserve Bank may delay rate hikes as unemployment stays high
Thursday, 9 August 2012, 12:14 pm | BusinessDesk
Aug 9 (BusinessDesk) - The Reserve Bank may have to push out its forecast track for higher interest rates as the nation's stubbornly high level of joblessness confounds economists seeing signs of growth in the economy. More >>
Kiwibank consolidates KiwiSaver in Gareth Morgan brand
Thursday, 9 August 2012, 11:49 am | BusinessDesk
Aug. 9 (BusinessDesk) – Kiwibank, state-owned New Zealand Post’s lending subsidiary, is consolidating its KiwiSaver scheme within its newly acquired Gareth Morgan Investments business. More >>
TelstraClear lifts earnings by 18% ahead of sale to Vodafone
Thursday, 9 August 2012, 11:44 am | BusinessDesk
Aug 9 (BusinessDesk) - TelstraClear, the New Zealand phone company that Telstra has agreed to sell to Vodafone, lifted full-year earnings by 18 percent before an impairment charge on the business. More >>
IRG sells Tauranga office for undisclosed sum
Thursday, 9 August 2012, 11:17 am | BusinessDesk
Aug. 9 (BusinessDesk) - Investment Research Group, the NZAX-listed financial advisory and media company, has sold its Tauranga office to one of its investment advisers for an undisclosed sum. More >>
NZ jobless rate unexpectedly rises to 6.8%, kiwi tumbles
Thursday, 9 August 2012, 10:59 am | BusinessDesk
NZ jobless rate unexpectedly rises to 6.8% in 2Q as jobs growth stalls; kiwi tumbles More >>
Insured Group head Miller hospitalized, prospectus withdrawn
Thursday, 9 August 2012, 10:34 am | BusinessDesk
Aug. 9 (BusinessDesk) - Insured Group, the Australian insurer which used Lombard Group for a backdoor listing on the NZX, has withdrawn a prospectus to raise $2.25 million in Australia but details of the announcement have been delayed because managing ... More >>
Horizon Energy buys heating, ventilation assets for $5.2M
Thursday, 9 August 2012, 9:52 am | BusinessDesk
Aug. 9 (BusinessDesk) - Horizon Energy Distribution, which distributes electricity in the eastern Bay of Plenty, has purchased contract heating, ventilation and air-conditioning businesses Hastie New Zealand , Aquaheat Industries and Professional Building Services ... More >>
CORRECT: NZ dollar gains ahead of jobs figures
Thursday, 9 August 2012, 9:30 am | BusinessDesk
Aug. 9 (BusinessDesk) - The New Zealand dollar rose against the greenback and the euro before government figures expected to show the jobless rate fell in the second quarter, underlining the nation’s relatively resilient economic performance. More >>
TrustPower sets interest rate of 6.75% on 7-year bonds
Thursday, 9 August 2012, 9:26 am | BusinessDesk
Aug. 9 (BusinessDesk) - TrustPower, the utility controlled by Infratil, has set a 6.75 percent interest rate on its seven- year bonds, which it is issuing to help repay maturing bonds and for working capital. More >>
Rio Tinto seeks to vary Meridian contract for Bluff smelter
Thursday, 9 August 2012, 9:19 am | BusinessDesk
Aug. 9 (BusinessDesk) - Meridian Energy, one of the state-owned power companies earmarked for partial sale, says Rio Tinto’s Pacific Aluminium unit wants to vary the terms of its electricity supply contract for the aluminium smelter at Bluff. More >>
Mainfreight 1Q profit falls 15% as Europe dents sales
Thursday, 9 August 2012, 9:18 am | BusinessDesk
Aug. 9 (BusinessDesk) - Mainfreight, the biggest road transport company listed on the NZX 50 Index, posted a 15 percent decline in first-quarter profit as ailing European economies offset strong growth in sales in the rest of the world. More >>
NZ dollar gains before jobs data, Chinese indicators
Thursday, 9 August 2012, 8:52 am | BusinessDesk
Aug. 9 (BusinessDesk) - The New Zealand dollar rose against the greenback and the euro before government figures expected to show the jobless rate fell in the second quarter, underlining the nation’s relatively resilient economic performance. More >>
While you were sleeping: Mixed markets, mixed mood
Thursday, 9 August 2012, 7:39 am | BusinessDesk
August 9 (BusinessDesk) – Wall Street found little reason to continue the gains of the previous three sessions amid lukewarm US productivity data and downgrades in economic growth forecasts in Europe. More >>
MARKET CLOSE: NZ shares fall from highs ahead of earnings
Wednesday, 8 August 2012, 5:52 pm | BusinessDesk
Aug. 8 (BusinessDesk) - New Zealand shares fell in the lead up to earnings season amid speculation prices have strengthened enough already to reflect the outlook for stronger earnings. The decline was paced by Telecom, Ryman Healthcare and Mainfreight. More >>
NZ dollar falls; trans-Tasman policymakers talk down dollars
Wednesday, 8 August 2012, 5:29 pm | BusinessDesk
Aug. 8 (BusinessDesk) - The New Zealand dollar extended its decline in the local trading session after policymakers on both sides of the Tasman tried to talk down their respective currencies yesterday, and as weak European data snapped investors ... More >>
From the Farm: The NAIT bureaucracy
Wednesday, 8 August 2012, 5:27 pm | BusinessDesk
My word, the National Animal Identification and Tracing scheme sounds like a bunch of extra work for PICAs, as people in charge of NAIT animals are to be known. That means everyone farming, selling or processing cattle and dairy cows. More >>
MIDDAY UPDATE: Court rejects appeal over Crafar farm sale
Wednesday, 8 August 2012, 11:58 am | BusinessDesk
MIDDAY UPDATE: Court rejects appeal over Crafar farm sale Aug. 8 (BusinessDesk) - Shanghai Pengxin has welcomed a decision by the Court of Appeal to reject an attempt by Michael Fay and two Maori trusts to block the sale of the Crafar farms, saying ... More >>
Court deems Pengxin has business nous to buy Crafar farms
Wednesday, 8 August 2012, 11:56 am | BusinessDesk
Aug. 8 (BusinessDesk) - The Court of Appeal has turned down a bid by merchant banker Michael Fay and two Maori trusts to stop the sale of 16 Central North Island farms, saying it was satisfied with the general business acumen and experience of the Chinese ... More >>
