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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 1321]
CORRECTION: Auckland Airport development stymied
Friday, 3 August 2012, 3:06 pm | BusinessDesk
Aug. 3 (BusinessDesk) - The Commerce Commission's straitjacket approach to regulating returns on Auckland International Airport's assets is strangling the country's main gateway airport from necessary expansion. More >>
Court of Appeal upholds record $12M fine against Telecom
Friday, 3 August 2012, 1:50 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Telecom Corp., the biggest company on the NZX 50 Index, has failed to overturn a record $12 million fine imposed for breaching competition law by misusing its market power. More >>
Majority owner tries to exit Rainbow's End again
Friday, 3 August 2012, 1:23 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Garlow Management, the trustee for the estate of Canadian George Ryerson Gardiner, is to make a second attempt to sell its controlling stake in New Zealand Experience, which operates the Rainbow’s End theme park in south ... More >>
Tax take from wealthy fell when top rate went up: Treasury
Friday, 3 August 2012, 1:00 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Treasury research has found the proportion of all tax paid by the highest earners fell after the 2001 tax changes that took the top personal income tax rate to 39 percent from 33 percent. More >>
Shell and Todd in dispute over oil field work programme
Friday, 3 August 2012, 12:39 pm | BusinessDesk
Aug. 3 (BusinessDesk) - The joint owners of some of New Zealand's largest oil and gas fields, Shell New Zealand and Todd Energy, are in dispute over non-payment for services provided for work on the Maui, Pohokura, and Kapuni fields. More >>
MIDDAY UPDATE: NZX figures show rise of automated trades
Friday, 3 August 2012, 11:53 am | BusinessDesk
Aug. 3 (BusinessDesk) - NZX cash market trading rose in volume while falling in value last month, reflecting a global trend driven by increased use of automated trading that lets computers decide how to execute trades at the best levels. More >>
NZX figures show trend to smaller, automated trades
Friday, 3 August 2012, 11:01 am | BusinessDesk
Aug. 3 (BusinessDesk) - NZX cash market trading rose in volume while falling in value last month, reflecting a global trend driven by increased use of automated trading that lets computers decide how to execute trades at the best levels. More >>
Auckland rising house sales drive listings to 7-year low
Friday, 3 August 2012, 11:00 am | BusinessDesk
Aug. 3 (BusinessDesk) - Auckland house sales jumped 28 percent last month, driving the number of listings down to a seven-year low, according to the city's biggest real estate agency. More >>
Briscoe 1H profit jumps 26% to $13M on sales, margin growth
Friday, 3 August 2012, 9:36 am | BusinessDesk
Aug. 3 (BusinessDesk) - Briscoe Group, the homeware and sporting goods retailer, posted a 26 percent gain in first-half profit on "strong sales and margin performance." More >>
Telecom Retail boss Gourdie to leave at the end of October
Friday, 3 August 2012, 9:20 am | BusinessDesk
Aug. 3 (BusinessDesk) - Telecom's head of retail Alan Gourdie will leave the country's biggest listed company at the end of October, just two months into the telecommunications group's new era under a new chief executive. More >>
Natural History unit lifts profit 73% on sales of shows
Friday, 3 August 2012, 9:08 am | BusinessDesk
Fox’s Natural History unit lifts profit 73% on sales of ‘I Survived,’ TV shows More >>
NZ dollar rises to record vs. euro after ECB disappoints
Friday, 3 August 2012, 8:44 am | BusinessDesk
Aug 03 (BusinessDesk) - The New Zealand dollar rose to a record high against the euro after European Central Bank President Mario Draghi provided investors with assurances but no immediate action to curb the region's debt crisis. More >>
While you were sleeping: ECB disappoints too
Friday, 3 August 2012, 7:28 am | BusinessDesk
August 3 (BusinessDesk) – A day after the US Federal Reserve provided investors with reassurances but little immediate action, the European Central Bank also disappointed markets by doing the same. More >>
MARKET CLOSE: NZ shares rise, Telecom, Fletcher gain
Thursday, 2 August 2012, 5:40 pm | BusinessDesk
Aug. 2 (BusinessDesk) - New Zealand shares traded near a three month high, paced by the biggest company on the bourse, Telecom, and on hopes of better earnings from the country's largest construction company, Fletcher Building. More >>
Hotchin comes out swinging on FMA’s ‘ill-conceived’ case
Thursday, 2 August 2012, 5:31 pm | BusinessDesk
Aug. 2 (BusinessDesk) – Former Hanover Finance boss Mark Hotchin is challenging the Financial Markets Authority to prove the failed finance company’s investors lost out for any other reason than the collapse in the New Zealand property market ... More >>
NZ dollar little changed after Australian data; ECB looms
Thursday, 2 August 2012, 5:21 pm | BusinessDesk
Aug. 2 (BusinessDesk) - The New Zealand dollar was little changed in local trading after figures showing better-than-expected consumer spending in Australian and ahead of the European Central Bank’s review of monetary policy. More >>
Treasury boss Makhlouf eschews corporate largesse
Thursday, 2 August 2012, 3:45 pm | BusinessDesk
Aug 2 (BusinessDesk) - Treasury Secretary Gabriel Makhlouf turned down several invitations to schmooze with private sector high-flyers in the first six months of the year, limiting the risk he will be accused of corporate cronyism. More >>
Government still shooting for September privatisation
Thursday, 2 August 2012, 2:36 pm | BusinessDesk
Aug. 2 (BusinessDesk) - The government is giving the Waitangi Tribunal three weeks to produce its views on Maori claims to water rights so that the partial privatisation of state-owned electricity company MightyRiverPower can go ahead next month. More >>
Auckland Airport development stymied by regulator's rules
Thursday, 2 August 2012, 2:13 pm | BusinessDesk
Aug. 2 (BusinessDesk) - The Commerce Commission's straitjacket approach to regulating returns on Auckland International Airport's assets is strangling the country's main gateway airport from necessary expansion. More >>
ACCC ok with News Corp moving to control Foxtel
Thursday, 2 August 2012, 2:08 pm | BusinessDesk
Aug. 2 (BusinessDesk) - The Australian Competition and Consumer Commission won't oppose News Corp’s A$1.97 billion takeover bid for rival Consolidated Media Holdings which would give the Rupert Murdoch-controlled media group control of Australia's ... More >>
