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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 1330]
Craigs censured, fined $45,000 for trading glitches
Friday, 20 July 2012, 1:01 pm | BusinessDesk
July 20 (BusinessDesk) - Craigs Investment Partners, the Tauranga-based brokerage half-owned by Deutsche Bank, has been censured and fined a total of $45,000 by the NZ Markets Disciplinary Tribunal over two breaches of NZX trading rules related to ... More >>
MIDDAY UPDATE: NZ tourist arrivals rise; PGC exits Heartland
Friday, 20 July 2012, 12:02 pm | BusinessDesk
July 20 (BusinessDesk) - The number of short-term arrivals rose to a seven-year high for the month of June as a flood of Australians and Chinese tourists came to visit last month. More >>
NZ tourist arrivals highest for month of June in 7 years
Friday, 20 July 2012, 11:45 am | BusinessDesk
NZ tourist arrivals highest for month of June in 7 years, led by Australians, Chinese More >>
MediaWorks owner teams up with former rival on restructure
Friday, 20 July 2012, 11:11 am | BusinessDesk
July 20 (BusinessDesk) - MediaWorks NZ owner Ironbridge Capital has teamed up with former rival TPG Capital to put forward a restructuring proposal to the broadcaster's lenders. More >>
Pyne Gould completes Heartland exit in $7.9M sale
Friday, 20 July 2012, 11:00 am | BusinessDesk
July 20 (BusinessDesk) - Pyne Gould Corp, whose Perpetual Trust unit is being investigated by the market watchdog, completed its exit from lender Heartland New Zealand, selling the rest of its stake for $7.9 million. More >>
NZ Snack Foods FY profit falls 50% on costs, impairment
Friday, 20 July 2012, 10:50 am | BusinessDesk
NZ Snack Foods FY profit falls 50% after costs rise faster than sales, brand impairment charge More >>
Infratil's Brown injured after being hit by company bus
Friday, 20 July 2012, 9:13 am | BusinessDesk
July 20 (BusinessDesk) - Tim Brown, head of capital markets and economic regulation at Infratil, was seriously injured by being hit by a Wellington bus owned by the company’s NZ Bus unit. More >>
NZ dollar gains vs. greenback, euro on Fed stimulus bets
Friday, 20 July 2012, 8:37 am | BusinessDesk
July 20 (BusinessDesk) - The New Zealand dollar rose against the greenback and reached a record versus the euro on speculation the Federal Reserve will do more to stimulate the US economy and a sales of Spanish bonds met lukewarm demand. More >>
While you were sleeping: IBM, eBay earnings
Friday, 20 July 2012, 7:42 am | BusinessDesk
July 20 (BusinessDesk) – Better-than-expected corporate earnings helped lift equities on both sides of the Atlantic, though a slew of disappointing data on the US economy kept a lid on gains. More >>
MARKET CLOSE: NZ shares rise on earnings optimism
Thursday, 19 July 2012, 5:39 pm | BusinessDesk
July 19 (BusinessDesk) - New Zealand shares rose on optimism the looming earning season may be brighter than feared. Companies ranging from retailer Warehouse Group to manufacturer Skellerup paced the advance. The NZX 50 Index rose 11.72 points, ... More >>
Wellington ‘super-city’ options out for consultation
Thursday, 19 July 2012, 5:31 pm | BusinessDesk
July 19 (BusinessDesk) - Wellington's regional council has issued a consultation document openly discussing the potential for substantial savings on operational spending and capital investment if the region's existing nine local governments work together ... More >>
Wellington ‘super-city’ options out for consultation
Thursday, 19 July 2012, 5:31 pm | BusinessDesk
July 19 (BusinessDesk) - Wellington's regional council has issued a consultation document openly discussing the potential for substantial savings on operational spending and capital investment if the region's existing nine local governments work together ... More >>
NZ dollar holds near 7-week low vs Australian
Thursday, 19 July 2012, 5:30 pm | BusinessDesk
July 19 (BusinessDesk) - The New Zealand dollar held near a seven-week low against its trans-Tasman counterpart as Australia's interest rate advantage widened on the weak local inflation earlier this week and ahead of next week's Reserve Bank of New ... More >>
Maersk NZ says hike in container rates to US ‘won’t be last'
Thursday, 19 July 2012, 5:25 pm | BusinessDesk
July 19 (BusinessDesk) - Maersk is lifting container rates between New Zealand and the US in the first of what may be a series of price increases as the world's biggest container shipping line seeks a return to profit. More >>
Woosh writes down assets by $5.9M in sale to Craig Wireless
Thursday, 19 July 2012, 5:04 pm | BusinessDesk
July 19 (BusinessDesk) - Woosh Wireless, the local wireless internet service provider, wrote down the value of its assets by $5.9 million in its sale to Californian telecommunications company Craig Wireless. More >>
Govt puts out feelers for up to 60,000 sqm of Wgtn space
Thursday, 19 July 2012, 4:17 pm | BusinessDesk
July 19 (BusinessDesk) - The government is calling for ideas to house core ministries in Wellington in as much as 60,000 square metres of space following the creation of the new super Ministry of Business, Innovation and Employment. More >>
Energy Mad outlines risks for return to profit
Thursday, 19 July 2012, 3:35 pm | BusinessDesk
July 19 (BusinessDesk) - Energy efficient lightbulb innovator and marketer Energy Mad says it's committed to hitting the 2012/13 $4 million net profit projection in the prospectus for last year's share float, after badly missing its targets within ... More >>
McCully to seek cuts in MFAT restructuring costs
Thursday, 19 July 2012, 2:39 pm | BusinessDesk
July 19 (BusinessDesk) - Foreign Affairs Minister Murray McCully says he's looking for cuts in the $2.8 million budgeted for consultants to complete his ministry's controversial restructuring. More >>
Methven links hikes in directors' fees to profit growth
Thursday, 19 July 2012, 12:54 pm | BusinessDesk
July 19 (BusinessDesk) - Methven, the tapware and bathroom fittings manufacturer, says it will only hike directors’ fees if the company increases its net profit by more than 20 percent. More >>
From the Farm: Procurement still a battlefield
Thursday, 19 July 2012, 12:43 pm | BusinessDesk
Did meat companies stuff up the opening schedule for livestock procurement this season? That’s the view of Southland’s Blue Sky Meats, which has just reported something on an annus horribilis, at least in the second half. More >>
