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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 1349]
Savings group proposes national "tithing" to fund pensions
Sunday, 17 June 2012, 11:14 am | BusinessDesk
June 17 (BusinessDesk) - A major new report on the pension system proposes New Zealanders gradually lifting their savings to 10 percent of annual income, and allowing the age of entitlement fir the universal state pensions to move up as life expectancy ... More >>
MONEY TALKS: Wellington's bid for safer investing
Saturday, 16 June 2012, 1:48 pm | BusinessDesk
June 15 (BusinessDesk) - People have been complaining for some time that the Securities Act has been in place for far too long without revision and is in dire need of an overhaul, so it's heartening to see the buzzing in the Beehive as we near the end ... More >>
MARKET CLOSE: NZ shares gain; Fletcher, Telecom pace advance
Friday, 15 June 2012, 6:27 pm | BusinessDesk
June 15 (BusinessDesk) - New Zealand shares rose, paced by the biggest companies on the bourse, Telecom and Fletcher Building, as investors were lured back to a market near a three-month low. More >>
NZ dollar heads for 1.7% weekly gain in run-up to Greek poll
Friday, 15 June 2012, 5:56 pm | BusinessDesk
NZ dollar poised for 1.7% gain this week in run-up to Greek election More >>
Xero to ask shareholders to double board fees to add talent
Friday, 15 June 2012, 5:47 pm | BusinessDesk
June 15 (BusinessDesk) – Xero, the cloud-based accounting services company, is asking shareholders to approve a doubling of the pool of fees for directors, saying it wants to add two board members and needs to attract talent from offshore. More >>
NZ regulator scotches Euronet's Ezi-Pay bid
Friday, 15 June 2012, 4:56 pm | BusinessDesk
June 15 (BusinessDesk) – New Zealand’s Commerce Commission has turned down an application by US payment processor Euronet Worldwide to buy New Zealand's Ezi-Pay, the first time the regulator has rejected a merger application since 2008. More >>
Expats ready to call NZ home even as costs rise, Mercer says
Friday, 15 June 2012, 4:40 pm | BusinessDesk
June 15 (BusinessDesk) - Expatriates still think New Zealand is an attractive place to call home, even as the cost of living in Auckland and Wellington surges to record highs. More >>
NZ consumer confidence eases in June as caution prevails
Friday, 15 June 2012, 1:51 pm | BusinessDesk
June 15 (BusinessDesk) - New Zealand consumer confidence eased in June as consumers remained cautious about spending money. More >>
Commerce Commission takes ‘extreme’ positions on telco rules
Friday, 15 June 2012, 1:39 pm | BusinessDesk
June 15 (BusinessDesk) - New Zealand is gaining an international reputation for "extreme" and unpredictable regulation by its competition watchdog, the Commerce Commission, says Andrew Bascand, managing director of fund manager Harbour Asset Management. More >>
Tourism Holdings picks up KEA motorhome licence in Australia
Friday, 15 June 2012, 1:01 pm | BusinessDesk
June 15 (BusinessDesk) – Tourism Holdings, the NZX-listed campervan rental company, has acquired the KEA Rentals and Sales Motorhome brands in Australia from KEA New Zealand for an undisclosed sum. More >>
Director gets home detention in ACC bribery case, SFO says
Friday, 15 June 2012, 12:35 pm | BusinessDesk
June 15 (BusinessDesk) – A construction company director has been sentenced to 11 months home detention after pleading guilty to making a $160,000 bribe to a property manager at the Accident Compensation Corp. More >>
MIDDAY UPDATE: Fonterra buys NZ Dairies’ milk powder plant
Friday, 15 June 2012, 12:05 pm | BusinessDesk
June 15 (BusinessDesk) - Fonterra Cooperative Group has agreed to buy the South Canterbury milk powder plant of New Zealand Dairies, the Russian-owned company went into receivership last month. More >>
Booktrack seeks $3 mln to fund content creation, IP patents
Friday, 15 June 2012, 11:57 am | BusinessDesk
June 15 (BusinessDesk) - Booktrack, the software company that creates soundtracks to accompany e-books, wants to raise up to $3 million to pay for new content creation and intellectual property patents. More >>
Revenue down, earnings up at King Country Energy
Friday, 15 June 2012, 11:44 am | BusinessDesk
June 15 (BusinessDesk) - King Country Energy's profitability improved, despite falling revenues, in the year to March 31, with results released today demonstrating the significance of its recent buy-out of the Mangahao hydro power station for its future ... More >>
NZ manufacturing bounces in May, PMI shows
Friday, 15 June 2012, 11:17 am | BusinessDesk
June 15 (BusinessDesk) - New Zealand's manufacturing sector expanded last month at the fastest clip for the month of May since 2006, led by production and new orders. More >>
Meridian Energy commits $169 mln to new Wellington wind farm
Friday, 15 June 2012, 11:06 am | BusinessDesk
June 15 (BusinessDesk) - Meridian Energy has given the green light to building a new $169 million wind farm in the Ohariu Valley between Wellington and Porirua cities, following the success of its West Wind development just to the south. More >>
RESEND: Fonterra buys NZ Dairies’ milk powder plant
Friday, 15 June 2012, 10:50 am | BusinessDesk
May 18 (BusinessDesk) – Fonterra Cooperative Group has agreed to buy the South Canterbury milk powder plant of New Zealand Dairies, the Russian-owned company that went into receivership last month. More >>
Fonterra buys NZ Dairies’ milk powder plant from receivers
Friday, 15 June 2012, 10:44 am | BusinessDesk
May 18 (BusinessDesk) – Fonterra Cooperative Group has agreed to buy the South Canterbury milk powder plant of New Zealand Dairies, the Russian-owned company the went into receivership last month. More >>
INM to delist NZX shares, haven't traded since 2007
Friday, 15 June 2012, 10:29 am | BusinessDesk
June 15 (BusinessDesk) - Independent News & Media, the Irish parent of Australasia’s APN News & Media, is delisting shares which haven't traded on the New Zealand stock exchange since 2007. More >>
IRG FY loss widens to $1.1M as costs rise
Friday, 15 June 2012, 9:50 am | BusinessDesk
IRG full-year loss widens to $1.1 mln as costs rise; assets under review More >>
