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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 1353]
Young Kiwis face higher taxes to pay for pensions: FSC
Monday, 11 June 2012, 9:48 am | BusinessDesk
June 11 (BusinessDesk) - Young New Zealanders won't be able to access universal superannuation the country current enjoys without facing significantly higher taxes, or cutting the pension's entitlements, according to the Financial Services Council. More >>
Opus JV wins 7-year roading contract with UK’s Hertfordshire
Monday, 11 June 2012, 9:41 am | BusinessDesk
June 11 (BusinessDesk) - Opus International Consultants, the Wellington-based engineering consultancy, has won a seven-year contract for road management services to the UK’s Hertfordshire County Council, creating adding about 100 people to its team in Britain. More >>
NZ dollar gains as Europe agrees to 100B euro deal for Spain
Monday, 11 June 2012, 8:45 am | BusinessDesk
June 11 (BusinessDesk) - The New Zealand dollar gained more than half a US cent after European policymakers agreed to a 100 billion euro rescue package for Spain's struggling banks, stoking demand for high-yielding, or riskier, currencies such as the kiwi. More >>
MARKET CLOSE: NZ shares fall; Telecom departs NYSE
Friday, 8 June 2012, 6:02 pm | BusinessDesk
June 8 (BusinessDesk) – New Zealand shares fell, paced by Telecom as the biggest company on the bourse said it would delist its NYSE-traded American depositary receipts and that it would meet profit guidance by cutting costs. Steel & Tube, which ... More >>
NZ dollar falls as Bernanke shies off QE3, China data looms
Friday, 8 June 2012, 5:20 pm | BusinessDesk
June 8 (BusinessDesk) - The New Zealand dollar ended a five-day rally as US Federal Reserve chair Ben Bernanke shied away from hinting at injecting more stimulus into the world's biggest economy, sapping investors' confidence for riskier, or higher-yielding, ... More >>
Warehouse granted approval to delist from ASX
Friday, 8 June 2012, 4:06 pm | BusinessDesk
June 8 (BusinessDesk) - Warehouse Group, the biggest retailer on the NZX 50 Index, has been given approval to delist from the Australian stock exchange after high costs forced it to review its duel listing. More >>
MONEY TALKS: The latest kiwi tech craze - Diligent or Xero?
Friday, 8 June 2012, 3:42 pm | BusinessDesk
June 8 (BusinessDesk) - The New Zealand stock exchange accepted two of the highest-flying listed tech companies into its benchmark NZX 50 Index this week. Xero and Diligent Board Member Services have ousted a couple of manufacturers. More >>
NZ firms to face GST on late fees under amended tax bill
Friday, 8 June 2012, 3:09 pm | BusinessDesk
June 8 (BusinessDesk) – New Zealand businesses would face “effectively a new tax” as a result of the finance and expenditure committee’s tweaks to a tax bill that impose goods and services tax on late fees, accounting firm PwC says. More >>
NZ puts 23 oil, gas exploration permits up for tender
Friday, 8 June 2012, 2:53 pm | BusinessDesk
June 8 (BusinessDesk) - The Ministry of Economic Development has put 23 exploration blocks, mainly offshore, up for tender in its annual tender round. More >>
Prospects dim NZ to follow Australia, cut rates; OCR on hold
Friday, 8 June 2012, 2:33 pm | BusinessDesk
Traders less certain NZ will follow Australia and cut rates; no change seen at next OCR review More >>
MIDDAY UPDATE: NZ dollar pares gains on lack of US QE3
Friday, 8 June 2012, 11:56 am | BusinessDesk
June 8 (BusinessDesk) - The New Zealand dollar fell from a one-month high after Federal Reserve Chairmen Ben Bernanke failed to signal further quantitative easing for the US, damping kiwi sentiment that had been lifted by China's unexpected interest cuts. More >>
Telecom affirms 2H guidance on cost cutting, cheaper finance
Friday, 8 June 2012, 9:53 am | BusinessDesk
June 8 (BusinessDesk) – Telecom, the biggest company on the NZX 50 Index, affirmed its second-half guidance, saying cost cutting and lower borrowing costs have helped keep earnings on track even as competitors chased market share. More >>
NZ dollar should be 15% lower to cut current account: IMF
Friday, 8 June 2012, 9:45 am | BusinessDesk
June 8 (BusinessDesk) - The New Zealand dollar needs to be 15 percent lower to bring the nation's current account deficit to a more sustainable level, according to the International Monetary Fund. More >>
NZ dollar pares gains after Bernanke fails to signal QE3
Friday, 8 June 2012, 9:13 am | BusinessDesk
June 8 (BusinessDesk) - The New Zealand dollar fell from a one-month high after Federal Reserve Chairmen Ben Bernanke failed to signal further quantitative easing for the US, damping kiwi sentiment that had been lifted by China's unexpected interest cuts. More >>
While you were sleeping: China's surprise rate cut
Friday, 8 June 2012, 7:34 am | BusinessDesk
June 8 (BusinessDesk) - Expectations that policy makers around the world are ready to take concerted action to stimulate the economy buoyed equity markets on both sides of the Atlantic. More >>
MARKET CLOSE: NZ shares rise on upbeat Australian view
Thursday, 7 June 2012, 5:55 pm | BusinessDesk
June 7 (BusinessDesk) – New Zealand shares rose, led by companies exposed to the Australian economy after strong jobs and economic growth data lifted companies that get revenue across the Tasman. Pumpkin Patch led the advance, while Westpac and ANZ ... More >>
NZ dollar climbs to 3-week high with Aussie on a tear
Thursday, 7 June 2012, 5:24 pm | BusinessDesk
June 7 (BusinessDesk) - The New Zealand dollar rose to a three-week high 77.14 US cents in local trading as better than expected jobs growth across the Tasman stoked investors' appetite for riskier, or higher-yielding, assets. More >>
Fonterra wins crucial change to let TAF go forward
Thursday, 7 June 2012, 3:49 pm | BusinessDesk
June 7 (BusinessDesk) - Fonterra appears to have passed another crucial hurdle on the way to the June 25 special vote on the proposed Trading Among Farmers initiative, to create publicly investable units in the cooperative which runs New Zealand's largest ... More >>
MIDDAY UPDATE: Xero, Diligent shares gain on NZX 50 entrance
Thursday, 7 June 2012, 11:52 am | BusinessDesk
June 7 (BusinessDesk) - Shares in Xero and Diligent Board Member Services rallied today after the locally-listed tech-companies were flagged as the latest entrants to the benchmark NZX 50 index. More >>
From The Farm: Inflation hurts farmers too
Thursday, 7 June 2012, 11:27 am | BusinessDesk
June 7 (BusinessDesk) - Rob Davison, the veteran agricultural economist at the Beef + Lamb New Zealand Economic Service, reports that input prices for sheep and beef farms rose a relatively modest 2.4 percent in the 12 months ended March 31. More >>
