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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 1360]
While you were sleeping: Economic prospects dim
Friday, 25 May 2012, 7:11 am | BusinessDesk
May 25 (BusinessDesk) - Wall Street declined amid concern that problems in Europe and China will impact American corporate earnings. More >>
BUDGET 2012: KiwiSaver delay short-term thinking: Mercer
Thursday, 24 May 2012, 6:18 pm | BusinessDesk
May 24 (BusinessDesk) - The government's decision to push out automatic enrolment in KiwiSaver is a case of short-term thinking and doesn't do anything to address the mounting pension liability facing the country, according to investment consulting ... More >>
MARKET CLOSE: NZ shares fall on weak China, Budget yawn
Thursday, 24 May 2012, 6:01 pm | BusinessDesk
May 24 (BusinessDesk) – New Zealand shares fell on a day the government announced a ‘zero’ budget and Chinese manufacturing data weakened. Fletcher Building, Nuplex Industries and Rakon were among decliners. More >>
Xero lifts annual loss 5%, predicts bigger loss next year
Thursday, 24 May 2012, 5:52 pm | BusinessDesk
May 24 (BusinessDesk) - Online accounting software start-up Xero's annual net loss swelled 5 percent to $7.9 million even as its annualised committed revenue rose 82 percent to $25.5 million anc customer numbers more than doubled. Xero said its loss ... More >>
Resignation over TAF 'the right thing': Fonterra chairman
Thursday, 24 May 2012, 5:26 pm | BusinessDesk
May 24 (BusinessDesk) - Fonterra chairman Sir Henry van der Heyden has welcomed the resignation of the chairman of the watchdog Shareholders' Council, saying Simon Couper had "done the right thing by the cooperative." More >>
NZ dollar holds above 75 cts after zero budget, EU meeting
Thursday, 24 May 2012, 5:23 pm | BusinessDesk
May 24 (BusinessDesk) - The New Zealand dollar held above 75 US cents in local trading after the government's track back to an operating surplus got the thumbs up from Standard & Poor's and European leaders backed Greece's membership of the euro. More >>
Higher tax on smokes opens door to black market: Imperial
Thursday, 24 May 2012, 5:10 pm | BusinessDesk
May 24 (BusinessDesk) - Imperial Tobacco, whose brands in New Zealand include Drum, Horizon and Peter Stuyvesant, said the hike in tobacco tax announced in today's budget, opens the door to increase New Zealand's illicit usage. More >>
Fonterra shareholders' chairman Couper resigns over TAF
Thursday, 24 May 2012, 4:01 pm | BusinessDesk
May 24 (BusinessDesk) - Fonterra's bold plan to gain a second mandate from farmer shareholders for its controversial Trading Among Farmers scheme has taken a body blow with the resignation of the Fonterra Shareholders' Council chairman, Simon Couper. More >>
BUDGET 2012: PwC, EY query reliance on chasing tax dodgers
Thursday, 24 May 2012, 3:42 pm | BusinessDesk
May 24 (BusinessDesk) - This year's Budget is surprisingly reliant on squeezing more tax revenue from an economy that may not grow as fast as the Treasury forecasts it will, say major accounting firms PwC and Ernst & Young in early reaction to the ... More >>
Brierley clings to GPG board seat
Thursday, 24 May 2012, 3:08 pm | BusinessDesk
May 24 (BusinessDesk) - A defiant Sir Ron Brierley has come out swinging after narrowly surviving what amounted to a no confidence vote at the GPG annual meeting in Auckland. More >>
BUDGET 2012: S&P affirms NZ's credit rating after budget
Thursday, 24 May 2012, 3:01 pm | BusinessDesk
BUDGET 2012: S&P affirms NZ's credit rating after budget forecast for return to surplus More >>
Air NZ passenger numbers rise in April
Thursday, 24 May 2012, 2:44 pm | BusinessDesk
May 24 (BusinessDesk) - Air New Zealand's long-haul passenger numbers rose 4.4 percent in April and the airline announced plans to increase capacity between Queenstown and Australian cities by 8 percent this ski-season. More >>
BUDGET 2012: Govt hits bach rent tax rort, disappoints kids
Thursday, 24 May 2012, 2:04 pm | BusinessDesk
May 24 (BusinessDesk) - The government has hit both the wealthiest and the piddliest taxpayers by tightening tax breaks for private bach, boat and aeroplane owners while axing childrens' ability to claim tax refunds when tax has already been paid on their ... More >>
BUDGET 2012: KiwiSaver auto-enrolment delayed
Thursday, 24 May 2012, 2:03 pm | BusinessDesk
May 24 (BusinessDesk) - The government will delay its plan to automatically enrol every worker over the age of 18 into KiwiSaver to protect its projected path back to surplus. More >>
Profitable power company sale to prop up loss-making railway
Thursday, 24 May 2012, 2:02 pm | BusinessDesk
May 24 (BusinessDesk) - The single largest beneficiary of the asset sales programme this year will be the loss-making state-owned railway, with $250 million of the approximately $600 million proceeds from the part-sale of MightyRiverPower earmarked for KiwiRail. More >>
BUDGET 2012 COMMENT: Doddling along the best we can hope for
Thursday, 24 May 2012, 2:01 pm | BusinessDesk
May 25 (BusinessDesk) - Criticising Budgets for lacking vision or imagination is like shooting fish in a barrel, but even so, this year's Budget again feels like a missed opportunity. More >>
BUDGET 2012: NZ economic outlook deteriorates
Thursday, 24 May 2012, 2:01 pm | BusinessDesk
May 24 (BusinessDesk) - New Zealand's economic outlook has deteriorated further, according to today's budget forecasts, on the continued delays to Christchurch's eventual rebuild and global instability emanating from Europe's sovereign debt woes. More >>
Midday Update: NZ$ falls, F&P beats guidance
Thursday, 24 May 2012, 12:36 pm | BusinessDesk
May 24 (BusinessDesk) - The New Zealand dollar climbed from a six-month low as European Union leaders met amid talk Greece could leave the euro zone and ahead of the budget locally which is expected to chart the route back to fiscal surplus. More >>
NZ April trade surplus shrinks on dairy exports
Thursday, 24 May 2012, 12:12 pm | BusinessDesk
May 24 (BusinessDesk) - New Zealand posted a smaller-than-expected surplus in April, reflecting a drop in the value of exports of milk powder, butter and cheese. More >>
NPT lifts earnings on Christchurch insurance payout
Thursday, 24 May 2012, 10:48 am | BusinessDesk
May 24 (BusinessDesk) - NPT, the property company formally known as National Property Trust, reported a 12.5 percent increase in fiscal year profit as an insurance reimbursement payment from the Christchurch earthquakes made up for a decline in gross rental income. More >>
