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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 1361]
Argosy annual earnings flat, no change in 2013 dividend
Thursday, 24 May 2012, 9:51 am | BusinessDesk
May 24 (BusinessDesk) - Argosy Property, whose shareholders agreed to corporatise the company after buying out its ANZ Bank-owned manager last year, reported flat annual earnings and doesn't expect any change in its 2013 dividend. More >>
F&P Appliances beats FY guidance as earnings fall
Thursday, 24 May 2012, 9:50 am | BusinessDesk
May 24 (BusinessDesk) – Fisher & Paykel Appliances Holdings beat its full-year guidance while posting a decline in earnings, while warning that the outlook for 2013 is for soft retail markets with weaker demand in Australia. More >>
NZ dollar hits 6-mth low, revives, as EU meets; budget looms
Thursday, 24 May 2012, 8:39 am | BusinessDesk
May 24 (BusinessDesk) - The New Zealand dollar climbed from a six-month low as European Union leaders meet 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 >>
While you were sleeping: Euro contingency plans
Thursday, 24 May 2012, 7:37 am | BusinessDesk
May 24 (BusinessDesk) - Equities suffered on both sides of the Atlantic as an increasing number of euro zone officials acknowledge preparations are being made for the possibility of a Greek departure from the common currency. More >>
MARKET CLOSE: NZ shares pace regional selloff; Telecom drops
Wednesday, 23 May 2012, 6:03 pm | BusinessDesk
May 23 (BusinessDesk) - New Zealand shares fell, pacing a regional selloff in equities as investors fret Greece will leave the euro zone, sapping risk appetite, while the World Bank downgraded its growth forecast for Asia-Pacific. Telecom, the biggest ... More >>
CORRECTION: EEZ Bill less clear on environment vs economy
Wednesday, 23 May 2012, 5:34 pm | BusinessDesk
(Corrects 9th paragraph reference to oil and gas production and seabed mining, which are discretionary activities under the proposals) More >>
NZ dollar drops to 6-mth low as World Bank cuts Asian growth
Wednesday, 23 May 2012, 5:10 pm | BusinessDesk
NZ dollar drops to 6-month low after World Bank cuts Asian growth forecast, EU summit looms More >>
Pyne Gould names PwC as new auditor
Wednesday, 23 May 2012, 5:05 pm | BusinessDesk
May 23 (BusinessDesk) - Pyne Gould Corp has announced that PwC will take over as its external auditor following the resignation of KPMG earlier this month. More >>
Chempro's Henry installs new Hydromet board as stake rises
Wednesday, 23 May 2012, 3:31 pm | BusinessDesk
May 23 (BusinessDesk) - Chempro Logistics director Simon Henry has installed a new board to ASX-listed Hydromet as he edges closer to the level where he can force a full takeover. More >>
Powerco 9-month earnings rise 8.9% at new balance date
Wednesday, 23 May 2012, 2:49 pm | BusinessDesk
May 23 (BusinessDesk) - Powerco boosted net profit 8.9 percent in the nine months through March in a year when the country's second-biggest local electricity network owner changed its balance date and paid out more to its shareholders. More >>
NZ dollar holds gains despite Fonterra payout cut
Wednesday, 23 May 2012, 2:16 pm | BusinessDesk
The kiwi was little changed at 76.52 US cents from 76.47 cents at 8am, and was up from 75.89 cents yesterday. The trade-weighted index climbed to 69.23 from 68.73 yesterday. More >>
Women bankers' career advancement seen as 'low priority'
Wednesday, 23 May 2012, 1:31 pm | BusinessDesk
May 23 (BusinessDesk) - Women across New Zealand and Australia perceive their career advancement as a low priority in the organisations they work for, according to research conducted by the Bank of New Zealand and Financial Services Institute of Australasia. More >>
Endace earnings beat guidance, strategy still under review
Wednesday, 23 May 2012, 12:45 pm | BusinessDesk
May 23 (BusinessDesk) - Endace, which commercialised cyber-security research done by Waikato University, has beaten the earnings guidance in March when British government austerity measures squeezed the Auckland company's revenue stream. More >>
Royal Wolf agrees to buy ContainerTech to expand in NZ
Wednesday, 23 May 2012, 12:26 pm | BusinessDesk
May 23 (BusinessDesk) – Royal Wolf Holdings, the ASX-listed container services firm that won an award for its initial public offering last year, has agreed to buy the container business of Auckland-based ContainerTech Group. More >>
MIDDAY UPDATE: Health insurance falls to 6-year low
Wednesday, 23 May 2012, 11:59 am | BusinessDesk
May 23 (BusinessDesk) - The number of kiwis taking out private healthcare insurance has fallen to the lowest level in more than six years, keeping the level of cover below the OECD average, as a weak economy and rising general insurance costs dent ... More >>
Record Comvita profit, dividend jumps
Wednesday, 23 May 2012, 11:59 am | BusinessDesk
May 23 (BusinessDesk) - Honey products company Comvita's annual net profit surged to a record as its growth strategy finally started to pay off, apparently vindicating its defence against last year's hostile takeover offer from multinational Cerebos ... More >>
DNZ boosts annual earnings 27%, flags dividend rise in 2013
Wednesday, 23 May 2012, 10:40 am | BusinessDesk
May 23 (BusinessDesk) - NZX-listed DNZ Property Fund has lifted annual earnings 27 percent and signalled a bigger return to shareholders in the coming year. More >>
Chorus flags capex of up to $965M on UFB, rural broadband
Wednesday, 23 May 2012, 9:46 am | BusinessDesk
May 23 (BusinessDesk) - Chorus, the telecommunications network operator spun out of Telecom last year, will spend as much as $965 million over the next two years in the roll out of its ultra-fast and rural broadband networks. More >>
From The Farm: Pig farmers fight back
Wednesday, 23 May 2012, 9:09 am | BusinessDesk
The big news in New Zealand farming circles yesterday was Fonterra's announcement that it has cut its milk payment forecasts for this year and next. More >>
While you were sleeping: US housing provides lift
Wednesday, 23 May 2012, 7:28 am | BusinessDesk
May 23 (BusinessDesk) - Better-than-expected data on the US housing market helped firm optimism about the outlook for the American economy, and helped equities extend their rebound from recent losses. More >>
