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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 1367]
Dimension Data paid $64M for Integral, doubling sales
Monday, 14 May 2012, 2:22 pm | BusinessDesk
May 14 (BusinessDesk) – The New Zealand unit of UK IT services company Dimension Data spent $64 million acquiring Integral Technology Group, allowing it to double sales last year, its accounts show. More >>
MIDDAY UPDATE: NZ retail sales fall 1.5% in 1st quarter
Monday, 14 May 2012, 12:04 pm | BusinessDesk
May 14 (BusinessDesk) - New Zealand retail sales fell in the first three months of the year as people reined in spending on supermarket and grocery items after a spend-up during the Rugby World Cup. More >>
NZ Dollar Outlook: Kiwi may fall on Chinese data, Greece
Monday, 14 May 2012, 11:55 am | BusinessDesk
May 14 (BusinessDesk) - The New Zealand dollar may extend its slide this week as investors digest weak data from China, the nation’s second-biggest export market, and the prospects for fresh elections in Greece. More >>
NZ services sector picks up pace in April, led by new orders
Monday, 14 May 2012, 11:31 am | BusinessDesk
May 14 (BusinessDesk) – New Zealand’s services sector picked up pace in last month, led by new orders, showing a divergence with last week’s manufacturing survey that showed a marked decline. More >>
NZ 1Q retail sales fall 1.5% led by supermarkets, groceries
Monday, 14 May 2012, 10:53 am | BusinessDesk
NZ retail sales fall 1.5% in 1Q as supermarkets, grocery stores report record decline More >>
GuocoLeisure's 3Q profit boosted by a tax benefit
Monday, 14 May 2012, 10:15 am | BusinessDesk
May 14 (BusinessDesk) - GuocoLeisure, the diversified investment company previously named Brierley Investments, said net profit for the three months ended March 31 more than doubled to US$19.4 million, boosted by a tax benefit relating to the restructuring ... More >>
Diligent nabs Weldon for board role
Monday, 14 May 2012, 9:39 am | BusinessDesk
May 14 (BusinessDesk) - Diligent Board Member Services, the software company that's been one of New Zealand’s best-performing stocks in the past two years, has secured former NZX boss Mark Weldon as a director. More >>
Telecom to trial 4G mobile technology before spectrum sale
Monday, 14 May 2012, 9:22 am | BusinessDesk
May 14 (BusinessDesk) - Telecom, which shed a heavy regulatory burden when it carved out its network unit Chorus last year, will trial new mobile technology to cash in on the government's plan to sell high-frequency spectrum when it switches off the ... More >>
Guinness Peat sells out of 300-year-old British brewer
Monday, 14 May 2012, 9:15 am | BusinessDesk
May 14 (BusinessDesk) – Guinness Peat Group, the diversified investor winding up its portfolio to return funds to shareholders, has exited its remaining stake in Shepherd Neame, a 300-year-old family controlled British brewer. More >>
Guinness Peat sells out of 300-year-old British brewer
Monday, 14 May 2012, 9:15 am | BusinessDesk
May 14 (BusinessDesk) – Guinness Peat Group, the diversified investor winding up its portfolio to return funds to shareholders, has exited its remaining stake in Shepherd Neame, a 300-year-old family controlled British brewer. More >>
NZ dollar rises after China lowers bank reserve requirements
Monday, 14 May 2012, 8:43 am | BusinessDesk
May 14 (BusinessDesk) - The New Zealand dollar rose after China cut the amount of cash that banks must set aside for reserves, a move that may stoke lending and economic activity in the nation’s second-largest export market. More >>
Loyalty bonus, small parcel deals eyed for MOMco floats
Sunday, 13 May 2012, 5:10 pm | BusinessDesk
May 13 (BusinessDesk) - State-Owned Enterprises Minister Tony Ryall says the government is looking at schemes to reward long-term shareholders of partially privatised state-owned assets, in response to market research it's been undertaking. More >>
MONEY TALKS: Is a deposit rate war brewing?
Friday, 11 May 2012, 5:53 pm | BusinessDesk
The pressures bearing down on the Reserve Bank to cut the official cash rate leaked over into the nation's lenders this week, with the majors offering smaller returns on term deposits. More >>
MARKET CLOSE: NZ shares fall as SkyCity trims annual earning
Friday, 11 May 2012, 5:40 pm | BusinessDesk
May 11 (BusinessDesk) - New Zealand shares fell, led by SkyCity Entertainment Group after the casino operator warned its annual profit will be a little smaller than previously forecast. Warehouse Group paced gainers on improving quarterly sales. More >>
NZ dollar poised for 1.4% weekly decline amid Greek concerns
Friday, 11 May 2012, 5:40 pm | BusinessDesk
May 11 (BusinessDesk) - The New Zealand dollar is poised for a 1.4 percent decline this week as the Greek Parliament struggles to form a coalition government almost a week on from its election, sapping investors' appetite for risky assets. The New ... More >>
TrustPower pushes margins, sheds customers, earnings up 16%
Friday, 11 May 2012, 3:50 pm | BusinessDesk
May 11 (BusinessDesk) - TrustPower, the utility controlled by Infratil, boosted underlying annual profit 16 percent, achieving wider margins while shedding customers in a tight retail market. More >>
Helicopters NZ's Canadian buyer to adopt HNZ name
Friday, 11 May 2012, 2:05 pm | BusinessDesk
May 11 (BusinessDesk) - Canadian Helicopters, which bought Helicopters New Zealand from the receivers of South Canterbury Finance for $154 million last year, wants to adopt the HNZ name to tap into its global reputation. More >>
Postie Plus' 3Q sales fall; Babycity sale signed off
Friday, 11 May 2012, 1:27 pm | BusinessDesk
May 11 (BusinessDesk) - Clothing retailer Postie Plus Group said its third quarter sales are down 5 percent on top of the 4.6 percent decline in its first-half sales. More >>
ETS changes inevitable as scheme matures, Groser says
Friday, 11 May 2012, 1:14 pm | BusinessDesk
May 11 (BusinessDesk) - Incremental change to the emissions trading scheme is inevitable, especially as global consensus on climate change action emerges and New Zealand's carbon-pricing system is tweaked to adapt, says Climate Change Minister Tim Groser. More >>
MIDDAY UPDATE: Kiwis flash plastic more in April
Friday, 11 May 2012, 12:07 pm | BusinessDesk
May 11 (BusinessDesk) - New Zealanders spent more on their credit and debit cards in April than they did in the same month a year earlier, snapping two monthly declines. More >>
