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BusinessDesk - Latest News [Page 1368]

Food prices drop in April, led by soft drinks and groceries

Friday, 11 May 2012, 11:53 am | BusinessDesk

May 11 (BusinessDesk) - New Zealand food prices continued to fall in April as consumers paid less for soft drinks and supermarket shopping. More >>

NZ credit, debit card spending rises 0.6% in April

Friday, 11 May 2012, 11:28 am | BusinessDesk

>h3>NZ credit, debit card spending rises 0.6% in April, snapping two monthly declines More >>

BNZ done issuing covered bonds for now; funding issues loom

Friday, 11 May 2012, 10:27 am | BusinessDesk

May 11 (BusinessDesk) - Bank of New Zealand, the biggest issuer of covered bonds among the nation's banks, says it is done selling the debt for now and may not return to the market for two years. More >>

Solid Energy could pay up to $32.5 mln for Pike River

Friday, 11 May 2012, 9:42 am | BusinessDesk

May 11 (BusinessDesk) - Solid Energy, the state-owned coal miner, has agreed to buy the Pike River Coal mine for $7.5 million but could pay a further $25 million if the mine is commercially reopened. More >>

SkyCity trims FY guidance to 'low $140 millions' on Adelaide

Friday, 11 May 2012, 9:36 am | BusinessDesk

May 11 (BusinessDesk) - SkyCity Entertainment Group, the casino operator in talks with the government to build a convention centre in Auckland, has cut its full-year earnings forecast to the "low $140 millions" on softer trading conditions ... More >>

Warehouse 3Q sales rise 3.3% with gains for most goods

Friday, 11 May 2012, 9:12 am | BusinessDesk

May 11 (BusinessDesk) - Warehouse Group, which will quit its secondary ASX listing from July, lifted sales 3.3 percent in the third quarter as it attracted more demand across all retail goods except clothing. More >>

NZ dollar holds near 4-month low after EU pledges bailout

Friday, 11 May 2012, 8:54 am | BusinessDesk

NZ dollar holds near 4-month low after EU pledges bailout, US jobless claims fall More >>

While you were sleeping: Greece, US jobs looking up

Friday, 11 May 2012, 7:40 am | BusinessDesk

May 11 (BusinessDesk) - The prospects for a new Greek government were looking up, as did the latest US jobs data, helping stocks on both sides of the Atlantic advance. Even the beleaguered euro eked out a gain against the greenback. More >>

MARKET CLOSE: NZ shares rise as Chorus, OceanaGold rebound

Thursday, 10 May 2012, 6:03 pm | BusinessDesk

May 10 (BusinessDesk) - New Zealand shares rose, led OceanaGold and Chorus as some investors were attracted back to companies after their recent declines. Fisher & Paykel Healthcare led gains among stocks that benefit from a weaker dollar. More >>

Aussie fruit fly find sparks bio-security alert in Auckland

Thursday, 10 May 2012, 5:40 pm | BusinessDesk

May 10 (BusinessDesk) - The Ministry for Primary Industries (MPI) is notifying New Zealand's relevant trading partners after a Queensland fruit fly was found in Auckland. More >>

NZ dollar falls as Aussie unemployment drops below 5%

Thursday, 10 May 2012, 5:09 pm | BusinessDesk

May 10 (BusinessDesk) - The New Zealand dollar fell against its Australian counterpart after the unemployment rate across the Tasman dropped below 5 percent for the first time in a year. More >>

CORRECTION: E-shopping to peak at 15% of sales: mall owner

Thursday, 10 May 2012, 4:37 pm | BusinessDesk

May 10 (BusinessDesk) - Online spending in New Zealand and Australia will reach saturation point of 15 percent of total retail sales, according to research by AMP Capital Shopping Centres. More >>

Fonterra execs come out swinging on competitors' tactics

Thursday, 10 May 2012, 3:33 pm | BusinessDesk

May 10 (BusinessDesk) - Fonterra Cooperative Group executives have rubbished a Deloitte report for local dairy industry competitors that claims it charges up to 50 cents a kilogram too much to supply them milk, accusing them of trying to bog down the ... More >>

AMP rails against Australian govt tinkering with super

Thursday, 10 May 2012, 3:02 pm | BusinessDesk

May 10 (BusinessDesk) - Australia-based insurance giant AMP is railing against the Australian Federal government tinkering with superannuation. More >>

AMP Financial Services suffers 1Q cash outflow, NZ shines

Thursday, 10 May 2012, 2:53 pm | BusinessDesk

May 10 (BusinessDesk) - Australia-based insurer AMP says “very subdued cashflows” experienced in calendar 2011 have continued into the first quarter of this year. More >>

BNZ charge for bad debt ‘unusually low’, challenges loom

Thursday, 10 May 2012, 2:27 pm | BusinessDesk

May 10 (BusinessDesk) – Bank of New Zealand, the local unit of National Australia Bank, said a 64 percent drop in its provision for bad and doubtful debts in the first half meant the charge was now below what could be regarded as normal levels, especially ... More >>