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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 1369]
NZ guest nights fall in March on falling tourist numbers
Thursday, 10 May 2012, 12:03 pm | BusinessDesk
May 10 (BusinessDesk) - New Zealand guest nights at holiday parks, hotels and backpacker fell in March as dwindling foreign visitor numbers sapped demand for local accommodation. More >>
Bank of NZ 1H cash earnings rise 36% on wider margins
Thursday, 10 May 2012, 11:24 am | BusinessDesk
Bank of NZ posts 36% jump in first-half cash earnings as margins widen, impairments fall More >>
Manufacturing slumps in April: PMI
Thursday, 10 May 2012, 11:17 am | BusinessDesk
May 10 (BusinessDesk) - New Zealand manufacturing slipped into contraction in April, falling to its lowest level in six months and shedding March's very strong gains, according to the BNZ-BusinessNZ performance of manufacturing index (PMI). More >>
New disclosure required for banks' covered bonds
Thursday, 10 May 2012, 10:56 am | BusinessDesk
May 10 (BusinessDesk) - New Zealand banks issuing covered bonds will be required to register their programmes with the Reserve Bank and disclose the pool of assets that investors could call on if the bank defaulted. More >>
Insured Group shareholders agree to de-list from NZX
Thursday, 10 May 2012, 9:07 am | BusinessDesk
Insured Group shareholders sign-off on plan to de-list from NZX, raise capital in Australia More >>
Telecom's Reynolds to leave at the end of June
Thursday, 10 May 2012, 9:02 am | BusinessDesk
May 10 (BusinessDesk) - Telecom chief executive Paul Reynolds will leave the phone company at the end of June after overseeing the structural split of its network business last year. More >>
NZ dollar holds near 4-month low as Greek talks stumble
Thursday, 10 May 2012, 8:25 am | BusinessDesk
May 10 (BusinessDesk) - The New Zealand dollar held near a four-month low as Greek politicians struggled to form a new government, heightening speculation the nation may leave the euro and sapping risk appetite. More >>
While you were sleeping: Greece renews volatility
Thursday, 10 May 2012, 7:31 am | BusinessDesk
May 10 (BusinessDesk) - As Greek parties struggled to form a new government and Spain asked its banks to set aside more money to cover bad loans, investors were playing it safe. More >>
MARKET CLOSE: NZ shares rise as kiwi falls, yields appeal
Wednesday, 9 May 2012, 6:00 pm | BusinessDesk
May 9 (BusinessDesk) - New Zealand shares rose as the kiwi dollar fell to a four-month low, helping exporters such as Rakon, while Telecom rose to the highest since August 2008 on the appeal of its relatively attractive dividend yield. More >>
NZ dollar extends slide amid concerns Greek govt stalled
Wednesday, 9 May 2012, 5:31 pm | BusinessDesk
May 9 (BusinessDesk) - The New Zealand dollar extended its decline through the local session amid concerns Greece won't be able to form a government after its general election threw up a hung parliament, stalling Euro-zone-wide budget cuts designed ... More >>
Trans-Tasman Resources appoints Shipley, Adams to board
Wednesday, 9 May 2012, 4:55 pm | BusinessDesk
May 9 (BusinessDesk) - Trans-Tasman Resources, the privately-owned iron-sands explorer, has appointed former Prime Minister Jenny Shipley and ex-Tata Steel executive Kirby Adams to its board. More >>
Growth and stability stoke demand for kiwi dollar
Wednesday, 9 May 2012, 3:13 pm | BusinessDesk
May 9 (BusinessDesk) - New Zealand's growth prospects and its financial stability in a world contending with a European sovereign debt crisis and lukewarm US economy have stoked demand for the currency, according to Reserve Bank Deputy Governor Grant ... More >>
House prices sluggish despite real estate pick-up: Bollard
Wednesday, 9 May 2012, 3:05 pm | BusinessDesk
May 9 (BusinessDesk) - Reserve Bank Governor Alan Bollard is talking down the threat of rising house price inflation as the property market begins to show signs of life. More >>
Govt depts open up to SMEs at new mingle-fest
Wednesday, 9 May 2012, 1:30 pm | BusinessDesk
May 9 (BusinessDesk) - Small and medium-sized businesses have flocked to an inaugural Meet the Buyer expo in Wellington to offer their wares to big government buyers they would normally struggle to meet. More >>
MIDDAY UPDATE: Sky TV deals sap broadband uptake: Quickflix
Wednesday, 9 May 2012, 11:42 am | BusinessDesk
May 9 (BusinessDesk) – Quickflix, the ASX-listed supplier of streaming and online movies and television shows, says Sky Network Television's content arrangements will hold back demand for New Zealand households to buy into the national ultra-fast broadband ... More >>
Quickflix says Sky TV content deals hinder broadband uptake
Wednesday, 9 May 2012, 11:23 am | BusinessDesk
May 9 (BusinessDesk) - Quickflix, the ASX-listed supplier of streaming and online movies and television shows, says Sky Network Television's content arrangements will hold back demand for New Zealand households to buy into the national ultra-fast broadband ... More >>
RBNZ's weaker dollar outlook signals cut to OCR less likely
Wednesday, 9 May 2012, 10:09 am | BusinessDesk
May 9 (BusinessDesk) - The Reserve Bank of New Zealand's view that the kiwi dollar is set to fall further has reduced prospects of a cut in an official cash rate that is already at a record low, economists say. More >>
Reserve Bank says reinsurance premiums likely to rise
Wednesday, 9 May 2012, 9:16 am | BusinessDesk
May 9 (BusinessDesk) - The Reserve Bank of New Zealand expects global reinsurers to pass on their mounting cost of the Canterbury earthquakes to their customers, with another round of hikes to their premiums. More >>
NZ dollar may fall on weak commodity prices, sentiment: RBNZ
Wednesday, 9 May 2012, 9:12 am | BusinessDesk
May 9 (BusinessDesk) - The New Zealand dollar may depreciate as the price of locally produced raw materials declines and global market sentiment deteriorates, according to the Reserve Bank. More >>
NZ banks use covered bonds, retail deposits as funds buffer
Wednesday, 9 May 2012, 9:05 am | BusinessDesk
May 9 (BusinessDesk) - New Zealand banks have increased their use of covered bonds and retail deposits to pay for their lending programmes as the cost of sourcing money from overseas threatens to keep rising. More >>
