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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 1372]
Kiwi dollar strong because so is NZ, says Harbour Asset
Friday, 4 May 2012, 10:31 am | BusinessDesk
May 4 (BusinessDesk) - New Zealand's dollar remains stronger than exporters see as comfortable because the local economy is performing relatively strongly, compared to many trading partners, says Harbour Asset Management in its latest fixed interest ... More >>
Chorus says cheap copper line access may deter fibre buy-in
Friday, 4 May 2012, 10:04 am | BusinessDesk
May 4 (BusinessDesk) - Chorus, the telecommunications network operator carved out of Telecom last year, is warning that the industry regulator's bias toward cheaper access to the ageing copper lines may discourage buy-in for the fibre network under ... More >>
NZ dollar falls below 80 cts for first time since January
Friday, 4 May 2012, 9:00 am | BusinessDesk
NZ dollar falls below 80 cts for first time since January after weak US data More >>
While you were sleeping: ECB risks, US services slow
Friday, 4 May 2012, 7:36 am | BusinessDesk
May 4 (BusinessDesk) - Downside risks in Europe and an unexpected slowing in the US services sector has investors rethinking the outlook for a second day. More >>
MARKET CLOSE: NZ shares fall; Ryman drops as Ngai Tahu sells
Thursday, 3 May 2012, 6:10 pm | BusinessDesk
May 3 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 Index down from a four-year high, after Ngai Tahu sold down its stake in Ryman Healthcare, while Fletcher Building declined from a month-high. More >>
Westpac NZ dips toes back into higher loan to value ratios
Thursday, 3 May 2012, 6:10 pm | BusinessDesk
May 3 (BusinessDesk) - Westpac is dipping its toes back into writing mortgages with higher loan-to-value ratios (LVRs) than it's been comfortable with since the global financial crisis, as the Reserve Bank considers limiting how much banks can lend ... More >>
NZ dollar falls to 3-month low after unemployment jump
Thursday, 3 May 2012, 5:41 pm | BusinessDesk
May 3 (BusinessDesk) - The New Zealand dollar fell to a three-month low after the country's unemployment rate unexpectedly rose in the first three months of the year, raising the possibility of a rate cut by the Reserve Bank. More >>
Gavin Bennett jailed for 8 years over Datasouth fraud
Thursday, 3 May 2012, 4:27 pm | BusinessDesk
May 3 (BusinessDesk) - Former Datasouth Group managing director Gavin Bennett was sentenced to eight years jail after pleading guilty to defrauding South Canterbury Finance of $65 million and falsifying his company’s finances by about $38 million ... More >>
From The Farm: Is Fonterra worth more?
Thursday, 3 May 2012, 3:30 pm | BusinessDesk
Reading the submissions on the proposed DIRA amendment bill, there’s a lot of old arguments, but then Fonterra has had a long time to frame its corporate restructuring. More >>
Govt launches privatisation website for first-time investors
Thursday, 3 May 2012, 1:01 pm | BusinessDesk
May 3 (BusinessDesk) - First-time and retail sharemarket investors are being targeted by a new government website set up to provide basic information about the process of partially privatising up to four of its energy companies and to sell further shares ... More >>
MIDDAY UPDATE: TTP worth $2.1 billion to NZ by 2025?
Thursday, 3 May 2012, 12:26 pm | BusinessDesk
May 3 (BusinessDesk) - The Trans Pacific Partnership (TPP) could deliver an annual boost to the New Zealand economy of around $2.1 billion a year by the mid-2020's, according to research to a US-based research group. More >>
Record NZ part-time jobs make up for fall in full-timers
Thursday, 3 May 2012, 12:20 pm | BusinessDesk
May 3 (BusinessDesk) - New Zealand's employment growth in the first three months of the year was all in part-time positions, which rose to a record and picked up the slack from a decline in the number of full-time jobs. More >>
Westpac first-half cash earnings up 24% as margins improve
Thursday, 3 May 2012, 11:42 am | BusinessDesk
May 3 (BusinessDesk) - Westpac Banking Corp’s New Zealand cash earnings rose 24 percent in the first half, reflecting improved margins and growth in lending and deposits in what it called a subdued local economy. More >>
NZ Windfarms triples 3rd quarter revenue
Thursday, 3 May 2012, 11:17 am | BusinessDesk
May 3 (BusinessDesk) - NZ Windfarms third-quarter revenue tripled reflecting the completion of its 97-turbine Te Rere Hau wind farm and higher-than-expected electricity prices offset by lower-than-expected electricity output due to lower-than-expected ... More >>
Slight autumn cooling in Auckland house sales, Barfoot says
Thursday, 3 May 2012, 11:07 am | BusinessDesk
May 3 (BusinessDesk) – Auckland house prices and number of sales fell in April following a March with the strongest monthly sales in five years. More >>
NZ jobless rate rises to 6.7%, labour force grows
Thursday, 3 May 2012, 10:53 am | BusinessDesk
NZ jobless rate rises to 6.7%, labour force swells to 3-year high; kiwi drops More >>
Central bank to use bank liquidity tools in monetary policy
Thursday, 3 May 2012, 10:32 am | BusinessDesk
May 3 (BusinessDesk) - New rules to curb credit booms will become a tool for controlling interest rates and the exchange rate along with existing monetary policy tools, the assistant governor of the Reserve Bank of New Zealand, Grant Spencer, says. More >>
NZX value of cash market trading falls 12.8% in April
Thursday, 3 May 2012, 10:01 am | BusinessDesk
May 3 (BusinessDesk) – The value of trading in NZX’s cash markets fell 12.8 percent in April from a year earlier, the fourth monthly decline, with turnover in the $15.8 billion debt market falling below $100 million. More >>
NZ dollar falls after US private jobs data disappoints
Thursday, 3 May 2012, 9:02 am | BusinessDesk
May 3 (BusinessDesk) - The New Zealand dollar fell after weaker-than-expected US private sector jobs figures sapped investors' appetite for higher-yielding, or riskier, assets ahead of local employment data that may show the jobless rate held unchanged ... More >>
While you were sleeping: Sombre jobs data
Thursday, 3 May 2012, 7:34 am | BusinessDesk
May 3 (BusinessDesk) - Disappointing jobs numbers from both sides of the Atlantic weighed on equities, a day after they reached a four-year high on Wall Street. More >>
