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BusinessDesk - Latest News [Page 1374]

More fiscal pruning, tax loopholes in Budget sights

Tuesday, 1 May 2012, 1:13 pm | BusinessDesk

May 1 (BusinessDesk) - Prime Minister John Key today confirmed the Cabinet has made decisions on further tax system tightening and pruning of government spending to allow it to achieve its target of a small Budget surplus in 2015. More >>

MIDDAY UPDATE: NZ wage growth slows in first quarter

Tuesday, 1 May 2012, 12:15 pm | BusinessDesk

May 1 (BusinessDesk) - New Zealand's wage inflation slowed to a quarterly pace of 0.4 percent in the first three months of the year, giving Reserve Bank Governor Alan Bollard room to keep interest rates lower for a longer period of time. More >>

Vital Healthcare pays A$12.3m for Sydney hospital

Tuesday, 1 May 2012, 11:26 am | BusinessDesk

May 1 (BusinessDesk) - Vital Healthcare Property Trust has paid A$12.3 million to buy the Hurstville private hospital in Sydney, its manager said. More >>

Contact sees 2014 cash-flow boost as projects put on ice

Tuesday, 1 May 2012, 11:08 am | BusinessDesk

May 1 (BusinessDesk) - Contact Energy shareholders can expect a substantial boost to cash flow from 2014 onwards as the company completes geothermal projects, winds back major capital spending and seeks to sell some of its $100 million of development ... More >>

NZ wage inflation slows in 1Q

Tuesday, 1 May 2012, 10:52 am | BusinessDesk

May 1 (BusinessDesk) - New Zealand wage inflation slowed in the first three months of the year, leaving overall labour costs benign enough to let the central bank keep interest rates on hold for longer. More >>

KPMG quits as Pyne Gould's auditor

Tuesday, 1 May 2012, 9:44 am | BusinessDesk

May 1 (BusinessDesk) - Pyne Gould Corp's auditor KPMG has quit after a disagreement as to what related party transactions the George Kerr-controlled wealth manager should disclose and the adequacy of its governance. More >>

Henderson attempts to thwart wind-down process: liquidator

Tuesday, 1 May 2012, 9:30 am | BusinessDesk

May 1 (BusinessDesk) - The liquidator of Dave Henderson's Property Ventures group has used his first official report to complain of the bankrupted Christchurch property developer's attempts to thwart the wind-down process. More >>

AMP Capital cleared to skirt kiwi share, lift Chorus stake

Tuesday, 1 May 2012, 9:12 am | BusinessDesk

AMP Capital gets government approval to lift stake in Chorus above limits of kiwi share More >>

While you were sleeping: US business, Spanish downers

Tuesday, 1 May 2012, 7:28 am | BusinessDesk

May 1 (BusinessDesk) - Economic data weighed on Wall Street and stocks in Europe as reports showed that US business activity grew at the most sluggish pace since November 2009 and that Spain slid back into a recession. More >>

NZX shareholders approve fee hike, capital return

Monday, 30 April 2012, 5:33 pm | BusinessDesk

April 30 (BusinessDesk) - Shareholders in the NZX, the stock exchange operator, have signed off on the first increase in directors fees in seven years and approved the company's plan to return up to $35 million to investors. More >>

MARKET CLOSE: NZ shares gain as yields appeal, Fletcher up

Monday, 30 April 2012, 5:31 pm | BusinessDesk

April 30 (BusinessDesk) – New Zealand shares rose, with online auction site Trade Me reaching a record after buying the rest of auto-listing aggregator AutoBase and Fletcher Building gaining as building consents continued their steep recovery. More >>

NZ dollar poised for 0.5% monthly gain as RBA rate cut looms

Monday, 30 April 2012, 5:18 pm | BusinessDesk

April 30 (BusinessDesk) - The New Zealand dollar is poised to have gained 0.5 percent over the month of April as markets prepare for a likely rate cut by the Reserve Bank of Australia tomorrow and the euro-zone contends with fears of another sovereign ... More >>

Fonterra won't seek new non-farmer equity for growth: chair

Monday, 30 April 2012, 4:32 pm | BusinessDesk

Fonterra won't seek new non-farmer equity for growth: van der Heyden By Pattrick Smellie April 30 (BusinessDesk) – Fonterra Cooperative Group will not go outside its farmer shareholder base to look for new capital to fund the cooperative's growth, ... More >>

Fonterra over-pricing milk by 40-50 cents/kg: independents

Monday, 30 April 2012, 4:21 pm | BusinessDesk

April 30 (BusinessDesk) – Fonterra Cooperative Group is setting its farm gate milk price between 40 cents and 50 cents a kilogram more than its own commodity business could pay and still make an acceptable return, according to a submission by three ... More >>