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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 1375]
NZ home building consents rise to 2-year high in March
Monday, 30 April 2012, 11:39 am | BusinessDesk
April 30 (BusinessDesk) – New Zealand residential building consents rose to their highest monthly level in two years in March amid growing demand for new housing in Auckland and Christchurch. More >>
NZ March trade surplus smaller than expected on dairy drop
Monday, 30 April 2012, 11:31 am | BusinessDesk
April 30 (BusinessDesk) – New Zealand posted a smaller-than-expected trade surplus in March, reflecting a drop in the value of exports of dairy products, crude oil and fruit. More >>
FMA appeals Lombard Finance directors’ sentences
Monday, 30 April 2012, 11:09 am | BusinessDesk
April 30 (BusinessDesk) – The Financial Markets Authority is appealing the non-custodial sentences handed out to the directors of failed lender Lombard Finance & Investments. More >>
Trade Me spends $11.5M to buy auto-listing partner AutoBase
Monday, 30 April 2012, 10:59 am | BusinessDesk
April. 30 (BusinessDesk) - Trade Me, the online auction site controlled by Fairfax Media, has spent $11.5 million mopping up the three-quarters of auto-listing aggregator AutoBase it didn’t already own. More >>
NZ dollar gains after US GDP misses estimates
Monday, 30 April 2012, 8:41 am | BusinessDesk
April 30 (BusinessDesk) – The New Zealand dollar increased more than 1 US cent after America’s economy expanded less than forecast in the first quarter, supporting the view the Federal Reserve has little room to move on fiscal policy. More >>
Key says Budget will keep 2015 surplus track
Sunday, 29 April 2012, 12:39 pm | BusinessDesk
April 29 (BusinessDesk) – Prime Minister John Key has restated the government's confidence it can run a Budget surplus in the year to June 2015, just days after Finance Minister Bill English questioned its achievability. More >>
MONEY TALKS: Interest rates on the way down?
Friday, 27 April 2012, 7:03 pm | BusinessDesk
Poor old Alan Bollard. The Reserve Bank governor is certainly in for a tough time with just three more outings to tinker with the economy before he retires in September. More >>
Kirk's flags FY loss, interim dividend cancelled
Friday, 27 April 2012, 5:50 pm | BusinessDesk
April 27 (BusinessDesk) – Kirkcaldie & Stain’s, which rebuffed a bid for its ailing retail business earlier this year, won’t pay an interim dividend for the first time since 2006. More >>
MARKET CLOSE: NZ shares rise, led by NZ Refining
Friday, 27 April 2012, 5:36 pm | BusinessDesk
April 27 (BusinessDesk) – New Zealand shares rose, led by NZ Refining after the nation’s only oil refinery won support from shareholders to upgrade its Marsden Point plan. Skellerup Holdings and Hallenstein Glasson paced the advance. More >>
NZ dollar falls as Eurozone woes return on Spanish downgrade
Friday, 27 April 2012, 5:20 pm | BusinessDesk
April 27 (BusinessDesk) – The New Zealand dollar fell in local trading after Standard & Poor’s cut Spain’s sovereign credit rating two notches, reigniting fears about Europe’s financial stability and prompting investors to quit their high-yielding ... More >>
NZF Money wins extension of order against troubled parent
Friday, 27 April 2012, 4:54 pm | BusinessDesk
April 27 (BusinessDesk) – NZF Money, a failed unit of troubled finance company NZF Group, has won an extension to a court order freezing $3 million of assets of the parent, which is in talks with its trustee about a debt-for-equity swap as cash ... More >>
Renaissance back in the black, no thanks to Apple or YOOBEE
Friday, 27 April 2012, 4:53 pm | BusinessDesk
April 27 (BusinessDesk) – Computer reseller and trainer Renaissance Corp. returned to profitability in the six months to March 31, declaring a $239,000 profit before tax and a $1.9 million post-tax operating surplus following receipt of $2.5 million ... More >>
NZ Refining wins 64.5% support for $365M upgrade
Friday, 27 April 2012, 4:30 pm | BusinessDesk
April 27 (BusinessDesk) – Shareholders of NZ Refining have narrowly passed the board’s plans to spend $365 million on an upgrade that was opposed by two of its major oil company owners, believed to be Mobil and Chevron, owner of the Caltex brand. More >>
Downer wins $224M of Auckland Council contracts
Friday, 27 April 2012, 3:22 pm | BusinessDesk
April 27 (BusinessDesk) - Downer EDI said it has won a series of contracts worth more than NZ$224 million with Auckland Council and its transport company for maintaining roads, parks, playgrounds and sports fields and a wide range of buildings from council ... More >>
Scott Technology to tap Australian mining sector with XRF JV
Friday, 27 April 2012, 3:16 pm | BusinessDesk
Scott Technology looks to tap Australian mining sector in deal with ASX-listed XRF Scientific More >>
NZ Refining to review New Zealand's 'laziest balance sheet'
Friday, 27 April 2012, 2:54 pm | BusinessDesk
April 27 (BusinessDesk) – New Zealand Refining’s board has promised to review its dividend policy, heading off a charge that investors bear the brunt of volatile earnings through gyrating payments and what one shareholder called “the laziest ... More >>
NZ gets $2.9 bln of bids for $900 mln of bonds in tender
Friday, 27 April 2012, 2:36 pm | BusinessDesk
April 27 (BusinessDesk) – New Zealand’s Debt Management Office got about $2.9 billion of bids for the $900 million of government bonds sold in a tender today, underlining the appeal of the nation’s relatively attractive yields. More >>
PMP gets ‘highly conditional’ takeover offer
Friday, 27 April 2012, 1:29 pm | BusinessDesk
April 27 (BusinessDesk) – PMP, the Sydney-based printing and distribution company, said it has received a “highly conditional” takeover offer for almost three times its current share price. More >>
JB Hi-Fi flags profit fall amid aggressive discounting
Friday, 27 April 2012, 12:30 pm | BusinessDesk
April 27 (BusinessDesk) - Electronic goods retailer JB Hi-Fi expects to meet its previously flagged A$3.1 billion annual sales target but its profit margins are under severe pressure due to aggressive discounting. More >>
MIDDAY UPDATE: Meridian pays $71.1M dividend
Friday, 27 April 2012, 12:20 pm | BusinessDesk
April 27 (BusinessDesk) - Meridian Energy will pay its government owner a $71.3 million dividend on its earnings for the first half of the financial year, in line with its dividend policy of a 75 percent payout ratio. The company declared an underlying ... More >>
