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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 1396]
Kathmandu 1H profit plunges on shrinking margins
Wednesday, 21 March 2012, 10:04 am | BusinessDesk
(BusinessDesk) – Kathmandu, the outdoor equipment and clothing retailer, posted a 43 percent slump in first-half profit as a highly competitive market squeezed its margins. The shares fell 4.8 percent. More >>
NZ dollar falls on fears of slowing China; Fonterra auction
Wednesday, 21 March 2012, 8:53 am | BusinessDesk
March 21 (BusinessDesk) – The New Zealand dollar fell after mining giant BHP Billiton warned China’s economic growth is cooling and dairy prices at Fonterra Cooperative Group’s online auction dropped to their lowest level in eight months. More >>
While you were sleeping: China dims growth outlook
Wednesday, 21 March 2012, 7:42 am | BusinessDesk
March 21 (BusinessDesk) - Equities in Europe and on Wall Street fell amid concern that China's economic strength is faltering after BHP Billiton warned that the nation's growth of steel production was slowing. More >>
MARKET CLOSE: NZ shares edge higher; Fletcher gains weight
Tuesday, 20 March 2012, 6:12 pm | BusinessDesk
March 20 (BusinessDesk) - New Zealand shares rose, snapping a two-day slide off a nine-month high, as Fletcher Building was anointed as a more dominant listing on the NZX, while Contact Energy fell on the proposed re-weightings that will relegate ... More >>
NZ dollar falls as BHP cites decline in Chinese ore demand
Tuesday, 20 March 2012, 5:47 pm | BusinessDesk
NZ dollar falls as BHP says Chinese demand for iron ore declines; local data looms More >>
Heritage Gold’s Talisman project looks a stonker
Tuesday, 20 March 2012, 5:47 pm | BusinessDesk
March 20 (BusinessDesk) – Heritage Gold’s Talisman prospect on the Coromandel Peninsula is looking like a major commercial discovery, based on figures showing the mine breaks even at $A1000 an ounce for gold, well below current gold prices. More >>
FMA backed off investigating Jock Hobbs
Tuesday, 20 March 2012, 5:11 pm | BusinessDesk
March 20 (BusinessDesk) – The Financial Markets Authority closed its probe into former All Black and Strategic Finance director Jock Hobbs last year after the extent of his cancer was made apparent to it. More >>
SMELLIE ON SMEs: How to waste money on advertising
Tuesday, 20 March 2012, 2:36 pm | BusinessDesk
March 20 (BusinessDesk) – The old saying goes that there’s no such thing as bad publicity, and that’s true as far as it goes. But when it comes to spending money on advertising, bad publicity is only one big invoice away at any time. Before you ... More >>
CORRECT: MARKET CLOSE: NZ shares gain; Telecom gains
Tuesday, 20 March 2012, 1:30 pm | BusinessDesk
March 13 (BusinessDesk) - New Zealand shares rose in a broadly bullish market for global equities driven by speculation global growth is coming back. Trade Me, the auction website, rose to a record close and Telecom reached a new high since the ... More >>
Treasury’s Makhlouf pushes for more investment in teachers
Tuesday, 20 March 2012, 1:01 pm | BusinessDesk
March 20 (BusinessDesk) – Treasury Secretary Gabriel Makhlouf says more and better investment in teachers is integral to lifting New Zealand’s student achievement, which he sees as the single biggest issue in improving the nation’s standard of ... More >>
MIDDAY UPDATE: Contact drops on NZX’s ‘free-float’ changes
Tuesday, 20 March 2012, 12:15 pm | BusinessDesk
March 20 (BusinessDesk) – Shares in Contact Energy, the power company half owned by Australia’s Origin Energy, fell after the NZX said it would only recognise the ‘pure free float’ of shares available for trading when it determined index weightings. More >>
James Miller joins MRP board, leaves Vector
Tuesday, 20 March 2012, 11:50 am | BusinessDesk
March 20 (BusinessDesk) – One of the country’s most experienced electricity industry analysts and governors, James Miller, has been appointed to the board of MightyRiverPower ahead of its partial privatisation later this year, prompting his departure from ... More >>
Contact drops on NZX’s ‘free-float’ changes
Tuesday, 20 March 2012, 11:42 am | BusinessDesk
March 20 (BusinessDesk) – Shares in Contact Energy, the power company half owned by Australia’s Origin Energy, fell after the NZX said it would only recognise the ‘pure free float’ of shares available for trading when it determines index weightings. More >>
Older kiwis increase share of NZ household wealth: survey
Tuesday, 20 March 2012, 9:21 am | BusinessDesk
March 19 (BusinessDesk) – New Zealanders aged 55-plus have increased their share of household net wealth in the past decade, mainly from investment in their own homes, and are staying in the workforce longer, according to Roy Morgan Research. More >>
Endace shares sink 13% on profit warning
Tuesday, 20 March 2012, 9:19 am | BusinessDesk
March 20 (BusinessDesk) – Shares in Endace sank 13 percent after the Auckland-based company, which commercialised cyber-security research done by Waikato University, slashed its annual profit forecast in half. More >>
NZ dollar rises to 3-week high on signs of economic growth
Tuesday, 20 March 2012, 9:05 am | BusinessDesk
March 20 (BusinessDesk) – The New Zealand dollar rose to a three week on signs the local economy is picking up pace and after a Federal Reserve official suggested the US recovery is becoming “more established”. More >>
While you were sleeping: One Apple boost a day...
Tuesday, 20 March 2012, 7:22 am | BusinessDesk
March 20 (BusinessDesk) - Stocks on Wall Street climbed to further highs, lifting the Standard & Poor's 500 to within 10 percent of its 2007 record, as Apple said it will start paying a dividend and buy back US$10 billion of its shares. More >>
Majority-owned stocks to fall in new NZX50 weightings
Monday, 19 March 2012, 6:12 pm | BusinessDesk
March 19 (BusinessDesk) – NZX, the stock exchange operator, has gone with the popular choice and is switching its index weightings to a ‘pure free float’, meaning only stock not held in a majority stake is counted. More >>
Super-mayors, cities encouraged in local govt role reform
Monday, 19 March 2012, 6:10 pm | BusinessDesk
March 19 (BusinessDesk) – Reforms to roll back to expansion of local government activities and to encourage amalgamations like the Auckland “super-city” aim to end 10 years of high annual rates increases and wind back expanding local government ... More >>
Super-mayors, cities encouraged in local govt role reforms
Monday, 19 March 2012, 6:06 pm | BusinessDesk
March 19 (BusinessDesk) – Reforms to roll back to expansion of local government activities and to encourage amalgamations like the Auckland “super-city” aim to end 10 years of high annual rates increases and wind back expanding local government ... More >>
