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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 1401]
NZ accommodation falls in January amid tepid demand
Monday, 12 March 2012, 11:16 am | BusinessDesk
March 12 (BusinessDesk) – New Zealand’s hotels and motels reported fewer guest nights in January amid dwindling demand from foreigners, even as the nation enjoyed a record number of international visitors for that month. More >>
Fonterra cuts 2012 payout forecast on strong kiwi
Monday, 12 March 2012, 9:49 am | BusinessDesk
March 12 (BusinessDesk) – Fonterra Cooperative Group cut its forecast payout for the 2011/12 season, citing the rising New Zealand dollar, declining global prices of commodities and increased production from Northern Hemisphere rivals. More >>
NZ dollar falls as upbeat US data damps expectation for QE3
Monday, 12 March 2012, 8:53 am | BusinessDesk
March 12 (BusinessDesk) – The New Zealand dollar fell as better-than-expected US data dimmed the chance of more monetary stimulus from the Federal Reserve, and sapped demand for the kiwi. More >>
MARKET CLOSE: NZ shares join global rally; Warehouse gains
Friday, 9 March 2012, 5:58 pm | BusinessDesk
March 9 (BusinessDesk) – New Zealand shares rose, led by Warehouse Group, which posted its results on a day global equity markets advanced and provided some relief it didn’t reveal carnage from a weak retail market. More >>
NZ dollar gains ahead of US employment data, Greek debt-swap
Friday, 9 March 2012, 5:44 pm | BusinessDesk
March 9 (BusinessDesk) – The New Zealand dollar rose in the local trading session as investors ignored Reserve Bank Governor Alan Bollard’s jawboning amid optimism US employment is on the mend and Greece finalises its debt-swap. More >>
MONEY TALKS: Minnesota Jim borrows more cheaply than NZ govt
Friday, 9 March 2012, 5:19 pm | BusinessDesk
Minnesota-based advertising executive Jim Cousins has neither a credit rating nor a captive tax revenue base but he still managed to refinance his home loan more cheaply than the New Zealand government can borrow. More >>
UPDATED: Pike River sale clinched in one week: receiver
Friday, 9 March 2012, 5:16 pm | BusinessDesk
March 9 (BusinessDesk) – The sale of the Pike River Coal mine was agreed in just the past week after the process stalled last year as interested parties set various conditions on their bids, the receivers say. More >>
Looming public sector cuts may accelerate Welly's decline
Friday, 9 March 2012, 3:38 pm | BusinessDesk
March 9 (BusinessDesk) – Wellington’s decline in public sector jobs helped contribute to a 16-year high in city’s unemployment rate in the December quarter, stoking concerns the local economy will continue suffer as the lid comes down on the state ... More >>
Z Energy seeks better returns from industry shared services
Friday, 9 March 2012, 3:19 pm | BusinessDesk
March 9 (BusinessDesk) – New Zealand’s largest transport fuels retailer, Z Energy, will use upcoming negotiations on industry-wide infrastructure and transport arrangements to improve commercial returns on an industry it says “seems trapped in an economically ... More >>
Warning as NZ banks ‘return to old forex tricks’
Friday, 9 March 2012, 3:01 pm | BusinessDesk
March 9 (BusinessDesk) – Exporters need to be wary of banks dropping premiums on foreign currency hedges in exchange for leveraged exposure to the risk of markets turning against them, says corporate treasury adviser Asia-Pacific Risk Management. More >>
Solid Energy agrees to buy Pike River mine
Friday, 9 March 2012, 2:05 pm | BusinessDesk
March 9 (BusinessDesk) – State-owned coal miner Solid Energy has agreed to buy the Pike River Coal mine for an undisclosed sum. More >>
Tasmania’s Gunns in trading halt after Chandler walks away
Friday, 9 March 2012, 1:35 pm | BusinessDesk
March 9 (BusinessDesk) – Gunns, the ASX-listed forest plantation owner, is in a trading halt as it looks for new capital after New Zealand-born billionaire Richard Chandler backed out of a cornerstone role in a A$280 million deal. More >>
JBWere sees diminishing returns on bonds
Friday, 9 March 2012, 1:26 pm | BusinessDesk
March 9 (BusinessDesk) – JBWere, the private wealth manager owned by National Australia Bank and Goldman Sachs, says it may be time to reduce holdings of bonds interest rates plumb new lows. More >>
Briscoe posts record annual profit on rising sales
Friday, 9 March 2012, 12:15 pm | BusinessDesk
March 9 (BusinessDesk) - Briscoe Group, the homeware and sporting goods retailer, posted a record full-year profit as it boosted sales across its brands and kept costs in check. The shares climbed 2 percent. More >>
MIDDAY UPDATE: Kiwis flash less plastic in Feb
Friday, 9 March 2012, 12:11 pm | BusinessDesk
MIDDAY UPDATE: Kiwis flash less plastic in Feb March 9 (BusinessDesk) – New Zealanders spent less on their credit and debit cards in February, led by a decline in spending on accommodation, bars, restaurants and clothing. The value of total transactions ... More >>
Westpac NZ gets new chief after Frazis heads to St George
Friday, 9 March 2012, 11:34 am | BusinessDesk
March 9 (BusinessDesk) – Westpac Banking has appointed Peter Clare to lead its New Zealand unit after tapping existing chief executive George Frazis to head up St George Banking. More >>
NZ credit, debit card spending falls in February
Friday, 9 March 2012, 11:23 am | BusinessDesk
March 9 (BusinessDesk) – New Zealanders spent less on their credit and debit cards last month, led by a decline in spending on accommodation, bars, restaurants and clothing. More >>
Warehouse margins shrink in first-half as sales rise
Friday, 9 March 2012, 9:36 am | BusinessDesk
Warehouse margins shrink in first-half as sales rise; one-time gain lifts net profit by 3.3% More >>
APN shareholders to vote on new funding line for outdoor JV
Friday, 9 March 2012, 9:34 am | BusinessDesk
March 9 (BusinessDesk) – APN News & Media, which publishes the New Zealand Herald newspaper, will seek shareholder approval to arrange a new funding line for its outdoor advertising joint venture with Quadrant Private Equity. More >>
While you were sleeping: Greek swap on track
Friday, 9 March 2012, 6:56 am | BusinessDesk
March 9 (BusinessDesk) - Optimism that a debt swap by Greece required to advance to the next round in its financial rescue—pulling the nation back from the brink of default disaster—will draw enough interest underpinned stock markets on both ... More >>
