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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 1413]
ICT Minister Adams cool on regulating broadband content
Tuesday, 21 February 2012, 10:38 am | BusinessDesk
Feb. 21 (BusinessDesk) – Communications and Information Technology Minister Amy Adams will take a hands-off approach to the prospect of regulating video content delivered over a high-speed internet platform. More >>
Tourism Holdings, Kea form campervan manufacturing JV
Tuesday, 21 February 2012, 10:28 am | BusinessDesk
Feb. 21 (BusinessDesk) – Tourism Holdings, the largest provider of holiday rental vehicles in New Zealand and Australia, has formed a joint venture with campervan and motorhome designer and manufacture, Kea, slashing 63 jobs. More >>
Contact 1H profit tumbles 19 percent as low lake levels bite
Tuesday, 21 February 2012, 10:00 am | BusinessDesk
Feb. 21 (BusinessDesk) – Contact Energy posted a 19 percent drop in first-half profit, missing estimates, on low inflows into hydro storage lakes, lower margins on mass market tariffs and “an unfavourable generation fuel mix”. More >>
Solid Energy 1H profit jumps 56% on record coal sales
Tuesday, 21 February 2012, 9:42 am | BusinessDesk
Feb. 21 (BusinessDesk) – Solid Energy, the state-owned coal miner slated for partial sale, posted a 56 percent jump in first-half profit on record sales while warning earnings in the second half will be “substantially” down because of weaker coal ... More >>
Labour Dept closes Solid Energy mine on safety concerns
Tuesday, 21 February 2012, 8:30 am | BusinessDesk
Feb. 21 (BusinessDesk) – Solid Energy, the state-owned coal miner, has stopped work at its Spring Creek underground mine after being issued with a prohibition notice by the Department of Labour. More >>
NZ dollar holds near five-month high on Greek aid optimism
Tuesday, 21 February 2012, 8:24 am | BusinessDesk
Feb. 21 (BusinessDesk) – The New Zealand dollar held near its five-month high against the greenback on optimism euro-zone finance ministers will agree on a second financial rescue package for Greece. More >>
While you were sleeping: Greek rescue imminent
Tuesday, 21 February 2012, 7:18 am | BusinessDesk
Feb. 21 (BusinessDesk) - Stocks advanced amid expectations a deal on Greece's second financial rescue was imminent and that China was moving to increase liquidity at its banks. More >>
SmartPay cuts earnings guidance, flags new funding model
Monday, 20 February 2012, 5:55 pm | BusinessDesk
Feb. 20 (BusinessDesk) – SmartPay, which provides Eftpos terminals to retailers, has cut its forecast annual earnings, and flagged a new plan to fund the business. More >>
Auckland Council credit rating off CreditWatch
Monday, 20 February 2012, 3:17 pm | BusinessDesk
Feb. 20 (BusinessDesk) – Auckland Council has had its credit rating affirmed and taken off CreditWatch negative, but agency Standard & Poor’s warned a more aggressive spending programme could put pressure on the local body. More >>
SMELLIE ON SMEs: Breaking the law and whistleblowing
Monday, 20 February 2012, 1:40 pm | BusinessDesk
Maybe it’s a sanitation or licencing issue. Maybe it’s cash under the table. Maybe you are illegally employing people who don’t have a right to work in New Zealand. Maybe you’re treating such workers poorly. More >>
MIDDAY UPDATE: NZX to cancel shares, return up to $35M
Monday, 20 February 2012, 11:59 am | BusinessDesk
Feb. 20 (BusinessDesk) – NZX, the stock market operator, plans to return as much as $35 million to shareholders via a one-in-10 share cancellation after reporting a 56 percent increase in full-year profit. More >>
NZ producer prices show tepid growth in December
Monday, 20 February 2012, 11:50 am | BusinessDesk
Feb. 20 (BusinessDesk) – New Zealand manufacturers continued to report tepid input and output price inflation in the final three months of last year, embedding the idea that the Reserve Bank won’t have to hurry to raise interest rates. More >>
NZ Dollar Outlook: Kiwi may rise on Greek hope, China growth
Monday, 20 February 2012, 11:30 am | BusinessDesk
Feb. 20 (BusinessDesk) – The New Zealand dollar may rise on optimism a meeting between European finance ministers will lead a second bailout package for Greece and after China took steps to underpin growth in its economy. More >>
NZ service sector expands on positive employment signs
Monday, 20 February 2012, 11:11 am | BusinessDesk
Feb. 20 (BusinessDesk) - New Zealand’s services sector growth expanded in January, led by positive employment signals and an improvement in retail trades. More >>
UPDATED: NZ govt 1H operating deficit in line with forecasts
Monday, 20 February 2012, 11:06 am | BusinessDesk
UPDATED: NZ govt 1H operating deficit in line with forecasts, Treasury warns on corporate tax More >>
NZ govt 1H operating deficit in line with forecasts
Monday, 20 February 2012, 10:56 am | BusinessDesk
Feb. 20 (BusinessDesk) – The New Zealand government’s first-half operating deficit was in line with expectations, though the Treasury warned the corporate tax take may taper off through the second half of the year. More >>
NZX to cancel shares, return up to $35M; FY profit jumps 56%
Monday, 20 February 2012, 10:51 am | BusinessDesk
Feb. 20 (BusinessDesk) – NZX, the stock market operator, plans to return as much as $35 million to shareholders via a one-in-10 share cancellation after reporting a 56 percent increase in full-year profit. More >>
Property For Industry FY earnings fall 13%
Monday, 20 February 2012, 9:27 am | BusinessDesk
Feb. 20 (BusinessDesk) – Property For Industry, whose management contract was sold to DPF Management last year, reported a 13 percent decline in annual earnings as it lost tenants and downsized its portfolio. More >>
NZ dollar rises as Greek debt-deal looms
Monday, 20 February 2012, 8:36 am | BusinessDesk
Feb. 20 (BusinessDesk) – The New Zealand dollar rose on optimism European finance ministers will approve a second bail out for Greece boosting demand for higher- yielding assets. More >>
Tough first half for Tenon; hopes for US housing uptick
Friday, 17 February 2012, 6:17 pm | BusinessDesk
Feb. 17 (BusinessDesk) – Wood-mouldings maker Tenon sank to a US$6 million first-half net loss, with one-off restructuring costs, a strong kiwi dollar and weak US housing starts to blame. More >>
