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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 1415]
While you were sleeping: US economic engine roars
Friday, 17 February 2012, 8:32 am | BusinessDesk
Feb. 17 (BusinessDesk) - A slew of upbeat data on the American economic recovery supported Wall Street, underpinning expectations corporate profits will improve accordingly. More >>
Tenon buys Victorian manufacturing assets to tap Australia
Thursday, 16 February 2012, 4:36 pm | BusinessDesk
By Hannah Lynch Feb. 16 (BusinessDesk) – Tenon, the NZX-listed company that sells wood mouldings in the US, has bought Australian manufacturing assets in a bid to expand its business outside North America. More >>
Govt to claw back up to 70% owed from Equitable Mortgages
Thursday, 16 February 2012, 4:03 pm | BusinessDesk
Feb. 16 (BusinessDesk) – Taxpayers may claw back as much as 70 percent from the receivership of failed lender Equitable Mortgages, according to the receiver’s latest update. More >>
NZ consumer confidence slips in February as outlook dims
Thursday, 16 February 2012, 1:53 pm | BusinessDesk
Feb. 16 (BusinessDesk) – New Zealand consumer confidence slipped in February, as the economic outlook dimmed, with households feeling less optimistic about their financial well-being. More >>
From the Farm: Hats off to Michael Fay
Thursday, 16 February 2012, 1:46 pm | BusinessDesk
Hats off to Michael Fay. I had thought the judicial review of the approval for Shanghai Pengxin to buy the Crafar Farms was some sort of vanity project – a formality. More >>
PMP plans further cost cutting as sales, earnings slide
Thursday, 16 February 2012, 1:30 pm | BusinessDesk
Feb. 16 (BusinessDesk) - PMP, the ASX-listed magazine printing and distribution company, is embarking on another round of cost cuts after operating earnings tumbled by almost a third in the first half. More >>
Jetstar wins more of NZ domestic market; Qantas profit drops
Thursday, 16 February 2012, 1:22 pm | BusinessDesk
Feb. 16 (BusinessDesk) – Jetstar, the discount brand of Australian airline Qantas Airways, boosted its share of New Zealand’s domestic market, even as its parent reported an 82 percent slump in first-half earnings. More >>
Whistleblowers: try everything else first, for your own good
Thursday, 16 February 2012, 1:22 pm | BusinessDesk
Feb. 16 (BusinessDesk) – Whistleblowers are urged to exhaust every other route, and to prepare well for threats to their personal legal protection before taking the step of making a major allegation against an employer. More >>
Goodman Fielder 1H profit slumps 77%; NZ milling up for sale
Thursday, 16 February 2012, 12:34 pm | BusinessDesk
Feb. 16 (BusinessDesk) – Goodman Fielder, the food ingredients manufacturer whose brands include Edmonds banking products and Vogel’s bread, reported a 77 percent slump in first-half profit, and is looking to ditch its Integro and New Zealand milling ... More >>
h3> MIDDAY UPDATE: Treasury pares growth outlook
Thursday, 16 February 2012, 12:08 pm | BusinessDesk
MIDDAY UPDATE: Treasury predicts gloomy outlook; NZ dollar hits record euro high Feb. 16 (BusinessDesk) – The Treasury has trimmed New Zealand’s forecast growth over the next two years, as global economic turmoil reduces demand for local exports ... More >>
AMP FY profit falls 11% on AXA takeover costs
Thursday, 16 February 2012, 12:07 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Australia-based insurer AMP's full-year net profit fell 11 percent to A$688 million due to the costs of taking over AXA and lower investment returns. More >>
Westpac interest margin shrinks in 3Q as funding costs rise
Thursday, 16 February 2012, 11:59 am | BusinessDesk
Feb. 16 (BusinessDesk) – Westpac Group net interest margin contracted in the first quarter, reflecting higher funding costs and lower Treasury earnings, contributing to a 3.2 percent decline in cash earnings. More >>
Budget to fund “national science challenges”, innovation
Thursday, 16 February 2012, 11:06 am | BusinessDesk
Feb. 16 (BusinessDesk) – A boost to science and innovation funding stands out as the only significant area of new spending not previously signalled for the 2012 Budget. More >>
NZ economic outlook gloomier over next few years: Treasury
Thursday, 16 February 2012, 11:05 am | BusinessDesk
Feb. 16 (BusinessDesk) – The Treasury is more pessimistic, trimming forecast growth for New Zealand for the next two years, as global economic turmoil saps demand for local exports and dents confidence in financial markets. More >>
Debt savings greater than dividend losses from privatisation
Thursday, 16 February 2012, 11:05 am | BusinessDesk
Feb. 16 (BusinessDesk) – Dividends lost as a result of partial privatisation of state-owned enterprises will be more than offset by the savings on government debt that the sales will allow, Finance Minister Bill English’s Budget Policy Statement ... More >>
NZ manufacturing slips in January, remains in expansion
Thursday, 16 February 2012, 10:58 am | BusinessDesk
Feb. 16 (BusinessDesk) – New Zealand manufacturing weakened in January though it remained in expansion, led by food processing companies, suggesting the economy’s gradual recovery is on track. More >>
Job ads fell 2.7% in January; jobless rate unlikely to fall
Thursday, 16 February 2012, 10:33 am | BusinessDesk
Feb. 16 (BusinessDesk) - ANZ Bank said its survey showed job advertisements fell 2.7 percent in January on top of a 2.6 percent drop in December, suggesting little improvement in the unemployment rate in the next few months. More >>
Tekapo sale dents ‘stable’ Meridian earnings
Thursday, 16 February 2012, 10:04 am | BusinessDesk
Feb. 16 (BusinessDesk) – Meridian Energy has reported stable earnings for the six months to Dec. 31, though the sale of its Tekapo A and B hydro stations to fellow state-owned generator Genesis Energy saw profit fall 20 percent to $98.9 million. More >>
Michael Hill 1H profit up 11.5%, Australian margins shrink
Thursday, 16 February 2012, 9:45 am | BusinessDesk
Feb, 16 (BusinessDesk) – Michael Hill International Ltd., the listed jewellery chain, posted an 11.5 percent increase in first-half sales as improved returns in New Zealand, Canada and the US made up for shrinking margins in Australia. More >>
Fonterra dairy prices fall 3% to two-month low
Thursday, 16 February 2012, 8:46 am | BusinessDesk
Feb. 16 (BusinessDesk) – Prices of dairy products sold on Fonterra Cooperative Group’s GlobalDairyTrade platform fell 3 percent to a two-month low in the latest auction. More >>
