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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 1419]
New Image reports first-half loss as Malaysian sales fall
Friday, 10 February 2012, 3:28 pm | BusinessDesk
Feb. 10 (BusinessDesk) – New Image, which makes colostrum-based health tonics, fell into the red in the first half after Malaysian pharmacies and retailers discounted the manufacturer’s drink powders, eroding sales. More >>
Toll Holdings boosts sales, earnings in New Zealand
Friday, 10 February 2012, 3:24 pm | BusinessDesk
Feb. 10 (BusinessDesk) – Toll Holdings, which competes with Mainfreight in New Zealand’s transport and logistics sector, lifted revenue last year, driving a 47 percent gain in operating earnings. More >>
Vodafone sheds customers as rival 2degrees wins market share
Friday, 10 February 2012, 12:39 pm | BusinessDesk
Feb. 10 (BusinessDesk) – Vodafone New Zealand, the country’s biggest mobile phone operator, reported a drop in customer numbers, as new market entrant Two Degrees Mobile wins subscribers of its larger rivals. More >>
MIDDAY UPDATE: Tributes flow for Lloyd Morrison
Friday, 10 February 2012, 12:01 pm | BusinessDesk
Feb.10 (BusinessDesk) – Lloyd Morrison, businessman, philanthropist, patron of the arts and sports, has died after a battle with cancer, aged 54. More >>
Lloyd Morrison leaves big shoes to fill in NZ leadership
Friday, 10 February 2012, 11:37 am | BusinessDesk
Feb. 10 (BusinessDesk) – With the untimely death of Wellington businessman and identity Lloyd Morrison at the age of 54, New Zealand has lost one of its singular characters, let alone business leaders. More >>
NZ credit, debit card spending rises in January
Friday, 10 February 2012, 11:25 am | BusinessDesk
Feb. 10 (BusinessDesk) – New Zealanders returned to the stores in January as spending on credit and debit cards rose last month. More >>
BurgerFuel expands into Qatar, shares jump
Friday, 10 February 2012, 11:20 am | BusinessDesk
Feb. 10 (BusinessDesk) – Burger Fuel Worldwide, the local fast-food chain targeting growth in the Middle East, has signed a master license agreement to roll out stores in Qatar. The shares rose almost 5 percent. More >>
Xero founders sell $5 million of shares
Friday, 10 February 2012, 11:09 am | BusinessDesk
Feb. 10 (BusinessDesk) – Xero chief executive Rod Drury and two other founders have sold $5 million of shares to institutions and to Brad Shofer, who joins fellow MYOB founder Craig Winkler among the cloud-based accounting platform’s top 20 investors. More >>
NZX gets nod to run Fonterra’s in-house share-trading
Friday, 10 February 2012, 10:21 am | BusinessDesk
Feb. 10 (BusinessDesk) – NZX, the stock exchange operator, has been given the nod that Fonterra Cooperative Group wants it to run its private shareholder market. More >>
Infratil founder Lloyd Morrison dead at 54
Friday, 10 February 2012, 9:08 am | BusinessDesk
Feb. 9 (BusinessDesk) – Infratil founder, Wellington identity and national flag campaigner Lloyd Morrison has died after a battle with cancer, aged 54. More >>
Weak lending takes pressure off banks’ funding needs: PwC
Friday, 10 February 2012, 8:49 am | BusinessDesk
Feb. 10 (BusinessDesk) – Banks will be able to self-fund their operations through 2012 because ongoing weak lending demand and savings growth means retail deposit funding will grow faster than lending, according to a report by PwC. But static lending ... More >>
NZ Dollar holds near 5-month high as Greece cuts debt deal
Friday, 10 February 2012, 8:29 am | BusinessDesk
Feb. 10 (BusinessDesk) – The New Zealand dollar held-near a five-month high against the greenback as Greek leaders finally agreed on policy reform and austerity measures needed to secure a new rescue package and avoid defaulting on its debt repayments. More >>
While you were sleeping: Greeks agree
Friday, 10 February 2012, 7:42 am | BusinessDesk
Feb. 10 (BusinessDesk) - Shares in Europe and on Wall Street advanced as Greek leaders finally agreed on reforms and austerity measures needed to secure a new rescue package to avoid default on its debt payments. More >>
NZ dollar stumbles after weak jobs data; Greek deal looms
Thursday, 9 February 2012, 6:59 pm | BusinessDesk
Feb. 9 (BusinessDesk) – The New Zealand dollar declined after government figures showed tepid jobs growth in the final three months of last year and sapped demand for the currency, amid mounting speculation Greece will finally cut a deal with its ... More >>
South Port posts 12.3% loss; affirms full year guidance
Thursday, 9 February 2012, 6:14 pm | BusinessDesk
Feb. 9 (BusinessDesk) – South Port New Zealand, which operates the nation’s southern-most port at Bluff, posted a 12.3 percent decline in first half profit, while affirming its guidance for full year earnings. More >>
MARKET CLOSE: NZ shares extend gains, led by retailers
Thursday, 9 February 2012, 6:09 pm | BusinessDesk
Feb. 9 (BusinessDesk) – New Zealand shares extended gains for a fourth day led by retailers as the sector starts to show renewed signs of vigour. Pumpkin Patch led gainers. More >>
CORRECTION: NZ Experience says 1H profit fell about 25%
Thursday, 9 February 2012, 5:55 pm | BusinessDesk
(Corrects story that first ran yesterday that compared the first-half result with the full-year guidance) More >>
New oil, gas exploration blocks offered under new NZ policy
Thursday, 9 February 2012, 4:51 pm | BusinessDesk
Feb. 9 (BusinessDesk) – The government is seeking bids from oil and gas explorers for 25 pre-determined onshore and offshore exploration blocks under a new policy that limits the number and location of new exploration sites. More >>
Solid Energy seeks consent for 5M tonne Stockton coal mine
Thursday, 9 February 2012, 4:19 pm | BusinessDesk
Feb. 9 (BusinessDesk) – State-owned coal miner Solid Energy has lodged resource consent applications for major new mining operations on the Stockton Plateau, targeting five million tonnes of high-grade coking coal, which is in demand internationally ... More >>
UPDATED: Mariner onsells GPG food asset for A$850k
Thursday, 9 February 2012, 3:41 pm | BusinessDesk
Feb. 9 (BusinessDesk) – Mariner Corp, the ASX-listed investment company, has immediately on sold one of the Guinness Peat Group food assets it bought this month. Its shares jumped by a fifth on the ASX. More >>
