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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 1424]
Crown adopted ‘divide and conquer' tactic in Lombard case
Thursday, 2 February 2012, 2:21 pm | BusinessDesk
Feb. 2 (BusinessDesk) – The Crown succeeded in its attempt to split up the directors of Lombard Finance & Investments, who are being defended by three different counsel, according to the defence. More >>
Treasury cuts 2013 GDP forecast to 3%, citing global outlook
Thursday, 2 February 2012, 2:11 pm | BusinessDesk
Feb. 2 (BusinessDesk) – The Treasury has lowered its forecast for economic growth for 2013, citing volatile and more expensive global credit markets and the likely impact on commodity prices of a weaker global economy. More >>
NZ commodity prices rise for first time in 8 months
Thursday, 2 February 2012, 1:29 pm | BusinessDesk
Feb. 2 (BusinessDesk) – New Zealand commodity prices rose for the first time in eight months in January, led by aluminium and dairy products, though the high kiwi dollar wiped out the benefits in local currency terms. More >>
MIDDAY UPDATE: Xero taps shareholders; NZ dollar gains
Thursday, 2 February 2012, 12:11 pm | BusinessDesk
Feb. 2 (BusinessDesk) – Xero, the cloud-based accounting platform provider, is tapping major shareholders in a bid to raise $20 million, while also announcing it has acquired the remaining 84 percent of Auckland-based software-company Max Solutions. More >>
New Image CFO Beuth to leave this month
Thursday, 2 February 2012, 11:13 am | BusinessDesk
Feb. 2 (BusinessDesk) – New Image Group, which develops colostrum-based health tonics, has announced the resignation of Simon Beuth, its chief financial officer, in a statement to the NZX. More >>
Aussie brain-drain myth exposed
Thursday, 2 February 2012, 10:50 am | BusinessDesk
Feb. 2 (BusinessDesk) – The much-vaunted brain drain to Australia is no worse than it has ever been, and is actually smaller as a proportion of New Zealand’s total population than it was 40 years ago, a major study by the Department of Labour has ... More >>
Xero taps major shareholders for $20M, buys rest of Max
Thursday, 2 February 2012, 10:43 am | BusinessDesk
Feb. 2(BusinessDesk) – Xero, the cloud-based accounting platform provider, raised $20 million in a placement to major shareholders and will offer new shares to other investors at the same price after electing to chase global revenue growth at the ... More >>
NZ business owners struggle to take a break, survey shows
Thursday, 2 February 2012, 10:03 am | BusinessDesk
Feb. 2 (BusinessDesk) – New Zealand business owners recorded one of the biggest reductions in holidays last year, with employers working harder to support staff and reduce stress levels, according to the Grant Thornton International Business ... More >>
Ageing Tiwai Point smelter still pumping it out
Thursday, 2 February 2012, 9:48 am | BusinessDesk
Feb. 2 (BusinessDesk) – Rio Tinto’s 40 year-old aluminium smelter at Tiwai Point, near Bluff, had its biggest production year ever in 2011, churning out 354,0309 tonnes of saleable aluminium, up from a previous record of 352,976 tonnes in 2007. More >>
Briscoe 4Q sales rise 4.7%; FY profit gained at least 25%
Thursday, 2 February 2012, 9:40 am | BusinessDesk
Feb. 2 (BusinessDesk) - Briscoe Group, the home ware and sporting goods retailer, posted a 4.7 percent gain in fourth-quarter sales and said a strong finish to the year drove annual profit up at least 25 percent. More >>
NZ dollar extends rally on upbeat manufacturing data
Thursday, 2 February 2012, 8:51 am | BusinessDesk
Feb. 2 (BusinessDesk) – The New Zealand dollar rose to a new 4 ½ month-high against the greenback and held near a decade-high against the euro as upbeat manufacturing data across economic powerhouses the United States, Europe and China expanded, indicating ... More >>
While you were sleeping: Global manufacturing boost
Thursday, 2 February 2012, 7:27 am | BusinessDesk
Feb. 2 (BusinessDesk) - Manufacturing numbers from the US, China and Germany bettered expectations, renewing optimism for the global economic outlook and encouraging investors to take on risk. More >>
NZ dairy product prices slip 0.9%, third decline in 4 sales
Thursday, 2 February 2012, 6:42 am | BusinessDesk
Feb. 2 (BusinessDesk) – Prices of dairy products sold on Fonterra Cooperative Group’s GlobalDairyTrade platform fell for the third time in four sales with declines for all six product types on offer. More >>
Crown attacks on Lombard directors ‘inappropriate’: defence
Wednesday, 1 February 2012, 6:11 pm | BusinessDesk
Feb. 1 (BusinessDesk) – The Crown prosecution’s decision to attack the credibility of Lombard Finance & Investment’s directors in its closing arguments was “inappropriate” and should have been put to them when they were on the witness stand, the directors’ ... More >>
MARKET CLOSE: NZ shares mixed; Telecom gains, Fletcher falls
Wednesday, 1 February 2012, 6:03 pm | BusinessDesk
Feb. 1 (BusinessDesk) - New Zealand shares were mixed, with the NZX 50 Index eking out a small gain though more stock fell. Telecom led gainers, reaching the highest since the spin-off of its Chorus network unit last year. Fletcher Building fell after ... More >>
NZ dollar slips from 4 ½ month high after weak US data
Wednesday, 1 February 2012, 5:31 pm | BusinessDesk
Feb. 1 (BusinessDesk) – The New Zealand dollar retreated from its 4 ½-month high versus the greenback, as weaker-than-expected US data sapped optimism the world’s biggest economy is on a firm path to recovery. More >>
Chrisco fined $175,000 for misleading, overcharging clients
Wednesday, 1 February 2012, 5:17 pm | BusinessDesk
Feb. 1 (BusinessDesk) - Christmas hamper company Chrisco has been fined $175,000 by the Manukau District Court after pleading guilty to misleading and overcharging customers. More >>
Govt doesn’t want to lump investors with Treaty obligations
Wednesday, 1 February 2012, 5:05 pm | BusinessDesk
Feb. 1 (BusinessDesk) – The government doesn’t want its Treaty of Waitangi obligations to spill over on to private investors in its asset-sale plan and will put forward its preferred option to iwi in a series of consultation hui over the next two weeks. More >>
Lombard directors acted with honesty, integrity: defence
Wednesday, 1 February 2012, 1:44 pm | BusinessDesk
Feb. 1 (BusinessDesk) – The directors of Lombard Finance & Investments acted with honesty and integrity, using the best information they had available to them, according to the defence counsel. More >>
From the Farm: Thinking global (again)
Wednesday, 1 February 2012, 12:53 pm | BusinessDesk
There’s been plenty of column inches expended, including right here, on the pros and cons of foreign ownership of New Zealand’s limited supply of farmland. More >>
