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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 1458]
NZ dollar gains from 8-month low after Key victory
Monday, 28 November 2011, 9:07 am | BusinessDesk
Nov. 28 (BusinessDesk) – The New Zealand dollar gained from an eight-month low after the National Party was returned to power with its largest majority in 60 years and as investors continued to fret over Europe’s sovereign debt crisis. More >>
World Week Ahead: Debt auctions in Europe
Monday, 28 November 2011, 7:09 am | BusinessDesk
World Week Ahead: Debt auctions in Europe By Margreet Dietz Nov. 28 (BusinessDesk) - As several Europe Union members prepare to auction government debt this week, the appetite of investors to buy the stuff, as well as the risk premium they demand, ... More >>
UPDATED: Burger Fuel turns profitable in 1H on Middle East
Friday, 25 November 2011, 7:40 pm | BusinessDesk
UPDATED: Burger Fuel turns profitable in first-half as Middle East franchise fees kick in More >>
MARKET CLOSE: NZX 50 falls to 3-mth low ahead of poll
Friday, 25 November 2011, 6:02 pm | BusinessDesk
Nov. 25 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 Index to a three-month low, as investors punished companies that delivered disappointing earnings, including Fisher & Paykel Appliances and Warehouse Group. More >>
NZ dollar stays down in lead up to general election
Friday, 25 November 2011, 5:33 pm | BusinessDesk
Nov 25 (BusinessDesk) – The New Zealand dollar is stuck around eight month lows, falling 1.9 percent over the week in the lead-up to tomorrow’s general election. More >>
MONEY TALKS: How’s that property market feeling?
Friday, 25 November 2011, 2:33 pm | BusinessDesk
The latest piece of data on the nation’s housing affordability won’t be giving the Reserve Bank any pause for relief, but investors with a rental property or two will be chuffed to see tenants are paying a goodly chunk more than they did a few ... More >>
Energy Mad loses bid to quash claim from pre-IPO adviser
Friday, 25 November 2011, 1:20 pm | BusinessDesk
Nov. 25 (BusinessDesk) - Energy Mad, the energy-efficient light bulb company, has lost a High Court bid to quash a demand for payment from a firm that helped arrange funding prior to its initial public offering and NZX listing. More >>
Chatham Rock Phosphate delays IPO, first half loss widens
Friday, 25 November 2011, 12:58 pm | BusinessDesk
Nov. 25 (BusinessDesk) – Chatham Rock Phosphate, which is developing a project to mine phosphate from the sea floor for use as a fertiliser, has announced it will delay its proposed $40 million initial public offering till next year, sighting uncertain ... More >>
Midday update: Lloyd’s flicks NZ properties to Goldman Sachs
Friday, 25 November 2011, 12:17 pm | BusinessDesk
Nov. 25 (BusinessDesk) – A consortium of investment bank Goldman Sachs and Brookfield Asset Management has won the bid to buy a billion-dollar New Zealand loan portfolio that has fallen out of the Bank of Scotland International, which was rescued by the ... More >>
Rena operators reveal more dangerous goods
Friday, 25 November 2011, 12:17 pm | BusinessDesk
Nov. 25 (BusinessDesk) – Maritime New Zealand is conducting an urgent investigation into the latest example of maladministration on the reef-bound container ship Rena, with the late disclosure by the Mediterranean Shipping Corporation of 21 previously ... More >>
Midday update: Lloyd’s flicks NZ properties to Golman Sachs
Friday, 25 November 2011, 11:56 am | BusinessDesk
Nov. 25 (BusinessDesk) – A consortium of investment bank Goldman Sachs and Brookfield Asset Management has won the bid to buy a billion-dollar New Zealand loan portfolio that has fallen out of the Bank of Scotland International, which was rescued by the ... More >>
No decision yet on ANZ job losses as Nokia culls 17,000
Friday, 25 November 2011, 11:14 am | BusinessDesk
Nov. 25 (BusinessDesk) – Nokia Siemens Networks, the wireless equipment maker, says it hasn’t yet determined how many jobs will be eliminated in New Zealand and Australia as part of its plan to cull a quarter of its global workforce. More >>
Warehouse expects annual net profit to fall about 8%
Friday, 25 November 2011, 10:55 am | BusinessDesk
Nov. 25 (BusinessDesk) - Warehouse Group, the biggest retailer on the NZX 50 Index, expects adjusted annual net profit to fall about 8 percent, reflecting the shorter-term impact of the company's strategic plan and reinvestment program, chairman Graham ... More >>
Tough first half for F&P Appliances sends shares plunging
Friday, 25 November 2011, 10:47 am | BusinessDesk
Nov. 25 (BusinessDesk) – Fisher & Paykel Appliances slashed net profit to $980,000 in the six months to Sept. 30 after provisioning for a battle over software copyright, an onerous Australian lease and unfavourable exchange rate movements. More >>
Tower FY profit falls 43% on quake costs, lower earnings
Friday, 25 November 2011, 10:46 am | BusinessDesk
Nov. 25 (BusinessDesk) – Insurance company Tower posted a 43 percent drop in full-year profit on the costs of the Christchurch earthquakes and reduced revenue from investments. More >>
Air NZ targets $110 mln profit uplift by 2015
Friday, 25 November 2011, 10:10 am | BusinessDesk
Nov. 25 (BusinessDesk) – Air New Zealand, the national carrier, wants to lift annual profit by $110 million by 2015 and is picking a better performance than the latest earnings performance which was sapped by natural disasters in the region. More >>
Goldman-Brookfield group wins bid for BOSI’s NZ loan book
Friday, 25 November 2011, 9:22 am | BusinessDesk
Nov. 25 (BusinessDesk) – A consortium made up of investment bank Goldman Sachs and Brookfield Asset Management has won the bid to buy a billion-dollar New Zealand loan portfolio from Bank of Scotland International. More >>
NZ dollar holds nears 8-month low as election looms
Friday, 25 November 2011, 9:07 am | BusinessDesk
Nov. 25 (BusinessDesk) – The New Zealand dollar held near an eight-month low as ongoing fears over Europe’s sovereign debt crisis nag at investors’ confidence, as the nation prepares for tomorrow’s general election. More >>
While you were sleeping: Merkel says no euro bond
Friday, 25 November 2011, 7:42 am | BusinessDesk
Nov. 25 (BusinessDesk) - German Chancellor Angela Merkel dug in deeper against the calls for common debt issuance and a larger role for the European Central Bank to help stem the crisis in the increasingly troubled euro zone. More >>
TVNZ ‘remains committed’ to Freeview after Sky deal inked
Thursday, 24 November 2011, 6:39 pm | BusinessDesk
TVNZ ‘remains committed’ to Freeview as it signs up to rival box with Sky TV More >>
