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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 1473]
NZ wage inflation accelerates in third quarter
Tuesday, 1 November 2011, 10:54 am | BusinessDesk
Nov. 1 (BusinessDesk) – New Zealand wage inflation accelerated in the third quarter, though is still soft enough to keep the central bank wary of hiking interest rates with private sector wages climbing at a softer-than-expected pace. More >>
Commerce Commission sets maximum revenues for Transpower
Tuesday, 1 November 2011, 9:25 am | BusinessDesk
Nov. 1 (BusinessDesk) - The Commerce Commission has set maximum revenue levels for state-owned national grid operator Transpower for the three years from April 2012. More >>
Ryman buys land in Melbourne for first Australian site
Tuesday, 1 November 2011, 9:14 am | BusinessDesk
Nov. 1 (BusinessDesk) – Ryman Healthcare, the retirement village operator, has bought land in Melbourne in its first step across the Tasman. More >>
NZ dollar dribbles lower ahead of RBA decision
Tuesday, 1 November 2011, 8:18 am | BusinessDesk
Nov. 1 (BusinessDesk) – The New Zealand dollar gave up some gains against the yen and crept up against the greenback as the focus turned to a Reserve Bank of Australia policy decision this afternoon. More >>
Comvita tells shareholders Cerebos bid too low
Monday, 31 October 2011, 6:03 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Comvita, the manuka honey-based heatheries maker, has told shareholders not to accept a $2.50-per-share offer from Cerebos New Zealand to take control of the company, saying it’s not good enough. More >>
MARKET CLOSE: NZ shares gain, led by Cavalier, OceanaGold
Monday, 31 October 2011, 5:58 pm | BusinessDesk
Oct. 31 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index to a two-week high, with gold miner OceanaGold and carpet-maker Cavalier leading the advance, while Fletcher Building fell. More >>
NZ dollar surges vs yen on Bank of Japan intervention
Monday, 31 October 2011, 5:47 pm | BusinessDesk
Oct. 31 (BusinessDesk) – The New Zealand dollar surged as much as 3.8 percent against the yen after the Bank of Japan made its third bid to devalue its currency this year. More >>
Hobbit to reap $20.2M from taxpayers in first year
Monday, 31 October 2011, 2:53 pm | BusinessDesk
Oct. 31 (BusinessDesk) – The production company for Peter Jackson’s The Hobbit racked up $20.2 million for its tax rebate in the first actual year of production, according to its financial statements. More >>
TrustPower first-half profit rises 15% on increased output
Monday, 31 October 2011, 2:16 pm | BusinessDesk
Oct. 31 (BusinessDesk) – TrustPower, the utility controlled by Infratil, posted a 15 percent increase in first-half profit on revenue from its Snowtown wind farm, increased NZ production and higher wholesale electricity prices. More >>
Telecom credit rating cut to BBB+ by Fitch on demerger
Monday, 31 October 2011, 1:59 pm | BusinessDesk
Oct. 31 (BusinessDesk) – Telecom’s long-term foreign currency credit rating has been cut one notch by Fitch Ratings, with the agency carrying out its threat after shareholders last week signed off on carving the company in two. More >>
Politicians weigh in on Pike River Mine asset sale
Monday, 31 October 2011, 12:23 pm | BusinessDesk
Oct. 31 (BusinessDesk) - The sale of Pike River Coal's assets is attracting comment from election candidates but state-owned coal miner Solid Energy is mum on a report that it is teaming up with China's Shanxi Corp to buy New Zealand's largest known ... More >>
AWF blames RWC for shortfall in profit growth, shares gain
Monday, 31 October 2011, 12:10 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Contract labour company AWF Group is blaming the Rugby World Cup for falling short of its own profit growth guidance. More >>
Midday update: Big power users to face hedge checks
Monday, 31 October 2011, 11:56 am | BusinessDesk
Oct. 31 (BusinessDesk) – Major electricity users will find it harder to lobby for political intervention over high power prices under a new regime to be introduced by the Electricity Authority from mid-2012. The new “stress-testing” regime announced ... More >>
NZ building consents sink in September as growth stalls
Monday, 31 October 2011, 11:42 am | BusinessDesk
Oct. 31 (BusinessDesk) –New Zealand building consents stalled in September with its first monthly decline in five eroding gains over the past two months. More >>
Key touts National's 'positive vision for NZ'
Monday, 31 October 2011, 11:01 am | BusinessDesk
Oct. 31 (BusinessDesk) - Prime Minister John Key, facing a narrowing of National's lead over Labour in the latest opinion poll, says the ruling party has a 'positive vision' for New Zealand while the Opposition would borrow more to increase spending. More >>
Property For Industry nine-month earnings slide 15%
Monday, 31 October 2011, 10:58 am | BusinessDesk
Oct. 31 (BusinessDesk) – Property For Industry, the industrial property investor, reported a 15 percent fall in distributable earnings just one month after fund manager AMP Capital Investors agreed to sell the management contract. More >>
NZ Dollar Outlook: Big week of rate decisions and data
Monday, 31 October 2011, 10:53 am | BusinessDesk
Oct. 31 (BusinessDesk) – The New Zealand dollar is expected to rise early in the week and ease later in the week as investors absorb developments in the European financial crisis and monetary policy decisions in Australia, the United States and ... More >>
NZX 3Q sales rise 14%, driven by agricultural data, listings
Monday, 31 October 2011, 9:53 am | BusinessDesk
Oct. 31 (BusinessDesk) - NZX reported a 14 percent gain in third-quarter profit, driven by sales of agricultural data, listings and securities clearing services. More >>
Qantas to resume flights after tribunal orders end to strike
Monday, 31 October 2011, 9:51 am | BusinessDesk
Oct. 31 (BusinessDesk) – Qantas Airways is set to resume flights today after Australia's workplace relations tribunal ordered that nation's biggest airline to get back to the table with unions to reach a deal to end the strikes. More >>
NZ dollar holds gains after rally on European deal
Monday, 31 October 2011, 8:34 am | BusinessDesk
Oct. 31 (BusinessDesk) – The New Zealand dollar is holding near the level it recovered to last week after European leaders struck a deal to shore up the region’s debt, as investors wait for a big week of data and interest rate decisions globally. More >>
