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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 1475]
NZ dollar surges on Greek deal, OCR review
Thursday, 27 October 2011, 5:14 pm | BusinessDesk
Oct. 27 (BusinessDesk) – The New Zealand dollar surged as much as one US cent in local trading after getting a leg up from the Reserve Bank’s apparent bias towards tighter monetary policy and European leaders convincing Greek bondholders to accept ... More >>
Woolworths NZ boosts 1Q supermarket sales; Dick Smith's drop
Thursday, 27 October 2011, 4:37 pm | BusinessDesk
Oct. 27 (BusinessDesk) – Australian retailer Woolworths boosted sales at its New Zealand supermarkets in the first quarter as it opened one new store and reopened another damaged in the Christchurch earthquake. More >>
COMMENT: Labour seeks moral high ground with pension policy
Thursday, 27 October 2011, 4:15 pm | BusinessDesk
Oct. 27 (BusinessDesk) – Labour leader Phil Goff is to be congratulated for breaking the dam on the increasingly untenable notion that 65 would forever remain the age of entitlement for the state pension. More >>
Labour plumps for compulsory super, retirement at 67
Thursday, 27 October 2011, 3:33 pm | BusinessDesk
Oct. 27 (BusinessDesk) – A Labour-led government would raise the age of pension entitlement to 67 and introduce compulsory KiwiSaver superannuation savings, the party’s leader, Phil Goff, announced today in the first major policy release of ... More >>
Auckland Airport affirms earnings growth for 2012
Thursday, 27 October 2011, 3:20 pm | BusinessDesk
Oct. 27 (BusinessDesk) – Auckland International Airport, the nation’s busiest gateway, affirmed its forecast for 2012 earnings growth of at least 7.5 percent, on rising passenger volumes and bigger returns from its retailing operations. More >>
Summerset reaches $123.6M target in largest NZ IPO in 2 yrs
Thursday, 27 October 2011, 3:05 pm | BusinessDesk
Oct. 27 (BusinessDesk) – Summerset Group, the retirement village operator controlled by Quadrant Private Equity, raised the $123.6 million targeted in the largest New Zealand initial public offering in two years. More >>
Distressed asset unit to manage failed finance company loans
Thursday, 27 October 2011, 3:00 pm | BusinessDesk
Oct. 27 (BusinessDesk) – The government will set up a company to manage the distressed assets in the failed finance companies that called on the Crown’s retail deposit guarantee. More >>
BNZ grabs bigger stake in agribusiness, boosts earnings
Thursday, 27 October 2011, 12:34 pm | BusinessDesk
Oct. 27 (BusinessDesk) – Bank of New Zealand, the local unit of National Australia Bank, snatched a bigger share of the country’s agricultural customers in a year where it lifted cash earnings 17 percent. More >>
Dominion Finance four appear in court
Thursday, 27 October 2011, 12:09 pm | BusinessDesk
Oct. 27 (BusinessDesk) - Four people associated with collapsed Dominion Finance Group and North South Finance appeared in Auckland District Court today, with one subject to a non-publication order, the Serious Fraud Office said. More >>
Midday update: Kiwi climbs on Bollard OCR signal
Thursday, 27 October 2011, 11:51 am | BusinessDesk
Oct. 27 (BusinessDesk) – The New Zealand dollar gained ground against its US counterpart this morning after Reserve Bank Governor Alan Bollard unexpectedly kept firm his view that the Official Cash Rate is still likely to rise in the first quarter of ... More >>
Supreme Court dismisses appeal by Taito Phillip Field
Thursday, 27 October 2011, 11:43 am | BusinessDesk
Oct. 27 (BusinessDesk) - The Supreme Court has unanimously dismissed an appeal by former Labour Party MP Taito Phillip Field. More >>
NZ monthly trade gap grows more than expected on oil imports
Thursday, 27 October 2011, 11:33 am | BusinessDesk
Oct. 27 (BusinessDesk) – New Zealand’s trade deficit widened more than expected last month, led by a surge in crude oil and petroleum products, helping narrow the annual surplus, government figures show. More >>
Bank of NZ annual earnings jump 17% as margins widen
Thursday, 27 October 2011, 10:59 am | BusinessDesk
Oct. 27 (BusinessDesk) – Bank of New Zealand, the local unit of National Australia Bank, boosted annual cash earnings by 17 percent on the back of fatter interest margins from floating mortgages and fewer bad debts. More >>
Freightways reports strong first quarter, seeks fee hike
Thursday, 27 October 2011, 10:39 am | BusinessDesk
Oct. 27 (BusinessDesk) - Freightways has reported a record first-quarter profit to shareholders at its annual meeting today who are being asked to increase directors' fees. More >>
UPDATED: NZ dollar, swap rates rise as Bollard less gloomy
Thursday, 27 October 2011, 10:20 am | BusinessDesk
Oct. 27 (BusinessDesk) – The New Zealand dollar and swap rates climbed after Reserve Bank Governor Alan Bollard kept intact expectations for a hike to the benchmark interest rate in the first quarter, even in the face of global economic uncertainty. More >>
From the Farm: Risk management
Thursday, 27 October 2011, 9:40 am | BusinessDesk
Vector, the technical operator of the Maui gas pipeline that sprung a leak north of New Plymouth, has barely budged in the past two days on the NZX 50 Index. More >>
NZ dollar gains as OCR statement less gloomy than feared
Thursday, 27 October 2011, 9:20 am | BusinessDesk
Oct. 27 (BusinessDesk) – The New Zealand dollar rose after the Reserve Bank left the official cash rate unchanged at 2.5 percent on relief that the central bank did not paint a bleaker picture of the economy. More >>
Bollard holds OCR at 2.5% as global risks hang over economy
Thursday, 27 October 2011, 9:05 am | BusinessDesk
Oct. 27 (BusinessDesk) – Reserve Bank Governor Alan Bollard held the official cash rate at 2.5 percent, as expected, saying Europe’s sovereign debt crisis and the weakness in global financial markets continue to threaten the local recovery. More >>
Goodman Fielder retail offer comes up short
Thursday, 27 October 2011, 8:52 am | BusinessDesk
Oct. 27 (BusinessDesk) - Goodman Fielder Ltd, the food company once owned by New Zealand billionaire Graeme Hart, has come up short in the retail component of a A$259 million capital raising. More >>
New Zealand dollar little changed ahead of OCR review
Thursday, 27 October 2011, 8:25 am | BusinessDesk
Oct. 27 (BusinessDesk) – The New Zealand dollar was little changed from yesterday's close ahead of the Reserve Bank's review of interest rates at 9am today after gains in offshore trading were erased. More >>
