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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 1506]
From the Farm: Business is booming
Wednesday, 31 August 2011, 3:24 pm | BusinessDesk
The great fear when global commodity prices soar is how quickly they will come down again. More >>
NZ business confidence falls for first time in five months
Wednesday, 31 August 2011, 1:23 pm | BusinessDesk
Aug. 31 (BusinessDesk) – New Zealand business confidence fell for the first time in five months, with firms showing more caution in the face of global financial market turmoil, trimming expectations for exports, profits, pricing and hiring. More >>
NZIER sees longer pause on NZ interest rates, tepid growth
Wednesday, 31 August 2011, 1:00 pm | BusinessDesk
Aug. 31 (BusinessDesk) – The New Zealand Institute of Economic Research sees slow economic growth for the next couple of years and expects the Reserve Bank to keep interest rates low until June next year. More >>
Rakon shares sink 5.8% on prospect softer 2012 earnings
Wednesday, 31 August 2011, 12:33 pm | BusinessDesk
Aug. 31 (BusinessDesk) – Crystal timing devices manufacturer Rakon Ltd.’s shares sank 5.8% after it said annual operating profit could fall as much as 44% for the year ending March 2012 if the New Zealand dollar remains are current levels. More >>
Midday update: Kiwis will pile into asset sales, govt hopes
Wednesday, 31 August 2011, 12:07 pm | BusinessDesk
Midday update: Kiwi investors will pile into art-privatisations, govt reckons Aug 31 (BusinessDesk) – The government is betting on strong local investor appetite for shares in partially privatised state-owned enterprises, as New Zealanders seek ... More >>
Stocks to watch: ARG, GEN, GLL, HNZ, TEL, TLS
Wednesday, 31 August 2011, 9:44 am | BusinessDesk
Aug. 31 (BusinessDesk) – The following stocks may be active on the New Zealand exchange after developments since the close of trading. All prices are in New Zealand dollars unless specified. More >>
NZ asset sell off would cap foreign ownership at 15%
Wednesday, 31 August 2011, 9:37 am | BusinessDesk
NZ asset sell off would see no more than 15% in foreign hands, Govt says More >>
Telecom demerger by end of November, Reynolds flags exit
Wednesday, 31 August 2011, 9:28 am | BusinessDesk
Aug. 31 (BusinessDesk) – Telecom Corp. expects to split its business into separate retail and network entities by the end of November, and will replace chief executive Paul Reynolds in the 2012/13 financial year. More >>
NZ dollar rises as world stocks keep gains amid weak US data
Wednesday, 31 August 2011, 8:37 am | BusinessDesk
Aug. 31 (BusinessDesk) - The New Zealand dollar rose against the greenback as global equities managed to hold onto their gains despite a string of weaker U.S. economic data, suggesting investors' appetite for higher-yielding, or riskier, assets is starting ... More >>
MARKET CLOSE: NZ shares gain on favourable earnings season
Tuesday, 30 August 2011, 5:36 pm | BusinessDesk
Aug. 30 (BusinessDesk) – New Zealand shares gained on a tide of rising global equities as an upbeat earnings season and companies plump with dividends lured investors back to the market. Nuplex Industries Ltd. rose and Telstra Corp. fell on a low-turnover ... More >>
S&P keeps EQC's AAA credit rating despite blow-out
Tuesday, 30 August 2011, 3:46 pm | BusinessDesk
Aug. 30 (BusinessDesk) – Rating agency Standard & Poor’s has reaffirmed the Earthquake Commission’s ‘AAA’ rating after the cost of the Canterbury quakes blew out by $4 billion to $7.1 billion. More >>
Trustees to come under stricter supervision from October
Tuesday, 30 August 2011, 3:41 pm | BusinessDesk
by Paul McBeth Aug. 30 (BusinessDesk) – Trustees will face a new licensing regime and tougher minimum requirements once a new supervision scheme comes into effect in October. Commerce Minister Simon Power today announced the regime for all corporate ... More >>
Midday update – EQC falls short, Budget deficit at $18bn
Tuesday, 30 August 2011, 11:59 am | BusinessDesk
Aug. 30 (BusinessDesk) – New estimates of the total cost of the Canterbury earthquakes show the Earthquake Commission’s $6 billion Natural Disaster Fund is too small to meet all claims, with an extra $1.1 billion of costs to fall on the government. More >>
Heartland NZ taps underwriters for two-thirds of $35 mln SPP
Tuesday, 30 August 2011, 11:31 am | BusinessDesk
Aug. 30 (BusinessDesk) – Heartland New Zealand Ltd., the lender formed in the merger of Marac Finance with the Canterbury and Southern Cross building societies, raised two-thirds of its capital from underwriters and sub-underwriters in its $35 million ... More >>
NZ building consents rise for 3rd month in four in July
Tuesday, 30 August 2011, 11:15 am | BusinessDesk
NZ building consents rise for 3rd month in four in July with 6.3% gain More >>
Disaster funding review on the cards, English says
Tuesday, 30 August 2011, 11:07 am | BusinessDesk
Aug. 30 (BusinessDesk) – Finance Minister Bill English says the government will review the way it funds disaster recovery after latest estimates of the Canterbury quake costs climbed to $7.1 billion. More >>
Deficit blows out to $18bn as EQC kitty falls $1.1bn short
Tuesday, 30 August 2011, 10:38 am | BusinessDesk
by Pattrick Smellie Aug 30 (BusinessDesk) – The Earthquake Commission faces Canterbury earthquake claims of up to $7.1 billion, close to double the $4 billion in claims originally estimated, and $1.1 billion more than its $6 billion Natural Disaster ... More >>
MightyRiverPower earnings up 16% on new geothermal plant
Tuesday, 30 August 2011, 10:18 am | BusinessDesk
Aug. 30 (BusinessDesk) – State-owned electricity generator and retailer MightyRiverPower Ltd. increased underlying earnings 16% to $162.2 million in the year to June 30, thanks primarily to a full year’s operations from the Nga Awa Purua geothermal ... More >>
GuocoLeisure, formerly Brierley, lifts annual profit 61.2%
Tuesday, 30 August 2011, 10:14 am | BusinessDesk
Aug. 30 (BusinessDesk) – GuocoLeisure Ltd., the diversified investment company previously named Brierley Investments, said annual net profit rose 61.2%, mainly due to better performances in both its hotel and gaming operations. More >>
Genesis Research, still awaiting UBNZ capital, posts 1H loss
Tuesday, 30 August 2011, 9:46 am | BusinessDesk
Aug. 30 (BusinessDesk) – Genesis Research & Development Corp., which halted its New Zealand operations last year when it ran out of cash, posted a first-half loss and said it is still awaiting funds from UBNZ Funds Management Ltd. Chief executive ... More >>
