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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 1508]
NZ dollar gains as equities bounce on Bernanke comments
Monday, 29 August 2011, 8:22 am | BusinessDesk
Aug. 29 (BusinessDesk) - The New Zealand dollar rose against the greenback, tracking global equity markets higher as investors took solace from Federal Reserve Chairman Ben Bernanke's comments at Jackson Hole that the U.S. isn’t in bad enough shape ... More >>
World Week Ahead: Perception sets the agenda
Monday, 29 August 2011, 7:00 am | BusinessDesk
Aug. 29 (BusinessDesk) - It’s a case of what has been implied, reading between the lines and hearing what one wants. In other words, bet on equities to rally this week for no real particular reason. More >>
ACT coy on mystery No. 3 candidate on party list
Sunday, 28 August 2011, 3:40 pm | BusinessDesk
by Pattrick Smellie Aug 28 (BusinessDesk) – The ACT Party has released its new party list with the covetable Number Three spot unfilled, while an unnamed big noter candidate confirms their availability. More >>
Bathurst wins consents for Escarpment mine above Westport
Friday, 26 August 2011, 6:15 pm | BusinessDesk
Aug 26 (BusinessDesk) – Buller Coal Project developer Bathurst Resources Ltd has gained crucial resource consents that should allow its ambitious open-cast mining plans on the hills above Westport to meet a first production deadline of late this ... More >>
MARKET CLOSE: NZ stocks fall before Jackson Hole summit
Friday, 26 August 2011, 5:59 pm | BusinessDesk
Aug. 26 (BusinessDesk) - New Zealand stocks fell, as investors trimmed their expectations that Federal Reserve Chairman Ben Bernanke would signal a further round of asset purchases when he addresses the central bankers' summit at Jackson Hole later tonight. ... More >>
High Court OKs Commerce Commission on air cargo cartel case
Friday, 26 August 2011, 5:26 pm | BusinessDesk
Aug. 26 (BusinessDesk) – The High Court has given the Commerce Commission leave to pursue its air cargo cartel case against airlines and freight forwarders after agreeing there was a local market for the services. More >>
Ebos lifts annual profit 38% on asset sale, small sales lift
Friday, 26 August 2011, 4:45 pm | BusinessDesk
Aug. 26 (BusinessDesk) - Pharmaceuticals and medical supplies distributor Ebos Ltd. lifted annual net profit 38% reflecting the sale of its scientific operations, operational improvements and a small sales increase. More >>
Argosy’s biggest holder, MFL, backs internalisation plan
Friday, 26 August 2011, 3:54 pm | BusinessDesk
Aug. 26 (BusinessDesk) – MFL Mutual Fund Ltd., the biggest unit-holder of Argosy Property Trust with a 22% stake, will support a proposal to internalise the management contract at the annual meeting on Aug. 30. More >>
New Image annual profit falls 68%, no final dividend
Friday, 26 August 2011, 3:37 pm | BusinessDesk
Aug. 26 (BusinessDesk) - Health supplements company New Image Ltd. said annual net profit fell 68% to $2.3 million as costs associated with developing new markets and impairment charges impacted on its bottom line. More >>
Carter Holt asset sale fails, seeks financing, Reuters says
Friday, 26 August 2011, 3:31 pm | BusinessDesk
Aug. 26 (BusinessDesk) – Carter Holt Harvey Ltd.’s bid to sell its pulp, paper and packaging assets has fallen over and billionaire owner Graeme Hart is looking for $1.45 billion to refinance the business, Reuters reported. More >>
MONEY TALKS: Affordable housing? Cut the building costs then
Friday, 26 August 2011, 3:31 pm | BusinessDesk
Aug. 26 (BusinessDesk) - The way to make houses more affordable is simple – lower building costs and lower land costs. More >>
Update: Sky TV lifts annual net profit 16.8%
Friday, 26 August 2011, 1:28 pm | BusinessDesk
Aug. 26 (BusinessDesk) - Sky Network Television said annual net profit rose 16.8% as subscriber numbers grew to a record and more switched to MySky. More >>
TVNZ nearly triples dividend on return to profit
Friday, 26 August 2011, 12:27 pm | BusinessDesk
Aug. 26 (BusinessDesk) – State-owned broadcaster Television New Zealand Ltd. will pay a dividend to the government of $13.8 million, nearly 6.5 times net earnings for the latest financial year, and nearly trebling last year's payout. More >>
Midday update: Fairfax in 35% TradeMe IPO
Friday, 26 August 2011, 12:09 pm | BusinessDesk
Aug 26 (BusinessDesk) – Struggling Australasian publisher Fairfax Media Ltd. is to offer up to 35% of the jewel in its crown, the Trade Me auction site, in a public float on the New Zealand bourse, the NZX, which may be extended to an ASX listing. ... More >>
Wellington Drive posts wider loss as costs surge
Friday, 26 August 2011, 12:07 pm | BusinessDesk
Aug. 26 (BusinessDesk) - Wellington Drive Technologies, the maker of energy efficient refrigeration motors, reported a first-half loss as cost of sales and the restructuring of its ventilation unit offset a gain in revenue. More >>
Fairfax Media posts A$401M loss after writing down mastheads
Friday, 26 August 2011, 11:22 am | BusinessDesk
Fairfax Media posts A$401M loss after writing down mastheads, sees no pick-up soon More >>
Fairfax to sell up to 35% of Trade Me in New Zealand float
Friday, 26 August 2011, 10:57 am | BusinessDesk
Fairfax to sell up to 35% of Trade Me in New Zealand float; Kirk brought back More >>
Vector lifts profit on Transpower agreement, tax gain
Friday, 26 August 2011, 10:43 am | BusinessDesk
Aug. 26 (BusinessDesk) – Lines company Vector Ltd. lifted annual profit 4.1% as it booked gains from a deal with Transpower New Zealand Ltd. and a tax accounting benefit. More >>
Sky TV lifts annual net profit 16.8%
Friday, 26 August 2011, 10:35 am | BusinessDesk
Aug. 26 (BusinessDesk) -Sky Network Television Ltd. said annual net profit rose 16.8% as subscriber numbers grew to a record and more switched to MySky. More >>
NZ Post reports $35.6 mln loss on quakes, write downs
Friday, 26 August 2011, 10:28 am | BusinessDesk
Aug. 26 (BusinessDesk) - New Zealand Post Group posted a full-year net loss of $35.6 million as its balance sheet bore the brunt of a $29.1 million hit related to the Christchurch earthquakes, the exit from Australian assets, increased bad debt provisioning, ... More >>
