Scoop has an Ethical Paywall
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 1510]
Tourism Holdings posts $27.3M loss on impairment, sales rise
Thursday, 25 August 2011, 11:17 am | BusinessDesk
Aug. 25 (BusinessDesk) – Tourism Holdings Ltd., which was the subject of a failed takeover attempt, posted a full-year loss after writing down goodwill on its rentals business in Australia and New Zealand. Sales rose 7% on the contribution from its ... More >>
Update: Delegat's lifts profit 10% but forecasts sales drop
Thursday, 25 August 2011, 11:12 am | BusinessDesk
Aug. 25 (BusinessDesk) - Winemaker Delegat's Group lifted underlying annual net profit 10% and is forecasting a massive drop in British and European sales for the year ending June 2012 which won't be fully offset by increased sales elsewhere and higher ... More >>
Skellerup profit jumps 69% to record, further gains forecast
Thursday, 25 August 2011, 11:00 am | BusinessDesk
Aug. 25 (BusinessDesk) – Skellerup Holdings Ltd. reported a 69% increase in annual profit to a record $20.2 million, on improved revenue and returns across its range of agricultural and industrial products, and said it sees further gains in the current ... More >>
NZ retail spending rises 0.9% in 2nd-qtr
Thursday, 25 August 2011, 10:51 am | BusinessDesk
Aug. 25 (BusinessDesk) – New Zealand retail spending grew at a faster pace than forecast in the June quarter as households feel more confident to hit the stores. More >>
Delegat’s lifts profit 10% but forecasts sales drop
Thursday, 25 August 2011, 10:18 am | BusinessDesk
Aug. 25 (BusinessDesk) - Winemaker Delegat's Group lifted underlying annual net profit 10% and is forecasting a massive drop in British and European sales for the year ending June 2012 which won't be fully offset by increased sales elsewhere and higher ... More >>
Air NZ posts second-half loss on costs of quakes
Thursday, 25 August 2011, 10:09 am | BusinessDesk
Aug. 25 (BusinessDesk) – Air New Zealand Ltd., the national carrier, posted a second-half loss as earthquakes in Canterbury and Japan disrupted services and led to unprofitable ‘compassionate’ fares for Christchurch residents. More >>
Stocks to watch: AIR, DGL, IFT, NZO, PBD, THL
Thursday, 25 August 2011, 9:47 am | BusinessDesk
Aug. 25 (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 dollar little changed ahead of Jackson Hole meeting
Thursday, 25 August 2011, 8:33 am | BusinessDesk
Aug. 25 (BusinessDesk) - The New Zealand dollar was little changed amid heightened investor nervousness ahead of the central bankers' summit at Jackson Hole on Friday. More >>
MARKET CLOSE: NZ stocks rise on QE3 talk; GFF gains
Wednesday, 24 August 2011, 5:52 pm | BusinessDesk
MARKET CLOSE: NZ stocks join equity rally on QE3 talk; Goodman Fielder leads gainers, Heartland falls More >>
Deep sea industries face new environmental regime
Wednesday, 24 August 2011, 5:33 pm | BusinessDesk
Aug. 24 (BusinessDesk) – Development of resources in New Zealand’s deepwater Exclusive Economic Zone will require environmental assessments from now on and deep sea drilling will have to comply with new safety rules developed after last year’s ... More >>
Infratil’s iSite buys Auckland billboard firm OTW
Wednesday, 24 August 2011, 4:02 pm | BusinessDesk
Aug. 24 (BusinessDesk) – ISite Ltd., the advertising supplier owned by infrastructure investor Infratil Ltd., has bought billboard advertiser OTW Advertising Ltd. More >>
From the Farm: Pork fights back
Wednesday, 24 August 2011, 3:55 pm | BusinessDesk
New Zealand Pork, the national body for the industry, headed to the High Court today to challenge a Ministry of Agriculture rule revision on import health standards that allows imports of raw pork from countries that have Porcine Reproductive & Respiratory ... More >>
Suncorp’s NZ insurers post $271 mln loss on Chch quakes
Wednesday, 24 August 2011, 1:31 pm | BusinessDesk
by Pattrick Smellie Aug. 24 (BusinessDesk) – Australian insurer Suncorp Group’s New Zealand units posted a full-year loss after the cost of the Christchurch earthquakes squeezed premium income and boosted claims. More >>
Tax case decision creates “new playing field” for avoidance
Wednesday, 24 August 2011, 12:49 pm | BusinessDesk
Aug. 24 (BusinessDesk) – Today’s landmark Supreme Court ruling on tax avoidance by two Christchurch surgeons shows there is a “new playing field with regard to the application of tax avoidance rules in New Zealand,” says the chairman of PricewaterhouseCoopers ... More >>
Midday update: Win for the taxman in landmark avoidance case
Wednesday, 24 August 2011, 12:18 pm | BusinessDesk
Aug 24 (BusinessDesk) – Professionals and tradespeople cannot use company structures and family trusts to avoid tax by declaring artificially low salaries, the Supreme Court ruled this morning. The decision hands the Inland Revenue Department the latest ... More >>
TransPacific’s NZ earnings miss guidance after writedown
Wednesday, 24 August 2011, 12:09 pm | BusinessDesk
Aug. 24 (BusinessDesk) – Australian waste manager TransPacific Industries Group missed its own guidance for its New Zealand business and wrote down the value of those assets by A$181.5 million. More >>
Pacific Brands posts A$131.5M loss on charges, weak sales
Wednesday, 24 August 2011, 11:59 am | BusinessDesk
Aug. 24 (BusinessDesk) - Pacific Brands Ltd., the Australian clothing maker which sold its Sleepmaker and Dunlop Foams business to Sleepyhead this year, has reported a full-year loss of A$131.5 million, with its cost savings initiative unable to reverse ... More >>
Supreme Court backs taxman in landmark avoidance case
Wednesday, 24 August 2011, 11:39 am | BusinessDesk
Aug. 24 (BusinessDesk) – The Supreme Court has sided with the taxpayer in its judgement on a landmark tax avoidance case involving two Christchurch surgeons who used company structures and family trusts to artificially lower their salaries to avoid the top ... More >>
Dairy exports drive NZ's first July trade surplus in 20 yrs
Wednesday, 24 August 2011, 10:52 am | BusinessDesk
Aug. 24 (BusinessDesk) – New Zealand reported its first trade surplus for the month of July in two decades as global demand for dairy products stoked the nation’s export receipts. More >>
NZ Oil & Gas posts $75.9M loss on Pike
Wednesday, 24 August 2011, 10:16 am | BusinessDesk
Aug 24 (BusinessDesk) – New Zealand Oil & Gas Ltd. is pressing ahead with drilling exploration wells offshore Taranaki over this summer, despite taking charges of $98.8 million for its investment in the failed Pike River Coal mine and reporting a net ... More >>
