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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 1559]
Jean Jones finally escapes Rockforte
Friday, 20 May 2011, 1:01 pm | BusinessDesk
May 20 (BusinessDesk) – A husband and wife investment team from Auckland have bought the Jean Jones chain of clothing stores from its receivers, Deloitte. More >>
Kiwibank faces haircut on Don Ha guarantee
Friday, 20 May 2011, 12:34 pm | BusinessDesk
May 20 (BusinessDesk) – Government-owned lender Kiwibank Ltd. faces a haircut on some $7.1 million owed by high-profile Auckland realtor Don Ha and associated entities. More >>
ASB chair Judd retires, Gavin Walker tapped as replacement
Friday, 20 May 2011, 11:30 am | BusinessDesk
May 20 (BusinessDesk) - ASB Bank, the local unit of Commonwealth Bank of Australia, has announced long-serving chairman Gary Judd will retire on Aug. 2, with board member Gavin Walker set to replace him. More >>
Late Easter holiday brings Aussies back across the ditch
Friday, 20 May 2011, 11:24 am | BusinessDesk
May 20 (BusinessDesk) – A later-than-usual Easter holiday bumped up visitor numbers last month, and brought back the Australian tourists missing from the March statistics. More >>
Pacific Fibre to supply local research, education network
Friday, 20 May 2011, 10:54 am | BusinessDesk
May 20 (BusinessDesk) – Pacific Fibre Ltd., the local start-up looking to build a second internet cable linking New Zealand to the world, has secured its first customer and will supply broadband capacity to the nation’s research and education network. More >>
Stocks to watch: ARG, IFT, POT, SKC, TEL, XRO
Friday, 20 May 2011, 9:39 am | BusinessDesk
May 19 (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 >>
Xero narrows loss on surging revenue
Friday, 20 May 2011, 9:29 am | BusinessDesk
May 20 (BusinessDesk) – Xero Ltd., the cloud-based accounting platform provider, narrowed its loss in the year, as it trans-Tasman units underpinned a surge in sales. More >>
NZ dollar slips as budget momentum fades, commodities fall
Friday, 20 May 2011, 8:23 am | BusinessDesk
May 20 (BusinessDesk) - The New Zealand dollar fell against the greenback, with the currency unable to sustain its post-budget momentum in the face of declining commodity prices. More >>
While you were sleeping: LinkedIn soars as economy splutters
Friday, 20 May 2011, 7:46 am | BusinessDesk
(BusinessDesk) May 20 - A soaring debut by LinkedIn Corp contrasted with a drop in semiconductor stocks including Intel Corp as data on U.S. home sales and manufacturing fell short of expectations, underpinning recent evidence of the weakness of the economic ... More >>
MARKET CLOSE: NZ stocks rise; Argosy, Ryman pace gainers
Thursday, 19 May 2011, 6:03 pm | BusinessDesk
May 19 (BusinessDesk) - New Zealand stocks rose to a near a three-year high, after the government delivered a budget that shows a shorter route back to surpluses and a revival in the economy. Argosy Property Trust and Ryman Healthcare Ltd. paced gainers, ... More >>
KiwiSaver cuts may erode business profits, drag on wages
Thursday, 19 May 2011, 5:45 pm | BusinessDesk
May 19 (BusinessDesk) – Employers may face dwindling profits and workers lower wages as a result of the changes to KiwiSaver, according to government officials. More >>
Fitch leaves NZ credit rating outlook at negative
Thursday, 19 May 2011, 5:39 pm | BusinessDesk
May 19 (BusinessDesk) - New Zealand's AA+ credit rating was kept on negative outlook by Fitch Ratings, which said the nation's high levels of external debt are still a concern. More >>
Budget 2011: Fiscal drag is coming back
Thursday, 19 May 2011, 4:33 pm | BusinessDesk
May 19 (BusinessDesk) – After several years without it, thanks to personal tax cuts, the tax collector’s best friend and taxpayer’s bogey – fiscal drag – is set to re-emerge in the next couple of years, the Budget says. More >>
Budget 2011: Growth to peak at 4% on Christchurch rebuild
Thursday, 19 May 2011, 4:12 pm | BusinessDesk
May 19 (BusinessDesk) – Inflation-adjusted economic growth will peak at 4% in 2013 before dropping back to 2.7% in 2015 as the short term boost from rebuilding Christchurch recedes, say updated economic forecasts published in the Budget. More >>
Powerco taps U.S. market to refinance bank debt
Thursday, 19 May 2011, 3:29 pm | BusinessDesk
May 19 (BusinessDesk) – Powerco Ltd., the country’s second-biggest electricity utility, is tapping institutional investors in the U.S. to refinance bank debt. More >>
Budget 2011: NZ bonds, dollar gain as surpluses loom
Thursday, 19 May 2011, 3:22 pm | BusinessDesk
May 19 (BusinessDesk) - New Zealand government bonds rose and the kiwi dollar gained after Finance Minister Bill English released his Budget, showing reduced issuance of new debt and a quicker return to surpluses. More >>
Budget 2011: S&P keeps NZ sovereign credit unchanged
Thursday, 19 May 2011, 2:29 pm | BusinessDesk
May 19 (BusinessDesk) – Rating agency Standard & Poor’s has kept New Zealand’s sovereign credit rating at AA+ in response to Finance Minister Bill English’s budget, with the outlook still negative. More >>
IRD looks at tighter tax rules on livestock values, assets
Thursday, 19 May 2011, 2:08 pm | BusinessDesk
May 19 (BusinessDesk) – The Inland Revenue Department is set to continue tightening the tax system, with the treatment of livestock valuations, multi-use assets and income definitions. More >>
Meridian Energy offers biggest gain in $7 bln govt sell-down
Thursday, 19 May 2011, 2:06 pm | BusinessDesk
May 19 (BusinessDesk) – State-owned electricity generator Meridian Energy Ltd. offers the biggest return to the government in the proposed partial sale of energy assets. More >>
NZ govt reins in borrowing after $20 bln splurge
Thursday, 19 May 2011, 2:04 pm | BusinessDesk
May 19 (BusinessDesk) – Weekly government borrowing will drop from around $380 million a week at present to $100 million a week in the year ahead, says Finance Minister Bill English in the Budget. More >>
