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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 1641]
Telecom focuses on cost cuts as UFB looms
Friday, 5 November 2010, 2:28 pm | BusinessDesk
Nov. 5 (BusinessDesk) – Telecom Corp., the country’s biggest phone company, kept cutting costs in the first quarter, keeping earnings flat as a decision looms on how the government plans to carve up its fund for ultra-fast broadband. More >>
TransPacific unit settles in price-fixing case
Friday, 5 November 2010, 1:14 pm | BusinessDesk
Nov. 5 (BusinessDesk) – ERS New Zealand Ltd., New Zealand’s largest provider of waste oil services and a unit of TransPacific Industries Group, has paid a “significant sum” in a settlement to head off a price-fixing prosecution. More >>
Briscoe lifts 3rd-qtr sales; trading still patchy
Friday, 5 November 2010, 10:28 am | BusinessDesk
Nov. 5 (BusinessDesk) - Briscoe Group's third-quarter sales rebounded strongly after a weak second quarter but the company says performance is still patchy. More >>
Stocks to watch: BGR, BFW, MCK, TEL, WTL
Friday, 5 November 2010, 9:44 am | BusinessDesk
Nov. 5 (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 edges close to 80 U.S. cents mark
Friday, 5 November 2010, 9:42 am | BusinessDesk
NZ dollar edges close to 80 U.S. cents mark; bolstered by weak greenback, positive jobs data More >>
Telecom lifts 1Q underlying profit on cost control
Friday, 5 November 2010, 9:38 am | BusinessDesk
Nov. 5 (BusinessDesk) – Telecom Corp., the country’s second-biggest listed company, lifted first-quarter underlying earnings as it continued to clamp-down on costs amid an ongoing decline in fixed-line revenue. More >>
TrustPower profit drops as SOEs grab customers
Thursday, 4 November 2010, 7:26 pm | BusinessDesk
Nov. 4 (BusinessDesk) – TrustPower Ltd., the power company controlled by Infratil Ltd., posted a 28% drop in first-half profit and said earnings growth would stall in the full year as state-owned rivals increase efforts to win customers. More >>
TrustPower 1H profit drops as SOEs grab customers
Thursday, 4 November 2010, 6:10 pm | BusinessDesk
Nov. 4 (BusinessDesk) – TrustPower Ltd., the power company controlled by Infratil Ltd., posted a 28% drop in first-half profit and said earnings growth would stall in the full year as state-owned rivals increase efforts to win customers. More >>
TrustPower 1H profit drops as SOEs grab customers
Thursday, 4 November 2010, 6:10 pm | BusinessDesk
Nov. 4 (BusinessDesk) – TrustPower Ltd., the power company controlled by Infratil Ltd., posted a 28% drop in first-half profit and said earnings growth would stall in the full year as state-owned rivals increase efforts to win customers. More >>
Fletcher wins rebuild contract in American Samoa
Thursday, 4 November 2010, 3:18 pm | BusinessDesk
Nov. 4 (BusinessDesk) – Fletcher Building Ltd., the country’s biggest listed company, won a contract from the U.S. government to help rebuild American Samoa after last year’s earthquake and tsunami. More >>
Smiths City 2Q sales tumble 11.5%
Thursday, 4 November 2010, 1:08 pm | BusinessDesk
Nov. 4 (BusinessDesk) – Smiths City Group, which owns home appliances retailer L.V. Martin & Son, said its second-quarter sales sank 11.5% as the Canterbury earthquake and Southland snowstorms disrupted trading. More >>
Commercial Taranaki oil and gas find for TAG
Thursday, 4 November 2010, 1:05 pm | BusinessDesk
Nov. 4 (BusinessDesk) – Canadian oil and gasfield developer TAG Oil Ltd. is moving to commercialise an oil and gas find in the Mt Messenger formation, and is targeting look-alike formations nearby. More >>
NZ jobless rate falls to 6.4%; kiwi dollar surges
Thursday, 4 November 2010, 11:28 am | BusinessDesk
Nov. 4 (BusinessDesk) – New Zealand’s unemployment rate fell more than expected in the third quarter as the economy flickers into life after the recovery stalled earlier this year. The kiwi dollar jumped after the report. More >>
Stocks to watch: NZO, NPX, OGC, POT, VHP, WBC
Thursday, 4 November 2010, 9:47 am | BusinessDesk
Nov. 4 (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 climbs to 29-month high on Fed plan
Thursday, 4 November 2010, 9:40 am | BusinessDesk
Nov. 4 (BusinessDesk) – The New Zealand dollar climbed to a fresh 29-month high after the Federal Reserve embarked on its second round of quantitative easing, and will print US$600 billion in a bid to resuscitate the U.S. economy. More >>
Westfield spins off retail trust for JV in malls
Wednesday, 3 November 2010, 5:46 pm | BusinessDesk
Nov. 3 (BusinessDesk) – Westfield Group, the world’s biggest owner of shopping malls, will create a new retail trust that will raise A$3.5 billion and own a half stake in its centres in Australia and New Zealand. More >>
Westpac targets SME, agricultural lending in NZ
Wednesday, 3 November 2010, 5:33 pm | BusinessDesk
Nov. 3 (BusinessDesk) – Westpac Banking Corp. is looking to lift its profile among small and medium-sized businesses and the agricultural sector as it looks to boost its commercial book in New Zealand. More >>
Low-growth policies will spur Kiwi exodus to Aust
Wednesday, 3 November 2010, 3:01 pm | BusinessDesk
Nov. 3 (BusinessDesk) – New Zealand risks losing up to 10% of its current population to Australia in the next 15 years, unless bold action is taken sooner rather than later to arrest the country’s decline, relative to its trans-Tasman rival, says ... More >>
Auckland house sales fall to 20-month low
Wednesday, 3 November 2010, 12:04 pm | BusinessDesk
Nov. 3 (BusinessDesk) – Monthly home sales in New Zealand’s biggest city have fallen to their lowest level in 20 months as the lingering effects of the stalled economic recovery continue to weigh on households. More >>
Nuplex forecasts record 2011 profit
Wednesday, 3 November 2010, 12:02 pm | BusinessDesk
Nov. 3 (BusinessDesk) – Nuplex Industries Ltd. said profit in 2011 will rise as much as 17% to a record provided the Australian and New Zealand dollars don’t appreciate much further and margins hold. More >>
