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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 853]
NZ dollar declines against Aussie after touching record high
Monday, 23 February 2015, 8:53 am | BusinessDesk
Feb. 23 (BusinessDesk) - The New Zealand dollar fell from its highs against the Australian dollar, touching a week low, as some investors took advantage of the gains to sell the local currency. More >>
World Week Ahead: Yellen testimony awaited
Monday, 23 February 2015, 7:52 am | BusinessDesk
Feb. 23 (BusinessDesk) - US Federal Reserve chair Janet Yellen takes centre stage this week with her semi-annual testimony to US lawmakers, as investors seek to narrow further the window when the world’s most important central bank will start to lift ... More >>
MARKET CLOSE: NZ shares rise, Xero climbs on tech favour; Au
Friday, 20 February 2015, 5:37 pm | BusinessDesk
Feb. 20 (BusinessDesk) - New Zealand shares rose paced by Xero and Diligent Board Member Services, as investors favoured technology-based stocks. Auckland International Airport slipped after reporting first-half profit growth of 1.3 percent. More >>
NZ dollar heads for 1% weekly gain
Friday, 20 February 2015, 5:05 pm | BusinessDesk
Feb. 20 (BusinessDesk) - The New Zealand dollar is heading for a 1 percent weekly gain against the greenback as recent data and upbeat dairy auctions paint a strong picture of the local economy, and after minutes to the last Federal Reserve policy ... More >>
Stormy Auckland sees Vector breach power service quality
Friday, 20 February 2015, 3:38 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Vector, the Auckland gas and electricity distribution monopoly, is in discussions with the Commerce Commission over a likely breach of its service quality agreement on its network for the second year in a row. More >>
Cavalier first-half earnings plunge 99%
Friday, 20 February 2015, 2:16 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Cavalier Corp, the carpet-maker that cut annual earnings guidance three times last year, reported a 99 percent slump in first-half profit as a strong currency, increased wool prices and low wool grease prices eroded restructuring ... More >>
Vocus boosts NZ sales 81% after FX Networks acquisition
Friday, 20 February 2015, 2:02 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Vocus Communications, which yesterday said it plans to beef up its capacity on the Southern Cross Cable by almost 10 times, boosted its first-half sales in New Zealand by 81 percent after buying local fibre-line provider FX Networks ... More >>
AMP Capital halves its stake in Skellerup
Friday, 20 February 2015, 1:29 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Fund manager AMP Capital Investors (New Zealand) has halved its stake in Skellerup Holdings, while remaining a substantial shareholder of the industrial rubber goods firm. More >>
UPDATE: Auckland Airport lifts full-year guidance
Friday, 20 February 2015, 12:59 pm | BusinessDesk
Feb. 20 (BusinessDesk) - Auckland International Airport, the country's biggest gateway, raised its annual profit guidance after passenger numbers and revenue from retail and property lifted first-half earnings by 1.3 percent. More >>
NZ Refining sees profit bounceback at full year
Friday, 20 February 2015, 10:11 am | BusinessDesk
Feb. 20 (BusinessDesk) - NZ Refining, operator of New Zealand's only oil refinery, turned to an annual profit, from a loss a year earlier, as cost-savings initiatives and improved refining margins combined to overcome what chairman David Jackson said ... More >>
NZ government deficit smaller than expected in first half
Friday, 20 February 2015, 10:05 am | BusinessDesk
Feb. 20 (BusinessDesk) - The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in ... More >>
OceanaGold returns to FY profit, declares dividend
Friday, 20 February 2015, 9:50 am | BusinessDesk
Feb. 20 (BusinessDesk) - OceanaGold Corp, the gold and copper miner, returned to annual profit after its mine in the Philippines mine beat production targets. More >>
Vector first-half profit falls 17% on regulatory impost, mar
Friday, 20 February 2015, 9:50 am | BusinessDesk
Feb. 20 (BusinessDesk) - Vector, the Auckland gas and electricity distribution company, posted a 17 percent drop in first-half profit as a gain in sales was offset by regulated price reductions, mark-to-market losses on derivatives and increased borrowing costs. More >>
Auckland Airport lifts annual profit guidance
Friday, 20 February 2015, 9:21 am | BusinessDesk
Feb. 20 (BusinessDesk) - Auckland International Airport, the country's major gateway, raised its expectations for annual profit after first-half earnings rose 1.3 percent on increased passenger numbers and higher revenue from its retail and property divisions. More >>
GPG's Coats sells EMEA crafts unit for US$10 mln
Friday, 20 February 2015, 8:45 am | BusinessDesk
Feb. 20 (BusinessDesk) - Guinness Peat Group's Coats unit, the UK threadmaker, has agreed to sell its Europe, Middle East, and Asia crafts unit for US$10 million, which has been a drag on earnings over the past year. More >>
NZ dollar hits fresh record vs. A$ as analysts mull parity
Friday, 20 February 2015, 8:43 am | BusinessDesk
Feb. 20 (BusinessDesk) - The New Zealand dollar hit a new record against the Australian dollar overnight, with some analysts saying there is nothing to stop it pushing higher to parity. More >>
Ports of Auckland lifts first-half dividend to $25.5M
Friday, 20 February 2015, 7:55 am | BusinessDesk
Feb. 20 (BusinessDesk) - Ports of Auckland, which settled a four-year dispute with the Maritime Union this week, has increased its interim dividend payment by 22 percent and is extending its wharves in anticipation of bigger ships and increased freight. More >>
While you were sleeping: Wall Street is mixed
Friday, 20 February 2015, 7:46 am | BusinessDesk
Feb. 20 (BusinessDesk) - Wall Street seesawed, pushing the Standard & Poor’s 500 Index to a record earlier in the session amid optimism about a financing deal for Greece before Germany rejected the nation’s request for an extension of loan ... More >>
NZ Super Fund joins action against Portugal's central bank
Thursday, 19 February 2015, 9:33 pm | BusinessDesk
NZ Superannuation Fund joins legal action against Portugal's central bank, writes off loan exposure More >>
ASX-listed Vocus to lift Southern Cross capacity by 10 times
Thursday, 19 February 2015, 6:03 pm | BusinessDesk
Feb. 19 (BusinessDesk) - Vocus Communications, the ASX-listed company that bought New Zealand's FX Networks last year, will spend US$58.5 million to beef up its capacity on the Southern Cross Cable by almost 10 times. More >>
