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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 865]
While you were sleeping: Apple, Boeing soar
Thursday, 29 January 2015, 7:46 am | BusinessDesk
Jan. 29 (BusinessDesk) - Wall Street gained, led by Boeing and Apple, as both companies reported earnings that surpassed expectations. More >>
NZ Super Fund returns 13.89% in 2014, warns that may wane
Wednesday, 28 January 2015, 6:00 pm | BusinessDesk
Jan. 28 (BusinessDesk) - The New Zealand Superannuation Fund, the sovereign wealth fund set up to help smooth the cost of universal superannuation between today’s taxpayers and future generations, returned 13.89 percent over 2014, ending the year ... More >>
MARKET CLOSE: NZ shares rise; Heartland gains on profit lift
Wednesday, 28 January 2015, 5:36 pm | BusinessDesk
Jan. 28 (BusinessDesk) - New Zealand shares rose to a new record, led by Heartland New Zealand after the bank said it expected to post bigger earnings this year as it grows its asset base. Stocks with stable dividends also gained, including Spark ... More >>
NZ dollar drops vs. Australian dollar after inflation data
Wednesday, 28 January 2015, 5:04 pm | BusinessDesk
Jan. 28 (BusinessDesk) - The New Zealand dollar dropped against the Australian dollar after unexpectedly strong inflation data across the Tasman prompted traders to wind back bets that nation's central bank could cut interest rates. More >>
Spark director Maury Leyland to resign next month
Wednesday, 28 January 2015, 4:07 pm | BusinessDesk
Jan. 28 (BusinessDesk) - Spark New Zealand director Maury Leyland will resign from the telecommunications company's board from the end of next month as she spends more time at her day-job as Fonterra Cooperative Group's head of people, culture and strategy. More >>
NZ govt to spend $650M on school upgrades, repairs in 2015
Wednesday, 28 January 2015, 4:04 pm | BusinessDesk
Jan. 28 (BusinessDesk) - The New Zealand government expects to spend $650 million this year upgrading and maintaining its $8.32 billion school property portfolio, and anticipates repair costs for leaky buildings largely damaged by faulty cladding ... More >>
UPDATE: FMA, NZX sign MOU for market oversight
Wednesday, 28 January 2015, 3:21 pm | BusinessDesk
Jan. 28 (BusinessDesk) - The Financial Markets Authority and NZX, the two regulators of New Zealand’s capital markets, have signed a memorandum of understanding that formalises how they work together to avoid duplication and ensures a “no surprises” ... More >>
FMA, NZX sign MOU for market oversight, public statements
Wednesday, 28 January 2015, 2:02 pm | BusinessDesk
Jan. 28 (BusinessDesk) - The Financial Markets Authority and NZX, the two regulators of New Zealand’s capital markets, have signed a memorandum of understanding that sets out how they will work together, including what is said in public. More >>
NZ to begin selldown of state housing, expand subsidies: Key
Wednesday, 28 January 2015, 1:18 pm | BusinessDesk
Jan. 28 (BusinessDesk) - The New Zealand government plans to increase the number of income-related rent subsidies by 4.8 percent over the next three years, boost the number of tenancy reviews by two-thirds and sell up to 2,000 houses as part of ... More >>
Auckland Council hires PwC's Suzanne Tindal as CFO
Wednesday, 28 January 2015, 1:08 pm | BusinessDesk
Jan. 28 (BusinessDesk) - Auckland Council, which has assets of almost $40 billion and annual revenue of $3.3 billion, named Suzanne Tindal as chief financial officer following the departure to Fletcher Building last year of Andrew McKenzie. More >>
Cisco NZ sales creep up in 2014
Wednesday, 28 January 2015, 11:54 am | BusinessDesk
Jan. 28 (BusinessDesk) - Cisco Systems New Zealand, the local unit of the global internet network group, lifted annual sales 4.3 percent in 2014, and expects to be well placed in the current year as an increasing number of firms demand greater services ... More >>
UPDATE: Heartland shares jump to record on earnings upgrade
Wednesday, 28 January 2015, 11:46 am | BusinessDesk
Jan. 28 (BusinessDesk) - Heartland New Zealand shares jumped to a record after the bank formed from the merger of Marac Finance and the Southern Cross and Canterbury building societies said first-half profit would rise as much as 44 percent, reflecting ... More >>
FMA eyes VMob disclosures on share placement, global deal
Wednesday, 28 January 2015, 10:34 am | BusinessDesk
Jan. 28 (BusinessDesk) - The Financial Markets Authority is looking into disclosures this week by NZAX-listed VMob Group relating to a $2.17 million private share placement announced shortly after a global deal with fast food chain McDonald’s. More >>
Labour's Little promises to back NZ small business
Wednesday, 28 January 2015, 9:03 am | BusinessDesk
Jan. 28 (BusinessDesk) - Labour Party leader Andrew Little is targeting small business owners as a key plank in dragging down New Zealand's unemployment rate to the lowest in the developed world in his first major speech as the leader of the Opposition. More >>
Heartland raises 2015 profit forecast on asset growth
Wednesday, 28 January 2015, 8:58 am | BusinessDesk
Jan. 28 (BusinessDesk) - Heartland New Zealand, the bank formed from the merger of Marac Finance with Southern Cross and Canterbury building societies, raised its 2015 profit forecast on better-than-expected asset growth. More >>
NZ dollar rises after weak US data ahead of Fed
Wednesday, 28 January 2015, 8:33 am | BusinessDesk
Jan. 28 (BusinessDesk) - The New Zealand dollar rose after weaker US data raised concerns the Federal Reserve may push out plans to raise interest rates this year. More >>
While you were sleeping: Microsoft, Caterpillar slump
Wednesday, 28 January 2015, 7:40 am | BusinessDesk
Jan. 28 (BusinessDesk) - Equities on both sides of the Atlantic slumped as disappointing corporate results including from Microsoft, Caterpillar and Siemens stoked concern about equity valuations and the impact of slow global economic growth. More >>
TPP talks could be wrapped up in first-half 2015, Key says
Tuesday, 27 January 2015, 6:41 pm | BusinessDesk
Jan. 27 (BusinessDesk) - Prime Minister John Key says the Trans-Pacific Partnership negotiations could be wrapped up in the next six months and put in front of the various parliaments of the 12 nations spanning the Asia Pacific. More >>
Key to outline social housing strategy in first 2015 speech
Tuesday, 27 January 2015, 6:09 pm | BusinessDesk
Jan. 27 (BusinessDesk) - New Zealand Prime Minister John Key will tomorrow outline his government's plans to overhaul social housing, including the sale of government-owned stock and bringing in community and iwi organisations to expand the number of homes ... More >>
MARKET CLOSE: NZX 50 rises to record again
Tuesday, 27 January 2015, 6:07 pm | BusinessDesk
Jan. 27 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index to a record, as low interest rates spurred investors to seek out companies paying reliable dividends such as Meridian Energy. Fisher & Paykel Healthcare gained after the kiwi dollar ... More >>
