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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 919]
MARKET CLOSE: NZ shares rise as yield hunters return
Friday, 17 October 2014, 5:44 pm | BusinessDesk
Oct. 17 (BusinessDesk) - New Zealand shares rose, paced by Genesis Energy and Vector as investors hunted yield. SkyCity Entertainment Group led the benchmark higher, buoyed by a strong first quarter. More >>
NZ dollar heads for 1.5% weekly gain
Friday, 17 October 2014, 5:10 pm | BusinessDesk
Oct. 17 (BusinessDesk) - The New Zealand dollar is heading for a 1.5 percent weekly gain against the greenback as investors pare back their bets on an early rate hike by the Federal Reserve after some weak US data earlier this week and conflicting ... More >>
SFO won't comment on why Whitehead not used in SCF trial
Friday, 17 October 2014, 5:07 pm | BusinessDesk
SFO won't comment on why Treasury witness not used in South Canterbury Finance trial More >>
Visiting Harvard Prof Bloom urges NZ to raise retirement age
Friday, 17 October 2014, 2:46 pm | BusinessDesk
Oct. 17 (BusinessDesk) - New Zealand needs to lift its retirement age and take advantage of an adaptable workforce before it gets too late, according to a visiting Harvard University professor. More >>
SkyCity wins bigger share of high rollers but wants more
Friday, 17 October 2014, 2:07 pm | BusinessDesk
Oct. 17 (BusinessDesk) - SkyCity Entertainment Group wants to boost its share of the Australasian market for high-rollers from the current 5 to 8 percent to 15 percent, primarily through the redevelopment of its Adelaide Casino and stronger marketing ... More >>
Reserve Bank widens TWI currency basket
Friday, 17 October 2014, 12:06 pm | BusinessDesk
Oct. 17 (BusinessDesk) - The Reserve Bank of New Zealand will broaden the currency basket it uses to calculate the value of the local dollar, to better reflect the nation's trading relationships. More >>
Houghton-led Feltex shareholders appeal High Court ruling
Friday, 17 October 2014, 11:06 am | BusinessDesk
Oct. 17 (BusinessDesk) - Shareholders in the failed Feltex Carpets, led by Eric Houghton, have appealed the High Court decision which found the directors were not liable for alleged disclosure failings in the 2004 prospectus. More >>
Council-owned Infracon sold to Higgins Group
Friday, 17 October 2014, 9:29 am | BusinessDesk
Oct. 17 (BusinessDesk) - Infracon, the civil construction firm owned by the Tararua and Central Hawkes Bay district councils, has been sold to local civil engineering company Higgins Group out of liquidation for an undisclosed sum. More >>
NZ dollar drops in volatile markets amid Fed uncertainty
Friday, 17 October 2014, 8:45 am | BusinessDesk
Oct. 17 (BusinessDesk) - The New Zealand dollar weakened in volatile trading amid investor uncertainty about the policy direction of the US Federal Reserve. More >>
While you were sleeping: Bullard lifts Wall Street
Friday, 17 October 2014, 7:44 am | BusinessDesk
Oct. 17 (BusinessDesk) - Wall Street gained, rebounding from earlier declines, after St. Louis Federal Reserve Bank President James Bullard said the US central bank should consider delaying the end of its bond-buying program given a decline in inflation ... More >>
MARKET CLOSE: NZ shares fall in global sell-off
Thursday, 16 October 2014, 5:37 pm | BusinessDesk
Oct. 16 (BusinessDesk) - New Zealand shares fell, led by Xero, joining a worldwide sell-off as investors fretted over stalling global growth. Fletcher Building, Kathmandu Holdings declined as the local currency gained against its Australian counterpart. More >>
Exit goal alignment crucial in angel investing, expert says
Thursday, 16 October 2014, 5:28 pm | BusinessDesk
Oct. 16 (BusinessDesk) - Acronyms abound in the business world – think GFC, Ebitda, Opex, Libor, OCR. Now visiting American angel investor John Huston has added a new one - EGC. It stands for exit goal congruence and means the investor’s desire to ... More >>
NZ dollar gains as weak US data trims bets on Fed rate hikes
Thursday, 16 October 2014, 5:09 pm | BusinessDesk
Oct. 16 (BusinessDesk) - The New Zealand dollar gained as weaker than expected US economic data caused traders to trim their bets on how early the US Federal Reserve will start hiking interest rates. More >>
New Zealand export log prices lift in October on weaker kiwi
Thursday, 16 October 2014, 4:19 pm | BusinessDesk
Oct. 16 (BusinessDesk) - New Zealand export log prices lifted for the third month, as a weaker kiwi boosted local currency returns. More >>
Fletcher to close its Christchurch insulation plant, 29 jobs
Thursday, 16 October 2014, 3:49 pm | BusinessDesk
Oct. 16 (BusinessDesk) - Fletcher Building, New Zealand's largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a "highly competitive market". More >>
Labour keeps falling in first post-election poll
Thursday, 16 October 2014, 3:04 pm | BusinessDesk
Oct. 16 (BusinessDesk) - The first political opinion poll to be published since the Sept. 20 general election shows Labour falling to its lowest ever support, at 22.5 percent, as measured by the Roy Morgan polling agency, compared with the 25 percent ... More >>
NZ building construction costs set to accelerate, NZIER says
Thursday, 16 October 2014, 1:36 pm | BusinessDesk
Oct. 16 (BusinessDesk) - New Zealand building costs are expected to accelerate at the fastest pace since the last construction boom in the mid-2000s, driven by demand from expansion in Auckland and the rebuilding of earthquake devastated Christchurch. More >>
NZ Racing Board books a win on Football World Cup
Thursday, 16 October 2014, 1:34 pm | BusinessDesk
NZ Racing Board books a win on Football World Cup, spends big chasing online punters More >>
Pulse Energy seeks up to $6 mln in convertible notes offer
Thursday, 16 October 2014, 11:58 am | BusinessDesk
Oct. 16 (BusinessDesk) - Pulse Energy, the electricity retailer controlled by lines company Buller Electricity, is seeking up to $6 million through a convertible notes offer to sophisticated investors to ensure it has a big enough cash buffer as it ... More >>
Grant Herbert jailed for four years six months for fraud
Thursday, 16 October 2014, 11:16 am | BusinessDesk
Oct. 16 (BusinessDesk) - Grant Herbert, the former owner and director of failed insurance broking firm Herbert Insurance Group, has been jailed for four years six months after being found guilty of fraud last month. More >>
