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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.

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Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 937]

MARKET CLOSE: NZ shares fall, Xero drops 8% as US CEO leaves

Friday, 12 September 2014, 5:44 pm | BusinessDesk

Sept. 12 (BusinessDesk) - New Zealand shares fell from a record led by Xero, after its North American chief executive left after only half a year with the company. Meridian Energy fell from a record as political uncertainty ahead of next week's ... More >>

NZ dollar heads for 1.9% weekly fall after RBNZ

Friday, 12 September 2014, 5:12 pm | BusinessDesk

Sept. 12 (BusinessDesk) - The New Zealand dollar is heading for a 1.9 percent fall against the greenback this week after the Reserve Bank cut its forecast track for future rate hikes, eroding the appeal of the local currency. More >>

F&P Healthcare may beat profit forecast on weaker kiwi

Friday, 12 September 2014, 5:07 pm | BusinessDesk

F&P Healthcare may beat profit forecast as kiwi's decline boosts export earnings, analysts say More >>

Rakon confident earnings will improve this year: Mogridge

Friday, 12 September 2014, 4:01 pm | BusinessDesk

Sept. 12 (BusinessDesk) - Rakon, which makes crystal oscillators used in navigation devices, reiterated that it expects earnings to turn around this year as it shutters factories and reduces staff to save money. More >>

NZ Genomics research spans wine, kakapo and maggots

Friday, 12 September 2014, 3:27 pm | BusinessDesk

Sept. 12 (BusinessDesk) - New Zealand Genomics, tasked with providing genomics infrastructure to researchers nationwide, had a 36 percent turnover boost in the September year compared to the previous year. More >>

GE Capital to sell New Zealand consumer finance businesses

Friday, 12 September 2014, 1:54 pm | BusinessDesk

Sept. 12 (BusinessDesk) - GE Capital, the finance company owned by US firm General Electric, is selling its New Zealand and Australian consumer finance businesses, including GE Money, GE CreditLine, GEM Visa card and the Countdown OneCard Visa credit ... More >>

ASX-listed CSR takes $9.5 mln provision for leaky NZ schools

Friday, 12 September 2014, 1:45 pm | BusinessDesk

Sept. 12 (BusinessDesk) - CSR Building Products (NZ), the unit of the ASX-listed building products maker, faces a bill of up to $9.5 million after cutting a deal with the government to settle looming legal action over the nation's leaky schools, ... More >>

UPDATE: Warehouse says profit growth will resume in 2015

Friday, 12 September 2014, 12:23 pm | BusinessDesk

(Updates share price in fifth graph, adds broker comment starting in seventh graph and further detail on business divisions.) More >>

Ireland's Independent News backs APN board

Friday, 12 September 2014, 11:56 am | BusinessDesk

Sept. 12 (BusinessDesk) - Irish media group Independent News & Media is backing the board of APN News & Media to grow shareholder value, as the Australasian publisher and broadcaster considers carving out its New Zealand unit. More >>

NZ house sales fall in August

Friday, 12 September 2014, 11:46 am | BusinessDesk

Sept. 12 (BusinessDesk) - New Zealand house sales fell in August as a lack of listings compounded the chilling effects of rising interest rates and mortgage loan restrictions, and as the upcoming general election adds another uncertainty for buyers. More >>

NZ food prices rise in August on more expensive produce

Friday, 12 September 2014, 11:41 am | BusinessDesk

Sept. 12 (BusinessDesk) - New Zealand food prices rose in August, paring the previous month's fall, as more expensive tomatoes, lettuce and broccoli offset discounted breads. More >>

NZ manufacturing picks up in August

Friday, 12 September 2014, 11:09 am | BusinessDesk

Sept. 12 (BusinessDesk) - New Zealand manufacturing activity picked up in August, extending the period of expansion to two years, and pointing to more industrial production after a mid-year lull. More >>

Xero shares drop 5.3% as US boss Peter Karpas quits

Friday, 12 September 2014, 11:04 am | BusinessDesk

Sept. 12 (BusinessDesk) - Peter Karpas, Xero's North America chief executive, quit just six months after joining, as the cloud-based accounting software company reassesses its US growth plans, said chief executive Rod Drury. The shares fell. More >>

Warehouse says profit growth will resume in 2015

Friday, 12 September 2014, 9:37 am | BusinessDesk

Sept. 12 (BusinessDesk) - Warehouse Group, New Zealand's largest listed retailer, expects earnings to rise this financial year following an 18 percent drop in 2014 as it benefits from investments in refurbishing its stores and adding new businesses. More >>

NZ dollar holds below 82 US cents following RBNZ review

Friday, 12 September 2014, 8:36 am | BusinessDesk

Sept. 12 (BusinessDesk) - The New Zealand dollar held below 82 US cents overnight after the Reserve Bank yesterday reiterated that is too high and signalled interest rates would remain on hold for longer and wouldn't rise as much as previously thought. More >>

While you were sleeping: Fed positioning

Friday, 12 September 2014, 7:52 am | BusinessDesk

Sept. 12 (BusinessDesk) - Stocks on both sides of the Atlantic retreated amid more signs of positive US growth, which is encouraging investors to bet on a more hawkish stance on interest rates when the Federal Reserve meets next week. More >>

MARKET CLOSE: NZX 50, Meridian, Genesis at record highs

Thursday, 11 September 2014, 5:35 pm | BusinessDesk

Sept. 11 (BusinessDesk) - New Zealand's benchmark NZX 50 Index rose to a record after the Reserve Bank signalled a slower pace of future interest rate hikes and investors bet a returning National government would ensure power companies such as Meridian ... More >>