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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 944]
NZ dollar rises vs. Russian ruble amid Ukraine tension
Monday, 1 September 2014, 8:46 am | BusinessDesk
NZ dollar rises to 4-month high vs. Russian ruble on rising tensions over Ukraine More >>
Brierley sells A$2.7 mln of GPG shares
Monday, 1 September 2014, 8:46 am | BusinessDesk
Sept. 1 (BusinessDesk) - Veteran corporate raider Ron Brierley sold A$2.7 million of shares in Guinness Peat Group, the investment firm he founded in the early 1990s, and has raised more than $20 million since he started selling in late 2012. More >>
World Week Ahead: Focus on US jobs, ECB
Monday, 1 September 2014, 7:13 am | BusinessDesk
Sept. 1 (BusinessDesk) - US employment data and a meeting of policymakers at the European Central Bank will renew the focus on when interest rates will begin to rise in the US, and the degree and timing of additional stimulus in the euro zone. More >>
"Far more serious" allegations, says Key, as Collins resigns
Saturday, 30 August 2014, 3:51 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Prime Minister John Key has been handed a cast-iron excuse to rid his government of its troublesome Justice Minister, Judith Collins, using an email supplied anonymously to his office yesterday which appears to show Collins ... More >>
Collins set to walk today
Saturday, 30 August 2014, 12:07 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Embattled Justice Minister Judith Collins is expected either to resign or be sacked from the National Party Prime Minister John Key's Cabinet within the hour. More >>
Fonterra credit rating cut by S&P, Fitch affirms rating
Friday, 29 August 2014, 6:46 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Fonterra Cooperative Group has had its A+ credit rating cut one notch by Standard & Poor's over its investment in China's Beingmate Baby & Child Food, which the rating agency sees as a more aggressive push into the ... More >>
WDT widens 1H loss, warns FY earnings won't improve
Friday, 29 August 2014, 6:41 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Wellington Drive Technologies, the unprofitable manufacturer of energy efficient motors, widened its first half loss and said full year earnings won't improve as sales slump in Latin America, its largest market. More >>
Veritas Investments to buy upmarket Nosh supermarket chain
Friday, 29 August 2014, 6:18 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Veritas Investments, which owns the Mad Butcher franchise business, has entered into a conditional agreement to buy the gourmet-supermarket chain, Nosh Food Market from Nosh Management for an undisclosed sum. More >>
MARKET CLOSE: NZ shares fall led by Auckland Airport
Friday, 29 August 2014, 5:41 pm | BusinessDesk
Aug. 29 (BusinessDesk) - New Zealand shares extended yesterday's decline, led by Auckland International Airport, as investors locked in the month's gains ahead of September's general election, while energy companies fell amid political uncertainty. More >>
Vector wins tax case over Auckland CBD tunnel payment
Friday, 29 August 2014, 5:31 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Vector, the Auckland electricity and gas network operator, has won a tax case against the Inland Revenue Department over a $53 million payment relating to access rights to its Auckland CBD tunnel. More >>
Lyttelton Port profit boosted by insurance payments
Friday, 29 August 2014, 5:21 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Lyttelton Port Co, Christchurch's ocean trade hub, posted a jump in annual profit and paid off its debt after settling insurance claims resulting from the 2011 Canterbury earthquakes. More >>
NZ dollar heads for 0.5% weekly decline
Friday, 29 August 2014, 5:09 pm | BusinessDesk
NZ dollar heads for 0.5% weekly decline on brighter US economy, slowing local growth More >>
Marsden Maritime lifts annual profit 24%
Friday, 29 August 2014, 4:08 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Marsden Maritime Holdings, formerly Northland Port Co, lifted annual profit 24 percent as a stronger result from its half-stake in Whangarei's Northport was supported by asset sales in the year. More >>
UPDATE:Bathurst writes off full value of Buller coal project
Friday, 29 August 2014, 3:29 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Bathurst Resources has written off the total value of the assets covered by its Buller coal project as it hunkers down and waits for international coking coal market conditions to improve. More >>
Pyne Gould FY profit more than halves as asset sales end
Friday, 29 August 2014, 3:24 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Pyne Gould Corp, the Guernsey-based asset management firm controlled by George Kerr, more than halved its annual profit after completing its asset sale programme and is eyeing a return to paying dividends. More >>
CORRECT: TVNZ lifts annual profit 25% on flat ad revenue
Friday, 29 August 2014, 3:06 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More >>
NZ business confidence declines for 6th consecutive month
Friday, 29 August 2014, 2:25 pm | BusinessDesk
Aug. 29 (BusinessDesk) - New Zealand firms' confidence declined for the sixth successive month in August, as the country's economic growth comes off the boil amid declining terms of trade, a strong currency and rising interest rates, according to ANZ Bank's ... More >>
Woolworths' NZ supermarkets lift annual earnings 4.2%
Friday, 29 August 2014, 12:56 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Australian supermarket chain Woolworths lifted annual earnings from its New Zealand Countdown stores 4.2 percent as it widened margins in what it called "subdued" trading conditions. More >>
KiwiRail loss widens to $248M as talks on its future resume
Friday, 29 August 2014, 12:55 pm | BusinessDesk
Aug. 29 (BusinessDesk) - KiwiRail, the unprofitable government-owned rail operator, has turned a net loss of $248 million for the year to June 30, as crippling annual writedowns on the value of its assets continued, despite total investment by the ... More >>
Promisia widens first-half loss as it chases US expansion
Friday, 29 August 2014, 12:37 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Promisia Intergrative, the listed-therapeutic health supplements company, widened its first-half loss as it looks to expand its Arthrem brand into the United States. The shares gained. More >>
