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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 948]
While you were sleeping: Wall Street hits record
Tuesday, 26 August 2014, 7:42 am | BusinessDesk
Aug. 26 (BusinessDesk) - Equities on both sides of the Atlantic climbed, lifted by Burger King’s talks to buy Tim Hortons and expectations that the European Central Bank moved closer to additional measures to bolster the struggling euro-zone economy. More >>
MARKET CLOSE: NZ shares rise, led by Xero, Pacific Edge
Monday, 25 August 2014, 5:42 pm | BusinessDesk
Aug. 25 (BusinessDesk) - New Zealand share rose, led by Xero and Pacific Edge, as risk appetite returned to the market. Metlifecare gained after its full-year profit exceeded expectations, while Kathmandu Holdings fell on news its chief executive ... More >>
NZ dollar falls as Yellen helps lift greenback
Monday, 25 August 2014, 5:31 pm | BusinessDesk
Aug. 25 (BusinessDesk) - The New Zealand dollar fell after Federal Reserve chair Janet Yellen gave a more hawkish view of the US economy and tensions rose over Ukraine, sapping risk appetite. The kiwi extended its slide amid talk the central bank may ... More >>
Kathmandu boss Halkett to leave in November
Monday, 25 August 2014, 3:56 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Kathmandu Holdings chief executive Peter Halkett will leave the outdoor equipment chain in late November, having led the company for eight years. More >>
UPDATE: TRS shares halted as Yan's Mega stake frozen
Monday, 25 August 2014, 3:15 pm | BusinessDesk
UPDATE: Trading in TRS shares halted as William Yan-related Mega stake under restraining order More >>
Labour trims new spending plans by $300 million a year
Monday, 25 August 2014, 3:13 pm | BusinessDesk
Aug. 25 (BusinessDesk) - The Labour Party has trimmed its new spending plans by about $300 million a year to take account of weaker economic forecasts and smaller Budget surpluses presented in last week's Pre-Election Economic and Fiscal Update, published ... More >>
NZ Dollar Outlook: Kiwi may decline on US optimism
Monday, 25 August 2014, 2:58 pm | BusinessDesk
NZ Dollar Outlook: Kiwi may decline as optimism builds about US recovery after Jackson Hole More >>
William Yan-related Mega stake under restraining order
Monday, 25 August 2014, 2:26 pm | BusinessDesk
Aug. 25 (BusinessDesk) - An 18.8 percent stake in cloud storage and encryption firm Mega has been placed under a restraining order as part of a freeze on the assets of Auckland business William Yan. More >>
UPDATE: Chorus reins in rollout costs ahead of price finding
Monday, 25 August 2014, 12:41 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Chorus, the telecommunications network operator, managed to rein in the costs of its ultra-fast broadband rollout last year but its outlook for earnings hangs on the regulator's final position on pricing of copper line network ... More >>
Dotcom warrants a 'fishing expedition,' QC tells court
Monday, 25 August 2014, 12:40 pm | BusinessDesk
Aug. 25 (BusinessDesk) - The search warrants executed in the high profile arrest of internet entrepreneur Kim Dotcom in 2012 were invalid and nothing more than a "fishing expedition," the Supreme Court heard today. More >>
Moa raises $5.25 million in over subscribed rights offer
Monday, 25 August 2014, 12:14 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Moa Group, the unprofitable boutique brewer, raised $5.25 million in an oversubscribed discounted rights issue to shareholders to fund further growth plans. More >>
Blis Technology stock jumped 50% on news of wider rollout th
Monday, 25 August 2014, 11:41 am | BusinessDesk
Aug. 25 (BusinessDesk) - Blis Technologies shares soared 50 percent after the biotech company said its Chinese partner planned to roll out a much wider market test of its probiotic products for mouth and throat health than it had initially indicated. More >>
NZ dollar's drop stokes talk of intervention
Monday, 25 August 2014, 11:18 am | BusinessDesk
Aug. 25 (BusinessDesk) - The New Zealand dollar dropped sharply in mid morning trade on Monday, shedding half a US cent in about five minutes and prompting speculation of Reserve Bank intervention. More >>
Meridian to sell metering business Arc Innovations to Vector
Monday, 25 August 2014, 11:11 am | BusinessDesk
Aug. 25 (BusinessDesk) - Meridian Energy, the government-controlled energy company, will sell its metering assets and services business, Arc Innovations, to Vector, the Auckland lines company, as it focuses on its retail business. More >>
Metlifecare boosts earnings 37%, at top end of guidance
Monday, 25 August 2014, 10:50 am | BusinessDesk
Aug. 25 (BusinessDesk) - Metlifecare, the retirement village operator which counts the New Zealand Superannuation Fund and Infratil as cornerstone investors, increased underlying full-year earnings by 37 percent, at the top end of its guidance, and ... More >>
Heartland meets guidance with rebound in FY profit
Monday, 25 August 2014, 10:27 am | BusinessDesk
Aug. 25 (BusinessDesk) - Heartland New Zealand, the bank formed from the merger of Canterbury and Southern Cross building societies and Marac Finance, posted a rebound in profit that met its guidance this month and reiterated its projection for earnings ... More >>
New Taiwan-NZ venture fund closes first tranche with US$75M
Monday, 25 August 2014, 9:37 am | BusinessDesk
Aug. 25 (BusinessDesk) - The government-backed New Zealand Venture Investment Fund has closed the first tranche of capital-raising for a new fund that aims to back kiwi firms into the greater China market, raising US$75 million and targeting at ... More >>
Intueri triples 1H profit as earnings helped by acquisitions
Monday, 25 August 2014, 9:33 am | BusinessDesk
Aug. 25 (BusinessDesk) - Intueri Education Group, New Zealand's largest private training company, more than tripled first-half profit as it benefited from its acquisition of a half-share in an Australian online education service and from its purchase of ... More >>
Chorus full-year profit drops 14% as sales, connections slip
Monday, 25 August 2014, 9:18 am | BusinessDesk
Aug. 25 (BusinessDesk) - Chorus, the telecommunications network operator facing regulated price cuts in December, posted a 14 percent drop in full-year profit that met market expectations on static sales and a marginal decline in fixed-line connections. More >>
NZ dollar weakens as Fed's Yellen less dovish than expected
Monday, 25 August 2014, 8:34 am | BusinessDesk
Aug. 25 (BusinessDesk) - The New Zealand dollar weakened on US dollar strength after Federal Reserve chair Janet Yellen was less dovish than expected in her speech to an annual gathering of world central bankers at Jackson Hole, Wyoming. More >>
