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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 961]
Realestate.co.nz says unfazed by Trade Me price cutting
Friday, 1 August 2014, 3:12 pm | BusinessDesk
Trade Me property's industry-owned rival says it won't be affected by 'desperate fee cutting' More >>
Xero says on target with accelerated cash burn
Friday, 1 August 2014, 1:25 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Xero, the cloud-based accounting software company, said a 47 percent increase in quarterly cash burn is on budget as it hires workers and takes on rival Intuit in the US market. More >>
Chch mulls sale of strategic assets stake for rebuild
Friday, 1 August 2014, 12:42 pm | BusinessDesk
Aug. 1 (BusinessDesk) - Christchurch City Council is contemplating the sale of a strategic stake in the holding company that controls the city's port, airport and electricity network to help close the growing gap between its available funding and ... More >>
NAB CEO Thorburn takes BNZ's Renee Roberts back to Australia
Friday, 1 August 2014, 11:28 am | BusinessDesk
Aug. 1 (BusinessDesk) - Andrew Thorburn, head of National Australia Bank, has lured Renee Roberts back to Australia, from her executive role with Bank of New Zealand to part of his new leadership team. More >>
Kathmandu says July cold snap boosted sales, earnings
Friday, 1 August 2014, 11:19 am | BusinessDesk
Aug. 1 (BusinessDesk) - Kathmandu Holdings says a cold snap last month in Australia and New Zealand helped generate more sales than anticipated when the outdoor apparel and equipment retailer announced a profit warning in June. The shares rose 5.1 percent. More >>
Hellaby writes off $26.9M goodwill on struggling shoe stores
Friday, 1 August 2014, 10:39 am | BusinessDesk
Aug. 1 (BusinessDesk) - Hellaby Holdings, the diversified investment company, will take a $26.9 million impairment against its 2014 earnings to write off goodwill on its shoe stores Hannahs and Number One Shoes, after two years of poor performance. More >>
Argosy sells Waitakere Mega Centre for $45.8M
Friday, 1 August 2014, 10:39 am | BusinessDesk
Aug. 1 (BusinessDesk) - Argosy Property sold its Waitakere Mega Centre in Henderson, Auckland, for its $45.8 million book value as New Zealand's fourth-largest listed property investor seeks to reduce exposure to retail property. More >>
UPDATE: Gentrack shares slump 19% to below IPO price
Friday, 1 August 2014, 10:21 am | BusinessDesk
Aug. 1 (BusinessDesk) - Shares of Gentrack Group plunged as much as 19 percent after the airport and utility software company said it won't meet prospectus forecasts for sales and profit because of a customer dispute and a delayed contract upgrade. More >>
Gentrack says sales, profit won't meet prospectus forecasts
Friday, 1 August 2014, 9:49 am | BusinessDesk
Aug. 1 (BusinessDesk) - Gentrack Group, the airport and utility software company that raised almost $100 million last month selling new and existing shares, won't meet its prospectus forecasts for sales and profit because of a customer dispute ... More >>
NZ dollar slips as greenback lifts on labour data
Friday, 1 August 2014, 8:58 am | BusinessDesk
Aug. 1 (BusinessDesk) - The New Zealand dollar weakened as US labour market data strengthened the greenback, bolstering optimism of an upbeat US non-farm payrolls report today which may reinforce the case for the Federal Reserve to hike rates sooner ... More >>
While you were sleeping: Adidas wrong-foots
Friday, 1 August 2014, 7:52 am | BusinessDesk
Aug 1 (BusinessDesk) - Equities on both side of the Atlantic sank amid concern about US interest rate policy, a surprise profit warning from Adidas and a decision by Argentina to default on its debt. More >>
Support for National dives just as Parliament rises
Thursday, 31 July 2014, 6:26 pm | BusinessDesk
July 31 (BusinessDesk) - Support for the National Party has slumped five percentage points to 46 percent while combined support for the Labour and Green parties has risen 3.5 percentage points to 42 percent in the latest poll from Roy Morgan Research, ... More >>
MARKET CLOSE: NZ stocks rise; Chorus gains to 4-week high
Thursday, 31 July 2014, 6:05 pm | BusinessDesk
MARKET CLOSE: NZ stocks rise; Chorus gains to 4-week high; Telecom snaps 4 day decline More >>
NZ dollar gains vs. AUD as greenback strengthens
Thursday, 31 July 2014, 5:48 pm | BusinessDesk
Jul. 31 (BusinessDesk) - The New Zealand dollar pared its decline from an eight-week low after failing to break below key support levels as traders await US labour market data due overnight Friday local time, which may provide clues to the timing of interest ... More >>
UBS rates Chorus a 'buy', Telecom cut to a 'sell'
Thursday, 31 July 2014, 3:16 pm | BusinessDesk
July 31 (BusinessDesk) - Chorus, whose shares have halved in value from their 2012 peak, offers long-term value given the prospects for ultra-fast broadband, while Telecom faces a challenge rebranding in a competitive services market, UBS analysts ... More >>
Trade Me will probably lure back real estate listings
Thursday, 31 July 2014, 3:10 pm | BusinessDesk
Trade Me will probably lure back real estate listings from rival after backing down on fees More >>
Judges probe as Chorus appeals Comcom pricing
Thursday, 31 July 2014, 1:44 pm | BusinessDesk
July 31 (BusinessDesk) - Telecommunications infrastructure operator Chorus has opened its case in the Court of Appeal, challenging a High Court decision in April upholding the Commerce Commission's lower-than-expected regulated prices for broadband internet ... More >>
NZ exporters should think premium in targeting China
Thursday, 31 July 2014, 12:45 pm | BusinessDesk
July 31 (BusinessDesk) - New Zealand exporters struggling to meet Chinese demand for commodities such as milk powder, logs and lamb flaps, should look to market more premium products to an increasingly worldly, wealthy Chinese consumer, according ... More >>
CDL Investments posts 44% gain in first-half profit
Thursday, 31 July 2014, 12:02 pm | BusinessDesk
July 31 (BusinessDesk) - CDL Investments, the residential property developer controlled by Millennium & Copthorne Hotels New Zealand, posted a 44 percent gain in first-half profit after doubling its sales of sections at developments in Auckland, Hamilton ... More >>
PledgeMe, Snowball Effect gain equity crowd-funding licences
Thursday, 31 July 2014, 10:23 am | BusinessDesk
July 31 (BusinessDesk) - The Financial Markets Authority has awarded its first equity crowd funding licences to two platforms, nearly five months after the process first began. More >>
