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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 963]
NZ dollar drops after Fonterra cuts forecast payout
Tuesday, 29 July 2014, 5:12 pm | BusinessDesk
July 29 (BusinessDesk) - The New Zealand dollar fell to the lowest level in almost seven weeks after Fonterra Cooperative Group cut its forecast 2015 milk payout more than some economists had expected, suggesting a bigger impact on the New Zealand ... More >>
Fonterra slashes 2015 milk payout forecast to $6/kgMS
Tuesday, 29 July 2014, 4:47 pm | BusinessDesk
July 29 (BusinessDesk) - Fonterra Cooperative Group cut its forecast 2015 milk price payout by 14 percent, citing a decline in global dairy prices in the face of strong global production, a build-up of inventory in China and falling demand in emerging ... More >>
Pumpkin Patch founder Sally Synnott leaves board
Tuesday, 29 July 2014, 4:28 pm | BusinessDesk
July 29 (BusinessDesk) - Pumpkin Patch founder Sally Synnott is retiring from the childrenswear retailer's board to be replaced by Griffin's Foods executive Josette Prince as the business continues a strategic review to revive falling sales and profit. More >>
Leighton-led WGP to build, manage Transmission Gully
Tuesday, 29 July 2014, 3:29 pm | BusinessDesk
July 29 (BusinessDesk) - The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More >>
Ross Asset investors on notice over withdrawals
Tuesday, 29 July 2014, 11:36 am | BusinessDesk
July 29 (BusinessDesk) - Investors who managed to withdraw funds in recent years from the Ross Asset Management group of companies, found to be a Ponzi scheme, have been put on notice that the liquidators may try to claw back the cash. More >>
ERoad shares priced at bottom end of range, owners trim sale
Tuesday, 29 July 2014, 11:14 am | BusinessDesk
July 29 (BusinessDesk) - Shares of ERoad have been priced at $3 apiece, the bottom of its proposed range, and existing owners sold less of their holdings as the logistics and fleet management company raises $40 million in new capital to chase growth in ... More >>
Hart's Reynolds mulls ownership of Evergreen, Closures, SIG
Tuesday, 29 July 2014, 10:57 am | BusinessDesk
July 29 (BusinessDesk) - New Zealand billionaire Graeme Hart's Reynolds Group is considering the sale of three units that make up more than a third of his global packaging empire's earnings. More >>
CORRECT: Abano achieves second year of 75% profit growth
Tuesday, 29 July 2014, 9:21 am | BusinessDesk
July 28 (BusinessDesk) - Abano Healthcare, the medical investor that fended off a hostile takeover from its biggest shareholder, posted a 75 percent jump in full-year profit, beating guidance and allowing it to maintain dividend payments for a sixth ... More >>
NZ dollar edges up as traders await swathe of US data
Tuesday, 29 July 2014, 8:44 am | BusinessDesk
July 29 (BusinessDesk) - The New Zealand dollar edged up amid US dollar weakness as traders await key US economic releases in coming days. More >>
While you were sleeping: US pending home sales drop
Tuesday, 29 July 2014, 7:19 am | BusinessDesk
July 29 (BusinessDesk) - Wall Street crawled higher after a disappointing report on housing underpinned concern about the industry’s struggle to recover a day before the US Federal Reserve is starting a two-day policy meeting. More >>
MARKET CLOSE: NZ shares fall ahead of earnings season
Monday, 28 July 2014, 5:46 pm | BusinessDesk
MARKET CLOSE: NZ shares fall ahead of earnings season; Air NZ drops to 3-month low More >>
NZ dollar slips as Key says kiwi over-valued
Monday, 28 July 2014, 5:18 pm | BusinessDesk
July 28 (BusinessDesk) - The New Zealand dollar fell to a month-low after Prime Minister John Key said he agreed with the Reserve Bank that the currency is over-valued and as traders anticipate an announcement from Fonterra Cooperative Group tomorrow which ... More >>
Abano achieves second year of 75% profit growth
Monday, 28 July 2014, 4:45 pm | BusinessDesk
July 28 (BusinessDesk) - Abano Healthcare, the medical investor fending off a hostile takeover from its biggest shareholder, posted a 75 percent jump in full-year profit, beating guidance and allowing it to maintain dividend payments for a sixth straight ... More >>
Too early to predict returns from NZVIF's seed fund: Banga
Monday, 28 July 2014, 4:12 pm | BusinessDesk
July 28 (BusinessDesk) - The government-backed New Zealand Venture Investment Fund says it's still too early to judge the performance of the Seed Co-Investment Fund, which backs early-stage firms alongside angel investors. More >>
UPDATE: Acurity shareholders launch all-cash takeover bid
Monday, 28 July 2014, 12:43 pm | BusinessDesk
July 28 (BusinessDesk) - The three biggest shareholders of Acurity Health Group have launched a cash takeover bid for the 29 percent they don't own, valuing the private hospital operator at $112.2 million, saying the firm faces a big struggle lifting ... More >>
Burger King widens annual losses on rising costs
Monday, 28 July 2014, 12:40 pm | BusinessDesk
July 28 (BusinessDesk) - Blackstone Group's Burger King chain in New Zealand widened its loss in 2013 as rising sales, in an increasingly crowded burger market, were offset by higher costs for raw materials and consumables, and increased property ... More >>
CORRECT: NZX 1H activity shows boosted volume, lower value
Monday, 28 July 2014, 11:53 am | BusinessDesk
(Fixes number of listings in first graph, removes incorrect listing date of CRP and rights issues in third graph) More >>
CORRECT: SLI Systems says sales miss forecast on ARR basis
Monday, 28 July 2014, 11:50 am | BusinessDesk
CORRECT: SLI Systems says FY sales miss forecast on ARR basis, to report smaller loss More >>
NZX first-half activity shows boosted volume, falling value
Monday, 28 July 2014, 10:37 am | BusinessDesk
July 28 (BusinessDesk) - The volume of cash trading on the NZX rose 22 percent in the first six months of the year, compared to a year earlier, with 16 new listings across its debt and equities markets, including four companies debuting on the bourse. ... More >>
Dorchester Pacific to bid $3/share for Turners Auctions
Monday, 28 July 2014, 10:33 am | BusinessDesk
July 28 (BusinessDesk) - Dorchester Pacific plans to offer $3 a share in cash, shares and notes for Turners Auctions, valuing the auction company at $82 million, after winning support from chairman and major shareholder Michael Dossor. More >>
