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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 981]
IAG's Lumley takeover gets final regulatory approval
Friday, 20 June 2014, 11:22 am | BusinessDesk
June 20 (BusinessDesk) - Insurance Australia Group has been given the final regulator's tick to buy Wesfarmers' Lumley general insurance unit, adding to the dominance of New Zealand’s biggest general insurer. More >>
Diligent 1Q profit jumps 58% as sales increase 40%
Friday, 20 June 2014, 10:19 am | BusinessDesk
June 20 (BusinessDesk) - Diligent Board Member Services, the governance app maker which was forced to restate its financial statements, posted a 58 percent rise in first quarter profit as it increased the number of Diligent Boardbooks users. More >>
Warehouse cuts FY earnings forecast on warm weather
Friday, 20 June 2014, 9:17 am | BusinessDesk
June 20 (BusinessDesk) - Warehouse Group, New Zealand's largest listed retailer, cut its forecast for annual earnings as warmer autumn and winter weather crimped sales and margins of seasonal clothing and home products. More >>
NZ dollar slips on GDP, holds above 87 US cents
Friday, 20 June 2014, 8:44 am | BusinessDesk
June 20 (BusinessDesk) - The New Zealand dollar slipped overnight as some traders were disappointed yesterday's gross domestic product report failed to beat expectations, however it remains elevated above 87 US cents More >>
Transdev Auckland doubles profit, eyes Wellington contract
Friday, 20 June 2014, 7:52 am | BusinessDesk
June 20 (BusinessDesk) - Transdev Auckland, a unit of the French transportation company that runs commuter rail in New Zealand's largest city, more than doubled profit last year and is now preparing to challenge KiwiRail when its contract for Wellington ... More >>
While you were sleeping: Wall Street slips from record
Friday, 20 June 2014, 6:55 am | BusinessDesk
June 20 (BusinessDesk) – Wall Street slipped, pushing the Standard & Poor’s 500 Index down from the previous day’s record-high close, as retail stocks including Coach slumped on disappointing outlooks. More >>
PGG Wrightson says full-year earnings were $56M-$58M
Thursday, 19 June 2014, 6:12 pm | BusinessDesk
June 19 (BusinessDesk) - PGG Wrightson, the rural services firm controlled by China’s Agria Corp, said full-year earnings exceeded its guidance even in the face on unfavourable weather and announced the $30 million purchase of a company that owns properties ... More >>
MARKET CLOSE: NZ shares rise in global surge; Diligent gains
Thursday, 19 June 2014, 6:06 pm | BusinessDesk
June 19 (BusinessDesk) - New Zealand stocks advanced in a global rally after the Federal Reserve forecast lower interest rates, while government figures showed the local economy continues to grow. Diligent Board Member Services paced gains ahead ... More >>
IkeGPS says it has firm allocations for $25M IPO
Thursday, 19 June 2014, 5:40 pm | BusinessDesk
IkeGPS Group, which sells a range of portable measuring devices and counts Jenny Morel's No 8 Ventures among its shareholders, said it has firm allocations from brokers and institutions for the $25 million it aims to raise next month but has abandoned ... More >>
NZ dollar TWI slips from record as 1Q GDP misses estimate
Thursday, 19 June 2014, 5:29 pm | BusinessDesk
June,19 (BusinessDesk) - The trade-weighted index of the New Zealand dollar, or TWI, declined from a record after government data showed slower than expected economic growth in the first quarter. More >>
CORRECT: Infratil expects bids for Australian energy assets
Thursday, 19 June 2014, 3:46 pm | BusinessDesk
June 19 (BusinessDesk) - Infratil, the energy, airport and transport investor, said it has provided interested parties with a confidential information memorandum on its Infratil Energy Australia (IEA) business and expects indicative offers for the ... More >>
Brownlee invokes quake powers to fast-track port rebuild
Thursday, 19 June 2014, 2:18 pm | BusinessDesk
June 19 (BusinessDesk) - Repairs at Lyttelton Port Co, Christchurch’s ocean trade hub which was damaged in the 2010 and 2011 Canterbury earthquakes, are to be fast-tracked by Canterbury earthquake recovery minister Gerry Brownlee. More >>
FFW's Martinborough takeover bid crosses 90% threshold
Thursday, 19 June 2014, 1:51 pm | BusinessDesk
June 19 (BusinessDesk) - Foley Family Wines, which is majority owned by American businessman and vineyard owner Bill Foley, has met the last of its conditions for its takeover bid for Martinborough Vineyard Estates, crossing the 90 percent threshold ... More >>
SeaDragon sales to more than double on new contracts
Thursday, 19 June 2014, 1:30 pm | BusinessDesk
June 19 (BusinessDesk) - SeaDragon, which manufactures fish oil for health supplements, expects to more than double annual sales as two squalene contracts worth US$6 million boost revenue in the second half. More >>
UPDATE: NZ economy grows at 3.3% annual rate
Thursday, 19 June 2014, 12:07 pm | BusinessDesk
UPDATE: NZ economy grows at 3.3% annual rate as construction posts largest increase in 14 years More >>
Infratil expects offers for Aust energy assets by mid-July
Thursday, 19 June 2014, 11:25 am | BusinessDesk
June 19 (BusinessDesk) - Infratil, the energy, airport and transport investor, said it has provided interested parties with a confidential information memorandum on its Infratil Energy Australia (IEA) business and expects indicative offers for the ... More >>
Mining sector in shock over seabed mining rejection
Thursday, 19 June 2014, 11:02 am | BusinessDesk
June 19 (BusinessDesk) - Mining industry leaders are in shock over the rejection of an application to mine ironsands from the ocean floor off the coast of southern Taranaki, and one is questioning whether the six month fast-track process administered ... More >>
NZ economy grows at 3.3% annual rate in 1Q
Thursday, 19 June 2014, 11:01 am | BusinessDesk
NZ economy grows at 3.3% annual rate in 1Q as construction posts largest increase in 14 years More >>
Postie Plus to shut 12 stores, eliminate 64 workers
Thursday, 19 June 2014, 9:37 am | BusinessDesk
June 19 (BusinessDesk) - The administrators of failed retailer Postie Plus Group, which has been bought by a yet-to-be-named foreign retailer, will close 12 of the chain's 82 shops in New Zealand, cutting 64 workers. More >>
NZ dollar jumps above 87 US cents as Fed lowers growth path
Thursday, 19 June 2014, 8:46 am | BusinessDesk
June 19 (BusinessDesk) - The New Zealand dollar jumped above 87 US cents after the Federal Reserve lowered its US growth and long-term interest rate projections, damping demand for the greenback. More >>
