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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 983]
CORRECT: Air NZ ups Virgin Australia stake to maximum 25.99%
Tuesday, 17 June 2014, 11:47 am | BusinessDesk
June 17 (BusinessDesk) - Air New Zealand, the national carrier, has increased its cornerstone shareholding in Virgin Australia to the maximum allowed under that nation's foreign investment rules. More >>
Hirepool settles tax dispute ahead of IPO
Tuesday, 17 June 2014, 10:51 am | BusinessDesk
June 17 (BusinessDesk) - Hirepool is the latest company with trans-Tasman operations to settle a tax dispute with the Inland Revenue Department, forfeiting $58.6 million of tax losses generated by the use of mandatory convertible notes, one of two commonly ... More >>
Air NZ ups Virgin Australia stake to maximum 25.99%
Tuesday, 17 June 2014, 9:46 am | BusinessDesk
June 17 (BusinessDesk) - Air New Zealand, the national carrier, has increased its cornerstone shareholding in Virgin Australia to the maximum allowed under that nation's foreign investment rules. More >>
NZ dollar tests 87 US cents overnight after RBNZ hike
Tuesday, 17 June 2014, 8:49 am | BusinessDesk
June 17 (BusinessDesk) - The New Zealand dollar tested the 87 US cent level overnight for the second time since the Reserve Bank tightened monetary policy last week, as low volatility in currency markets kept the nation's relative high interest rates ... More >>
While you were sleeping: Oil prices rise
Tuesday, 17 June 2014, 7:49 am | BusinessDesk
June 17 (BusinessDesk) – Wall Street eked out gains as merger and takeover activity outweighed concern about rising oil prices and escalating chaos in Iraq and an IMF downgrade in its US economic growth forecast. More >>
MARKET CLOSE: NZ stocks edge higher; Xero gains on sales
Monday, 16 June 2014, 5:41 pm | BusinessDesk
June 16 (BusinessDesk) - New Zealand shares edged higher as growing violence in Iraq kept markets nervous and as local investors mulled a spate of new initial public offerings. Xero paced the gains after it said annualised sales eclipsed $100 million. More >>
NZ dollar may fall amid escalating Iraqi violence
Monday, 16 June 2014, 5:05 pm | BusinessDesk
June 16 (BusinessDesk) - The New Zealand dollar may fall this week as growing Middle East tensions weigh on investor confidence. More >>
Scott Technology agrees to buy Applied Sorting Technologies
Monday, 16 June 2014, 4:03 pm | BusinessDesk
June 16 (BusinessDesk) - Scott Technology, the industrial automation firm, is to make its second acquisition this year by agreeing to buy Melbourne-based Applied Sorting Technologies (AST) for $1.3 million to gain inspection technologies with ... More >>
Ocean ironsands mining decision due Wednesday
Monday, 16 June 2014, 3:55 pm | BusinessDesk
June 16 (BusinessDesk) - The fate of a $70 million bid to mine ironsands off the ocean floor in the southern Taranaki Bight will be known this Wednesday when a decision-making committee appointed by the Environmental Protection Authority rules on TransTasman ... More >>
Hirepool sees profits from 2015 on debt repayment, merger
Monday, 16 June 2014, 3:49 pm | BusinessDesk
June 16 (BusinessDesk) - Hirepool is projecting profits from 2015, after years of losses, having squeezed out costs since buying major rival Hirequip out of receivership last year and using its initial public offering to pay down debt. More >>
NZ Dollar Outlook: Kiwi may falter amid conflicting forces
Monday, 16 June 2014, 2:26 pm | BusinessDesk
June 16 (BusinessDesk) - The New Zealand dollar may falter this week as traders weigh the outlook for higher interest rates as dairy prices come off the boil while economic growth continues to accelerate. More >>
Fletcher faces $11 mln charge on sale of Hudson unit
Monday, 16 June 2014, 1:45 pm | BusinessDesk
June 16 (BusinessDesk) - Fletcher Building, New Zealand's largest listed company, faces an $11 million charge on the sale of its construction materials distribution business Hudson Building Supplies for $20 million to HTH Stores. More >>
Hirepool plans to raise up to $262M in IPO, listing in July
Monday, 16 June 2014, 12:08 pm | BusinessDesk
Hirepool plans to raise up to $262M in IPO, list on NZX, ASX July 11 More >>
NZ house sales fall 14.8% in May from year earlier
Monday, 16 June 2014, 11:41 am | BusinessDesk
NZ house sales fall 14.8% in May from year earlier, LVR curbs crimp lower-value sales More >>
NZ service sector activity slows in May, still expanding
Monday, 16 June 2014, 11:33 am | BusinessDesk
June 16 (BusinessDesk) - New Zealand service sector activity, which accounts for about two thirds of the economy, dropped in May as supplier deliveries slipped into contraction, though the broader index continued to expand. More >>
NZ consumer confidence slips in 2Q on weak dairy, rate hikes
Monday, 16 June 2014, 10:36 am | BusinessDesk
June 16 (BusinessDesk) - New Zealand consumer confidence fell in the second quarter as lower dairy prices and higher interest rates weighed on sentiment. More >>
Xero hits $100 million in annualised revenue
Monday, 16 June 2014, 10:12 am | BusinessDesk
June 16 (BusinessDesk) - Xero, the cloud-based accounting software firm, continued to boost sales last month, with annualised revenue of $100 million for the first time. More >>
Pushpay to raise $9 million ahead of NZAX listing
Monday, 16 June 2014, 9:46 am | BusinessDesk
June 16 (BusinessDesk) - Pushpay, the mobile payment app developer, will raise $9 million in a private share issue before it seeks a compliance listing on the New Zealand Alternative Index in July. More >>
NZ dollar may face volatility as investors eye Iraq violence
Monday, 16 June 2014, 8:41 am | BusinessDesk
June 16 (BusinessDesk) - The New Zealand dollar could decline amid volatile trading on investor concern about escalating violence in Iraq. More >>
NZ GDP probably accelerated in 1st-qtr, supporting RBNZ's tr
Monday, 16 June 2014, 7:46 am | BusinessDesk
June 16 (BusinessDesk) - New Zealand's economy probably accelerated in the first quarter on construction activity, supporting the central bank's view that it must press on with interest rate increases to keep inflation at bay. More >>
