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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 984]
World Week Ahead: Ball in Yellen’s court
Monday, 16 June 2014, 7:25 am | BusinessDesk
June 16 (BusinessDesk) – Federal Reserve policymakers are poised to meet this week just days after Bank of England Governor Mark Carney served an apparent ace: investors should prepare themselves for higher UK interest rates sooner than expected. More >>
MARKET CLOSE: NZ shares decline, tracking overseas stocks
Friday, 13 June 2014, 6:04 pm | BusinessDesk
Jun. 13 (BusinessDesk) - New Zealand shares fell, tracking overseas stocks down, as investors took profits ahead of the upcoming earnings season and amid concern about flaring geopolitical tensions that saw oil surge following escalating violence ... More >>
Booksellers await paper on tax-free offshore purchases
Friday, 13 June 2014, 5:56 pm | BusinessDesk
June 13 (BusinessDesk) - The national lobby for booksellers say minister of revenue Todd McClay is late in delivering a discussion paper on extending the tax on overseas purchases that undercut local retailers meeting their obligations to the Inland Revenue ... More >>
NZ dollar holds near five-week high on lure of higher rates
Friday, 13 June 2014, 5:28 pm | BusinessDesk
June 13 (BusinessDesk) - The New Zealand dollar held near a five-week high after the Reserve Bank's affirmation that it intends to keep raising interest rates briskly, making the kiwi a standout in a world where major central banks have rates near zero. More >>
Regulator again delays decision on Christchurch crematorium
Friday, 13 June 2014, 1:54 pm | BusinessDesk
June 13 (BusinessDesk) - The Commerce Commission has again delayed its final decision on Australia's largest undertakers buying Christchurch's 70-year-old Cremation Society of Canterbury to add two crematoriums to its New Zealand network. More >>
OceanaGold says share price surge may reflect rising gold
Friday, 13 June 2014, 1:34 pm | BusinessDesk
June 13 (BusinessDesk) - OceanaGold, the Melbourne-based gold miner, said it isn't aware of any material information requiring disclosure which would account for its share price rise. More >>
Abano dissidents admit defeat in stoush, vow to fight on
Friday, 13 June 2014, 1:14 pm | BusinessDesk
June 13 (BusinessDesk) – Dissident shareholders seeking removal of Abano Healthcare chairman Trevor Janes admitted likely defeat at the special meeting to vote on the issue in Auckland today, amid accusations of predatory behaviour from other shareholders. More >>
Snakk shares slide as loss widens in strategy to chase sales
Friday, 13 June 2014, 12:57 pm | BusinessDesk
June 13 (BusinessDesk) - Shares in Snakk Media fell 10 percent after the company, which matches advertisers with app users and social media, said annual sales nearly doubled, while its loss widened 62 percent as the company chased growth in Asia. More >>
NZ manufacturing falls for second month in May
Friday, 13 June 2014, 11:47 am | BusinessDesk
June 13 (BusinessDesk) - New Zealand manufacturing activity fell for a second consecutive month in May to the lowest level in 17 months, with a decline in new orders and a rise in inventory suggesting demand is waning. More >>
NZ food prices rise in May on expensive vegetables
Friday, 13 June 2014, 11:39 am | BusinessDesk
June 13 (BusinessDesk) - New Zealand food prices rose in May as a drop off in the price of meat, poultry and fish was offset by a 16 percent gain in vegetables. More >>
Comvita lifts cash component of $12.3 mln NZ Honey purchase
Friday, 13 June 2014, 11:32 am | BusinessDesk
June 13 (BusinessDesk) - Comvita, which makes health-care products and supplements based on honey, has lifted the cash component of its takeover offer for New Zealand Honey, the Timaru-based honey produce owned by the New Zealand Honey Producers Cooperative ... More >>
Fonterra slapped with $150,000 fine over NZX disclosure
Friday, 13 June 2014, 10:28 am | BusinessDesk
June 13 (BusinessDesk) - The New Zealand Markets Disciplinary Tribunal has fined Fonterra Cooperative Group $150,000 for breaching continuous disclosure requirements to the NZX during the dairy manufacturer and exporter's botulism false alarm last ... More >>
NZ dollar soars, approaching 87 US cts, on RBNZ hike track
Friday, 13 June 2014, 9:02 am | BusinessDesk
June 13 (BusinessDesk) - The New Zealand dollar soared to a five-week high and is edging toward 87 US cents, after the Reserve Bank yesterday raised the benchmark interest for a third time this year and signalled plans for further hikes were intact, ... More >>
While you were sleeping: US retail sales disappoint, oil up
Friday, 13 June 2014, 7:33 am | BusinessDesk
June 13 (BusinessDesk) – Wall Street declined as US retail sales grew less than expected while oil prices jumped amid concern that escalating violence in Iraq might threaten to destabilise the country and disrupt oil supplies. More >>
MARKET CLOSE: NZ shares rise as RBNZ hikes confirm growth
Thursday, 12 June 2014, 5:47 pm | BusinessDesk
June 12 (BusinessDesk) - New Zealand stocks rose after the Reserve Bank lifted the official cash rate, adding support to evidence for strong economic growth. Telecom, Air New Zealand and Trade Me Group paced the gain. More >>
NZ dollar jumps as RBNZ stays firm on future OCR hikes
Thursday, 12 June 2014, 5:40 pm | BusinessDesk
June 12 (BusinessDesk) - The New Zealand dollar surged against other currencies after the Reserve Bank governor Graeme Wheeler raised the official cash rate for a third time as expected and kept projected interest rate rises in line with his March projections. More >>
Wynyard shares climb on Tatts deal
Thursday, 12 June 2014, 3:05 pm | BusinessDesk
June 12 (BusinessDesk) - Shares in Wynyard Group rose 4.1 percent after the security software firm secured a three-year contract with Australian gambling business Tatts Group. More >>
Analysts pull back Nuplex profit estimates for next 3 years
Thursday, 12 June 2014, 2:10 pm | BusinessDesk
Analysts pull back Nuplex profit estimates for coming 3 years as increased rivalry crimps margins More >>
Nutricia NZ profit slides 97% following Fonterra scare
Thursday, 12 June 2014, 1:44 pm | BusinessDesk
June 12 (BusinessDesk) - Nutricia, the New Zealand infant formula unit of French food maker Danone, posted a 97 percent drop in profit in 2013, a year that saw sales disrupted by Fonterra Cooperative Group's false alarm botulism scare last August. More >>
Pyne Gould says fund put in receivership is `an old shell'
Thursday, 12 June 2014, 1:09 pm | BusinessDesk
Pyne Gould says Torchlight Fund No 1, put in receivership by Sydney-based Wilaci, is 'an old shell' More >>
