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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 988]
NZ dollar gains from 3-mth low as traders regain confidence
Thursday, 5 June 2014, 5:50 pm | BusinessDesk
Jun. 5 (BusinessDesk) - The New Zealand dollar climbed from a three-month low as traders recovered lost confidence in the local economy, and lowered their expectations for a downgrade to the Reserve Bank's interest rate track when it reviews monetary ... More >>
MARKET CLOSE: NZ shares rise, led by F&P Healthcare
Thursday, 5 June 2014, 5:49 pm | BusinessDesk
June 5 (BusinessDesk) - New Zealand stocks rose, led by Fisher & Paykel Healthcare as a weak currency improved the manufacturer's export earnings outlook. Property stocks paced the gain as investors mull the pace of interest rate hikes this year. More >>
Feltex defendants pour scorn on expert witnesses
Thursday, 5 June 2014, 3:50 pm | BusinessDesk
Jun. 5 (BusinessDesk) - Lawyers for directors in the Feltex Carpets shareholder lawsuit say the plaintiff has failed to draw a link between alleged misleading statements in the carpet maker's 2004 initial public offering prospectus and its eventual failure ... More >>
Hellaby board appoints Steve Smith as incoming chairman
Thursday, 5 June 2014, 3:35 pm | BusinessDesk
Jun. 5 (BusinessDesk) - Hellaby Holdings' board has appointed independent director Steve Smith to take over the chair when John Maasland retires at this year's annual meeting in October. More >>
Govt urged to cut costs with offshore cloud computing
Thursday, 5 June 2014, 3:12 pm | BusinessDesk
June 5 (BusinessDesk) - The government should lead the way to cheaper cloud computing services by using offshore providers rather than just New Zealand firms, the Productivity Commission says in its final report on improving productivity in the services industries. More >>
Cartel criminalisation risks competition, report says
Thursday, 5 June 2014, 3:11 pm | BusinessDesk
June 5 (BusinessDesk) - Legislation criminalising cartel behaviour carries sufficient risk of harming collaborations that could improve competition to mean it should be reviewed within two to four years of implementation and data collection should start ... More >>
Strategic Finance directors, auditors cut $22 mln deal
Thursday, 5 June 2014, 1:19 pm | BusinessDesk
June 5 (BusinessDesk) - The former directors and auditor of Strategic Finance have cut a $22 million settlement with the failed lender's receivers and the Financial Markets Authority, which will see about 10,000 investors get back 15 cents in the ... More >>
ASX-listed Cromwell buys 50% stake in Oyster for up to $7.5M
Thursday, 5 June 2014, 12:35 pm | BusinessDesk
ASX-listed Cromwell buys 50% stake in Oyster Group for up to $7.5 mln More >>
Former ESR boss Graham Smith named Federated Farmers CEO
Thursday, 5 June 2014, 11:58 am | BusinessDesk
June 5 (BusinessDesk) - Former Institute of Environmental Science & Research head Graham Smith has been appointed to take over as chief of rural lobby group Federated Farmers from next month. More >>
Pumpkin Patch sees lift in below-average financial ratios
Thursday, 5 June 2014, 11:12 am | BusinessDesk
Pumpkin Patch sees lift in below-average financial ratios after review, won’t seek more capital More >>
Auckland house sales drop in May, Barfoot & Thompson says
Thursday, 5 June 2014, 10:59 am | BusinessDesk
June 5 (BusinessDesk) - Auckland house sales dropped 14 percent in May from a year earlier as the market cooled ahead of winter, according to Barfoot & Thompson, the city's biggest realtor. More >>
Solid Energy prepares for more job cuts at Stockton
Thursday, 5 June 2014, 10:44 am | BusinessDesk
June 5 (BusinessDesk) - Continuing weakness in world prices for high grade coking coal appears likely to trigger a new round of job losses at Solid Energy's main open-cast coking coal mine, Stockton, bringing further bad news to the Westport community following ... More >>
Trustpower picks MightyRiverPower's metering service
Thursday, 5 June 2014, 9:53 am | BusinessDesk
June 5 (BusinessDesk) - MightyRiverPower's metering business Metrix will be Trustpower's preferred provider to supply its 225,000 customers with smart meters. More >>
NZX share trading snaps 20 months of growth in May
Thursday, 5 June 2014, 9:12 am | BusinessDesk
June 5 (BusinessDesk) - The volume of share trading snapped 20 months of growth in May, falling from the same month a year earlier when the government listed the first of its partially privatised power companies. More >>
NZ dollar touches fresh three-month low of 84 US cents
Thursday, 5 June 2014, 8:48 am | BusinessDesk
June 5 (BusinessDesk) - The New Zealand dollar touched a fresh three-month low of 84 US cents overnight as investors unwind bets for the currency's acceleration, and the downward trend is expected to continue. More >>
While you were sleeping: Services sector soothes
Thursday, 5 June 2014, 7:55 am | BusinessDesk
June 5 (BusinessDesk) – Wall Street advanced, pushing the Standard & Poor’s 500 Index to a record high, as the US services industry posted its highest reading in nine months. More >>
MARKET CLOSE: NZ shares fall; Xero drops on tech IPOs
Wednesday, 4 June 2014, 5:48 pm | BusinessDesk
MARKET CLOSE: NZ shares fall; Xero drops on tech IPOs; Fletcher at 4-month low More >>
NZ dollar drops to six-month low vs. Aust as growth speeds
Wednesday, 4 June 2014, 5:12 pm | BusinessDesk
NZ dollar drops to six-month low vs. Aust as growth accelerates across the Tasman More >>
Tainui buys out partner in Hamilton Riverview Hotel
Wednesday, 4 June 2014, 3:45 pm | BusinessDesk
June 4 (BusinessDesk) - Tainui Group Holdings, which manages the commercial interests of Waikato-Tainui Te Kauhanganui Inc, has bought international hotel chain Accor's 17 percent stake in Hamilton Riverview Hotel, making it the outright owner of two ... More >>
Postie Plus administrator finds foreign buyer
Wednesday, 4 June 2014, 2:54 pm | BusinessDesk
June 4 (BusinessDesk) - The administrators of Postie Plus has found a foreign buyer for the retail chain's assets and business, a day after their appointment. More >>
