Co-operative Bank names McLachlan as CEO, FY profits fall
Tue, 19 Jun 2012
By Hannah Lynch June 20 (BusinessDesk) - The Co-operative Bank, formerly known as PSIS, has appointed Bruce McLachlan as its new chief executive. The bank announced a fall in full-year profits. Mc...
Tax crackdown bridges revenue loss from partial privatisation: Dunne
Tue, 19 Jun 2012
By Paul McBeth June 20 (BusinessDesk) - The Inland Revenue Department's clampdown on tax avoidance and loopholes will bridge the gap left by the government's planned sell-down of its energy company h...
NZ current-account deficit widens to $2.8 bln in first quarter as trade balance weakens
Tue, 19 Jun 2012
June 20 (BusinessDesk) - New Zealand’s current account deficit widened in the first quarter, mainly reflecting a drop in the goods and services balance as dairy export prices and oil shipments fell a...
Pressure mounts on Japan as Canada joins TPP talks, Groser says
Tue, 19 Jun 2012
By Paul McBeth June 20 (BusinessDesk) - Japan will be keenly watching developments in Trans-Pacific Partnership after Canada followed Mexico's lead in accepting the offer to join the Asia Pacific blo...
NZ dollar hits 7-week high amid speculation Fed will add stimulus to US economy
Tue, 19 Jun 2012
By Hannah Lynch June 20 (BusinessDesk) - The New Zealand dollar rose to a seven-week high against the greenback amid speculation the Federal Reserve may announce fresh stimulus measures to boost the...
While you were sleeping: EU spurs Greeks to move fast
Tue, 19 Jun 2012
By Margreet Dietz June 20 (BusinessDesk) - Expectations that the US Federal Reserve will announce measures tomorrow to prop up the flagging expansion bolstered Wall Street. Also helping the mood wer...
Whole milk power gains in Fonterra’s GDT auction as overall price index slips
Tue, 19 Jun 2012
June 20 (BusinessDesk) - Whole milk powder rose in Fonterra’s latest GlobalDairyTrade auction, even as overall prices of dairy products slipped, keeping the price index at its highest level since Apr...
MARKET CLOSE: NZ shares rise, pushing NZX 50 to month high
Tue, 19 Jun 2012
June 19 (BusinessDesk) - New Zealand shares rose pushing the NZX 50 index to its highest level this month, as cloud-based accounting firm Xero benefited from its inclusion in the benchmark index whil...
NZ dollar gains after RBA says June rate cut 'finely balanced', Fed meeting looms
Tue, 19 Jun 2012
By Paul McBeth June 19 (BusinessDesk) - The New Zealand dollar rose after minutes from the Reserve Bank of Australia's last policy review showed its decision to cut rates was "finely balanced" and ah...
RBNZ backs inflation targeting, wants wider forecasting framework to assess national debt
Tue, 19 Jun 2012
By Paul McBeth June 19 (BusinessDesk) - The Reserve Bank backs inflation targeting as its primary goal, and wants a broader forecasting model to investigate what can lead to a disappointing economic...
Solid Energy has more-than fourfold increase in estimate for Taranaki coal seam gas
Tue, 19 Jun 2012
By Jonathan Underhill June 19 (BusinessDesk) - Solid Energy, the state-owned coal miner being prepared for partial sale, has announced a more-than fourfold increase in its contingent resources of coa...
Air NZ's new CEO Luxon sees profit in kiwis heading to the US
Tue, 19 Jun 2012
By Hannah Lynch June 19 (BusinessDesk) - Air New Zealand's new chief executive sees profit in kiwis heading to the US as the airliner targets a $110 million lift in earnings from its long-haul servic...