Radio New Zealand - Te Reo Irirangi o Aotearoa
12 February 2012 - 3:31 pm NZ time
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Business News
Stories published in the last 4 days
- Warning trade deal could hurt NZ-China relationship
- A business adviser in Beijing warns a free trade deal with the United States could hurt New Zealand's relationship with China.
- China's exports fall
- Latest figures from China show that the country's exports have fallen by 0.5% compared to 2011.
- Sharemarket ends Friday 21 points up
- The NZX50 closed up 21 points to 3348 on turnover of $123 million on Friday.
- Electronic card spending up
- Credit, debit and charge cardholders spent 1% more last month. For the first time in a year, spending increased across all groups.
- US move could affect KiwiSaver returns
- Efforts by American authorities to catch tax dodgers operating accounts in foreign countries could end up slicing tens of millions of dollars off KiwiSaver returns through increased fees.
- Italian banks downgraded
- International agency Standard and Poor's has lowered its credit rating for 34 Italian banks.
- PM pays tribute to Lloyd Morrison
- The Prime Minister has paid tribute to the prominent businessman Lloyd Morrison, who died on Friday after a prolonged battle with cancer.
- Job quest over for many in Canterbury
- ASB economist Jane Turner says thousands of people in Canterbury appear to have given up job hunting in the region.
- Profits at big banks return to pre-crisis levels
- Profits at the five biggest banks in New Zealand swelled by a quarter in the second half of 2011, returning earnings to pre-global financial crisis levels. And bad debts have fallen by $400 million compared to a year ago.
- Exploration permits to be offered on new blocks
- The Government is making 25 new blocks of land and seabed available for oil and gas exploration.
- 14,000 customers lost by Vodafone
- Vodafone lost 14,000 mobile customers in New Zealand in the final three months of 2011.
- New investors found for Xero
- Three founders of online accounting software company Xero have sold almost 2% of their shareholding to new investors.
- NZ insulated against Greek default says Finance Minister
- Finance Minister Bill English says New Zealand is reasonably well insulated against a default by Greece, and he's hopeful leaders will stabilise the euro before a major meltdown.
- More education needed on ultrafast broadband says Orcon
- Orcon chief executive Scott Bartlett believes better education about ultrafast broadband is needed.
- Further QE injection by Bank of England
- The Bank of England is to inject another £50 billion into the British economy, making a total of £325 billion in quantitative easing since 2009.
- ECB rate held
- The European Central Bank left its main interest rate unchanged at 1% on Thursday.
- Inflation up in China
- The rate of inflation in China unexpectedly rose in January as consumers spent more at New Year. Pork prices were the biggest contributor to the rise.
- Kodak to stop making digital cameras
- Eastman Kodak is to stop making digital cameras. It will also end production of video cameras and digital picture frames.
- Pepsi to cut jobs
- PepsiCo is set to cut 8700 jobs in 30 countries to save $US1.5 billion over three years.
- Rio profit well down
- Rio Tinto has reported a 59% fall in profits, largely due to the poor performance of its aluminium business, Alcan.
- US markets little changed on Greek deal
- Stocks on Wall Street are little changed, as initial enthusiasm fades over the Greek deal. European markets were up.
- Steel Tube's half year profit down on last year
- A subdued construction and manufacturing market has affected Steel Tube's half-year profit to 31 December.
- Budget surplus expected in 2014-15 says Finance Minister
- The Finance Minister says New Zealand will return to a budget surplus in 2014 - 2015, but it will be challenging.
- Solid Energy applies for consent to develop opencast mine
- Solid Energy is applying for consent to develop an opencast coal mine north of Westport.
- NZ market up
- The NZX50 closed up 10 points to 3325 on turnover of $109 million on Thursday.
- UFB value seen by business
- Businesses are expected to see the value in ultra-fast broadband, even if it costs a bit more. But most customers were not willing to pay more than $10 extra per month.
- Improved earnings for TelstraClear
- TelstraClear has reported improved earnings in the final six months of 2011. Operating expenses fell by 8%, but revenue fell 4% to $339 million.
- US agreement extended by healthcare company
- Fisher Paykel Healthcare has agreed to a three-year renewal of a long-standing agreement with CareFusion, giving it exclusive rights to distribute its products into the hospital market in the United States.
- News Corp quarterly profit up
- News Corporation has announced a jump in quarterly profit. The company says net profit totalled $A979 million in the three months to December, up 65% compared with the same period a year earlier.
- Tower director resignation causes board conflict
- Concerns have been raised about board conflict at the insurer and fund manager Tower Group after an independent director resigned on Wednesday.
- Boss of clothing retailer admits hard work ahead in Australia
- The boss of Hallenstein Glasson admits it will take a lot of hard work to get its Australian stores generating acceptable profits.
- Profit warning issued by theme park owner
- The owner of Auckland theme park Rainbows End has issued a profit warning, after bad weather and the Rugby World Cup kept visitors away.
- Shopping centre insurance claim settled
- Listed property investor NPT says it has received a full and final settlement of $18.05 million from its insurers for earthquake damage and business interruption at the Eastgate shopping centre in Christchurch.
- NZ investment in research and development low
- New Zealand investment in research and development is continuing to lag behind other nations. Spending on R&D was 1.31% in 2010.
- NZ dollar high
- The New Zealand dollar has reached a five-month high against the US dollar as risk-friendly investors expect Greece to get its second bailout package.
- Billionaire buys into timber company
- Australian timber company Gunns has signed an agreement with a New Zealand-born billionaire Richard Chandler in a deal that's expected to help it get the finance it needs to build a pulp mill in northern Tasmania.
- More jobs cut by Nokia
- Finnish mobile phone maker Nokia is axing 4000 more jobs to cut costs as it continues to struggle with sales of its smartphones.
- Profit down at BHP
- BHP Billiton has posted a drop in net profit for the first half of the financial year, blaming falling prices for commodities including iron ore, copper and coal.
- Nissan production up
- Nissan has reported a 3.6% rise in profits for the October - December quarter despite disruptions caused by floods in Thailand.
- Disney profit up
- Profits at Walt Disney have risen due to the rising popularity of its theme parks and earnings from its television channels. However, revenue in its film business fell.
- Greek deal awaited by markets
- Stocks on Wall Street fluctuated around break-even on Wednesday, as investors waited for Greece to accept tough reforms in exchange for a new bailout.
- NZ markets up
- The NZX50 closed up 10 points to 3325 on turnover of $109 million dollars on Wednesday.
- Toyota says recovery on track after Japanese tsunami
- Toyota, has increased its full-year profit forecast, saying its recovery is on track following the devastating Japanese tsunami, Thai floods and the strong yen.
- Sales lifted by clothing retailer
- Hallenstein Glasson has lifted its half year profit forecast by 25%, after strong sales over the Christmas and New Year period.
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