The Latest Business headlines from Radio New Zealand News http://www.radionz.co.nz/news/news Radio New Zealand 60 A business adviser in Beijing warns a free trade deal with the United States could hurt New Zealand's relationship with China. Sun, 12 Feb 2012 09:18:48 +1300 http://www.radionz.co.nz/news/national/98186/warning-trade-deal-could-hurt-nz-china-relationship f14c8b4bcc7c1073a87831cb86d4dbf9405532cc Latest figures from China show that the country's exports have fallen by 0.5% compared to 2011. Fri, 10 Feb 2012 21:44:17 +1300 http://www.radionz.co.nz/news/business/98122/china's-exports-fall 9634c1719f07f8fcea6dafd8bcd3674932c4853b The NZX50 closed up 21 points to 3348 on turnover of $123 million on Friday. Fri, 10 Feb 2012 20:56:41 +1300 http://www.radionz.co.nz/news/business/98118/sharemarket-ends-friday-21-points-up bcc5ca16a97c37cfa716eb39e743c21136b6f0d9 Credit, debit and charge cardholders spent 1% more last month. For the first time in a year, spending increased across all groups. Fri, 10 Feb 2012 12:46:24 +1300 http://www.radionz.co.nz/news/business/98070/electronic-card-spending-up a361f3dc700c7a07dcd2986b247c567c0edc98cb 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. Sat, 11 Feb 2012 22:31:50 +1300 http://www.radionz.co.nz/news/national/98136/us-move-could-affect-kiwisaver-returns 78fb4e9ec11ff62d56003cc9b5fa858ec8e92951 International agency Standard and Poor's has lowered its credit rating for 34 Italian banks. Sat, 11 Feb 2012 17:52:15 +1300 http://www.radionz.co.nz/news/business/98158/italian-banks-downgraded db26a05be9278ab1329946ae25416227b8c75a6b The Prime Minister has paid tribute to the prominent businessman Lloyd Morrison, who died on Friday after a prolonged battle with cancer. Fri, 10 Feb 2012 20:33:14 +1300 http://www.radionz.co.nz/news/business/98048/pm-pays-tribute-to-lloyd-morrison 3e1efe2e8ec5a696286feb9c0940c9e7b97cc327 ASB economist Jane Turner says thousands of people in Canterbury appear to have given up job hunting in the region. Fri, 10 Feb 2012 12:02:27 +1300 http://www.radionz.co.nz/news/business/98033/job-quest-over-for-many-in-canterbury 8705616c543980bd197ceb9c931536be3b2e9d68 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. Fri, 10 Feb 2012 05:13:38 +1300 http://www.radionz.co.nz/news/business/98008/profits-at-big-banks-return-to-pre-crisis-levels f01f329ebe4f4991c66b383b5d95f123ef03782f The Government is making 25 new blocks of land and seabed available for oil and gas exploration. Fri, 10 Feb 2012 08:08:39 +1300 http://www.radionz.co.nz/news/business/98040/exploration-permits-to-be-offered-on-new-blocks 43ffd48135ae32668762c9ec122bf0ab4ec81c9f Vodafone lost 14,000 mobile customers in New Zealand in the final three months of 2011. Fri, 10 Feb 2012 12:46:24 +1300 http://www.radionz.co.nz/news/business/98081/14,000-customers-lost-by-vodafone 0b4e39695283769864cfa404b8671c63a893ffd1 Three founders of online accounting software company Xero have sold almost 2% of their shareholding to new investors. Fri, 10 Feb 2012 12:46:24 +1300 http://www.radionz.co.nz/news/business/98082/new-investors-found-for-xero 9b4e54aca252f467f70222f0f6fecb96767e968c 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. Fri, 10 Feb 2012 06:55:00 +1300 http://www.radionz.co.nz/news/business/98031/nz-insulated-against-greek-default-says-finance-minister 9b4205addfa5f79927a029a6934d19e621fc0b1c Orcon chief executive Scott Bartlett believes better education about ultrafast broadband is needed. Fri, 10 Feb 2012 07:18:25 +1300 http://www.radionz.co.nz/news/business/98035/more-education-needed-on-ultrafast-broadband-says-orcon c22133c6ee18e21e29a82f68a4d8d7c01ac6c293 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. Fri, 10 Feb 2012 06:11:08 +1300 http://www.radionz.co.nz/news/business/98021/further-qe-injection-by-bank-of-england c95cc1271b1752e7144de5404038731467685742 The European Central Bank left its main interest rate unchanged at 1% on Thursday. Fri, 10 Feb 2012 06:55:00 +1300 http://www.radionz.co.nz/news/business/98032/ecb-rate-held 30341b074e3baa8ed8a27dcfe3e9d8e05c5eb1ee 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. Fri, 10 Feb 2012 14:02:25 +1300 http://www.radionz.co.nz/news/business/98092/inflation-up-in-china b1e21e9a441653172346b10161b8992d97dc0101 Eastman Kodak is to stop making digital cameras. It will also end production of video cameras and digital picture frames. Fri, 10 Feb 2012 12:02:29 +1300 http://www.radionz.co.nz/news/business/98053/kodak-to-stop-making-digital-cameras 78177cf7f851e3190164b30f2ae35b2b44142b2e PepsiCo is set to cut 8700 jobs in 30 countries to save $US1.5 billion over three years. Fri, 10 Feb 2012 08:39:34 +1300 http://www.radionz.co.nz/news/business/98046/pepsi-to-cut-jobs 8a70da9b3a46e4bc829e85c3819dce4d7a95ca4e Rio Tinto has reported a 59% fall in profits, largely due to the poor performance of its aluminium business, Alcan. Fri, 10 Feb 2012 11:01:08 +1300 http://www.radionz.co.nz/news/business/98064/rio-profit-well-down d94a86484934f926ab5d1fc5f844e0282e835695 Stocks on Wall Street are little changed, as initial enthusiasm fades over the Greek deal. European markets were up. Fri, 10 Feb 2012 08:39:34 +1300 http://www.radionz.co.nz/news/business/98041/us-markets-little-changed-on-greek-deal 2703e90927f1830bdef74363cb9c1866f790441c A subdued construction and manufacturing market has affected Steel Tube's half-year profit to 31 December. Thu, 09 Feb 2012 20:05:52 +1300 http://www.radionz.co.nz/news/business/97986/steel-tube's-half-year-profit-down-on-last-year 1b6d988724e0a6d93ae665fecd44e7306b4b133b The Finance Minister says New Zealand will return to a budget surplus in 2014 - 2015, but it will be challenging. Thu, 09 Feb 2012 19:28:53 +1300 http://www.radionz.co.nz/news/business/97987/budget-surplus-expected-in-2014-15-says-finance-minister eb157a7148ff367807f9c46e7810337bbfe98005 Solid Energy is applying for consent to develop an opencast coal mine north of Westport. Fri, 10 Feb 2012 08:13:15 +1300 http://www.radionz.co.nz/news/business/97988/solid-energy-applies-for-consent-to-develop-opencast-mine 3381f114429823e933bb966a08cc2955acce0b77 The NZX50 closed up 10 points to 3325 on turnover of $109 million on Thursday. Fri, 10 Feb 2012 04:56:55 +1300 http://www.radionz.co.nz/news/business/97967/nz-market-up 558142a61cd659f170c436b862325a6b819f2c16 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. Thu, 09 Feb 2012 12:26:08 +1300 http://www.radionz.co.nz/news/business/97959/ufb-value-seen-by-business de48bc7888bd4343e597f4c4080691433f77d411 TelstraClear has reported improved earnings in the final six months of 2011. Operating expenses fell by 8%, but revenue fell 4% to $339 million. Thu, 09 Feb 2012 11:59:09 +1300 http://www.radionz.co.nz/news/business/97954/improved-earnings-for-telstraclear bd3cd1bce48b861492fac45e45911460922a1415 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. Thu, 09 Feb 2012 12:41:40 +1300 http://www.radionz.co.nz/news/business/97962/us-agreement-extended-by-healthcare-company 8d86b923fddceaa1da483167c13cf85c11a9bf80 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. Thu, 09 Feb 2012 13:35:00 +1300 http://www.radionz.co.nz/news/business/97969/news-corp-quarterly-profit-up ca42a15f5fe0f83e1e118ecb958e57af994c741d Concerns have been raised about board conflict at the insurer and fund manager Tower Group after an independent director resigned on Wednesday. Thu, 09 Feb 2012 07:05:16 +1300 http://www.radionz.co.nz/news/business/97914/tower-director-resignation-causes-board-conflict 457e0aa78ab76cba16753936aba96572ca8de8ab The boss of Hallenstein Glasson admits it will take a lot of hard work to get its Australian stores generating acceptable profits. Thu, 09 Feb 2012 07:05:16 +1300 http://www.radionz.co.nz/news/business/97915/boss-of-clothing-retailer-admits-hard-work-ahead-in-australia 7eb4f1c7cdb1110dc900930ad4aabf52659992cd The owner of Auckland theme park Rainbows End has issued a profit warning, after bad weather and the Rugby World Cup kept visitors away. Thu, 09 Feb 2012 07:05:16 +1300 http://www.radionz.co.nz/news/business/97916/profit-warning-issued-by-theme-park-owner 72346c90b5c80829546ad4f6aa8b220cd5337003 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. Thu, 09 Feb 2012 07:38:15 +1300 http://www.radionz.co.nz/news/business/97923/shopping-centre-insurance-claim-settled dbb02491f6abb6a27ba9864cdeddf11620bab84a New Zealand investment in research and development is continuing to lag behind other nations. Spending on R&D was 1.31% in 2010. Thu, 09 Feb 2012 07:05:16 +1300 http://www.radionz.co.nz/news/business/97917/nz-investment-in-research-and-development-low b3c78a23f9d335a08e06517c481196e248e7ff90 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. Thu, 09 Feb 2012 07:05:16 +1300 http://www.radionz.co.nz/news/business/97918/nz-dollar-high 7f635ca4bc4ea15af57896ff1fc35ad0b42d3b07 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. Thu, 09 Feb 2012 07:12:00 +1300 http://www.radionz.co.nz/news/business/97920/billionaire-buys-into-timber-company 06e351a4efe89e6e498889b9f323db6364573dc6 Finnish mobile phone maker Nokia is axing 4000 more jobs to cut costs as it continues to struggle with sales of its smartphones. Thu, 09 Feb 2012 10:00:08 +1300 http://www.radionz.co.nz/news/business/97939/more-jobs-cut-by-nokia 13aec72faadc9b7bb853efe83b6f7a097774a71c 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. Thu, 09 Feb 2012 07:05:16 +1300 http://www.radionz.co.nz/news/business/97919/profit-down-at-bhp f32d7571fd418f1d01f01067df419c9e976a62ef Nissan has reported a 3.6% rise in profits for the October - December quarter despite disruptions caused by floods in Thailand. Thu, 09 Feb 2012 11:45:36 +1300 http://www.radionz.co.nz/news/business/97946/nissan-production-up 2f9ad2d1b78f57bda076b09172bdf20c6dd85c20 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. Thu, 09 Feb 2012 11:45:37 +1300 http://www.radionz.co.nz/news/business/97947/disney-profit-up b0cd46ffbb82677380564980208e0b44ad6cbf5f 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. Thu, 09 Feb 2012 10:00:08 +1300 http://www.radionz.co.nz/news/business/97922/greek-deal-awaited-by-markets 1e23a047a1a277f3fed68c6895278361e00f8ee7 The NZX50 closed up 10 points to 3325 on turnover of $109 million dollars on Wednesday. Thu, 09 Feb 2012 04:26:18 +1300 http://www.radionz.co.nz/news/business/97861/nz-markets-up ab43cc57f9e39a4808f0ca52a2035c0c53dc81e7 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. Thu, 09 Feb 2012 04:26:18 +1300 http://www.radionz.co.nz/news/business/97875/toyota-says-recovery-on-track-after-japanese-tsunami bd9b5712d6059cf890e36620f98bb418265a53cc Hallenstein Glasson has lifted its half year profit forecast by 25%, after strong sales over the Christmas and New Year period. Wed, 08 Feb 2012 21:14:50 +1300 http://www.radionz.co.nz/news/business/97832/sales-lifted-by-clothing-retailer d27357befa9be4059fbe9cb04e32f0b03d90293e