The Latest Business headlines from Radio New Zealand News http://www.radionz.co.nz/news/news Radio New Zealand 60 The head of Spain's fourth-largest bank, Bankia, has promised more transparency, a day after announcing huge losses and asking for a bailout. Sun, 27 May 2012 16:33:02 +1200 http://www.radionz.co.nz/news/business/106822/loss-making-spanish-bank-promises-transparency 9ef6aff5faa0c05b71019ae190ab78842d46b039 Japan and China are expected to start direct trading of their currencies as early as June as part of efforts to boost bilateral trade and investment, reports say. Sun, 27 May 2012 10:53:33 +1200 http://www.radionz.co.nz/news/business/106810/japan-and-china-to-start-direct-currency-trading-reports 960ff1bea9ff4e8ff6d4e6acaf6ba100699d1e82 The European Union has filed a suit at the World Trade Organisation against Argentina's import restrictions. Sun, 27 May 2012 14:10:53 +1200 http://www.radionz.co.nz/news/world/106821/eu-takes-trade-row-with-argentina-to-wto 3d053acfc50794f3266b682bf0524cf1dfdd961c Fisher & Paykel Healthcare's full year profit has jumped 22%, thanks to cost cutting and strong demand for its products. Fri, 25 May 2012 20:12:53 +1200 http://www.radionz.co.nz/news/business/106725/fisher-and-paykel-healthcare-full-year-profit-jumps-22-percent 18d4abf084fbcff9751c9f83f08147904dd4e7a5 Tower's half year profit has jumped by more than 80%, as it recovers from the costs associated with the Canterbury earthquakes and improves revenue growth. Fri, 25 May 2012 20:24:14 +1200 http://www.radionz.co.nz/news/business/106726/tower's-half-year-profit-jumps-by-more-than-80-percent 35ab87df49031857a3ac0b7ec5830b8147c201cb Kiwifruit marketer Zespri has announced a lift in total payments to growers for the past season on the back of a record crop of 116 million trays. Fri, 25 May 2012 13:27:30 +1200 http://www.radionz.co.nz/news/rural/106729/zespri-profit-triples,-payments-to-growers-rise 6dd35d27fc858498c7f0ce49ddbcc4984e275a3b Credit rating agency Moody's Investors Services says the Government's plans to reduce debt, and the deficit, support its AAA rating. Fri, 25 May 2012 20:35:30 +1200 http://www.radionz.co.nz/news/business/106754/moody's-says-budget-supports-rating e7c3c097dd2efa1e029432d345db513d081c5c28 Some of Guinness Peat Group's largest institutional investors are disappointed Sir Ron Brierley has been re-elected to the company's board. Fri, 25 May 2012 11:53:28 +1200 http://www.radionz.co.nz/news/business/106714/investors-disappointed-at-brierley's-gpg-board-re-election 7fe94eddaec26924d58e7f4a0e265fb2a67ff0eb The listed online accounting software firm, Xero, is soldiering ahead with its expansion plans after doubling sales to $19 million in the year to March. Fri, 25 May 2012 13:27:30 +1200 http://www.radionz.co.nz/news/business/106727/xero-moves-ahead-with-expansion-after-doubling-sales f30555314f6e362fcf0e556cba5c7ae47395f858 The University of Canterbury is projecting a worse-than-expected loss, but is reassuring bond holders their payments won't be affected. Fri, 25 May 2012 13:27:30 +1200 http://www.radionz.co.nz/news/business/106728/canterbury-university-loss-worse-than-expected f0911ef7b0de4ec87cff5c99f52bcd48b4bf6bf9 Concerns about the global economy have increased after a survey of factory output in China that points to a gathering slowdown in the world's second largest economy. Fri, 25 May 2012 13:52:01 +1200 http://www.radionz.co.nz/news/business/106733/chinese-manufacturing-declines-in-may c6cd32088f41662c6167a8fed5d2a3742f567904 The benchmark NZX50 index fell 10 points, to close at 3486 on turnover of $83 million on Friday. Fri, 25 May 2012 20:35:30 +1200 http://www.radionz.co.nz/news/business/106755/nz-market-creeps-downward b7c4133176fa9fe32064f5fe1b1c1db13e01e751 Guinness Peat Group founder Sir Ron Brierley narrowly held on to his directorship of the company on Thursday. The Shareholders Association had urged investors to oust him, believing he is "living on past glories". Thu, 24 May 2012 20:31:35 +1200 http://www.radionz.co.nz/news/business/106631/brierley-retains-gpg-directorship ba1dee2fa31ab83e4089612faed2a6c47b3ec13b Profit for Fisher & Paykel Appliances fell by 45.1% to $18.4 million in the year to the end of March as consumers remained cautious about spending. Fri, 25 May 2012 11:53:28 +1200 http://www.radionz.co.nz/news/business/106626/fisher-and-paykel's-profit-almost-halves 84379a847c0347078e929c1c80dd7d17af1208c3 The benchmark NZX50 index fell 14 points, to close at 3496 on turnover of $75 million on Thursday. Thu, 24 May 2012 18:05:35 +1200 http://www.radionz.co.nz/news/business/106638/nz-market-edges-down 5c7a9e9dc53bd238d56a7a20326d80d349430a31 New Zealand reported a smaller than expected monthly trade surplus of $355 million in April. The annual balance fell back into deficit, to $541 million. Thu, 24 May 2012 12:52:39 +1200 http://www.radionz.co.nz/news/business/106630/monthly-trade-surplus fc2f0d319e7db36e16ed75be94ac8fe1d1b29848 Chorus is confident it can overcome high early costs associated with rolling out a high speed fibre network. Thu, 24 May 2012 21:36:03 +1200 http://www.radionz.co.nz/news/business/106593/high-early-costs-for-ultra-fast-broadband-rollout 34b24ff4f19cf74967515f68ca5a0bfb17c1758a DNZ Property Fund expects the value of its portfolio to continue to climb, particularly in Auckland. Thu, 24 May 2012 21:36:03 +1200 http://www.radionz.co.nz/news/business/106618/property-investor-expects-portfolio-value-to-climb 380425ac00f981d62e913c5d36b4130dcb72d4e5 Rich deposits of copper have been detected by an aerial survey in Northland. Thu, 24 May 2012 17:06:13 +1200 http://www.radionz.co.nz/news/national/106632/copper-deposits-detected-in-northland 50399e7135fc6219703ecc18ee04db0c2e06ff0a Stocks on Wall St pared heavy losses on Wednesday, with both the Nasdaq and the S&P 500 turning positive in a late reversal. European markets were well down. Thu, 24 May 2012 21:36:03 +1200 http://www.radionz.co.nz/news/business/106610/offshore-stocks-down bad40e2eb5205673f73ca8dce1b0c00902725889 Energy Mad is to supply energy-efficient lightbulbs to the Walgreen store chain in the United States. Thu, 24 May 2012 21:36:03 +1200 http://www.radionz.co.nz/news/business/106633/energy-mad-to-supply-bulbs-to-us-chain bb50cf7e6fb4a587a31a1fb4eb1aa683ffd8acd3 Hewlett-Packard, the world's largest maker of personal computers, is to cut 27,000 jobs, about 8% of its workforce, by the end of 2014. Thu, 24 May 2012 21:36:03 +1200 http://www.radionz.co.nz/news/business/106621/job-cuts-at-hp 1516c7614b3cc179e582d4ccb5463d59ba5dc873 The Indian rupee continued a downward slide on Wednesday to 55.82 rupees against the US dollar, from 55.39 on Tuesday. It has fallen by almost 26% since August last year. Thu, 24 May 2012 10:26:49 +1200 http://www.radionz.co.nz/news/business/106622/rupee-still-sliding ab6aeba43717c6ae9aae698178c79308ea62e4ed Fashion retailer Burberry has reported 24% growth and pre-tax profits of £366 million as it continues to expand around the world. Thu, 24 May 2012 09:28:49 +1200 http://www.radionz.co.nz/news/business/106619/burberry-still-much-in-fashion 8091fedf87ca9f560aa40de7b4e1e08ffd91b224 Facebook, its founder Mark Zuckerberg, and the banks leading its flotation are being sued by disgruntled shareholders. Thu, 24 May 2012 08:46:22 +1200 http://www.radionz.co.nz/news/business/106584/facebook-and-banks-face-lawsuit 01f685dbe5786878b24a0831f7900a636cdcfd42 Eurozone officials have told member countries to prepare contingency plans in case Greece decides to quit the bloc. Thu, 24 May 2012 21:36:03 +1200 http://www.radionz.co.nz/news/business/106567/eurozone-members-told-to-prepare-for-greek-exit ec3f781a1935a8fc236ef4dd81194060ac67fd6c An Indian technology company has offered to buy Retail Information Systems, a subsidiary of RIS Group. USG Tech Solutions wants to buy 100% of the shares. Thu, 24 May 2012 06:49:35 +1200 http://www.radionz.co.nz/news/business/106594/bid-by-indian-company-for-ris-subsidiary 4d7b6ffa9df0d7e857e0e573a8ce532377a62a0d Solid Energy, one of the energy companies the Government intends to partially sell, warns it faces significant business challenges. Wed, 23 May 2012 23:28:30 +1200 http://www.radionz.co.nz/news/political/106499/significant-challenges-facing-state-coal-company 4c82ce3233087ab01d5610560eed17c508efbc66 Comvita has reported a record full year profit, as sales picked up in its key markets. Revenue rose 17% to almost $96 million. Wed, 23 May 2012 21:15:40 +1200 http://www.radionz.co.nz/news/business/106531/record-profit-reported-by-health-and-beauty-company 98b6838f189165181eb57516a18fa8f05bba7cde The NZX50 index fell 20 points, or 0.6%, to close at 3510 on turnover of $84 million on Wednesday. Thu, 24 May 2012 05:23:22 +1200 http://www.radionz.co.nz/news/business/106544/nz-market-down-on-wednesday 60d708f7387997767df047de11710e3f637fd301