Facebook users to 'spot' friends

Facebook users to 'spot' friends

US Facebook users will soon be able to see which of their friends are in close proximity using a new feature the company is launching. Nearby Friends is an optional tool, and will only be available to people who choose to turn it on. The feature uses a smartphone's GPS system to tell a person's Facebook friends they are nearby - provided they have the feature turned on. Facebook said the Nearby…

  • From the Farm: Ruataniwha a mixed bag BusinessDesk - 22 hours ago

    Professor Angus McIntosh mourns the impact the Ruataniwha irrigation dam will have on New Zealand’s highly threatened native fish fauna as a “serious further blow.”

  • Economists strain to see rebalancing AAP - Thu, Apr 17, 2014 8:39 PM NZST

    Economists continued their efforts this week to identify signs that the economy was weaning itself off the mining investment boom. "The domestic economy is gradually making the transition away from being mainly driven by resources investment," Commonwealth Bank economists Michael Workman and Diana Mousina said in a report, echoing the RBA's sentiment. Through 2013 the economy's output of goods and services, measured by gross domestic product, grew by 2.8 per cent, a bit below what's needed to bring unemployment down over time, with consumer price inflation at 2.7 per cent. "We believe that in coming months it will be clearer that real GDP growth will be near three per cent in 2014, inflation above three per cent and the unemployment rate past its peak in this cycle," the Commonwealth Bank economists said.

  • Flight Centre appeals $11m fine AAP - Thu, Apr 17, 2014 7:55 PM NZST
    Flight Centre appeals $11m fine

    Travel agency Flight Centre has appealed an $11 million fine for anti-competitive behaviour. Federal Court judge John Logan imposed the fine in March after the court ruled in December that Flight Centre had threatened to stop selling flights on several airlines in order to offer the lowest fares. In a case brought by the Australian Competition and Consumer Commission, Flight Centre was found to have induced Singapore Airlines, Malaysia Airlines and Emirates to stop offering international airfares that were lower than fares offered by the travel agency. The court found Flight Centre had broken the law on five occasions between 2005 and 2009.

  • IBM posts lower 1Q earnings, revenue AAP - Thu, Apr 17, 2014 7:37 PM NZST
    IBM posts lower 1Q earnings, revenue

    IBM says its first-quarter earnings have fallen because of a large charge related to reorganising its work force. Revenue has fallen amid an ongoing decline in its hardware business. IBM Corp on Wednesday ...

  • $A loses momentum ahead of Easter break AAP - Thu, Apr 17, 2014 7:37 PM NZST

    The Australian dollar has drifted lower as a boost from speculation of stimulus measures in China wore off, while activity was low ahead of the Easter holiday. The Australian dollar started the day higher following media reports from China about measures to support growth there, Westpac senior currency strategist Sean Callow said. "That seemed to be the reason we rallied to 93.91 US cents," Mr Callow said. Mr Callow said it would be a quiet week ahead for the Australian dollar until Wednesday when consumer price index figures are released by the Australian Bureau of Statistics.

  • Packer, Murdoch stump up $40m for One.Tel AAP - Thu, Apr 17, 2014 7:35 PM NZST

    James Packer and Lachlan Murdoch have paid $40 million to settle a long running dispute with creditors of the failed telco One.Tel. One.Tel liquidator Stephen Parbery said entities associated with Mr Murdoch and Mr Packer had resolved all litigation arising from the collapse of the dot-com company in May 2001. As part of the settlement agreement, Consolidated Press Holdings will pay $14.93 million, Crown Resorts will pay $11.77 million and News Ltd will pay $13.3 million to One.Tel. "Resolution was successfully reached following a confidential and informal process," Mr Parbery said in a statement.

  • Third straight day of gains on market AAP - Thu, Apr 17, 2014 7:24 PM NZST

    The share market heads into the Easter break with three consecutive days of gains and one per cent off a post-GFC high. After a heavy fall to start the week, the market rebounded as positive earnings reports from US companies and strong US industrial production numbers boosted global sentiment. CMC Markets chief market strategist Michael McCarthy said the "circuit breaker" was a strong profit performance and outlook from IT company Intel earlier in the week, which had slowed the sell-off of tech stocks. Rival Wesfarmers was only up in line with the overall market, by 25 cents, or 0.6 per cent, to $42.98.

  • Santos LNG projects nearly complete AAP - Thu, Apr 17, 2014 7:13 PM NZST

    Australia's biggest domestic gas producer Santos is likely to be exporting more than it supplies for local use by 2015. The company's two massive liquefied natural gas projects in Queensland and Papua New Guinea, built to produce higher priced exports, are on track to be operating within the next year. The good news about its growth projects and prospects overshadowed a flat first quarter production and sales performance that missed estimates. Chief executive David Knox said on Thursday the Santos-operated $US18.5 billion Gorgon coal seam gas project (GNLG) was 80 per cent complete - up from 75 per cent in February - and on track for first LNG in 2015.

  • Aust bonds rise ahead of Easter weekend AAP - Thu, Apr 17, 2014 6:52 PM NZST

    Australian bond futures prices are higher as investors square their positions ahead of the Easter long weekend. It was a strong day for the Australian bond market, despite a rise in equity markets, UBS interest rate strategist Matthew Johnson said. "The stock market had a good open and a firm day and normally, if you have a good day for equities, you expect bond prices to go down but we haven't seen that," Mr Johnson said. At 1630 AEST on Thursday, the June 2014 10-year bond futures contract was trading at 96.040 (implying a yield of 3.960 per cent), up from 96.015 (3.985 per cent) on Wednesday.

  • Stocks to watch at close on Thursday AAP - Thu, Apr 17, 2014 6:27 PM NZST

    Stocks to watch on the Australian stock exchange at the close on Thursday: API - AUSTRALIAN PHARMACEUTICAL INDUSTRIES - steady at 56.5 cents Australian Pharmaceutical Industries is writing down the value ...

  • Solid beginnings for Genesis Energy Newstalk ZB - Thu, Apr 17, 2014 6:26 PM NZST

    Shares in Genesis Energy have closed at $1.81 after the power company was listed on the NZX today.

  • Govt appoints banks for Medibank sale AAP - Thu, Apr 17, 2014 5:47 PM NZST
    Govt appoints banks for Medibank sale

    The federal government has appointed three banks to manage the sale of health insurer Medibank Private. After receiving 11 bids through a tender process, the government says the joint lead managers will be Deutsche Bank, Goldman Sachs and Macquarie Capital. Finance Minister Mathias Cormann said on Thursday that each bank brings a substantial mix of experience in Australian and global capital markets, privatisations, equity offers and the ability to project manage large capital market transactions. The precise timing and structure of the Medibank Private sale has yet to be determined, although it will be in the 2014/15 financial year.

  • MARKET CLOSE NZ shares rise as Genesis debut sparks … BusinessDesk - Thu, Apr 17, 2014 5:36 PM NZST

    New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains.

  • Landmark Supreme Court decision protects ‘outstanding … BusinessDesk - Thu, Apr 17, 2014 5:19 PM NZST

    The Supreme Court has upheld resource consents for three salmon farms to be developed in the Marlborough Sounds by the King Salmon company, but in an important win for the protection of "outstanding landscapes", it has ruled against a fourth site. The decision gives a major victory to the Environmental Defence Society, which took its appeal against the resource consent granted for a salmon farm at Paparua, Port Gore, because it believed the decision had failed to uphold important principles in the Coastal Policy Statement, which has legal force under the Resource Management Act. "This is an incredibly important decision," said EDS coastal policy expert Raewyn Peart. "I've been working on the RMA since it came into force in 1991 and this is the first time this issue has gone to the Supreme Court.

  • NZ dollar heads for 0.8 percent fall in short week … BusinessDesk - Thu, Apr 17, 2014 5:02 PM NZST

    The New Zealand dollar is heading for a 0.8 percent fall in a shortened week ahead of the Reserve Bank's rate review next Thursday. The kiwi dropped to 86.16 US cents at 5pm in Wellington from 86.86 cents on Friday in New York, and from 86.27 cents at 8am and 85.87 cents yesterday. A BusinessDesk survey of 10 traders and strategists on Monday predicted the kiwi would trade between 85.30 US cents and 87.80 cents in the short week. Four predicted the kiwi would fall this week, while one expected it to gain and five saw it largely unchanged.

New Zealand Markets

Company Finances

  • Chipotle hiking prices as it draws more customers Associated Press - Fri, Apr 18, 2014 4:40 AM NZST
    Chipotle hiking prices as it draws more customers

    Chipotle is feeling confident that customers are willing to pay more for its burritos, bowls and tacos. The Mexican food chain said Thursday that it would raise prices in the "mid-single digits" ...

  • Jones, Godard, Cronenberg in competition at Cannes Associated Press - Fri, Apr 18, 2014 4:36 AM NZST
    Jones, Godard, Cronenberg in competition at Cannes

    David Cronenberg deconstructs Hollywood, Tommy Lee Jones goes Western and reclusive New Wave legend Jean-Luc Godard returns in 3-D in films competing at next month's Cannes Film Festival. Organizers of ...

  • Make a Positive Impression on the World, and Make Money Doing It Entrepreneur - Fri, Apr 18, 2014 4:30 AM NZST
    Make a Positive Impression on the World, and Make Money Doing It

    The mind behind the UK's best-selling single of all time teaches us that doing good can be profitable, as long as you're willing.

  • Business-Savvy Teens Tap Dynamic New Collector's Market: Designer Sneakers Entrepreneur - Fri, Apr 18, 2014 3:45 AM NZST
    Business-Savvy Teens Tap Dynamic New Collector's Market: Designer Sneakers

    Much-coveted shoes are being bartered and sold by high schoolers at sneaker conventions across the country at eye-opening prices, The New York Times reports.

  • Chipotle sales surge as it draws more customers Associated Press - Fri, Apr 18, 2014 3:00 AM NZST
    Chipotle sales surge as it draws more customers

    Mexican food chain Chipotle reported a higher quarterly profit Thursday as more customers flocked to its restaurants for burritos, bowls and tacos. The Denver-based chain's popularity has kept growing ...

  • PepsiCo's profit rises on snack sales, cost cuts Associated Press - Fri, Apr 18, 2014 1:32 AM NZST
    PepsiCo's profit rises on snack sales, cost cuts

    PepsiCo reported a stronger-than-expected first-quarter profit as the company slashed costs and sold more snacks around the world. The company, which makes Frito-Lay, Gatorade, Mountain Dew and Tropicana, ...

  • Weak Barbie sales weigh on Mattel 1Q Associated Press - Thu, Apr 17, 2014 11:51 PM NZST
    Weak Barbie sales weigh on Mattel 1Q

    Toy maker Mattel says weak sales of Barbie and markdowns to clear out excess inventory left over from a sluggish holiday season led to an unexpected first-quarter loss. Its shares fell almost 5 percent ...

  • PepsiCo 1Q jumps on snack sales, cost cuts Associated Press - Thu, Apr 17, 2014 11:32 PM NZST
    PepsiCo 1Q jumps on snack sales, cost cuts

    PepsiCo reported a stronger-than-expected first-quarter profit as the company slashed costs and sold more snacks around the world. The company, which makes Frito-Lay, Gatorade, Mountain Dew and Tropicana, ...

  • Chinese auto brands limp into Beijing show Associated Press - Thu, Apr 17, 2014 6:20 PM NZST
    Chinese auto brands limp into Beijing show

    China's automakers are the underdogs heading into next week's Beijing auto show, where foreign and domestic brands will jostle for attention in a market that is increasingly difficult for homegrown models. ...

  • Restaurant Job Growth Rebounds in March (Infographic) Entrepreneur - Thu, Apr 17, 2014 5:00 AM NZST
    Restaurant Job Growth Rebounds in March (Infographic)

    After a grim February, restaurants once again ruled as the largest job creators in the franchise sector.