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Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 1007]
UPDATE: Goodman shares soar 23% on Wilmar, First Pacific bid
Monday, 28 April 2014, 11:34 am | BusinessDesk
April 28 (BusinessDesk) - Goodman Fielder stock jumped to a 2 ½-month high after the world’s biggest palm oil processor, Wilmar International, teamed up with Hong Kong-listed investor First Pacific Co to make an A$1.27 billion offer for the Australasian ... More >>
NZ Farming Systems sells Uruguay farm land for US$53.7M
Monday, 28 April 2014, 11:32 am | BusinessDesk
Olam’s NZ Farming Systems sells Uruguay farm land to local interests for US$53.7 million More >>
Workers to strike at Lyttelton Port as pay negotiations fail
Monday, 28 April 2014, 11:00 am | BusinessDesk
April 28 (BusinessDesk) – Workers at Christchurch’s ocean port plan to strike after pay negotiations between Lyttelton Port Co and the Rail and Maritime Transport Union fail. More >>
Wilmar, First Pacific make A$1.27B bid for Goodman Fielder
Monday, 28 April 2014, 10:13 am | BusinessDesk
April 28 (BusinessDesk) - Singapore-based Wilmar International and Hong Kong-listed investment firm First Pacific Co are seeking to takeover Goodman Fielder in a deal valuing Australasia’s biggest food ingredients maker at A$1.27 billion. More >>
NZ share trading delayed by ‘system issue’, NZX says
Monday, 28 April 2014, 10:11 am | BusinessDesk
April 28 (BusinessDesk) – Trading on the New Zealand stock exchange has been delayed by a “system issue”, market operator NZX said in a one-sentence statement. More >>
NZ dollar rises vs. Russian ruble as Ukrain tensions mount
Monday, 28 April 2014, 8:57 am | BusinessDesk
April 28 (BusinessDesk) – The New Zealand dollar gained against the Russian ruble amid escalating tensions between Western countries and Russia over Ukraine. More >>
World Week Ahead: Fed policymakers meet
Monday, 28 April 2014, 7:50 am | BusinessDesk
April 28 (BusinessDesk) – A US Federal Reserve meeting, a slew of economic data including the US government’s monthly jobs figures, and plenty of quarterly earnings this week should help investors decide whether equities near record highs have room ... More >>
Billion dollar Japanese investment as Hart sells down CHH
Saturday, 26 April 2014, 2:51 pm | BusinessDesk
April 26 (BusinessDesk) – One of the largest single Japanese investments in the New Zealand economy is occurring with the sale of Carter Holt Harvey’s pulp and paper and packaging businesses for $1.037 billion. More >>
MARKET CLOSE: NZ energy stocks rally on Shane Jones effect
Thursday, 24 April 2014, 5:36 pm | BusinessDesk
April 24 (BusinessDesk) – New Zealand stocks rose, energy stocks extended a rally for a second day as turmoil in the Labour Party fuelled speculation the incumbent National-led government will return for a third term. Meridian Energy, MightyRiverPower, ... More >>
NZ dollar gains as RBNZ lifts rates, sees faster growth
Thursday, 24 April 2014, 5:08 pm | BusinessDesk
April 24 (BusinessDesk) - The New Zealand dollar gained against other currencies after Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while lifting his estimate for economic growth in the March year to 3.5 percent. More >>
Deloitte says Ruataniwha assumptions "reasonable"
Thursday, 24 April 2014, 4:32 pm | BusinessDesk
April 24 (BusinessDesk) – A Deloitte review of the Hawke’s Bay Regional Council’s proposed $80 million investment in the $265 million Ruataniwha Water Storage Scheme is satisfied with the business plan, provided uptake by users is timely. More >>
UPDATE:Southern Cross Forest lures foreign, local interest
Thursday, 24 April 2014, 2:00 pm | BusinessDesk
April 24 (BusinessDesk) - Financially stricken wood processor Southern Cross Forest Products has attracted both local and international interest from potential buyers, and its receiver hopes to progress the sale next month. More >>
Southern Cross Forest receiver to close mill, exit Australia
Thursday, 24 April 2014, 11:54 am | BusinessDesk
April 24 (BusinessDesk) - The receiver for Southern Cross Forest Products plans to shut one of the failed wood processor’s sawmills and wind up the unprofitable Australian business as it continues to find a buyer for the business. More >>
Brownlee takes hard-hitting rebuild report on the chin
Thursday, 24 April 2014, 11:42 am | BusinessDesk
April 24 (BusinessDesk) – An in-depth survey of senior leaders in the Christchurch rebuild indicates growing impatience and serious weaknesses in the way major projects are being procured and managed. More >>
CORRECT: Chorus faces up to $10 mln earnings hit in 2014
Thursday, 24 April 2014, 10:55 am | BusinessDesk
CORRECT: Chorus faces up to $10 mln earnings hit in 2014 from latest regulator pricing decision More >>
FMA joins probe into interest rate swap sales to farmers
Thursday, 24 April 2014, 10:12 am | BusinessDesk
April 24 (BusinessDesk) – The Financial Markets Authority, New Zealand’s markets watchdog, is investigating whether the sales and marketing of interest rate swaps by major banks to rural customers may have breached financial markets laws. More >>
Chorus faces up to $10 mln earnings hit in 2014
Thursday, 24 April 2014, 10:08 am | BusinessDesk
Chorus faces up to $10 mln earnings hit in 2014 from latest regulator pricing decision More >>
Abano mulls rebel shareholder request for meeting
Thursday, 24 April 2014, 9:23 am | BusinessDesk
April 24 (BusinessDesk) – Abano Healthcare Group is mulling the extraordinary general meeting request from rebel shareholders Peter Hutson and James Reeves who want to dump Trevor Janes as chairman and refresh the board. More >>
Wheeler hikes OCR to 3% on inflationary pressures, eyes kiwi
Thursday, 24 April 2014, 9:15 am | BusinessDesk
April 24 (BusinessDesk) – Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace ... More >>
NZ dollar little changed before RBNZ interest rate decision
Thursday, 24 April 2014, 8:20 am | BusinessDesk
April 24 (BusinessDesk) – The New Zealand dollar was little changed ahead of the Reserve Bank decision on interest rates today as traders await clues to the pace of the tightening cycle. More >>
