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BusinessDesk
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 1100]
Dairy prices rise 2.4% in latest GDT sale, volumes stabilise
Wednesday, 2 October 2013, 7:21 am | BusinessDesk
Oct. 2 (BusinessDesk) - Prices of dairy products rose in the latest GlobalDairyTrade auction, paced by whole and skim milk powder, the biggest products by volume, while overall volumes stabilised. More >>
MARKET CLOSE: NZ shares yawn as US shutdown in focus
Tuesday, 1 October 2013, 6:03 pm | BusinessDesk
Oct. 1 (BusinessDesk) – The New Zealand share market mirrored mixed fortunes across Asian markets as traders watched for the deadline to pass for resolution of the US budget impasse. More >>
NZ dollar makes big gains as US federal shutdown begins
Tuesday, 1 October 2013, 6:02 pm | BusinessDesk
Oct. 1 (BusinessDesk) – The New Zealand dollar held its gains against the greenback on speculation a prolonged US government shutdown and an more weighty debate about the debt ceiling this month will sap demand for US dollars. More >>
Diplomat, former SAS man Martyn Dunne to head MPI
Tuesday, 1 October 2013, 2:02 pm | BusinessDesk
Oct 1 (BusinessDesk) – Martyn Dunne, New Zealand’s High Commissioner to Australia and a former head of the Customs Service and senior military officer, has been named head of the Ministry for Primary Industries. More >>
Second Rockforte Finance director pleads guilty
Tuesday, 1 October 2013, 12:57 pm | BusinessDesk
Oct. 1 (BusinessDesk) – A second former director of Gisborne-based Rockforte Finance has pleaded guilty to Crimes Act charges laid by the Serious Fraud Office, while a third awaits trial. More >>
UPDATED: Harbour Asset, AMP Capital emerge as Tower holders
Tuesday, 1 October 2013, 12:53 pm | BusinessDesk
Oct. 1 (BusinessDesk) – Harbour Asset Management and AMP Capital Investors (New Zealand) have emerged as a substantial security holder in Tower following yesterday’s placement to sell Guinness Peat Group’s stake in the general insurer. More >>
MIDDAY UPDATE: Crown wrings $75M from Solid Energy’s lenders
Tuesday, 1 October 2013, 12:15 pm | BusinessDesk
Oct 1 (BusinessDesk) - Banks that lent unsustainable amounts of debt to state-owned coal miner Solid Energy are taking a $75 million "hair-cut", dressed up as an issue of redeemable preference shares that may never be repaid. More >>
Banks take $75M quasi-haircut on Solid Energy debt
Tuesday, 1 October 2013, 11:58 am | BusinessDesk
Oct 1 (BusinessDesk) – Banks that lent unsustainable amounts of debt to state-owned coal miner Solid Energy are taking a $75 million “hair-cut”, dressed up as an issue of redeemable preference shares that may never be repaid. More >>
House listings stall, too soon to blame LVRs
Tuesday, 1 October 2013, 11:00 am | BusinessDesk
Oct 1 (BusinessDesk) – New listings of houses for sale stalled in September, according to online advertiser realestate.co.nz, but the usual spring surge is still expected in October and November, despite new lending restrictions coming into force today. More >>
Harbour Asset emerges as Tower holder after GPG sells stake
Tuesday, 1 October 2013, 9:54 am | BusinessDesk
Oct. 1 (BusinessDesk) – Harbour Asset Management, the Wellington-based boutique fund manager, has emerged as a substantial security holder in Tower following yesterday’s placement to sell Guinness Peat Group’s stake in the general insurer. More >>
Hellaby buys Sydney-based Ryde Batteries for about A$12 mln
Tuesday, 1 October 2013, 9:53 am | BusinessDesk
Hellaby buys Sydney-based Ryde Batteries for about A$12 mln to boost largest unit More >>
NZ dollar strongest performer against greenback
Tuesday, 1 October 2013, 8:58 am | BusinessDesk
Oct. 1 (BusinessDesk) – The New Zealand dollar jumped against the greenback overnight as investors weigh the imminent prospects of a partial US government shutdown later today should Congress fail to reach agreement on funding. More >>
The heart of the matter is design by intention
Tuesday, 1 October 2013, 8:51 am | BusinessDesk
Seeing as on the design side of things I’m more in the ‘I know when it works, I just don’t know how to do it properly’ camp…here’s a plug to the UX Design Day. More >>
While you were sleeping: Deal or no deal?
Tuesday, 1 October 2013, 8:44 am | BusinessDesk
Oct 1 (BusinessDesk) – Stocks fell on both sides of the Atlantic, while US Treasuries gained as the midnight deadline to reach an agreement on continuing to fund the US government approached with no deal in sight. More >>
Kiwi may weaken in run-up to Christmas, in exporter reprieve
Tuesday, 1 October 2013, 7:56 am | BusinessDesk
Oct. 1 (BusinessDesk) – The New Zealand dollar may decline toward the end of the year, helping exporters such as fishing company Sanford who see the value of their overseas sales eroded when the currency rises. More >>
CORRECT: MARKET CLOSE: NZ shares join selloff
Monday, 30 September 2013, 6:26 pm | BusinessDesk
Sept. 30 (BusinessDesk) – New Zealand shares fell, paced by Telecom and MightyRiverPower, ahead of a possible US budget stalemate and as the government scheduled a referendum on state asset sales for after the selldown of Meridian Energy that went on sale ... More >>
MARKET CLOSE: NZ shares join selloff on US budget stalemate
Monday, 30 September 2013, 6:08 pm | BusinessDesk
Sept. 30 (BusinessDesk) – New Zealand shares fell, paced by Telecom and MightyRiverPower, ahead of a possible US budget stalemate and as the government scheduled a moratorium on state asset sales for after the selldown of Meridian Energy that went on sale ... More >>
Samsung makes NZ investment, in world-first wireless tech
Monday, 30 September 2013, 5:35 pm | BusinessDesk
Sept 30 (BusinessDesk) – Global telecommunications giant Samsung of Korea has taken a stake in Kiwi wireless power system innovator PowerbyProxi, investing $4 million in a deal to start licencing the firm’s consumer electronics and home appliance ... More >>
NZ dollar falls in face of looming US budget standoff
Monday, 30 September 2013, 5:31 pm | BusinessDesk
Sept. 30 (BusinessDesk) – The New Zealand dollar fell on concern a looming US budget standoff poses a risk to US growth and global risk appetite. The kiwi pared its decline after a survey showed local business confidence at a five-year high. More >>
Appeal Court rejects Hanover Group's insurance policy claim
Monday, 30 September 2013, 2:36 pm | BusinessDesk
Sept. 30 (BusinessDesk) – Hanover Group Holdings has lost its appeal against AIG Insurance New Zealand over what it had thought was extensive coverage of directors’ and officers’ liability for the failed finance company’s prospectuses. More >>
