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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 1114]
Fitch affirms Fonterra AA- credit rating
Monday, 2 September 2013, 4:38 pm | BusinessDesk
Sept. 2 (BusinessDesk) - Fitch Ratings has affirmed Fonterra Cooperative Group’s credit rating, saying its dominance in export markets and fully-integrated business model underpin the dairy company. More >>
Asset sales vote could follow privatisations, says Key
Monday, 2 September 2013, 4:08 pm | BusinessDesk
Sept. 2 (BusinessDesk) - The citizens' initiated referendum on asset sales could occur after the government has finished its current round of partial privatisations, Prime Minister John Key said today. More >>
CORRECT: Ex-Rockforte director pleads guilty to fraud
Monday, 2 September 2013, 2:55 pm | BusinessDesk
Sept. 2 (BusinessDesk) – Colin Simpson, a former director of failed Gisborne-based lender Rockforte Finance, has pleaded guilty to nine fraud charges of the 34 laid by the Serious Fraud Office, leaving the two remaining defendants to stand trial ... More >>
Bathurst seeks capital as resource consents loom
Monday, 2 September 2013, 2:37 pm | BusinessDesk
Sept. 2 (BusinessDesk) - Bathurst Resources is seeking to raise as much as $20 million in one-off book building exercise that offers long-suffering shareholders a chance to gamble on a rising share price after the imminent granting of resource consents ... More >>
Asset sale referendum back on
Monday, 2 September 2013, 1:18 pm | BusinessDesk
Sept. 2 (BusinessDesk) - Opponents of partial privatisation have succeeded on the second try in amassing enough signatures to force a referendum on the government's asset sales programme. More >>
NZ Dollar Outlook: Volatility seen before US jobs
Monday, 2 September 2013, 12:38 pm | BusinessDesk
Sept. 2 (BusinessDesk) – The New Zealand dollar may be volatile ahead of a key US jobs report at the end of the week, preceded by a slew of Federal Reserve speeches and major central bank meetings to decide future policy. More >>
FNZ to hire at least 30 people in Wellington office
Monday, 2 September 2013, 12:31 pm | BusinessDesk
Sept. 2 (BusinessDesk) - FNZ, the investment wrap platform developer spun out of First NZ Capital in 2007, plans to hire at least 30 people in its Wellington office as it seeks to build a global footprint. More >>
MIDDAY UPDATE: Govt asset sale programme to go to referendum
Monday, 2 September 2013, 12:17 pm | BusinessDesk
Sept. 2 (BusinessDesk) – The government’s cornerstone policy plank to sell down its holdings in energy companies will go to the public after some 330,000 people signed a petition for a referendum on the issue. More >>
Telecom puts $60M price tag on new Auckland data centre
Monday, 2 September 2013, 11:59 am | BusinessDesk
Sept. 2 (BusinessDesk) - Telecom Corp, the country's biggest telecommunications company, said its new Takanini Data Centre will cost about $60 million to build and will be shared by its Gen-i and recently acquired Revera unit. More >>
NZ terms of trade improves in 2Q on dairy exports
Monday, 2 September 2013, 11:37 am | BusinessDesk
NZ terms of trade improves in 2Q on dairy exports, seen at 40-year high in 3Q More >>
NZ dollar gains after Chinese manufacturing data
Monday, 2 September 2013, 8:48 am | BusinessDesk
Sept. 2 (BusinessDesk) – The New Zealand dollar gained after better manufacturing data from China boosted investor confidence about growth in Asia’s largest economy and as prospects fade for imminent western military action in Syria. More >>
World Week Ahead: Focus on US jobs data
Monday, 2 September 2013, 6:50 am | BusinessDesk
Sept. 2 (BusinessDesk) – The latest US labour market data will take centre stage in the coming days, while central bank meetings in Europe, the UK and Japan and any developments regarding potential military action against Syria will play out in the ... More >>
PGG Wrightson sells Heartland stake for $11.3M to cut debt
Friday, 30 August 2013, 6:13 pm | BusinessDesk
Aug. 30 (BusinessDesk) – PGG Wrightson, the rural services company controlled by China’s Agria Corp, sold its stake in Heartland New Zealand for $11.3 million to reduce debt. More >>
MARKET CLOSE: NZ shares gain; Xero, GPG, Air NZ advance
Friday, 30 August 2013, 5:49 pm | BusinessDesk
Aug. 30 (BusinessDesk) – New Zealand shares rose as cloud-based accounting firm Xero reached a customer milestone, large volumes of Guinness Peat Group traded off-market and Air New Zealand continued to benefit from its improving profits. More >>
NZ dollar heads for 2.5% monthly fall
Friday, 30 August 2013, 5:14 pm | BusinessDesk
NZ dollar heads for 2.5% monthly fall as bevy of central bank meetings loom in September More >>
MONEY TALKS: Going Green for utu
Friday, 30 August 2013, 5:07 pm | BusinessDesk
Aug. 30 (BusinessDesk) – Unless you’re one of the financial market whiz-kid fraternity, chances are you didn’t notice the passing of the Financial Markets Conduct Act into law this week. More >>
China repair job under way with next week's Fonterra visit
Friday, 30 August 2013, 5:02 pm | BusinessDesk
Aug. 30 (BusinessDesk) – Fonterra Cooperative Group's repair job with Chinese customers and officials will begin in earnest next week as the cooperative's board heads to China with chief executive Theo Spierings. More >>
Sanford names Volker Kuntzsch as CEO, replacing Barratt
Friday, 30 August 2013, 4:44 pm | BusinessDesk
Aug. 30 (BusinessDesk) – Sanford named seafood industry veteran Volker Kuntzsch as chief executive, replacing Eric Barratt who is retiring after 15 years leading the New Zealand’s largest listed fishing company. More >>
Air NZ keeps balance sheet plump, holds back on dividends
Friday, 30 August 2013, 4:23 pm | BusinessDesk
Aug. 30 (BusinessDesk) - Air New Zealand opted to limit dividend payments in its latest year, even as it generated record operating cashflow, piled up cash on its balance sheet and pushed gearing below its target range as a buffer against fleet ... More >>
CORRECT: Gannon steps down as Goodman Fielder CFO
Friday, 30 August 2013, 3:22 pm | BusinessDesk
Aug. 30 (BusinessDesk) – Goodman Fielder chief financial officer Shane Gannon has resigned, after helping steer Australasia’s biggest food maker back to profit, returning to the building industry as CFO in an overhauled executive team at Mirvac ... More >>
