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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 1182]
MIDDAY UPDATE: NZX gets system running in time for lunch
Tuesday, 23 April 2013, 12:12 pm | BusinessDesk
April 23 (BusinessDesk) NZX, the stock exchange operator, has managed to get its IT system back up and running at midday, meaning retail investors have the same access to market announcements and pricing information that professional investment houses ... More >>
NZX in overdrive to fix IT glitch
Tuesday, 23 April 2013, 11:12 am | BusinessDesk
April 23 (BusinessDesk) - NZX, the stock exchange operator, is urgently working to fix a technical glitch that's left retail investors without market information, though trading is open for official market participants with access to live prices. More >>
TAG spuds first East Coast exploration well near Dannevirke
Tuesday, 23 April 2013, 10:34 am | BusinessDesk
April 23 (BusinessDesk) - TAG Oil, the Canadian oil and gas producer with extensive onshore Taranaki production, says it has spudded in the first exploration well in its controversial campaign to seek oil and gas from "unconventional" shale ... More >>
NZX technical glitch keeps investors in the dark
Tuesday, 23 April 2013, 10:31 am | BusinessDesk
April 23 (BusinessDesk) - Technical issues at NZX have kept investors in the dark with no market announcements being published on the stock exchange operator's website and Reuters and Bloomberg services not showing trading action. More >>
Allied Farmers sells Taranaki real estate unit for $472,500
Tuesday, 23 April 2013, 9:43 am | BusinessDesk
April 23 (BusinessDesk) - Allied Farmers, which kept itself alive last month through a fire sale of toxic loans, has sold its Taranaki real estate unit for $472,500, more than a quarter of the group’s value by market capitalisation. More >>
Labour-Greens power policy at least five years off - MRP
Tuesday, 23 April 2013, 9:36 am | BusinessDesk
April 23 (BusinessDesk) - MightyRiverPower expects it would take at least four years for the Labour and Green party electricity policies to be enacted. With more than a year until the next scheduled election, that could make the promised power price ... More >>
Snakk Media share offer near bottom of valuation range
Tuesday, 23 April 2013, 9:13 am | BusinessDesk
April 23 (BusinessDesk) - Snakk Media, the latest brainchild of Hyperfactory co-founder Derek Handley, wants to raise up to $2 million through a share purchase plan near the bottom of an independent adviser report's valuation range. More >>
Opaque shipping arrangements prompt rule review, papers show
Tuesday, 23 April 2013, 9:04 am | BusinessDesk
April 22 (BusinessDesk) - A lack of insight into the arrangements international shipping lines use to operate in New Zealand has inflamed fears the companies could be artificially pushing up freight costs and is central to the thinking behind a new regulatory regime, ... More >>
NZ dollar slips as China PMI awaited, RBNZ looms
Tuesday, 23 April 2013, 8:53 am | BusinessDesk
April 23 (BusinessDesk) – The New Zealand dollar fell before the April HSBC Flash Chinese PMI today, which will provide more evidence of growth in the nation’s No. 2 export market, while traders are looking ahead to the central bank policy review ... More >>
While you were sleeping: Microsoft deal, Caterpillar
Tuesday, 23 April 2013, 7:29 am | BusinessDesk
Gains in Microsoft shares, last up 4.1 percent, bolstered momentum after reports that ValueAct Capital had taken a US$2 billion stake in the company. More >>
Opposition power policy forces update to MRP float documents
Monday, 22 April 2013, 6:00 pm | BusinessDesk
April 22 (BusinessDesk) - The Labour and Green parties' new electricity policy has struck a new political blow, forcing the government to suspend the MightyRiverPower float overnight while it updates the offer document to would-be shareholders. More >>
MARKET CLOSE: NZ shares gain as Contact, Chorus advance
Monday, 22 April 2013, 5:45 pm | BusinessDesk
April 22 (BusinessDesk) – New Zealand shares rose as companies in regulated markets, such as Contact Energy and Chorus, recovered from last week’s selloff and among small caps, Ecoya soared after beating its earnings guidance. More >>
NZ dollar gains; renewed risk appetite pushes up Asia stocks
Monday, 22 April 2013, 5:21 pm | BusinessDesk
April 22 (BusinessDesk) - The New Zealand dollar gained in local trading as investors' appetite for higher-yielding assets bounced back, though a slew of data showing slower global growth this week may temper those gains. More >>
Three more airlines settle cargo cartel suit, leaving Air NZ
Monday, 22 April 2013, 4:49 pm | BusinessDesk
April 22 (BusinessDesk) - Three more airlines have settled with the Commerce Commission in the long-running air cargo cartel case, paying $9.6 million in penalties, and leaving national carrier Air New Zealand as the final airline yet to do so. More >>
Labour-Greens plan forces govt to amend MRP documents
Monday, 22 April 2013, 4:24 pm | BusinessDesk
April 22 (BusinessDesk) – The government has been forced to amend the offer documents for the partial sale of MightyRiverPower to take into account the risk of a Labour-Greens coalition winning the next election and enacting its proposal to slash the price ... More >>
Bathurst process inches forward
Monday, 22 April 2013, 2:57 pm | BusinessDesk
April 22 (BusinessDesk) - Would-be coking coal miner Bathurst Resources and its adversary the Royal Forest and Bird Protection Society New Zealand are at odds over elements of the process for court-ordered negotiations on conditions that would let the project ... More >>
Veteran newsman Rick Neville leaves APN for lobbying role
Monday, 22 April 2013, 2:13 pm | BusinessDesk
April 22 (BusinessDesk) - One of New Zealand's longest-serving editorial managers, Rick Neville, has taken early retirement from his role as chief operating officer for the local operations of APN News & Media to become a lobbyist for the newspaper ... More >>
NZ Dollar Outlook: Kiwi may fall this week as growth dims
Monday, 22 April 2013, 1:19 pm | BusinessDesk
NZ Dollar Outlook: Kiwi may fall this week as global growth dims, long bets wrong-footed More >>
MIDDAY UPDATE: Ecoya shares jump 17% as Trilogy dominates
Monday, 22 April 2013, 12:14 pm | BusinessDesk
Shares in Ecoya jumped 17 percent to 95 cents after the scented candle-maker said it turned profitable on an earnings before interest, tax, depreciation and amortisation basis, beating its November prediction to breakeven this year. More >>
Restaurant Brands scotches talk of buying Aussie KFC stores
Monday, 22 April 2013, 12:12 pm | BusinessDesk
April 22 (BusinessDesk) - Restaurant Brands, which operates the local KFC, Starbucks, Pizza Hut and Carl's Jr fast-food brands, has dismissed speculation it might be in the running to buy 40 KFC stores in Western Australia. More >>
