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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 1186]
While you were sleeping: Chinese data hit stocks, gold
Tuesday, 16 April 2013, 6:36 am | BusinessDesk
April 16 (BusinessDesk) – Stocks on both sides of the Atlantic slumped along with commodities, as disappointing data from China, the world's second-largest economy, sparked concern about the pace of global growth. More >>
Infratil seeks up to $100M in nine-year bond offer
Monday, 15 April 2013, 6:16 pm | BusinessDesk
April 15 (BusinessDesk) - Infratil, the listed infrastructure investor, is seeking up to $100 million in a nine-year infrastructure bond offer, which it plans to put toward "general corporate purposes." More >>
MARKET CLOSE NZ shares creep up despite weak China, US stats
Monday, 15 April 2013, 6:12 pm | BusinessDesk
April 15 (BusinessDesk) - New Zealand stocks eked out small gains in trading at the start of the new week, reflecting weaker than expected economic data from both China and the US, although gold miners suffered most as the gold price continued to fall. More >>
Brownlee shortlists consortia for Transmission Gully
Monday, 15 April 2013, 6:09 pm | BusinessDesk
April 15 (BusinessDesk) - Transport Minister Gerry Brownlee has short-listed two groups to build the Transmission Gully road north of Wellington in a public-private partnership, with a goal to open the alternative route out of the capital city in ... More >>
NZ dollar falls after Chinese growth misses expectations
Monday, 15 April 2013, 5:41 pm | BusinessDesk
April 15 (BusinessDesk) - The New Zealand dollar dropped half a US cent in local trading after Chinese figures showed the world's second biggest economy grew at a slower annual pace than expected in the first three months of the year. More >>
Fonterra focuses organic supply in central North Island
Monday, 15 April 2013, 3:56 pm | BusinessDesk
April 15 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, is shaking up its organics business to refocus supply in the central and lower North Island, leaving Northland organic farmers out in the cold. More >>
Public service falls short on evaluating policy: Treasury
Monday, 15 April 2013, 3:12 pm | BusinessDesk
April 15 (BusinessDesk) - The public service needs to pick up its act in evaluating new policy as it embarks on its most radical reform since the 1980s, Treasury Secretary Gabriel Makhlouf says. More >>
Kordia privatises Orcon in sale to Hurst-led group
Monday, 15 April 2013, 2:04 pm | BusinessDesk
April 15 (BusinessDesk) - Kordia, the state-owned communications company, has sold internet service provider Orcon to a local business group led by Vivid Networks' Warren Hurst. More >>
MIDDAY UPDATE: PFI signals $800M merger with Direct Property
Monday, 15 April 2013, 12:11 pm | BusinessDesk
April 15 (BusinessDesk) - Industrial property investor Property for Industry has flagged plans to build an $800 million commercial property empire by merging with Direct Property Fund. More >>
PFI share price leads index up on $800M merger
Monday, 15 April 2013, 11:54 am | BusinessDesk
April 15 (BusinessDesk) - Property for Industry led the NZX50 up before lunchtime today as it announced a deal to merge with Direct Property Fund, an unlisted PIE in the same sector, to create a commercial property empire worth close to $800 million. More >>
Hot real estate market underpinning service activity
Monday, 15 April 2013, 11:15 am | BusinessDesk
April 15 (BusinessDesk) - The service sector, accounting for around 70 percent of New Zealand activity, is reporting steady expansion, underpinned by rising activity particularly in the banking, financial and legal services industries. More >>
Glass Earth exploration writedowns push FY loss to $11.1M
Monday, 15 April 2013, 10:07 am | BusinessDesk
April 15 (BusinessDesk) - Gold explorer Glass Earth Gold has reported an $11.14 million loss for the year to Dec. 31 after writing down $7.68 million of accumulated exploration costs relating to opportunities explored and superceded between 2005 and 2008. More >>
Summerset presses ahead with $100M Lower Hutt site
Monday, 15 April 2013, 9:48 am | BusinessDesk
April 15 (BusinessDesk) - Summerset Group, the retirement village operator and developer, is pressing ahead with plans for a $100 million site in Lower Hutt after completing due diligence. More >>
NZ dollar falls as weak US consumer spend saps risk appetite
Monday, 15 April 2013, 9:14 am | BusinessDesk
April 15 (BusinessDesk) - The soaring New Zealand dollar fell after weaker than expected retail spending in the US sapped investors' appetite for higher-yielding assets, pushing stocks on Wall Street lower on Friday and dragging down risk-sensitive currencies. More >>
Wynyard Group gets own board as capital needs loom
Sunday, 14 April 2013, 2:57 pm | BusinessDesk
April 14 (BusinessDesk) - Fast-growing intelligence software company Wynyard Group is considering its capital needs, but newly appointed chair Murray Horn is not commenting on whether that might include a New Zealand stock exchange listing. More >>
MARKET CLOSE: NZ shares rise; Ryman, PoT at record high
Friday, 12 April 2013, 6:14 pm | BusinessDesk
April 12 (BusinessDesk) – New Zealand stocks rose, pushing the NZX 50 Index to a record, as retirement village operator Ryman Healthcare and Port of Tauranga charted new highs. More >>
MONEY TALKS: We don't know how wealthy we are
Friday, 12 April 2013, 6:03 pm | BusinessDesk
April 12 (BusinessDesk) - Two things spring to mind when people start muttering about kiwis' savings habits - the first is that we don't do enough, and the second is that we pump all our cash into property. More >>
Bathurst shares plunge 19% on appeal news
Friday, 12 April 2013, 5:53 pm | BusinessDesk
April 12 (BusinessDesk) - Shares of would-be coking coal miner Bathurst Resources plunged 18.75 percent to 26 cents after the first appeal from environmental groups opposing an Environment Court decision upholding its Escarpment open-cut mine resource ... More >>
NZ dollar heads for 4.3% weekly gain vs. yen on BOJ printing
Friday, 12 April 2013, 5:24 pm | BusinessDesk
NZ dollar heads for 4.3% weekly gain vs. yen as BOJ floods markets with new money More >>
Housing NZ reaches $320 mln insurance settlement
Friday, 12 April 2013, 3:32 pm | BusinessDesk
April 12 (BusinessDesk) – Housing New Zealand has reached a $320 million settlement with insurers led by Suncorp Group’s Vero unit over 5,559 homes damaged in the Canterbury earthquakes, $110 million less than the state agency had originally claimed. More >>
