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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 1233]
Blis blames share price spike on registry clean-up
Thursday, 10 January 2013, 10:14 am | BusinessDesk
Jan. 10 (BusinessDesk) - Blis Technologies, the NZX-listed biotech company, is blaming a near-trebling in its share price on plans to tidy up its share registry by mopping up small holdings. More >>
NZ dollar breaks above 84 cents as risk appetite improves
Thursday, 10 January 2013, 9:24 am | BusinessDesk
Jan. 10 (BusinessDesk) – The New Zealand dollar rose above 84 cents for the first time since Dec. 19 as US stocks advanced on optimism earnings season will provide evidence the world’s biggest economy is reviving. More >>
Summerset sales climb 33 percent, beating IPO forecast
Thursday, 10 January 2013, 9:14 am | BusinessDesk
Jan. 10 (BusinessDesk) - Summerset Group, the retirement village operator and developer which joined the NZX 50 index last month, has beaten its annual forecast for sales of occupation rights, which climbed 33 percent from 2011. More >>
Gisborne Milk Co-op survival bid turned down by High Court
Thursday, 10 January 2013, 8:17 am | BusinessDesk
Jan. 10 (BusinessDesk) - Gisborne Milk Co-op, the 66-year-old Bay of Plenty dairy supplier in liquidation, has lost a last-ditch bid to get back shares and supply arrangements with Fonterra Cooperative Group. More >>
Morrison & Co-led group gives up on Stansted: report
Thursday, 10 January 2013, 8:10 am | BusinessDesk
Jan. 10 (BusinessDesk) - An investment consortium led by Wellington-based investment bank Morrison & Co has pulled out of the race to buy Stansted Airport in the UK after failing to get bank funding for the deal, according to a British media report. More >>
While you were sleeping: Alcoa lifts stocks, outlook
Thursday, 10 January 2013, 7:44 am | BusinessDesk
Jan 10 (BusinessDesk) – Equities in the US and Europe rose after Alcoa's better-than-expected fourth-quarter revenue helped bolster optimism that US corporate results might beat expectations, albeit low ones, and that China will add lustre to the global economy. More >>
MARKET CLOSE NZX 50 at five-year high
Wednesday, 9 January 2013, 6:05 pm | BusinessDesk
Jan. 9 (BusinessDesk) –New Zealand shares rose, nudging the NZX 50 to a five-year high. OceanaGold, Kathmandu and Telecom led gainers. More >>
NZ dollar pushes top of greenback, euro ranges as ECB looms
Wednesday, 9 January 2013, 5:11 pm | BusinessDesk
Jan. 9 (BusinessDesk) - The New Zealand dollar rose to the top of recent trading ranges against the greenback and euro as investors gear up for the European Central Bank to review its monetary policy amid signs the 17-nation bloc's economy is deteriorating. More >>
MIDDAY UPDATE: Pernod Ricard NZ in the red on writedowns
Wednesday, 9 January 2013, 12:16 pm | BusinessDesk
French liquor giant Pernod Ricard's local unit sank deeper into the red in 2012 after writing down the value of assets and investments by $119 million and as margins were squeezed on falling sales and rising costs. More >>
NZ building consents fall 5.4% in November, apartments lead
Wednesday, 9 January 2013, 11:46 am | BusinessDesk
Jan. 9 (BusinessDesk) - New Zealand building consents fell 5.4 percent in November as the typically volatile demand to build new apartments shrank to its lowest level since April 2011. The number of new dwellings consented fell to a seasonally adjusted ... More >>
Pernod Ricard NZ loss widens on writedown, weaker sales
Wednesday, 9 January 2013, 11:19 am | BusinessDesk
Jan. 9 (BusinessDesk) - French liquor giant Pernod Ricard's local unit widened its annual loss after writing down the value of assets and investments by some $119 million and as falling sales and higher costs flattened its margins. More >>
NZ Steel profit down 26.7%, production costs outstrip sales
Wednesday, 9 January 2013, 10:55 am | BusinessDesk
Jan. 9 (BusinessDesk) - The holding company for the New Zealand Steel mill at Glenbrook, near Auckland, has posted a 26.7 percent drop in tax-paid earnings in the year to June 30, according to Companies Office records filed before shortly before Christmas. More >>
Inghams sale process continuing, no agreement with buyer
Wednesday, 9 January 2013, 9:44 am | BusinessDesk
Jan. 9 (BusinessDesk) – Inghams Enterprises has yet to find a buyer for Australasia’s biggest chicken producer, which owner Bob Ingham put up for sale last July with a price tag reportedly of A$1.4 billion. More >>
NZ dollar falls vs. yen as pace of BOJ easing weighed
Wednesday, 9 January 2013, 8:52 am | BusinessDesk
Jan. 9 (BusinessDesk) – The New Zealand dollar extended its decline from a four-year high against the yen as traders pondered the pace of monetary easing by the Bank of Japan that has weakened its currency against most trading peers. More >>
While you were sleeping: Stocks fall on earnings worry
Wednesday, 9 January 2013, 7:42 am | BusinessDesk
Jan 9 (BusinessDesk) – Equities on both sides of the Atlantic weakened at the start of the fourth-quarter earnings season in the US that is expected to show tepid growth in corporate profits. More >>
MARKET CLOSE: NZ shares rise, led by Metlifecare, Telecom
Tuesday, 8 January 2013, 6:12 pm | BusinessDesk
Jan. 8 (BusinessDesk) – New Zealand shares rose in subdued January trading, led by Metlifecare, Telecom and PGG Wrightson as investors were drawn to the yields available on equities in the face of low interest rates. More >>
NZ dollar may gain vs. euro as ECB policy review looms
Tuesday, 8 January 2013, 5:20 pm | BusinessDesk
Jan. 8 (BusinessDesk) - The New Zealand dollar may gain against the euro as investors returning from the Christmas and New Year holidays prepare for the European Central Bank to review monetary policy this week amid fears the region's economy will continue ... More >>
Marsden Point refinery vulnerable to fire, tsunami: Air NZ
Tuesday, 8 January 2013, 3:31 pm | BusinessDesk
Jan 8 (BusinessDesk) - New Zealand's only oil refinery, at Marsden Point, is too vulnerable to the risks of a major fire or destruction from a tsunami, says Air New Zealand in a submission on a government review of the country's transport fuel security ... More >>
Canterbury Uni signs with Navitas to lure foreign students
Tuesday, 8 January 2013, 3:28 pm | BusinessDesk
Jan. 8 (BusinessDesk) - The University of Canterbury has partnered with ASX-listed Navitas as part of its strategy to double the percentage of foreign students enrolled to study. More >>
Goodman Property unit purchase oversubscribed, scaled back
Tuesday, 8 January 2013, 1:30 pm | BusinessDesk
Jan. 8 (BusinessDesk) - Goodman Property Trust, the second-biggest property investor on the NZX, has scaled its unit purchase plan after oversubscriptions. More >>
