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BusinessDesk - Latest News [Page 1236]

MARKET CLOSE NZ shares rise to 5-year high; PGW, RYM gain

Friday, 28 December 2012, 5:39 pm | BusinessDesk

Dec. 28 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index to a new five-year high, led by stocks that are among broker picks for 2013, such as PGG Wrightson and Ryman Healthcare. More >>

NZ dollar gains ahead of fiscal cliff meeting on Sunday

Friday, 28 December 2012, 5:14 pm | BusinessDesk

Dec. 28 (BusinessDesk) - The New Zealand dollar gained in local trading on optimism US politicians will be able to set aside partisan differences and cut a deal on the US$600 billion in Federal tax increases and spending reductions with a vote set for ... More >>

Fairfax Media slashes New Zealand mastheads value by 80%

Friday, 28 December 2012, 3:11 pm | BusinessDesk

Dec. 28 (BusinessDesk) - Fairfax Media, which publishes the Dominion Post, Press and Sunday Star Times newspapers, slashed the value of its New Zealand mastheads by more than 80 percent in a group-wide writedown of its traditional publishing assets. More >>

MIDDAY UPDATE: Hawaii's Matson buys Reef Shipping

Friday, 28 December 2012, 12:11 pm | BusinessDesk

Dec. 28 (BusinessDesk) - Honolulu-based shipping company Matson has bought the failed Reef Shipping out of receivership in a bid to extend its reach into the South Pacific. More >>

NYSE-listed Matson agrees to buy Reef Shipping

Friday, 28 December 2012, 11:04 am | BusinessDesk

Dec. 28 (BusinessDesk) – Matson, a NYSE-listed shipping company servicing the northern Pacific, has agreed to buy Reef Shipping from its receivers to extend its reach into the South Pacific. More >>

NZ dollar falls on view US to sail over fiscal cliff

Friday, 28 December 2012, 9:03 am | BusinessDesk

Dec. 28 (BusinessDesk) – The New Zealand dollar fell as US stocks tumbled on concern America is running out of time to avert US$600 billion of tax hikes and spending cuts starting Jan. 1 that threaten to stall the world’s biggest economy. More >>

While you were sleeping: Hope fades for budget deal

Friday, 28 December 2012, 7:30 am | BusinessDesk

Dec 28 (BusinessDesk) – Wall Street sank as Senate Majority Leader Harry Reid warned the US appeared set to head over the so-called fiscal cliff as an agreement between Democrats and Republicans before the year-end deadline seems unlikely. More >>

MARKET CLOSE: NZ shares rise in light holiday trading

Thursday, 27 December 2012, 5:29 pm | BusinessDesk

Dec. 27 (BusinessDesk) – New Zealand stocks rose in light holiday trading, helped by gains in Fletcher Building, with US fiscal cliff negotiations likely to be the focus through the year end. Hellaby Holdings rose after agreeing to buy a maintenance ... More >>

NZ dollar gains as tough-talking Japanese govt lifts stocks

Thursday, 27 December 2012, 5:04 pm | BusinessDesk

Dec. 27 (BusinessDesk) - The New Zealand dollar rose in local trading as the prospect of a stronger Japanese government stoked investors' appetite for riskier assets, with stock markets gaining across Asia. More >>

Strategic, Lombard receiver seeks settlement with directors

Thursday, 27 December 2012, 2:53 pm | BusinessDesk

Dec. 27 (BusinessDesk) - The receiver for Strategic Finance and Lombard Finance & Investments, PwC's John Fisk, is in talks to reach settlements with the directors of the two failed lenders in a bid to avoid the costs of taking legal action. More >>

China's Yili to buy Oceania Dairy for $214 mln

Thursday, 27 December 2012, 1:12 pm | BusinessDesk

China's Yili to buy Oceania Dairy in $214 mln spend-up on infant formula plant More >>

Kiwis flock to shops on Boxing Day, Paymark figures show

Thursday, 27 December 2012, 12:45 pm | BusinessDesk

Dec. 27 (BusinessDesk) - New Zealanders spent 13.4 percent more on Boxing Day than they did a year ago, the first double-digit growth in sales for five years, Paymark says. More >>

MIDDAY UPDATE: Hellaby spends $103M on Contract Resources

Thursday, 27 December 2012, 12:10 pm | BusinessDesk

Dec. 27 (BusinessDesk) - Hellaby Holdings plans to spend $103 million in a Boxing Day sale to buy engineering maintenance and industrial cleaning firm Contract Resources. More >>

NZF meeting for Mike Pero sale on hold for court hearing

Thursday, 27 December 2012, 9:45 am | BusinessDesk

NZF meeting for Mike Pero Mortgages sale on hold as buyer seeks to limit information More >>

NZ dollar weakens as fiscal cliff looms, long bets unwind

Thursday, 27 December 2012, 9:09 am | BusinessDesk

Dec. 27 (BusinessDesk) – The New Zealand dollar fell against most major currencies as the looming US fiscal cliff sapped risk appetite, stoking demand for the greenback, and investors continued to unwind long positions in the kiwi and Australian dollars. More >>

Hellaby finally finds acquisition in Contract Resources

Thursday, 27 December 2012, 9:09 am | BusinessDesk

Dec. 27 (BusinessDesk) - Hellaby Holdings, the diversified investment group, has finally found something to buy after being on the prowl for the past two years in specialised engineering maintenance and industrial cleaning company Contract Resources. More >>