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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 1237]
MARKET CLOSE: NZ shares rise in short session; retailers up
Monday, 24 December 2012, 1:46 pm | BusinessDesk
Dec. 24 (BusinessDesk) – New Zealand shares rose in a shortened pre-Christmas session, with Hallenstein Glasson Holdings leading some retailers higher after figures showed seasonal sales are tracking ahead of last year. Metlifecare fell after joining the ... More >>
MIDDAY UPDATE: No Podmore stocking stuffer for St Laurence
Monday, 24 December 2012, 12:09 pm | BusinessDesk
Dec. 24 (BusinessDesk) - Some 9,400 investors in failed finance company St Laurence won't get any joy from former boss Kevin Podmore's $20 million personal guarantee, according to the lender's receivers. More >>
Antitrust regulator cuts deal with Bluestone over fees
Monday, 24 December 2012, 11:08 am | BusinessDesk
Dec. 24 (BusinessDesk) - The Commerce Commission has cut a deal with Australian lender Bluestone Mortgages NZ over the fees charged on early repayments after a High Court ruling this year narrowed the regulator's scope to pursue a claim. More >>
St Laurence receivers get nothing from Podmore bankruptcy
Monday, 24 December 2012, 11:05 am | BusinessDesk
Dec. 24 (BusinessDesk) - The receivership of failed lender St Laurence will probably wrap up with the last repayment to investors in March next year though nothing will have emerged from former boss Kevin Podmore's bankruptcy and his $20 million personal ... More >>
Todd Corp acquires 19.9% stake in ASX-listed Wolf Minerals
Monday, 24 December 2012, 11:04 am | BusinessDesk
Todd Corp acquires 19.9% stake in ASX-listed Wolf Minerals for A$10.6M More >>
Diligent board to run ruler over executive incentive schemes
Monday, 24 December 2012, 9:08 am | BusinessDesk
Dec. 24 (BusinessDesk) - Diligent Board Member Services will have a look at its executives' incentive schemes after a New York law firm raised a flag over some compensation plans. More >>
NZ dollar sinks to three-week low as equities fall
Monday, 24 December 2012, 8:58 am | BusinessDesk
Dec. 24 (BusinessDesk) – The New Zealand dollar fell to a three-week low against the greenback after equities weakened and doubts grew on the ability of US Republicans and Democrats to reach agreement on averting the fiscal cliff. More >>
Ross Asset liquidators face hurdles in untangling mess
Monday, 24 December 2012, 7:33 am | BusinessDesk
Dec. 24 (BusinessDesk) - PwC's John Fisk and David Bridgman have found another pitfall as they try to untangle the mess surrounding Ross Asset Management which may make it more difficult to try and recovery the missing investor funds. More >>
World Week Ahead: Can Santa bring budget deal?
Monday, 24 December 2012, 7:20 am | BusinessDesk
Dec 24 (BusinessDesk) – The focus on this holiday-shortened week on both sides of the Atlantic will remain keenly on the attempts to reach a US budget deal after talks ground to a halt. More >>
MARKET CLOSE: NZ shares fall; Goodman, Refining leave index
Friday, 21 December 2012, 5:40 pm | BusinessDesk
Dec. 21 (BusinessDesk) – New Zealand shares fell, snapping a three-day rally as further delays to fiscal cliff talks in the US weighed on equity markets across Asia. Goodman Fielder and NZ Refining dropped as they exited the NZX 50 Index. More >>
NZ dollar falls as Republicans call of fiscal cliff vote
Friday, 21 December 2012, 5:11 pm | BusinessDesk
NZ dollar heads for 1.9 percent weekly fall as Republicans call off vote on fiscal cliff More >>
Kirk's hires advisers to look at spinning off property unit
Friday, 21 December 2012, 5:07 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Kirkcaldie & Stain's, the unprofitable Wellington department store operator, said it has hired advisers for the possible spinoff of its property-owning unit, whose asset exceeds the market value of the company. More >>
Blis to clean up share register, buying small parcels
Friday, 21 December 2012, 4:28 pm | BusinessDesk
Blis to clean up share register, buying shares held by up to two thirds of investors More >>
Crown Asset keeps Allied Farmers alive with funding deal
Friday, 21 December 2012, 4:02 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Crown Asset Management, the entity set up to handle assets from failed finance companies backed by the government's deposit guarantee, will take up what's left of the decimated Hanover and United Finance property assets from ... More >>
Abano posts 1H profit of $1.5M, meeting guidance
Friday, 21 December 2012, 3:18 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Abano Healthcare, a specialist healthcare investor and operator, met its guidance with a jump in first-half profit as it acquired more dental practices in Australia and New Zealand. More >>
MONEY TALKS: Something's building in the economy
Friday, 21 December 2012, 2:12 pm | BusinessDesk
If you hadn't already guessed, the only thing propping up the economy is the prospect that a whole lot of people are going to start building things in Canterbury very soon. More >>
From the Farm: Christmas? Bah humbug
Friday, 21 December 2012, 1:44 pm | BusinessDesk
You have to take business confidence with a grain of salt when it comes to farmers. Inherently conservative, they’re likely to sound less upbeat on average than other sectors of the economy. More >>
Singapore Airlines cops $4.1M fine in cartel case
Friday, 21 December 2012, 1:21 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Singapore Airlines Cargo has been fined $4.1 million for its role in colluding to fix prices for air cargo in the latest settlement with the Commerce Commission. More >>
MIDDAY UPDATE: Mad Butcher joins NZX in roundabout way
Friday, 21 December 2012, 12:02 pm | BusinessDesk
Dec. 21 (BusinessDesk) - The Mad Butcher has joined the NZX in a roundabout way after shell company Veritas Investments agreed to buy the franchisor business for $40 million. More >>
Telecom taps former Wrightson boss Miles to head up Gen-i
Friday, 21 December 2012, 11:43 am | BusinessDesk
Dec. 21 (BusinessDesk) - Telecom, which spun out its Chorus network unit last year, has appointed former PGG Wrightson boss Tim Miles to take charge at its Gen-i business ICT unit. More >>
