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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 1239]
MARKET CLOSE: NZ shares rally on SkyCity’s Adelaide plans
Wednesday, 19 December 2012, 5:48 pm | BusinessDesk
Dec. 19 (BusinessDesk) – New Zealand shares rallied, pushing the NZX 50 Index back above 4000, as investors cheered SkyCity Entertainment Group’s Adelaide expansion and broadly stronger offshore equity markets lifted demand for companies including ... More >>
NZ dollar falls as investors drawn to euro
Wednesday, 19 December 2012, 5:18 pm | BusinessDesk
NZ dollar falls as investors drawn to euro on optimism for fiscal cliff, Greek upgrade More >>
Burger Fuel raises $2 mln in placement to Milford funds
Wednesday, 19 December 2012, 2:24 pm | BusinessDesk
Dec. 19 (BusinessDesk) - Burger Fuel Worldwide, which is expanding by licensing its burger chain concept in the Middle East, raised $2 million selling shares at a discount to funds run by Milford Asset Management. More >>
MIDDAY UPDATE: SkyCity plans A$300M upgrade for Adelaide
Wednesday, 19 December 2012, 12:08 pm | BusinessDesk
Dec. 19 (BusinessDesk) - SkyCity Entertainment Group plans to spend about A$300 million doing up its Adelaide casino after settling on an appropriate size and regulation for its South Australian operation. More >>
Canadian pension fund likes NZ forest growing conditions
Wednesday, 19 December 2012, 11:49 am | BusinessDesk
Dec. 19 (BusinessDesk) - Canada's Public Sector Pension Investment Board is looking to capitalise on favourable growing conditions and access to Asian markets having taken a 30 percent stake in the central North Island's Kaingaroa forestry estate. More >>
NZ annual current account gap narrows in 3Q
Wednesday, 19 December 2012, 11:42 am | BusinessDesk
Dec. 19 (BusinessDesk) – New Zealand’s annual current account deficit narrowed as expected in the third quarter, driven by a decline in the trade surplus and as overseas investors earned less from their local investments. More >>
Wellington Drive shareholders approve $2.1M placement
Wednesday, 19 December 2012, 10:34 am | BusinessDesk
Dec. 19 (BusinessDesk) – Shareholders of Wellington Drive Technologies, the unprofitable maker of efficient electric motors, approved a $2.1 million placement to SuperLife Investments, giving the company more cash to see it through the next 12 months More >>
SkyCity sees A$300M Adelaide upgrade after regulatory accord
Wednesday, 19 December 2012, 9:45 am | BusinessDesk
Dec. 19 (BusinessDesk) – SkyCity Entertainment Group said it will spend more than A$300 million redeveloping its Adelaide Casino after concluding 2 ½ years of negotiations with the state government over the size of the operation, exclusivity and taxes. More >>
Energy Mad lowers FY guidance, gets $1M cash from SuperLife
Wednesday, 19 December 2012, 9:43 am | BusinessDesk
Dec 19 (BusinessDesk) - Energy Mad, which raised $5 million in an initial public offering last year to kick start sales of its energy-efficient light bulbs, said annual earnings will be at the lower end of guidance after delays slowed sales in ... More >>
NZ dollar drops vs. euro after Greek upgrade, Spanish sale
Wednesday, 19 December 2012, 9:05 am | BusinessDesk
Dec. 19 (BusinessDesk) – The New Zealand dollar fell against the euro as the common currency climbed against most of its trading peers after Standard & Poor’s upgraded Greece and Spain managed to sell all the debt it targeted in its last auction ... More >>
While you were sleeping: Optimism on US budget talks
Wednesday, 19 December 2012, 7:47 am | BusinessDesk
Dec 19 (BusinessDesk) – Wall Street climbed amid signs that budget talks between US Democrats and Republicans are finally progressing, raising optimism an agreement to avoid the so-called fiscal cliff will be reached by the year-end deadline. More >>
Dairy product prices rise 1.1% in final GDT auction of 2012
Wednesday, 19 December 2012, 6:57 am | BusinessDesk
Dec. 19 (BusinessDesk) – Prices of dairy products rose in the final GlobalDairyTrade auction of the year, though whole milk powder, the biggest product by volume, fell for the fourth sale in a row, More >>
Harvard sells down Kaingaroa forest stake
Tuesday, 18 December 2012, 6:17 pm | BusinessDesk
Dec. 18 (BusinessDesk) - Harvard Management Company, which manages Harvard University's US$30.7 billion endowment fund, has sold down its stake in the central North Island Kaingaroa forest. More >>
MARKET CLOSE: NZ shares rise, led by Telecom
Tuesday, 18 December 2012, 5:47 pm | BusinessDesk
Dec. 18 (BusinessDesk) – New Zealand shares rose, led by Telecom as equity markets worldwide took heart from signs of progress on fiscal cliff talks in Washington that may help the US economy avoid recession. Tech stocks Diligent Board member Services ... More >>
Fletcher Building nabs Telecom CFO Olson to head finances
Tuesday, 18 December 2012, 5:24 pm | BusinessDesk
Dec. 18 (BusinessDesk) - Telecom chief financial officer Nick Olson has left the second-largest company on the stock exchange to take control of the finances of Fletcher Building, the biggest company on the bourse. More >>
NZ dollar steady on fiscal cliff talks, dimmer NZ outlook
Tuesday, 18 December 2012, 5:10 pm | BusinessDesk
NZ dollar little changed as fiscal cliff talks trump RBA minutes, slower local recovery forecast More >>
Rugby World Cup provides $573M fillip to NZ, report shows
Tuesday, 18 December 2012, 4:38 pm | BusinessDesk
Dec. 18 (BusinessDesk) - Sports Minister Murray McCully has labelled last year's Rugby World Cup a success after independent research found it added $573 million to an otherwise tepid economy. More >>
Debt Management Office expands bond programme by $6.5 bln
Tuesday, 18 December 2012, 12:44 pm | BusinessDesk
Dec. 18 (BusinessDesk) - The New Zealand Debt Management Office has expanded its programme for issuing bonds by $6.5 billion over the next four years and flagged it will sell a further $7 billion in debt the following year. More >>
NZ budget surplus target puts focus on big-ticket spending
Tuesday, 18 December 2012, 12:41 pm | BusinessDesk
Dec. 18 (BusinessDesk) - The New Zealand's government's margin-of-error target to meet an operating surplus by 2015 has put spending on its biggest programmes under the gun, according to Finance Minister Bill English. More >>
Government holds to '15 target for wafer-thin budget surplus
Tuesday, 18 December 2012, 12:37 pm | BusinessDesk
Dec. 18 (BusinessDesk) - The New Zealand government is sticking to its 2015 target for getting its books back in black, but only just. More >>
