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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 1240]
MIDDAY UPDATE: Maori Council can appeal MRP ruling
Tuesday, 18 December 2012, 12:07 pm | BusinessDesk
Dec. 18 (BusinessDesk) - The New Zealand Maori Council has been granted leave to appeal a High Court ruling dismissing its application for a review of Cabinet decisions relating to the sale of up to 49 percent of MightyRiverPower. More >>
Maori Council can take SOE appeal straight to Supreme Court
Tuesday, 18 December 2012, 11:59 am | BusinessDesk
Dec. 18 (BusinessDesk) - The New Zealand Maori Council has been granted leave to appeal a High Court ruling dismissing its application for a review of Cabinet decisions relating to the sale of up to 49 percent of MightyRiverPower. More >>
Argosy to raise $100M for Wellington building purchases
Tuesday, 18 December 2012, 10:14 am | BusinessDesk
Dec. 18 (BusinessDesk) - Argosy Property, whose shareholders agreed to corporatise the company last year after buying out the ANZ Bank-owned manager, wants to raise up to $100 million to pay for two buildings housing long-term government tenants ... More >>
Forsyth Barr, Credit Agricole settle over Credit Sails
Tuesday, 18 December 2012, 9:58 am | BusinessDesk
Dec. 18 (BusinessDesk) – Brokerage Forsyth Barr and firms associated with Credit Agricole Corporate and Investment Bank have agreed to establish a $60 million settlement fund to compensate investors and pay $500,000 in costs over the disastrous NZX-traded ... More >>
NZ dollar holds above 80 Australian cents as RBA looms
Tuesday, 18 December 2012, 9:03 am | BusinessDesk
Dec. 18 (BusinessDesk) – The New Zealand dollar held above 80 Australian cents ahead of the minutes of the Reserve Bank of Australia’s last policy meeting amid speculation it has further interest rate cuts to come, narrowing the gap with kiwi ... More >>
While you were sleeping: Obama, Boehner meet
Tuesday, 18 December 2012, 7:43 am | BusinessDesk
Dec 18 (BusinessDesk) – Wall Street gained as a meeting between US President Barack Obama and House Speaker John Boehner at the White House today bolstered optimism a budget agreement will be reached soon. More >>
MARKET CLOSE: NZ shares fall as funds freed up for Trade Me
Monday, 17 December 2012, 5:54 pm | BusinessDesk
MARKET CLOSE: NZ shares fall as funds freed up for Trade Me, index changes loom More >>
NZ dollar pares gains from QE4, Japanese poll, RBA looms
Monday, 17 December 2012, 5:08 pm | BusinessDesk
Dec. 17 (BusinessDesk) - The New Zealand dollar fell in local trading as investor optimism ran out of puff from the Federal Reserve's plan to print more money and the Bank of Japan looking likely to follow suit after the weekend's election. More >>
ANZ NZ sells eftpos terminal leasing unit to Verifone
Monday, 17 December 2012, 4:20 pm | BusinessDesk
Dec. 17 (BusinessDesk) - ANZ New Zealand, the country's biggest bank, sold its eftpos terminal leasing unit, EFTPOS New Zealand, for an undisclosed sum to global payments firm VeriFone Systems. More >>
UPDATE: Datacom sees no strategy change as NZ Post sells
Monday, 17 December 2012, 2:35 pm | BusinessDesk
UPDATE: Datacom sees no strategy change as NZ Post sells out to NZ Super Fund More >>
MIDDAY UPDATE: Fairfax cashes out of Trade Me
Monday, 17 December 2012, 12:08 pm | BusinessDesk
Dec. 17 (BusinessDesk) - Australian publishing group Fairfax Media is looking at a $1.5 billion payday as it sells half of local online auction site Trade Me today. More >>
NZ services sector expansion slows in November
Monday, 17 December 2012, 11:41 am | BusinessDesk
Dec. 17 (BusinessDesk) - New Zealand's services sector growth slowed last month after a surge in activity in October, and is another indicator underlining what's been a tepid economic recovery. More >>
NZ Dollar Outlook: Kiwi to top 85 cts as greenback unloved
Monday, 17 December 2012, 11:35 am | BusinessDesk
Dec. 17 (BusinessDesk) – The New Zealand dollar looks set to breach 85 US cents for the first time in 15 months provided third-quarter growth figures don’t disappoint and Washington remains stalled on fiscal cliff talks. More >>
NZ consumer confidence improves, households less miserable
Monday, 17 December 2012, 10:34 am | BusinessDesk
Dec. 17 (BusinessDesk) - New Zealand consumer confidence rose as households' pessimism about the state of their own affairs was the least gloomy in five years. More >>
UPDATE: Fairfax confirms Trade Me sale, raising A$616M
Monday, 17 December 2012, 10:25 am | BusinessDesk
Dec. 17 (BusinessDesk) – Fairfax Media has confirmed it has an underwriting agreement with UBS New Zealand to sell its stake in Trade Me for A$3.05 a share, generating gross proceeds of A$616 million. More >>
Ron Brierley keeps selling down GPG stake
Monday, 17 December 2012, 9:53 am | BusinessDesk
Dec. 17 (BusinessDesk) - Veteran corporate raider Ron Brierley has continued to sell down his holding in Guinness Peat Group, offloading another A$2.38 million of shares. More >>
Reserve Bank gives thumbs up to Heartland licence
Monday, 17 December 2012, 9:26 am | BusinessDesk
Dec. 17 (BusinessDesk) - The Reserve Bank has approved Heartland New Zealand's application to be a licensed bank, ending a long wait for the lender. More >>
Reserve Bank gives thumbs up to Heartland licence
Monday, 17 December 2012, 9:19 am | BusinessDesk
Dec. 17 (BusinessDesk) - The Reserve Bank has approved Heartland New Zealand's application to be a licensed bank, ending a long wait for the lender. More >>
Trade Me shares halted as Fairfax sees $1.5 bln payday
Monday, 17 December 2012, 9:10 am | BusinessDesk
Dec. 17 (BusinessDesk) - Shares in Trade Me have been halted as Australian publisher Fairfax Media sells its remaining 51 percent in the New Zealand online auction site. More >>
NZ Post sells stake in Datacom to NZ Super Fund for $142M
Monday, 17 December 2012, 8:58 am | BusinessDesk
Dec. 17 (BusinessDesk) – New Zealand Post, the state-owned postal service, agreed to sell its 35 percent stake in Datacom Group to the New Zealand Superannuation Fund for $142 million to repay debt and bolster its capital. More >>
