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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 1243]
NZ dollar rises to 9-mth high on German confidence, Fed hope
Wednesday, 12 December 2012, 8:49 am | BusinessDesk
Dec. 12 (BusinessDesk) – The New Zealand dollar rose to a nine-month high as hopes Germany will avoid recession and optimism the Federal Reserve will enact more easing measures helped stocks rally and lift risk sentiment. More >>
While you were sleeping: Eyes on Fed, Germany
Wednesday, 12 December 2012, 7:38 am | BusinessDesk
Dec 12 (BusinessDesk) – Equities on both sides of the Atlantic gained amid hope the US Federal Reserve will announce further stimulus measures tomorrow, while Germany showed stronger-than-expected investor confidence. More >>
MARKET CLOSE: NZ shares fall; Warehouse drops
Tuesday, 11 December 2012, 5:49 pm | BusinessDesk
Dec. 11 (BusinessDesk) – New Zealand shares fell, led by Warehouse Group on concern its decision to buy appliance and electronics retailer Noel Leeming puts it in the toughest part of the market. Fletcher Building rose to a 17-month high. More >>
High Court rejects Maori Council water rights case
Tuesday, 11 December 2012, 5:32 pm | BusinessDesk
Dec. 11 (BusinessDesk) - The New Zealand Maori Council's case to stop the partial privatisation of MightyRiverPower while tribal claims to water rights are outstanding has failed at the High Court and is now almost certainly heading for appeal. More >>
NZ dollar rises to 5-week high vs. Oz dollar on rates view
Tuesday, 11 December 2012, 5:12 pm | BusinessDesk
Dec. 11 (BusinessDesk) – The New Zealand dollar rose to a five-week high against the Australian dollar, extending its gains of the past week on expectations the NZ central bank may raise interest rates while its counterpart could be looking at a ... More >>
RBNZ sets capital ratios for lenders under new Basel III
Tuesday, 11 December 2012, 3:19 pm | BusinessDesk
Dec. 11 (BusinessDesk) - The Reserve Bank has settled on what it thinks are appropriate capital ratio requirements for the nation's lenders which are set to kick in from next month. More >>
Jevic offers to buy Vehicle Inspection NZ
Tuesday, 11 December 2012, 3:00 pm | BusinessDesk
Dec. 11 (BusinessDesk) - Jevic New Zealand, a company that pre-vets imported used vehicles, offered to buy all the shares of Vehicle Inspection New Zealand, valuing the target at $4.1 million. More >>
Politicians wary of imposing criminal sanctions on directors
Tuesday, 11 December 2012, 2:27 pm | BusinessDesk
Dec. 11 (BusinessDesk) - New Zealand politicians are wary of racking up more criminal penalties on directors who breach their duties to companies and creditors, and have asked the government to take another look at pending legislation. More >>
TeamTalk shareholders approve Farmside purchase
Tuesday, 11 December 2012, 2:26 pm | BusinessDesk
Dec. 11 (BusinessDesk) - Shareholders of TeamTalk, the owner of the CityLink fibre-optic broadband service, have voted in favour of the acquisition of Farmside Group for up to $42 million to extend its reach into rural areas. More >>
Christchurch, Auckland supply shortage lifts property values
Tuesday, 11 December 2012, 12:57 pm | BusinessDesk
Dec. 11 (BusinessDesk) - A lack of houses in New Zealand's two biggest cities has driven up property values across the country and seen sale prices hit a new record-high. More >>
MIDDAY UPDATE: Govt awards 10 new exploration permits
Tuesday, 11 December 2012, 12:16 pm | BusinessDesk
Dec. 11 (BusinessDesk) - The government has signed off on 10 new oil and gas exploration permits in the Great Southern, Taranaki and Pegasus basins. More >>
Port Napier overtakes Ports of Auckland in export volumes
Tuesday, 11 December 2012, 11:36 am | BusinessDesk
Dec. 11 (BusinessDesk) – Napier Port has overtaken Ports of Auckland to become the North Island’s second largest export port, its annual results show. More >>
NZ retail sales on electronic cards rises 0.5% in November
Tuesday, 11 December 2012, 11:22 am | BusinessDesk
Dec. 11 (BusinessDesk) – New Zealand retail spending on debit, credit and charge cards rose more than expected last month, stoking optimism for a fourth-quarter rebound in fourth-quarter sales after a surprise decline in the third quarter. More >>
NZ government awards 10 new oil and gas permits
Tuesday, 11 December 2012, 10:45 am | BusinessDesk
Dec 11 (BusinessDesk) - The government's second round of tenders for oil and gas exploration blocks has yielded 10 new exploration licences, including two in the previously unexplored Pegasus Basin to deep-sea exploration specialist Anadarko. More >>
Government pitches greener growth alongside oil, gas push
Tuesday, 11 December 2012, 10:24 am | BusinessDesk
Dec. 11 (BusinessDesk) - The government is committing to improving the quality of New Zealand's natural resource base at the same time as pushing more intensive agriculture and more extraction of minerals, oil and gas to accelerate economic growth. More >>
DNZ CEO Duffy cashes in at share price peak with $1.65M sale
Tuesday, 11 December 2012, 10:19 am | BusinessDesk
Dec. 11 (BusinessDesk) - DNZ Property Fund chief executive Paul Duffy sold 9.9 percent of his stake in the property investor worth $1.65 million, cashing in as the share price tests record-highs since listing two years ago. More >>
L&M chairman Loudon exceeds 80% in acceptances takeover bid
Tuesday, 11 December 2012, 9:39 am | BusinessDesk
Dec. 11 (BusinessDesk) – L&M Energy chairman and creditor Geoff Loudon has drawn more than 80 percent acceptances for his takeover offer. More >>
NZ dollar holds above 83 US cents as FOMC awaited
Tuesday, 11 December 2012, 9:05 am | BusinessDesk
Dec. 11 (BusinessDesk) – The New Zealand dollar was little changed above 83 US cents after testing the upper limits of its recent trading range as traders await this week’s meeting of Federal Reserve policymakers. More >>
NZ median house price sets new record $383,250
Tuesday, 11 December 2012, 8:10 am | BusinessDesk
Dec. 11 (BusinessDesk) – The median house price in New Zealand set a new record for a second straight month, reaching $383,250 in the strongest sales volume in five years. Sales rose 24 percent to 7,454 in November from a year earlier and were 12.3 ... More >>
Williamson defends blocking list of 379 CTV-style buildings
Tuesday, 11 December 2012, 7:45 am | BusinessDesk
Dec 10 (BusinessDesk) - Some 379 buildings have been identified around New Zealand as being built in a similar engineering "genre" to the CTV Building, whose collapse in the February 2011 Christchurch earthquake claimed 115 of the 183 lives ... More >>
