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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 1245]
Goodman Property investors approve $186.6M Highbrook deal
Friday, 7 December 2012, 1:31 pm | BusinessDesk
Dec. 7 (BusinessDesk) – Unitholders of Goodman Property Trust, the second-biggest property investor on the NZX, voted in favour of the acquisition of remaining shares in Auckland’s Highbrook Business Park for $186.6 million in cash and shares. More >>
MIDDAY UPDATE: Trade-weighted index at 16-month high
Friday, 7 December 2012, 12:13 pm | BusinessDesk
Dec. 7 (BusinessDesk) - The New Zealand dollar climbed to a 16-month high on a trade-weighted basis after investors piled into currency after Reserve Bank governor Graeme Wheeler yesterday all-but ruled out a rate cut as he zeroes in on potential inflation emerging ... More >>
Smelter talks resume between Meridian Energy and Rio Tinto
Friday, 7 December 2012, 11:44 am | BusinessDesk
Dec. 7 (BusinessDesk) - New Zealand's largest electricity producer, Meridian Energy, has resumed talks with Rio Tinto Alcan, the majority owner of the Tiwai Point aluminium smelter, over Rio's request for changes to 18-year contracts for power supply that ... More >>
NZX adviser cuts $10k settlement over dodgy Trade Me deal
Friday, 7 December 2012, 10:59 am | BusinessDesk
Dec. 7 (BusinessDesk) - An unnamed adviser at a registered NZX participant firm will pay a $10,000 settlement to the market watchdog after getting found out on a backroom deal to get Trade Me shares when the online auction site was floated last year. More >>
Turners & Growers sees FY net loss on orchard writedowns
Friday, 7 December 2012, 10:20 am | BusinessDesk
Dec. 7 (BusinessDesk) - Turners & Growers, the fruit marketer controlled by Germany’s BayWa Aktiengesellschaft, changed its guidance and is now forecasting a full-year loss, reflecting a writedown of its orchards. More >>
CBA shows hand as first foreign holder of Fonterra units
Friday, 7 December 2012, 9:56 am | BusinessDesk
Dec. 7 (BusinessDesk) – Commonwealth Bank of Australia is the first overseas investors to disclose a substantial holding in units of the Fonterra Shareholders’ Fund that debuted a week ago. More >>
NZ dollar climbs to 16-mth high on TWI on Wheeler's outlook
Friday, 7 December 2012, 9:06 am | BusinessDesk
NZ dollar climbs to 16-mth high on TWI after Wheeler rules out rate cut More >>
RESEND: Wynyard gets toehold in US market
Friday, 7 December 2012, 8:53 am | BusinessDesk
Dec. 7 (BusinessDesk) - Wynyard Group, the security and risk management software firm owned by Jade Software, has got a toehold in the US, partnering with Virginia-based Northrop Grumman Corp. More >>
From the Farm: Release the chooks
Friday, 7 December 2012, 7:22 am | BusinessDesk
Kiwis love eggs. We manage to get through 1 billion of them a year (a small portion is exported). Pumping them out are 3.3 million hens, living on 140 farms throughout the country. More >>
Wynyard gets toehold in US market with Northrop tie-up
Friday, 7 December 2012, 7:16 am | BusinessDesk
Dec. 7 (BusinessDesk) - Wynyard Group, the security and risk management software firm owned by Jade Software, has got a toehold in the US, partnering with Virginia-based Northrop Grumman Corp. More >>
While you were sleeping: ECB cuts euro-zone growth for 2013
Friday, 7 December 2012, 7:13 am | BusinessDesk
Dec. 7 (BusinessDesk) – The euro weakened against the US dollar and the yen after European Central Bank President Mario Draghi said the euro-zone was expected to stay in recession next year, reversing an earlier forecast for a recovery in economic ... More >>
MARKET CLOSE: NZ shares snap 3-day slide; Xero, Chorus gain
Thursday, 6 December 2012, 5:52 pm | BusinessDesk
Dec. 6 (BusinessDesk) – New Zealand shares rose, snapping a three-day slide as equity markets across the Asia-Pacific region generally gained. Xero resumed its climb after two US funds gave the company equity capital and Chorus clawed back from ... More >>
NZ dollar hits 9-mth high on TWI on Wheeler inflation view
Thursday, 6 December 2012, 5:12 pm | BusinessDesk
NZ dollar hits 9-month high on TWI basis after Wheeler warns on housing inflation More >>
Relocated Christchurch workers face unwelcome new tax rules
Thursday, 6 December 2012, 4:28 pm | BusinessDesk
Dec. 6 (BusinessDesk) - Workers who have relocated to Christchurch at their employers' expense risk having their accommodation costs treated as income under a new tax department ruling described by one major accounting firm as "a significant and unwelcome ... More >>
Postie Plus gains bank facility extension, avoids breach
Thursday, 6 December 2012, 3:33 pm | BusinessDesk
Dec. 6 (BusinessDesk) - Postie Plus Group has again avoided a breach of its banking covenants and gained a 12-monthextension on its facilities. More >>
Oil and gas block offer results due next Tuesday
Thursday, 6 December 2012, 1:11 pm | BusinessDesk
Dec. 6 (BusinessDesk) - Energy Minister Phil Heatley is set to announce the results of this year's block offer for oil and gas exploration permits on Tuesday next week, and government officials are confident more activity will follow in the coming years. More >>
Nufarm says 1H earnings to rise at least 15%
Thursday, 6 December 2012, 12:49 pm | BusinessDesk
Dec. 6 (BusinessDesk) - Nufarm, the agricultural chemicals manufacturer, said first half earnings will rise at least 15 percent on improved trading in South America and Europe, and foreign exchange gains. More >>
MIDDAY UPDATE: Endace gets takeover approach; kiwi gains
Thursday, 6 December 2012, 12:14 pm | BusinessDesk
Dec. 6 (BusinessDesk) – Emulex, the NYSE-listed data storage maker, offered to buy Endace, at a 69 percent premium to its last trading price, winning over the target company’s independent directors. More >>
Emulex makes 80.7M pound takeover offer for Endace
Thursday, 6 December 2012, 11:11 am | BusinessDesk
Dec. 6 (BusinessDesk) - Dec. 6 (BusinessDesk) – Emulex, the NYSE-listed data storage maker, offered to buy Endace, at a 69 percent premium to its last trading price, winning over the target company’s independent directors. More >>
NZ dollar jumps after Wheeler gives less-dovish MPS
Thursday, 6 December 2012, 9:47 am | BusinessDesk
Dec. 6 (BusinessDesk) - The New Zealand dollar rose after Reserve Bank governor Graeme Wheeler kept his forecast track for interest rates almost unchanged and gave no signal there’s room for the official cash rate to be cut. More >>
