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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 1248]
MIDDAY UPDATE: Ross Asset investors face 'gruesome' fight
Tuesday, 4 December 2012, 12:03 pm | BusinessDesk
Dec. 4 (BusinessDesk) - Investors in Ross Asset Management will be in for a "gruesome legal fight" to claw back their cash if regulators can prove David Ross was running a Ponzi scheme. More >>
OceanaGold to raise up to C$108M in new equity
Tuesday, 4 December 2012, 10:54 am | BusinessDesk
Dec. 4 (BusinessDesk) - OceanaGold, which operates the Macraes gold mine near Dunedin, plans to raise up to C$108 million in a fully-underwritten share issue to repay debt and bolster its balance sheet. More >>
Ross Asset investors face 'gruesome legal fight'
Tuesday, 4 December 2012, 10:27 am | BusinessDesk
Dec. 4 (BusinessDesk) – Investors in Ross Asset Management face a “gruesome legal fight” to recover their funds if investigations by regulators show fund principle David Ross was running a Ponzi scheme, says investor spokesman Bruce Tichbon. More >>
Chorus debt rating on review for possible cut
Tuesday, 4 December 2012, 9:04 am | BusinessDesk
Dec. 4 (BusinessDesk) - Chorus's Baa2 credit rating may be cut by Moody’s Investors Service after the Commerce Commission released a draft plan to curb prices the company can charge retailers to access its network. More >>
NZ dollar may gain vs. Australian dollar on RBA move
Tuesday, 4 December 2012, 8:59 am | BusinessDesk
Dec. 4 (BusinessDesk) - The New Zealand dollar may gain against its Australian counterpart if the Reserve Bank of Australia cuts interest rates as expected, as the resources boom slows across the Tasman and forces the regulator to reduce its yield advantage. More >>
While you were sleeping: Euro gains on Greek buyback
Tuesday, 4 December 2012, 7:32 am | BusinessDesk
Dec. 4 (BusinessDesk) – The euro rose to a six-week high against the dollar after Greece offered to buy back 10 billion euros of bonds in what’s seen as a sign of progress in tackling its debt mountain. More >>
Chorus pricing decision very problematic, says Key
Monday, 3 December 2012, 6:32 pm | BusinessDesk
Dec. 3 (BusinessDesk) - The Telecommunications Commissioner's draft decision on access to switchgear on the copper telecommunications network is "very problematic" and the government won't rule out legislating to get the outcome it wants, says Prime ... More >>
MARKET CLOSE: NZ shares mixed; Chorus falls, Xero soars
Monday, 3 December 2012, 5:44 pm | BusinessDesk
Dec. 3 (BusinessDesk) - New Zealand shares fell after telecommunications network operator Chorus said a draft view of price curbs proposed by the regulator could wipe $160 million from earnings. Xero soared to a record after raising funds from ... More >>
NZ dollar little changed vs. Oz dollar as RBA looms
Monday, 3 December 2012, 5:12 pm | BusinessDesk
Dec. 3 (BusinessDesk) - The New Zealand dollar was little changed against its Australian counterpart as sluggish consumer spending across the Tasman stoked speculation the Reserve Bank of Australia may cut interest rates deeper than initially anticipated. More >>
4RF assets sold to Israel’s Fortissimo for US$8M
Monday, 3 December 2012, 3:49 pm | BusinessDesk
Dec. 3 (BusinessDesk) - Israeli private equity group Fortissimo Capital paid US$8 million for award-winning Wellington-based microwave radio products developer 4RF, allowing the receivers to repay creditors and settle with noteholders. More >>
Chorus says draft copper ruling could cut earnings by $160M
Monday, 3 December 2012, 2:17 pm | BusinessDesk
Chorus says annual earnings could fall up to $160M if UBA draft price ruling goes ahead More >>
NZ Dollar Outlook: Kiwi may fall as central banks mull rates
Monday, 3 December 2012, 1:25 pm | BusinessDesk
Dec. 3 (BusinessDesk) – The New Zealand dollar may fall this week, while staying in its recent trading range, as traders await a plethora of central bank meetings against a background of stalled US fiscal cliff talks. More >>
MIDDAY UPDATE: Chorus shares plunge on prospect of price cut
Monday, 3 December 2012, 12:09 pm | BusinessDesk
Dec. 3 (BusinessDesk) - Shares in telecommunications network operator Chorus sank to a five-month low after the antitrust regulator flagged a draft pricing review that would restrict the company's ability to charge for access to the electronic ... More >>
NZ terms of trade fall to 3-year low
Monday, 3 December 2012, 11:33 am | BusinessDesk
NZ terms of trade fall to 3-year low as strong kiwi slices into dairy returns More >>
Mystery bidder for Kirkcaldie building misses deadline
Monday, 3 December 2012, 11:25 am | BusinessDesk
Dec. 3 (BusinessDesk) - An unnamed bidder for the Harbour City Centre building owned by upscale Wellington retailer Kirkcaldie & Stains has missed a deadline for confirming it was satisfied with due diligence and the agreement could be terminated ... More >>
Chorus shares plunge on ComCom copper pricing decisions
Monday, 3 December 2012, 10:36 am | BusinessDesk
Dec. 3 (BusinessDesk) - Telecommunications network operator Chorus saw its shares plunge 12 percent at the open of NZX trading following a Commerce Commission a draft decision that would steeply cut what it can charge for access to electronic switchgear ... More >>
SMELLIE ON SME's: Data privacy - the basics
Monday, 3 December 2012, 9:41 am | BusinessDesk
Dec. 3 (BusinessDesk) - If you're anything like me, the innards of a personal computer and the workings of the Internet are something of a magical mystery. When they work, they're fantastic tools. If anything goes wrong, it's like losing a limb and it can ... More >>
Wrightson finally gets $25M Crafar Farms loan repaid
Monday, 3 December 2012, 9:24 am | BusinessDesk
Dec. 3 (BusinessDesk) - PGG Wrightson, New Zealand’s largest rural services company, has finally received repayment of loans over the Crafar Farms of about $25 million following the sale of the properties to China’s Shanghai Pengxin Group. More >>
Glass Earth to raise C$3M in private placement
Monday, 3 December 2012, 9:16 am | BusinessDesk
Dec. 3 (BusinessDesk) - Glass Earth Gold is raising as much as C$3 million in a private placement in Canada to raise funds to develop its Neavesville and WKP projects in the Hauraki region. More >>
Chorus wins in push-back against proposed copper pricing
Monday, 3 December 2012, 9:02 am | BusinessDesk
Dec. 3 (BusinessDesk) - Chorus, the telecommunications network operator, won't have to cut its prices for copper-line services as deeply as initially feared after the antitrust regulator set pricing over the unbundled copper local loop. More >>
