BusinessDesk

Independent, Trustworthy New Zealand Business News

The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.

Contact BusinessDesk

Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 1252]

Nufarm expects court sign-off on A$46.6M class suit tomorrow

Tuesday, 27 November 2012, 3:35 pm | BusinessDesk

Nov. 27 (BusinessDesk) – Nufarm, the agricultural chemicals maker, expects final court approval for settlement of a class action suit relating to investors who traded its shares in 2009 and 2010 when it was accused of misstating its results and debt ... More >>

Renaissance hires strategic adviser, cites low stock price

Tuesday, 27 November 2012, 2:38 pm | BusinessDesk

Nov. 27 (BusinessDesk) - Renaissance Corp, which shrank its balance sheet with the sale of its IT distribution business, has hired Grant Samuel & Associates for a strategic review, saying its weak share price leaves the company vulnerable to ... More >>

Environment watchdog OK's fracking, wants better rules

Tuesday, 27 November 2012, 2:00 pm | BusinessDesk

Nov. 27 (BusinessDesk) - The controversial oil and gas discovery technique known as fracking is safe when conducted to best practice standards, says the Parliamentary Commissioner for the Environment, Jan Wright, in an interim report More >>

Cedenco liquidators raise judge's ire using NZ data in Oz

Tuesday, 27 November 2012, 1:01 pm | BusinessDesk

Nov. 27 (BusinessDesk) - The firm hired for separate liquidations of the Cedenco group of companies in Australia and New Zealand has been ticked off by the High Court for using information gained during the New Zealand administration in its work across ... More >>

MIDDAY UPDATE: Ross Asset receivership bills mount

Tuesday, 27 November 2012, 12:05 pm | BusinessDesk

Nov. 27 (BusinessDesk) - The bill for the Ross Asset Management receivership and management is mounting, even though accounting and law firm partners are discounting their time in a case that's been described as bearing the hallmarks of a Ponzi scheme. More >>

NZ rounds out 3rd monthly trade deficit, dairy exports fall

Tuesday, 27 November 2012, 11:26 am | BusinessDesk

Nov. 27 (BusinessDesk) - New Zealand chalked up its third monthly trade deficit in October, repeating last year’s pattern, as shipments of dairy products fell and imports rose. More >>

New Talisman rights underwriter picks up half the stock

Tuesday, 27 November 2012, 10:45 am | BusinessDesk

Nov. 27 (BusinessDesk) - Shareholders of New Talisman Gold Mines applied for only 52 percent of shares on offer under its renounceable rights issue, leaving the underwriter to make up the balance. More >>

Receiverships don’t come cheap, details of RAM case show

Tuesday, 27 November 2012, 10:10 am | BusinessDesk

Nov. 27 (BusinessDesk) – Receivers and their legal counsel for Ross Asset Management discounted their charges but still couldn’t extract their full fees from the liquid assets left in David Ross’s group of investment companies, the High Court has been ... More >>

NZ dollar falls as Europeans struggle in Greek debt talks

Tuesday, 27 November 2012, 8:52 am | BusinessDesk

Nov. 27 (BusinessDesk) - The New Zealand dollar fell after stock markets faltered on news European finance chiefs were still at loggerheads over granting Greece its next round of bailout cash. More >>

Fulton Hogan gets OIO approval to sell Otago forestry

Tuesday, 27 November 2012, 7:42 am | BusinessDesk

Nov. 26 (BusinessDesk) - Fulton Hogan has got Overseas Investment Office approval to sell forestry estates in Otago as it looks to flog off non-core assets in a bid to strengthen its balance sheet. More >>

While you were sleeping: Doubts rise on Greek aid talks

Tuesday, 27 November 2012, 7:38 am | BusinessDesk

Nov. 27 (BusinessDesk) - The meeting of European Union finance ministers on extending aid to Greece hasn’t resolved and yet stocks have sold off and bonds have gained on doubts the 17 nations will be able to bridge their differences. More >>

No TPP deal unless dairy and Pharmac are in, says Key

Monday, 26 November 2012, 6:03 pm | BusinessDesk

Nov 26 (BusinessDesk) - New Zealand won't sign up to the Trans-Pacific Partnership free trade deal unless it includes an agreement to progressively abolish tariffs on agricultural products exported to North America, Prime Minister John Key said ... More >>

Heartland expects banking licence decision before Christmas

Monday, 26 November 2012, 5:56 pm | BusinessDesk

Nov. 26 (BusinessDesk) - Heartland New Zealand, the lender formed from the merger of Pyne Gould Corp's Marac Finance with the Canterbury and Southern Cross building societies, doesn't expect to know whether its application to become a bank has been ... More >>

MARKET CLOSE: NZX 50 rises to highest in almost 5 years

Monday, 26 November 2012, 5:53 pm | BusinessDesk

MARKET CLOSE: NZX 50 rises to highest in almost 5 years; Wrightson, Vector, Contact gain More >>

CORRECT: Hobbit tax rebate swells to $67.1 mln in 2nd year

Monday, 26 November 2012, 5:19 pm | BusinessDesk

Nov. 26 (BusinessDesk) - New Zealand taxpayers lent a $67.1 million helping hand via tax rebates for the making of Peter Jackson's movie The Hobbit in the first two years of actual production, according to its financial statements. More >>

NZ dollar little changed before Greek, US fiscal cliff talks

Monday, 26 November 2012, 5:16 pm | BusinessDesk

Nov. 26 (BusinessDesk) - The New Zealand dollar was little changed in local trading as investors awaited a meeting on EU policymakers that would grant Greece its next round of financial aid and talks between US legislators to bridge the fiscal cliff ... More >>