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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 1253]
MIDDAY UPDATE: Fulton Hogan profit plunges as Oz unit lags
Monday, 26 November 2012, 12:32 pm | BusinessDesk
Nov. 26 (BusinessDesk) - Privately-held construction firm Fulton Hogan reported an 89 percent plunge in annual earnings after an Australian joint venture beset by poor weather eroded profit, and prompted the New Zealand firm to pare back its growth ... More >>
Rough ride for Maori claimants in asset sales hearing
Monday, 26 November 2012, 12:28 pm | BusinessDesk
Nov.26 (BusinessDesk) - High Court proceedings challenging the government's partial privatisation of MightyRiverPower commenced this morning and immediately faced strong questioning from the presiding judge, Justice Ronald Young. More >>
Ross Asset investors want liquidation put out for tender
Monday, 26 November 2012, 12:25 pm | BusinessDesk
Ross Asset investor group wants liquidation put out for tender as Dec. 10 hearing date set More >>
Fulton Hogan slows Australian growth as FY profit drops 89%
Monday, 26 November 2012, 12:09 pm | BusinessDesk
Nov. 26 (BusinessDesk) - Fulton Hogan, the privately-held construction company, has slowed its growth aspirations across the Tasman after problems with a joint venture in New South Wales eroded earnings, leading to an 89 percent drop in annual profit. More >>
Rangatira to take control of NZ Experience, make full offer
Monday, 26 November 2012, 9:39 am | BusinessDesk
Nov. 26 (BusinessDesk) – Rangatira, the Wellington-based investment company, will take control of Rainbow’s End operator New Zealand Experience in a deal with the target company’s major shareholder as part of a full takeover. More >>
NZ dollar rallies as US Black Friday spending buoys stocks
Monday, 26 November 2012, 8:37 am | BusinessDesk
Nov. 26 (BusinessDesk) – The New Zealand dollar rallied to a month high in New York trading on early signs that US consumer spending picked up on so-called Black Friday that follows the Thanksgiving Day holiday, helping stocks gain and lifting ... More >>
World Week Ahead: Deal or no deal for Greece?
Monday, 26 November 2012, 6:10 am | BusinessDesk
Nov. 26 (BusinessDesk) – Two deals might help extend last week's momentum on equity markets in the US and Europe -- one that helps the US avoid its fiscal cliff and a second that would end the immediate threat of Greece defaulting on its debt. More >>
Investors' worst fears met: Ross says the cupboard is bare
Friday, 23 November 2012, 6:33 pm | BusinessDesk
Nov. 23 (BusinessDesk) - Wellington fund manager David Ross, whose businesses have been frozen after missing investor payments, has told receiver PwC not to expect to find any other assets after being released from hospital after three weeks of ... More >>
Appeal court boots out appeals against Feltex class suit
Friday, 23 November 2012, 6:10 pm | BusinessDesk
Nov. 23 (BusinessDesk) - Attempts by the former directors of the failed carpet-maker Feltex to halt a class action by 2,852 shareholders who lost $250 million have been thrown out by the Court of Appeal. More >>
MARKET CLOSE: NZX 50 climbs above 4000; Fletcher gains
Friday, 23 November 2012, 5:37 pm | BusinessDesk
Nov. 23 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index above 4000 for only the second time since January 2008. Fletcher Building, Chorus, Hallenstein Glasson Holdings and Property for Industry led the advance while Precinct Properties ... More >>
NZ dollar heads for 1.7 percent weekly gain vs. yen
Friday, 23 November 2012, 5:19 pm | BusinessDesk
NZ dollar heads for 1.7 percent weekly gain vs. yen as polls point to new Japanese govt More >>
MRP increases dividends up to 110% of profit
Friday, 23 November 2012, 3:51 pm | BusinessDesk
Nov 23 (BusinessDesk) - State-owned electricity company MightyRiverPower is raising its dividend policy from 75 percent of earnings to between 90 percent and 110 percent, saying it has fewer investment needs in the near future, and sweetening its attraction ... More >>
MONEY TALKS: Fonterra units - what to think?
Friday, 23 November 2012, 3:13 pm | BusinessDesk
In a week's time the great unwashed who haven't managed to own a dairy farm will get the chance to buy into Fonterra… kind of. More >>
MIDDAY UPDATE: Oz ship 'crawling with beetles' held in Wgtn
Friday, 23 November 2012, 12:06 pm | BusinessDesk
Nov. 23 (BusinessDesk) - An Australian ship has been detained in Wellington after biosecurity officials found the vessel to be "crawling with beetles" as it came to collect logs. More >>
Precinct misses out on 1st round of govt property review
Friday, 23 November 2012, 11:37 am | BusinessDesk
Nov. 23 (BusinessDesk) - Precinct Properties New Zealand, formerly known as AMP NZ Office, said its newly acquired Bowen Campus site near Wellington’s Beehive and Parliament has missed on a contract to supply as much as 60,000 square metres of ... More >>
Aust vessel ‘crawling with beetles’ held at Wellington port
Friday, 23 November 2012, 11:03 am | BusinessDesk
Nov. 23 (BusinessDesk) - An Australian ship detained at Wellington’s port this week was found to be “crawling with beetles,” Biosecurity New Zealand says. More >>
Air NZ, Auckland Airport report fewer overseas passengers
Friday, 23 November 2012, 11:00 am | BusinessDesk
Nov. 23 (BusinessDesk) - Air New Zealand and Auckland International Airport both reported fewer international passengers last month compared to the influx of visitors a year ago when the Rugby World Cup was reaching its crescendo. More >>
Warehouse affirms guidance, sees growth in consumer spending
Friday, 23 November 2012, 10:17 am | BusinessDesk
Nov. 23 (BusinessDesk) - Warehouse Group, the country's biggest listed retailer, reiterated its forecast for this year's earnings to beat those in 2012, and sees signs of growth in consumer spending. More >>
NZ dollar holds in recent range after Chinese data
Friday, 23 November 2012, 8:57 am | BusinessDesk
Nov. 23 (BusinessDesk) – The New Zealand dollar traded within its recent range in quiet trading with US markets closed for the Thanksgiving Day holiday and after figures showed Chinese manufacturing is growing again. More >>
While you were sleeping: China, Greece optimism
Friday, 23 November 2012, 7:47 am | BusinessDesk
Nov 23 (BusinessDesk) – Investors opted to focus on good news today, concentrating on data showing Chinese manufacturing expanded in November, even as separate data showed euro-area services and manufacturing output is now the worst in three years. More >>
