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BusinessDesk - Latest News [Page 1255]

Cargolux loses bid to throw out compo claim over cartel

Wednesday, 21 November 2012, 1:02 pm | BusinessDesk

Nov. 21 (BusinessDesk) - Cargolux Airlines International, which paid $6 million last year to settle its role in a global cargo cartel case, has lost a bid to throw out a compensation claim by a local flower exporter over its price-fixing on fuel and ... More >>

NZ hedges bets on TPP, joins ASEAN-plus trade negotiations

Wednesday, 21 November 2012, 12:58 pm | BusinessDesk

Nov 21 (BusinessDesk) - New Zealand is hedging its bets on the pace and success of Asia-Pacific free trade agreement negotiations, throwing in its lot with the China-led Regional Comprehensive Economic Partnership, as well as the Trans-Pacific Partnership ... More >>

MIDDAY UPDATE: Kiwi Jennings sells out of Russian bank

Wednesday, 21 November 2012, 12:08 pm | BusinessDesk

Nov. 21 (BusinessDesk) - Kiwi rich-lister Stephen Jennings has sold out of Renaissance Capital, 17 years after he founded the Russian investment bank that helped shape Russia's capital markets as the nation emerged from the Communist state in the early ... More >>

Comvita 1H earnings fall 7.4% amid short supply of honey

Wednesday, 21 November 2012, 10:17 am | BusinessDesk

Nov. 21 (BusinessDesk) - Comvita, which sells products based on the health and medical benefits of honey, posted a 7.4 percent decline in first-half profit , saying a shortage of Manuka honey after an inclement 2012 summer constrained sales growth and margins. More >>

Fonterra scotches speculation of US$450 mln Indian buy

Wednesday, 21 November 2012, 10:06 am | BusinessDesk

Nov. 21 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, has dismissed speculation the company is among potential bidders for India's Tirumala Milk Products. More >>

Summerset lifts long-term build rate forecast, bumps up debt

Wednesday, 21 November 2012, 9:26 am | BusinessDesk

Nov. 21 (BusinessDesk) - Summerset Group, the rest-home operator whose shares have jumped 49 percent this year, says it has lifted its long-term annual build rate for new retirement units and agreed to an increase in its bank facilities to help fund ... More >>

NZ dollar weakens with Australian dollar on RBA easing bias

Wednesday, 21 November 2012, 9:05 am | BusinessDesk

Nov. 21 (BusinessDesk) – The New Zealand dollar weakened along with the Australian dollar after the Reserve Bank of Australia indicated it still has an easing bias, stoking speculation it will cut interest rates next month and eroding the appeal ... More >>

While you were sleeping: Housing gains, HP charge

Wednesday, 21 November 2012, 7:36 am | BusinessDesk

Nov 21 (BusinessDesk) – Wall Street welcomed another surprisingly upbeat sign on the American housing market, the second in as many days. More >>

Dairy product prices rise 0.7 percent in GDT auction

Wednesday, 21 November 2012, 6:44 am | BusinessDesk

Nov. 21 (BusinessDesk) – Prices of dairy products rose in Fonterra’s latest GlobalDairyTrade auction, the third straight gain on the sales platform, led by cheddar and anhydrous milk fat while milk powder prices fell. More >>

MARKET CLOSE: NZ shares gain, led by Fletcher

Tuesday, 20 November 2012, 5:58 pm | BusinessDesk

Nov. 20 (BusinessDesk) - New Zealand shares gained, led by Fletcher Building after the biggest listed company forecast earnings growth of up to 22 percent, lifting the NZX 50 Index higher. NZ Oil & Gas was the biggest decliner. More >>

NZ dollar hold gains vs. euro on optimism for Greek bail-out

Tuesday, 20 November 2012, 5:18 pm | BusinessDesk

Nov. 20 (BusinessDesk) - The New Zealand dollar held gains on optimism European finance chiefs will sign up to the next tranche of Greece's multi-billion euro bail-out and after France had its credit rating downgraded. More >>

A2 in talks with NZX about shifting to main board

Tuesday, 20 November 2012, 3:06 pm | BusinessDesk

Nov. 20 (BusinessDesk) - A2 Corp, which markets milk products with a protein variant claimed to have health benefits, is in talks with the New Zealand Stock Exchange about shifting its listing on the main board. More >>

Discounting makes Pumpkin Patch wary of Christmas trading

Tuesday, 20 November 2012, 2:49 pm | BusinessDesk

Nov. 20 (BusinessDesk) - Pumpkin Patch, the children's clothing chain that closed underperforming stores in the US and UK this year, is wary of the upcoming Christmas trading period as the environment stays tough and retailers continue to discount ... More >>

Fonterra fund pricing uncertainty leaves Morningstar cold

Tuesday, 20 November 2012, 2:17 pm | BusinessDesk

Nov. 20 (BusinessDesk) - Investors should steer of the Fonterra Shareholders' Fund, which seeks to raise up to $525 million to reduce the dairy cooperative's redemption risk, until the units start trading, according to Morningstar Research. More >>

Pan Pacific Petroleum sees two Tui wells in 2013

Tuesday, 20 November 2012, 2:13 pm | BusinessDesk

Nov. 20 (BusinessDesk) - Pan Pacific Petroleum has told shareholders it hopes to see two exploration wells drilled in the fourth quarter of next year in the Tui oil and gas field, where it has a 10 percent interest. More >>

Glass Earth shares up 22% on option to buy Coromandel mine

Tuesday, 20 November 2012, 12:57 pm | BusinessDesk

Nov. 20 (BusinessDesk) - Gold miner Glass Earth has gained rights to take over the Neavesville gold and silver prospect currently controlled by Canadian resource developer Eurasian Minerals. More >>

Bathurst chairman slams never-ending appeals in NZ system

Tuesday, 20 November 2012, 12:23 pm | BusinessDesk

Nov. 20 (BusinessDesk) - Bathurst Resources chairman Craig Munro has thanked shareholders for their patience as the would-be Denniston Plateau coal miner deals with "what seems like the never ending appeals process that allows minority groups to stifle ... More >>