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BusinessDesk - Latest News [Page 1259]

Silver Fern Farms turns to FY loss on inventory writedowns

Tuesday, 13 November 2012, 1:30 pm | BusinessDesk

Nov. 13 (BusinessDesk) - Silver Fern Farms, New Zealand’s biggest meat processor and marketer, posted a full-year loss after a drop in demand forced it to write down inventory valuations while it had to compete for livestock at "unsustainable” ... More >>

Genesis Research directors quit, leaving it to shareholders

Tuesday, 13 November 2012, 12:58 pm | BusinessDesk

Nov. 13 (BusinessDesk) - The chairman and three other directors of Genesis Research and Development have resigned after concluding they can’t continue to run the company because of a lack of funds and lack of communication from major shareholders UBNZ ... More >>

Ministry wants manager, investor alignment on KiwiSaver

Tuesday, 13 November 2012, 12:56 pm | BusinessDesk

Nov. 13 (BusinessDesk) - Ministry of Business, Innovation and Employment officials back better alignment between the interests of fund managers and investors in KiwiSaver accounts as part of a review of the savings scheme's default providers. More >>

Govt moves against dodgy carbon credits

Tuesday, 13 November 2012, 12:46 pm | BusinessDesk

Nov. 13 (BusinessDesk) - International carbon credits based on large-scale hydro-electricity projects and hydro-fluorocarbon destruction schemes in developing countries will no longer be accepted in the New Zealand emissions trading scheme, if government ... More >>

MIDDAY UPDATE: Moa shares rise on debut

Tuesday, 13 November 2012, 12:10 pm | BusinessDesk

Nov. 13 (BusinessDesk) - Shares in boutique beer brewer Moa Group rose 8 percent to $1.35 in their first trade after today listing on the NZX. The stock settled back to $1.32 after the initial flurry. More >>

Goodman Property seeks $80M to help fund Highbrook buy-out

Tuesday, 13 November 2012, 12:01 pm | BusinessDesk

Nov. 13 (BusinessDesk) - Goodman Property Trust is seeking $80 million in new equity from institutional and retail shareholders to buy the 50 percent it doesn't already own of the Auckland business park, Highbrook, in a $186.6 million transaction involving ... More >>

Cheaper spring produce helps food prices fall in October

Tuesday, 13 November 2012, 10:59 am | BusinessDesk

Nov 13 (BusinessDesk) - Food prices fell by 0.6 percent in the month of October, spurred by seasonally adjusted falls in the price of tomatoes, lettuces and capsicums, and helped by a 0.5 percent drop in the cost of takeaway and restaurant meals. More >>

Infratil lifts 1H dividend as electricity investments shine

Tuesday, 13 November 2012, 9:55 am | BusinessDesk

Nov. 13 (BusinessDesk) - Infratil, the infrastructure investment firm, lifted its first-half dividend 8.3 percent on the strength of its energy investments on both sides of the Tasman and a controlling stake in Wellington International Airport. More >>

Olam reaches 90% of Farming Systems Uruguay

Tuesday, 13 November 2012, 9:55 am | BusinessDesk

Nov. 13 (BusinessDesk) - Olam International, the Singapore-based commodities company, has succeeded in gaining more than 90 percent of takeover target NZ Farming Systems Uruguay, allowing it to take the company private. More >>

Moa float's $1M public pool scaled after oversubscription

Tuesday, 13 November 2012, 9:37 am | BusinessDesk

Nov. 13 (BusinessDesk) - Moa Group, the boutique beer maker doing New Zealand’s first initial public offering of the year, will scale its $1 million public pool of shares after the offer was oversubscribed ahead of listing today. More >>

Earnings slump in Europe weighs on Mainfreight first half

Tuesday, 13 November 2012, 9:31 am | BusinessDesk

Nov. 13 (BusinessDesk) – Mainfreight, the global transport and logistics group, posted a 4.6 percent drop in first-half profit as an earnings slump in Europe offset gains in all of its other markets. It kept the first-half dividend payment unchanged. More >>

NZ dollar gains vs. euro as Greek report shows funding gap

Tuesday, 13 November 2012, 9:03 am | BusinessDesk

Nov. 13 (BusinessDesk) – The New Zealand dollar gained against the euro and the greenback after a report proposed giving Greece two more years to meet budget targets while highlighting the scale of the fiscal gap. More >>

CORRECT: Air NZ's Parton gets the nod for inner circle

Tuesday, 13 November 2012, 8:57 am | BusinessDesk

CORRECT: Air NZ's Parton gets the nod for Luxon's inner circle, appointed COO More >>

While you were sleeping: Stocks drop on Greece worry

Tuesday, 13 November 2012, 7:28 am | BusinessDesk

Nov 13 (BusinessDesk) – Equities sank as European finance chiefs met to discuss Greece's newly approved 2013 budget that is seeking to appease conditions by international lenders to secure more funds and avoid defaulting on its debt. More >>

Air NZ's Parton gets the nod for Luxon's inner circle

Monday, 12 November 2012, 5:49 pm | BusinessDesk

Nov. 12 (BusinessDesk) - National carrier Air New Zealand's Bruce Parton will join incoming boss John Luxon's inner circle after being appointed chief operating officer. More >>

MARKET CLOSE: NZ shares rise; Xero at record, Fletcher gains

Monday, 12 November 2012, 5:46 pm | BusinessDesk

Nov. 12 (BusinessDesk) - New Zealand shares rose, nudging the NZX 50 Index back toward the five-year high charted last month, as Australian interest drove Xero to a record and Fletcher Building gained after agreeing to buy a laminated panels business in ... More >>