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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 1264]
NZ dollar rally stalls as US employment figures loom
Friday, 2 November 2012, 5:15 pm | BusinessDesk
Nov. 2 (BusinessDesk) - The New Zealand dollar stalled its rally as investors prepare for US jobs figures in Northern Hemisphere trading after upbeat data yesterday, and as the world's biggest economy prepares to elect its administration next week. More >>
MONEY TALKS: Making homes affordable
Friday, 2 November 2012, 4:38 pm | BusinessDesk
You may have missed it, but the government gave a nod to a worthy tome from the Productivity Commission this week, saying it's looking at the problem of home affordability and wants to crack on with something to fix it. More >>
Lyttelton Port 2013 annual earnings may fall as much as 23%
Friday, 2 November 2012, 4:32 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Lyttelton Port Co, Christchurch's ocean hub, sees 2013 annual profit falling by as much as 23 percent as it moves outside its indemnity period for cruise revenue and on smaller volumes of coal exports. More >>
Hubbard investors lay complaint against Grant Thornton
Friday, 2 November 2012, 1:40 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Investors in Aorangi Securities and Hubbard Managed Funds have laid complaints against statutory managers Grant Thornton over hold-ups they claim have put $60 million of assets at risk. More >>
NZ commodity prices rise 1.3% in October, led by wool
Friday, 2 November 2012, 1:29 pm | BusinessDesk
Nov 2 (BusinessDesk) – New Zealand commodity prices rose for the third straight month in October, led by gains in wool and dairy products while aluminium fell. More >>
MIDDAY UPDATE: Todd dynasty sells $218M stake in Sky TV
Friday, 2 November 2012, 12:14 pm | BusinessDesk
Nov. 2 (BusinessDesk) - The Todd family, one of the country's wealthiest dynasties, has sold its 11 percent stake in pay-TV operator Sky Network Television, ending a relationship that's lasted more than two decades. More >>
TeamTalk to buy Farmside for up to $42.1M in rural push
Friday, 2 November 2012, 11:51 am | BusinessDesk
Nov. 2 (BusinessDesk) - TeamTalk, the owner of the CityLink fibre-optic broadband service, wants to buy rural telecommunications provider Farmside Group for up to $42.1 million as it looks to grow its footprint beyond urban areas. More >>
REPEAT: Todd Communications ends 22-year interest in Sky TV
Friday, 2 November 2012, 11:26 am | BusinessDesk
REPEAT: Todd Communications ends 22-year interest in Sky TV, rotates capital in sale to Credit Suisse More >>
UPDATED: Todd Communications ends 22-year interest in Sky TV
Friday, 2 November 2012, 11:17 am | BusinessDesk
UPDATED: Todd Communications ends 22-year interest in Sky TV, rotates capital in sale to Credit Suisse More >>
UPDATED: Tower sells medical insurance unit to nib for $102M
Friday, 2 November 2012, 10:59 am | BusinessDesk
UPDATED: Tower sells medical insurance unit to nib for $102M, says profit will beat estimates More >>
Tower sells medial insurance unit to nib for $102 mln
Friday, 2 November 2012, 10:40 am | BusinessDesk
Nov. 2 (BusinessDesk) - Tower, the insurance and wealth management company, agreed to sell Tower Medical Insurance to ASX-listed nib holdings for about $102 million an plans to return the capital to shareholders. The shares jumped 3.1 percent. More >>
Wellington Drive 3Q sales slide 23%, sees tough trading
Friday, 2 November 2012, 10:38 am | BusinessDesk
Nov. 2 (BusinessDesk) - Wellington Drive Technologies, the unprofitable maker of efficient electric motors, posted a 23 percent slump in third-quarter sales after switching its focus this year to commercial refrigeration markets. It doesn’t see ... More >>
Foss sets rules for low-ball offers from next month
Friday, 2 November 2012, 10:10 am | BusinessDesk
Nov. 2 (BusinessDesk) - Commerce Minister Craig Foss has introduced new regulations to keep a lid on low-ball offers for stocks, bonds and other securities starting from next month. More >>
Todd Corp ends 22-year interest in Sky TV with $218M sale
Friday, 2 November 2012, 10:06 am | BusinessDesk
Nov. 2 (BusinessDesk) - Todd Communications, part of the privately owned Todd Corp, has agreed to sell its 11.1 percent stake in Sky Network Television, ending a 22-year tie with the listed pay-TV operator controlled by BskyB in a deal worth $218 million. More >>
Wellington Airport earnings 'excessive', regulator says
Friday, 2 November 2012, 9:06 am | BusinessDesk
Nov. 2 (BusinessDesk) - Wellington International Airport, which is co-owned by Wellington City Council and Infratil, has "excessive" earnings targets that aren't being pulled down by stricter disclosure rules, according to the Commerce Commission. More >>
NZ dollar rallies on signs of US jobs growth, China PMI
Friday, 2 November 2012, 8:46 am | BusinessDesk
Nov. 2 (BusinessDesk) – The New Zealand dollar rallied after US jobs data and improved manufacturing figures in China stoked optimism the global economy is on a better growth path, stoking demand for growth-linked assets such as the kiwi. More >>
While you were sleeping: US jobs, consumers surprise
Friday, 2 November 2012, 7:34 am | BusinessDesk
Nov 2 (BusinessDesk) – Wall Street received much-needed good news in the form of better-than-expected data on the American jobs market and consumer confidence, bolstering optimism about a recovery in the world's largest economy. More >>
Elevation bid to wind up Marlin falls short with 20% support
Thursday, 1 November 2012, 5:36 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Elevation Capital Management's bid to dump Fisher Funds as the manager of listed investment firm Marlin Global and wind up the portfolio fell short at today's annual meeting, winning 20.2 percent of the vote. More >>
MARKET CLOSE: NZ shares fall; Fletcher gives up gains
Thursday, 1 November 2012, 5:32 pm | BusinessDesk
Nov. 1 (BusinessDesk) – New Zealand shares fell as Fletcher Building gave up early gains and Skellerup Holdings was punished a second day for lowering its guidance. NZ Oil & Gas and PGG Wrightson rose. More >>
NZ dollar little changed after Chinese manufacturing climbs
Thursday, 1 November 2012, 5:06 pm | BusinessDesk
Nov. 1 (BusinessDesk) - The New Zealand dollar was little changed after Chinese manufacturing figures showed industrial activity in the world's second-biggest economy was at an eight-month high in October, stoking optimism about the prospects for global growth. More >>
