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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 1265]
Wool growers asked to put money into another marketing body
Thursday, 1 November 2012, 4:07 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Strong wool growers are being asked for up to $10 million to step up the scope of international marketing firm Wools of New Zealand. More >>
UPDATE: Ferry operator floats return to Lyttelton route
Thursday, 1 November 2012, 2:58 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Cook Strait ferry operators are unwilling to sign up to the idea of a new terminal south of Blenheim until they see the charges and one says running ferries again from Wellington to Lyttelton should be looked at. More >>
Windflow Technology seeks bridging loan pending new capital
Thursday, 1 November 2012, 2:43 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Windflow Technology, whose shares have lost almost two thirds of their value in the past year, said it is seeking bridging finance to tide it over until it can arrange to raise more funds from shareholders. More >>
Treasury boffins not ‘pencil-heads living in an ivory tower’
Thursday, 1 November 2012, 2:21 pm | BusinessDesk
Nov. 1 (BusinessDesk) - New Zealand’s Treasury secretary Gabriel Makhlouf says his department is seeking to be more outward facing to dispel the impression of “pencil-heads living in an ivory tower.” More >>
UPDATE: Clifford Bay business case must meet KiwRail's needs
Thursday, 1 November 2012, 12:48 pm | BusinessDesk
Nov. 1 (BusinessDesk) - State-owned rail operator KiwiRail says it will have to consider whether the Clifford Bay ferry terminal being further investigated by the government is a commercial proposition for it. More >>
MIDDAY UPDATE: SCF accused face trial call-over in January
Thursday, 1 November 2012, 12:13 pm | BusinessDesk
Nov. 1 (BusinessDesk) - The five men accused of New Zealand's biggest fraud involving South Canterbury Finance have been remanded for a first trial call-over in late January next year. More >>
Kiwibank eyes $150 mln bond offer after S&P cuts rating
Thursday, 1 November 2012, 11:53 am | BusinessDesk
Nov. 1 (BusinessDesk) - State-owned lender Kiwibank is looking at raising up to $150 million from a subordinated bond offer, after its credit rating was cut a notch by Standard & Poor's. More >>
ASX-listed Treasury Wine Estates snaps up Marlborough winery
Thursday, 1 November 2012, 11:50 am | BusinessDesk
Nov. 1 (BusinessDesk) - Australian-based Treasury Wine Estates (TWE) is planning to expand Rapaura Vintners in Marlborough after buying out 50 percent partner Babich Wines. More >>
Clifford Bay business case ripe for more investigation
Thursday, 1 November 2012, 11:37 am | BusinessDesk
Nov. 1 (BusinessDesk) - The government is assembling a team led by Treasury and transport officials to further investigate building a $422 million inter-island road and rail freight port at Clifford Bay, says Transport Minister Gerry Brownlee. More >>
Nuplex eyes imputing dividends, flags increased earnings
Thursday, 1 November 2012, 11:01 am | BusinessDesk
Nov. 1 (BusinessDesk) - Specialty chemicals company Nuplex Industries is hopeful that it will be able to partially impute dividends in the future as its New Zealand unit reports profits after cutting costs and reducing debt, while forecasting increased ... More >>
Tag Oil approaches Greymouth Petroleum
Thursday, 1 November 2012, 9:48 am | BusinessDesk
Nov. 1 (BusinessDesk) - Toronto Stock Exchange-listed Tag Oil has submitted a non-binding expression of interest to New Zealand-owned Greymouth Petroleum. More >>
Ron Brierley sells $2.87 mln of GPG shares
Thursday, 1 November 2012, 9:32 am | BusinessDesk
Nov 1 (BusinessDesk) - Veteran corporate raider Ron Brierley sold $2.87 million of shares in Guinness Peat Group as the investment company hits the half-way point in liquidating its portfolio. More >>
CORRECT: ComCom to keep tabs on fixed-to-mobile prices
Thursday, 1 November 2012, 9:17 am | BusinessDesk
CORRECT: Antitrust regulator to keep tabs on fixed line-to-mobile prices after Vodafone buys TelstraClear More >>
NZ dollar edges up as Wall Street reopens, holds in range
Thursday, 1 November 2012, 9:07 am | BusinessDesk
Nov. 1 (BusinessDesk) - The New Zealand dollar edged up while remaining in its recent trading range as Wall Street reopened and traders looked ahead to key manufacturing data from China. More >>
ComCom to keep tabs on fixed line-to-mobile pricing
Thursday, 1 November 2012, 8:50 am | BusinessDesk
Antitrust regulator to keep tabs on fixed line-to-mobile prices after Vodafone buys TelstraClear More >>
While you were sleeping: Wall Street down after Sandy
Thursday, 1 November 2012, 7:49 am | BusinessDesk
Nov 1 (BusinessDesk) – Wall Street fell on the first day of trading this week as shares of Apple declined after a management reshuffle, while Walt Disney Co shares fell after its deal to buy George Lucas's Lucasfilm. More >>
MARKET CLOSE: NZ shares snap 5-day slide; Fletcher up
Wednesday, 31 October 2012, 5:57 pm | BusinessDesk
Oct. 31 (BusinessDesk) - New Zealand shares rose, snapping five days of decline, as stronger housing data helped lift Fletcher Building and Contact Energy advanced. Skellerup Group fell after revising its guidance. More >>
TrustPower 1H profit creeps up as customers fall
Wednesday, 31 October 2012, 5:23 pm | BusinessDesk
Oct. 31 (BusinessDesk) - TrustPower, the utility controlled by Infratil, increased first-half profit as it managed to squeeze more from a dwindling customer base in an increasingly competitive market. More >>
NZ dollar headed for 1 percent decline in October
Wednesday, 31 October 2012, 5:20 pm | BusinessDesk
NZ dollar headed for 1 percent decline in October as 2.5 US cts range extends to seven weeks More >>
Skellerup flags smaller profit in 2013; shares fall
Wednesday, 31 October 2012, 4:08 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Skellerup Holdings, which makes industrial rubber goods, expects next year's profit to fall as much as 11 percent from a record result in 2012 as the company enters a tough trading environment. The shares fell to a three-week ... More >>
