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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 1285]
NZ dollar rises to 7 month high on Spain budget, China funds
Friday, 28 September 2012, 9:53 am | BusinessDesk
Sept. 28 (BusinessDesk) – The New Zealand dollar rose to its highest level in almost seven months after Spain announced an austerity budget that may herald a formal request for a bailout, while China pumped record amounts of funds into its financial system. More >>
While you were sleeping: Spanish budget appeals
Friday, 28 September 2012, 7:10 am | BusinessDesk
Sept 28 (BusinessDesk) – Investors applauded a Spanish budget that's focused on cutting spending and the deficit as that might help appease European Union officials if the cash-strapped nation moves ahead with asking for a full financial rescue. More >>
NZ shares mixed; Warehouse falls, F&P Healthcare gains
Thursday, 27 September 2012, 5:52 pm | BusinessDesk
Sept. 27 (BusinessDesk) - New Zealand shares were mixed. Warehouse Group was among declining retailers while Fisher & Paykel Healthcare led rising stocks. More >>
NZ dollar gains as investors seek higher yields
Thursday, 27 September 2012, 5:35 pm | BusinessDesk
Sept. 27 (BusinessDesk) - The New Zealand dollar gained in local trading, snapping three days of declines, as low volatility gave investors the confidence to seek bigger returns from the nation's relatively high yields. More >>
Van der Heyden to stay on Fonterra board after leaving chair
Thursday, 27 September 2012, 5:31 pm | BusinessDesk
Sept. 27 (BusinessDesk) - Henry van der Heyden will stay on the board of Fonterra Cooperative Group after his term ends as chairman in December and Ralph Waters will have his term extended as the dairy company introduces its Trading Among Farmers ... More >>
Chatham Rock Phosphate at record high on new research
Thursday, 27 September 2012, 3:47 pm | BusinessDesk
Sept. 27 (BusinessDesk) - NZAX-listed Chatham Rock Phosphate will seek a further US$10 million in a Toronto Stock Exchange listing in the next three months to support its offshore phosphate mining venture, which Edison Investment Research values at ... More >>
ASX-listed MOD Resources extends interest in Golden Bay gold
Thursday, 27 September 2012, 3:40 pm | BusinessDesk
Sept. 27 (BusinessDesk) - MOD Resources, the ASX-listed gold, copper and silver explorer, has gained an interest in a second permit in the South Island’s Golden Bay region. More >>
Auckland Airport's credit rating outlook improves
Thursday, 27 September 2012, 2:16 pm | BusinessDesk
Sept. 27 (BusinessDesk) - Auckland International Airport, the country's biggest gateway, has had its credit rating outlook upgraded to 'positive' by rating agency Standard & Poor's due to a smaller-than-expected spending programme to cope with congestion ... More >>
NZ business confidence slips in September
Thursday, 27 September 2012, 1:29 pm | BusinessDesk
Sept. 27 (BusinessDesk) - New Zealand business confidence retreated this month though firms grew more bullish about their own prospects and both pricing intentions and inflation expectations are rising from their lows. More >>
Zintel sells Commit, final operating unit, for $1.13M
Thursday, 27 September 2012, 11:59 am | BusinessDesk
Sept. 27 (BusinessDesk) - Zintel Group has sold its Commit Services unit for $1.13 million, announcing the disposal of its last operating unit ahead of a shareholder vote tomorrow on winding up the company. More >>
MIDDAY UPDATE: Woolworths sells Dick Smith
Thursday, 27 September 2012, 11:59 am | BusinessDesk
Sept. 27 (BusinessDesk) - Australian supermarket operator Woolworths has sold its Dick Smith consumer electronics chain for A$20 million to private equity firm Anchorage Capital Partners. More >>
Woolworths sells Dick Smith chain to buyout firm for A$20M
Thursday, 27 September 2012, 11:33 am | BusinessDesk
Sept 27 (BusinessDesk) - Australian supermarket operator Woolworths has sold its Dick Smith consumer electronics chain for A$20 million to private equity firm Anchorage Capital Partners. More >>
Postie Plus posts FY loss on costs to dispose of Babycity
Thursday, 27 September 2012, 11:32 am | BusinessDesk
Sept. 27 (BusinessDesk) - Postie Plus Group, the clothing chain, reported a full-year loss after costs related to the sale of its Babycity business and relocation of marketing and distribution to Auckland. More >>
Pumpkin Patch FY earnings meet guidance, sliding 20%
Thursday, 27 September 2012, 10:47 am | BusinessDesk
Sept. 27 (BusinessDesk) - Pumpkin Patch, the children’s clothing chain, posted a 20 percent decline in full-year earnings, meeting its forecast, as "challenging retail conditions" in all markets squeezed margins. The stock shed 3.4 percent. More >>
Ngai Tahu Holdings boosts earnings, may invest more in dairy
Thursday, 27 September 2012, 10:08 am | BusinessDesk
Sept. 27 (BusinessDesk) - Ngai Tahu Holdings, which manages the South Island iwi's commercial operations, boosted earnings across all of its units and is looking to ramp up its exposure in dairy. More >>
Hannah on SMEs: It's time for a change
Thursday, 27 September 2012, 9:19 am | BusinessDesk
Sept. 25 (BusinessDesk) - Imagine giving your 87 year old grandmother an iPad. I'd hazard a guess she probably wouldn't know how to use it - I'm in my twenties and I still struggle to navigate my way around the simplicity of my MacBook, let alone ... More >>
NZ dollar gains as relatively high yields lifts appeal
Thursday, 27 September 2012, 8:39 am | BusinessDesk
Sept. 27 (BusinessDesk) – The New Zealand dollar rose against most major currencies as more uncertainty in Europe drew offshore investors to the nation’s relatively high yields and economic stability. More >>
While you were sleeping: EU's dark shadow
Thursday, 27 September 2012, 7:38 am | BusinessDesk
Sept 27 (BusinessDesk) – Protests in Spain and Greece put the European sovereign debt crisis centre stage, renewing investors' worries about the risk the euro zone's problems pose to global growth and corporate profits. More >>
Brazil's Petrobras faces refinery pollution charges
Wednesday, 26 September 2012, 6:10 pm | BusinessDesk
Sept. 26 (BusinessDesk) - The Brazilian oil company Petrobras, which faced protests in New Zealand when it did deep-sea exploratory work off East Cape last year, faces charges relating to the alleged dumping of oil into the sea at a Rio de Janeiro refinery. More >>
MARKET CLOSE: NZ shares fall as Fletcher sheds dividend
Wednesday, 26 September 2012, 6:07 pm | BusinessDesk
Sept. 26 (BusinessDesk) - New Zealand shares fell, pushing the NZX 50 Index from a 4 ½-year high as Fletcher Building and SkyCity Entertainment Group shed their dividends. Rural services company PGG Wrightson fell after dairy giant Fonterra posted ... More >>
