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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 1287]
NZ dollar rises as Asian stocks rally
Tuesday, 25 September 2012, 5:11 pm | BusinessDesk
Sept. 25 (BusinessDesk) - The New Zealand dollar crept up in local trading as a Chinese growth indicator underpinned investors' appetite for risk-sensitive assets, and as longer-dated local interest rates fell. More >>
NZ Steel 'emotionally committed' to coal from Solid Energy
Tuesday, 25 September 2012, 4:14 pm | BusinessDesk
Sept 25 (BusinessDesk) - New Zealand Steel is "emotionally committed" to renewing its coal contract with the troubled state coal miner, Solid Energy, says the Australian-owned steel manufacturer's chief executive, Simon Linge. More >>
No government bailout for Solid Energy, Ryall says
Tuesday, 25 September 2012, 2:24 pm | BusinessDesk
Sept. 25 (BusinessDesk) - Embattled state-owned miner Solid Energy won't get a government rescue after a slump in international coal prices eroded the viability of two of its operations and forced it to cut jobs, State Owned Enterprises Minister Tony Ryall ... More >>
Tenon sees no uplift in earnings until late 2013
Tuesday, 25 September 2012, 1:42 pm | BusinessDesk
Sept 25 (BusinessDesk) - Tenon, the NZX-listed company that sells wood mouldings in the US, is forecasting no uplift in earnings until late 2013 as the high New Zealand dollar and tepid US economic recovery slow sales. More >>
Joyce calls on environmentalists to drop Bathurst challenge
Tuesday, 25 September 2012, 1:24 pm | BusinessDesk
Sept. 25 (BusinessDesk) - Economic Development Minister Steven Joyce has called on the NZ Royal Forest and Bird Protection Society and West Coast environmentalists to drop their objections to Bathurst Resources’ Escarpment Mine project, saying ... More >>
SFO charges ex-Sutton Group employees with attempted fraud
Tuesday, 25 September 2012, 12:17 pm | BusinessDesk
Sept. 25 (BusinessDesk) - The Serious Fraud Office has laid 33 charges in the Auckland District Court against two former employees of dairy producer Sutton Group it says were trying to defraud the Auckland-based company. More >>
MIDDAY UPDATE: SFO charges former Sutton Group employees
Tuesday, 25 September 2012, 12:11 pm | BusinessDesk
Sept. 25 (BusinessDesk) - The Serious Fraud Office has laid 33 charges in the Auckland District Court against two former employees of dairy producer Sutton Group it says were trying to defraud the Auckland-based company. More >>
MIDDAY UPDATE: SFO chargers former Sutton Group employees
Tuesday, 25 September 2012, 12:10 pm | BusinessDesk
Sept. 25 (BusinessDesk) - The Serious Fraud Office has laid 33 charges in the Auckland District Court against two former employees of dairy producer Sutton Group it says were trying to defraud the Auckland-based company. More >>
Newmont flags job cuts at Waihi gold mine on surging costs
Tuesday, 25 September 2012, 11:06 am | BusinessDesk
Sept. 25 (BusinessDesk) - Global gold miner Newmont plans to scale back its exploration at its Waihi site in New Zealand's Coromandel Peninsula and expects to lay off 20 workers and contractors as operational costs surge faster than gold prices. More >>
NZ dollar slips as Germany optimism dims, IMF growth warning
Tuesday, 25 September 2012, 9:03 am | BusinessDesk
Sept. 25 (BusinessDesk) - The New Zealand dollar declined after Germany business confidence weakened and the International Monetary Fund flagged a possible downgrade in its forecast for global economic growth. More >>
Kea announces commercial oil find at Puka, plans 2nd well
Tuesday, 25 September 2012, 8:36 am | BusinessDesk
Sept. 25 (BusinessDesk) - London-based New Zealand oil and gas explorer Kea Petroleum has announced a commercial oil discovery following flow-testing at its onshore Taranaki Puka-1 well, and is to commence a second well quickly to produce early cashflow. More >>
China’s wealth fund eyes New Plymouth-owned Tasmanian farms
Tuesday, 25 September 2012, 8:18 am | BusinessDesk
China’s wealth fund eyes New Plymouth-owned Tasmanian dairy farms seeking A$180M capital More >>
While you were sleeping: Germans lack confidence
Tuesday, 25 September 2012, 7:40 am | BusinessDesk
Sept 25 (BusinessDesk) – Wall Street was mixed as Apple failed to meet the demand for its iPhone5 model, while the latest data on German business confidence showed an unexpected decline. More >>
GCSB had no wire-tap warrant to spy of Dotcom, PM says
Monday, 24 September 2012, 6:10 pm | BusinessDesk
Sept. 24 (BusinessDesk) - The government intelligence agency that has admitted unlawfully spying was operating without a warrant when it undertook the operations relating to the Kim Dotcom case, virtually confirming the target was a foreign national rather ... More >>
MARKET CLOSE: NZ share fall, led by Nuplex
Monday, 24 September 2012, 6:03 pm | BusinessDesk
Sept. 24 (BusinessDesk) - New Zealand shares fell, led by Nuplex Industries, after the specialty chemicals maker said charges to consolidate its operations would dent 2013 profit. Hallenstein Glasson Holdings led a rally in retailers. More >>
Solid Energy cuts 25% of workforce as Spring Creek frozen
Monday, 24 September 2012, 5:43 pm | BusinessDesk
Solid Energy cuts a quarter of workforce as Spring Creek put in stasis, trims Huntly East workers More >>
NZ dollar falls as European jitters re-emerge
Monday, 24 September 2012, 5:39 pm | BusinessDesk
Sept. 24 (BusinessDesk) - The New Zealand dollar fell in local trading as re-emerging fears about the health of Europe's heavily indebted economies sapped investors' appetite for higher-yielding, or riskier, assets and pushed stocks down across Asia. More >>
Scott Technologies, Robotic JV win $11M Australian contract
Monday, 24 September 2012, 2:38 pm | BusinessDesk
Sept. 24 (BusinessDesk) - Scott Technologies and Robotic Technologies have won a contract to provide lamb deboning room automation for two Australian meat processes, valued at $11 million. More >>
UPDATE2: Nuplex plant closures, writedowns to cut '13 profit
Monday, 24 September 2012, 2:09 pm | BusinessDesk
(Adds company comment, estimate of job losses, adds detail of operations at Penrose being retained) By Jonathan Underhill More >>
PM orders inquiry on spooks 'unlawful' snooping into Dotcom
Monday, 24 September 2012, 1:35 pm | BusinessDesk
Sept. 24 (BusinessDesk) - Prime Minister John Key has ordered an inquiry into the nation's secretive intelligence agency, the Government Communications Security Bureau, amid allegations the unit's staff unlawfully acquired communications relating to ... More >>
