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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 1298]
Vodafone updates TelstraClear takeover, outlines savings
Thursday, 6 September 2012, 4:12 pm | BusinessDesk
Sept. 6 (BusinessDesk) - Vodafone New Zealand, the country's biggest mobile phone operator, has outlined where it expects cost savings in its $840 million acquisition of Telstra Corp's local unit in an updated notice to the anti-trust regulator. More >>
Wellingtonians lead NZ in posting bad online dining reviews
Thursday, 6 September 2012, 2:12 pm | BusinessDesk
Sept 6 (BusinessDesk) - Wellingtonians are the most likely group of New Zealanders to use online media to rate a negative dining experience, according to the latest nationwide American Express Dining Survey. More >>
Hawaiki goes public on fresh bid to build Pacific cable
Thursday, 6 September 2012, 1:43 pm | BusinessDesk
Sept. 6 (BusinessDesk) - Hawaiki Cable has publicly emerged as the latest player promising to build a trans-Pacific fibre optic cable after its plans were aired at last month's Polynesian Leaders' Group meeting. More >>
LIC offers semen credit to recipients of genetic defect
Thursday, 6 September 2012, 12:48 pm | BusinessDesk
Sept. 6 (BusinessDesk) - Livestock Improvement, the New Zealand farmer-owned company that sells bull semen and provides a dairy genetics database, said it will offer a credit for recipients of a genetic defect that caused so-called ‘hairy calves’ ... More >>
MIDDAY UPDATE: Jobless rate seen falling in election year
Thursday, 6 September 2012, 11:52 am | BusinessDesk
Sept. 6 (BusinessDesk) – New Zealand’s jobless rate is forecast to fall below 6 percent in 2014, the Ministry of Business, Innovation and Employment says in forecasts released this morning, with ageing baby boomers more than holding up their end in ... More >>
Comvita hits 5-yr high on early results from diabetes trial
Thursday, 6 September 2012, 11:22 am | BusinessDesk
Sept 6 (BusinessDesk) - Shares of Comvita rose 2.7 percent to a five-year high of $3.80 after a company statement detailed the results of medical research, yet to be peer-reviewed, showing its olive leaf extract boosts the effectiveness of insulin ... More >>
NZ unemployment below 6% in election year, says MBIE
Thursday, 6 September 2012, 10:42 am | BusinessDesk
Sept. 6 (BusinessDesk) – New Zealand’s jobless rate is forecast to fall below 6 percent in 2014, the Ministry of Business, Innovation and Employment says in forecasts released this morning, with ageing baby boomers more than holding up their end in ... More >>
NZ dollar falls to 2-mth low vs euro on ‘unlimited’ ECB plan
Thursday, 6 September 2012, 8:53 am | BusinessDesk
Sept. 6 (BusinessDesk) - The New Zealand dollar fell to the lowest level in more than two months against the euro after reports that European Central Bank President Mario Draghi will unveil plans for unlimited purchases of government debt, stoking ... More >>
While you were sleeping: ECB steps up to bat
Thursday, 6 September 2012, 7:36 am | BusinessDesk
Sept 6 (BusinessDesk) – Global shares have paused as investors await confirmation from the ECB on its bond-buying program with hope that the bank will act firmly enough to help put the EU's credit crisis in check. More >>
NZ's global competitiveness improves, Australia slips
Thursday, 6 September 2012, 7:08 am | BusinessDesk
Sept. 5 (BusinessDesk) - New Zealand's global competitiveness has improved two notches to 23rd in the long-running World Economic Forum survey of official data and 14,059 senior executives around the globe, including 55 New Zealand business leaders. More >>
NZF to exit Mike Pero Mortgages partnership with Liberty
Wednesday, 5 September 2012, 5:47 pm | BusinessDesk
NZF Group agrees to exit Mike Pero Mortgages partnership with Liberty Financial Sept. 5 (BusinessDesk) - NZF Group, the financial services firm at loggerheads with the receivers of its failed lending unit, has agreed to exit its Mike Pero Mortgages ... More >>
MARKET CLOSE: NZ shares fell; AMP sheds dividend
Wednesday, 5 September 2012, 5:42 pm | BusinessDesk
Sept. 5 (BusinessDesk) - New Zealand shares fell, with AMP leading stocks lower after adjusting for its dividend. NZX fell after reporting trading volumes were down last month. Fletcher Building was among declines by companies that get revenue in Australia. More >>
NZ dollar gains vs. Australian dollar as growth eyed
Wednesday, 5 September 2012, 5:09 pm | BusinessDesk
Sept. 5 (BusinessDesk) - The New Zealand dollar gained against its Australian counterpart after economic figures showed the pace of growth across the Tasman just skimming below expectations and concerns China’s demand for the nation's resources is slowing. More >>
Appeal court reserves judgment in Bridgecorp, Feltex cases
Wednesday, 5 September 2012, 4:23 pm | BusinessDesk
Sept. 5 (BusinessDesk) - The Court of Appeal has reserved its decision in the fight to free up director indemnity insurance to cover the cost of defending claims in the Bridgecorp receivership and Feltex Carpets class action. More >>
Fight for Bridgecorp $20M insurance cover hits appeal court
Wednesday, 5 September 2012, 2:23 pm | BusinessDesk
Sept. 5 (BusinessDesk) - The battle for Bridgecorp's $20 million insurance cover hit the Court of Appeal today, with the failed lender's receivers arguing their claim should trump legal fees when the pay-out is made. More >>
REPEAT:North Island Mussel Processors in receivership
Wednesday, 5 September 2012, 12:49 pm | BusinessDesk
Sept. 5 (BusinessDesk) - North Island Mussel Processors is being placed in receivership after the owner of its one-third shareholder, Greenshell Investments, failed to pay $1.2 million in processing fees and associated debt. More >>
North Island Mussel Processors put into receivership
Wednesday, 5 September 2012, 12:46 pm | BusinessDesk
Sept. 5 (BusinessDesk) - North Island Mussel Processors is being placed in receivership after the owner of its one-third shareholder, Greenshell Investments, failed to pay $1.2 million in processing fees and associated debt. More >>
Metro, North & South sold to Germans as Bauer buys ACP
Wednesday, 5 September 2012, 12:30 pm | BusinessDesk
Sept. 5 (BusinessDesk) - Metro and North & South, the Auckland-based magazines started in the 1980s, are getting new German owners after Bauer Media Group agreed to buy ACP Magazines from Sydney-based Nine Entertainment for a reported A$500 million. More >>
MIDDAY UPDATE: NZ building activity rises 0.8%
Wednesday, 5 September 2012, 12:07 pm | BusinessDesk
Sept. 5 (BusinessDesk) – Residential building in Canterbury helped lift New Zealand’s national building activity in the June quarter, according to Statistics New Zealand. More >>
Paymark lifts FY profit by 17% on cost control, rising sales
Wednesday, 5 September 2012, 12:04 pm | BusinessDesk
Sept. 5 (BusinessDesk) - Paymark, the electronic payments company owned by New Zealand’s four biggest banks, lifted full-year profit by 17 percent as revenue rose and it kept costs under control. More >>
