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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 1300]
CSR NZ, Brickworks seek merger in face of building downturn
Tuesday, 4 September 2012, 10:38 am | BusinessDesk
Sept. 4 (BusinessDesk) – The New Zealand unit of Australian building materials company CSR has sought antitrust clearance to merge its bricks business with that of smaller rival Brickworks Building Products (NZ), saying demand has “plummeted” ... More >>
Rebstock named chair of new ACC board after government purge
Tuesday, 4 September 2012, 9:55 am | BusinessDesk
Sept. 4 (BusinessDesk) – Paula Rebstock will add to her workload as a busy fix-it person for the government after being named as the chair of a revamped Accident Compensation Corp board. More >>
Tower downgrades profit guidance, completes strategic review
Tuesday, 4 September 2012, 9:16 am | BusinessDesk
Sept. 4 (BusinessDesk) - Tower, the insurance company that’s about one third owned by Guinness Peat Group, has downgraded its annual profit expectations because of the impact of Christchurch earthquake claims and concluded a strategic review. More >>
While you were sleeping: Weak manufacturing signals help
Tuesday, 4 September 2012, 9:06 am | BusinessDesk
Sept 4 (BusinessDesk) - European equities advanced as data on manufacturing output from both the euro zone and China bolstered hopes that policy makers will act soon to help accelerate economic activity. More >>
EPIC fund appoints Murray Tonkin as new chairman
Tuesday, 4 September 2012, 9:04 am | BusinessDesk
Sept. 4 (BusinessDesk) - Equity Partners Infrastructure Co, which paid Pyne Gould $8.9 million to terminate its management of the fund, has appointed former Auckland International Airport and Foodstuffs finance chief Murray Tonkin as its new chairman. More >>
NZ dollar falls to 2-mth low vs euro as Draghi backs action
Tuesday, 4 September 2012, 9:03 am | BusinessDesk
NZ dollar falls to 2-month low vs euro as Draghi stokes ECB action talk More >>
Guinness Peat to start 10M pound share buyback this week
Tuesday, 4 September 2012, 9:01 am | BusinessDesk
Sept. 4 (BusinessDesk) - Guinness Peat Group, which now counts billionaire George Soros as a substantial shareholder, will kick off its share buyback this week. More >>
MRP float delay to cost between $5 million and $10 million
Monday, 3 September 2012, 5:58 pm | BusinessDesk
Sept. 3 (BusinessDesk) - Delaying the partial privatisation of MightyRiverPower will cost the government between $5 million and $10 million, Prime Minister John Key said. More >>
REPEAT: MARKET CLOSE: NZ shares rise; Pumpkin Patch gains
Monday, 3 September 2012, 5:55 pm | BusinessDesk
Sept. 3 (BusinessDesk) - New Zealand shares rose, led retailers such as Pumpkin Patch, Kathmandu and Warehouse Group on optimism they've managed to keep costs under control in a competitive market for the consumer dollar. Tourism Holdings soared on merger ... More >>
MARKET CLOSE: NZ shares rise; Pumpkin Patch, retailers gain
Monday, 3 September 2012, 5:49 pm | BusinessDesk
Sept. 3 (BusinessDesk) - New Zealand shares rose, led retailers such as Pumpkin Patch, Kathmandu and Warehouse Group after earnings season showed they’ve managed to keep costs under control if a competitive market for the consumer dollar. Tourism Holdings ... More >>
NZ dollar gains vs. Australian dollar after weak retailing
Monday, 3 September 2012, 5:19 pm | BusinessDesk
Sept. 3 (BusinessDesk) - The New Zealand dollar gained against its Australian counterpart after figures showed dwindling retail sales across the Tasman and as China, Australia's biggest buyer of raw materials, reported tepid manufacturing activity. More >>
MightyRiverPower IPO delayed until 2013 for iwi talks
Monday, 3 September 2012, 4:27 pm | BusinessDesk
Sept. 3 (BusinessDesk) - The government has delayed the partial sale of MightyRiverPower until between March and June next year, giving it time for more talks with iwi on a proposal that would give Maori greater rights than other shareholders. More >>
SNAP: Govt delays MightyRiverPower sale to next year
Monday, 3 September 2012, 4:00 pm | BusinessDesk
Prime Minister John Key has announced the partial privatisation of MightyRiverPower will occur between March and June next year. More >>
CORRECT:Policy makers to ditch trans-Tasman divs' double tax
Monday, 3 September 2012, 3:31 pm | BusinessDesk
Sept. 3 (BusinessDesk) - New Zealand business lobbyists are urging policy makers to ditch the double taxation of dividend returns that cross the Tasman, saying it deters investment and holds back economic growth. More >>
Investors see NZ as 'too green' for coal projects: Bathurst
Monday, 3 September 2012, 3:21 pm | BusinessDesk
Sept 3 (BusinessDesk) - Resource consents have cost would-be opencast coking coal miner Bathurst Resources $15 million so far, with a month of appeal hearings still to come and the potential for further challenges. More >>
State-owned TVNZ trims dividend as programming costs rise
Monday, 3 September 2012, 3:10 pm | BusinessDesk
Sept 3 (BusinessDesk) - State-owned broadcaster Television New Zealand paid a smaller-than-expected dividend to the government as more-expensive foreign programming eroded the company's underlying earnings. More >>
Greenpeace NZ to appeal 2011 ruling against charity status
Monday, 3 September 2012, 2:17 pm | BusinessDesk
Sept. 3 (BusinessDesk) - Greenpeace of New Zealand is appealing a High Court ruling last year that blocked its application to register as a charity because it was too political and its protests could land it on the wrong side of the law. More >>
Tourism Holdings shares surge on prospects for merger
Monday, 3 September 2012, 2:08 pm | BusinessDesk
Sept. 3 (BusinessDesk) - Shares in Tourism Holdings rose to a six-month high after the NZX-listed campervan rental company said it will acquire KEA Campers and United Campervans in a $69.5 million deal that will double its per-share earnings in 2014. More >>
FMA gives guidance on non-standard earnings measures
Monday, 3 September 2012, 12:45 pm | BusinessDesk
Sept. 3 (BusinessDesk) - The Financial Markets Authority has issued a guidance note for companies using non-standard earnings measures when making public announcements. More >>
Sky TV content agreements need more investigation: regulator
Monday, 3 September 2012, 12:09 pm | BusinessDesk
Sept. 3 (BusinessDesk) - The Commerce Commission says it needs to dig a little deeper into pay-TV operator Sky Network Television's content arrangements with internet service providers after completing the first stage of its investigation. More >>
