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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 1301]
MIDDAY UPDATE: NZ terms of trade fall
Monday, 3 September 2012, 12:03 pm | BusinessDesk
Sept. 3 (BusinessDesk) - New Zealand's terms of trade fell to the lowest level since the first quarter of 2010, with the biggest contribution coming from the fourth consecutive quarterly slide in dairy prices. More >>
NZ Dollar Outlook: Kiwi may fall as central banks eyed
Monday, 3 September 2012, 12:00 pm | BusinessDesk
Sept. 3 (BusinessDesk) - The New Zealand dollar may fall this week amid continued concern that global growth remains stalled, leaving central banks such as the Federal Reserve and European Central Bank in a key position to provide more stimulus. The ... More >>
Policy makers urged to ditch trans-Tasman double tax on divs
Monday, 3 September 2012, 11:40 am | 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 >>
Skellerup taps Rakon CFO Graham Leaming for same role
Monday, 3 September 2012, 11:36 am | BusinessDesk
Sept. 3 (BusinessDesk) - Skellerup Holdings, the industrial rubber products supplier that posted a record annual profit, has tapped Rakon executive Graham Leaming as its chief financial officer. More >>
NZ terms of trade falls to lowest since March 2010
Monday, 3 September 2012, 11:24 am | BusinessDesk
Sept. 3 (BusinessDesk) - New Zealand's terms of trade fell to the lowest level since the first quarter of 2010, with the biggest contribution coming from the fourth consecutive quarterly slide in dairy prices. More >>
UPDATED: Fletcher to sell Corys to Sonepar for almost $20M
Monday, 3 September 2012, 10:23 am | BusinessDesk
UPDATED: Fletcher agrees to sell Corys to Sonepar, bringing ex-Crane disposals to about $90 mln More >>
Fletcher agrees to sell ex-Crane unit Corys to Sonepar
Monday, 3 September 2012, 10:14 am | BusinessDesk
Fletcher agrees to sell Corys to Sonepar, bringing ex-Crane disposals to about $90 mln More >>
Tourism Holdings to acquire KEA, United in $69.5M merger
Monday, 3 September 2012, 10:06 am | BusinessDesk
Sept. 3 (BusinessDesk) - Tourism Holdings, the campervan rental company, will merge its New Zealand business with KEA Campers and United Campervans for $69.5 million of cash, shares and debt in a deal that will double per-share earnings in 2014. The ... More >>
Rural Equities profit jumps on rising farm values, pays div
Monday, 3 September 2012, 9:35 am | BusinessDesk
Sept. 3 (BusinessDesk) - Rural Equities, the farming group controlled by the Cushing family, boosted annual profit almost five-fold on rising farm valuations and resumed paying a dividend after taking a year off. More >>
Meridian commits to third Australian wind farm
Monday, 3 September 2012, 9:33 am | BusinessDesk
Sept. 3 (BusinessDesk) - Meridian Energy, one of the state-owned power companies slated for partial sale, is to start construction of its third wind farm in Australia, with the 131 megawatt Mt Mercer project in the state of Victoria. More >>
NZ dollar falls after China's manufacturing shrinks
Monday, 3 September 2012, 8:20 am | BusinessDesk
Sept. 3 (BusinessDesk) - The New Zealand dollar fell after manufacturing data out of China unexpectedly shrank for the first time in nine months, signaling further signs of a slowdown in the world's second-largest economy. More >>
World Week Ahead: Eyes on ECB's Draghi, US jobs
Monday, 3 September 2012, 7:09 am | BusinessDesk
Sept. 3 (BusinessDesk) - New week, different continent, but a similar focus as investors eye clues as to whether, and how, euro-zone policy makers will make good on a pledge to do whatever is needed to salvage the single currency. Expectations are high. Investors ... More >>
MARKET CLOSE: NZ shares rise, led by Xero, Air NZ, Trade Me
Friday, 31 August 2012, 5:34 pm | BusinessDesk
Aug. 31 (BusinessDesk) - New Zealand shares rose, led by Xero, Air New Zealand and Trade Me after the earnings season highlighted how many companies are managing to find growth in a tepid economy. The NZX 50 Index rose 37.11 points, or 1 percent, ... More >>
NZ dollar heads for 1.2% monthly decline before Jackson Hole
Friday, 31 August 2012, 5:18 pm | BusinessDesk
NZ dollar heads for 1.2% monthly decline as markets prepare for Jackson Hole summit More >>
MONEY TALKS: George Kerr's master plan, part three
Friday, 31 August 2012, 5:02 pm | BusinessDesk
Heartland New Zealand was a great idea. Finance companies' reputations were toxic after the sector went through collapse after collapse, and Pyne Gould needed to find a better home for its Marac unit. More >>
Capital + Merchant’s Nicholls, Douglas jailed for 7 ½ years
Friday, 31 August 2012, 4:51 pm | BusinessDesk
Aug. 31 (BusinessDesk) - Neal Nicholls and Wayne Douglas, directors of failed finance company Capital + Merchant Finance, have been jailed for 7 ½ years apiece for fraud, while their former chief executive, Owen Tallentire, got five years in prison. More >>
Appeal Court reinstates NZ cartel case against Visy Board
Friday, 31 August 2012, 4:12 pm | BusinessDesk
Aug. 31 (BusinessDesk) - The Court of Appeal has overturned a High Court ruling and reinstated the Commerce Commission’s case against Australia’s Visy Board and a former executive. More >>
Landcorp reports 36% drop in FY operating profit
Friday, 31 August 2012, 3:54 pm | BusinessDesk
Landcorp, the country's biggest farming company, said its operating profit fell 36 percent and is forecast to halve in the current year with prices expected to be generally lower. More >>
Zintel to return funds to shareholders, prepares to delist
Friday, 31 August 2012, 3:50 pm | BusinessDesk
Aug. 31 (BusinessDesk) - Zintel Group, the NZAX-listed telecommunications company which sold its subsidiary Cogent in July, will sell the rest of its businesses and pay out shareholders as it prepares to delist from the New Zealand stock exchange. More >>
SFO warns of ‘affinity fraud’ growth
Friday, 31 August 2012, 3:39 pm | BusinessDesk
Aug. 31 (BusinessDesk) - The Serious Fraud Office is seeing an increase in ‘affinity fraud’, where people have trusted friends or family with their investments and feel less inclined to put their money in finance companies that have lost the public’s ... More >>
