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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 1320]
NZ to nurse debt hangover for a while longer, Bollard says
Monday, 6 August 2012, 4:51 pm | BusinessDesk
Aug. 6 (BusinessDesk) - New Zealand may have to deal with the fallout of its increase in private sector debt for some time as the economy is constrained by weak growth in some of the world’s major economies, Reserve Bank Governor Alan Bollard says. More >>
Harvey Norman NZ FY sales fall 4% as group profit plunges
Monday, 6 August 2012, 3:37 pm | BusinessDesk
Aug. 6 (BusinessDesk) – Harvey Norman's New Zealand sales fell 4 percent in the latest financial year as the wider group's profit plunged on tough trading conditions in its electrical goods categories. More >>
Phantom NZ Dairies bidder cries foul over Fonterra purchase
Monday, 6 August 2012, 1:46 pm | BusinessDesk
Aug. 6 (BusinessDesk) - A phantom bidder claiming to have offered a better deal for New Zealand Dairies' South Canterbury milk powder plant is urging the antitrust regulator to investigate the sale process where Fonterra Cooperative Group emerged as the top ... More >>
Vital Healthcare portfolio value drops about 1.1%
Monday, 6 August 2012, 12:39 pm | BusinessDesk
Aug. 6 (BusinessDesk) - The value of Vital Healthcare Property Trust's portfolio has fallen about $6.2 million or 1.1 percent in the year ended June 30, led by a drop in the value of its Mercy Ascot Hospital in Auckland. More >>
MIDDAY UPDATE: Kiwi may rise; US drops 1 Sanford claim
Monday, 6 August 2012, 11:41 am | BusinessDesk
Aug. 6 (BusinessDesk) - The New Zealand dollar may extend gains from a three-month high this week on speculation Spain will prompt the European Central Bank to resume is bond-buying programme, boosting demand for risker-assets. More >>
ASX-listed PaperlinX buys Canterbury Packaging for A$2M
Monday, 6 August 2012, 11:38 am | BusinessDesk
Aug. 6 (BusinessDesk) - ASX-listed PaperlinX will spend A$2 million expanding its New Zealand operations by acquiring Canterbury Packaging, a fortnight after signalling its intention to quit Eastern Europe and South Africa. More >>
NZ Dollar Outlook: Kiwi may rise on Spanish bailout talk
Monday, 6 August 2012, 11:33 am | BusinessDesk
Aug. 6 (BusinessDesk) - The New Zealand dollar may extend gains from a three-month high this week on speculation Spain will prompt the European Central Bank to resume is bond-buying programme, boosting demand for risker-assets. More >>
Pacific Edge bladder test validation bodes well for US sales
Monday, 6 August 2012, 10:48 am | BusinessDesk
Aug. 6 (BusinessDesk) - Dunedin-based DNA diagnostic test business Pacific Edge has received independent clinical confirmation that its bladder cancer detection test is at least as effective as other methods. More >>
US withdraws US$24M proceeds of crime claim against Sanford
Monday, 6 August 2012, 9:50 am | BusinessDesk
Aug. 6 (BusinessDesk) - The US government has withdrawn one of the claims in its US Federal District Court case against fishing company Sanford, which is accused of illegal discharges and obstruction of justice related to a vessel operating out ... More >>
Property for Industry 1H earnings fall 4.9%
Monday, 6 August 2012, 9:18 am | BusinessDesk
Aug. 6 (BusinessDesk) - Property for Industry, whose management contract was sold to DPF Management last year, reported a 4.9 percent drop in first-half earnings after shrinking its portfolio, and warned the annual dividend will be smaller than a year ... More >>
NZ dollar rises to 3-month high as US labour market improves
Monday, 6 August 2012, 8:32 am | BusinessDesk
Aug. 6 (BusinessDesk) - The New Zealand dollar rose to a three month high against the greenback after US payrolls climbed more than forecast in July, boosting demand for riskier assets. More >>
Strikes showed Tauranga couldn't cope with Auckland freight
Monday, 6 August 2012, 7:50 am | BusinessDesk
Aug. 6 (BusinessDesk) - Stevedore strikes at Ports of Auckland showed Port of Tauranga couldn't cope with the sudden additional freight volumes sent down the coast, the Auckland port’s chief executive Tony Gibson says. More >>
World Week Ahead: Equities look to extend advance
Monday, 6 August 2012, 7:26 am | BusinessDesk
Aug. 6 (BusinessDesk) - Signs that European officials are making progress, albeit agonisingly slowly for investors, and signs that the US economy has some forward momentum, albeit in a low gear, may help propel global equities higher this week. ... More >>
MARKET CLOSE NZX50 falls, paced by Telecom as appeal quashed
Friday, 3 August 2012, 5:35 pm | BusinessDesk
Aug. 3 (BusinessDesk) - New Zealand shares fell, paced by Telecom, which has failed in an attempt to overturn a record $12 million fine for historic antitrust violations. NZX fell after reporting a decline in the value of cash market trading. More >>
Big emitters chasing cheap foreign carbon units: MfE data
Friday, 3 August 2012, 5:31 pm | BusinessDesk
Aug. 3 (BusinessDesk) - New Zealand's major emitters of greenhouse gases took advantage of the plummeting global price of carbon to offset their emissions in 2011, figures from the Ministry for the Environment show. More >>
Kiwi gains ahead of US employment, Spanish update
Friday, 3 August 2012, 5:07 pm | BusinessDesk
Aug 03 (BusinessDesk) - The New Zealand dollar gained in local trading ahead of US jobs figures which will likely show the unemployment rate is unchanged in the world's biggest economy, and as Spain's government prepares to make a public announcement ... More >>
S&P affirms NZ rating, fiscal strength offsets private debt
Friday, 3 August 2012, 3:59 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Rating agency Standard & Poor’s has affirmed New Zealand's AA rating, saying the Crown's strong balance sheet mitigates the nation's high level of private debt. More >>
UPDATED: Telecom mulls response as court upholds $12M fine
Friday, 3 August 2012, 3:40 pm | BusinessDesk
Aug. 3 (BusinessDesk) - Telecom Corp., the biggest company on the NZX 50 Index, is reviewing the Court of Appeal’s decision affirming a record High Court-imposed fine of $12 million for breaches of competition law through the misuse of market ... More >>
High Court gives Perpetual 10 days to sort out funds
Friday, 3 August 2012, 3:31 pm | BusinessDesk
Aug. 3 (BusinessDesk) - The High Court has given Pyne Gould Corp subsidiary Perpetual Trust 10 working days to come up with a plan to liquidate one fund and internalise another. More >>
MONEY TALKS: Earnings season as share-watchers' sport
Friday, 3 August 2012, 3:27 pm | BusinessDesk
MONEY TALKS: Earnings season the perfect time to sneak a peek at the stock exchange More >>
