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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 1326]
MIDDAY UPDATE: NZ dollar surges on Draghi comments
Friday, 27 July 2012, 12:32 pm | BusinessDesk
July 27 (BusinessDesk) - The New Zealand dollar rose as high as 80.24 US cents after European Central Bank President Mario Draghi said policy makers will do whatever it takes to support the euro, helping stoke risk appetite worldwide. More >>
Dredging firm Boskalis to acquire up to 20% of Chatham Rock
Friday, 27 July 2012, 9:37 am | BusinessDesk
July 27 (BusinessDesk) - Royal Boskalis, one of the world’s biggest dredging companies, will acquire up to 20 percent of Chatham Rock Phophate in exchange for the first stage of its work on a project to extract the fertiliser chemical from the sea floor. More >>
OceanaGold 2Q profit plunges 82% on falling gold prices
Friday, 27 July 2012, 9:22 am | BusinessDesk
July 27 (BusinessDesk) - OceanaGold Corp, which operates the Macraes gold field near Dunedin, saw second-quarter profit plunge 82 percent as falling gold prices eroded earnings and led to a six-month loss. More >>
NZ dollar surges more than 1 US ct on Draghi's euro support
Friday, 27 July 2012, 9:00 am | BusinessDesk
NZ dollar surges more than 1 US cent as Draghi backs euro, stokes risk appetite More >>
While you were sleeping: Draghi boosts stocks, euro
Friday, 27 July 2012, 7:14 am | BusinessDesk
July 27 (BusinessDesk) – European Central Bank president Mario Draghi secured approval on both sides of the Atlantic with his promise that the central bank will do whatever needed to save the euro. More >>
Mainfreight sees lift in profit, moves to half-year reports
Thursday, 26 July 2012, 6:44 pm | BusinessDesk
July 26 (BusinessDesk) - High-performing New Zealand-based global freight business Mainfreight will move to half-yearly reporting as it seeks to shrug off market focus on quarterly earnings, influenced by the performance of particular markets. More >>
Comvita ready to pounce on potential acquisition targets
Thursday, 26 July 2012, 6:01 pm | BusinessDesk
July 26 (BusinessDesk) - Comvita, which makes products based on the virtues of manuka honey, is in a position to snap up any potential takeover targets, chief executive Brett Hewlett told shareholders at their annual meeting in Te Puke. More >>
MARKET CLOSE: NZ shares rise; Fletcher, Xero gain
Thursday, 26 July 2012, 5:58 pm | BusinessDesk
July 26 (BusinessDesk) - New Zealand shares gained in a rising tide of Asian equities amid optimism the US will take more steps to stimulate its economy, keeping global growth on pace. Fletcher Building, Telecom and Xero all rose. More >>
Xero mulls dual-listing on ASX, taps Silicon Valley director
Thursday, 26 July 2012, 5:56 pm | BusinessDesk
July 26 (BusinessDesk) - Xero, the cloud-based accounting software firm, is considering a dual-listing on Australia's stock exchange, and has put forward a Silicon Valley software firm executive as the latest addition to its board of directors. More >>
NZ dollar holds gains after RBNZ keeps rates unchanged
Thursday, 26 July 2012, 5:32 pm | BusinessDesk
July 26 (BusinessDesk) - The New Zealand dollar held gains in local trading after getting a leg up from the Reserve Bank decision to keep interest rates on hold inflation expected to speed up, even after last week's benign consumer prices figures. More >>
Origin loses NZ boss to start-up NZ Energy Corp
Thursday, 26 July 2012, 5:18 pm | BusinessDesk
July 26 (BusinessDesk) - Origin Energy, operator of the Kupe oil and gas field, is losing its New Zealand country manager Chris Bush to become chief executive of fast-growing Canadian onshore explorer and producer New Zealand Energy Corp. More >>
Nufarm expects underlying annual profit to rise by up to 18%
Thursday, 26 July 2012, 1:03 pm | BusinessDesk
July 26 (BusinessDesk) - Agricultural chemicals company Nufarm said it expects underlying annual net profit will be up between 12.1 percent and 18.2 percent on the previous year although year-end debt will be higher than last year. More >>
MIDDAY UPDATE: APN flags writedown on NZ intangible assets
Thursday, 26 July 2012, 12:15 pm | BusinessDesk
July 26 (BusinessDesk) - APN News & Media, publisher of the New Zealand Herald, says it expects to write down the value of intangible assets in New Zealand following a review of Australasian portfolio. More >>
Canada's Cervus expands in NZ in C$4.9M deal
Thursday, 26 July 2012, 11:43 am | BusinessDesk
July 26 (BusinessDesk) - Canada's Cervus Equipment Corp plans to shell out C$4.9 million in cash and shares to buy five John Deere dealerships in New Zealand and take full ownership of the local operation it already controls. More >>
From The Farm: What have farmers got to moan about?
Thursday, 26 July 2012, 11:08 am | BusinessDesk
It can’t be a shocker that farm profits will fall next year. Fonterra has already cut its payment forecast. Meat prices are down. Having ridden a boom, the farming sector may now feel the same economic forces as the rest of the tradable economy ... More >>
APN doesn't have undisclosed info to explain price fall
Thursday, 26 July 2012, 10:26 am | BusinessDesk
July 26 (BusinessDesk) - APN News & Media says it doesn't know of any unannounced information to explain its recent share price fall. More >>
Solid Energy suspends Spring Creek mine work after accident
Thursday, 26 July 2012, 10:08 am | BusinessDesk
July 26 (BusinessDesk) - Solid Energy, the state-owned coal miner being prepared for partial sale, has suspended underground operations at its Spring Creek Mine after a mineworker was injured on Wednesday. More >>
John Wilson named chairman-elect of Fonterra
Thursday, 26 July 2012, 10:03 am | BusinessDesk
July 26 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest exporter of dairy products, has named long-serving director John Wilson as its next chairman, replacing Henry van der Heyden. More >>
NZ dollar gains as OCR unchanged in 'less dovish' review
Thursday, 26 July 2012, 9:49 am | BusinessDesk
July 26 (BusinessDesk) - The New Zealand dollar rose against the greenback after the central bank kept the official cash rate unchanged as expected and stuck to its view from last month’s monetary policy statement, even after more benign inflation ... More >>
Bollard keeps OCR at 2.5%, sees more risk from Europe
Thursday, 26 July 2012, 9:04 am | BusinessDesk
July 26 (BusinessDesk) - Reserve Bank Governor Alan Bollard kept the official cash rate at 2.5 percent, saying the euro-zone's sovereign debt woes are hanging over New Zealand's trading partners and the bank is watching the region for any signs ... More >>
