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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 1328]
MARKET CLOSE: NZ shares fall as Xero retreats from record
Tuesday, 24 July 2012, 5:39 pm | BusinessDesk
July 24 (BusinessDesk) - New Zealand shares fell as cloud-based accounting firm Xero extended its drop from a record and fishing company Sanford declined on reports the US wants to make orange roughy an endangered species. More >>
Torchlight pays out Perpetual loan, plus $6M fee
Tuesday, 24 July 2012, 5:39 pm | BusinessDesk
July 24 (BusinessDesk) - Torchlight Fund No 1 LP, an entity managed by Pyne Gould boss George Kerr, has made the last $3.5 million repayment of a loan that raised the ire of the market watchdog. More >>
NZ dollar rises on better Chinese manufacturing, upbeat RBA
Tuesday, 24 July 2012, 5:08 pm | BusinessDesk
July 24 (BusinessDesk) - The New Zealand dollar rallied in local trading after an economic indicator showed Chinese manufacturing may improve this month, and as Australian central bank Governor Glenn Stevens gave an upbeat appraisal of his nation's economy. More >>
AMP Capital NZ cut costs in 2011, parent may ask for more
Tuesday, 24 July 2012, 3:43 pm | BusinessDesk
July 24 (BusinessDesk) - AMP Capital Investors (New Zealand), which manages about $16 billion of assets, sharpened its cost-base in the 2011 calendar year, but may have to strip out more as its parent embarks on an efficiency drive. More >>
Transpower fingered in regulator's list for telco levy
Tuesday, 24 July 2012, 12:56 pm | BusinessDesk
July 24 (BusinessDesk) - State-owned electricity grid operator Transpower New Zealand may have to stump up funds for an annual levy to pay for commercially non-viable telecommunications services, though pay-television operator Sky Network Television ... More >>
NZ Refining appoints Shell's Sjoerd Post as new CEO
Tuesday, 24 July 2012, 12:25 pm | BusinessDesk
July 24 (BusinessDesk) - The New Zealand Refining Company has appointed a senior Shell executive, Sjoerd Post, as chief executive to suceed Ken Rivers. More >>
Government takes controlling stake in Auckland redevelopment
Tuesday, 24 July 2012, 12:13 pm | BusinessDesk
July 24 (BusinessDesk) - The government and Auckland City are jointly investing $8.5 million in a new commercial entity to guide the plans to transform the lower socio-economic suburbs of Glen Innes and Panmure over the next 20 years. More >>
MIDDAY UPDATE: Champ Private Equity to sell Blue Star unit
Tuesday, 24 July 2012, 12:05 pm | BusinessDesk
July 24 (BusinessDesk) - Champ Private Equity, the Sydney-based buyout firm, has hired Goldman Sachs to sell its indebted printer Blue Star Group after receiving unsolicited approaches to buy the business in June. More >>
NZ state employees ‘disengaged,’ Right Management says
Tuesday, 24 July 2012, 12:00 pm | BusinessDesk
July 24 (BusinessDesk) – New Zealand’s public sector is struggling to engage its employees amid anxiety over looming job cuts as the government looks to reduce costs, according to Right Management’s Engagement Benchmarking survey. More >>
Champ Private Equity hires Goldman Sachs to sell Blue Star
Tuesday, 24 July 2012, 11:55 am | BusinessDesk
July 24 (BusinessDesk) - Champ Private Equity, the Sydney-based buyout firm, has hired Goldman Sachs to sell its indebted printer Blue Star Group after receiving unsolicited approaches to buy the business in June. More >>
NZ investors in PIP Fund reap $1.1M on Melbourne refinancing
Tuesday, 24 July 2012, 11:24 am | BusinessDesk
July 24 (BusinessDesk) - Retail investors in the Morrison & Co-managed Public Infrastructure Fund got a return of $1.1 million from the refinancing of Melbourne's convention centre, just two years after its initial investment. More >>
Govt and biggest businesses still the slowest payers: D&B
Tuesday, 24 July 2012, 11:22 am | BusinessDesk
July 24 (BusinessDesk) - Large businesses and public sector organisations remain the slowest to pay their bills, while small businesses and Christchurch firms have picked up their game, says credit checking agency Dun & Bradstreet. More >>
NZ dollar falls below 79 cts as Spanish yields hit record
Tuesday, 24 July 2012, 8:55 am | BusinessDesk
NZ dollar falls below 79 US cts as Spanish bond yields hit record on fears of further contagion More >>
While you were sleeping: Spain, McDonald's sink stocks
Tuesday, 24 July 2012, 7:20 am | BusinessDesk
July 24 (BusinessDesk) – Equities slumped on concern that Europe's crisis is deepening as one region of Spain called for financial assistance and others are expected to follow soon, prompting fears the euro zone's fourth-largest economy might need a ... More >>
nfratil seeks third annual increase in fee pool for board
Monday, 23 July 2012, 6:48 pm | BusinessDesk
July 23 (BusinessDesk) - Infratil, the infrastructure investment firm, is seeking a 3.7 percent increase in the pool of fees for its board and hikes for directors of its subsidiaries. More >>
MARKET CLOSE: NZ shares mixed; Diligent gains, GFF drops
Monday, 23 July 2012, 6:04 pm | BusinessDesk
New Zealand shares were mixed, with the NZX 50 Index eking out a 0.04 percent gain, as Freightways and Diligent Board Member Services extended their advance and Goodman Fielder fell after giving guidance. More >>
Asset sales loyalty scheme will cost taxpayers unknown sum
Monday, 23 July 2012, 5:58 pm | BusinessDesk
July 23 (BusinessDesk) - The proposed loyalty scheme for retail investors who hold onto shares in part-privatised power companies will reduce the government's take from its asset sales programme by an unspecified sum. More >>
NZ dollar falls; Spanish woes erode confidence for recovery
Monday, 23 July 2012, 5:47 pm | BusinessDesk
July 23 (BusinessDesk) - The New Zealand dollar fell in local trading as Spain's deepening debt crisis eroded investor confidence in the global recovery and sapped appetite for riskier, or higher-yielding, assets. More >>
Dorchester Pacific offers to buy back NZDX-listed notes
Monday, 23 July 2012, 5:26 pm | BusinessDesk
Dorchester Pacific offers to buy back NZDX-listed notes before due date at 92 cents apiece More >>
IRD defends power to snoop in bedrooms
Monday, 23 July 2012, 4:52 pm | BusinessDesk
July 23 (BusinessDesk) - The Inland Revenue Department defended its right to use wide-ranging search powers that included snooping in a bedroom in its dispute with Auckland businessmen Andrew Tauber and Paul Webb. More >>
