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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 1331]
MIDDAY UPDATE: NZ dollar hits 80 US cents
Thursday, 19 July 2012, 12:11 pm | BusinessDesk
MIDDAY UPDATE: NZ dollar hits 80 US cents; Green groups last run at EEZ law More >>
Civic Assurance boss: 'everything will be fine'
Thursday, 19 July 2012, 12:04 pm | BusinessDesk
July 19 (BusinessDesk) - Questions from reinsurers that have prompted a possible downgrade warning for local government-owned Civic Assurance are "just a precautionary thing," says Civic chief executive Tim Sole. More >>
Green groups in last ditch effort to change new EEZ law
Thursday, 19 July 2012, 11:59 am | BusinessDesk
July 19 (BusinessDesk) - Green groups are mounting a last ditch attempt to modify new legislation governing New Zealand's ocean resources in the vast Exclusive Economic Zone to protect the marine environment from carte blanche offshore oil, gas and mining ... More >>
Genesis Research calls off proposed merger with Mariposa
Thursday, 19 July 2012, 9:26 am | BusinessDesk
July 19 (BusinessDesk) - Genesis Research and Development has called off its proposed merger with Australia-based Mariposa Health. More >>
Wellington Airport gouging from air service charges: Air NZ
Thursday, 19 July 2012, 9:19 am | BusinessDesk
July 18 (BusinessDesk) – Wellington International Airport, owned by Infratil and the capital city’s holding company, has extracted $100 million in excessive profits with its most recent price increases for airport services, says its biggest customer ... More >>
NZ dollar gains as Bernanke sees slow EU progress
Thursday, 19 July 2012, 9:01 am | BusinessDesk
July 19 (BusinessDesk) - The New Zealand dollar rose against the greenback and returned to record levels versus the euro after Federal Reserve chairman Ben Bernanke told the US House that Europe isn’t close to a long-term solution to its debt crisis ... More >>
Greenpeace, Te Whanau a Apanui appeal Petrobras decision
Thursday, 19 July 2012, 8:54 am | BusinessDesk
July 19 (BusinessDesk) - Environmental lobby group Greenpeace and East Coast iwi Te Whanau a Apanui have lodged an appeal against last month's High Court decision upholding Petrobras' deep sea oil exploration licence. More >>
While you were sleeping: Honeywell, Intel lift Wall Street
Thursday, 19 July 2012, 7:37 am | BusinessDesk
July 19 (BusinessDesk) – Wall Street advanced as earnings by Honeywell and Intel surpassed expectations, sparking relief that corporate profits are proving more resilient than initially feared. More >>
MARKET CLOSE: NZ shares mixed; Nuplex gains, Fletcher falls
Wednesday, 18 July 2012, 5:50 pm | BusinessDesk
July 18 (BusinessDesk) - New Zealand shares were mixed, with gainers and decliners evenly matched on the NZX 50 Index. Nuplex Industries rose as the government sought proposals for one of the biggest-ever paint tenders, while Fletcher Building slipped ... More >>
NZ dollar falls to 7-week low vs. Australian as rate view
Wednesday, 18 July 2012, 5:19 pm | BusinessDesk
NZ dollar falls to 7-week low vs. Australian as market bets on RBNZ rate cut More >>
Petricevic to spend another four months in jail over Medici
Wednesday, 18 July 2012, 5:05 pm | BusinessDesk
July 18 (BusinessDesk) - Former Bridgecorp managing director Rod Petricevic, 63, has had a further four months added to his existing six and a half-year jail sentence after he pleaded guilty to another four fraud charges. More >>
Hannah on SMEs: Is perfection possible?
Wednesday, 18 July 2012, 3:34 pm | BusinessDesk
July 18 (BusinessDesk) - Perfection is supposedly impossible, a state of flawlessness or completeness which haunts us with its apparent unattainability. So, how would it feel if you could be one step closer to achieving perfection? Obviously it'd feel, ... More >>
E-Gas liquidation prompts $17M of fraud charges
Wednesday, 18 July 2012, 3:28 pm | BusinessDesk
July 18 (BusinessDesk) - The directors of failed natural gas retailer E-Gas under-reported gas by some 950,000 gigajoules of consumption to commit frauds worth $17 million in total, the Serious Fraud Office alleges in charges filed in the Wellington District ... More >>
'Disappointing' Air NZ share price erodes urgency for sale
Wednesday, 18 July 2012, 3:05 pm | BusinessDesk
July 18 (BusinessDesk) - Air New Zealand's "disappointing" share price means the government won't be in a hurry to sell down its three-quarter stake in the national carrier, which is ready to go at any time. More >>
ChCh tradespeople form new lobby amid unease over rebuild
Wednesday, 18 July 2012, 12:34 pm | BusinessDesk
July 18 (BusinessDesk) – Tradespeople in Canterbury have formed a new lobby group amid concern the government’s management of the $20 billion-plus rebuild is slashing their earnings and favouring big business. More >>
MIDDAY UPDATE: Civic risks downgrade in insurance dispute
Wednesday, 18 July 2012, 12:04 pm | BusinessDesk
July 18 (BusinessDesk) - Local government insurer Civic Assurance faces a "potential dispute" with its reinsurers over $700 million-plus of reinsurance claims generated by the Christchurch earthquakes, leading credit rating agency A.M. Best to announce ... More >>
Civic Assurance risks downgrade as reinsurers' stoush looms
Wednesday, 18 July 2012, 11:38 am | BusinessDesk
July 18 (BusinessDesk) - Local government insurer Civic Assurance faces a "potential dispute" with its reinsurers over $700 million-plus of reinsurance claims generated by the Christchurch earthquakes, leading credit rating agency A.M. Best to announce ... More >>
Renaissance settles business sale, breaches banking covenant
Wednesday, 18 July 2012, 11:26 am | BusinessDesk
July 18 (BusinessDesk) - Renaissance Corporation said it has settled the sale of its distribution business to Exeed but has breached a banking covenant because some of the sale proceeds have been withheld. More >>
Bathurst back to High Court on climate change appeal
Wednesday, 18 July 2012, 10:54 am | BusinessDesk
July 18 (BusinessDesk) - Bathurst Resources, the West Coast coking coal miner, has failed in its bid to speed up the appeal started by environmental groups arguing climate change impacts should be considered in the granting of resource consents ... More >>
Bookbuild sets price for RVL's Metlifecare selldown at $2.20
Wednesday, 18 July 2012, 9:38 am | BusinessDesk
July 18 (BusinessDesk) - Metlifecare, the retirement village operator, has completed the bookbuild for the selldown of shares by its biggest shareholder, Retirement Villages New Zealand, at a 2.2 percent discount to their last trading price. More >>
