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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 1332]
NZ mobile phone rules stoke rivalry, cut prices: regulator
Wednesday, 18 July 2012, 9:16 am | BusinessDesk
July 18 (BusinessDesk) - New Zealand consumers are enjoying the benefits of a more competitive mobile phone market with cheaper cross-network calls and text messaging since the Commerce Commission forced carriers to cut the rates they charge each other ... More >>
NZ dollar falls as Bernanke shifts focus to unemployment
Wednesday, 18 July 2012, 8:47 am | BusinessDesk
July 18 (BusinessDesk) - The New Zealand dollar fell after Federal Reserve Chairman Ben Bernanke told the US congress that the central bank is prepared to act to boost growth if the labour market doesn’t improve, without giving a clear signal on the ... More >>
While you were sleeping: Bernanke's stimulus hedge
Wednesday, 18 July 2012, 7:49 am | BusinessDesk
July 18 (BusinessDesk) – US Federal Reserve Chairman Ben Bernanke's testimony to Congress provided little in the way of new details about plans to stimulate the pace of recovery. Even so, investors took solace in Bernanke's comments that policy makers ... More >>
Whole milk powder leads decline in latest GDT sale
Wednesday, 18 July 2012, 7:20 am | BusinessDesk
July 18 (BusinessDesk) - Whole milk powder, the biggest-volume dairy product sold through Fonterra’s GlobalDairyTrade platform, led the third month of declines, pushing the benchmark composite price further below its long-term average. More >>
NZ Windfarms performs below forecast in 4Q of full operation
Tuesday, 17 July 2012, 6:10 pm | BusinessDesk
July 17 (BusinessDesk) - Tararua Ranges wind energy generator New Zealand Windfarms enjoyed much higher electricity prices in its fourth quarter of full operations than in its first full half year, but generated less than the average of the first two ... More >>
Rural Equities sells two more properties for $8M
Tuesday, 17 July 2012, 5:59 pm | BusinessDesk
July 17 (BusinessDesk) - Rural Equities, the farming group controlled by the Cushing family, sold two properties for almost $8 million as part of last year's strategic review. More >>
MARKET CLOSE: NZ shares gain led by tech stocks Xero, DIL
Tuesday, 17 July 2012, 5:51 pm | BusinessDesk
July 17 (BusinessDesk) - New Zealand shares rose paced by tech stocks, Xero and Diligent Board Member Services as the new entrants to the benchmark index confirmed their global expansion continues. More >>
NZ dollar gains as RBA minutes downplay rate cuts
Tuesday, 17 July 2012, 5:18 pm | BusinessDesk
NZ dollar gains as RBA minutes play down chance of further rate cuts, Bernanke looms More >>
AMP Capital increases bets on global growth
Tuesday, 17 July 2012, 5:17 pm | BusinessDesk
July 17 (BusinessDesk) - AMP Capital Investors (New Zealand), which manages $12 billion worth of assets, has increased its bets on global growth, favouring share valuations even after bonds outperformed equities in the second quarter. More >>
Z issues $135M in seven year bonds
Tuesday, 17 July 2012, 5:16 pm | BusinessDesk
July 17 (BusinessDesk) - Z Energy is to issue $135 million of senior, secured seven year corporate bonds, some $35 million above the $100 million sought, but below the upper limit for acceptances of $150 million. More >>
OceanaGold investigates death at Didipio mine
Tuesday, 17 July 2012, 1:48 pm | BusinessDesk
July 17 (BusinessDesk) - OceanaGold, which operates the Macraes gold mine near Dunedin, is investigating the death of a contract worker at its Didipio mine project in the Philippines. More >>
Argosy reaches $10M insurance settlement on Chch property
Tuesday, 17 July 2012, 12:19 pm | BusinessDesk
July 17 (BusinessDesk) - Argosy Property said it has reached a $10 million insurance settlement on its quake-hit Foundry Drive, Christchurch property. More >>
Swap rates fall as tepid inflation cools case for rate hike
Tuesday, 17 July 2012, 12:13 pm | BusinessDesk
July 17 (BusinessDesk) - The New Zealand dollar and swap rates fell as the nation's tepid inflation figures may push out the timing of future interest rate hikes as household demand remains weak. More >>
MIDDAY UPDATE: Pace of inflation slows in second quarter
Tuesday, 17 July 2012, 12:10 pm | BusinessDesk
July 17 (BusinessDesk) - New Zealand consumer prices rose less than expected in the second quarter for the slowest annual pace since December 1999, as cheaper telecommunication prices offset the rising cost of electricity and rentals. More >>
NZ CPI slows to 0.3% in 2Q, slowest annual rate since '99
Tuesday, 17 July 2012, 10:58 am | BusinessDesk
July 17 (BusinessDesk) - New Zealand consumer prices less than expected in the second quarter for the slowest annual pace since December 1999, as cheaper telecommunication prices offset the rising cost of electricity and rentals. More >>
Diligent's June quarter sales almost triple
Tuesday, 17 July 2012, 10:14 am | BusinessDesk
July 17 (BusinessDesk) - Software company Diligent Board Member Services' sales momentum continued in the June quarter in which it says it made an operating profit for a fourth successive quarter. More >>
Vector appoints Beddoe as chief risk officer
Tuesday, 17 July 2012, 9:21 am | BusinessDesk
July 17 (BusinessDesk) - Vector, the Auckland gas, electricity and telecommunications networks owner, has appointed Kate Beddoe as chief risk officer, effective July 30. More >>
Metlifecare shares in trading halt for book build
Tuesday, 17 July 2012, 9:16 am | BusinessDesk
July 17 (BusinessDesk) - Metlifecare, the retirement village operator, has placed its shares in a trading halt while a sell-down by the company's biggest shareholder, Retirement Villages New Zealand, is completed. More >>
GPG accepts haberdashery ruling, sells third British brewer
Tuesday, 17 July 2012, 9:09 am | BusinessDesk
July 17 (BusinessDesk) - Guinness Peat Group, the investment company winding up its portfolio, won't make any further appeal over a European General Court decision that imposed a 110 million euro fine, and separately sold out of its third British brewer ... More >>
PGC repays $22M in bank debt from asset sales
Tuesday, 17 July 2012, 8:54 am | BusinessDesk
PGC repays $22M in bank debt from asset sales, will give strategy update this week More >>
