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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 1334]
MIDDAY UPDATE: Greenpeace NZ profit drops
Friday, 13 July 2012, 12:14 pm | BusinessDesk
July 13 (BusinessDesk) - Greenpeace New Zealand, the local arm of the environmental lobby group, posted a 69 percent drop in full-year profit after it made a bigger payout to its global parent and reaped less from donations. More >>
Court orders outside observers for Perpetual funds
Friday, 13 July 2012, 12:10 pm | BusinessDesk
July 13 (BusinessDesk) - The High Court has ordered two independent observers to keep tabs on Perpetual Trust's cash management and mortgage funds amid concerns over related party loans, and ahead of a substantial hearing early next month. More >>
Somers-Edgar’s Orange Finance faces receivership
Friday, 13 July 2012, 11:37 am | BusinessDesk
July 13 (BusinessDesk) - Orange Finance, the lender owned by Doug Somers-Edgar and managed by his Matrix Funding Group, expects receivers will be appointed at the end of the month when its three-and-a-half year moratorium draws to a close. More >>
Greenpeace NZ profit drops on global payout, less donations
Friday, 13 July 2012, 11:03 am | BusinessDesk
July 13 (BusinessDesk) – Greenpeace New Zealand, the local arm of the environmental lobby group, posted a 69 percent drop in full-year profit after it made a bigger payout to its global parent and reaped less from donations. More >>
NZ dollar falls as markets prepare for slower Chinese growth
Friday, 13 July 2012, 8:35 am | BusinessDesk
July 13 (BusinessDesk) - The New Zealand dollar fell ahead of today's Chinese gross domestic product figures, which will likely show growth in the world's second-biggest economy slowed in the second quarter, and sapping demand for assets linked to China's ... More >>
While you were sleeping: Wall Street falls on economy
Friday, 13 July 2012, 7:35 am | BusinessDesk
July 13 (BusinessDesk) – Wall Street extended declines amid concern that the economic outlook is darkening, which will be reflected in corporate earnings. More >>
MARKET CLOSE: NZ shares rise, led by GPG, Heartland NZ
Thursday, 12 July 2012, 5:56 pm | BusinessDesk
July 12 (BusinessDesk) - New Zealand shares rose as merger and acquisition activity lifted Guinness Peat Group and Telstra. Heartland New Zealand rose after an overhang of shares was sold. More >>
NZ dollar falls after unexpected rise in Australian jobless
Thursday, 12 July 2012, 5:13 pm | BusinessDesk
July 12 (BusinessDesk) - The New Zealand dollar followed its Australian counterpart lower in local trading after figures showed unemployment unexpectedly rose across the Tasman last month. More >>
Fulton Hogan delays share buyback, cites Australian contract
Thursday, 12 July 2012, 4:39 pm | BusinessDesk
July 12 (BusinessDesk) - Fulton Hogan, the privately-owned construction company, has put off its share buyback plan as problems on an Australian project and a potential acquisition loom over its annual share valuation. More >>
CORRECT: Ben Gough takes control in family business
Thursday, 12 July 2012, 3:52 pm | BusinessDesk
July 11 (BusinessDesk) - Ben Gough, the grandson of a co-founder of Gough Group, has built up a controlling stake in the Christchurch-based equipment and machinery supplier. More >>
Joyce launches Advanced Technology Institute
Thursday, 12 July 2012, 2:33 pm | BusinessDesk
July 12 (BusinessDesk) - Science and Innovation Minister Steven Joyce has announced the structure of the government's flagship innovation body, the Advanced Technology Institute, designed to help get innovative ideas out of the lab and into the marketplace. More >>
UPDATED: GPG spurns A$220M takeover bid for ClearView
Thursday, 12 July 2012, 2:28 pm | BusinessDesk
July 12 (BusinessDesk) - Guinness Peat Group has spurned a A$220 million full takeover bid for ClearView Wealth, the investment firm's second biggest asset, saying the price is "wholly inadequate" in a deal that would install former GPG director ... More >>
NZ consumers less confident about future than today
Thursday, 12 July 2012, 1:54 pm | BusinessDesk
July 12 (BusinessDesk) - New Zealand consumers have become less confident about the outlook than they are about current economic conditions for the first time since 2008 though sentiment improved in July from June. More >>
GPG shares gain after A$220M takeover bid for ClearView
Thursday, 12 July 2012, 1:24 pm | BusinessDesk
July 12 (BusinessDesk) - Shares in Guinness Peat Group rose 2.2 percent after a A$220 million bid was made for ClearView Wealth, the investment firm's second-biggest asset. More >>
Skyline Enterprises says distributable profit rose 25%
Thursday, 12 July 2012, 1:23 pm | BusinessDesk
July 12 (BusinessDesk) - Skyline Enterprises, the Queenstown-based tourism company whose shares trade on the Unlisted platform, said its so-called distributable profit rose 25 percent, allowing it to lift its dividend. More >>
MIDDAY UPDATE: Vodafone agrees to buy TelstraClear
Thursday, 12 July 2012, 11:59 am | BusinessDesk
July 12 (BusinessDesk) - Vodafone has agreed to acquire Telstra’s New Zealand business, TelstraClear, for $840 million, giving the British company a stronger base from which to challenge Telecom. More >>
NZ manufacturing activity slows in June, PMI shows
Thursday, 12 July 2012, 11:28 am | BusinessDesk
July 12 (BusinessDesk) - New Zealand's manufacturing sector fell in June, shedding last month's gains, though activity continued to expand. More >>
NZ food prices rise 1.4% in June, biggest monthly gain in 12
Thursday, 12 July 2012, 11:27 am | BusinessDesk
July 12 (BusinessDesk) - New Zealand food prices had their biggest gain in 12 months in June, reflecting higher seasonal prices for tomatoes and other fresh produce and the biggest recorded jump for chocolate. More >>
Carter Group boss picks up Torchlight stake in Heartland
Thursday, 12 July 2012, 11:03 am | BusinessDesk
July 12 (BusinessDesk) - Philip Carter, of Christchurch property investor Carter Group, has emerged as a major investor in would-be bank Heartland New Zealand after buying an $8 million stake from Pyne Gould's Torchlight Investment Group yesterday. More >>
Vodafone agrees to buy TelstraClear in NZ for $840M
Thursday, 12 July 2012, 11:01 am | BusinessDesk
July 12 (BusinessDesk) - Vodafone has agreed to acquire Telstra’s New Zealand business, TelstraClear, for $840 million, giving the British company a stronger base from which to challenge Telecom. More >>
