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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 1338]
PGC's Torchlight sells down Heartland stake
Friday, 6 July 2012, 12:40 pm | BusinessDesk
July 6 (BusinessDesk) - Pyne Gould Corp's Torchlight Securities today sold down about one-fifth of its stake in would-be bank Heartland New Zealand as it faces an investigation by the market regulator over its related party loans. More >>
MIDDAY UPDATE: PGC sells Heartland shares; big PGW sales
Friday, 6 July 2012, 12:14 pm | BusinessDesk
July 6 (BusinessDesk) – Unusually large volumes of PGG Wrightson and Heartland New Zealand shares have changed hands in morning trading on the NZX this morning. Both companies have counted Pyne Gould Corp., under a cloud over related party lending, ... More >>
Westland Dairy cuts forecast 2012 milk prices
Friday, 6 July 2012, 11:26 am | BusinessDesk
July 6 (BusinessDesk) - Westland Dairy Products, the New Zealand dairy cooperative competing with Fonterra, has cut its forecast 2012 milk price, mirroring a global side in dairy prices and a volatile New Zealand dollar. More >>
NZ corporate tax-take to beat expectations this year
Friday, 6 July 2012, 10:34 am | BusinessDesk
July 6 (BusinessDesk) - New Zealand's corporate tax-take is set to beat expectations this year as the government reaps more from Portfolio Investment Entities than anticipated, though it faces mounting insurance liabilities from its Accident Compensation Corporation ... More >>
Christchurch rents leap 26%, national rents up 4%: Trade Me
Friday, 6 July 2012, 10:27 am | BusinessDesk
July 6 (BusinessDesk) - Rents in Christchurch have sky-rocketed 26 percent in the past year while nationally rents are up just 4%, according to Trade Me Property's analysis for the three months ended June compared with the same quarter last year. More >>
Adidas NZ returns to profit on RWC, first time since 2007
Friday, 6 July 2012, 10:18 am | BusinessDesk
July 6 (BusinessDesk) - Adidas New Zealand, a subsidiary of the world's second-biggest sporting goods maker, returned a profit last year for the first time since 2007 after the Rugby World Cup helped lift sales. More >>
Pharmacybrands to lift directors' fees
Friday, 6 July 2012, 9:47 am | BusinessDesk
July 06 (BusinessDesk) - Pharmacybrands, the retail pharmacy and medical centre company, will ask shareholders to approve a 22 percent hike in its pool for directors' fees and sign off on the implementation of a dividend reinvestment plan at next month's ... More >>
Speirs seeks liquidation of Alloway’s Allied Capital
Friday, 6 July 2012, 8:28 am | BusinessDesk
July 6 (BusinessDesk) - Speirs Group, the NZAX-listed food group that sold its finance unit to Allied Farmers in 2008, is seeking to liquidate a company controlled by Allied’s former managing director Rob Alloway to recoup the value of preference shares. More >>
NZ dollar hits new record-high vs euro after ECB cuts rates
Friday, 6 July 2012, 8:20 am | BusinessDesk
July 6 (BusinessDesk) - The New Zealand dollar hit a record-high versus the euro and a multi-month high against the greenback after central banks in Europe, England and China eased borrowing costs on concerns about the global outlook. More >>
While you were sleeping: Central banks highlight worry
Friday, 6 July 2012, 7:36 am | BusinessDesk
July 6 (BusinessDesk) – Efforts by central banks in Europe, China and the UK to help bolster their flagging economies by easing the cost of borrowing only served to highlight concerns about the outlook. More >>
MARKET CLOSE: NZ shares edge up; retailers gain
Thursday, 5 July 2012, 6:07 pm | BusinessDesk
July 5 (BusinessDesk) - New Zealand shares rose, led by retailers with stores in Australia such as Kathmandu and Pumpkin Patch after figures this week showed stronger-than-expected consumer spending across the Tasman. More >>
NZ dollar slips ahead of central bank meetings in Europe
Thursday, 5 July 2012, 5:46 pm | BusinessDesk
July 5 (BusinessDesk) - The New Zealand dollar slipped in local trading as investors' appetite for riskier assets dimmed in the lead-up to central bank meetings in Europe which are expected to add more monetary stimulus to the indebted region. More >>
PGC says no decision made to shift to ASX, ditch Perpetual
Thursday, 5 July 2012, 5:44 pm | BusinessDesk
July 5 (BusinessDesk) - Pyne Gould Corp, which is being investigated by the markets regulator over related-party loans, says no decision has been made on whether to relocate to the ASX and divest its Perpetual Trust. More >>
PGC shares halted after report it will shift listing to ASX
Thursday, 5 July 2012, 4:57 pm | BusinessDesk
July 5 (BusinessDesk) - Pyne Gould Corp, which is being investigated by the markets regulator over related-party loans, had its stock halted from trading pending an announcement after a media report it will relocate to the ASX and divest its Perpetual ... More >>
Z Energy seeks up to $150 million bond offer to repay debt
Thursday, 5 July 2012, 2:59 pm | BusinessDesk
July 5 (BusinessDesk) - Z Energy, the locally-owned downstream transport fuels supplier, wants to raise as much as $150 million through a retail bond issue to repay debt and general expenses. More >>
CORRECT: Appeal court lifts veil on PGC loans
Thursday, 5 July 2012, 2:15 pm | BusinessDesk
CORRECT: Appeal court lifts veil on FMA action to recover $25M in Pyne Gould related-party loans More >>
Kraft spent $207.3M on Cadbury NZ as part of global takeover
Thursday, 5 July 2012, 2:11 pm | BusinessDesk
July 5 (BusinessDesk) - Kraft Foods, the global food manufacturer, spent $207.3 million on Cadbury's New Zealand operations as part of its 11.9 billion pound takeover of the chocolate maker in 2010, financial statements show. More >>
NZX seeks gender diversity disclosure for listed companies
Thursday, 5 July 2012, 1:46 pm | BusinessDesk
July 5 (BusinessDesk) - NZX, the stock exchange regulator, will include a requirement for listed companies to disclose their gender diversity as part of the annual reports starting on Dec. 31, subject to Financial Markets Authority approval. More >>
Court lifts veil on FMA focus on PGC related-party loans
Thursday, 5 July 2012, 1:36 pm | BusinessDesk
Appeal court lifts veil on FMA action to recover $25M in Pyne Gould related-party loans More >>
PMP won’t give TMA more access without proof of funds
Thursday, 5 July 2012, 1:25 pm | BusinessDesk
PMP won’t give TMA access to more due diligence until it sees proof of funding More >>
