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BusinessDesk - Latest News [Page 1341]

Blue Star gets conditional offer, to sell Rapid Labels

Monday, 2 July 2012, 9:43 am | BusinessDesk

July 02 (BusinessDesk) - Blue Star Group, which last year convinced bond holders to roll over $105 million of debt on more favourable terms after freezing payments, said it received a conditional offer for the printing company and plans to sell its ... More >>

Fletcher sells Crane metal distribution businesses for $70M

Monday, 2 July 2012, 9:26 am | BusinessDesk

July 2 (BusinessDesk) - Fletcher Building, the largest construction company on the NZX, has sold the metals distribution businesses it acquired when it bought Crane Group last year for about $70 million. More >>

Reynolds gets $1.75M ‘termination payment’ to leave Telecom

Monday, 2 July 2012, 9:02 am | BusinessDesk

July 2 (BusinessDesk) - Paul Reynolds will get a ‘termination payment’ of $1.75 million following his departure from Telecom last week More >>

NZ dollar holds near 2-month high on EU banking bailout

Monday, 2 July 2012, 8:27 am | BusinessDesk

July 02 (BusinessDesk) - The New Zealand dollar held near a two-month high after European leaders pledged to provide aid for the region’s banks, spurring optimism that policymakers may be closer to resolving the euro-zone’s debt crisis. More >>

World Week Ahead: Eyes on ECB

Monday, 2 July 2012, 6:58 am | BusinessDesk

July 02 (BusinessDesk) - The month of June finished on a high note, with investors opting to trust that the most recent agreement by European leaders on dealing with the 2 1/2-year-old sovereign debt crisis will finally stem the bleeding for both ... More >>

MONEY TALKS: A kinder, gentler NZX?

Friday, 29 June 2012, 5:46 pm | BusinessDesk

June 29 (BusinessDesk) - Under the decade-long stewardship of its previous chief executive, Mark Weldon, our local listed stock exchange operator, NZX, became an organisation that some people loved to hate. More >>

Vector goes to highest court on pricing regulation

Friday, 29 June 2012, 5:41 pm | BusinessDesk

June 29 (BusinessDesk) - Vector will take its fight against the Commerce Commission's approach to regulating monopoly electricity and gas pricing to the Supreme Court, after losing in the Court of Appeal in a dispute about the factors required for calculating ... More >>

MARKET CLOSE: NZ share mixed; ANZ, Westpac rise on EU aid

Friday, 29 June 2012, 5:36 pm | BusinessDesk

June 29 (BusinessDesk) - New Zealand shares fell, trimming the NZX 50 Index’s gain in the second quarter to 3.1 percent as investors were yet again looking to Europe for signs of progress in tackling its debt crisis. Australian lenders Westpac and ... More >>

NZ dollar jumps after EU leaders agree on bank rescue

Friday, 29 June 2012, 5:11 pm | BusinessDesk

June 29 (BusinessDesk) - The New Zealand dollar surged after European leaders agreed to use the euro-zone’s bailout fund to support Spain's bank sector at a two-day summit in Brussels, easing concerns that the region's debt crisis is spreading. More >>

Forsyth's Hallwright found guilty of reckless disregard

Friday, 29 June 2012, 3:56 pm | BusinessDesk

June 29 (BusinessDesk) - Guy Hallwright, a Forsyth Barr analyst, has been found guilty of reckless disregard for the safety of others, causing grievous bodily harm. More >>

Colonial Motor says second half better than expected

Friday, 29 June 2012, 3:34 pm | BusinessDesk

June 29 (BusinessDesk) - Colonial Motor Co, which owns Ford Motor and Mazda dealerships, said the second half didn’t pan out quite as badly had it had feared when it posted a 64 percent surge in first-half earnings in February. More >>

ANZ Bank, DairyNZ partner on financial benchmarking of farms

Friday, 29 June 2012, 12:49 pm | BusinessDesk

June 29 (BusinessDesk) - DairyNZ is partnering with Australia & New Zealand Banking Group to boost the financial performance of dairy farms. More >>

Restaurant Brands to at least match last year's profit

Friday, 29 June 2012, 12:32 pm | BusinessDesk

June 29 (BusinessDesk) - Restaurant Brands, the fast food company, expects to at least match last year's profit in the year ending February 2013, chairman Ted van Arkel told the annual shareholders' meeting. More >>

Japan Airlines fined $2.3M in NZ cargo price-fixing case

Friday, 29 June 2012, 12:23 pm | BusinessDesk

June 29 (BusinessDesk) - Japan Airlines, the carrier that emerged from bankruptcy last year, has been fined $2.3 million for breaches of New Zealand’s competition law for its part in an air cargo price fixing cartel. More >>

MIDDAY UPDATE: NZ building consents fall in May

Friday, 29 June 2012, 11:57 am | BusinessDesk

June 29 (BusinessDesk) - New Zealand home building consents declined in May, led by a drop in approvals for apartments, even as earthquake-related consents reached their second-highest monthly total since the Canterbury quakes began in September ... More >>

NZ home building consents fall 7.1% in May, apartments lead

Friday, 29 June 2012, 11:38 am | BusinessDesk

CORRECT: Billionaire Bill Foley to take control of NZ Wine

Friday, 29 June 2012, 11:21 am | BusinessDesk

June 29 (BusinessDesk) - Foley Family Wines, owned by the California-based billionaire Bill Foley, is to take control of New Zealand Wine Company, adding the Grove Mill, Sanctuary and Frog Haven brands to its suite of local wines. The merger which will ... More >>