Scoop has an Ethical Paywall
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 1342]
Pauanui Lakes Properties liquidation ends with $29.5M owing
Friday, 29 June 2012, 9:53 am | BusinessDesk
June 29 (BusinessDesk) - Liquidators of Pauanui Lakes Properties, one of a group of related companies that had been developing the Lakes Resort at Pauanui, have completed their work, leaving some $29.5 million owed to 36 creditors, according to their final ... More >>
Billionaire Bill Foley to take control of NZ Wine Co
Friday, 29 June 2012, 9:20 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, whose brands include Vavasour, Goldwater, Clifford Bay and Dashwood. More >>
NZ dollar falls almost 1 US ct as EU summit outcome awaited
Friday, 29 June 2012, 8:32 am | BusinessDesk
June 29 (BusinessDesk) - The New Zealand dollar fell almost one cent against the greenback as markets await details from the European Union summit in Brussels, which is expected to provide fresh clues of how leaders plan to address the region's growing ... More >>
While you were sleeping: JPMorgan falls on wider losses
Friday, 29 June 2012, 7:52 am | BusinessDesk
June 29 (BusinessDesk) – Wall Street dropped as JPMorgan shares plunged and economic data indicated further weakness ahead on both sides of the pond. More >>
T&G mulls property sale and leaseback, writes off $28M
Thursday, 28 June 2012, 5:38 pm | BusinessDesk
June 28 (BusinessDesk) - Fresh produce distributor Turners & Growers is looking at options to sell and lease back parts of its property portfolio and to sell non-core activities as it chases greater profitability following the takeover of 73 percent ... More >>
Bankrupt loan shark fined for consumer credit law breaches
Thursday, 28 June 2012, 3:12 pm | BusinessDesk
June 28 (BusinessDesk) - A bankrupt loan shark who charged interest on loans of as much as 1,738 percent, has been fined in the Christchurch District Court for breaches of consumer credit law. More >>
Conyngham resigns as design director at Pumpkin Patch
Thursday, 28 June 2012, 2:53 pm | BusinessDesk
June 28 (BusinessDesk) - Pumpkin Patch design director Chrissy Conyngham has resigned after almost 20 years with the children’s clothing chain, saying she wants to seek new opportunities. More >>
NZ business confidence eases in June: National Bank
Thursday, 28 June 2012, 2:35 pm | BusinessDesk
June 28 (BusinessDesk) - New Zealand business confidence remained positive in June, even as confidence fell across all five of the main sub-sectors, with firms becoming more cautious in the winter months. More >>
Bathurst confirms coal appeal date of Oct. 29
Thursday, 28 June 2012, 12:42 pm | BusinessDesk
June 28 (BusinessDesk) - Coking coal miner Bathurst Resources has confirmed its October court date for hearings against resource consents granted 14 months ago and opposed by environmental groups seeking to protect the Denniston Plateau from coal mining. More >>
CORRECT: 2degrees posts operating loss in 2011
Thursday, 28 June 2012, 12:22 pm | BusinessDesk
June 28 (BusinessDesk) - New entrant national mobile operator 2degrees posted an $81.9 million operating loss in its second full year of operation, and is on course to break even on an earnings before interest and tax basis for the first time this ... More >>
MIDDAY UPDATE: 2degrees heads for operating surplus
Thursday, 28 June 2012, 12:00 pm | BusinessDesk
Mobile phone operator 2degrees posted an $81.9 million operating loss in its second full year of operation and is on course to break even on an earnings-before-interest-and-tax basis this year, says chief executive Eric Weiss. More >>
2degrees posts operating loss in 2011, sees surplus in 2012
Thursday, 28 June 2012, 11:17 am | BusinessDesk
June 28 (BusinessDesk) - Mobile phone operator 2degrees posted an $81.9 million operating loss in its second full year of operation and is on course to break even on an earnings-before-interest-and-tax basis this year, says chief executive Eric Weiss. More >>
GPG's Coats loses appeal on European market-fixing
Thursday, 28 June 2012, 10:08 am | BusinessDesk
June 28 (BusinessDesk) - Global thread-maker Coats, Guinness Peat Group's largest remaining asset, has lost a crucial appeal in the European Court of Justice and faces fines and interest totalling 138 million euros, well in excess of provisioning. More >>
NZ's insurance premiums top global average, Swiss Re says
Thursday, 28 June 2012, 10:00 am | BusinessDesk
June 28 (BusinessDesk) - Insurance premiums in New Zealand and Australia rose well above the international average in 2011, even as profitability deteriorated, according to global reinsurer, Swiss Re. More >>
NZX makes distinction between regulatory, market roles
Thursday, 28 June 2012, 9:55 am | BusinessDesk
June 28 (BusinessDesk) - NZX, the stock market operator, is creating a new markets group and regulatory team to make a clearer distinction between the two roles, says new chief executive Tim Bennett. More >>
Raukawa sends board of commercial arm to 'director's school'
Thursday, 28 June 2012, 9:29 am | BusinessDesk
June 26 (BusinessDesk) - Ngati Raukawa, which received a $50 million treaty claims settlement, has learned from other iwis’ missteps, sending the board of its commercial arm to ‘directors’ school’ and ensuring they bone up on financial literacy. More >>
While you were sleeping: US economic data lift
Thursday, 28 June 2012, 7:35 am | BusinessDesk
June 28 (BusinessDesk) – Better-than-expected data on US housing and durable goods orders provided optimism for Wall Street that the slowdown in the pace of growth might not be as bad as feared. More >>
TrustPower in tax battle over treatment of resource consents
Wednesday, 27 June 2012, 3:46 pm | BusinessDesk
June 27 (BusinessDesk) - TrustPower may have to record a tax expense of as much as $3.3 million in its income statements if a dispute with the Inland Revenue Department (IRD) goes against it, according to shareholder Infratil. More >>
UPDATED: KiwiRail writedown to add $1.8 bln to govt deficit
Wednesday, 27 June 2012, 2:18 pm | BusinessDesk
June 27 (BusinessDesk) - KiwiRail is to be restructured and its land holdings shifted to another entity, with a writedown of some $6.7 billion that will result in $1.8 billion being added to the government’s operating deficit this financial year. ... More >>
Holden NZ recalls 629 Cruzes for modification
Wednesday, 27 June 2012, 1:51 pm | BusinessDesk
June 27 (BusinessDesk) - Holden New Zealand is recalling 629 Cruze vehicles in New Zealand after a potential fire hazard was identified with the cars in other markets. More >>
