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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 1350]
NZ dollar rises above 78 US cents on prospect of Fed easing
Friday, 15 June 2012, 8:40 am | BusinessDesk
NZ dollar rises above 78 US cents for first time in month on prospects of Fed easing More >>
While you were sleeping: Fed stimulus bets on the rise
Friday, 15 June 2012, 7:36 am | BusinessDesk
June 15 (BusinessDesk) – The latest US economic data fuelled hope the Federal Reserve might soon, as early as next week, assist in rekindling the pace of recovery as new claims for state jobless benefits unexpectedly increased for the fifth time in six ... More >>
Law firms team up to flag flaws in NZ securities law review
Thursday, 14 June 2012, 6:53 pm | BusinessDesk
June 14 (BusinessDesk) - New Zealand's top law firms went against type and banded together to give Parliament free advice to stamp out flaws in the proposed overhaul of the nation's decades-old Securities Act. More >>
GPG to sell holding in Young & Co’s Brewery for 54.1M pounds
Thursday, 14 June 2012, 6:50 pm | BusinessDesk
Guinness Peat to sell holding in Young & Co’s Brewery for 54.1 million pounds More >>
UPDATE: Asset sales law moves forward, MRP float by Sept 30
Thursday, 14 June 2012, 6:20 pm | BusinessDesk
June 14 (BusinessDesk) - The government's unpopular asset sales policy took a big step forward this afternoon, passing its Second Reading in Parliament, and is now due for Third Reading and passage into law after committee stages that start next ... More >>
MARKET CLOSE: NZ shares gain; Chorus, Telecom lead NZX 50
Thursday, 14 June 2012, 6:11 pm | BusinessDesk
June 14 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index up 1 percent, led by gains in network company Chorus and Telecom and as some investors bet Sky City Entertainment Group will eventually get its convention hall-for-slots ... More >>
NZ dollar edges higher after RBNZ confirms rates on hold
Thursday, 14 June 2012, 5:37 pm | BusinessDesk
June 14 (BusinessDesk) - The New Zealand dollar rose after Reserve Bank Governor Alan Bollard left the official cash rate unchanged at a record-low and pointed to risks in Europe and a lower track for interest rates. More >>
Asset sales legislation returns to NZ parliament
Thursday, 14 June 2012, 4:18 pm | BusinessDesk
June 14 (BusinessDesk) - Legislation to allow the partial sale of state-owned energy companies returned to the New Zealand parliament this afternoon, as the government prepares for the sale of a minority stake in power MightyRiverPower in the next 16 ... More >>
RESEND: Fur flies in NZ over secret trade negotiations
Thursday, 14 June 2012, 4:15 pm | BusinessDesk
June 14 (BusinessDesk) - Leaked drafts of the Trans-Pacific Partnership have reignited the debate over loss of national sovereignty in free-trade pacts, with opponents claiming the TPP as a sell-out to global corporate interests and advocates dismissing ... More >>
Fur flies in NZ over secret trade negotiations
Thursday, 14 June 2012, 4:12 pm | BusinessDesk
June 14 (BusinessDesk) - Leaked drafts of the Trans-Pacific Partnership has reignited the debate over loss of national sovereignty in free-trade pacts, with opponents claiming the TPP as a sell-out to global corporate interests and advocates dismissing ... More >>
Pulse FY profit up 102% on jump in sales, fair-value gains
Thursday, 14 June 2012, 3:52 pm | BusinessDesk
June 14 (BusinessDesk) - Pulse Utilities, the electricity retailer that operates under the Just Energy brand, returned to profit as sales jumped more than 50 percent and the retailer recognised an adjustment to the value of electricity price derivatives. More >>
L&M seeks listing on Canada’s TSX Venture Exchange
Thursday, 14 June 2012, 3:34 pm | BusinessDesk
June 14 (BusinessDesk) - L&M Energy, which has interests in oil and gas exploration permits in Taranaki, is to seek a listing on Toronto’s TSX Venture Exchange in what is says is a move to boost liquidity as the company bids for new blocks and ... More >>
NZ central bank sees 10% chance of Eurogeddon
Thursday, 14 June 2012, 2:44 pm | BusinessDesk
June 14 (BusinessDesk) - The Reserve Bank of New Zealand is giving a meltdown in Europe a one-in-ten-chance where multiple nations are forced out of the economic bloc and global funding markets freeze up. More >>
Witnesses recalled in Skinner, Rowley accounting fraud case
Thursday, 14 June 2012, 2:29 pm | BusinessDesk
June 14 (BusinessDesk) - Experts in computer fraud will be recalled to the Wellington High Court after conflicting evidence in the trial of Wellington accountants Barrie Skinner and David Rowley brought proceedings to a halt in a key area of testimony. More >>
From The Farm: The threat of Europe
Thursday, 14 June 2012, 12:58 pm | BusinessDesk
Europeans take only 7 percent of New Zealand’s exports but the region amounts to the biggest threat to our trade in dairy products, meat, wool and other commodities. More >>
MIDDAY UPDATE: Bollard keeps OCR unchanged
Thursday, 14 June 2012, 11:59 am | BusinessDesk
June 14 (BusinessDesk) - Reserve Bank Governor Alan Bollard kept the official cash rate unchanged at 2.5 percent and pushed out the track for future rate hikes as Europe's instability weighs heavily on global growth. More >>
NZ food prices rise in May, led by fruit, vegetables
Thursday, 14 June 2012, 11:46 am | BusinessDesk
NZ food prices rise in May, led by fruit, vegetables in lead-up to winter More >>
Kiwibank growth plans are risk to AA rating: Fitch
Thursday, 14 June 2012, 11:01 am | BusinessDesk
June 14 (BusinessDesk) - State-owned lender Kiwibank's plans to grab more of New Zealand's market are a potential risk to its newly assigned double-A ratings, according to Fitch Ratings. More >>
NZ Farming Systems cuts FY guidance on lower milk output
Thursday, 14 June 2012, 9:40 am | BusinessDesk
June 14 (BusinessDesk) - NZ Farming Systems Uruguay, the South American dairy farmer controlled by Singapore’s Olam International, will miss its target to break even on a pretax basis this year after dry weather stunted pasture growth and milk output. More >>
Reserve Bank nervy about fall-out from European PIIGS
Thursday, 14 June 2012, 9:15 am | BusinessDesk
June 14 (BusinessDesk) - The Reserve Bank is closely monitoring developments in Europe because of the risks posed by the region’s sovereign debt crisis to economic growth in New Zealand. More >>
