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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 1355]
RBA cuts cash rate another 25 basis points; currency gains
Tuesday, 5 June 2012, 4:58 pm | BusinessDesk
June 5 (BusinessDesk) - The Reserve Bank of Australia cut 25 basis points from its target cash rate as deteriorating market sentiment and an uncertain international environment keep interest rate expectations low. More >>
MYOB, Westpac target 10,000 NZ firms with free website offer
Tuesday, 5 June 2012, 3:35 pm | BusinessDesk
June 5 (BusinessDesk) - Online payment solutions provider MYOB and lender Westpac Banking Corp are looking to get 10,000 local businesses online by offering free websites for the next year. More >>
Minister failed to consult adequately on Petrobras licence
Tuesday, 5 June 2012, 2:08 pm | BusinessDesk
June 5 (BusinessDesk) - Lawyers challenging Brazilian oil company Petrobras's deep sea oil exploration licence say the Minister of Energy failed to consider the impacts of such activity on marine life from seismic surveying even before an exploration ... More >>
NZ Dollar Outlook: Kiwi may gain as G7 meets, RBA looms
Tuesday, 5 June 2012, 1:35 pm | BusinessDesk
June 5 (BusinessDesk) - The New Zealand dollar may rise this week as leaders of the Group of Seven nations meet to discuss Europe’s debt crisis and the Reserve Bank of Australia reviews monetary policy amid speculation it will slash the cash rate. More >>
RESEND: Telstra in talks with Vodafone to sell TelstraClear
Tuesday, 5 June 2012, 12:57 pm | BusinessDesk
June 5 (BusinessDesk) – Telstra, Australia’s biggest phone company, said it is in talks with Vodafone over the possible sale of its TelstraClear unit in New Zealand. More >>
Telstra in talks with Vodafone to sell TelstraClar unit
Tuesday, 5 June 2012, 12:52 pm | BusinessDesk
June 5 (BusinessDesk) – Telstra, Australia’s biggest phone company, said it is in talks with Vodafone over the possible sale of its TelstraClear unit in New Zealand. More >>
MIDDAY UPDATE: NZ dollar holds at week-high
Tuesday, 5 June 2012, 12:05 pm | BusinessDesk
June 5 (BusinessDesk) - The New Zealand dollar held near a week-high after the Group of Seven leaders agreed to discuss Europe's debt crisis, easing concern that more banks will need rescuing. More >>
Cushings lift holding in Kirkcaldie to 19.55%
Tuesday, 5 June 2012, 11:18 am | BusinessDesk
June 5 (BusinessDesk) - Selwyn and David Cushing have lifted their stake in Kirkcaldie & Stains, the iconic Wellington department store owner, to 19.55 percent. More >>
Rubicon to raise $21m from 1-for-3 rights issue
Tuesday, 5 June 2012, 11:11 am | BusinessDesk
June 5 (BusinessDesk) - Forestry science and wood products investor Rubicon said it plans a fully-underwritten one-for-three rights issue to raise $21 million. More >>
Metlifecare merger plan deemed fair to minority shareholders
Tuesday, 5 June 2012, 11:04 am | BusinessDesk
June 5 (BusinessDesk) – Metlifecare’s proposal to merge with Vision Senior Living and Private Life Care Holdings is fair to the rest home operator’s minority shareholders, according to an appraisal report by Northington Partners. More >>
NZ stocks fall to 3-month low, joining global slide
Tuesday, 5 June 2012, 10:43 am | BusinessDesk
June 5 (BusinessDesk) - New Zealand shares fell to a three-month low when trading resumed after a three-day weekend, joining a global slide driven by renewed European fears and weaker employment and manufacturing data in the US. More >>
Nuplex full-year earnings growth to stall
Tuesday, 5 June 2012, 10:30 am | BusinessDesk
June 5 (BusinessDesk) – Nuplex Industries, the specialty chemicals maker, said full-year earnings would be at the bottom end of its range although second-half trading has met expectations and margins have improved. The shares rose about 0.9 percent ... More >>
NZ dollar rises as G7 leaders' meeting, RBA review loom
Tuesday, 5 June 2012, 9:00 am | BusinessDesk
June 5 (BusinessDesk) - The New Zealand dollar rose after the Group of Seven leaders agreed to discuss Europe's debt crisis, easing concern that more banks will need rescuing in the face of the region's debt crisis. More >>
While you were sleeping: Euro's dead cat bounce
Tuesday, 5 June 2012, 7:47 am | BusinessDesk
June 5 (BusinessDesk) - The euro has gained from a two-year low against the greenback and a more-than decade-low against the yen as various technical measures it was due for a bounce. But traders aren't yet convinced. More >>
MARKET CLOSE: NZ shares fall to 2-mth low, Fletcher down
Friday, 1 June 2012, 6:19 pm | BusinessDesk
June 1 (BusinessDesk) - New Zealand shares fell to a two-month low, paced by Fletcher Building as weak Australian housing figures raised fears the construction company will face tougher earnings from across the Tasman. Pumpkin Patch was the biggest ... More >>
MONEY TALKS: Investing in the cult of personality
Friday, 1 June 2012, 6:15 pm | BusinessDesk
Love him or hate him, Sir Ron Brierley managed to grab the headlines on a day when every financial journo in New Zealand had at least one eye on the budget. More >>
Crown takes on residual assets of South Canterbury Finance
Friday, 1 June 2012, 6:08 pm | BusinessDesk
June 1 (BusinessDesk) – The tidying up of the South Canterbury Finance debacle continues with the Crown taking over residual assets as earlier signalled. More >>
NZ dollar drifts lower on disappointing Chinese data
Friday, 1 June 2012, 5:21 pm | BusinessDesk
By Pam Graham June 1 (BusinessDesk) – The New Zealand dollar drifted lower on Friday as investors already worried about debt in Europe digested weak Chinese manufacturing reports, and weaker prices for locally-produced raw materials. More >>
Auckland to Houston long haul service canned
Friday, 1 June 2012, 4:33 pm | BusinessDesk
June 1 (BusinessDesk) – A new direct flight from Auckland to Texas, hailed as a great development for New Zealand tourism, is being canned before it began. More >>
CORRECT: Fonterra needs 75% shareholder support for TAF
Friday, 1 June 2012, 4:13 pm | BusinessDesk
June 1 (BusinessDesk) - Fonterra will require a 75 percent majority from its 10,500 farmer-shareholders to move ahead with its proposal to create non-voting, tradeable units allowing arms-length investment in New Zealand's largest business by non-farmers ... More >>
