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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 1356]
Fonterra only needs bare majority to pass TAF: O'Connor
Friday, 1 June 2012, 3:50 pm | BusinessDesk
June 1 (BusinessDesk) - Fonterra can implement its contentious Trading Among Farmers scheme on a simple majority vote by farmer shareholders, even if they reject constitutional amendments requiring 75 percent support, says Labour Party agriculture spokesman ... More >>
NZ commodity prices fall to 21-month low in May
Friday, 1 June 2012, 3:28 pm | BusinessDesk
Wellington, June 1 (BusinessDesk) - The ANZ Commodity Price Index fell 4.2 percent to a 21 month low in May as rises in the price of apples and kiwifruit failed to offset declines in the price of wool and dairy products. More >>
Fonterra needs 75% farmer-shareholder support for TAF
Friday, 1 June 2012, 1:11 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 >>
Fonterra wants ‘strong’ farmer mandate for TAF scheme
Friday, 1 June 2012, 12:37 pm | BusinessDesk
June 1 (BusinessDesk) – Fonterra Cooperative Group says it won’t go ahead with its contentious Trading Among Farmers scheme without a clear mandate from its farmer members. More >>
Vector disappointed Appeal Court overturns price review
Friday, 1 June 2012, 12:16 pm | BusinessDesk
June 1 (BusinessDesk) - Vector, the Auckland gas and electricity lines company, is disappointed with a Court of Appeal decision overturning a judicial review of the way the Commerce Commission regulates price-setting for monopoly utility providers. More >>
Warehouse to sell, lease back about $100M of property
Friday, 1 June 2012, 11:49 am | BusinessDesk
June 1 (BusinessDesk) – Discount retailer Warehouse Group said it plans to sell three stores and its Wiri distribution centre on a sale and leaseback basis for about $100 million through Colliers International. More >>
MediaWorks to buy more local TV shows as CBS rights expire
Friday, 1 June 2012, 11:41 am | BusinessDesk
June 1 (BusinessDesk) - MediaWorks NZ, the private-equity owned broadcaster, plans to spend more on local television programmes as it winds down its deal with CBS Broadcasting and stops taking new shows from the most-watched network in the US. More >>
NZ 1Q terms of trade fall on weaker commodity prices
Friday, 1 June 2012, 11:33 am | BusinessDesk
June 1 (BusinessDesk) - New Zealand's terms of trade fell in the first three months of the year as a decline in commodity prices weighed on exports, with dairy prices falling for the third straight quarter even as volumes rose. More >>
Argosy gets book value for sale of Wakefield St site
Friday, 1 June 2012, 10:52 am | BusinessDesk
June 1 (BusinessDesk) – Argosy Property, whose shareholders agreed to corporatise the company after buying out the ANZ Bank-owned manager last year, has announced its second sale in as many days, the property at 221 Wakefield Street in Wellington. More >>
NZ dollar little changed as investors seek safe havens
Friday, 1 June 2012, 9:23 am | BusinessDesk
June 1 (BusinessDesk) - The New Zealand dollar was little changed as investors looked to put their money in low-risk assets such as government bonds as Europe's sovereign debt woes drag on, and ahead of US employment figures. More >>
Origin agrees to sell TAWN fields to NZ Energy for C$45M
Friday, 1 June 2012, 9:00 am | BusinessDesk
Origin Energy agrees to sell TAWN fields to NZ Energy for C$42M plus earnouts More >>
While you were sleeping: Spain, Greece hug spotlight
Friday, 1 June 2012, 7:22 am | BusinessDesk
June 1 (BusinessDesk) - As the pendulum swung back towards pro-bailout parties in Greece ahead of this month's vote, there were reports that the International Monetary Fund has begun preparing for a potential rescue loan for Spain. More >>
NZ government bond yields fall to record low
Thursday, 31 May 2012, 6:37 pm | BusinessDesk
NZ government bond yields fall to record low as euro woes stoke flight to safety More >>
MARKET CLOSE: NZ shares rise; Pumpkin Patch, Mainfreight up
Thursday, 31 May 2012, 6:08 pm | BusinessDesk
May 31 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index to a week-high, as Mainfreight extended gains after posting record earnings yesterday and Pumpkin Patch named veteran retailing executive and investor Rod Duke to its ... More >>
NZ dollar down 7.9% in May as Europe saps risk appetite
Thursday, 31 May 2012, 5:47 pm | BusinessDesk
May 31 (BusinessDesk) - The New Zealand dollar is poised for a 7.9 percent decline over the course of May as fears about Spain's banking sector and the prospect of Greece quitting the euro weigh on investors' appetite for higher-yielding, riskier ... More >>
CORRECT: Pumpkin Patch adds Briscoe boss Rod Duke to board
Thursday, 31 May 2012, 5:40 pm | BusinessDesk
May 31 (BusinessDesk) - Pumpkin Patch, the children’s clothing retailer, has announced two new directors will join its board, one of whom is Briscoe Group managing director Rod Duke. More >>
Pumpkin Patch adds Briscoe boss Rod Duke to board
Thursday, 31 May 2012, 3:52 pm | BusinessDesk
May 31 (BusinessDesk) - Pumpkin Patch, the children’s clothing retailer, has announced two new directors will join its board, one of whom is Briscoe Group managing director Rod Duke. More >>
Solid Energy reports fourfold rise in Taranaki coal seam gas
Thursday, 31 May 2012, 3:30 pm | BusinessDesk
May 31 (BusinessDesk) - State-owned coal miner Solid Energy's estimate of potentially recoverable coal seam gas reserves in its onshore Taranaki permit areas has identified a fourfold increase and will see the company concentrate its CSG activities there. More >>
NZ business confidence falls in May for first time in 7 mths
Thursday, 31 May 2012, 2:04 pm | BusinessDesk
NZ business confidence falls in May for first time in 7 months, National Bank says More >>
SFO lays 28 charges against former Herbert Insurance boss
Thursday, 31 May 2012, 12:59 pm | BusinessDesk
May 31 (BusinessDesk) - The Serious Fraud Office has laid 28 charges against former Herbert Insurance Group boss Grant Herbert, alleging he used client funds to finance his lifestyle. More >>
