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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 1357]
Cushings edge closer to takeover threshold in Kirkcaldie
Thursday, 31 May 2012, 12:44 pm | BusinessDesk
May 31 (BusinessDesk) – Selwyn and David Cushing have edged closer to the takeover threshold in Kirkcaldie & Stains, the iconic Wellington department store owner whose property assets are worth almost twice the company’s market capitalisation. More >>
CommComm supports draft Fonterra milk price regime
Thursday, 31 May 2012, 12:22 pm | BusinessDesk
May 31 (BusinessDesk) – Fonterra Cooperative Group’s method of setting its farm gate milk price has been given an initial, conditional tick of approval by the Commerce Commission in a dry run of its proposed oversight role set out in the Dairy Industry ... More >>
MIDDAY UPDATE: Kiwi falls as Greek polls see-saw
Thursday, 31 May 2012, 12:15 pm | BusinessDesk
MIDDAY UPDATE: NZ dollar down almost 1 US cent as Greek polls see-saw May 31 (BusinessDesk) - The New Zealand dollar has fallen almost 1 US cent amid concerns over how Spain will shore up its banking sector and an opinion poll showed growing support for Greece's ... More >>
TAF voting packs go to Fonterra farmers
Thursday, 31 May 2012, 11:32 am | BusinessDesk
May 31 (BusinessDesk) - A mass mail-out is under way to Fonterra Cooperative Group's 10,500 farmer shareholders of the voting packs for the June 25 special meeting on the controversial Trading Among Farmers scheme. More >>
Argosy sells vacant Albany site at 7% discount to valuation
Thursday, 31 May 2012, 10:05 am | BusinessDesk
May 31 (BusinessDesk) - Argosy Property, whose shareholders agreed to corporatise the company after buying out the ANZ Bank-owned manager last year, has sold an empty building in Auckland's Albany suburb for a 7 percent discount. More >>
NZ dollar falls on Spain banking concerns, Greek polls
Thursday, 31 May 2012, 8:48 am | BusinessDesk
NZ dollar falls more than half a US cent on Spain banking concerns, Greek opinion polls More >>
While you were sleeping: Risk aversion rises on EU woes
Thursday, 31 May 2012, 7:17 am | BusinessDesk
May 31 (BusinessDesk) - Anxiety about the euro zone's outlook sent investors piling into the safety of German bunds, pushing the yield on Germany's two-year note to zero for the first time. US Treasuries also received a lift. More >>
Sanford HY profit growth stalls despite forex hedging gains
Wednesday, 30 May 2012, 6:13 pm | BusinessDesk
May 30 (BusinessDesk) - Sanford, the fishing company, saw half-year profit stall as increased sales of greenshell mussels were offset by declines in hoki, squid, salmon and skipjack tuna prices, and the company took a $2 million impairment on ... More >>
MARKET CLOSE: NZ shares rise; Mainfreight climbs
Wednesday, 30 May 2012, 6:04 pm | BusinessDesk
May 30 (BusinessDesk) - New Zealand shares rose, led by Mainfreight after the nation's biggest road transport company posted record sales and earnings even as its European business struggled. OceanaGold fell as the price of gold declined. More >>
SmartPay shares soar after equity, debt raising
Wednesday, 30 May 2012, 5:43 pm | BusinessDesk
May 30 (BusinessDesk) - Shares of SmartPay jumped after the eftpos terminal company said it raised $13 million in new equity capital and secured $25 million of bank facilities, allowing it to repay costlier existing debt and redeem its capital notes. More >>
NZ dollar gains vs. AUD as Australian retail sales fall
Wednesday, 30 May 2012, 5:24 pm | BusinessDesk
NZ dollar gains vs. AUD as Australian retail sales disappoint, heads for 7% monthly drop vs. USD More >>
CORRECT: Goldman Sachs NZ posts FY loss as income falls
Wednesday, 30 May 2012, 4:21 pm | BusinessDesk
May 30 (BusinessDesk) – Goldman Sachs New Zealand Holdings, the local unit of the Wall Street investment bank, posted a full-year loss as revenue from fees, commissions and trading fell almost three times as much as operating expenses. More >>
McDonald's reaps biggest NZ dividend in at least a decade
Wednesday, 30 May 2012, 3:46 pm | BusinessDesk
McDonald's reaps biggest NZ dividend in at least a decade to help fund global growth More >>
Goldman Sachs NZ unit posts $3.6m FY loss
Wednesday, 30 May 2012, 3:31 pm | BusinessDesk
May 30 (BusinessDesk) – Goldman Sachs New Zealand Holdings, the local unit of the Wall Street investment bank, posted a full-year loss as revenue from fees, commissions and trading fell almost three times as much as operating expenses. More >>
New Talisman starts life with $9.2M in funds
Wednesday, 30 May 2012, 3:24 pm | BusinessDesk
May 30 (BusinessDesk) - New Talisman Gold Mines, the gold miner formerly known as Heritage Gold, is starting out with $9.24 million in equity as it prepares to develop the Talisman gold prospect on the Coromandel Peninsula. More >>
Sealegs narrows FY loss as sales rise, marketing spend falls
Wednesday, 30 May 2012, 3:14 pm | BusinessDesk
May 30 (BusinessDesk) - Sealegs Corp, which makes amphibious boats, halved its annual loss after boosting sales by more than a third and embarking on a restructuring programme that slashed its marketing bill. More >>
Ecoya posts maiden annual operating profit
Wednesday, 30 May 2012, 2:52 pm | BusinessDesk
May 30 (BusinessDesk) - Scented candle and skincare products company Ecoya said it made a maiden annual operating profit after sales jumped 58 percent. More >>
Ageing kiwis, outward migration threat to rural areas: NZIER
Wednesday, 30 May 2012, 2:43 pm | BusinessDesk
May 30 (BusinessDesk) - Rural New Zealand is likely to disproportionately suffer the consequences of the country's ageing population and outward migration through a loss of skilled and innovative labour, according to the NZ Institute of Economic ... More >>
MIDDAY UPDATE: NZ home building issuance slows in April
Wednesday, 30 May 2012, 11:56 am | BusinessDesk
May 30 (BusinessDesk) - The pace of New Zealand residential building issuance slowed last month, even as demand increased for new housing in the country's biggest city, Auckland. More >>
NZ residential building issuance slows in April
Wednesday, 30 May 2012, 11:31 am | BusinessDesk
May 30 (BusinessDesk) - The pace of New Zealand residential building issuance slowed last month, even as demand increased for new housing in the country's biggest city, Auckland. More >>
