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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 1364]
NZ Dairies receiver in discussions' with potential buyers
Friday, 18 May 2012, 4:35 pm | BusinessDesk
May 18 (BusinessDesk) - The receiver for Russian-owned New Zealand Diaries is in "advanced discussions" with interested buyers. More >>
Postie Plus flags growth through acquisitions
Friday, 18 May 2012, 3:46 pm | BusinessDesk
May 18 (BusinessDesk) - Postie Plus, which sold its Babycity chain of stores for some $4.1 million, wants to double in size through buying rivals and will progressively shift its base to Auckland as part of the new strategy. More >>
National fresh water regime takes another big step forward
Friday, 18 May 2012, 1:24 pm | BusinessDesk
May 18 (BusinessDesk) - Local communities will have much greater involvement in how lakes, rivers and streams are used and regulated under proposals served up to the government in the second report of the Land and Water Forum. More >>
MIDDAY UPDATE: More Bridgecorp jail time handed down
Friday, 18 May 2012, 12:18 pm | BusinessDesk
May 18 (BusinessDesk) – Former Bridgecorp executive director Rob Roest has joined the failed finance company's managing director, Rod Petricevic, in a six and a half year jail term, handed down this morning in the Auckland High Court. More >>
Bridgecorp's Roest jailed for 6 1/2 years
Friday, 18 May 2012, 12:07 pm | BusinessDesk
May 18 (BusinessDesk) - Bridgecorp's former executive director Rob Roest has been jailed for six-and-a-half years, matching the sentence handed down to Rod Petricevic, for his role in misleading investors and knowingly making false statements. More >>
CORRECT: Transpower $30M over budget on North Island upgrade
Friday, 18 May 2012, 10:18 am | BusinessDesk
May 18 (BusinessDesk) - Transpower New Zealand, the state-owned operator of the national power grid, has run $30 million over budget on its North Island grid upgrade, which is now forecast to cost $894 million. More >>
Methven profit meets forecast as sales drop 13%
Friday, 18 May 2012, 9:58 am | BusinessDesk
May 18 (BusinessDesk) - Methven, the tapware and bathroom fittings manufacturer that dropped out of the NZX 50 this year, met full-year profit guidance even as its Australian and New Zealand sales weakened. Net profit rose to $6.5 million, or 9.7 cents per ... More >>
Guinness Peat a third of the way through divestments
Friday, 18 May 2012, 9:39 am | BusinessDesk
May 18 (BusinessDesk) - Guinness Peat Group, the diversified investor winding up its portfolio to return funds to shareholders, has sold about a third of its assets since embarking on a divestment programme last year. More >>
Transpower runs $30M over budget on North Island upgrade
Friday, 18 May 2012, 9:28 am | BusinessDesk
May 18 (BusinessDesk) - Transpower New Zealand, the state-owned operator of the national power grid, has run $30 million over budget on its North Island grid upgrade, which is now forecast to cost $894 million. More >>
NZ dollar falls amid concerns over Spanish banks
Friday, 18 May 2012, 8:42 am | BusinessDesk
May 18 (BusinessDesk) - The New Zealand dollar fell amid concerns about the strength of Spain's banking system amid rumours of a run on cash at the recently nationalised Bankia SA, heightening speculation that the region's debt crisis is spreading. More >>
While you were sleeping: Flight to quality intensifies
Friday, 18 May 2012, 7:43 am | BusinessDesk
May 18 (BusinessDesk) - Investors are running for the hills by opting for the relative safety of the fixed-income securities deemed safest as the turmoil in Europe continues, fanning the fire of concern over the risk of a euro break-up. More >>
MARKET CLOSE: NZ shares rise on Ryman’s record profit
Thursday, 17 May 2012, 5:36 pm | BusinessDesk
May 17 (BusinessDesk) – New Zealand shares rose, led by Ryman Healthcare, after the retirement village operator posted record earnings. Briscoe Group rose after the retailer said it will pay a special dividend while Rakon fell after posting a ... More >>
NZ dollar pares drop as Fed minutes renew prospects of QE3
Thursday, 17 May 2012, 5:35 pm | BusinessDesk
May 17 (BusinessDesk) - The New Zealand dollar pared losses in local trading as tremors over Greece's potential exit from the euro-zone settled down, and the minutes from the latest US Federal Reserve meeting showed policymakers may be prepared to further ... More >>
PGC's Torchlight sells down Heartland stake in $4.9M sale
Thursday, 17 May 2012, 4:06 pm | BusinessDesk
May 17 (BusinessDesk) - Pyne Gould Corp subsidiary Torchlight Securities sold down its stake in lender Heartland New Zealand for $4.9 million in an on-market sale yesterday. More >>
Regulator tools too blunt for web-TV convergence: Quickflix
Thursday, 17 May 2012, 3:46 pm | BusinessDesk
May 17 (BusinessDesk) - The Commerce Commission's tools are too blunt to deal with the growing convergence between telecommunications companies and broadcasters, and an independent regulator would be a better option for the sector, according to ASX-listed ... More >>
Ryman may seek ASX listing as shares reach record high
Thursday, 17 May 2012, 2:42 pm | BusinessDesk
May 17 (BusinessDesk) - Ryman Healthcare, the rest-home operator whose shares reached a record high today, may seek a listing on the ASX as it looks across the Tasman to extend a decade of profit growth. More >>
NZ consumer confidence unchanged in May, outlook cautious
Thursday, 17 May 2012, 2:21 pm | BusinessDesk
May 17 (BusinessDesk) - New Zealand consumer confidence was unchanged in May from a month earlier, as households remain cautious about spending money. More >>
MIDDAY UPDATE: Rakon stock drops with earnings
Thursday, 17 May 2012, 12:11 pm | BusinessDesk
May 17 (BusinessDesk) – Rakon shares fell 9.3 percent after the manufacturer of crystal oscillators used in mobile phones and navigation systems said a high kiwi dollar and weaker demand from the telecommunications industry weighed on full-year ... More >>
Australian, NZ tourism groups vow to challenge departure tax
Thursday, 17 May 2012, 12:00 pm | BusinessDesk
May 16 (BusinessDesk) – Australia’s tourism lobby groups are getting in behind a challenge to that nation’s 17 percent hike in departure tax, which may squeeze New Zealand’s biggest source of visitors. More >>
Insurance Australia reviews, may sell, British operations
Thursday, 17 May 2012, 11:56 am | BusinessDesk
May 17 (BusinessDesk) - Insurance Australia Group said it has begun a strategic review of its British operations which may result in them being put up for sale. More >>
