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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 1371]
NZ Dollar Outlook: Kiwi may fall on Euro polls, Chinese data
Monday, 7 May 2012, 12:23 pm | BusinessDesk
May 7 (BusinessDesk) - The New Zealand dollar may fall from a 3 ½-month low this week as investors search for fresh clues on the pace of global growth, digest the implications of leadership changes in France and Greece and data due out of China. More >>
MIDDAY UPDATE: NZ dollar falls after US jobs
Monday, 7 May 2012, 12:02 pm | BusinessDesk
May 7 (BusinessDesk) – The New Zealand dollar extended its loss after weaker-than-expected US jobs data and leadership changes in France and Greece sapped investors’ appetite for higher-yielding assets. More >>
PFI 1Q profit falls on lower sales, occupancy
Monday, 7 May 2012, 10:00 am | BusinessDesk
May 7 (BusinessDesk) - Property For Industry, which has a portfolio of 49 industrial properties nationwide, posted a decline in distributable profit fall on property sales and lower occupancy in the first quarter. More >>
Metlifecare to buy Vision Senior, Private Life for $216M
Monday, 7 May 2012, 9:43 am | BusinessDesk
May 7 (BusinessDesk) - Metlifecare, which raised $45.5 million of new capital last year, has agreed to buy rivals Vision Senior Living (VSL) and Private Life Care Holdings (PLC) in a deal worth some $216 million in stock and cash. More >>
NZ dollar extends loss on tepid US jobs; European elections
Monday, 7 May 2012, 8:44 am | BusinessDesk
May 7 (BusinessDesk) - The New Zealand dollar extended its loss after weaker-than-expected US jobs data and electoral leadership changes in France and Greece sapped investors' appetite for higher-yielding assets. More >>
Inquiry Board gives draft approval for Transmission Gully
Friday, 4 May 2012, 6:12 pm | BusinessDesk
May 4 (BusinessDesk) – A board of inquiry has given a draft thumbs up to the $1 billion Transmission Gully highway link north of Wellington, a key element of improving traffic flows between the capital and Levin. More >>
MARKET CLOSE: NZ shares fall; Chorus hurt by regulatory fear
Friday, 4 May 2012, 5:33 pm | BusinessDesk
May 4 (BusinessDesk) – New Zealand shares fell, led by Chorus amid disappointment that the regulator is proposing cheaper access to its copper lines, which has the potential to dent earnings. Telecom, from which Chorus was spun off last November, ... More >>
NZ dollar declines as US unemployment, Euro elections loom
Friday, 4 May 2012, 5:14 pm | BusinessDesk
May 4 (BusinessDesk) - The New Zealand dollar is poised for a 2.7 percent decline over the week as investors prepare for US jobs figures and general elections in France and Germany over the weekend. More >>
MONEY TALKS: Figured out your Telecom or Chorus choice?
Friday, 4 May 2012, 5:07 pm | BusinessDesk
Let's roll back the calendar five-and-a-bit months and reminisce about those halcyon days when Telecom first re-emerged as the titan of the stock market, unfettered by the government regulation, and Chorus cantered onto the scene with a billion-dollar ... More >>
Crown claws back $645M in SCF receivership
Friday, 4 May 2012, 4:26 pm | BusinessDesk
May 4 (BusinessDesk) - The Crown has clawed back $645 million of the $1.78 billion it stumped up to pay out depositors of South Canterbury Finance and is in negotiations to finalise its takeover of the failed lender's assets. More >>
Auckland Airport targets China in Ambition 2020 growth plan
Friday, 4 May 2012, 3:42 pm | BusinessDesk
May 4 (BusinessDesk) - Auckland International Airport, the country’s biggest gateway, is targeting growth from Asia, and China in particular, saying the region is set to provide the biggest growth in visitor arrivals by 2020. More >>
China’s economy stabilising, Europe the big risk, says RBA
Friday, 4 May 2012, 3:34 pm | BusinessDesk
May 4 (BusinessDesk) – The Reserve Bank of Australia judges some heat has come out of the Chinese economy though there are signs of stabilisation in the biggest market for Australia’s resources, according to its latest statement of monetary ... More >>
Pharmac and ‘public interest’ bottom line for TPP: Goff
Friday, 4 May 2012, 3:29 pm | BusinessDesk
May 4 (BusinessDesk) - New Zealand should support the creation of Trans-Pacific Partnership free trade negotiations, but bottom lines should include the right to negotiate fair pharmaceutical prices through Pharmac and to regulate in the public interest. More >>
Ports of Auckland names Patrick Snedden to replace Campbell
Friday, 4 May 2012, 2:23 pm | BusinessDesk
May 4 (BusinessDesk) – Ports of Auckland named Patrick Snedden, a veteran of community and government entity boards, as a director, replacing Rob Campbell, who quit in March in a dispute over strategy. More >>
Chorus says cheaper copper line access have ‘modest’ impact
Friday, 4 May 2012, 1:55 pm | BusinessDesk
May 4 (BusinessDesk) - Chorus, the telecommunications network operator carved out of Telecom last year, faces a “modest impact” on short-term earnings from the regulator's initial view that copper line prices should fall, though beyond 2015 ... More >>
Bathurst to seek fast-track for new mining infrastructure
Friday, 4 May 2012, 12:02 pm | BusinessDesk
May 4 (BusinessDesk) - West Coast coking coal miner Bathurst Resources is considering fast-tracked resource consents for future developments on the Denniston Plateau using the Environmental Protection Authority's process for projects of national significance. More >>
Trans-Tasman regulator info-sharing a step closer
Friday, 4 May 2012, 11:58 am | BusinessDesk
May 4 (BusinessDesk) - Legislation enabling antitrust regulators in Australia and New Zealand to share information is a step closer after languishing at the bottom of the government's programme for two years. More >>
MIDDAY UPDATE: Shearer’s pension policy; kiwi below 80 cents
Friday, 4 May 2012, 11:55 am | BusinessDesk
May 4 (BusinessDesk) - Labour Party leader David Shearer has adopted National Party policy by promising not to resume New Zealand Superannuation Fund contributions while the government runs deficits, but wants discussion on his party’s proposals to ... More >>
NZX picks Nasdaq system for trading platform
Friday, 4 May 2012, 11:42 am | BusinessDesk
May 4 (BusinessDesk) - NZX, the stock exchange operator, said it has chosen technology from Nasdaq, the world's largest exchange operator, to power its trading platform. More >>
Shearer not ready to drop higher pension age just yet
Friday, 4 May 2012, 10:58 am | BusinessDesk
May 4 (BusinessDesk) - Labour Party leader David Shearer has adopted National Party policy by promising not to resume New Zealand Superannuation Fund contributions while the government runs deficits, but wants discussion on his party’s proposals to ... More >>
