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BusinessDesk - Latest News [Page 1376]

Bathurst drops waterborne coal transport for aerial system

Friday, 27 April 2012, 10:22 am | BusinessDesk

April 27 (BusinessDesk) – Bathurst Resources has dropped plans for a pipeline to carry coal from the Denniston Plateau to the coast in favour of an aerial system, in a compromise deal that has seen residents of the Fairdown township drop their ... More >>

Lower production, high dollar push OceanaGold to 1Q loss

Friday, 27 April 2012, 10:22 am | BusinessDesk

April 27 (BusinessDesk) – OceanaGold Corp, which operates the Macraes gold field near Dunedin, posted a first-quarter loss after it pulled less gold out of the ground and had to contend with a tough foreign exchange environment. More >>

NZX censures Heritage Gold on Listing Rules breaches

Friday, 27 April 2012, 9:57 am | BusinessDesk

April 27 (BusinessDesk) – NZX-listed miner Heritage Gold has been fined $15,000 and required to pay NZX legal costs of $6,158 after the exchange operator identified two breaches of its Listing Rules relating to independent directors and composition ... More >>

Allied Farmers lifts provision for loan guarantee to $1.4M

Friday, 27 April 2012, 9:45 am | BusinessDesk

April 27 (BusinessDesk) – Allied Farmers, the company that took over Hanover Finance’s loan obligations, said it has increased a provision for any shortfall in a $7 million loan guarantee sold by its asset management services unit. More >>

NZ dollar holds gains on upbeat US housing data, earnings

Friday, 27 April 2012, 9:21 am | BusinessDesk

April 27 (BusinessDesk) – The New Zealand dollar held gains in Northern Hemisphere trading as better than expected US house sales and upbeat first-quarter earnings stoked investors’ appetite for bigger returns. More >>

Meridian Energy declares $71.3M interim dividend

Friday, 27 April 2012, 9:11 am | BusinessDesk

April 27 (BusinessDesk) – Meridian Energy will pay a $71.3 million dividend on its earnings for the first half of the financial year, in line with its dividend policy of a 75 percent payout ratio. More >>

While you were sleeping: Pending US home sales rise

Friday, 27 April 2012, 7:22 am | BusinessDesk

April 27 (BusinessDesk) - Better-than-expected US housing data and a fresh wave of solid first-quarter earnings underpinned Wall Street. More >>

Restaurant roughing-up reduces Petricevic’s jail time

Thursday, 26 April 2012, 5:52 pm | BusinessDesk

April 26 (BusinessDesk) – Disgraced Bridgecorp boss Rod Petricevic got a “modest reduction” to his jail-time as a warning against vigilante justice after disgruntled investors roughed him up in 2009. More >>

MARKET CLOSE: NZ shares mixed; Telecom drops, Summerset up

Thursday, 26 April 2012, 5:33 pm | BusinessDesk

April 26 (BusinessDesk) – New Zealand shares were mixed. Companies that have rallied the hardest this year, including Telecom, paced the decline. Summerset Group, the retirement home operator that went public in October, set a new record high. More >>

NZ dollar gains as traders call Bollard’s bluff on rates cut

Thursday, 26 April 2012, 5:11 pm | BusinessDesk

April 26 (BusinessDesk) – The New Zealand dollar gained in local trading in spite of an attempt to Reserve Bank Governor Alan Bollard to talk down the currency when he kept interest rates at their record low this morning. More >>

NZ Refining expansion best option, but ‘no game-changer’

Thursday, 26 April 2012, 4:35 pm | BusinessDesk

April 24 (BusinessDesk) – Investing $365 million at the Marsden Point oil refinery over the next four years is better than a lesser $105 million refit, but it won’t be a “game changer” for the country’s only oil refining facility, says Craig’s ... More >>