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Independent, Trustworthy New Zealand Business News
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BusinessDesk - Latest News [Page 1377]
George Kerr takes over Pyne Gould management as Duncan exits
Thursday, 26 April 2012, 10:18 am | BusinessDesk
April 26 (BusinessDesk) – Pyne Gould Corp’s biggest shareholder, George Kerr, will take over running the wealth management firm after managing director John Duncan signalled his exit today. More >>
RESEND: Independent News director files suit over CEO exit
Thursday, 26 April 2012, 9:37 am | BusinessDesk
April 26 (BusinessDesk) – Independent News & Media, the Irish parent of Australia’s APN News & Media, says a director has filed a lawsuit claiming payments to departing chief executive Gavin O’Reilly are unlawful. More >>
Independent News director launches suit over CEO payment
Thursday, 26 April 2012, 9:30 am | BusinessDesk
April 26 (BusinessDesk) – Independent News & Media, the Irish parent of Australia’s APN News & Media, says a director has filed a lawsuit against claiming payments to departing chief executive Gavin O’Reilly are unlawful. More >>
Bollard holds OCR unchanged on tame inflation, kiwi strength
Thursday, 26 April 2012, 9:07 am | BusinessDesk
April 26 (BusinessDesk) – Reserve Bank Governor Alan Bollard held the official cash rate at 2.5 percent citing the “restrained” outlook for inflation, while warning that the kiwi dollar’s strength may prompt a review of monetary policy ... More >>
NZ dollar gains before OCR review, Fed sees moderate growth
Thursday, 26 April 2012, 8:52 am | BusinessDesk
April 26 (BusinessDesk) – The New Zealand dollar rose ahead of the central bank’s review of interest rates and after the Federal Reserve said it saw “moderate” growth in the US economy, though with downside global risks. More >>
While you were sleeping: Apple, Fed boost stocks
Thursday, 26 April 2012, 6:44 am | BusinessDesk
April 26 (BusinessDesk) - Apple's earnings highlighted that corporate America is by and large weathering a storm of economic uncertainty elsewhere, while US Federal Reserve policy makers said they expect the pace of growth to gather steam. More >>
While you were sleeping: Results underpin optimism
Wednesday, 25 April 2012, 7:15 am | BusinessDesk
April 25 (BusinessDesk) - Earnings that exceeded expectations helped lift the mood and equity markets on both sides of the Atlantic. More >>
RBNZ to hike OCR from December: AMP Capital
Tuesday, 24 April 2012, 6:48 pm | BusinessDesk
April 24 (BusinessDesk) – The Reserve Bank will probably embark on tighter monetary policy in December with an eye to a neutral official cash rate target of 4.5 percent, according to fund manager AMP Capital Investors. More >>
Banks fear extra costs from NZ’s go-it-alone regulations
Tuesday, 24 April 2012, 6:45 pm | BusinessDesk
April 24 (BusinessDesk) - New Zealand banks are facing substantial extra costs as the local central bank pursues different, sometimes tougher regulations than are being imposed in other countries following the global financial crisis. More >>
MARKET CLOSE: NZ shares gain; Telecom lures investors
Tuesday, 24 April 2012, 5:46 pm | BusinessDesk
April 24 (BusinessDesk) - New Zealand shares rose, led by Telecom as investors were attracted to its dividend yield, ongoing share buyback and improving global sentiment for the sector. Summerset gained after the retirement home operator gave an upbeat ... More >>
NZ dollar gains on Aussie dollar after tepid inflation
Tuesday, 24 April 2012, 5:10 pm | BusinessDesk
April 24 (BusinessDesk) – The New Zealand dollar gained against its trans-Tasman counterpart after tepid first-quarter inflation figures stoked expectations the Reserve Bank of Australia will cut interest rates next month, heightening the appeal of the ... More >>
‘Pragmatic’ Ngati Porou oppose asset sales, but want a slice
Tuesday, 24 April 2012, 4:37 pm | BusinessDesk
April 24 (BusinessDesk) – Te Runanganui o Ngati Porou, the country’s second-biggest iwi, opposes the government’s plan to sell 49 percent of state-owned energy companies, but wants a slice of the action if the proposal goes ahead. More >>
Fonterra council has 'no view' on Trading Among Farmers
Tuesday, 24 April 2012, 2:32 pm | BusinessDesk
April 24 (BusinessDesk) – The Fonterra Shareholders’ Council, representing the cooperative’s 10,500 shareholder farmers, is sitting on the fence over the plan by the country’s largest multi-national business to allow trading in non-voting ... More >>
Australian CPI lower than expected, stoking bets on rate cut
Tuesday, 24 April 2012, 2:17 pm | BusinessDesk
April 24 (BusinessDesk) – Australian inflation was slower than expected in the first quarter, opening the door for the central bank to cut interest rates starting next week and driving down its currency versus the greenback and the kiwi dollar. More >>
PMP downgrades profit guidance, sharpens cost-cutting axe
Tuesday, 24 April 2012, 12:52 pm | BusinessDesk
April 24 (BusinessDesk) - Australia-based printing and distribution company PMP has again downgraded its annual profit expectations and is planning even deeper cost cuts. More >>
MIDDAY UPDATE: More kiwis leave for Oz; kiwi dollar dips
Tuesday, 24 April 2012, 12:07 pm | BusinessDesk
April 24 (BusinessDesk) - New Zealanders are showing no sign of losing their desire for a better life in Australia, with the annual outflow continuing at record levels in March even amid signs Australia’s economy is slowing. More >>
NZ exodus to Australia continues in March
Tuesday, 24 April 2012, 11:39 am | BusinessDesk
April 24 (BusinessDesk) – New Zealanders’ exodus to Australia continued in March as more kiwis look across the Tasman for a better quality of life, even as the so-called ‘lucky country’ looks vulnerable to an economic slowdown. More >>
Credit Sails probe awaits feedback from participants
Tuesday, 24 April 2012, 11:32 am | BusinessDesk
April 24 (BusinessDesk) – The Commerce Commission has completed its investigation into the Credit Sails notes that were sold to the public by brokerage Forsyth Barr in 2006 and are now virtually worthless. More >>
Govt to proceed with Innovation super-ministry
Tuesday, 24 April 2012, 11:08 am | BusinessDesk
April 24 (BusinessDesk) – The government has ticked off creation of a new super-ministry to oversee economic development, skills, innovation and science policy following a one month “due diligence” check on the major departmental restructuring required ... More >>
Productivity Commission urges curb on shippers' price fixing
Tuesday, 24 April 2012, 11:06 am | BusinessDesk
April 24 (BusinessDesk) – International shipping companies servicing New Zealand should have to seek regulatory clearance to engage in price fixing and other anti-competitive arrangements, the Productivity Commission says. More >>
