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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 1379]
NZ dollar pares gains as IMF commits US$430bn to Europe
Monday, 23 April 2012, 9:00 am | BusinessDesk
April 20 (BusinessDesk) – The New Zealand dollar pared offshore trading gains at the open of local trading as investors digested news the International Monetary Fund will commit US$430 billion in fresh money to protect the world economy against Europe’s ... More >>
MARKET CLOSE: NZ shares fall; Cavalier leads slide
Friday, 20 April 2012, 5:48 pm | BusinessDesk
April 20 (BusinessDesk) – New Zealand shares fell, led by Cavalier, after the carpet maker said charges to restructure its carpets business may wipe out profits this year. SkyCity Entertainment Group gained as debate continues about its deal to build ... More >>
NZ dollar decline on tepid inflation outlook, euro fears
Friday, 20 April 2012, 5:19 pm | BusinessDesk
April 20 (BusinessDesk) – The New Zealand dollar is poised for a 1 percent weekly decline as a tepid inflation outlook looks likely to keep local interest rates low for an extended period and Europe’s sovereign debt woes threaten to re-emerge. More >>
MONEY TALKS: The strength of good advice – a cautionary tale
Friday, 20 April 2012, 4:45 pm | BusinessDesk
One such tragic story this week was the news that north Taranaki iwi Ngati Tama squandered almost all of its $14.5 million Treaty settlement through a blunder-fest of poor investments. More >>
‘Three avenues to drive a truck through’ on privatisation
Friday, 20 April 2012, 3:33 pm | BusinessDesk
April 20 (BusinessDesk) –Partially privatised state-owned enterprises have shown they have at least three ways to get around the 50 percent Crown ownership clause that underpins the government’s unpopular asset sales programme, says Labour’s ... More >>
Snapper says Wellington card usage reaches 80%, eyes parking
Friday, 20 April 2012, 3:25 pm | BusinessDesk
April 20 (BusinessDesk) – Snapper, the contactless card payments system used on Infratil’s commuter buses, says Wellington’s usage has reached 80 percent penetration and it’s now eyeing parking payment opportunities. More >>
Fay group confirms appeal on Crafar decision remains live
Friday, 20 April 2012, 3:11 pm | BusinessDesk
April 20 (BusinessDesk) – The New Zealand consortium chasing the Crafar farms says its appeal will go ahead against aspects of the court decision that forced the government to reconsider its support for their sale to Chinese buyers. More >>
COMMENT: Crafar a welcome end to a weird week
Friday, 20 April 2012, 3:08 pm | BusinessDesk
April 20 (BusinessDesk) – The Crafar farm decision is as much a relief as anything, at the end of a week of maddening crap talked about the economy. More >>
Court of Appeal leaves Hotchin assets frozen
Friday, 20 April 2012, 2:57 pm | BusinessDesk
April 20 (BusinessDesk) – The Court of Appeal has rejected an attempt by former Hanover Finance boss Mark Hotchin to replace the court-ordered freeze on his personal assets with less onerous “formal undertakings.” More >>
Woolworths lifts supermarket sales in NZ by 2.9%
Friday, 20 April 2012, 1:31 pm | BusinessDesk
April 20 (BusinessDesk) – Woolworths, which has about 40 percent of New Zealand’s supermarket sales, lifted revenue by 2.9 percent at its Countdown-brand stores in the third quarter of the current financial year and claimed an increase in market ... More >>
MIDDAY UPDATE: Shanghai Pengxin approved as Crafar buyer
Friday, 20 April 2012, 12:02 pm | BusinessDesk
Chinese firm Shanghai Pengxin’s controversial bid to buy 16 central North Island dairy farms has been approved by Land Information Minister Maurice Williamson and Associate Finance Minister Jonathan Coleman. More >>
Diplomats clear Crafar farms buyer of underworld links
Friday, 20 April 2012, 11:55 am | BusinessDesk
April 20 (BusinessDesk) – New Zealand diplomats working with China’s Ministry of Public Security cleared Jiang Zhaobai, owner of Crafar farms buyer Shanghai Pengxin Group, of a historic underworld connection in validating his good character, according ... More >>
Shanghai Pengxin gets government nod to buy Crafar farms
Friday, 20 April 2012, 11:37 am | BusinessDesk
April 20 (BusinessDesk) – Chinese firm Shanghai Pengxin’s controversial bid to buy 16 central North Island dairy farms has been approved by Land Information Minister Maurice Williamson and Associate Finance Minister Jonathan Coleman. The ministers ... More >>
Marvellous Power Co targets churches with discount scheme
Friday, 20 April 2012, 11:15 am | BusinessDesk
April 18 (BusinessDesk) – Marvellous Lovely Power Co, a West Auckland-based company, is targeting Pacific Island churches under a prompt payment discount scheme with electricity retailer Pulse Utilities to help congregations cut their power bills. More >>
Cavalier forecasts FY loss after charges, no dividend
Friday, 20 April 2012, 10:51 am | BusinessDesk
April 20 (BusinessDesk) - Cavalier Corp, New Zealand’s only listed carpet maker, said it may post a full-year loss as it takes steps to restructure its broadloom carpet business, ruling out any dividend payment. The shares fell 11 percent to a ... More >>
APN chairman O’Reilly quits in exit from Independent News
Friday, 20 April 2012, 9:06 am | BusinessDesk
April 20 (BusinessDesk) – APN News & Media chairman Gavin O’Reilly has stepped down from the board as part of an exit from Irish parent Independent News & Media. More >>
NZ dollar falls as Euro bond auctions fail to quell fears
Friday, 20 April 2012, 8:35 am | BusinessDesk
NZ dollar falls after strong demand for Spanish bonds fails to quell debt crisis fears More >>
While you were sleeping: US economic data downer
Friday, 20 April 2012, 7:33 am | BusinessDesk
April 20 (BusinessDesk) - Stocks on Wall Street and in Europe declined amid concern about US growth after reports showed that a larger-than-expected number of Americans filed claims for unemployment benefits as well as an unexpected drop in sales of ... More >>
MARKET CLOSE: NZ shares rise; Rakon, Sky TV gain, SKC falls
Thursday, 19 April 2012, 5:58 pm | BusinessDesk
April 19 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index to the highest since mid-March. Sky Network Television rose after being exempted from a telecommunications charge while Sky City Entertainment fell amid calls for the government ... More >>
NZ dollar pares decline after benign 1Q inflation
Thursday, 19 April 2012, 5:17 pm | BusinessDesk
April 19 (BusinessDesk) – The New Zealand dollar pared its decline in the local trading session after government figures showed benign first-quarter inflation, and markets prepare for Spain’s long-dated government bond auction. More >>
