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Independent, Trustworthy New Zealand Business News
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BusinessDesk - Latest News [Page 1386]
Bridgecorp decision hits Petricevic, Roest hardest
Thursday, 5 April 2012, 6:43 pm | BusinessDesk
April 5 (BusinessDesk) – The mammoth Bridgecorp judgment delivered by Judge Geoffrey Venning in the High Court in Auckland highlights the sliding scale of guilt among disgraced directors of failed lenders. More >>
Blues chairman Muir stands down as Hanover proceeding looms
Thursday, 5 April 2012, 5:37 pm | BusinessDesk
April 5 (BusinessDesk) –The chairman of the Auckland Super 15 rugby franchise, Greg Muir, has stood down from the board of the Auckland-based rugby franchise due to “other business matters.” More >>
NZ dollar gains in lead-up to Easter as US jobs data looms
Thursday, 5 April 2012, 5:21 pm | BusinessDesk
April 5 (BusinessDesk) – The New Zealand dollar gained in the local trading session as investors prepare for the long Easter weekend, when US employment figures will be released on Friday and are expected to show more signs of life in the world’s ... More >>
MARKET CLOSE: NZ shares fall in shortened trading week
Thursday, 5 April 2012, 5:20 pm | BusinessDesk
April 5 (BusinessDesk) – New Zealand shares fell, to end the shortened trading week lower, paced by Telecom and Fletcher Building, as the local bourse reflected generally weaker equity markets across the Asia Pacific region. More >>
GE Money shrugs off parent company’s downgrade
Thursday, 5 April 2012, 4:42 pm | BusinessDesk
April 5 (BusinessDesk) - GE Money, the New Zealand consumer finance company ultimately owned by General Electric, has shrugged off its parent’s credit rating downgrade saying it doesn’t expect much impact on funding costs. More >>
CORRECTION: NZF Money receivers file proceedings against NZF
Thursday, 5 April 2012, 3:51 pm | BusinessDesk
April 5 (BusinessDesk) – The receivers for NZF Money will file proceedings against parent company NZF Group and its directors over the restructuring of its home loans unit in 2010 and are looking to freeze the firm’s assets. More >>
Bridgecorp’s found directors guilty
Thursday, 5 April 2012, 2:31 pm | BusinessDesk
April 5 (BusinessDesk) – The directors of failed lender Bridgecorp have been found guilty of making untrue statements in offer documents, managing director Rod Petricevic and chief financial officer Rob Roest were remanded in custody. More >>
FMA releases revised draft disclosure guidance note
Thursday, 5 April 2012, 1:14 pm | BusinessDesk
April 5 (BusinessDesk) – The Financial Markets Authority has released an updated draft on its preference for how companies should prepare offer documents and is seeking more feedback before settling on a final version. More >>
Solid Energy could float subsidiaries to skirt Crown cap
Thursday, 5 April 2012, 1:12 pm | BusinessDesk
April 5 (BusinessDesk) – State-owned coal miner Solid Energy chair John Palmer gave the strongest hint yet that the government will either float less than 49 percent of the company or allow it to fully privatise major new projects, such as lignite ... More >>
Capital + Merchant receivers can appeal GST liability
Thursday, 5 April 2012, 12:19 pm | BusinessDesk
April 5 (BusinessDesk) – The receivers for failed lender Capital + Merchant Investments (CMI) have won the right to appeal a High Court judgment that left them personally liable for a tax bill from the sale of five mortgagee properties, though they’re ... More >>
MIDDAY UPDATE: Bridgecorp directors found guilty
Thursday, 5 April 2012, 12:00 pm | BusinessDesk
April 5 (BusinessDesk) – The directors of failed lender Bridgecorp have been found guilty of making untrue statements in offer documents, according to media reports. Petricevic and Roest have been remanded in custody, according to reports. More >>
MightyRiver wasted $100mln looking for gas, CEO says
Thursday, 5 April 2012, 11:50 am | BusinessDesk
MightyRiver wasted $100mln looking for gas, CEO says By Pattrick Smellie April 5 (BusinessDesk) – State-owned MightyRiverPower wasted around $100 million on an unnecessary hunt for natural gas in the last decade, its chief executive Doug Heffernan ... More >>
Quickflix, targeting NZ sales, signs content deal with ITV
Thursday, 5 April 2012, 11:36 am | BusinessDesk
April 5 (BusinessDesk) – Quickflix, the ASX-listed supplier of streaming and online movies and television shows that’s targeting sales in New Zealand, has signed a content licensing agreement with ITV Studios Global Entertainment. More >>
NZF Money receivers file proceedings against parent NZF
Thursday, 5 April 2012, 11:29 am | BusinessDesk
April 5 (BusinessDesk) – The receivers for NZF Money will file proceedings against parent company NZF Group and its directors over the restructuring of its home loans unit in 2010 and are looking to freeze the firm’s assets. More >>
Bridgecorp’s Petricevic, Roest & Steigrad found guilty
Thursday, 5 April 2012, 10:39 am | BusinessDesk
April 5 (BusinessDesk) – The directors of failed lender Bridgecorp have been found guilty of making untrue statements in offer documents, according to media reports. More >>
New car sales exceed March expectations, MTA says
Thursday, 5 April 2012, 10:21 am | BusinessDesk
April 5 (BusinessDesk) – New car sales exceeded expectations in March, led by an increase in the number of new car passenger sales. More >>
4RF placed in receivership over call from noteholders
Thursday, 5 April 2012, 10:19 am | BusinessDesk
April 5 (BusinessDesk) – 4RF Communications, which sells microwave radio products worldwide from its base in Wellington, has been placed in receivership after it failed to reach agreement on restructuring some $5.5 million of convertible notes. More >>
NZ dollar falls after Spanish bond sale saps risk appetite
Thursday, 5 April 2012, 8:40 am | BusinessDesk
April 5 (BusinessDesk) – The New Zealand dollar fell after weak demand at a Spanish bond auction caused stocks on Wall Street to fall, reigniting fears the region’s sovereign-debt crisis is far from over. More >>
From the Farm: Who to believe
Thursday, 5 April 2012, 8:16 am | BusinessDesk
Nosh, the upscale supermarket chain, has become the poster child retailer for New Zealand's farming lobby. More >>
While you were sleeping: Tepid demand for Spanish debt
Thursday, 5 April 2012, 7:38 am | BusinessDesk
April 5 (BusinessDesk) - Spain's struggle to drum up demand for new bonds raised not only the nation's borrowing costs but also the spectre that the euro zone's sovereign debt crisis is far from over. Equities on both sides of the Atlantic fell as a result. More >>
