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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 1391]
UPDATED: Lombard’s Graham, ‘old men’ get community work
Thursday, 29 March 2012, 5:35 pm | BusinessDesk
March 29 (BusinessDesk) – All four directors of Lombard Finance and Investments has escaped prison sentences although former chief executive Michael Reeves only escaped prison or home detention because of ill health and family obligations. More >>
Doug Graham gets 300 hrs community work, $100k Lombard fine
Thursday, 29 March 2012, 5:05 pm | BusinessDesk
March 29 (BusinessDesk) – All four directors of Lombard Finance and Investments has escaped prison sentences although former chief executive Michael Reeves only escaped prison or home detention because of ill health and family obligations. More >>
Fonterra Council balks at 'interventionist' dairy bill
Thursday, 29 March 2012, 4:51 pm | BusinessDesk
March 29 (BusinessDesk) – Fonterra’s shareholders’ council says the overhaul of the dairy cooperative’s enabling legislation will end up regulating farmers’ earnings and sapping the life from New Zealand’s biggest export. More >>
Telecom last to renew 2031 mobile spectrum rights
Thursday, 29 March 2012, 2:25 pm | BusinessDesk
March 29 (BusinessDesk) – Telecom has renewed the spectrum it needs for its mobile network, the last of New Zealand’s mobile companies to lock in its bandwidth until 2031. More >>
Lombard sentence pales next to stigma of conviction: defence
Thursday, 29 March 2012, 2:11 pm | BusinessDesk
March 29 (BusinessDesk) – Defence lawyers for the convicted Lombard Finance & Investments directors say the criminality of their offending is at the bottom end of the range, and the prospect of a sentence pales compared to the stigma of a criminal ... More >>
Construction-led improvement in NZ business confidence
Thursday, 29 March 2012, 1:41 pm | BusinessDesk
March 29 (BusinessDesk) – The construction industry is leading business confidence higher in the latest National Bank Business Outlook survey, reflecting expectations of the Christchurch rebuild kicking into life. More >>
Where did our shareholders go? asks West Coast lime works
Thursday, 29 March 2012, 12:53 pm | BusinessDesk
March 28 (BusinessDesk) – Koiterangi Lime Co, a lime works established by a group of farmers near Hokitika in 1923, has embarked on a national search for its aging shareholders in an effort to tidy up its register. More >>
wn pushes for custodial sentence in Lombard Finance case
Thursday, 29 March 2012, 12:34 pm | BusinessDesk
March 29 (BusinessDesk) – The Crown is seeking a custodial sentence for the directors of failed lender Lombard Finance and Investments while the defence is arguing that community service or a fine is more appropriate. More >>
MIDDAY UPDATE: Jail sought for Lombard 4; Fonterra profit up
Thursday, 29 March 2012, 12:17 pm | BusinessDesk
March 29 (BusinessDesk) – The four directors of Lombard Finance & Investment are waiting to see if they will receive a jail sentence in Wellington’s High Court today. More >>
Christchurch quake was third-most expensive in history
Thursday, 29 March 2012, 12:08 pm | BusinessDesk
March 29 (BusinessDesk) – Christchurch’s Feb. 22 earthquake was the third most expensive insured natural catastrophe in history, according to Swiss Re. More >>
NZ Post lifts cost of domestic letter to 70 cents on July 1
Thursday, 29 March 2012, 10:44 am | BusinessDesk
March 29 (BusinessDesk) – New Zealand Post Group, the state-owned postal service, is increasing the cost of a standard domestic letter to 70 cents starting on July 1. More >>
Rangatira invests $5M in ‘high-growth’ Xero, Valar, NZ fund
Thursday, 29 March 2012, 10:05 am | BusinessDesk
March 29 (BusinessDesk) – Rangatira, the Wellington-based investment company, has invested about $5 million in high-growth ventures including, online accounting software provider, Xero, Valar Ventures and the New Zealand Growth Fund. More >>
Fonterra 1H profit rises 18% as sales rise, margins fatten
Thursday, 29 March 2012, 10:03 am | BusinessDesk
March 29 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest exporter of dairy products, posted an 18 percent gain in first-half profit on increased sales and higher prices from its ingredients business in a period when it collected record ... More >>
SMELLIE ON SMEs: Attracting capital from cautious angels
Thursday, 29 March 2012, 9:42 am | BusinessDesk
March 28 (BusinessDesk) – Figures from the New Zealand Venture Investment Fund suggest it’s getting harder for new ventures to raise capital, with angel investors preferring either to top up existing ventures or to sit tight through tough times. More >>
NZ dollar rises to 5-month high vs. Australian dollar
Thursday, 29 March 2012, 8:59 am | BusinessDesk
NZ dollar rises to 5-month high vs. Australian dollar as China’s economy slows More >>
While you were sleeping: Economy, oil hit stocks
Thursday, 29 March 2012, 7:41 am | BusinessDesk
March 29 (BusinessDesk) - Equities dropped after a weaker-than-expected report on US manufacturing and a decline in oil prices as France appears set to join the US and the UK in tapping some of its strategic oil reserves. More >>
MARKET CLOSE: NZ shares mixed; Chorus up, Fletcher down
Wednesday, 28 March 2012, 5:48 pm | BusinessDesk
March 28 (BusinessDesk) - New Zealand shares were mixed, with the NZX 50 Index edging up 0.1 percent led by gains in Chorus and Contact Energy, while Fletcher Building fell after shedding its first-half dividend. More >>
Air NZ cuts Beijing services to concentrate on Shanghai
Wednesday, 28 March 2012, 5:33 pm | BusinessDesk
March 28 (BusinessDesk) - Air New Zealand plans to cut its twice-weekly direct flights between Auckland and Beijing in order to concentrate on services to Shanghai which it will add a fifth weekly service in moves it calls an “expansion” of services ... More >>
NZ dollar gains vs. Australian dollar as China slowdown eyed
Wednesday, 28 March 2012, 5:12 pm | BusinessDesk
March 28 (BusinessDesk) – The New Zealand dollar extended its rally against its Australian counterpart in local trading as the threat of a Chinese slowdown weighs more heavily on the mineral-rich ‘lucky country’. More >>
Mercer CEO Shepherd asks for early exercise of $1M options
Wednesday, 28 March 2012, 4:27 pm | BusinessDesk
March 28 (BusinessDesk) – Mercer Group boss Rodger Shepherd, who is tasked with restructuring the unprofitable stainless steel fabricator, wants to exercise his first tranche of options early and will put it to shareholders at a special meeting. More >>
