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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 1392]
Parliament’s environment watchdog launches fracking inquiry
Wednesday, 28 March 2012, 2:12 pm | BusinessDesk
March 27 (BusinessDesk) – The Parliamentary Commissioner for the Environment is to undertake an independent inquiry into the oil and gas mining practice known as “fracking” amid growing public concern about its capacity to pollute groundwater ... More >>
From the Farm: Fonterra’s big change
Wednesday, 28 March 2012, 1:08 pm | BusinessDesk
Fonterra won a mandate from its farmer-shareholders in 2009 to overhaul its capital structure. More >>
MIDDAY UPDATE: Treasury passive in early days of guarantee
Wednesday, 28 March 2012, 11:58 am | BusinessDesk
March 28 (BusinessDesk) – The Treasury, charged with overseeing the retail deposit guarantee scheme that will end up costing taxpayers up to $1.1 billion, looked on passively as finance companies used the guarantee to hoover up investor funds and ... More >>
Christchurch hotels slow to reopen, say NZ Hotel Council
Wednesday, 28 March 2012, 11:48 am | BusinessDesk
March 28 (BusinessDesk) – Reopening Christchurch hotels has become a slow process because of severe aftershocks and delays from insurers and local authorities, says the NZ Hotel Council. More >>
Deposit guarantee spurred flurry of finance company activity
Wednesday, 28 March 2012, 11:31 am | BusinessDesk
Finance companies hoovered up funds in early days of deposit guarantee as Treasury looked on More >>
Hallenstein Glasson 1H profit rises 26% on record Christmas
Wednesday, 28 March 2012, 10:55 am | BusinessDesk
March 28 (BusinessDesk) – Hallenstein Glasson Holdings, the clothing retailer, first-half earnings rose 27 percent after a record Christmas and a strong January in the New Zealand market. More >>
Finzsoft to post year net loss between $400K and $550K
Wednesday, 28 March 2012, 10:40 am | BusinessDesk
March 28 (BusinessDesk) – Finzsoft Solutions, the financial software company, said it expects to report a full-year loss between $400,000 and $550,000 for the year ending on Saturday as a result of a US customer defaulting and a failed sales pitch. More >>
NZ dollar rises to 5-mth high vs. Australian dollar
Wednesday, 28 March 2012, 8:59 am | BusinessDesk
NZ dollar rises to 5 mth high vs. Australian dollar on speculation RBA could cut rates early More >>
Proposed law change opens Fonterra pricing to more scrutiny
Wednesday, 28 March 2012, 8:16 am | BusinessDesk
March 28 (BusinessDesk) - Fonterra Cooperative Group's farm gate milk price will get greater public scrutiny under a bill that attempts to limit the dairy giant's ability to game the market and heralds its plan to introduce tradable shares. More >>
While you were sleeping: US consumers confident
Wednesday, 28 March 2012, 7:32 am | BusinessDesk
March 28 (BusinessDesk) - The latest data on US consumer confidence was slightly ahead of expectations, keeping alive optimism that the world's largest economy will expand at a clip to warrant the recent gain in stock prices. More >>
MARKET CLOSE: NZ shares join global rally; Telecom gains
Tuesday, 27 March 2012, 6:10 pm | BusinessDesk
March 27 (BusinessDesk) - New Zealand shares rose, joining as global rally sparked by Federal Reserve Chairman Ben Bernanke's pledge to keep US monetary policy accommodative. Telecom and Fletcher Building, the biggest companies on the bourse, drove gains. More >>
NZX board seeks 16% bump to fee pool at Weldon’s swansong AG
Tuesday, 27 March 2012, 6:04 pm | BusinessDesk
March 27 (BusinessDesk) – The board of NZX, the stock exchange operator, will ask shareholders for a 16 percent increase in their fee pool at outgoing chief executive Mark Weldon’s final annual meeting. More >>
Port to pay MUNZ workers till Friday, hold off contracting
Tuesday, 27 March 2012, 5:50 pm | BusinessDesk
March 28 (BusinessDesk) – Ports of Auckland will pay locked out union members until this Friday, and will hold off contracting non-union stevedoring services for two weeks longer than previously announced. More >>
Abano expects lower annual profit despite higher sales
Tuesday, 27 March 2012, 5:18 pm | BusinessDesk
March 27 (BusinessDesk) - Abano Healthcare Group expects annual net profit will probably fall, despite strong operating profit and sales growth, reflecting the company's continued transition after selling its New Zealand audiology operations. More >>
NZ dollar holds near week-high; Bernanke talks down rates
Tuesday, 27 March 2012, 5:13 pm | BusinessDesk
March 27 (BusinessDesk) – The New Zealand dollar held near a week-high against the greenback after US Federal Reserve chairman Ben Bernanke talked down the prospect of raising interest rates in the face of persistently high American unemployment. More >>
Quake-friendly wood firm gets first orders in Christchurch
Tuesday, 27 March 2012, 4:18 pm | BusinessDesk
March 27 (BusinessDesk) – Structural Timber Innovation Co, which makes engineered construction lumber able to stand up to earthquakes, has won its first two orders for buildings in Christchurch. More >>
TVNZ 1H profit more than triples, may lift dividend
Tuesday, 27 March 2012, 3:14 pm | BusinessDesk
March 27 (BusinessDesk) – Television New Zealand, the state broadcaster, more than tripled its first-half profit, putting the government in line for a fat dividend at the end of the year when the board reviews its return. More >>
House prices will rise in 2012, stall in 2013, Westpac says
Tuesday, 27 March 2012, 1:43 pm | BusinessDesk
March 27 (BusinessDesk) - House prices may rise 5% in 2012 before growth stalls next year because of rising interest rates and a boost in construction, says Westpac chief economist Dominick Stephens. More >>
John Palmer and Henry van der Heyden join Rabobank NZ board
Tuesday, 27 March 2012, 1:17 pm | BusinessDesk
March 27 (BusinessDesk) – Dutch agricultural banking giant Rabobank is refreshing its New Zealand board with the addition of retiring Fonterra chairman Henry van der Heyden and the chairman of Air New Zealand John Palmer. More >>
Arab Spring opens door for Burger Fuel in post-Gaddafi Libya
Tuesday, 27 March 2012, 12:58 pm | BusinessDesk
March 27 (BusinessDesk) – Burger Fuel Worldwide, the local fast-food chain targeting franchises in the Middle East, has signed up a new franchisee in post-Gaddafi Libya. More >>
