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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 1402]
NZ dollar gains on optimism global growth is reviving
Thursday, 8 March 2012, 6:02 pm | BusinessDesk
March 8 (BusinessDesk) – The New Zealand dollar recovered most of the ground it lost after Reserve Bank Governor Alan Bollard held the official cash rate at 2.5 percent, on optimism the global economic outlook is improving. The kiwi rose to 81.81 ... More >>
MARKET CLOSE: NZ shares gain, pushing NZX 50 to 7-mth high
Thursday, 8 March 2012, 5:54 pm | BusinessDesk
March 8 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index to a seven-month high, as signs global growth may be more resilient than feared lifted equity markets. Warehouse Group rose ahead of its interim results tomorrow. More >>
Bollard doesn’t see price pressure in property
Thursday, 8 March 2012, 4:56 pm | BusinessDesk
March 8 (BusinessDesk) – Reserve Bank Governor Alan Bollard isn’t seeing any evidence of undesirable pressure in property prices, but has a tool-kit handy if the threat of a housing boom rears its head. More >>
Consortium wins $900M tender to build, operate Wiri prison
Thursday, 8 March 2012, 12:52 pm | BusinessDesk
March 8 (BusinessDesk) – SecureFuture, a consortium made up of Fletcher Building, Serco, and Spotless Facility Services, has won the contract to build, operate and maintain the government’s 960-bed Wiri prison in South Auckland. More >>
From the Farm: Curse of the strong dollar
Thursday, 8 March 2012, 12:46 pm | BusinessDesk
Good news. Reserve Bank Governor Alan Bollard is in no hurry to raise interest rates. More >>
Greymouth Petroleum shareholders in $40mln stoush
Thursday, 8 March 2012, 12:12 pm | BusinessDesk
March 8 (BusinessDesk) – The smallest of three shareholders in private oil and gas company Greymouth Petroleum is accused by his fellow owners of multiple breaches of fiduciary duty, with potential for damages claims totalling $40 million. More >>
Fracking plans included in TAG Oil’s C$66mln expansion
Thursday, 8 March 2012, 12:10 pm | BusinessDesk
March 8 (BusinessDesk) – Controversial Canadian oil and gas explorer TAG Oil has announced a C$66 million investment in new drilling and production facilities in New Zealand, including reopening the search for so-called “tight” oil and gas ... More >>
UPDATED: RBNZ keeps OCR on hold, slows pace of future hikes
Thursday, 8 March 2012, 12:04 pm | BusinessDesk
March 8 (BusinessDesk) – Reserve Bank Governor Alan Bollard held the official cash rate at 2.5 percent today, and pushed out the track of future increases as the strong kiwi dollar keeps a lid on imported inflation pressure. More >>
MIDDAY UPDATE: Bollard holds OCR at 2.5% on kiwi strength
Thursday, 8 March 2012, 12:03 pm | BusinessDesk
March 8 (BusinessDesk) – Reserve Bank Governor Alan Bollard held the official cash rate at 2.5 percent saying a strong New Zealand dollar will ensure interest rates stay lower for longer by keeping imported inflation in check while eroding the value ... More >>
NZ dollar drops as Bollard says strong kiwi keeps rates low
Thursday, 8 March 2012, 9:40 am | BusinessDesk
March 8 (BusinessDesk) – The New Zealand dollar fell after Reserve Bank Governor Alan Bollard said the strength of the currency will keep interest rates lower for longer and weigh on economic growth. More >>
Bollard holds OCR at 2.5%; high kiwi to keep rates low
Thursday, 8 March 2012, 9:13 am | BusinessDesk
Bollard holds OCR at 2.5%, says kiwi high dollar will keep rates low, hurt exporters More >>
NZ dollar gains half a US cent on US data; RBNZ looms
Thursday, 8 March 2012, 8:33 am | BusinessDesk
March 8 (BusinessDesk) – The New Zealand dollar rose half a US cent as a report showed US companies added more workers last month and as traders await the Reserve Bank’s review of monetary policy. More >>
While you were sleeping: Optimism rebounds
Thursday, 8 March 2012, 7:39 am | BusinessDesk
March 8 (BusinessDesk) - Equities in Europe and on Wall Street advanced, rebounding from yesterday's drop, as a report showed American companies are hiring more staff than forecast, fuelling hopes for corporate profits. More >>
MARKET CLOSE: NZ shares rise, led by Heartland, retailers
Wednesday, 7 March 2012, 5:57 pm | BusinessDesk
March 7 (BusinessDesk) - New Zealand shares rose, led by Heartland New Zealand, after Pyne Gould increased its holding in the finance company. Pumpkin Patch paced gained in retailers on perceptions consumer spending has bottomed out and may improve. More >>
Solid Energy to resume operations at Spring Creek Mine
Wednesday, 7 March 2012, 5:25 pm | BusinessDesk
March 7 (BusinessDesk) - Solid Energy, the state-owned coal miner, has resumed mining operations at the Spring Creek Mine, which was briefly shuttered last month after a series of safety incidents. More >>
NZ dollar gains ahead of RBNZ review, rises vs. A$
Wednesday, 7 March 2012, 5:12 pm | BusinessDesk
March 7 (BusinessDesk) – The New Zealand dollar recovered some of its recent losses in the local trading session ahead of tomorrow’s Reserve Bank monetary policy statement, which will likely see the official cash rate held at 2.5 percent. More >>
Australia's economy grows 0.4% in 4Q, half expected pace
Wednesday, 7 March 2012, 4:12 pm | BusinessDesk
March 7 (BusinessDesk) - Australia's economy grew at half the pace expected in the fourth quarter, suggesting the headwinds of a high currency and weak consumer demand are offsetting the positive effects of the resources boom. More >>
Pyne Gould reduces Wrightson stake, buys more Heartland
Wednesday, 7 March 2012, 3:40 pm | BusinessDesk
March 7 (BusinessDesk) – Pyne Gould Corp, the company controlled by George Kerr and Baker Street Capital, has sold down its stake in rural supplies company PGG Wrightson, while lifting its holding in finance company Heartland New Zealand. More >>
Fragmented state sector a barrier to cost savings: Treasury
Wednesday, 7 March 2012, 3:23 pm | BusinessDesk
March 7 (BusinessDesk) – Fragmentation of New Zealand public services is the greatest hurdle for the state sector to achieve major back office savings, according to the Treasury. More >>
SFO seeks deeper ties with police, FMA
Wednesday, 7 March 2012, 2:57 pm | BusinessDesk
March 7 (BusinessDesk) – The Serious Fraud Office, responsible for complex fraud investigations and prosecutions, is seeking deeper ties with the police and the Financial Markets Authority in a bid to target white collar fraud more aggressively. More >>
