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BusinessDesk - Latest News [Page 1416]

NZ dollar hits record vs. euro as EU delays Greek talks

Thursday, 16 February 2012, 8:37 am | BusinessDesk

Feb. 16 (BusinessDesk) – The New Zealand dollar hit a record high against the euro amid speculation European finance minister will delay a decision on Greece’s second bailout package until April. More >>

While you were sleeping: Next act of the Greek tragedy

Thursday, 16 February 2012, 7:42 am | BusinessDesk

Feb. 16 (BusinessDesk) - The plot thickened as China promised to pitch in on Europe's rescue fund amid speculation that European Union officials may postpone a decision on Greece's second bailout package until April. More >>

Exide to close NZ’s only battery recycling plant

Wednesday, 15 February 2012, 4:30 pm | BusinessDesk

Feb. 15 (BusinessDesk) - Exide Technologies, which operates the country’s only battery recycling plant, will close its Petone centre at the end of next March, shedding 40 local jobs at the plant. More >>

NZ LGFA's debut debt sale meets strong demand

Wednesday, 15 February 2012, 3:59 pm | BusinessDesk

Feb. 15 (BusinessDesk) - NZ Local Government Funding Agency’s debut sale of bonds was 4.4 times overbid, showing there’s strong investor demand, though the successful yield range was higher than expected. More >>

NZ online, mobile phone advertising spend on the rise

Wednesday, 15 February 2012, 3:01 pm | BusinessDesk

Feb. 15 (BusinessDesk) – New Zealand’s total online advertising spend had its largest year-on-year growth since 2008, while mobile internet ad spending was measured for the first time, in a report released by IAB New Zealand and PwC. More >>

High Court sends Crafar farms decision back to ministers

Wednesday, 15 February 2012, 2:52 pm | BusinessDesk

Feb. 15 (BusinessDesk) – The Crafar farms saga continues, with the High Court ordering permission given to Chinese investor Shanghai Pengxin to buy the farms be set aside and reconsidered because the Overseas Investment Office had “materially overstated” ... More >>

BREAKING: Court overturns Crafar farms sale decision

Wednesday, 15 February 2012, 1:56 pm | BusinessDesk

Feb. 15 (BusinessDesk) - The decision allowing sale of the Crafar dairy farms to Chinese investor Shanghai Pengxin has been set aside, with the High Court directing Ministers to reconsider the application. More >>

Westfield Retail Trust nets A$92M profit on NZ malls

Wednesday, 15 February 2012, 1:49 pm | BusinessDesk

Feb. 15 (BusinessDesk) – Westfield Retail Trust, which was spun off from global shopping mall owner Westfield Group to take half ownership of its Australasian malls, has netted a pre-adjusted profit of A$91.7 million from its New Zealand properties. More >>

ASB profit rises 23% despite static lending

Wednesday, 15 February 2012, 1:10 pm | BusinessDesk

Feb. 15 (BusinessDesk) –ASB Bank turned in a 23 percent improvement in cash net profit of $302 million in the six months to Dec. 31, compared with the same period a year earlier, the New Zealand bank’s Australian owner, Commonwealth Bank of Australia, ... More >>

Finance company rules stifle NZ capital markets

Wednesday, 15 February 2012, 1:03 pm | BusinessDesk

Feb. 15 (BusinessDesk) – The final legislative leg of regulations for finance companies, building societies and credit unions will stifle investment opportunities for retail investors and reduce the availability of credit for riskier ventures, according to ... More >>

Kirkcaldie mulls property development, awaits retail offer

Wednesday, 15 February 2012, 12:57 pm | BusinessDesk

Feb. 15 (BusinessDesk) – Kirkcaldie & Stains, Wellington’s upscale department store owner, is mulling further property development while awaiting an offer for its unprofitable retail business. More >>

Cavalier 1H profit plunges 59%, will miss full-year guidance

Wednesday, 15 February 2012, 12:39 pm | BusinessDesk

Feb. 15 (BusinessDesk) - Cavalier Corp, the carpet maker that is attempting to build a monopoly in wool scouring, said first-half profit tumbled 59 percent, meaning the company is unlikely to meet its full-year guidance. The shares dropped almost 9 percent ... More >>

MIDDAY UPDATE: NZ retail sales beat expectations

Wednesday, 15 February 2012, 12:10 pm | BusinessDesk

Feb. 15 (BusinessDesk) – Retail sales grew more than expected as New Zealander’s bought more at supermarkets and spent more on petrol in the final quarter of 2011. More >>

AMP NZ Office 1H profit falls 28%

Wednesday, 15 February 2012, 11:12 am | BusinessDesk

Feb. 15 (BusinessDesk) - AMP NZ Office said first-half net profit fell 28 percent to $20.4 million as rental income fell due to the sale of a building and the departure of major tenants. More >>

NZ retail sales grow more than expected on supermarket, fuel

Wednesday, 15 February 2012, 10:51 am | BusinessDesk

Feb. 15 (BusinessDesk) – New Zealand retail sales grew more than expected as people bought more at supermarkets and spent more on petrol in the final quarter of 2011. More >>

Pyne Gould appoints new directors as Kerr exerts control

Wednesday, 15 February 2012, 10:09 am | BusinessDesk

Feb. 15 (BusinessDesk) – Pyne Gould Corp, which has effectively been taken over by major shareholders George Kerr and Baker Street Capital, has appointed two new directors, Michael Tinkler and Russell Naylor to its board. More >>

SkyCity 1H profit jumps 17% to record $78.8M on Auckland

Wednesday, 15 February 2012, 9:49 am | BusinessDesk

Feb. 15 (BusinessDesk) – SkyCity Entertainment Group first-half profit jumped 17% to a record on improved earnings from its flagship Auckland casino and hotel complex, which benefitted from the Rugby World Cup and a turnaround in gaming revenue. More >>