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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 1417]
AMP Capital NZ increases bets on global growth
Tuesday, 14 February 2012, 4:08 pm | BusinessDesk
Feb. 14 (BusinessDesk) – AMP Capital Investors (New Zealand), which manages $12 billion worth of assets, has increased bets on global growth, saying share valuations look attractive even in the face of Europe’s debt crisis. More >>
Mainfreight shares punished for rare earnings disappointment
Tuesday, 14 February 2012, 3:39 pm | BusinessDesk
Feb. 14 (BusinessDesk) – Mainfreight, whose chief executive Don Braid was named Management magazine Executive of the Year in 2011, saw it shares punished today after the transport group posted earnings that missed estimates. More >>
Fonterra’s outsourced milk processing stoush back in court
Tuesday, 14 February 2012, 2:58 pm | BusinessDesk
Feb. 14 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, is seeking to block buyers of its regulated raw milk supply from outsourcing the first stage of processing, the Supreme Court heard today. More >>
Kerr extends Pyne Gould offer again as holding reaches 65%
Tuesday, 14 February 2012, 2:02 pm | BusinessDesk
Feb. 14 (BusinessDesk) – George Kerr’s Australasian Equity Partners No. 1 LP has extended its takeover offer again, pushing the closing date out two weeks as his interest in the company tops 65 percent. More >>
Auckland still underpins national improvement in home prices
Tuesday, 14 February 2012, 2:02 pm | BusinessDesk
Feb. 14 (BusinessDesk) – Auckland’s property market continues to underpin a nationwide improvement in values, which are 2.7 percent ahead of the same time a year ago, according to government valuer Quotable Value. More >>
Opus lifts 1H profit, helped by tax gain
Tuesday, 14 February 2012, 1:33 pm | BusinessDesk
Feb. 14 (BusinessDesk) – Opus Group, the NZX-listed engineering consultancy, posted an 11.5 percent gain in first-half profit, though half of the improvement was from a one-off tax credit for short-lived research and development tax credits. More >>
MIDDAY UPDATE: Mainfreight shares drop 9% on weak Q3 result
Tuesday, 14 February 2012, 12:10 pm | BusinessDesk
Feb. 14 (BusinessDesk) – Weak trading conditions in New Zealand and crisis-hit Europe saw Mainfreight, the transport and logistics company, report a weaker-than-expected third quarter, with no growth in volumes and a December performance that lagged the ... More >>
NZ food prices unchanged in January; fruit, vegetables rise
Tuesday, 14 February 2012, 11:16 am | BusinessDesk
Feb. 14 (BusinessDesk) – An increase in the price of fruit and vegetables was the most significant element of the New Zealand food prices index that showed no overall change in January, after consecutive rises in November and December. More >>
Mainfreight volumes slow in 3Q, December trading lags
Tuesday, 14 February 2012, 10:10 am | BusinessDesk
Feb. 14 (BusinessDesk) – Mainfreight, the transport and logistics company, reported a weaker-than-expected third quarter, with no growth in volumes and a December performance that lagged the firm’s estimates. It still managed a record profit for the nine-month ... More >>
NZ dollar gains as Greek austerity stokes market optimism
Tuesday, 14 February 2012, 8:39 am | BusinessDesk
Feb. 14 (BusinessDesk) – The New Zealand dollar rose after the Greek Parliament approved a series of budget cuts, increasing investor optimism and boosting their demand for risk-sensitive assets. More >>
While you were sleeping: Greek hopes kept alive
Tuesday, 14 February 2012, 7:27 am | BusinessDesk
Feb. 14 (BusinessDesk) - Investors breathed a sigh of relief when Greek lawmakers approved austerity measures that might finally gain the credit-crunched country approval from officials at the European Union, International Monetary Fund and the European ... More >>
Bathurst hopes for September appeals hearing, shares fall
Monday, 13 February 2012, 6:11 pm | BusinessDesk
Feb. 13 (BusinessDesk) – West Coast coking coal miner Bathurst Resources expects it will be September at the earliest that the Environment Court will hear the appeal by environmental groups opposing resource consents granted for its Escarpment open ... More >>
MARKET CLOSE: NZ shares fall; Steel & Tube extends slide
Monday, 13 February 2012, 6:05 pm | BusinessDesk
Feb. 13 (BusinessDesk) – New Zealand shares fell, led by Steel & Tube Holdings, which posted a profit drop last week and is one of the first companies to report in earnings season. Freightways ended the day lower after posting earnings that met ... More >>
Govt’s answer to a smaller public service: Google it
Monday, 13 February 2012, 5:55 pm | BusinessDesk
Feb. 13 (BusinessDesk) – The government is talking seriously to the global search engine giant Google about providing software services to cut the cost and improve the efficiency of public services, Prime Minister John Key says. More >>
NZ dollar back up as Greece approves budget cuts
Monday, 13 February 2012, 5:05 pm | BusinessDesk
Feb. 13 (BusinessDesk) – The New Zealand dollar clawed back losses after Greece’s Parliament approved a series of budget cuts that will let the Mediterranean nation tap regional funding and stave off a default on debt repayments. More >>
SMELLIE ON SMES: Making improvements or managing out
Monday, 13 February 2012, 5:01 pm | BusinessDesk
Feb. 13 (BusinessDesk) - For every under-performing employee who fortuitously leaves there’s probably another 10 clinging to their jobs like limpets. More >>
40-year-old man charged in fatal Hubbard crash
Monday, 13 February 2012, 4:02 pm | BusinessDesk
Feb. 13 (BusinessDesk) – A 40-year-old man has been charged in relation to the car crash that killed Timaru businessman Allan Hubbard last year. More >>
Bollard may give upbeat assessment in Friday speech: BNZ
Monday, 13 February 2012, 3:47 pm | BusinessDesk
Feb. 13 (BusinessDesk) – Reserve Bank of New Zealand Governor Allan Bollard may give an upbeat view of the economy this week in a speech to a Trans-Tasman Business Circle luncheon titled, “Could We Be Better off than We Think?” More >>
Argosy sells Porirua, Palmerston North retail property
Monday, 13 February 2012, 3:11 pm | BusinessDesk
Feb. 13 (BusinessDesk) – Argosy Property Trust, which is asking unitholders to approve corporatising its capital structure, has sold four Porirua and one Palmerston North properties. More >>
Oil explorers fear EEZ Bill will derail drilling plans
Monday, 13 February 2012, 3:05 pm | BusinessDesk
Feb. 13 (BusinessDesk) – Oil explorers say the timing of the Exclusive Economic Zone bill currently going through Parliament carries a serious risk to their plans to sink new oil wells in 2012 and 2013, and they warn resource consent hearings will ... More >>
