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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 1421]
GPG sells Australian food assets to Mariner for A$3.2 mln
Wednesday, 8 February 2012, 3:11 pm | BusinessDesk
Feb. 8 (BusinessDesk) – Guinness Peat Group, the investment company in wind-down mode, agreed to sell its minority stakes in four food companies to ASX-listed Mariner Corporation for some A$3.2 million. More >>
Foodstuffs scotches talk of milk price war
Wednesday, 8 February 2012, 3:03 pm | BusinessDesk
Foodstuffs scotches talk of milk price war, labels Nosh $1-a-litre offer ‘a gimmick’ More >>
Govt lifts minimum wage 50 cts to $13.50 an hour
Wednesday, 8 February 2012, 1:58 pm | BusinessDesk
Feb. 8 (BusinessDesk) – The government will lift the minimum wage 50 cents to $13.50 an hour from the start of April. More >>
Harvard’s NZ dairy farms post profit after buying Big Sky
Wednesday, 8 February 2012, 1:36 pm | BusinessDesk
Feb. 8 (BusinessDesk) – DF1, the New Zealand dairy farmer owned by Harvard University’s endowment fund, posted a profit of $4.87 million last year, having bought the Big Sky Dairy Farm properties in central Otago from their receivers. More >>
Low company taxe no ‘silver bullet’ more foreign investment
Wednesday, 8 February 2012, 1:14 pm | BusinessDesk
Lower company tax rate no ‘silver bullet’ for more foreign investment, IRD says By Paul McBeth Feb. 8 (BusinessDesk) – Cutting the company tax rate isn’t a “silver bullet” that would stoke foreign investment in New Zealand, according to the Inland ... More >>
Richard Chandler backs Gunns in A$280M capital raising
Wednesday, 8 February 2012, 1:10 pm | BusinessDesk
Feb. 8 (BusinessDesk) – New Zealand-born billionaire Richard Chandler’s investment vehicle will take a cornerstone stake in Gunns as part of the ASX-listed forest plantation owner’s capital raising. More >>
MIDDAY UPDATE: Tower mulls capital return
Wednesday, 8 February 2012, 12:16 pm | BusinessDesk
Feb. 8 (BusinessDesk) – Tower, the insurer that raised $81.3 million in 2009 to pursue growth opportunities, says it will consider returning capital to shareholders after being outbid in acquisitions by rivals with deeper pockets. More >>
Tower mulls capital return after missing acquisitions
Wednesday, 8 February 2012, 12:04 pm | BusinessDesk
Feb. 8 (BusinessDesk) – Tower, the insurer that raised $81.3 million in 2009 to pursue growth opportunities, says it will consider returning capital to shareholders after being outbid in acquisitions by rivals with deeper pockets. More >>
DNZ sells in Wellington, buys in Auckland
Wednesday, 8 February 2012, 10:57 am | BusinessDesk
Feb. 8 (BusinessDesk) – DNZ Property Fund, whose shares are trading at a seven-month high, agreed to buy a Bunnings Warehouse property in Auckland’s Mt Roskill for $24.5 million, while selling an office tower in Wellington for $20.3 million. More >>
Ex-UBNZ dairy processor ‘disingenuous’ in bid to quash debt
Wednesday, 8 February 2012, 9:52 am | BusinessDesk
Ex-UBNZ dairy processor ‘entirely disingenuous’ in bid to throw out freight debt, judge says More >>
Hallenstein 1H earnings rise 25%, targets digital stores
Wednesday, 8 February 2012, 9:25 am | BusinessDesk
Feb. 8 (BusinessDesk) – Hallenstein Glasson said first-half earnings were about a quarter higher than last year and the clothing chain plans to put more emphasis on its digital store strategy. More >>
NZ dollar falls vs euro amid speculation of Greek deal
Wednesday, 8 February 2012, 9:01 am | BusinessDesk
Feb. 8 (BusinessDesk) – The New Zealand dollar dipped below 63 euro cents for the first time in more than a week amid speculation Greek officials and private creditors are preparing the final draft of a budget and structural measures needed to free ... More >>
While you were sleeping: Markets pause on Greece
Wednesday, 8 February 2012, 7:45 am | BusinessDesk
Feb. 8 (BusinessDesk) - Shares in Europe closed flat and US stocks were edging higher on hopes that Greek political leaders will agree on the terms needed to secure fresh bailout funds. More >>
BayWa extends T&G offer for another four weeks
Tuesday, 7 February 2012, 6:06 pm | BusinessDesk
Feb. 7 (BusinessDesk) – Germany’s BayWa Aktiengesellschaft has extended its takeover bid for fruit marketer Turners & Growers for another four weeks. More >>
MARKET CLOSE: NZ shares gain in busiest day this year
Tuesday, 7 February 2012, 6:02 pm | BusinessDesk
MARKET CLOSE: NZ shares gain in busiest day this year as earnings loom; FBU up More >>
NZ dollar falls vs. Australian dollar as RBA holds key rate
Tuesday, 7 February 2012, 5:27 pm | BusinessDesk
NZ dollar falls to week-low vs. Australian dollar after RBA keeps rate on hold More >>
UPDATED: RBA surprises by holding interest rates steady
Tuesday, 7 February 2012, 5:22 pm | BusinessDesk
Feb. 7 (BusinessDesk) - Contrary to widespread expectations of an interest rate cut, the Reserve Bank of Australia has held rates steady. More >>
RBA surprises by holding interest rates steady
Tuesday, 7 February 2012, 5:09 pm | BusinessDesk
Feb. 7 (BusinessDesk) - Contrary to widespread expectations of an interest rate cut, the Reserve Bank of Australia has held rates steady. More >>
'Green city' rules constrain Christchurch rebuild: investors
Tuesday, 7 February 2012, 5:06 pm | BusinessDesk
Feb. 7 (BusinessDesk) – Ideologically driven “green” restrictions on new commercial buildings are discouraging property investors from Christchurch rebuild projects, the Property Council of New Zealand says. More >>
Scour target profit sinks 41% on weak demand, strong kiwi
Tuesday, 7 February 2012, 4:14 pm | BusinessDesk
Feb. 7 (BusinessDesk) – NZ Wool Services International, whose wool scouring business is the target of Cavalier Wool Holdings, reported a 41 percent fall in first-half profit as the deterioration of the global economy and a strong New Zealand dollar ... More >>
