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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 1423]
NZ seeks more Chinese investment and doubling of trade
Friday, 3 February 2012, 1:10 pm | BusinessDesk
Feb. 3 (BusinessDesk) – Chinese investment in New Zealand is tiny compared to Australia and needs to grow “to levels that reflect the growing commercial relationship with China,” the government says in its NZ Inc strategy for engagement with the world’s ... More >>
NZ rivals put case seeking overturn of Crafar farm sale
Friday, 3 February 2012, 12:43 pm | BusinessDesk
Feb. 3 (BusinessDesk) –A lawyer representing a group of New Zealand farmers wanting to oust a Chinese buyer of the so-called Crafar farms argued the Chinese investor is just “putting money up” and intends to be only a passive investor. More >>
Barfoot Auckland property sales lift in January
Friday, 3 February 2012, 12:23 pm | BusinessDesk
Feb. 2 (BusinessDesk) – Auckland’s January residential house sales were the strongest they’ve been in four years, according to Barfoot & Thompson. More >>
MIDDAY UPDATE: More kiwis leave for Australia
Friday, 3 February 2012, 12:20 pm | BusinessDesk
Feb. 3 (BusinessDesk) – The loss of New Zealanders to Australia continued in 2011, with the biggest-ever net outflow across the Tasman by kiwis in search of better pay and more jobs. More >>
Construction to be foundation of NZ economic rebound: BNZ
Friday, 3 February 2012, 11:43 am | BusinessDesk
Feb. 2. (BusinessDesk) – The construction sector is likely to be the foundation of healthy growth in the New Zealand economy over the next two years, with rebuilding after Christchurch’s earthquakes only part of the lift. More >>
NZ had record net loss of migrants to Australia in 2011
Friday, 3 February 2012, 11:29 am | BusinessDesk
NZ had record net loss of migrants to Australia in 2011, total loss at 11-year high More >>
NZX share, debt trading jumps in January
Friday, 3 February 2012, 10:43 am | BusinessDesk
Feb. 3 (BusinessDesk) – The volume of trading in shares and bonds on the NZX jumped last month in a sign the local exchange may be heading for a stronger year in 2012 as the local economy picks up pace. More >>
PMP writes down value of NZ magazine distributor
Friday, 3 February 2012, 9:40 am | BusinessDesk
Feb. 3 (BusinessDesk) – Printer PMP Ltd has written down the value of Gordon and Gotch, New Zealand’s largest magazine distributor and says its New Zealand printing business is encountering difficult market conditions. More >>
Dairy Holdings shareholders led by Armer, Pye take control
Friday, 3 February 2012, 9:11 am | BusinessDesk
Feb. 3 (BusinessDesk) – Shareholders of Dairy Holdings Ltd, which owns 58 dairy farms in the South Island, have bought shares owned by the collapsed South Canterbury Finance (SCF) and others. More >>
NZ dollar holds near 5-mth high amid rising commodity prices
Friday, 3 February 2012, 8:59 am | BusinessDesk
Feb. 3 (BusinessDesk) – The New Zealand dollar held near a five-month high as rising commodity prices stoked optimism global growth will revive enough to underpin demand for the nation’s agricultural exports. More >>
Warehouse cuts FY guidance, blames margin pressures
Friday, 3 February 2012, 8:58 am | BusinessDesk
Feb. 3 (BusinessDesk) – Warehouse Group, the country’s biggest listed retailer, cut its guidance on adjusted profit for the current financial year, blaming a squeeze on margins in recent months. More >>
While you were sleeping: Resting on January laurels
Friday, 3 February 2012, 7:33 am | BusinessDesk
Feb. 3 (BusinessDesk) - It's been a great start to the year and investors found little reason to change much today, ahead of January's US jobs report due tomorrow. More >>
Test for Lombard bad loans not ‘some nebulous vibe’: lawyer
Thursday, 2 February 2012, 6:35 pm | BusinessDesk
Feb. 2 (BusinessDesk) – The Crown was too vague in its claim the value of Lombard Finance & Investment’s loan book should have been written down because testing for impaired advances shouldn’t be “some nebulous vibe”, according to the defence. More >>
Argosy plans to corporatise after paying out OnePath
Thursday, 2 February 2012, 6:22 pm | BusinessDesk
Feb. 2 (BusinessDesk) – Argosy Property Trust wants to corporatise its structure, having paid out its external manager last year and brought that function in-house. More >>
MARKET CLOSE: NZ shares rise as global outlook warms
Thursday, 2 February 2012, 5:51 pm | BusinessDesk
Feb. 2 (BusinessDesk) – New Zealand shares rose, joining a global advance in equity markets on optimism world growth is reviving. Exporting manufacturers Fisher & Paykel Appliances and Methven led gainers even as the kiwi dollar climbed. More >>
Solid Energy buys back 49% stake in Spring Creek coal mine
Thursday, 2 February 2012, 5:33 pm | BusinessDesk
Feb. 2 (BusinessDesk) - Government-owned coal miner Solid Energy said it has bought back the 49 percent of Spring Creek Mining Company it sold to US multinational Cargill in March 2007 for an undisclosed price. More >>
NZ dollar hits 5-mth high on signs global economy reviving
Thursday, 2 February 2012, 5:27 pm | BusinessDesk
Feb. 2 (BusinessDesk) – The New Zealand dollar rose to a new five-month high on optimism the global economy is reviving, giving investors more appetite for growth linked assets such as the kiwi. More >>
UPDATED: Landcorp triples first-half operating earnings
Thursday, 2 February 2012, 5:11 pm | BusinessDesk
Feb. 2 (BusinessDesk) – Landcorp, the state-owned farm vying for management fees over the Crafar farms, tripled its first-year operating profit on strong growth in revenue, particularly from livestock. More >>
Landcorp triples 1H operating earnings on livestock sales
Thursday, 2 February 2012, 4:03 pm | BusinessDesk
Feb. 2 (BusinessDesk) – Landcorp, the state-owned farm vying for management fees over the Crafar farms, tripled its first-year operating profit on strong growth in revenue, particularly from livestock. More >>
SOE director fees under review this year, COMU says
Thursday, 2 February 2012, 2:27 pm | BusinessDesk
Feb. 2 (BusinessDesk) – The fees paid to directors of State-Owned Enterprises are under review this year with any changes likely to kick in from July, according to the Crown Ownership Monitoring Unit. More >>
