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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 1427]
RBNZ Governor Bollard reported to be stepping down in Sept
Friday, 27 January 2012, 4:40 pm | BusinessDesk
Jan. 27 (BusinessDesk) - Reserve Bank of New Zealand Governor Alan Bollard is reported to be planning to step down when his term ends in September, according to the National Business Review. More >>
Crafar farms buyer also seeking to buy development land
Friday, 27 January 2012, 4:08 pm | BusinessDesk
Jan. 27 (BusinessDesk) – Jiang Zhaobai, the Chinese businessman purchasing the Crafar farms, is also a shareholder in a company seeking to buy land for a development in New Zealand. More >>
NZ Post increases parcel rates, adds rural delivery charge
Friday, 27 January 2012, 3:52 pm | BusinessDesk
Jan. 27 (BusinessDesk) – New Zealand Post Group, the state-owned postal service, is increasing its postage rates for domestically self-wrapped parcels and introducing an additional charge for rural deliveries in March, to cover rising petrol costs ... More >>
UPDATED: Crafar farms base for growth by Chinese richlister
Friday, 27 January 2012, 3:35 pm | BusinessDesk
(Fixes reference to Jiang Zhaobai’s spot on the rich list in the first and last pars) More >>
Treasury picks three Mighty River Power IPO lead managers
Friday, 27 January 2012, 3:10 pm | BusinessDesk
Jan. 27 (BusinessDesk) – First New Zealand Capital working with Credit Suisse Australia, Macquarie Capital New Zealand and Goldman Sachs New Zealand have been anointed joint lead managers for the partial sale of Mighty River Power via an initial public share ... More >>
Bollard says rising interest rates, looming construction bui
Friday, 27 January 2012, 1:00 pm | BusinessDesk
Jan. 27 (BusinessDesk) – Reserve Bank Governor Alan Bollard says future monetary policy decisions will have to account for any increase in retail interest rates and the looming construction boom in Christchurch. More >>
Crafar farms a base for expansion by China’s wealthiest
Friday, 27 January 2012, 12:46 pm | BusinessDesk
Crafar farms a base for expansion by China’s wealthiest man Jan. 27 (BusinessDesk) – The purchase of 16 farms in New Zealand is a base for expansion in dairying by Zhaobai Jiang, the wealthiest person in China, according to the Overseas Investment ... More >>
MIDDAY UPDATE: Sale of Crafar farms approved
Friday, 27 January 2012, 11:56 am | BusinessDesk
Jan. 27 (BusinessDesk) – Milk New Zealand Holding, a wholly-owned subsidiary of Shanghai Pengxin Group. has been granted consent by government ministers to buy the 16 Crafar farms. More >>
Sale of Crafar farms to Pengxin is approved
Friday, 27 January 2012, 11:38 am | BusinessDesk
Jan. 27 (BusinessDesk) – The sale of 16 farms to China’s Shanghai Pengxin is has been approved by Associate Finance Minister Jonathan Coleman and Land Information Minister Maurice Williamson. More >>
NZ’s trade account turns to surplus in December
Friday, 27 January 2012, 11:12 am | BusinessDesk
Jan. 27 (BusinessDesk) - New Zealand reported a trade surplus in December as exports of milk powder, butter and cheese reached records. More >>
Iwi to get formal consultation on partial SOE sales in Feb
Friday, 27 January 2012, 11:03 am | BusinessDesk
Jan. 27 (BusinessDesk) – The New Zealand government will take part in a series of hui to consult with Maori on legislative changes it considers necessary in order to float the minority shareholdings of four State Owned Enterprises. More >>
NZ operating deficit wider than forecast in first 5 months
Friday, 27 January 2012, 10:52 am | BusinessDesk
Jan. 27 (BusinessDesk) – New Zealand’s operating deficit was wider than forecast in the first five months of the government’s fiscal year as personal income tax continued to come up short of the Treasury’s expectations. More >>
Huljich sold KiwiSaver business for $20.9 million
Friday, 27 January 2012, 10:06 am | BusinessDesk
Jan. 27 (BusinessDesk) - Huljich Wealth Management accounts reveal the KiwiSaver fund management company associated with politicians John Banks and Don Brash was sold to Fisher Funds for $20.9 million. More >>
NZ dollar hits 3-mth high as Bernanke sets inflation target
Friday, 27 January 2012, 9:07 am | BusinessDesk
Jan. 27 (BusinessDesk) – The New Zealand dollar touched a fresh a three-month high against the greenback after the Federal Reserve chairman Ben Bernanke announced an inflation target. More >>
Boards get 11 months to reissue public investment statements
Friday, 27 January 2012, 8:09 am | BusinessDesk
Jan. 27 (BusinessDesk) – The Financial Markets Authority is giving all issuers of investments to the public until Jan. 1 next year to get all their prospectuses and investment statements comply with the new financial markets conduct law. More >>
While you were sleeping: US housing hits speed bump
Friday, 27 January 2012, 7:21 am | BusinessDesk
Jan. 27 (BusinessDesk) - Disappointing data on American home sales spoiled the party on Wall Street after an earlier report of better-than-expected orders for durable manufactured goods. More >>
NZOG takes $21 million hit on PRC investment, shares fall
Thursday, 26 January 2012, 5:45 pm | BusinessDesk
Jan. 26 (BusinessDesk) – New Zealand Oil & Gas, the largest shareholder in Pike River Coal, will take a $21 million impairment charge on the rest of its investment in the mine. More >>
MARKET UPDATE: NZ shares mixed, holidays sap investor demand
Thursday, 26 January 2012, 5:35 pm | BusinessDesk
Jan. 26 (BusinessDesk) – New Zealand shares were mixed in today’s trading session as holidays in Australia and across Asia kept investors away from taking strong positions in the lead-up to the local earnings season. Rakon led the benchmark index higher. More >>
NZ dollar rallies on unchanged OCR; Fed to keep rates low
Thursday, 26 January 2012, 5:14 pm | BusinessDesk
Jan. 26 (BusinessDesk) – The New Zealand dollar climbed in local trading against the greenback after Reserve Bank Governor Alan Bollard steered clear of talking down the currency and held the official cash rate at its historically low 2.5 percent. More >>
Long-term plan seeks to put Rena disaster right
Thursday, 26 January 2012, 4:21 pm | BusinessDesk
Jan. 26 (BusinessDesk) – A long-term recovery plan the government is implementing to deal with the grounding of the containership Rena seeks to restore the Bay of Plenty environment to its pre-disaster state. More >>
