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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 1432]
MARKET CLOSE: NZ shares gain, led by Pumpkin Patch
Thursday, 19 January 2012, 5:37 pm | BusinessDesk
Jan. 19 (BusinessDesk) – New Zealand shares extended their rally for a third day, led by children’s clothing chain Pumpkin Patch after the retailer said it will ditch its UK operation. More >>
NZ dollar drops on low inflation surprise
Thursday, 19 January 2012, 5:26 pm | BusinessDesk
Jan. 19 (BusinessDesk) – The New Zealand dollar immediately fell against the greenback and the Australian dollar as local consumer prices dropped unexpectedly for the final three months of last year and the Australian labour market recorded its worst performance ... More >>
New Meridian CEO cans Otago windfarm as first major act
Thursday, 19 January 2012, 4:30 pm | BusinessDesk
Jan. 19 (BusinessDesk) – The new chief executive of state-owned power company Meridian Energy has cut the knot on Project Hayes windfarm, ending almost six years of environmental hearings and court battles over the huge project in the Maniototo Plains of Central ... More >>
Insurers pass rising cost of reinsurance to consumers
Thursday, 19 January 2012, 4:26 pm | BusinessDesk
Jan. 19 (BusinessDesk) – Consumers are having to pay higher premiums on their contents and dwelling insurance after the Canterbury quakes forced fatter costs on local insurers. More >>
Fidelity Life credit rating affirmed on strong profit result
Thursday, 19 January 2012, 4:00 pm | BusinessDesk
Jan. 19 (BusinessDesk) – Fidelity Life Assurance has had it credit rating affirmed by AM Best on the back of strong capitlisation and improving profitability. More >>
HK authorities add third defendant to Crafar fraud case
Thursday, 19 January 2012, 2:23 pm | BusinessDesk
Jan. 19 (BusinessDesk) – Hong Kong authorities have charged a third person alleged to be an accomplice to fraud involving the spurned Natural Dairy NZ bid for the Crafar family’s dairy farms. More >>
Summer puts NZ consumers in a good mood
Thursday, 19 January 2012, 2:15 pm | BusinessDesk
Jan. 19 (BusinessDesk) – New Zealand consumers kicked off the year in a better mood, but still appear to be “listless and fickle”, according to ANZ New Zealand data. More >>
Refinery lops 25% off profit forecast, shares fall
Thursday, 19 January 2012, 2:02 pm | BusinessDesk
Jan. 19 (BusinessDesk) – The operating company for New Zealand’s only oil refinery suffered its lowest margins on oil processing in November and December since the first half of 2010, and has carved some 25 percent off the earnings outlook for the ... More >>
Default conservative funds costing KiwiSavers $72k each: ANZ
Thursday, 19 January 2012, 1:01 pm | BusinessDesk
Jan. 19 (BusinessDesk) – People who join conservatively managed KiwiSaver funds by default are missing out on as much as $72,000 each over their lifetimes and should be required to be higher-risk investors early in their lives, according to ANZ New ... More >>
MIDDAY UPDATE: NZ dollar down as inflation takes a tumble
Thursday, 19 January 2012, 12:24 pm | BusinessDesk
Jan. 19 (BusinessDesk) – New Zealand’s consumer prices fell unexpectedly in the final three months of last year, led by cheaper fresh produce and taming the pace of annual inflation to 1.8 percent for calendar 2012. The New Zealand dollar immediately ... More >>
COMMENT: OIO judicial review threat not a moment too soon
Thursday, 19 January 2012, 12:22 pm | BusinessDesk
Jan. 19 (BusinessDesk) – Today’s threat to seek a judicial review of the secretive process the Overseas Investment Office has used to assess the Shanghai Pengxin Corporation bid for the Crafar farms is not a moment too soon. More >>
Legal challenge looms if Chinese win Crafar farms
Thursday, 19 January 2012, 11:41 am | BusinessDesk
Jan. 19 (BusinessDesk) – The Overseas Investment Office faces an unprecedented public examination of its process for approving sales of New Zealand farmland to foreign investors if it approves the bid by China’s Shanghai Pengxin Corporation ... More >>
NZ job ads fall as Christchurch rebuild gets pushed out
Thursday, 19 January 2012, 11:34 am | BusinessDesk
Jan. 19 (BusinessDesk) – New Zealand job advertisements fell in December, with the Christchurch labour market slowed with more delay’s to the city’s reconstruction, according to the ANZ New Zealand job advertisements series. More >>
Kiwi drops as NZ annual inflation suddenly slows to 1.8%
Thursday, 19 January 2012, 10:54 am | BusinessDesk
Jan. 19 (BusinessDesk) – New Zealand’s consumer prices unexpectedly fell in the final three months of last year due to cheaper vegetables, taming the pace of annual inflation. More >>
Crappy summer boosts artificial tans at sunscreens’ expense
Thursday, 19 January 2012, 10:39 am | BusinessDesk
Jan. 18 (BusinessDesk) – Disappointed sunbathers are turning to tans from a bottle as bad summer weather hits sunscreen sales and pushes sales of artificial tanning preparations through the roof. More >>
Pumpkin Patch faces $32mln costs on failing UK retail unit
Thursday, 19 January 2012, 9:47 am | BusinessDesk
Jan. 19 (BusinessDesk) – Pumpkin Patch, the children’s clothing retailer, will quit its United Kingdom operation, appointing administrators to the unit and flagging restructuring costs as high as $32 million. More >>
NZ dollar extends gains vs. euro and greenback
Thursday, 19 January 2012, 8:52 am | BusinessDesk
Jan. 19 (BusinessDesk) – The New Zealand dollar crept higher against the euro and the greenback after the International Monetary Fund proposed to top up its lending capacity and positive US data continued, boosting demand for higher-yield currencies. More >>
While you were sleeping: Goldman Sachs, IMF surprise
Thursday, 19 January 2012, 7:09 am | BusinessDesk
Jan. 19 (BusinessDesk) - Stocks on Wall Street advanced after Goldman Sachs Group's earnings bettered expectations and the International Monetary Fund said it's considering shoring up its lending capacity to propel the global economy. More >>
FROM THE FARM: Talking Fonterra from the edge over trading
Wednesday, 18 January 2012, 6:43 pm | BusinessDesk
Here we go again. Fonterra’s initiative to let its farmer shareholders trade amongst themselves had the naysayers bellowing from the rooftops once again late last year. So the hosing down continues. More >>
Developing countries need to plan for slowdown: World Bank
Wednesday, 18 January 2012, 6:04 pm | BusinessDesk
Jan. 18 (BusinessDesk) – Developing countries should prepare for shocks to growth rates as large as occurred at the height of the global financial crisis, as the eurozone debt crisis remains unresolved and growth among the world’s largest economies diminishes, ... More >>
