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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 1433]
Kerr’s AEP passes 50% in Pyne Gould bid
Wednesday, 18 January 2012, 5:53 pm | BusinessDesk
Jan. 18 (BusinessDesk) – George Kerr’s Australasian Equity Partners Fund No. 1 has passed the 50 percent target to seize control of Pyne Gould Corporation, but hasn’t made up its mind on whether to waive the full takeover target and declare ... More >>
MARKET CLOSE: NZ shares rise, Fletcher gains on house data
Wednesday, 18 January 2012, 5:46 pm | BusinessDesk
Jan. 18 (BusinessDesk) – New Zealand shares rallied for a second day as construction company Fletcher Building paced gainers amid more upbeat housing data for December. More >>
NZ dollar closing on 63 euro cents, but “pull-back” likely
Wednesday, 18 January 2012, 5:39 pm | BusinessDesk
Jan. 18 (BusinessDesk) – The New Zealand dollar continued to hit record highs against the euro in local trading as Greek Prime Minister Lucas Papademos prepares to resume talks with private bondholders to discuss forgiving up to half the nation’s debt. More >>
Todd-Methanex gas supply deal to inject $860 mln to economy
Wednesday, 18 January 2012, 4:02 pm | BusinessDesk
Jan. 18 (BusinessDesk) – A decade-long gas supply agreement between Todd Energy and methanol manufacturer Methanex New Zealand is set to inject $860 million into the national economy. More >>
Ports of Auckland and union look for ways around strike six
Wednesday, 18 January 2012, 2:51 pm | BusinessDesk
Jan. 18 (BusinessDesk) – Ports of Auckland management and Maritime Union officials are negotiating the terms of a stop-work meeting in a bid to head off the sixth strike at the transport hub. More >>
Insurers set to cover 80% of Chch quake costs: Swiss Re
Wednesday, 18 January 2012, 1:30 pm | BusinessDesk
Jan. 18 (BusinessDesk) – Insurers look likely to foot 80 percent of the $20 billion price tag put on the Christchurch earthquakes, according to industry research. More >>
Kiwibank sixth biggest in KiwiSaver with Gareth Morgan buy
Wednesday, 18 January 2012, 12:37 pm | BusinessDesk
Jan. 18 (BusinessDesk) – State-owned New Zealand Post subsidiary Kiwibank will buy KiwiSaver funds manager Gareth Morgan Investments to act as the cornerstone of its wealth management unit. More >>
Kiwibank sixth biggest in KiwiSaver with Gareth Morgan buy
Wednesday, 18 January 2012, 12:37 pm | BusinessDesk
Jan. 18 (BusinessDesk) – State-owned New Zealand Post subsidiary Kiwibank will buy KiwiSaver funds manager Gareth Morgan Investments to act as the cornerstone of its wealth management unit. More >>
Kiwibank sixth biggest in KiwiSaver with Gareth Morgan buy
Wednesday, 18 January 2012, 12:28 pm | BusinessDesk
Jan. 18 (BusinessDesk) – State-owned New Zealand Post subsidiary Kiwibank will buy KiwiSaver funds manager Gareth Morgan Investments to act as the cornerstone of its wealth management unit. More >>
h3>MIDDAY UPDATE: Gareth Morgan sells fund to KiwiBank
Wednesday, 18 January 2012, 12:17 pm | BusinessDesk
Jan. 18 (BusinessDesk) – State-owned lender Kiwibank has bought Gareth Morgan Investments to act as the cornerstone of its wealth management unit. The bank will pay an undisclosed amount for the wealth manager, which has $1.5 billion under management and more than ... More >>
SNAP: Kiwibank buys Gareth Morgan Investments
Wednesday, 18 January 2012, 11:08 am | BusinessDesk
Jan. 18 (BusinessDesk) – State-owned lender Kiwibank has extended its mark in the funds management business with the acquisition of high profile KiwiSaver funds manager, Gareth Morgan Investments. More >>
NZ house sales rise 20% in December, still at subdued levels
Wednesday, 18 January 2012, 10:45 am | BusinessDesk
Jan. 18 (BusinessDesk) – New Zealand home sales climbed 20 percent in the best December result since 2007, though sales are still at relatively subdued levels. More >>
Fonterra dairy prices gain for first time in two auctions
Wednesday, 18 January 2012, 9:26 am | BusinessDesk
Jan. 18 (BusinessDesk) – Prices of dairy products sold on Fonterra Cooperative Group’s GlobalDairyTrade platform rose, clawing back most of the losses from the previous two auctions. More >>
NZ dollar holds vs. euro and greenback as Europe
Wednesday, 18 January 2012, 9:16 am | BusinessDesk
Jan. 18 (BusinessDesk) – The New Zealand dollar held its near-record highs against the euro and two month gains against the greenback after a record jump in German investor confidence and demand for European bond sales continued. More >>
Investors see potential for further Fletcher downgrade
Wednesday, 18 January 2012, 8:54 am | BusinessDesk
Jan. 16 (BusinessDesk) – Fletcher Building, New Zealand’s largest construction company, faces market speculation of a further profit downgrade, amid a weak housing market and new delays in the rebuild of Christchurch following a swam of earthquakes ... More >>
While you were sleeping: Hopes on Chinese engine
Wednesday, 18 January 2012, 7:25 am | BusinessDesk
Jan. 18 (BusinessDesk) - Stocks in Europe and on Wall Street advanced amid expectations that Chinese policy makers will aim to accelerate growth in the world's second-largest economy. More >>
MARKET CLOSE: NZ shares track Asian markets' rise
Tuesday, 17 January 2012, 5:54 pm | BusinessDesk
Jan. 17 (BusinessDesk) – New Zealand shares bounced from a four-week low as investors shrugged off the negative headlines in Europe, where the region’s bail-out fund was downgraded, and embraced better than expected economic growth in China. Dual-listed ... More >>
South Island hiring intentions at eight year high
Tuesday, 17 January 2012, 5:46 pm | BusinessDesk
Jan 17 (BusinessDesk) - An eight-year hiring intentions high in the South Island is more than double the national average, according to the Hudson Report Employment and HR Trends, who say 40.1 percent of employers in the region intend to bolster ... More >>
Harbour Asset lobs bomb at fund managers’ performance fees
Tuesday, 17 January 2012, 5:25 pm | BusinessDesk
Jan. 17 (BusinessDesk) – Harbour Asset Management has thrown a grenade into the murky world of managed funds’ performance fee structures, saying New Zealand funds managers seriously lag behind best practice and need to lift their game. More >>
NZ dollar rises on better-than-expected Chinese data
Tuesday, 17 January 2012, 5:20 pm | BusinessDesk
Jan. 17 (BusinessDesk) – The New Zealand dollar gained against the greenback after China’s economic growth exceeded analysts’ expectations, stoking demand for higher-yielding currencies, while weak New Zealand business confidence matched market expectations. More >>
