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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 1435]
MARKET CLOSE: NZ shares gain as Europe angst abates
Friday, 13 January 2012, 5:53 pm | BusinessDesk
Jan. 13 (BusinessDesk) – New Zealand shares rose on a backdrop of broadly stronger global equity markets. Fletcher Building and carpet maker Cavalier paced the advance. More >>
ANZ scotches talk of company-wide redundancies in 2012
Friday, 13 January 2012, 5:21 pm | BusinessDesk
Jan. 13 (BusinessDesk) – ANZ National Bank, the nation’s biggest lender, has scotched speculation New Zealand jobs could be axed amid reports its Australian parent will cull 700 jobs in the first half of 2012. More >>
NZ dollar extends decline against greenback, euro
Friday, 13 January 2012, 5:03 pm | BusinessDesk
Jan. 13 (BusinessDesk) – The New Zealand extended losses through local trading after weaker retail sales in the US and strong demand for Spanish and Italian government bond auctions sapped demand for so-called risk-sensitive assets. More >>
Direct Capital buys stake in family-owned Hiway Group
Friday, 13 January 2012, 4:58 pm | BusinessDesk
Jan. 13 (BusinessDesk) – Private equity firm Direct Capital has bought a stake in Hiway Group, a roading and ground stabilisation company, as part of the handover from owner Peter Boocock to his sons. More >>
Ports of Auckland wanted out of labour contract, paper shows
Friday, 13 January 2012, 4:22 pm | BusinessDesk
Jan. 13 (BusinessDesk) - Ports of Auckland was planning to jettison its collective labour contracts long before they expired on Sept. 30 last year, according to port documents released by the Maritime Union. More >>
MONEY TALKS: Property market distortions
Friday, 13 January 2012, 1:36 pm | BusinessDesk
Government property valuer Quotable Value is forecasting a mixed picture for 2012. Auckland house prices will continue to march higher because of a lack of new listings coupled with rising demand. More >>
MIDDAY UPDATE: Relief in sight for OJ buyers; kiwi falls
Friday, 13 January 2012, 12:08 pm | BusinessDesk
Jan. 13 (BusinessDesk) –New Zealand importers of orange juice concentrate may get some relief from prices near 20-year highs after the US threatened a ban on products from Brazil, one of biggest suppliers to the kiwi market. More >>
Job ads growth slowed in fourth quarter: Trade Me
Friday, 13 January 2012, 11:27 am | BusinessDesk
Jan. 13 (BusinessDesk) – Job advertisements on the Trade Me website rose 21 percent in the fourth quarter, slowing from a pace of 30 percent three months earlier and signalling some steam is coming out of labour market. More >>
NZTA won’t reprise ‘ghost chip’ campaign that went viral
Friday, 13 January 2012, 10:42 am | BusinessDesk
Jan. 13 (BusinessDesk) – The New Zealand Transport Agency, which scored its biggest online hit with a drink driving campaign that coined the phrase ‘ghost chips’, doesn’t plan to reprise a story line that has its own Facebook fan pages and went ... More >>
Kerr may scoop bargain with control of PGC’s assets
Friday, 13 January 2012, 10:16 am | BusinessDesk
Jan. 13 (BusinessDesk) - George Kerr’s Australasian Equity Partners Fund may gain control of Pyne Gould at a bargain price as small shareholders grapple with valuing the grab-bag of assets left over when the company tipped its Marac Finance unit into ... More >>
US threat of ban on Brazilian OJ may ease kiwi price squeeze
Friday, 13 January 2012, 9:38 am | BusinessDesk
US threat of ban on Brazilian orange juice may ease price squeeze for kiwi buyers More >>
Fletcher taps US investors in US$300M private placement
Friday, 13 January 2012, 9:32 am | BusinessDesk
Jan. 13 (BusinessDesk) – Fletcher Building, the country’s biggest listed company, has tapped private US investors in a US$300 million debt placement to repay bank loans. More >>
NZ dollar falls against greenback, euro
Friday, 13 January 2012, 8:37 am | BusinessDesk
Jan. 13 (BusinessDesk) – The New Zealand dollar fell against the euro and the greenback following better-than-expected demand for Spanish and Italian government debt and disappointing US retail sales figures. More >>
While you were sleeping: US data disappoint
Friday, 13 January 2012, 7:48 am | BusinessDesk
Jan. 13 (BusinessDesk) - The tables were turned today as disappointing economic data from the US overshadowed better-than-expected demand for bonds sold by struggling euro-zone nations Spain and Italy. More >>
QBE says catastrophes may halve its 2011 net profit
Thursday, 12 January 2012, 6:12 pm | BusinessDesk
Jan. 12 (BusinessDesk) - Australian-listed insurance company QBE said record claims resulting from catastrophes including hurricanes, tornadoes, fires, floods and riots mean its 2011 net profit will be down by between 40 percent and 50 percent on the ... More >>
MARKET CLOSE: NZ shares fall as Fletcher sinks; PGW drops
Thursday, 12 January 2012, 6:07 pm | BusinessDesk
Jan. 12 (BusinessDesk) – New Zealand shares fell amid speculation Fletcher Building’s earnings will be at the low end of estimates amid a weak housing market and delays in the rebuild of Christchurch. PGG Wrightson led decliners as commodity prices fell. More >>
NZ dollar touches fresh highs ahead of ECB meeting
Thursday, 12 January 2012, 5:31 pm | BusinessDesk
Jan. 12 (BusinessDesk) – The New Zealand hit new highs against the euro in local trading ahead of the first European Central Bank meeting of the year and against the backdrop of looming Italian and Spanish government bond auctions. More >>
NZ’s Aaa rating underpinned by economic strength: Moody's
Thursday, 12 January 2012, 3:55 pm | BusinessDesk
NZ’s triple-A rating with Moody’s underpinned by economic strength, low vulnerability to risk More >>
Genesis Research plans ‘reverse takeover’ with Mariposa
Thursday, 12 January 2012, 3:53 pm | BusinessDesk
Jan. 12 (BusinessDesk) - Genesis Research and Development plans to merge with Mariposa Health, an unlisted Australia medical researcher that would own 80 percent of the enlarged company and provide development projects for treatment of lung disease and ... More >>
Landcorp denies report of rental for Crafar Farms
Thursday, 12 January 2012, 2:17 pm | BusinessDesk
Landcorp in talks to run Crafar Farms for Pengxin, denies report it would pay $18M rent More >>
