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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 1442]
World Week Ahead: Mild end to wild 2011?
Tuesday, 27 December 2011, 4:59 pm | BusinessDesk
World Week Ahead: Mild end to wild 2011? By Margreet Dietz Dec. 27 (BusinessDesk) - A year that few investors would care to describe as steady is set to end with the major stock indexes on both sides of the Atlantic just about where they started it. ... More >>
COMMENT: Good one, a Christmas earthquake
Friday, 23 December 2011, 6:26 pm | BusinessDesk
One thing New Zealand, let alone Canterbury, didn’t need right now was another big shake. More >>
Matarangi golf course goes to Auckland property developer
Friday, 23 December 2011, 4:59 pm | BusinessDesk
Dec. 23 (BusinessDesk) Allied Farmers’ Matarangi has sold its golf course and clubhouse along with five villas to Auckland property developer Peter Sundberg. More >>
Christchurch population faces decimation as quakes drag on
Friday, 23 December 2011, 4:55 pm | BusinessDesk
Dec. 23 (BusinessDesk) – Local bank economists have been told it may be four years before Christchurch stops shaking, and some fear as many as one in 10 residents will leave the region if major aftershocks like today’s continue in coming months. More >>
Ebos moves from humans to pets with NZ$105M Masterpet buy
Friday, 23 December 2011, 4:50 pm | BusinessDesk
Dec. 23 (BusinessDesk) – Ebos Group, a distributor of medical equipment and consumables, agreed to buy Masterpet Group for $105 million plus debt from interest associated with Brent Wootton, expanding into animal health- products and pet food. More >>
Seeka, after failed merger, omits dividend, focuses on debt
Friday, 23 December 2011, 4:45 pm | BusinessDesk
Dec. 23 (BusinessDesk) – Seeka Kiwifruit Industries, the grower which attempted to merge with rival Satara Cooperative this year, said it won’t pay a final dividend as it focuses on repaying debt. The listed fruit grower and packer expects full year ... More >>
MARKET CLOSE: NZ shares rise in shaky pre-Xmas trading
Friday, 23 December 2011, 4:27 pm | BusinessDesk
Dec. 23 (BusinessDesk) – New Zealand shares rose in sleepy pre-Christmas trading punctuated by two strong earthquakes in Christchurch. Kathmandu regained some ground after shedding a quarter of its value yesterday. Comvita fell after Cerebos’s takeover ... More >>
NZ dollar holds at 77 US cents after latest Chch quakes
Friday, 23 December 2011, 4:12 pm | BusinessDesk
Dec. 23 (BusinessDesk) – The New Zealand dollar held steady on 77 US cents following a 5.8 magnitude earthquake in Christchurch at 1.58pm this afternoon. More >>
MONEY TALKS: Hit the bach, grab a beer for a saver's Xmas
Friday, 23 December 2011, 1:24 pm | BusinessDesk
MONEY TALKS: Hit the bach, grab a beer – it’s a back-to-basics Christmas More >>
Podmore bankrupt as Perpetual calls in $20 mln guarantee
Friday, 23 December 2011, 12:54 pm | BusinessDesk
Dec. 23 (BusinessDesk) – Kevin Podmore has been forced into bankruptcy after Perpetual Trust, the trustee for 9,431 debenture holders owed $212 million plus interest from the failed St Laurence group, called in a $20 million personal guarantee. More >>
Contact considers offer to quit Queensland power station
Friday, 23 December 2011, 12:28 pm | BusinessDesk
Dec. 23 (BusinessDesk) – Contact Energy is being offered A$31 million to quit its quarter share in a peaking station in the remote Queensland settlement of Oakey, which it has owned since it opened in February 2000. More >>
Midday update: BayWa happy to see T&G remain NZX-listed
Friday, 23 December 2011, 12:23 pm | BusinessDesk
Dec. 23 (BusinessDesk) – The German bidder for NZX-listed fresh produce distributor Turners & Growers says it is happy not to take full control of T&G, following the appearance of Scales Corp on the target company’s register with a 10 percent ... More >>
BayWa willing to be major holder of listed Turners & Growers
Friday, 23 December 2011, 10:42 am | BusinessDesk
Dec. 23 (BusinessDesk) – Germany’s BayWa Aktiengesellschaft said it is willing to be the majority owner of fruit and vegetable marketing company Turners & Growers after a rival horticultural firm emerged with enough shares of the target company ... More >>
Clear Grain founders seek A$41M in counterclaim against NZX
Friday, 23 December 2011, 10:06 am | BusinessDesk
Dec. 23 (BusinessDesk) – The founders of NZX’s Clear Grain Exchange business in Australia have filed a counterclaim against the stock exchange operator amounting to A$41million. More >>
Cerebos offer for Comvita lapses after disagreement on price
Friday, 23 December 2011, 9:41 am | BusinessDesk
Dec. 23 (BusinessDesk) – Cerebos’s $71.6 million takeover offer for Manuka honey products maker Comvita has lapsed after the Singapore-based company balked at the target’s independent valuation. More >>
NZ dollar gains as upbeat US data stokes demand
Friday, 23 December 2011, 9:00 am | BusinessDesk
Dec. 23 (BusinessDesk) – The New Zealand dollar gained after better-than-expected US employment and consumer confidence figures stoked investor appetite for growth-linked currencies such as the kiwi. More >>
While you were sleeping: Labour, confidence boost
Friday, 23 December 2011, 7:38 am | BusinessDesk
Dec. 23 (BusinessDesk) - Equities advanced on both sides of the Atlantic as better-than-expected labour market data underpinned hopes that the pace of recovery in the world's largest economy is gaining traction. More >>
MARKET CLOSE: Kathmandu shares plunge 25% on profit warning
Thursday, 22 December 2011, 5:33 pm | BusinessDesk
Dec. 22 (BusinessDesk) – New Zealand shares fell, with volumes dwindling ahead of the Christmas break and generally weaker equity markets across Asia. Kathmandu lost a quarter of its value after becoming the latest retailer to flag tough trading ... More >>
NZ dollar little changed after mixed messages from GDP
Thursday, 22 December 2011, 5:18 pm | BusinessDesk
Dec. 22 (BusinessDesk) – The New Zealand dollar was little changed after government figures showed the economy grew more than expected in the third quarter while the expansion in previous quarters was wound back. More >>
Visitors keep Auckland Airport busy
Thursday, 22 December 2011, 4:23 pm | BusinessDesk
Dec. 22 (BusinessDesk) – More overseas visitors flooded through the gateways at Auckland International Airport but fewer of them appear to have Christchurch on their local itinerary, new data and surveys show. More >>
