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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 1443]
Russell Investments sees growth in Asia and US for 2012
Thursday, 22 December 2011, 2:42 pm | BusinessDesk
Dec. 22 (BusinessDesk) – Russell Investments, a global equities investor, says 2012 will continue to be driven by global deleveraging, while Asia and the US will drive modest levels of growth and recovery. More >>
Scales Corp emerges as potential block to T&G takeover
Thursday, 22 December 2011, 2:04 pm | BusinessDesk
Dec. 22 (BusinessDesk) – Scales Corp, the primary sector processing company sold by South Canterbury Finance’s receivers, has emerged with a potential blocking stake in Turners & Growers, which is under takeover offer from Germany’s BayWa ... More >>
NZ bans dodgy climate change units from ETS
Thursday, 22 December 2011, 1:40 pm | BusinessDesk
Dec. 22 (BusinessDesk) – The government is banning from tomorrow the use of carbon emissions reductions earned in Third World countries where subsidies to reduce emissions have prompted increased production of some of the most powerful greenhouse gases. More >>
IN DEPTH: NZ growth pick-up reflects “humungous” inventories
Thursday, 22 December 2011, 1:06 pm | BusinessDesk
Dec. 22 (BusinessDesk) – New Zealand’s economy expanded faster-than-expected in the third quarter though a record build-up in inventories suggests production has been running ahead of demand and could well reverse in coming quarters. More >>
Midday update: GDP up, but inventory build-up masks weakness
Thursday, 22 December 2011, 12:18 pm | BusinessDesk
Dec. 22 (BusinessDesk) – Economic growth was stronger in the three months to Sept. 30 than economists were predicting, but the apparently robust result is undermined by downward revisions to growth in earlier periods and a build-up of unsold inventories. ... More >>
Kathmandu 1H earnings to drop on weaker Christmas sales
Thursday, 22 December 2011, 11:52 am | BusinessDesk
Dec. 22 (BusinessDesk) – Kathmandu, the outdoor equipment and clothing retailer, said first half earnings will fall as Christmas sales fail to meet management expectations. More >>
Chorus issues 25 million pounds in bonds
Thursday, 22 December 2011, 11:23 am | BusinessDesk
Dec. 22 (BusinessDesk) – Chorus, New Zealand’s largest telecommunications network, has issued a further 25 million British pounds in corporate bonds. More >>
NZX winner & losers of 2011: big boys struggle, tiddlers up
Thursday, 22 December 2011, 10:44 am | BusinessDesk
Dec.22 (BusinessDesk) – Manufacturers, builders and retailers were among the biggest decliners on the New Zealand stock exchange in 2011, although the local market’s NZX 50 Index fared less poorly than many other global equity market benchmarks. More >>
Quakes cut swathe through Christchurch womens' jobs
Thursday, 22 December 2011, 10:38 am | BusinessDesk
Job losses in Canterbury bars, hotels, and shops have hit women and young people hard, with female employment in retail and accommodation dropping by 32.6 percent in the year to Sept. 30, according to an Employment Opportunities in Canterbury report, ... More >>
NZ dollar falls as ECB bank lending disappoints, GDP looms
Thursday, 22 December 2011, 9:02 am | BusinessDesk
Dec. 22 (BusinessDesk) – The New Zealand dollar fell ahead of the release of economic growth figures for the third quarter and amid concern European Central Bank lending support for the region’s banks won’t be enough to contain the debt-crisis. More >>
While you were sleeping: ECB boosts liquidity
Thursday, 22 December 2011, 7:33 am | BusinessDesk
Dec. 22 (BusinessDesk) - Initial euphoria about the European Central Bank's bigger-than-expected generosity towards the euro zone's banks quickly faded amid concern the cheap three-year loans won't fix the fiscal crisis. More >>
MARKET CLOSE: NZ shares join global rally; Methven rises
Wednesday, 21 December 2011, 5:47 pm | BusinessDesk
Dec. 21 (BusinessDesk) - New Zealand shares rose, joining a global rally on better US economic data and signs of progress with Europe's debt crisis. Beat-up stocks including tapware maker Methven and Fletcher Building paced the advance. More >>
NZ dollar hits 77 US cents; ECB lending and GDP loom
Wednesday, 21 December 2011, 5:20 pm | BusinessDesk
Dec. 21 (BusinessDesk) – The New Zealand dollar hit 77 US cents for the first time in a week as the European Central Bank prepares to lend its support to region’s banks and New Zealand’s final pre-Christmas data, Gross Domestic Product, is released ... More >>
SFO still seeking trading entity for failed forex trader
Wednesday, 21 December 2011, 3:28 pm | BusinessDesk
Dec. 19 (BusinessDesk) - Serious Fraud Office investigators have yet to determine what legal entity a Whangarei-based foreign exchange company was using to trade currencies. More >>
Insurance woes top Chch manufacturers’ Xmas concerns
Wednesday, 21 December 2011, 2:57 pm | BusinessDesk
Dec. 21 (BusinessDesk) – The New Zealand Manufacturers and Exporters Association says insurance worries top their concerns, with insurance companies happy to sell cover but slow to pay out following Christchurch’s earthquakes. More >>
SmartPay Names Gerdis CEO, Raises $1m
Wednesday, 21 December 2011, 2:20 pm | BusinessDesk
Dec. 21 (BusinessDesk) - SmartPay, which provides Eftpos terminals to retailers, said it appointed Bradley Gerdis as chief executive, raised $1 million and expects the end-year result to be similar to a year ago. More >>
NZX reviews benchmark weightings ahead of SOE floats
Wednesday, 21 December 2011, 1:11 pm | BusinessDesk
Dec. 21 (BusinessDesk) – Stock exchange operator NZX is seeking feedback on possible changes to its rules for the weightings companies are given in its benchmark stock indexes to ensure the sell-down and listing of state-owned enterprises doesn’t ... More >>
NZ short term travel increases after Rugby World Cup
Wednesday, 21 December 2011, 12:50 pm | BusinessDesk
Dec. 21 (BusinessDesk) – The number of kiwis who packed their bags and headed on overseas trips increased in November, while the number of people arriving to visit family and friends reached a record month high. More >>
Moody’s Analytics say World Cup hid a struggling economy
Wednesday, 21 December 2011, 12:42 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Economic research group Moody’s Analytics warns that New Zealand’s growth is likely to fade after the boost from the Rugby World Cup, as global financial pressure and industry weakness hit the country’s exports. More >>
Midday update: Balance of payments deficit widens
Wednesday, 21 December 2011, 12:10 pm | BusinessDesk
Dec. 21 (BusinessDesk) – New Zealand’s balance of payments deficit widened to 4.3 percent of Gross Domestic Product in the year to Sept. 30, somewhat larger than economists had been predicting, thanks to lower prices for key exports. Statistics ... More >>
