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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 1444]
Sealord profits up following good deep-sea catchment
Wednesday, 21 December 2011, 11:45 am | BusinessDesk
Dec. 21 (BusinessDesk)- Sealord, New Zealand’s second largest seafood company, has attributed a $20.6 million profit increase over 15 months to a good performance from the company’s deep water fishing unit. More >>
NZ current-account gap widens in 3Q as commodity prices ease
Wednesday, 21 December 2011, 11:44 am | BusinessDesk
Dec. 21 (BusinessDesk) – New Zealand’s current account deficit widened more than expected in the third quarter on weaker prices for export commodities and fatter profit from the nation’s Australian owned banks. More >>
UPDATED: NZ dollar jumps more than 1 ct on Spanish bond sale
Wednesday, 21 December 2011, 9:26 am | BusinessDesk
UPDATED: NZ dollar jumps more than 1 US cent on Spanish bond sale, ECB lending More >>
BusinessNZ goes Grinch with advice on who to fire right now
Wednesday, 21 December 2011, 9:18 am | BusinessDesk
Dec. 20 (BusinessDesk) – Employers’ and manufacturers’ lobby group Business New Zealand has injected a little spirit of the Grinch into the Christmas edition of its ManufacturingNZ newsletter, which highlights “three types of people to fire ... More >>
NZ dollar jumps more than 1 US ct after Spanish bond sale
Wednesday, 21 December 2011, 9:04 am | BusinessDesk
Dec. 21 (BusinessDesk) – The New Zealand dollar gained more than 1 US cent after a successful Spanish bond sales and after the European Central Bank offered more support for the region’s lenders, easing concern Europe’s debt crisis is worsening. More >>
Energy Mad secures $2 mln banking facility with HSBC
Wednesday, 21 December 2011, 8:49 am | BusinessDesk
Dec. 21 (BusinessDesk) - Energy Mad, the energy-efficient light bulb company that raised $5 million in an initial pubic offering in October, has secured a $2 million banking facility with Hongkong and Shanghai Banking Corp, giving it access to funds ... More >>
While you were sleeping: US housing, Spanish auction
Wednesday, 21 December 2011, 7:32 am | BusinessDesk
Dec. 21 (BusinessDesk) - Stocks in Europe and on Wall Street rallied, along with the euro, on signs of better-than-expected confidence in Germany and strength in the world's largest economy. More >>
MARKET CLOSE: NZ shares fall: Methven leads selloff
Tuesday, 20 December 2011, 5:59 pm | BusinessDesk
Dec. 20 (BusinessDesk) - New Zealand shares fell, pushing the NZX 50 Index to the lowest since early August, in a broad-based selloff led by tapware maker Methven and Fisher & Paykel Healthcare. More >>
NZ dollar holds steady on 75 US cents post RBA minutes
Tuesday, 20 December 2011, 5:50 pm | BusinessDesk
Dec. 20 (BusinessDesk) – The New Zealand dollar was little-changed following the release of the Reserve Bank of Australia minutes, as it remains unclear how Europe’s debt crisis will be resolved and financial markets square away for the Christmas ... More >>
NZ's finance company bail-out fund to end
Tuesday, 20 December 2011, 5:49 pm | BusinessDesk
Dec. 20 (BusinessDesk) – The government will finally be quit of its liabilities to the weakest parts of the finance sector with the closure of the extended retail deposit guarantee scheme on Dec. 31, confirmed today by the Treasury. More >>
Contact Energy confirms coupon of 8% on $200M of 2042 bonds
Tuesday, 20 December 2011, 4:27 pm | BusinessDesk
Dec. 20 (BusinessDesk) – Contact Energy sold $200 million of long-life bonds with a coupon of 8 percent, the minimum level of interest it flagged last month. More >>
Worries about the European crisis led RBA to cut rates
Tuesday, 20 December 2011, 4:06 pm | BusinessDesk
Dec. 20 (BusinessDesk) - Concern about the impact the European debt crisis could have on the Australian economy caused the Reserve Bank of Australia (RBA) to cut interest rates earlier this month. More >>
Abano first-half profit falls on expansion costs; sales rise
Tuesday, 20 December 2011, 3:57 pm | BusinessDesk
Dec. 20 (BusinessDesk) – Abano Healthcare, which invests in specialist health clinics, confirmed its weaker-than-expected first half-profit, down $1.5 million from $2.8 million, even as sales lifted 18 percent, after it acquired dental practices in New ... More >>
Oil companies reassure East Coast communities on 'fracking'
Tuesday, 20 December 2011, 2:35 pm | BusinessDesk
Dec. 20 (BusinessDesk) – Canadian oil company Apache has been talking up the prospects for onshore oil finds on the East Coast of the North Island in a series of meetings where executives have also discussed how they would ensure hydraulic fracturing doesn’t ... More >>
Insurance Australia seeks antitrust clearance to buy AMI
Tuesday, 20 December 2011, 1:42 pm | BusinessDesk
Dec. 20 (BusinessDesk) –Insurance Australia Group has sought Commerce Commission approval for its $380 million acquisition of AMI insurance. More >>
Dorchester Pacific to exit life insurance
Tuesday, 20 December 2011, 1:08 pm | BusinessDesk
Dec. 20 (BusinessDesk) - Dorchester Pacific, which avoided failure last year by convincing investors to accept a debt-for-equity swap, will exit the life insurance business and concentrate on writing non-life policies after a review its savings and insurance ... More >>
Midday update: Huljich copes $112k fine for Kiwisaver top-up
Tuesday, 20 December 2011, 12:21 pm | BusinessDesk
Dec. 20 (BusinessDesk) – Failing to tell investors in his Kiwisaver scheme that he had used personal funds to top up funds that were not performing as well as hoped has cost Auckland businessman Peter Huljich $112,632 in fines. Fairfax Media reports ... More >>
NZ dollar little changed after Draghi comments, Kim's death
Tuesday, 20 December 2011, 9:03 am | BusinessDesk
Dec. 20 (BusinessDesk) – The New Zealand dollar was little changed after European Central Bank President Mario Draghi ruled out more spending on the region’s debt and the death of North Korean dictator Kim Jong II sparked concern over security ... More >>
While you were sleeping: EU woes linger over markets
Tuesday, 20 December 2011, 7:26 am | BusinessDesk
Dec. 20 (BusinessDesk) - Amid a dearth of news, lingering worries over the fate of the euro and the European Union's member states continue to drag on the single currency and equities in Europe and on Wall Street. More >>
MARKET CLOSE: NZ shares fall on Australian weakness
Monday, 19 December 2011, 5:38 pm | BusinessDesk
Dec. 19 (BusinessDesk) – New Zealand shares fell, led by companies with ties to the Australian economy after a profit warning by a retailer across the Tasman stoked concerns that growth in the nation’s biggest export market is faltering. Fletcher ... More >>
