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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 1447]
NZers get Asia-Pacific’s most-generous holidays:Mercer
Thursday, 15 December 2011, 2:08 pm | BusinessDesk
Dec. 15 (BusinessDesk) – New Zealanders have some of the most generous holiday entitlements in the Asia Pacific region and rank eighth worldwide for the amount of leave they’re entitled to, according human resources consultants Mercer. More >>
Mark Hotchin’s day in court looms next year
Thursday, 15 December 2011, 12:49 pm | BusinessDesk
Dec. 15 (BusinessDesk) – The securities market watchdog, the Financial Market Authority, will file civil proceedings against directors and promoters of failed finance company, Hanover, next year. More >>
Govt expects $100 mln in fees for asset sale programm
Thursday, 15 December 2011, 11:58 am | BusinessDesk
Dec. 15 (BusinessDesk) – The government will probably stump up around $100 million in fees to investment banks preparing the partial sell-down of state-owned energy companies, according to State-Owned Enterprises Minister Tony Ryall. More >>
Midday update: MightyRiverPower first up for partial sale
Thursday, 15 December 2011, 11:51 am | BusinessDesk
Dec. 15 (BusinessDesk) – State-owned electricity company MightyRiverPower will be first out of the blocks in the government’s ambitious plans to sell minority stakes in five SOEs over the next three years. MRP, which operates as Mercury Energy ... More >>
“Worrisome” 2 ½ year low for manufacturing activity
Thursday, 15 December 2011, 11:19 am | BusinessDesk
Dec. 15 (BusinessDesk) – New Zealand’s manufacturing sector contracted for a second month in November, with activity at the lowest level since June 2009 reflecting a decline in production and new orders. More >>
Kiwi households save money for the first time in 11 years
Thursday, 15 December 2011, 11:11 am | BusinessDesk
Dec. 15 (BusinessDesk) – The wallet-freezing effects of the global financial crisis, finance company collapses and prolonged local recession have had one good outcome, with New Zealand households saving $200 million more than they earned in the year ... More >>
NZ bio sector grows 20% in two years, patent growth strong
Thursday, 15 December 2011, 10:52 am | BusinessDesk
Dec. 14 (BusinessDesk) – New Zealand’s bioscience sector has grown more than 20 percent in two years, putting the country ahead of the OECD average when it comes to focusing on bio-economy opportunities, says a report from NZBio, the bio-sciences ... More >>
Energy Mad gets $220,000 of government funding for downlight
Thursday, 15 December 2011, 9:25 am | BusinessDesk
Dec. 15 (BusinessDesk) - Energy Mad, the energy-efficient light bulb company that raised $5 million in an initial pubic offering in October, has been given $220,000 in government funding to develop a new downlight. More >>
Arla Foods signs up to use Fonterra’s GlobalDairyTrade
Thursday, 15 December 2011, 9:19 am | BusinessDesk
Dec. 15 (BusinessDesk) – Arla Foods, the European dairy cooperative, will start selling skim milk powder on Fonterra Cooperative Group’s online trading platform in April next year. More >>
NZ dollar falls to 3-week low after Italian bond sale
Thursday, 15 December 2011, 9:13 am | BusinessDesk
NZ dollar falls to 3-week low as Italian bond sale stokes Euro-zone fears More >>
While you were sleeping: Euro worries renewed
Thursday, 15 December 2011, 8:24 am | BusinessDesk
Dec. 15 (BusinessDesk) - The euro has fallen to an 11-month low versus the US dollar and global equities are extending losses on Wall Street amid fresh worries that efforts to solve the debt crisis will crimp overall world economic growth. More >>
MARKET CLOSE: NZ shares fall, led by Rakon, Chorus
Wednesday, 14 December 2011, 5:52 pm | BusinessDesk
Dec. 13 (BusinessDesk) - New Zealand shares fell as investors fretted Europe needs to do more to escape its debt crisis. Rakon led the decline and Air New Zealand fell on concern margins have eroded on long-haul routes. More >>
NZ dollar falls to fresh two-week low after Fed scotches QE3
Wednesday, 14 December 2011, 5:10 pm | BusinessDesk
NZ dollar falls to fresh two-week low after Fed scotches QE3, amid trans-Tasman flows More >>
Encouraging prices and weather boosting farm sector: MAF
Wednesday, 14 December 2011, 3:43 pm | BusinessDesk
Dec. 14 (BusinessDesk) – The best prices for sheepmeat since 1977, stabilising dairy prices and favourable spring weather all augur well for agricultural production, the Ministry of Agriculture and Forestry says in a six-monthly update to its annual ... More >>
NZOG pays US$3mln to play in Tunisian oil project
Wednesday, 14 December 2011, 3:11 pm | BusinessDesk
Dec. 14 (BusinessDesk) – New Zealand Oil & Gas has taken another step into Tunisia, paying US$3 million to Canadian oil and gas company Chinook Energy, for a 40 percent stake in an offshore oil play with proven and probable reserves equivalent ... More >>
Psa threatens 25% cut in kiwifruit exports, MAF says
Wednesday, 14 December 2011, 2:26 pm | BusinessDesk
Dec. 14 (BusinessDesk) – The bacterial vine disease that invaded New Zealand kiwifruit orchards last year looks likely to cut export returns by as much as a quarter in the year to March 2013, according to the Ministry of Agriculture and Forestry’s ... More >>
From the Farm: Where’s the NZ brand?
Wednesday, 14 December 2011, 1:49 pm | BusinessDesk
I’ve always thought it a travesty that New Zealand’s grass-fed beef ends up anonymously ground up for hamburgers in the US. Much the same happens with the hoki that finds its ways into McDonald’s filet o fish burgers in Europe. More >>
Central govt subsidies reduce local govt deficits in Sept
Wednesday, 14 December 2011, 1:29 pm | BusinessDesk
Dec. 14 (BusinessDesk) – New Zealand local authorities’ finances improved in the three months to September, with Statistics New Zealand measuring an operating deficit improvement of $43 million due to a rise in grants, subsidies and donations. More >>
Midday update: NZ bio-science sector on a roll: new research
Wednesday, 14 December 2011, 12:18 pm | BusinessDesk
Dec. 14 (BusinessDesk) – New Zealand’s bioscience sector has grown by more than 20 percent in two years and may be ahead of the OECD curve when it comes to focusing on bioeconomy areas expected to deliver the largest gross value by 2030, says a new ... More >>
Mitre 10 sales climb above $500M for first time in 3 years
Wednesday, 14 December 2011, 11:13 am | BusinessDesk
Dec. 13 – Mitre 10 (New Zealand), the country’s biggest hardware store chain, said annual sales rose above $500 million for the first time in three years amid a protracted downturn in the construction sector. More >>
