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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 1448]
Satara holders told to expect dividends after merger fails
Wednesday, 14 December 2011, 10:51 am | BusinessDesk
Dec. 14 (BusinessDesk) – Satara Cooperative Group, the kiwifruit grower that tried unsuccessfully to merge with a rival, said shareholders can expect dividend payouts, with the company looking to increase kiwifruit volumes and business reinvestment ... More >>
Restaurant Brands adds Carl’s Jr. fast food brand
Wednesday, 14 December 2011, 10:22 am | BusinessDesk
Dec. 14 (BusinessDesk) - Restaurant Brands New Zealand will roll out a chain of Carl’s Jr. Restaurants after striking a franchise deal with US owner CKE Restaurants, adding to its existing KFC, Pizza Hut and Starbucks Coffee brands. More >>
NZ dollar falls to 2-week low vs. greenback, gains vs. euro
Wednesday, 14 December 2011, 9:17 am | BusinessDesk
NZ dollar falls to 2-week low vs. greenback, gains vs. euro on Europe’s crisis More >>
While you were sleeping: German confidence well oiled
Wednesday, 14 December 2011, 7:37 am | BusinessDesk
Dec. 14 (BusinessDesk) - Equities advanced on both sides of the pond amid an unexpected indication of confidence from Europe's largest economy, strong demand for a Spanish debt auction and a jump in the price of oil. More >>
MARKET CLOSE: NZ shares fall, led by OceanaGold; Trade Me up
Tuesday, 13 December 2011, 6:02 pm | BusinessDesk
Dec. 13 (BusinessDesk) - New Zealand shares fell after credit ratings agencies signalled European leaders may not have done enough to contain the debt crisis and prevent a global slowdown. OceanaGold led the decline as gold fell. Trade Me gained 7.4 percent ... More >>
Fay grizzles over Landcorp deal to manage Crafar farms
Tuesday, 13 December 2011, 5:32 pm | BusinessDesk
Dec. 13 (BusinessDesk) – Michael Fay, the investment banker who played both sides of state asset sales in the 1980s and 1990s, says Landcorp’s involvement with a Chinese bidder for the Crafar family farms has ‘kneecapped’ his rival bid. More >>
Kiwi at two-week lows as EU ratings and bond auctions loom
Tuesday, 13 December 2011, 5:14 pm | BusinessDesk
Dec. 13 (BusinessDesk) – The New Zealand dollar held near a two-week low through local trading as investors await the formal response of rating agencies to the weekend’s European Union agreement to set region-wide fiscal controls. More >>
Postie Plus plans to double market share, seeks acquisitions
Tuesday, 13 December 2011, 5:05 pm | BusinessDesk
Dec. 13 (BusinessDesk) – Clothing retailer Postie Plus Group says it is eyeing acquisition targets aiming to double its size market share despite weak demand from households and a small net profit. More >>
Port of Napier boosts annual earnings by a quarter on logs
Tuesday, 13 December 2011, 4:54 pm | BusinessDesk
Dec. 13 (BusinessDesk) – Port of Napier, which is owned by the Hawke’s Bay Regional Council, boosted annual earnings by a quarter on growing log exports. More >>
A2 Corp's Hinton extracts shares from chairman's vehicle
Tuesday, 13 December 2011, 1:03 pm | BusinessDesk
Dec. 13 (BusinessDesk) – A2 Corp director Greg Hinton has extracted his shareholding from an investment vehicle shared with Cliff Cook, chairman of the company that markets milk with the ‘A2’ type of beta casein protein. More >>
Trade Me shares trade rise 2.2% in NZX debut
Tuesday, 13 December 2011, 12:15 pm | BusinessDesk
Dec. 13 (BusinessDesk) – Shares of Trade Me, New Zealand’s biggest online auction site, first traded at $2.76 cents in their NZX debut, 2.2 percent above their price in Fairfax Media’s initial public offering of 34 percent of the business. More >>
Midday update: Trade Me delivers 10 cent listing stage
Tuesday, 13 December 2011, 12:15 pm | BusinessDesk
Dec. 13 (BusinessDesk) – Auction site Trade Me delivered a 13 cent, or 4.8 percent, stag on listing at noon in New Zealand and 10 a.m. on the Australian Stock Exchange, to trade at $2.83 within quarter of an hour of listing.. Investors were offered one-third ... More >>
Pyne Gould’s EPIC to repay bank loan after Thames Water sale
Tuesday, 13 December 2011, 11:53 am | BusinessDesk
Dec. 13 (BusinessDesk) – Pyne Gould Corp’s Equity Partners Infrastructure Company No 1 (EPIC) will repay a $48.7 million loan to National Australia Bank by the close of business today, indicating it’s settled the 34 million pound sale of its British ... More >>
COMMENT: Time to step up, Dave
Tuesday, 13 December 2011, 11:39 am | BusinessDesk
Dec. 13 (BusinessDesk) – Elected to the Labour leadership on the 13th of the month, unlucky for some, David Shearer has some big shoes to fill and probably not very long to do it. More >>
Fonterra raises 2012 payout forecast by 20 cents
Tuesday, 13 December 2011, 11:38 am | BusinessDesk
Dec. 13 (BusinessDesk) – Fonterra Cooperative Group, New Zealand’s biggest company by sales, raised its forecast payout for 2012, citing a ‘modest’ recovery in international prices over the past two months. More >>
NZ food prices rise for 1st month in four, led by groceries
Tuesday, 13 December 2011, 11:27 am | BusinessDesk
Dec. 13 (BusinessDesk) – New Zealand food prices rose for the first month in four, led by groceries and meat, though the recovery probably isn’t enough to signal inflation is accelerating. More >>
Metlifecare completes $45.5M capital raising
Tuesday, 13 December 2011, 10:30 am | BusinessDesk
Dec. 13 (BusinessDesk) – Metlifecare, the retirement village operator, has completed its $45.5 million capital raising, allowing it to repay debt and fund expansion opportunities. More >>
NZX director Williams leaves for ANZ Bank executive role
Tuesday, 13 December 2011, 9:15 am | BusinessDesk
Dec. 13 (BusinessDesk) – NZX director Nigel Williams has resigned to take a senior executive role at Australia & New Zealand Banking and the stock exchange’s board has tapped Television New Zealand director Alison Gerry as his replacement. More >>
Telecom NZ starts search for new boss
Tuesday, 13 December 2011, 9:08 am | BusinessDesk
Dec. 13 (BusinessDesk) – Telecom, the phone company that carved out its network business as a separate entity last month, has begun its search for a new chief executive to replace outgoing Paul Reynolds. More >>
NZ dollar drops 1 US cent on Moody’s disappointment over EU
Tuesday, 13 December 2011, 8:59 am | BusinessDesk
Nov. 11 (BusinessDesk) – The New Zealand dollar tumbled 1 US cent after Moody’s Investors Service said it will review European Union nation’s ratings in the wake of the region’s inconclusive debt summit. More >>
