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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 1450]
MONEY TALKS: Why term deposits still look OK
Friday, 9 December 2011, 7:03 pm | BusinessDesk
MONEY TALKS: Why term deposits are still a good idea when rates are this low More >>
NZ needs a real debate on oil and mining, say engineers
Friday, 9 December 2011, 6:03 pm | BusinessDesk
Dec. 9 (BusinessDesk) – New Zealand can’t afford to write off the potential for wealth and growth in its oil, gas, and mineral estate, says the Institute of Professional Engineers in a paper released today. More >>
NZ dollar dives back down as markets lose faith in EU summit
Friday, 9 December 2011, 5:46 pm | BusinessDesk
Dec. 9 (BusinessDesk) – The New Zealand dollar fell near a two-week low as markets spurned so-called risk sensitive assets amid growing pessimism the European Union leaders’ summit, Friday European time, won’t achieve any concrete proposals to ... More >>
MARKET CLOSE: NZX50 rises; Rakon rebounds, retailers slide
Friday, 9 December 2011, 5:46 pm | BusinessDesk
Dec. 9 (BusinessDesk) – New Zealand shares rose as Rakon climbed from a record low and Telecom gained to its highest level since the spin-off of its Chorus network unit last week. Pumpkin Patch led retailers lower after figures showed weak consumer ... More >>
2degrees complains to regulator over Telecom’s ‘sim-locking’
Friday, 9 December 2011, 1:55 pm | BusinessDesk
Dec. 9 (BusinessDesk) – 2degrees, the country’s newest mobile operator, complained to the Commerce Commission after Telecom said it would impose “sim-locking” on customers of its new Skinny brand. More >>
NZ housing sales rise 17% in Nov, median price climbs
Friday, 9 December 2011, 1:48 pm | BusinessDesk
Dec. 9 (BusinessDesk) – New Zealand home sales jumped in November and the median price rose to a record, suggesting strengthening of the property market seen in Auckland is now becoming a nationwide phenomena. More >>
NZ consumer confidence extends slide in subdued Xmas run-up
Friday, 9 December 2011, 1:46 pm | BusinessDesk
Dec. 9 (BusinessDesk) – New Zealand consumers are feeling the heat of global economic conditions, with optimism falling for a fourth month in the lead-up to the important Christmas shopping period. More >>
Midday Update: NZ electronic card spending slips after RWC
Friday, 9 December 2011, 12:22 pm | BusinessDesk
Dec. 9 (BusinessDesk) - Kiwis cut spending on credit and debit cards in November as the hangover from the Rugby World Cup binge set in a month before the traditionally busy Christmas holiday. More >>
NZ spending on electronic cards tapers off after World Cup
Friday, 9 December 2011, 11:45 am | BusinessDesk
Dec. 9 (BusinessDesk) – New Zealanders wound back spending on credit and debit cards in November as the hangover from the Rugby World Cup spending binge set in a month before the traditionally busy Christmas holiday. More >>
NZ local councils anticipate lower borrowing costs from LGFA
Friday, 9 December 2011, 11:38 am | BusinessDesk
Dec. 7 (BusinessDesk) – New Zealand’s local bodies are crunching the numbers on the savings they expect in lower borrowing costs by teaming up in the Local Government Funding Agency, which will sell bonds on their behalf starting in February. More >>
Chow Group to foot $23,000 legal bill in Clearwater dispute
Friday, 9 December 2011, 10:20 am | BusinessDesk
Dec. 9 (BusinessDesk) – Chow Group, the Wellington-based property developer better known for their sex industry empire, have copped Clearwater Construction’s legal bill in a stoush over an unpaid bill. More >>
Pencarrow Private Equity targets launches $77 mln fund
Friday, 9 December 2011, 8:58 am | BusinessDesk
Dec. 9 (BusinessDesk) – Pencarrow Private Equity is targeting well-managed local companies with an eye on expansion for its new $77 million fund. More >>
While you were sleeping: ECB disappoints
Friday, 9 December 2011, 7:47 am | BusinessDesk
Dec. 9 (BusinessDesk) - Equities on both sides of the Atlantic dropped on disappointment the European Central Bank won't be boosting its bond purchases to help ease the euro zone's fiscal crisis. More >>
MARKET CLOSE: NZ shares fall; Sanford, Rakon, Fletcher drop
Thursday, 8 December 2011, 6:05 pm | BusinessDesk
Dec. 8 (BusinessDesk) - New Zealand shares fell in a generally weaker day across Asia ahead of Friday's EU summit. Sanford, which has been indicted on pollution charges in the US, led the decline, chased by Rakon at a record low and Fletcher Building. More >>
NZ dollar gains on Aussie dollar, Bollard holds OCR
Thursday, 8 December 2011, 5:05 pm | BusinessDesk
Dec. 8 (BusinessDesk) – The New Zealand dollar climbed about 20 basis points against its trans-Tasman counterpart after Australia lost jobs last month when analysts were picking a gain, and after New Zealand’s central bank talked down expectations of ... More >>
Argosy gets favourable IRD ruling over management contract
Thursday, 8 December 2011, 4:59 pm | BusinessDesk
Dec. 8 (BusinessDesk) - Argosy Property Trust, which posted a first-half loss on costs to internalise its management contract, says the Inland Revenue Department will allow it to treat the transaction as tax deductible. More >>
Midday update: Kiwi up at US78 cents as OCR stays at 2.5%
Thursday, 8 December 2011, 12:44 pm | BusinessDesk
Dec. 8 (BusinessDesk) – The New Zealand dollar rose slightly this morning on the Reserve Bank’s widely anticipated monetary policy statement, which leaves the Official Cash Rate at a historically low 2.5 percent. The kiwi bounced up from 77.75 US cents ... More >>
Plenty of cash on deposit to support Govt’s SOE floats
Thursday, 8 December 2011, 12:02 pm | BusinessDesk
Dec. 8 (BusinessDesk) –The $7 billion target for asset sales is a mere a drop in the bucket of lenders’ retail funding, according to Reserve Bank Governor Alan Bollard. More >>
Nuplex gains regulatory approval for Viverso purchase
Thursday, 8 December 2011, 11:54 am | BusinessDesk
Dec. 8 (BusinessDesk) - Resins company Nuplex Industries said it has regulatory approval of its 75 million euro purchase of Viverso which will provide it resins production in Germany. More >>
TAG to mount 10% buyback as share price flags
Thursday, 8 December 2011, 11:40 am | BusinessDesk
Dec. 8 (BusinessDesk) – TAG Oil is to buy back 10 percent of its issued capital as the company believes the market is undervaluing its interests in a growing web of commercial oil and gas finds, one of which it called a potential “game changer” ... More >>
