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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 1454]
ANZ exits Vital Healthcare as OnePath sells management
Monday, 5 December 2011, 10:32 am | BusinessDesk
Dec. 5 (BusinessDesk) – Australia & New Zealand Banking has exited Vital Healthcare Property Trust, selling its remaining 9 percent stake and the management contract of the property trust to a Canadian property investor. More >>
NZX share trading rose 9.9% by value last month
Monday, 5 December 2011, 10:25 am | BusinessDesk
Dec. 5 (BusinessDesk) – The value of share trading on the NZX rose 9.9 percent last month, as the volume of transactions climbed by more than a third compared to the same month of 2010. More >>
Opus International agrees to buy Coffey Rail for A$9M
Monday, 5 December 2011, 10:03 am | BusinessDesk
Dec. 5 (BusinessDesk) – Opus International Consultants, the engineering firm which was awarded one of four mandates to lead design the reconstruction of Christchurch city, will spend A$9 million to buy Australian rail engineering consultancy Coffey ... More >>
Satara shareholders nix kiwifruit merger plan with Seeka
Monday, 5 December 2011, 9:39 am | BusinessDesk
Dec. 5 (BusinessDesk) – Satara Cooperative Group shareholders have voted against a proposed merger with larger rival Seeka Kiwifruit Industries that was seen as giving scale in an industry hurt by the vine-wasting disease Psa. More >>
NZ dollar slips amid Spanish downgrade speculation
Monday, 5 December 2011, 9:03 am | BusinessDesk
Dec.5 (BusinessDesk) – The New Zealand dollar declined amid speculation Spain’s sovereign credit rating may be downgraded, eroding investor confidence in the wake of last week’s move by central banks to cut European borrowing costs. More >>
Traders stop betting on NZ rate cut; no hike to OCR seen
Monday, 5 December 2011, 6:55 am | BusinessDesk
Traders stop betting on NZ rate cut; no rise in OCR seen in this week's review More >>
World Week Ahead: Europe's do-or-die summit
Monday, 5 December 2011, 6:46 am | BusinessDesk
World Week Ahead: Europe's do-or-die summit By Margreet Dietz Dec. 5 (BusinessDesk) - After a superb week for equity markets on both sides of the Atlantic, investors are optimistic but also wary about whether Europe's leaders will yet again spoil ... More >>
MARKET CLOSE: NZ shares mixed; Chorus sinks on index exit
Friday, 2 December 2011, 5:48 pm | BusinessDesk
Dec. 2 (BusinessDesk) – New Zealand shares were mixed, with Chorus sinking as index-weighted institutions sold the phone network company as it fell out of key benchmarks following its split from Telecom, and Fletcher Building extending its gains from a 2 ½-year ... More >>
Hotchin can’t live on $1,000/week, allowed to apply for more
Friday, 2 December 2011, 5:43 pm | BusinessDesk
Dec. 2 (BusinessDesk) – Embattled former Hanover Finance chief Mark Hotchin has had a partial win in the High Court, allowing him to apply confidentially for a larger living allowance than $1000 a week, and to pledge or sell existing assets to pay ... More >>
NZ dollar heads for 5.4% weekly gain on central bank action
Friday, 2 December 2011, 5:14 pm | BusinessDesk
NZ dollar heads for 5.4% weekly gain on central bank action; US employment looms More >>
MONEY TALKS: What can the Nats’ win do for your wallet?
Friday, 2 December 2011, 3:20 pm | BusinessDesk
After National’s clear-cut victory in this year’s general election, like every other astute politics watcher my immediate question on Monday morning was ‘what does this mean?’ More >>
NZ diplomats’ arcane cash habits are subject of bank tender
Friday, 2 December 2011, 1:05 pm | BusinessDesk
Dec. 2 (BusinessDesk) – New Zealand’s Ministry of Foreign Affairs and Trade is offering a global banking contract to handle the $110 million spent by diplomatic posts each year as it seeks to cut costs and break their habit of using hard-to-monitor ... More >>
Midday update: Fourth big block of dairy land up for sale
Friday, 2 December 2011, 12:26 pm | BusinessDesk
Dec. 2 (BusinessDesk) – Dairy farmer and processor Synlait is offering up to a 70 percent stake in its wholly-owned subsidiary, Synlait Farms, to a new investor, adding to the glut of large-scale dairy properties for sale at present. Synlait Farms ... More >>
Australian banks’ offshore forays cloud upbeat S&P view
Friday, 2 December 2011, 11:42 am | BusinessDesk
Dec. 2 (BusinessDesk) – Australia’s biggest banks have a ‘strong’ business position and ‘adequate’ funding, though their forays into other markets and reliance on offshore wholesale funding are risks that need ongoing monitoring, Standard & ... More >>
Auckland port dispute will cost customers: shipping lines
Friday, 2 December 2011, 11:34 am | BusinessDesk
Dec. 2 (BusinessDesk) – Ports of Auckland management and the Maritime Union need to resolve their disputes with disruption coming at the worst possible time for exporters, importers and customers, according to the shipping lines lobby group. More >>
Allied Farmers completes livestock joint venture
Friday, 2 December 2011, 10:45 am | BusinessDesk
Dec. 2 (BusinessDesk) – Allied Farmers, which is rebuilding after the disastrous purchase of finance companies Hanover and United, has completed a joint venture for its livestock business. More >>
Global jitters see S&P cut Australasian bank credit ratings
Friday, 2 December 2011, 10:32 am | BusinessDesk
Dec. 2 (BusinessDesk) – Credit rating downgrades for all Australian and New Zealand trading banks reflect the worsening global economy rather than any weakening in the banks’ own performance, says one of the authors of the KPMG annual survey of the ... More >>
NZ dollar slips below 78 US cts, central bank deal in focus
Friday, 2 December 2011, 9:14 am | BusinessDesk
Dec. 2 (BusinessDesk) – The New Zealand dollar dipped below 78 US cents as markets digest the coordinated moves by the world’s biggest central banks to cut borrowing costs for European lenders in an effort to contain the region’s debt woes. More >>
While you were sleeping: Euro worry returns
Friday, 2 December 2011, 7:33 am | BusinessDesk
Dec. 2 (BusinessDesk) - The optimism of the past three days fizzled amid concern that concerted central bank action to alleviate stress caused by Europe's fiscal problems can only do so much. More >>
MARKET CLOSE: NZ stocks join global rally
Thursday, 1 December 2011, 5:51 pm | BusinessDesk
Dec. 1 (BusinessDesk) – New Zealand stocks rose, joining a global rally after the world’s biggest central banks teamed up to reduce borrowing costs for European lenders, which may limit the impact of the region’s debt crisis. Fletcher Building, ... More >>
