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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 1455]
NZ dollar drops back as central bank moves attract skeptics
Thursday, 1 December 2011, 5:35 pm | BusinessDesk
Dec. 1 (BusinessDesk) – The New Zealand dollar pared gains after surging 2 percent in New York trading amid fears a European bank’s inability to secure credit lines was behind the coordinated central bank effort to cut funding costs for lenders. More >>
Synlait seeks $70 mln for majority stake in farms portfolio
Thursday, 1 December 2011, 5:29 pm | BusinessDesk
Dec. 1 (BusinessDesk) – Canterbury dairy producer and processor Synlait is looking to shed as much as 70 percent of its holding in Synlait Farms, with potential for the 4,820 hectares of prime, irrigated Canterbury dairy farmland to be sold to offshore ... More >>
Canterbury University heads for deficit as student fees drop
Thursday, 1 December 2011, 4:56 pm | BusinessDesk
Dec. 1 (BusinessDesk) – New Zealand’s University of Canterbury is forecasting a 2012 budget deficit in the aftermath of the region’s devastating earthquakes, which sapped student enrollments and drove up insurance costs. More >>
Rubicon’s biggest shareholder poised to join board
Thursday, 1 December 2011, 3:02 pm | BusinessDesk
Dec. 1 (BusinessDesk) – Rubicon, the forestry based biotech company under siege from one of its cornerstone investors, is putting up its biggest shareholder and a new independent director for election to the board at this month’s annual meeting. More >>
NZ commodity prices extend decline for sixth month
Thursday, 1 December 2011, 2:12 pm | BusinessDesk
Dec. 1 (BusinessDesk) – New Zealand commodity prices fell for a sixth month in November, led by declines in the price of butter, cheese and aluminium. More >>
Nufarm expects flat first-half profit, better annual result
Thursday, 1 December 2011, 1:41 pm | BusinessDesk
Dec. 1 (BusinessDesk) – Nufarm, the agricultural chemicals company, says first-half profit should be “broadly in line” with the A$22.7 million it reported for the same six months a year earlier. More >>
Infratil’s Kent airport halts fuel sales to Iran Air
Thursday, 1 December 2011, 1:11 pm | BusinessDesk
Infratil’s Kent airport halts fuel sales to Iran Air in face of US sanctions More >>
Nufarm spends US$55.2 mln on American seeds business
Thursday, 1 December 2011, 12:57 pm | BusinessDesk
Dec. 1 (BusinessDesk) –Nufarm, the Australian agriculture chemicals maker, spent US$55.2 million buying a Minnesota-based sunflower seeds researcher and producer, just one week after it secured a A$625 million bank facility to refinance a one-year ... More >>
Pacific Equity sweetens offer for Spotless
Thursday, 1 December 2011, 12:08 pm | BusinessDesk
Dec. 1 (BusinessDesk) – Australia’s Pacific Equity Partners has sweetened its offer for Australasian cleaning and laundry services company Spotless Group, which has agreed to consult its shareholders and continue talks with the buyout firm. More >>
Midday update: Growth slowing to 1.5% next year, says NZIER
Thursday, 1 December 2011, 11:50 am | BusinessDesk
Dec. 1 (BusinessDesk) – The New Zealand economy will grow by just 1.5 percent next year, says the New Zealand Institute of Economic Research, which released its latest Quarterly Predictions today with a gloomy warning about the outlook for the world ... More >>
Telecom’s A3 credit rating affirmed by Moody’s after split
Thursday, 1 December 2011, 11:48 am | BusinessDesk
Dec. 1 (BusinessDesk) – Telecom Corp.’s credit rating was affirmed by Moody’s and the outlook raised to ‘stable’ from ‘negative’ following the completion of the Chorus demerger yesterday. More >>
Murray Goulburn joins Fonterra’s GlobalDairyTrade platform
Thursday, 1 December 2011, 11:39 am | BusinessDesk
Dec. 1 (BusinessDesk) – Murray Goulburn, the Australian farmer-owned dairy cooperative, is to begin selling dairy products through Fonterra Cooperative Group’s GlobalDairyTrade platform, becoming the second outside company to sign up for trading. More >>
NZ terms of trade fall 0.7% on weaker export prices
Thursday, 1 December 2011, 10:55 am | BusinessDesk
Dec. 1 (BusinessDesk) – New Zealand’s terms of trade – the amount of imports that can be funded by a fixed quantity of exports – fell in the third quarter, driven by export prices for the nation’s primary sector exports continuing to fall ... More >>
Chorus assigned Baa2 rating by Moody’s
Thursday, 1 December 2011, 10:11 am | BusinessDesk
Dec. 1 (BusinessDesk) – Chorus, New Zealand’s largest telecommunications network operator, has been assigned an investment grade credit rating by Moody’s Investors Service, reflecting its high margins and growing market position. More >>
NZ dollar jumps 2% as central banks cut borrowing costs
Thursday, 1 December 2011, 9:01 am | BusinessDesk
NZ dollar jumps 2% to trade above 78 cts as central banks cut borrowing costs More >>
From the Farm: The end of the 5-litre rule
Thursday, 1 December 2011, 8:40 am | BusinessDesk
There's a grey area at the farm gate. You can stop and buy a dozen free-range eggs with nary a regulator or a rule in sight. Those that stop may not be aware that the farmer needs neither permit nor risk management plan (RMP) - provided their flock ... More >>
While you were sleeping: Central banks boost liquidity
Thursday, 1 December 2011, 7:21 am | BusinessDesk
Dec. 1 (BusinessDesk) - Equities advanced as central banks moved to boost liquidity by cutting the cost of US dollar funding in an effort to contain the impact of the euro zone's fiscal crisis on the global economy. More >>
One-in-four chance of a new global financial crisis: NZIER
Thursday, 1 December 2011, 7:20 am | BusinessDesk
Dec. 1 (BusinessDesk) – The chances of a break-up of the European common currency, the euro, are rated at 25 percent and New Zealand firms should prepare for “another global financial crisis” if it happens, says the New Zealand Institute of Economic ... More >>
Rangatira in acquisition talks, may expand Hellers unit
Thursday, 1 December 2011, 5:34 am | BusinessDesk
Nov. 29 (BusinessDesk) – Rangatira, the Wellington-based investment company, said it’s in talks that may lead to an acquisition that would expand its Hellers small goods business. More >>
MARKET CLOSE: NZ shares rise; Telecom, Fletcher advance
Wednesday, 30 November 2011, 6:11 pm | BusinessDesk
Nov. 30 (BusinessDesk) - New Zealand shares rose on the final day of November, with market heavyweights Telecom and Fletcher Building pacing the advance amid signs investors are becoming more confident to take on risk. More >>
