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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 1457]
Cerebos may end up as rival if bid for Comvita falls through
Tuesday, 29 November 2011, 1:03 pm | BusinessDesk
Nov. 29 (BusinessDesk) – Cerebos New Zealand is stepping up pressure on Comvita to accept its takeover offer, saying it would consider setting up a rival Manuka honey products business if the $71.6 million takeover bid falls through. More >>
Renaissance loss worse than forecast, may raise capital
Tuesday, 29 November 2011, 12:14 pm | BusinessDesk
Nov. 29 (BusinessDesk) – Renaissance Corp, which used to have a monopoly on national distribution of Apple products, has posted a worse-than-forecast annual loss and may have to raise new capital as it waits for insurance cover from the Christchurch ... More >>
Midday update: Methven profit falls 25%, shares gain
Tuesday, 29 November 2011, 12:05 pm | BusinessDesk
Nov. 29 (BusinessDesk) – Shares of Methven rebounded from a 2 ½-year low after the NZX-listed bathroom fittings maker confirmed a 25 percent drop in first-half profit as sales fell in its core Australian and New Zealand markets. More >>
TAG’s 18-well Cheal programme gets green light
Tuesday, 29 November 2011, 10:12 am | BusinessDesk
Nov. 29 (BusinessDesk) – Canadian oil and gas producer TAG Oil says it hopes to be drilling in the Cheal prospect, onshore Taranaki, by mid-December, assuming no appeals against resource consents granted for an 18-well exploration programme. More >>
NZ sawn timber exports suffer as China buys more raw logs
Tuesday, 29 November 2011, 9:28 am | BusinessDesk
Nov. 28 (BusinessDesk) – New Zealand’s sawn timber exports to China have been ‘hammered’, while raw log shipments surged in the wake of Beijing’s efforts to cool the economy and amid increased sales by rival forestry nations such as Canada, ... More >>
Methven 1H profit slumps 25% on tepid Australasian building
Tuesday, 29 November 2011, 9:25 am | BusinessDesk
Nov. 29 (BusinessDesk) – Methven, the tapware and bath fittings maker, posted a 25 percent slump in first-half profit, blaming a sharp downturn in Australian activity and slow rebuilding programmes after a string of natural disasters on both sides ... More >>
NZ dollar rises as Europe’s rescue plans boost optimism
Tuesday, 29 November 2011, 9:04 am | BusinessDesk
Nov. 29 (BusinessDesk) – The New Zealand dollar rose as optimism European leaders are making progress on plans to resolve the region’s sovereign debt crisis helped global equity markets and commodities to rally. More >>
While you were sleeping: Renewed euro rescue plans
Tuesday, 29 November 2011, 6:53 am | BusinessDesk
Nov. 29 (BusinessDesk) - Investors welcomed renewed efforts by European Union leaders to check the escalation of the sovereign debt crisis. More >>
National victory may stoke appeal of NZ bonds: AMP Capital
Monday, 28 November 2011, 6:03 pm | BusinessDesk
Nov. 28 (BusinessDesk) – The incumbent National Party’s victory in last weekend’s elections may ultimately stoke demand for the nation’s government bonds, by offering continuity of policy in an increasingly uncertain world, AMP Capital Investors says. More >>
Heartland flags 1H profit of up to $10 mln, trims FY range
Monday, 28 November 2011, 5:43 pm | BusinessDesk
Heartland NZ flags 1H profit of up to $10 mln, trims top end of annual earnings forecast More >>
MARKET CLOSE: NZ shares rise from 3-month low
Monday, 28 November 2011, 5:39 pm | BusinessDesk
Nov. 28 (BusinessDesk) – New Zealand shares rose from a three-month low as investors were lured to beat-up stocks including Auckland International Airport and Fletcher Building, and reports of a possible bailout for Italy stoked optimism about Europe’s ... More >>
NZ dollar rises on election, report of Italy bailout
Monday, 28 November 2011, 5:21 pm | BusinessDesk
NZ dollar rises to 10-day high on election outcome, talk of IMF bail-out for Italy More >>
Kingfish posts $2m 1H loss as shares prices fall
Monday, 28 November 2011, 4:38 pm | BusinessDesk
Investment company Kingfish made a $2 million first-half loss after writing $3 million off the value of its portfolio amid falling share prices. More >>
SMELLIE ON SMEs: Owning a business – the dream meets reality
Monday, 28 November 2011, 2:36 pm | BusinessDesk
Nov. 28 (BusinessDesk) – Opinion polls are sometimes a bit like soap operas. You kind of know the outcome, but that doesn’t stop you watching. A poll for American Express among small business owners across New Zealand in October, by UMR Research, ... More >>
Key says Genesis, Mighty River Power first on the block
Monday, 28 November 2011, 1:50 pm | BusinessDesk
Nov. 28 (BusinessDesk) – Prime Minister John Key says electricity generators and retailers Genesis Energy and Mighty River Power will probably be the first state-owned enterprises sold to be sold under the so-called mixed ownership model. More >>
NZ business confidence arrests three-month slide
Monday, 28 November 2011, 1:41 pm | BusinessDesk
Nov. 28 (BusinessDesk) – New Zealand business confidence picked up this month, arresting a three-month decline, as companies apparently shook off fears that ongoing global volatility will plunge the local economy into another slump. More >>
MIDDAY UPDATE: Kiwi dollar gains on Key victory
Monday, 28 November 2011, 12:13 pm | BusinessDesk
Nov. 28 (BusinessDesk) – The New Zealand dollar rose after the National Party was returned to power with its largest majority in 60 years and after reports that the International Monetary Fund is preparing to provide bailout funds for Italy. More >>
NZ Dollar Outlook: Kiwi may gain on hopes of Europe progress
Monday, 28 November 2011, 11:34 am | BusinessDesk
Nov. 28 (BusinessDesk) – The New Zealand dollar may gain this week following National’s election victory and amid optimism Europe will make progress in containing its debt crisis. More >>
Key’s poll victory gives markets some certainty, kiwi gains
Monday, 28 November 2011, 11:02 am | BusinessDesk
Nov. 28 (BusinessDesk) – Prime Minister John Key’s electoral victory on Saturday will give local markets confidence the government will be undeterred in seeking to get its books back in the black by 2015. More >>
Gold explorer Glass Earth lost C$670,000 in Sept Qtr
Monday, 28 November 2011, 10:52 am | BusinessDesk
Nov. 28 (BusinessDesk) - Gold explorer Glass Earth Gold lost C$670,000 (NZ$855,246) in the three months ended Sept. 30, taking its loss for the first nine months of its year to C$993,000, down from a loss of C$1.1 million in the same nine months ... More >>
