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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 1459]
MARKET CLOSE: NZ shares fall, led by Pumpkin Patch
Thursday, 24 November 2011, 6:06 pm | BusinessDesk
Nov. 24 (BusinessDesk) – New Zealand shares fell, led by children’s clothing chain Pumpkin Patch, amid concerns cautious consumers are making it hard for retailers to lift their margins. Cavalier rose after a court appeal against its plans to dominate ... More >>
NZ dollar gains from eight-month low ahead of Thanksgiving
Thursday, 24 November 2011, 5:32 pm | BusinessDesk
Nov. 24 (BusinessDesk) – The New Zealand dollar rose from an eight-month low in the local session as some investors were lured to the relatively high-yielding currency ahead of the US Thanksgiving holiday. More >>
Kermadec to pay as much as $7M to bring management in-house
Thursday, 24 November 2011, 2:21 pm | BusinessDesk
Nov. 24 (BusinessDesk) – Kermadec Property Fund, which owns five commercial properties in Auckland, will pay up to $7 million to bring its management contract in-house and acquire the funds management business of manager Augusta Funds Management. More >>
Godfrey Hirst threatens to quit NZ production after ruling
Thursday, 24 November 2011, 1:25 pm | BusinessDesk
Nov. 24 (BusinessDesk) – Godfrey Hirst NZ, New Zealand’s biggest carpet maker, says it may abandon local manufacturing after the High Court rejected its appeal against a decision to allow a group led by rival Cavalier to create a monopoly in ... More >>
NZ trade deficit smaller than expected in October on exports
Thursday, 24 November 2011, 12:30 pm | BusinessDesk
Nov. 24 (BusinessDesk) – New Zealand’s trade deficit was smaller than expected in October as exporters shipped more crude oil and meat. More >>
Midday update: Eurozone reels as German bond auction fails
Thursday, 24 November 2011, 11:46 am | BusinessDesk
Nov. 24 (BusinessDesk) – Fears that the Eurozone crisis is deepening have been given new life, thanks to the partial failure of German sovereign bond offer, which the Financial Times newspaper describes as “the worst-received bond sale by Germany ... More >>
Auckland Airport international passengers rise 9.3% in Oct
Thursday, 24 November 2011, 10:57 am | BusinessDesk
Nov. 24 (BusinessDesk) – Auckland International Airport, the country’s major gateway, lifted the number of international passengers by 9.3 percent in October, making up for a decline in domestic travelers. More >>
Court dismisses Godfrey Hirst bid to stop scour monopoly
Thursday, 24 November 2011, 10:26 am | BusinessDesk
Nov. 24 (BusinessDesk) – The High Court in Wellington has dismissed an appeal against the regulatory approval for an acquisition that would give Cavalier Wool Holdings the ability to build a wool scouring monopoly in New Zealand. More >>
NZ house prices to show ‘modest growth’ on tight supply: ASB
Thursday, 24 November 2011, 9:59 am | BusinessDesk
Nov. 23 (BusinessDesk) – Conditions are ripe for New Zealand house prices to show “modest growth” over the next 12 months as supply constraints that have lifted the Auckland market start to show up throughout the country, ASB says. More >>
School term changes for rugby cup hit Postie Plus 1Q sales
Thursday, 24 November 2011, 9:53 am | BusinessDesk
Nov. 24 (BusinessDesk) – Clothing chain Postie Plus reported a 4.3 percent fall in first-quarter sales, blaming the changes to the school year to cater for the Rugby World Cup for sapping demand for school uniforms. More >>
NZ dollar sinks to new 8-month low, German bonds hit hard
Thursday, 24 November 2011, 9:01 am | BusinessDesk
Nov. 24 (BusinessDesk) – The New Zealand dollar fell to a new eight-month low after Germany failed to sell all the bonds it had offered in an auction, a sign Europe’s debt crisis is spreading to even the region’s strongest economies. More >>
From the Farm: How to be a Chinese buyer
Thursday, 24 November 2011, 8:49 am | BusinessDesk
Kiwis want the government to step in and stop the sale of the Crafar dairy farms to Shanghai Pengxin Group, the highest bidder, according to polling commissioned by the under-bidders, a group led by Michael Fay. More >>
While you were sleeping: German bonds hit hard
Thursday, 24 November 2011, 7:52 am | BusinessDesk
Nov. 24 (BusinessDesk) - As a sign of increasing investor wariness of all things branded ‘eurozone’, Germany struggled overnight to sell 10-year bonds as the rift between Chancellor Angela Merkel and her counterparts widened. More >>
NZ housing confidence falls in 3 months to October: ASB
Thursday, 24 November 2011, 6:05 am | BusinessDesk
Nov. 23 (BusinessDesk) – Housing confidence has continued to ease, though with signs of improvement in Christchurch following the devastating earthquakes, according to an ASB survey. More >>
MARKET CLOSE: NZ stocks mixed; Chorus gains on debut
Wednesday, 23 November 2011, 6:02 pm | BusinessDesk
Nov. 23 (BusinessDesk) - New Zealand shares were mixed, with the Telecom spin-off Chorus rising it in its first day of trading while Fisher & Paykel Healthcare declined after posting earnings. More >>
NZ dollar hits 8-month low on weak Chinese manufacturing
Wednesday, 23 November 2011, 5:26 pm | BusinessDesk
NZ dollar hits 8-month low on weak Chinese manufacturing, may fall further if global mood sours More >>
UPDATED: NZX wins bid to chase Aussie grain exchange in NZ
Wednesday, 23 November 2011, 3:46 pm | BusinessDesk
Nov. 23 (BusinessDesk) – NZX has won its bid to pursue compensation from the sellers of the Australian Clear Grain Exchange in the New Zealand courts after the deal went sour last year. More >>
Business confidence stalls in NZ’s largest city
Wednesday, 23 November 2011, 2:29 pm | BusinessDesk
Nov. 23 (BusinessDesk) – Auckland businesses have signaled a slide in their overall business environment, with confidence prospects down on the previous three months. The Auckland Chamber of Commerce, which surveys 1000 business respondents, found ... More >>
Kerr’s Torchlight fund makes bigger push across the Tasman
Wednesday, 23 November 2011, 12:41 pm | BusinessDesk
Nov. 23 (BusinessDesk) – George Kerr’s Torchlight Investment Group, a subsidiary of Pyne Gould Corp which specialises in squeezing value from underperforming assets, is making another raid across the Tasman for more distressed property. More >>
Midday update: Kiwi dollar near 8 month low as poll looms
Wednesday, 23 November 2011, 12:30 pm | BusinessDesk
Nov. 23 (BusinessDesk) – The New Zealand dollar continues to hover around its lowest point against the American dollar since late March, trading a 74.77 US cents at midday, having sunk as low as 74.43 cents yesterday. Alex Sinton, a senior foreign exchange ... More >>
