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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 1460]
Ports of Auckland prepares for strike as union talks fail
Wednesday, 23 November 2011, 12:04 pm | BusinessDesk
Nov. 23 (BusinessDesk) – Ports of Auckland, New Zealand’s largest container port, said yesterday’s mediation with the Maritime Union was unsuccessful and it is preparing for a strike next month that will see some ships diverted to Tauranga. More >>
Chorus gains 4.5% on NZX debut, misses benchmark weighting
Wednesday, 23 November 2011, 11:43 am | BusinessDesk
Nov. 23 (BusinessDesk) – Chorus, the telecommunications network operator spun off from Telecom, increased 4.5 percent in its NZX debut though investors said the gains may be limited because the divided company will fall out of major global investment ... More >>
Contact Energy sets minimum 8% coupon on sale of 2042 bonds
Wednesday, 23 November 2011, 11:37 am | BusinessDesk
Nov. 23 (BusinessDesk) – Contact Energy said the coupon on its 2042 bonds will be a minimum 8 percent, at least matching the rate on its existing 2014 bonds traded on the NZDX market. More >>
Public wants Govt to stop Crafar sale to Chinese: Fay poll
Wednesday, 23 November 2011, 10:50 am | BusinessDesk
Nov. 23 (BusinessDesk) – Polling for the Michael Fay-led consortium trying to buy the Crafar dairy farms shows an “overwhelming desire for the government to stop in and stop the sale” to the would-be Chinese buyer, Pengxin International. More >>
F&P Healthcare 1H profit before tax charge falls 1% on kiwi
Wednesday, 23 November 2011, 10:29 am | BusinessDesk
F&P Healthcare 1H profit before tax charge falls 1% on high kiwi; FY profit seen higher More >>
NZX wins bid to chase Aussie grain exchange in NZ courts
Wednesday, 23 November 2011, 10:21 am | 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 >>
NZ dollar holds near 8-month low as NZ election looms
Wednesday, 23 November 2011, 9:06 am | BusinessDesk
Nov. 23 (BusinessDesk) – The New Zealand dollar held near an eight-month low ahead of this weekend’s general election and after figures showed the US economic growth slowed more than expected in the third quarter. More >>
While you were sleeping: US growth weakens
Wednesday, 23 November 2011, 7:03 am | BusinessDesk
Nov. 23 (BusinessDesk) - Equities declined after a downward revision to the pace of US economic expansion in the third quarter and as borrowing costs in the euro zone rose yet again. More >>
MARKET CLOSE: NZ stocks fall as Fletcher continues slide
Tuesday, 22 November 2011, 5:59 pm | BusinessDesk
Nov. 22 (BusinessDesk)- New Zealand shares fell, reflecting a continued slide in the price of Fletcher Building, the construction company weathering a downturn in residential building in Australasia. Telecom rose ahead of separate trading for its ... More >>
NZ dollar holds near eight-month low as US debt talks stall
Tuesday, 22 November 2011, 5:18 pm | BusinessDesk
NZ dollar holds near eight-month low as US debt talks stall, interest rates poised to stay low More >>
Govt celebrates Chinese market as $100m Synlait plant opens
Tuesday, 22 November 2011, 5:10 pm | BusinessDesk
Nov. 22 (BusinessDesk) – A $100 million infant milk formula plant at Dunsandel, south of Christchurch, opened today with the fast-growing Chinese market in its sights, and endorsement from the highest levels of the National Party. More >>
Argosy posts $20m 1H loss after taking management inhouse
Tuesday, 22 November 2011, 5:05 pm | BusinessDesk
Nov. 22 (BusinessDesk) - Argosy Property Trust's bottom line turned to a $20 million loss for the six months ended September from a $6 million profit in the same six months a year earlier mainly because of the $21.6 million cost of internalising its ... More >>
ANZ National loses ground in agricultural lending
Tuesday, 22 November 2011, 4:50 pm | BusinessDesk
Nov. 22 (BusinessDesk) – ANZ National Bank, the nation’s biggest lender, lost rural customers as its loan book shrank during the 2011 financial year. More >>
NZ firms see more benign track for inflation: RBNZ survey
Tuesday, 22 November 2011, 4:45 pm | BusinessDesk
Nov. 22 (BusinessDesk) – New Zealand companies have softened their inflation outlook for the fourth quarter, suggesting Reserve Bank governor Alan Bollard can keep interest rates low for longer. More >>
Fletcher appoints Mark Malpass as concrete division CEO
Tuesday, 22 November 2011, 3:47 pm | BusinessDesk
Nov. 22 (BusinessDesk) – Fletcher Building, New Zealand’s largest construction company, has appointed Mark Malpass as chief executive of its concrete division. More >>
Pumpkin Patch aims to cut costs, bank debt and maximise Xmas
Tuesday, 22 November 2011, 3:27 pm | BusinessDesk
Nov. 22 (BusinessDesk) - Pumpkin Patch, the children's clothing retailer, plans to focus on cost-cutting, reducing bank debt and wringing the most it can out of Christmas while it expects continued difficult trading conditions. More >>
Baby boomers renew fondness for credit cards, Veda says
Tuesday, 22 November 2011, 1:41 pm | BusinessDesk
Nov. 22 (BusinessDesk) – New Zealand baby boomers – those kiwis aged between 44 and 62- have renewed their fondness for credit cards, with inquiries surging about 27 percent in the first 10 months of 2011. More >>
Feltex directors, brokers lose bid to shift suit to Auckland
Tuesday, 22 November 2011, 1:02 pm | BusinessDesk
Nov. 22 (BusinessDesk) – The directors of failed carpet maker Feltex Carpets and brokerages involved in the initial public float have lost their bid to shift a class suit to Auckland. More >>
Midday update: Trade Me balance sheet ripe for debt-loading
Tuesday, 22 November 2011, 12:24 pm | BusinessDesk
Nov. 22 (BusinessDesk) – Auction site Trade Me’s balance sheet is under-geared and ripe for debt-loading by Fairfax Media after it flicks 34 percent of the company to New Zealand and Australian shareholders, says research from Wellington investment ... More >>
Dorchester Pacific raises $11M in convertible notes
Tuesday, 22 November 2011, 12:19 pm | BusinessDesk
Nov. 22 (BusinessDesk) - Dorchester Pacific, which avoided failure last year by convincing investors to accept a debt-for-equity swap, has raised $11 million in a sale of convertible notes and is offering to buy back $4 million of NZDX-listed debt at 70 cents in the ... More >>
