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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 1462]
World Week Ahead: Debt talks to dominate
Monday, 21 November 2011, 8:46 am | BusinessDesk
Nov. 21 (BusinessDesk) - There is simply no let-up in the uncertainties surrounding the fiscal crisis of the European Union, and the US debt situation is about to be thrown back into the mix too. More >>
NZ stocks fall, Cavalier pace decliners on profit warning
Friday, 18 November 2011, 5:56 pm | BusinessDesk
Nov. 18 (BusinessDesk) – New Zealand stocks fell, paced by Cavalier Corp after the carpet maker slashed its forecast earnings for the full year due to tepid consumer demand and surging wool prices. More >>
Kiwi pares loss as buyers emerge for cheap Aussie dollar
Friday, 18 November 2011, 5:11 pm | BusinessDesk
Nov. 18 (BusinessDesk) – The New Zealand dollar recovered from a fresh six-week low after buyers came out of the woodwork when they saw the Australian dollar dropped below parity with the greenback, spurring demand for a cheap entry point. More >>
Zespri fined ½ mln dollars for anti-competitive behaviour
Friday, 18 November 2011, 4:42 pm | BusinessDesk
Nov.18 (BusinessDesk) – Zespri International, the world’s largest marketer of kiwifruit, has been fined half a million dollars for anti competitive behavior in the Korean market. More >>
Zespri fined ½ million dollars for anti-competitive behavior
Friday, 18 November 2011, 4:37 pm | BusinessDesk
Nov.18 (BusinessDesk) – Zespri International, the world’s largest marketer of kiwifruit, has been fined half a million dollars for anti competitive behavior in the Korean market. More >>
MONEY TALKS: Sir Ron’s last foray should attract the curious
Friday, 18 November 2011, 3:59 pm | BusinessDesk
Never say never, but this surely has to be Sir Ron Brierley’s last crusade. More >>
Transpower launches $200 million bond offer
Friday, 18 November 2011, 2:07 pm | BusinessDesk
Nov. 18 (BusinessDesk) – Transpower New Zealand, owner and operator of the national power grid, is making an offer of up to $200 million of unsecured, unsubordinated bonds. More >>
Midday update: TVNZ boss quits for big role with Telstra
Friday, 18 November 2011, 12:31 pm | BusinessDesk
Nov. 18 (BusinessDesk) – The chief executive of state-owned Television New Zealand, Rick Ellis, is to leave the company for a major role across the Tasman, heading Australian heavyweight telco Telstra’s digital media strategy. Ellis, who has helmed the state ... More >>
Kathmandu lifts sales 16% in 15 weeks ended mid-November
Friday, 18 November 2011, 12:11 pm | BusinessDesk
Nov. 18 (BusinessDesk) - Outdoor clothing and equipment retailer Kathmandu's sales were up 16 percent to $56 million for the 15 weeks ended Nov. 13, though its first-half profit result will be almost entirely dependent on Christmas and January trading, ... More >>
Cavalier flags 50% profit slump in current financial year
Friday, 18 November 2011, 12:06 pm | BusinessDesk
Nov.1 8 (BusinessDesk) – Carpet-maker Cavalier Corp is flagging full-year profits will be as much as 50 percent lower than 2011 on surging wool prices and tepid demand for carpets among Australian residential consumers. More >>
Xero doubles sales in first half; reports $3.7M loss
Friday, 18 November 2011, 11:58 am | BusinessDesk
Nov. 18 (BusinessDesk) – Xero, the cloud-based accounting platform provider, declared a $3.7 million loss despite almost doubling its sales revenue to $7.9 million, for the six months ended Sept. 30. More >>
Labour wants aggressive RBNZ to snare currency speculators
Friday, 18 November 2011, 11:25 am | BusinessDesk
Nov. 18 (BusinessDesk) – A Labour-led government would require the Reserve Bank to target the exchange rate to help exporters and allow “more aggressive” intervention by the central bank to “catch out” currency speculators. More >>
Wakefield discovers and remedies banking covenant breach
Friday, 18 November 2011, 11:10 am | BusinessDesk
Nov. 18 (BusinessDesk) - Wakefield Health said it had discovered a past breach of the shareholders' funds covenant within its agreement with its bankers which has since been remedied. More >>
Rick Ellis leaves TVNZ for top Aussie Telstra role
Friday, 18 November 2011, 11:09 am | BusinessDesk
Nov. 18 (BusinessDesk) – Television New Zealand chief executive Rick Ellis has resigned to take up a job with Australian phone company Telstra, beginning in January. More >>
NZOG appoints director Andrew Knight as new CEO
Friday, 18 November 2011, 10:40 am | BusinessDesk
Nov. 17 (BusinessDesk) – New Zealand Oil & Gas has appointed Andrew Knight, a non-executive director since January 2008, to replace David Salisbury as chief executive from Dec. 1. More >>
GPG hocks off low hanging fruit for 34 mln pounds
Friday, 18 November 2011, 10:27 am | BusinessDesk
Nov. 18 (BusinessDesk) – Guinness Peat Group, the investment company formerly chaired by Sir Ron Brierley, sold off six assets for a total of 34 million pounds through the latter half of the year, and has a further 67 million pounds in the pipeline ... More >>
NZ dollar extends decline on weak Spanish govt bond sale
Friday, 18 November 2011, 9:02 am | BusinessDesk
Nov. 18 (BusinessDesk) – The New Zealand dollar extended its decline as fears over Europe’s ability to meet ballooning debt repayments linger, after a Spanish government bond auction fell short of expectations. The kiwi dollar was at 76.26 US cents just ... More >>
Kerr’s original bid for Pyne Gould panned by adviser
Thursday, 17 November 2011, 6:33 pm | BusinessDesk
Nov. 17 (BusinessDesk) – George Kerr’s Australasian Equity Partners Fund’s bid to seize control of Pyne Gould Corp was at a major discount to the independent adviser’s valuation of the financial services company, and there is “no compelling ... More >>
MARKET CLOSE: NZ stocks mixed; Fletcher falls, Ryman up
Thursday, 17 November 2011, 6:26 pm | BusinessDesk
Nov. 17 (BusinessDesk) New Zealand shares were mixed . Fletcher Building, the nation's biggest construction company, paced decliners to a new 2 1/2-year low. Retirement village operator Ryman Healthcare rose after posting higher earnings. More >>
NZ dollar slides as European debt woes dominate
Thursday, 17 November 2011, 5:28 pm | BusinessDesk
Nov. 17 (BusinessDesk) – The New Zealand dollar resumed its downward slide in local trading as ongoing fears about European states’ ability to meet their debt repayments overshadowed emerging signs of life in the domestic economy. More >>
