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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 1463]
Spread of Psa underlines urgency of Seeka, Satara merger
Thursday, 17 November 2011, 4:56 pm | BusinessDesk
Nov. 17 (BusinessDesk) – The kiwifruit industry is losing “significant tray volumes” to the vine-wasting disease Psa and a merger between Satara Cooperative and Seeka Kiwifruit Industries would give growers the scale to fight back, shareholders were ... More >>
Kerr ups offer for Pyne Gould by 12%
Thursday, 17 November 2011, 4:20 pm | BusinessDesk
Nov. 17 (BusinessDesk) – George Kerr’s Australasian Equity Partners Fund has lifted its offer for Pyne Gould Corp by12 percent after talks with institutional investors. More >>
Goodman Fielder to close Rotorua plant, eyes A$100M savings
Thursday, 17 November 2011, 4:19 pm | BusinessDesk
Nov. 17 (BusinessDesk) – Trans-Tasman food giant Goodman Fielder said it is targeting achieving A$100 million in ongoing cost savings over the next four years and plans to close its plant in Rotorua as part of the measures. More >>
Silver Fern Farms posts full-year operating profit
Thursday, 17 November 2011, 1:09 pm | BusinessDesk
Nov. 17 (BusinessDesk) - Silver Fern Farms, the biggest South Island meat company, turned to a full-year operating surplus, from a year-earlier loss, as it benefited from sales growth driven by higher prices for red meat. More >>
NZ producer input prices rise at slowest pace in two years
Thursday, 17 November 2011, 12:49 pm | BusinessDesk
NZ producer input prices rise at slowest pace in almost two years, inflation still in check More >>
Energy Mad posts maiden loss, on track against IPO forecast
Thursday, 17 November 2011, 12:43 pm | BusinessDesk
Energy Mad posts maiden $0.3m first-half loss; on track to deliver IPO forecast More >>
Midday update: Spotless directors spurn PEP bid
Thursday, 17 November 2011, 12:39 pm | BusinessDesk
Nov. 17 (BusinessDesk) – Lightly traded dual-listed property services group Spotless is the subject of a 100 percent takeover offer from Australian private investor Pacific Equity Partners at $A$2.63 in cas per share, a 12 percent premium to its last traded ... More >>
NZ bond yields lower than depths of GFC on Europe fears
Thursday, 17 November 2011, 12:24 pm | BusinessDesk
Nov. 17 (BusinessDesk) – New Zealand government bond yields have fallen below the levels plumbed in the depths of the global financial crisis as overseas investors flee from the European sovereign bond market. More >>
Ryman posts 15% gain in first-half earnings on sales growth
Thursday, 17 November 2011, 12:05 pm | BusinessDesk
Nov. 17 (BusinessDesk) - Ryman Healthcare, New Zealand’s largest retirement village operator, posted a 15 percent gain in first-half profit after speeding up its building programme. The company affirmed its guidance for full-year earnings growth. More >>
Regulator erred in setting TSO, Supreme Court rules
Thursday, 17 November 2011, 11:41 am | BusinessDesk
Nov. 17 (BusinessDesk) – The Commerce Commission made an error in law in the way it set the levies for Telecom’s unprofitable rural phone services, the Supreme Court ruled today. More >>
DNZ boosts 1H earnings by a third, flags bigger dividend
Thursday, 17 November 2011, 11:05 am | BusinessDesk
Nov. 17 (BusinessDesk) – DNZ Property Fund, which corporatised and listed on the NZX last year, boosted first-half distributable earnings by a third as it cut interest costs and had fewer management fees, allowing it to flag a higher dividend. More >>
Fonterra chairman van der Heyden to step down
Thursday, 17 November 2011, 11:01 am | BusinessDesk
Van der Heyden to step down as Fonterra chairman, Ralph Norris tapped to join board More >>
From the Farm: National or ACT?
Thursday, 17 November 2011, 9:46 am | BusinessDesk
Federated Farmers president Bruce Wills says the looming election "offers the clearest policy choice since arguably 1984." The farm lobby group is apolitical, he says. "We don't care who is in power, as long as they agree with Federated ... More >>
NZ dollar recovers as new Italian govt sworn in
Thursday, 17 November 2011, 9:04 am | BusinessDesk
Nov. 17 (BusinessDesk) - The New Zealand dollar climbed from a six-week low after Italian President Giorgio Napolitano swore in a new technocrat government to help tackle the European debt crisis, bolstering confidence the region will be able to ... More >>
NZ dollar extends decline from four-week low
Wednesday, 16 November 2011, 5:44 pm | BusinessDesk
Nov. 16 (BusinessDesk) – The New Zealand dollar extended its decline to new four-week lows as concerns about European nations’ ability to service their debt trumped a better-than-expected pick-up in dairy prices on Fonterra Cooperative’s online ... More >>
MARKET CLOSE: NZ shares fall; Fletcher drops after AGM
Wednesday, 16 November 2011, 5:40 pm | BusinessDesk
MARKET CLOSE: NZ shares fall; Fletcher drops to 2 1/2-year low, Tower climbs More >>
Brierley poised to take control of ASX-listed India Equities
Wednesday, 16 November 2011, 5:02 pm | BusinessDesk
Nov. 16 (BusinessDesk) – Ron Brierley, the former chairman of Guinness Peat Group, is poised to take control of ASX-listed India Equities Fund in an A$8.3 million placement that will give him control of the company. More >>
NZ to benefit from Asia Pacific trade deals, English says
Wednesday, 16 November 2011, 3:34 pm | BusinessDesk
Nov. 16 (BusinessDesk) – New Zealand’s trade aspirations are well-served by the sudden interest in expanding trade agreements in the Asia Pacific region, and is a consequence of the global downturn and sovereign debt woes facing Europe, says ... More >>
West Coast tops economic growth for the September quarter
Wednesday, 16 November 2011, 3:01 pm | BusinessDesk
Nov.16 (BusinessDesk) - The West Coast remains the country's top ranked region for annual economic growth since December 2010, tied with the Auckland region. The region experienced 2 percent growth in the September quarter according to the National Bank's ... More >>
No material improvement in Fletcher Building trading: Waters
Wednesday, 16 November 2011, 1:08 pm | BusinessDesk
Nov. 16 (BusinessDesk) – Fletcher Building chairman Ralph Waters says Australasia’s biggest building materials company sees no material improvement in trading in any market except Asia in the first half of 2012, with a risk of a further downgrade ... More >>
