Scoop has an Ethical Paywall
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 1465]
Strong first half for takeover target Comvita
Tuesday, 15 November 2011, 12:09 pm | BusinessDesk
Nov.15 (BusinessDesk) Honey products company Comvita has announced a stronger than expected first half as directors urge shareholders to reject the $71.6 million offer to buy the company by Cerebos New Zealand. More >>
First half profit drop Infratil, on track for year
Tuesday, 15 November 2011, 11:24 am | BusinessDesk
Nov. 15 (BusinessDesk) – Tax-paid profit at infrastructure investor Infratil fell 11.6 percent to $88.8 million in the six months to Sept. 30, reflecting the impact of higher interest and depreciation costs and a smaller increase in revaluations ... More >>
Key Fonterra executive resigns
Tuesday, 15 November 2011, 10:36 am | BusinessDesk
Nov. 15 (BusinessDesk) Fonterra Cooperative Group, New Zealand's biggest company by sales, has announced the resignation of its managing director of global ingredients and foodservice, Andrei Mikhalevsky. More >>
NZX stoush with Clear grain exchange hits the courts
Tuesday, 15 November 2011, 10:30 am | BusinessDesk
Nov. 15 (BusinessDesk) – NZX’s suit against the founders of the Clear Grain Exchange began in the High Court in Wellington today as Australians Grant Thomas and Dominic Pym seek to quash the stock exchange operator’s application. More >>
Rakon blames high kiwi for first-half loss, shares hit low
Tuesday, 15 November 2011, 10:21 am | BusinessDesk
Nov. 15 (BusinessDesk) - Crystal timing devices manufacturer Rakon is blaming the high New Zealand dollar for its $3.5 million bottom line first-half loss. More >>
PGG Wrightson to open Beijing office
Tuesday, 15 November 2011, 9:45 am | BusinessDesk
Nov. 15 (BusinessDesk) New Zealand's largest agricultural services company, PGG Wrightson, has announced it will open an office in Beijing office, with its China-based parent company Agria Corporation. More >>
NZ dollar tumbles after Italy pays high price to borrow
Tuesday, 15 November 2011, 9:09 am | BusinessDesk
Nov. 15 (Business Desk) - The New Zealand dollar tumbled almost 1 US cent after Italy was forced to pay the highest yield since 1997 on government bonds, renewing fears that Europe has a way to go to contain its debt crisis. More >>
Maturing NZ government bonds will see $7.6B looking for home
Monday, 14 November 2011, 5:55 pm | BusinessDesk
Nov. 14 (BusinessDesk) – A flood of government money is due in New Zealand with the maturity of the Nov. 15 government bonds, of which there are some $7.6 billion in the market out of a total on issue of $8.78 billion. More >>
Ironbridge’s EnviroWaste lifts earnings 6%, no word on exit
Monday, 14 November 2011, 5:42 pm | BusinessDesk
Nov. 14 (BusinessDesk) – EnviroWaste Services, posted a 6 percent gain in annual earnings and said it expects a further increase this year, though the waste management firm’s private equity owner Ironbridge Capital is coy about an exit timeframe. More >>
MARKET CLOSE: NZ shares fall; Telecom punished for downgrade
Monday, 14 November 2011, 5:28 pm | BusinessDesk
Nov. 14 (BusinessDesk) – New Zealand shares fell, led by Telecom after Standard & Poor’s acted on its warning to downgrade the phone company’s credit rating upon confirmation it will split in two. Kathmandu led gains in retailers after a ... More >>
NZ dollar pares gains from retail sales
Monday, 14 November 2011, 5:18 pm | BusinessDesk
Nov. 14 (BusinessDesk) – The New Zealand pared gains from unexpectedly strong third-quarter retail sales as investors overcame their initial optimism ahead of the first Italian government bond auction under a new administration. More >>
Frazis gets 2nd-biggest pay packet among Westpac execs
Monday, 14 November 2011, 4:43 pm | BusinessDesk
Nov. 14 (BusinessDesk) – Westpac New Zealand’s chief George Frazis scooped the second-biggest pay packet among the Australasian banking group’s executives after picking up A$1.93 million in bonuses from earlier years. More >>
Auckland Council rating may be cut by S&P on transport plans
Monday, 14 November 2011, 3:29 pm | BusinessDesk
Auckland Council rating may be cut by S&P on plans for debt-funded transport spend-up More >>
Sale or license of patents is good way to extract more value
Monday, 14 November 2011, 3:19 pm | BusinessDesk
Nov. 14 (BusinessDesk) – New Zealand businesses are almost totally ignoring the option of selling and licensing patents overseas, but it is a legitimate way to extract extra value from research and development. More >>
Commercialising ideas is a road pitted by failures
Monday, 14 November 2011, 3:17 pm | BusinessDesk
Nov. 14 (BusinessDesk) – The route that most companies take to commercialising new ideas is almost fated to failure. More >>
NZ Dollar Outlook: Kiwi's direction clouded by Europe crisis
Monday, 14 November 2011, 12:49 pm | BusinessDesk
Nov.14 (BusinessDesk) - The New Zealand dollar’s direction this week is likely to be dominated by further developments in Europe as the region battles to contain its debt crisis and investors take heart in new leadership for Italy and Greece. More >>
MIDDAY UPDATE: Local retailers get World Cup boost
Monday, 14 November 2011, 12:27 pm | BusinessDesk
Nov. 14 (BusinessDesk) – Local retailers got a boost from the influx of tourists here for the Rugby World Cup, according to government data. More >>
NZ services sector narrowly avoids contract, PSI shows
Monday, 14 November 2011, 11:41 am | BusinessDesk
Nov. 14 (BusinessDesk) - The services sector only just made it into positive territory in October and the Rugby World Cup's (RWC) impact was probably negative overall as consumer dollars headed in that direction as opposed to other sectors of the economy, ... More >>
Telecom NZ credit rating cut to A- by S&P on Chorus demerger
Monday, 14 November 2011, 11:25 am | BusinessDesk
Nov. 14 (BusinessDesk) –Telecom Corp.’s long-term credit rating was cut one notch by Standard & Poor’s to reflect the demerger of the company’s Chorus business and the loss of its network revenues. More >>
NZ retail spending grows 2.1% in 3rd-qtr on Rugby World Cup
Monday, 14 November 2011, 10:56 am | BusinessDesk
Nov. 14 (BusinessDesk) – New Zealand retail spending grew at its fastest quarterly pace since December 2006 as the inflow of tourists for the Rugby World Cup bolstered consumer demand. The kiwi dollar gained on the report. More >>
