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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 1466]
Tenon launches share buyback offer to cut registry costs
Monday, 14 November 2011, 9:51 am | BusinessDesk
Nov. 14 (BusinessDesk) – Tenon, the NZX-listed company that sells wood mouldings in the US, is offering to buy back shares from investors with a small stake in the company in a bid to cut administrative costs. More >>
NZ dollar extends gain on optimism over Europe
Monday, 14 November 2011, 9:25 am | BusinessDesk
Nov.14 (BusinessDesk) - The New Zealand dollar rose after Italy appointed a leader of a new government to introduce austerity measures that may help contain Europe's debt crisis and limit the damage to global economic growth. More >>
World Week Ahead: Italy’s new leader, US retail sales
Monday, 14 November 2011, 7:11 am | BusinessDesk
Nov. 14 (BusinessDesk) - Italy and Greece are starting this week with something everyone had been waiting for: new leaders empowered to take concrete action towards containing their respective government debt. More >>
MARKET CLOSE: NZ shares gain; Mainfreight leads
Friday, 11 November 2011, 5:34 pm | BusinessDesk
Nov. 11 (BusinessDesk) – New Zealand shares rose, led by transport firm Mainfreight after it posted record first-half earnings yesterday while Fletcher Building fell to a new 2 ½-year low. More >>
NZ dollar gains as market digests Euro news, doubts linger
Friday, 11 November 2011, 5:19 pm | BusinessDesk
Nov. 11 (BusinessDesk) – The New Zealand dollar gained in local trading as markets pondered the ability of new leaders of Greece and Italy to manage their austerity drives and avert default, with lingering doubts about the long-term sustainability ... More >>
NZ Post sells $150 mln of bonds to repay maturing debt
Friday, 11 November 2011, 3:56 pm | BusinessDesk
Nov. 11 (BusinessDesk) - New Zealand Post Group, the state-owned postal service, sold $150 million of bonds under its medium-term note programme to repay maturing debt and for general purposes. More >>
MONEY TALKS: Are property values really creeping back?
Friday, 11 November 2011, 3:31 pm | BusinessDesk
When it comes time for the regular dump of monthly property statistics, you can generally predict the bulk of them will say not only is it a great time to buy, but it’s also a brilliant opportunity to sell. More >>
Alliance omits dividend for 2nd time in decade, sales rise
Friday, 11 November 2011, 12:42 pm | BusinessDesk
Nov. 11 (BusinessDesk) - Alliance Group, the Invercargill-based meat company, has omitted its annual dividend for only the second time in about a decade, saying stock losses, volatility in financial markets and plant costs make it prudent to retain ... More >>
NZ housing recovery still limp in October, REINZ says
Friday, 11 November 2011, 12:41 pm | BusinessDesk
Nov. 11 (BusinessDesk) – New Zealand’s housing market is still limping along as buyers refuse to over-pay for properties, keeping the volume of sales muted. More >>
Midday Update: Warehouse sales rise; FMA eyes profit reports
Friday, 11 November 2011, 12:13 pm | BusinessDesk
Nov. 11 (BusinessDesk) - Warehouse Group sales rose 2.2 percent in first-quarter sales, which the retailer attributed to refurbished stores in the period of the Rugby World Cup. More >>
Sky City reports higher revenue, seeks director fee rise
Friday, 11 November 2011, 12:00 pm | BusinessDesk
Nov. 11 (BusinessDesk) - Sky City Entertainment Group, the casino and hotel operator, said the impact of Rugby World Cup was less than expected but it is still forecasting a rise in annual profit after reporting increased revenue in the first four months ... More >>
NZ food prices fall in October with cheaper produce
Friday, 11 November 2011, 11:24 am | BusinessDesk
Nov. 11 (BusinessDesk) – New Zealand food prices shrank for a third month with in-season fruit and vegetables dragging down prices, according to government data. More >>
DMO chief Combes to be CEO of local government funding body
Friday, 11 November 2011, 11:16 am | BusinessDesk
Nov. 11 (BusinessDesk) - Philip Combes, the treasurer of the New Zealand Debt Management Office, has been tapped as head of the new local authority borrowing agency, which is to be the nation’s second-largest debt issuer after the government. More >>
Spare ribs studied as scientists probe hidden value of sheep
Friday, 11 November 2011, 10:15 am | BusinessDesk
Nov. 11 (BusinessDesk) – New Zealand scientists are to probe the value of what has been an open secret among veterinarians - some sheep have more ribs than others. More >>
FMA clamps down on profit spin doctoring
Friday, 11 November 2011, 9:46 am | BusinessDesk
Nov. 11 (BusinessDesk) - The days of companies highlighting profit numbers that strip out all the bad news could be numbered as the Financial Markets Authority moves along with the Australian regulator to clamp down. More >>
Satara to come under Seeka umbrella in amalgamation plan
Friday, 11 November 2011, 9:37 am | BusinessDesk
Nov. 11 (BusinessDesk) – Kiwifruit grower Satara Cooperative is set to join Seeka Kiwifruit Industries under an amalgamation plan as the industry struggles to come to grips with the outbreak of Pseudomona Syringae pv actinidiae bacteria a year ago. More >>
Warehouse sales rise during Rugby World Cup period
Friday, 11 November 2011, 9:09 am | BusinessDesk
Nov. 11 (BusinessDesk) - Warehouse Group reported a 2.1 percent rise in same-store sales in the 13 weeks ended Oct. 30, a period that included the Rugby World Cup. More >>
‘Vicious circle’ brings European growth to a halt
Friday, 11 November 2011, 8:57 am | BusinessDesk
Nov. 11 (BusinessDesk) – Economic growth in the European Union has ground to a halt, with the “risk of a new recession”, and will not recover before 2013, the latest economic forecast from the European Commission’s Economic and Financial ... More >>
NZ dollar nudges ahead as world markets settle
Friday, 11 November 2011, 8:30 am | BusinessDesk
Nov. 11 (BusinessDesk) – The New Zealand dollar nudged higher in early trading as equity markets, European governments and the Italian bond market began to show some composure amid the region’s ongoing sovereign debt crisis. More >>
MARKET CLOSE: NZ shares join global slide; FBU, STU fall
Thursday, 10 November 2011, 5:52 pm | BusinessDesk
Nov. 10 (BusinessDesk) – New Zealand stocks fell, joining a global slide on speculation surging government bond yields in Italy signal that nation is getting caught in Europe’s debt crisis. Fletcher Building fell to a 2 ½-year low while Steel & Tube Holdings ... More >>
