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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 1467]
NZ dollar drops below 78 US cts on Italian debt risks
Thursday, 10 November 2011, 5:30 pm | BusinessDesk
NZ dollar drops below 78 US cents as Italian debt risk sends shivers up investors’ spines More >>
2degrees shareholders dip into their pockets again
Thursday, 10 November 2011, 4:37 pm | BusinessDesk
Nov. 10 (BusinessDesk) – Shareholders in Two Degrees Mobile have dipped into their pockets again, pumping a further US$11 million into the country’s newest mobile phone operator last month. More >>
NZ Labour Dept lays charges over fatal Pike River explosions
Thursday, 10 November 2011, 3:32 pm | BusinessDesk
Nov. 10 (BusinessDesk) – The Department of Labour has laid 25 charges against three unnamed parties relating to health and safety failures resulting in the explosions at the Pike River coal mine last year that killed 29 miners. More >>
Former Datasouth director Gavin Bennett charged with fraud
Thursday, 10 November 2011, 3:15 pm | BusinessDesk
Nov. 10 (BusinessDesk) – Former Datasouth director Gavin Bennett has been charged over a $103 million fraud, including $65 million allegedly obtained from the failed South Canterbury Finance using false documents. More >>
NZ consumer confidence falls for 3rd month amid global fears
Thursday, 10 November 2011, 3:13 pm | BusinessDesk
Nov. 10 (BusinessDesk) – New Zealand consumer confidence fell for a third month as household sentiment was clouded by instability in global financial markets, eroding optimism associated with the Rugby World Cup. More >>
Sam Morgan, David Wright, Rob Fyfe increase stakes in Ecoya
Thursday, 10 November 2011, 2:16 pm | BusinessDesk
Nov. 10 (BusinessDesk) – Trade Me founder Sam Morgan and Max clothing chain founder David Wright have increased their holdings in Ecoya, the scented candle and skin-care products company, through a $1.15 million placement of new shares. More >>
Steel & Tube sees difficult trading continuing
Thursday, 10 November 2011, 12:33 pm | BusinessDesk
Nov. 10 (BusinessDesk) - Steel building products seller Steel & Tube sees no let up in difficult trading conditions it has experienced in the first four months of its financial year and is signaling a decline in first-half profit. More >>
S&P cuts NZ's banking industry score to ‘three’ from ‘two'
Thursday, 10 November 2011, 12:05 pm | BusinessDesk
Nov. 10 (BusinessDesk) - Standard & Poor's has revised its view of the New Zealand banking industry to three out of ten from two on a scale where one is the strongest, putting it on a par with Italy, Korea, the UK and the US. More >>
MIDDAY UPDATE: GPG to sell T&G stake to Germans
Thursday, 10 November 2011, 12:01 pm | BusinessDesk
Nov. 10 (BusinessDesk) – Investment company Guinness Peat Group has agreed to sell its 63 percent stake in fruit marketer Turners & Growers to German agriculture group BayWa AG for some $137.4 million. More >>
BayWa to buy GPG stake in Turners & Growers, make full offer
Thursday, 10 November 2011, 11:48 am | BusinessDesk
Nov. 10 (BusinessDesk) – Germany’s BayWa AG agreed to buy Guinness Peat Group’s 63.5 percent stake in Turners & Growers for $137.4 million and made a full takeover offer for the fruit and vegetable marketer. More >>
NZ manufacturing sector contracted in October
Thursday, 10 November 2011, 11:31 am | BusinessDesk
Nov. 10 (BusinessDesk) - The New Zealand manufacturing sector contracted in October to its worst level since June 2009 as the Rugby World Cup distracted business and the construction sector ebbed. More >>
NZ accommodation rise 0.3% in September on RWC visitors
Thursday, 10 November 2011, 11:23 am | BusinessDesk
Nov.10 (BusinessDesk) – Overseas visitors drove growth in guest nights in September, thanks to the draw card of the Rugby World Cup, while changes to the timing of school holidays kept locals at home. More >>
UPDATED: Mainfreight record profit allows dividend boost
Thursday, 10 November 2011, 11:05 am | BusinessDesk
Nov. 10 (BusinessDesk) – Mainfreight, the logistics company, reported a 77 percent increase in interim profit that allowed it to increase its dividend by a quarter. More >>
NZ operating deficit worse-than-forecast $2.5B in 1st qtr
Thursday, 10 November 2011, 10:48 am | BusinessDesk
NZ operating deficit worse-than-forecast $2.5B in 1st qtr on lower tax take More >>
Reserve Bank says NZ dollar will struggle to gain
Thursday, 10 November 2011, 10:12 am | BusinessDesk
Nov.10 (BusinessDesk) – The New Zealand dollar, which has fallen to a month-low, will struggle to make gains amid current global financial market uncertainty, says Reserve Bank deputy governor Grant Spencer. More >>
Mainfreight first-half dividend rises as profit soars
Thursday, 10 November 2011, 9:22 am | BusinessDesk
Nov. 10 (BusinessDesk) - Mainfreight has increased its interim dividend by a quarter after posting a 77 percent increase in first-half profit. More >>
Insurers face claims of $30B from Christchurch quakes: RBNZ
Thursday, 10 November 2011, 9:14 am | BusinessDesk
Nov. 10 (BusinessDesk) – Insurers are expecting claims worth some $30 billion and counting from the Canterbury earthquakes that levelled parts of the nation’s biggest city and killed 181 people, the Reserve Bank says. More >>
Reserve Bank gives banks more time to beef up core funding
Thursday, 10 November 2011, 9:08 am | BusinessDesk
Nov. 10 (BusinessDesk) – The Reserve Bank of New Zealand has given local lenders an extra six months to meet an increased target for their core funding ratio as global market turmoil puts the brakes on banks’ ability to tap offshore markets for long-term ... More >>
NZ dollar falls as equity markets plunge on Italian concerns
Thursday, 10 November 2011, 8:44 am | BusinessDesk
Nov. 10 (BusinessDesk) – The New Zealand dollar fell more than a US cent as investors spurned risky assets when a spike higher in Italian bond yields triggered a sell-off in US equities. More >>
Trade Me prospectus forecasts 12% revenue growth in 2012
Wednesday, 9 November 2011, 6:35 pm | BusinessDesk
Nov. 9 (BusinessDesk) – Trade Me is forecasting 12 percent growth in its revenue streams in its offer document for investors to buy 34 percent of the online auction. More >>
