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Independent, Trustworthy New Zealand Business News
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BusinessDesk - Latest News [Page 1469]
Trade Me float priced at $2.70 a share, new debt flagged
Tuesday, 8 November 2011, 12:08 pm | BusinessDesk
Trade Me float priced at $2.70 a share, will take on $166 mln new debt More >>
MIDDAY UPDATE: Trade Me IPO price set at $2.70
Tuesday, 8 November 2011, 12:05 pm | BusinessDesk
Nov. 8 (BusinessDesk) – Australian media group Fairfax Media has set the initial public offering price for its partial float of Trade Me at $2.70 a share, the top end of its $2.30-to-$2.70 indicative range, raising $363 million. More >>
Open Country says Kotahi won't attract big ships
Tuesday, 8 November 2011, 11:39 am | BusinessDesk
Nov. 8 (BusinessDesk) - A container freight alliance advocated by Fonterra Cooperative Group won’t bring forward the arrival of larger container ships to New Zealand, Open Country Dairy says. More >>
Telecom to offer iPhones direct to retail customers
Tuesday, 8 November 2011, 11:12 am | BusinessDesk
Nov. 8 (BusinessDesk) – Telecom will start selling iPhones to its retail customers direct this month, stepping up rivalry with Vodafone for the latest generation of smart phones. More >>
Fairfax takes $220M dividend from Trade Me to cancel debt
Tuesday, 8 November 2011, 9:56 am | BusinessDesk
Nov. 8 (BusinessDesk) – Fairfax Media took a $220 million dividend from Trade Me in its final year of full ownership to pay down related-party debt before the sale of a third of the online auction site in an initial public offer, according to its ... More >>
Torchlight was the buyer of land at Jacks Point
Tuesday, 8 November 2011, 9:22 am | BusinessDesk
Nov. 8 (BusinessDesk) – Torchlight, the distressed asset management company run by George Kerr, was the buyer of land in a recently announced approval from the Overseas Investment Office, Pyne Gould Corp has confirmed. More >>
NZ dollar eases as concerns about Italy rise
Tuesday, 8 November 2011, 8:16 am | BusinessDesk
Nov. 8 (BusinessDesk) – The New Zealand dollar pared gains as investors ask if Italy can afford to service its debt as the European sovereign debt saga continues. More >>
SMELLIE ON SMEs: Using a lawyer
Monday, 7 November 2011, 11:54 pm | BusinessDesk
Nov. 7 (BusinessDesk) – There are few things in the life of a small business more likely to chew up forecast profits than having to spend time with a lawyer. A good lawyer will set you back $200 an hour or more, so every second you spend with them ... More >>
Mighty River signs geothermal development agreements
Monday, 7 November 2011, 5:49 pm | BusinessDesk
Nov. 7 (BusinessDesk) - The government-owned Mighty River Power electricity retailer and generator said it has signed agreements with two Maori landowners to investigate and develop a geothermal power station on the Taheke field, 20 kilometres North East ... More >>
MARKET CLOSE: NZX50 gains as Trade Me float process begins
Monday, 7 November 2011, 5:45 pm | BusinessDesk
Nov. 7 (BusinessDesk) – New Zealand shares rose, bucking downbeat regional markets, amid tepid trading as investors focused on the Trade Me initial public offering and two new bond issues coming to market. NZX led the market higher. More >>
NZ dollar pares gains as European focus shifts to Italy
Monday, 7 November 2011, 5:10 pm | BusinessDesk
Nov. 7 (BusinessDesk) – The New Zealand dollar gave up gains during the session to finish on a weak note heading into an overnight session where concerns about Europe are turning to Italy. More >>
Salvus to return $17M from disposal of assets
Monday, 7 November 2011, 3:17 pm | BusinessDesk
Nov. 7 (BusinessDesk) - Salvus Strategic Investments will distribute $17 million in cash to its shareholders after they voted to wind up and liquidate the investment group. More >>
Goodman Fielder refinances A$500 mln bank facility
Monday, 7 November 2011, 2:52 pm | BusinessDesk
Nov. 7 (BusinessDesk) – Goodman Fielder, the food company once owned by kiwi billionaire Graeme Hart, has refinanced an A$500 million bank facility through a new arrangement with Australian and global banks. More >>
NPT 1H loss narrows, says likely to abandon Natcoll House
Monday, 7 November 2011, 2:25 pm | BusinessDesk
Nov. 7 (BusinessDesk) – NPT, the property company that used to be National Property Trust, reported a narrower first-half net loss on write-downs of a portfolio that includes two earthquake-damaged sites in Christchurch. More >>
IAG sets 7.5% coupon for up to $250M of 2036 reset bonds
Monday, 7 November 2011, 1:36 pm | BusinessDesk
IAG sets 7.5% coupon for sale of up to $250M of 2036 reset bonds More >>
Abano flags weaker first-half net on charges; revenue gains
Monday, 7 November 2011, 1:22 pm | BusinessDesk
Nov. 7 (BusinessDesk) – Abano Healthcare, which invests in specialist health clinics, expects weaker first-half profit on administrative charges, even as its boosts sales by as much as 19 percent. More >>
Trade Me float bookbuild starts
Monday, 7 November 2011, 12:23 pm | BusinessDesk
Nov. 7 (BusinessDesk) - A bookbuild designed to set allocations and pricing for the partial float online auction company Trade Me is under way. More >>
MIDDAY UPDATE: Kiwi creeps higher on Greek deal
Monday, 7 November 2011, 12:15 pm | BusinessDesk
Nov. 7 (BusinessDesk) – The New Zealand rose by about half 1 US cent in trading this morning after Greek policymakers agreed to form a united government to broker the international aid that will prevent the heavily indebted Mediterranean nation ... More >>
Pacific Edge’s obtains European patent
Monday, 7 November 2011, 11:33 am | BusinessDesk
Nov. 7 (BusinessDesk) – Dunedin-based biomedical company Pacific Edge has added to its intellectual property suite with a highly sought-after European patent awarded for its gastric cancer detection technology. More >>
NZECO guarantees to be widened to include yuan
Monday, 7 November 2011, 11:28 am | BusinessDesk
Nov. 7 (BusinessDesk) - The New Zealand Export Credit Office, which provides guarantees to exporters and banks in the event of defaults on contracts, is to widen its criteria to include the yuan, a reflection of China’s increasing importance. More >>
