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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 1472]
Hellaby targets ‘bolt-on’ acquisitions in Australia
Wednesday, 2 November 2011, 5:24 pm | BusinessDesk
Nov. 2 (BusinessDesk) - Investment company Hellaby Holdings is ready to loosen its purse-strings to buy “bolt-on” businesses, likely in Australia. More >>
From the Farm: Falling prices in perspective
Wednesday, 2 November 2011, 3:42 pm | BusinessDesk
Commodity dairy prices have fallen in nine out of the past 10 fortnightly sales run by Fonterra. More >>
Nuplex may replace some bank debt with 1st issue of US bonds
Wednesday, 2 November 2011, 12:44 pm | BusinessDesk
Nuplex may replace some bank debt with first issue of bonds in US private placement market More >>
Midday update: Kiwi dollar falls to 2-wk low on Greek shock
Wednesday, 2 November 2011, 12:09 pm | BusinessDesk
Nov. 2 (BusinessDesk) – The New Zealand dollar fell to a two-week low after Greek Prime Minister George Papandreou, facing an increasingly angry population, proposed a referendum on belt-tightening measures to secure more bailout funds. More >>
Westpac NZ outperforms parent as FY earnings climb 41%
Wednesday, 2 November 2011, 11:20 am | BusinessDesk
Nov. 2 (BusinessDesk) – Westpac Banking’s New Zealand unit continued to outperform its Australian parent, getting praise as a business highlight in the lender’s overall result with a 41 percent boost in cash earnings. More >>
Small power retailers dealt to again, says Pulse Utilities
Wednesday, 2 November 2011, 11:15 am | BusinessDesk
Oct. 31 – Small, independent electricity retailers are the losers under new Electricity Authority rules governing the pre-payments that local electricity network monopolies can levy before allowing power to be sold on their network. More >>
Metlifecare to raise $45.5M; Retirement Village sells down
Wednesday, 2 November 2011, 11:05 am | BusinessDesk
Metlifecare to raise up to $45.5M in equity; Retirement Village to sell down stake More >>
Pyne Gould shareholders grumble in directors’ election vote
Wednesday, 2 November 2011, 10:43 am | BusinessDesk
Nov. 2 (BusinessDesk) – Unhappy Pyne Gould Corp shareholders let their feelings be known at yesterday’s annual meeting, with about a quarter of the votes cast opposing the appointments of two directors. More >>
New Zealand dollar falls amid renewed fears over Europe
Wednesday, 2 November 2011, 8:18 am | BusinessDesk
Nov. 2 (BusinessDesk) - The New Zealand dollar fell as investors' appetite for riskier, or higher yielding, assets after Greece decided to put the latest euro zone bailout package to a referendum, eroding support for the euro and pushing stocks on Wall ... More >>
Fonterra dairy product prices resume slide, fall 1.2%
Wednesday, 2 November 2011, 8:04 am | BusinessDesk
Nov. 2 (BusinessDesk) – Average prices of dairy products resumed their slide in Fonterra Cooperative Group’s latest auction, the ninth decline in the past 10 sales and the first since the company cut its forecast 2012 payout. More >>
MARKET CLOSE: NZ shares gain; NZ Oil & Gas rises on buyback
Tuesday, 1 November 2011, 6:03 pm | BusinessDesk
Nov. 1 (BusinessDesk) - New Zealand shares rose, with NZ Oil & Gas gaining to a six-week high after announcing a stock buyback. Pyne Gould Corp. rose after the company said a George Kerr-led group wanted to hurry up with a takeover. More >>
RBA cuts key rate a quarter point to 4.5% as inflation eases
Tuesday, 1 November 2011, 5:30 pm | BusinessDesk
Australia's central bank cuts key rate a quarter point to 4.5% as inflation eases More >>
NZ dollar gains vs. Australian dollar as RBA cuts cash rate
Tuesday, 1 November 2011, 5:29 pm | BusinessDesk
NZ dollar gains again Aust dollar as RBA cuts cash rate a quarter-point to 4.5% More >>
NZ Oil & Gas shares rise to 6-week high on buyback plan
Tuesday, 1 November 2011, 2:50 pm | BusinessDesk
NZ Oil & Gas shares rise to 6-week high on plan to buyback 2.5% of stock More >>
Kerr accelerates Pyne Gould takeover bid
Tuesday, 1 November 2011, 1:38 pm | BusinessDesk
Nov. 1 (BusinessDesk) – Pyne Gould Corp cornerstone shareholders George Kerr and Baker Street Capital are speeding up their $47.2 million bid to seize control of the company, and will sent out their takeover documents in a couple of days. More >>
NZ commodity prices have biggest drop since Feb 2009
Tuesday, 1 November 2011, 1:30 pm | BusinessDesk
Nov. 1 (BusinessDesk) – New Zealand commodity prices had the biggest monthly decline since February 2009, rounding out the fifth consecutive slide, led by dairy products and kiwifruit. More >>
Summerset debuts at 3.6% above IPO price
Tuesday, 1 November 2011, 12:32 pm | BusinessDesk
Nov. 1 (BusinessDesk) – Summerset Group, the country’s third biggest retirement village operator, has debuted on the stock exchange 3.6 percent above its initial public offering price. More >>
NZ Treasury hires Australia's Lazard for asset sale advice
Tuesday, 1 November 2011, 12:23 pm | BusinessDesk
Nov. 1 (BusinessDesk) - The New Zealand Treasury has appointed Australian investment banking firm Lazard Pty as an independent adviser for asset sales. More >>
MIDDAY UPDATE: Wage inflation holds at 0.5% in third quarter
Tuesday, 1 November 2011, 12:17 pm | BusinessDesk
Nov. 1 (BusinessDesk) - New Zealand private sector wage inflation held unchanged in the third quarter, with the rate of growth unlikely to be enough to spur the Reserve Bank to quicken its interest rate increases. More >>
Briscoe thanks RWC for 9.2% 3Q sales lift
Tuesday, 1 November 2011, 11:22 am | BusinessDesk
Nov. 1 (BusinessDesk) - A ‘sensational’ performance from the Rebel Sports stores as a result of the Rugby World Cup helped lift Briscoe Group's third quarter sales 9.2%. More >>
