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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 1474]
World Week Ahead: More earnings and the Fed
Monday, 31 October 2011, 8:07 am | BusinessDesk
Oct. 31 (BusinessDesk) - Halloween is likely to be a lot less spooky than it appeared to be mere days ago with October set to close as the best performing month for Wall Street in decades. More >>
MARKET CLOSE: NZ shares rise as AGMs throw up mixed messages
Friday, 28 October 2011, 5:43 pm | BusinessDesk
Oct. 28 (BusinessDesk) - New Zealand shares rose as more companies addressed their shareholders at annual meetings. Freightways rose to a four-month high after flagging higher profits at their annual meeting yesterday. Sanford fell after saying a high ... More >>
NZ dollar slips under82 US cts as rally on Europe peters out
Friday, 28 October 2011, 5:16 pm | BusinessDesk
Oct. 28 (BusinessDesk) – The New Zealand dollar fell below 82 US cents in local trading after the relief rally on European policymakers cutting a deal they hope will fix the region’s banking system and stop Greece’s sovereign indebtedness ... More >>
Fletcher appoints Tim Richards as building products head
Friday, 28 October 2011, 3:41 pm | BusinessDesk
Oct. 28 (BusinessDesk) - Fletcher Building, New Zealand's largest construction company, has appointed Tim Richards as chief executive of its building products division. More >>
Gas disruption insurance rarely includes Maui pipeline
Friday, 28 October 2011, 3:40 pm | BusinessDesk
Oct. 28 (BusinessDesk) – Businesses expecting to claim on business interruption insurance policies for losses caused by this week’s Maui gas pipeline break may be in for a “rude awakening”, says veteran insurance risk consultant John Sloan. More >>
Sanford profit falls as much as 12% on strong kiwi
Friday, 28 October 2011, 3:30 pm | BusinessDesk
Oct. 28 (BusinessDesk) – Sanford, the fishing company, said annual profit fell as much as 12 percent, reflecting the impact of a strong New Zealand dollar on export returns and a lower Pacific tuna catch. More >>
MONEY TALKS: Never mind the pension, here’s a rate cut
Friday, 28 October 2011, 2:34 pm | BusinessDesk
Oct. 28 (BusinessDesk) – Okay, I admit it, I was entranced by the Labour Party’s savings policy yesterday. More >>
Midday update: Hotels, buildings, shopping centres get gas
Friday, 28 October 2011, 12:20 pm | BusinessDesk
Oct. 28 (BusinessDesk) – Emergency managers of natural gas supplies to the upper North Island are becoming more confident a repair will be finished in the next two or three days, and are letting about 1,000 commercial and industrial users back onto ... More >>
Second container ship grounds near Port of Tauranga
Friday, 28 October 2011, 11:52 am | BusinessDesk
Oct. 28 (BusinessDesk) - A second container vessel has grounded near Port of Tauranga but has been safely secured. More >>
KiwiRail proposes $6 bln writedown of assets
Friday, 28 October 2011, 11:45 am | BusinessDesk
Oct. 28 (BusinessDesk) – KiwiRail, the state-owned railroad, has proposed writing down its assets by $6 billion, halving their current value which is too high given the commercial realities of the business. More >>
Pyne Gould’s Mogridge to step down from Heartland board
Friday, 28 October 2011, 11:24 am | BusinessDesk
Oct. 28 (BusinessDesk) – Pyne Gould chairman Bryan Mogridge is withdrawing as a candidate for re-the board of Heartland New Zealand as controversy swirls around a takeover bid for PGC by cornerstone shareholders George Kerr and Baker Street Capital. More >>
UPDATE: Seeka flags lower profit on Psa
Friday, 28 October 2011, 11:06 am | BusinessDesk
Oct. 28 (BusinessDesk) - Seeka Kiwifruit Industries, the country’s biggest kiwifruit grower, is forecasting lower earnings from fruit as the Pseudomona Syringae pv actinidiae bacteria ravages more kiwifruit orchards. More >>
Receiver rejects bids for Allied Nationwide loans
Friday, 28 October 2011, 10:42 am | BusinessDesk
Oct. 28 (BusinessDesk) – Allied Nationwide Finance, the failed finance arm of Allied Farmers, has failed to attract good enough bids for its loan book, receivers say, as they try to claw back funds to repay the government retail deposit guarantee scheme. More >>
Nuplex to buy Bayer MaterialScience’s Viverso
Friday, 28 October 2011, 10:04 am | BusinessDesk
Oct. 28 (BusinessDesk) – Nuplex Industries agreed to acquire Bayer MaterialScience’s Viverso for 75 million euros, adding resins production in Germany and helping lift 2012 earnings by about 10 percent. More >>
Seeka flags lower profit on Psa, complies with bank covenant
Friday, 28 October 2011, 9:38 am | BusinessDesk
Oct. 28 (BusinessDesk) - Seeka Kiwifruit Industries, the country’s biggest kiwifruit grower, is forecasting a fall in profit and a cut in asset values when they are assessed in December as the Pseudomona Syringae pv actinidiae bacteria ravages more kiwifruit ... More >>
Record gold price offsets lower production, costs for OGC
Friday, 28 October 2011, 8:50 am | BusinessDesk
Oct. 28 (BusinessDesk) – Record world prices for gold offset higher costs, adverse exchange rate movements and reduced extraction rates at its two South Island mining sites for OceanaGold Corporation in the three months to Sept. 30. More >>
NZ dollar extends gains on European debt crisis deal
Friday, 28 October 2011, 8:19 am | BusinessDesk
Oct. 28 (BusinessDesk) – The New Zealand dollar surged nearly two US cents after Europe came up with a three-pronged economic plan good enough to placate markets and courted China for support. More >>
MARKET CLOSE: NZ shares rise; NZ Oil & Gas, Freightways gain
Thursday, 27 October 2011, 5:59 pm | BusinessDesk
Oct. 27 (BusinessDesk) - New Zealand shares rose, led by companies giving upbeat messages to shareholders during annual meeting season, including NZ Oil & Gas, Freightways and Port of Tauranga. More >>
Weak sales and quake strengthening keep Kirk's in the red
Thursday, 27 October 2011, 5:42 pm | BusinessDesk
Oct. 27 (BusinessDesk) – Wellington department store owner Kirkcaldie & Stains was unprofitable for a second year in its retail activities, while the cost of strengthening its Harbour City Building knocked earnings in its property arm. More >>
Port of Tauranga 1Q earnings rise 16%, FY earnings on target
Thursday, 27 October 2011, 5:37 pm | BusinessDesk
Oct. 27 (BusinessDesk) - Port of Tauranga, the nation's biggest export port, said first-quarter earnings rose 16 percent, putting it on track to meet analyst estimates for the full-year of $64 million to $67 million. More >>
