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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 1476]
MARKET CLOSE: NZ shares regain ground to finish higher
Wednesday, 26 October 2011, 6:05 pm | BusinessDesk
Oct. 26 (BusinessDesk) - New Zealand shares recovered late in the trading day to finish higher as Fletcher Building climbed from near 21/2 year lows and Australia shares gained. More >>
Pyne Gould independent report, target statement due Nov. 9
Wednesday, 26 October 2011, 5:36 pm | BusinessDesk
Oct. 26 (BusinessDesk) - Pyne Gould's independent directors said they expect to mail the target company statement and independent experts report on Nov. 9 and shareholders may wish to wait until then before taking any action on the current takeover offer More >>
NZ dollar little changed ahead of OCR review, Euro talk
Wednesday, 26 October 2011, 5:29 pm | BusinessDesk
Oct. 26 (BusinessDesk) – The New Zealand dollar was little changed in local trading having shed a US cent overnight, ahead of the Reserve Bank's review of interest rates tomorrow and more talks between European leaders over their crisis. More >>
NZX listings ‘worth serious consideration’, AMP Capital says
Wednesday, 26 October 2011, 5:18 pm | BusinessDesk
Oct. 26 (BusinessDesk) – The rush of new listings to the New Zealand stock exchange are “well worth serious consideration” amid a time of great global uncertainty, according to AMP Capital Investors NZ, one of the country’s biggest fund managers. More >>
Transpacific to raise A$309m in equity, picks profit to lift
Wednesday, 26 October 2011, 3:35 pm | BusinessDesk
Oct. 26 (BusinessDesk) – Trans-Tasman waste management company Transpacific Industries plans to raise up to A$309 million to refinance its business after writing off A$347 million from the value of its assets. More >>
IAG mulls $150 mln bond issue to New Zealand public
Wednesday, 26 October 2011, 2:38 pm | BusinessDesk
Oct. 26 (BusinessDesk) – Insurance Australia Group, the Australian insurer whose brands include State Insurance and NZI, is mulling a $150 million bond issue for New Zealand investors. More >>
Weak profits dim NZ business confidence for third month
Wednesday, 26 October 2011, 2:36 pm | BusinessDesk
Oct. 26 (BusinessDesk) – New Zealand business confidence fell for a third month as the world’s economic troubles started hitting home with local firms, and companies wound back their expected earnings for the coming year. More >>
NZ’s newest bank: PSIS becomes The Cooperative Bank
Wednesday, 26 October 2011, 2:16 pm | BusinessDesk
Oct. 26 (BusinessDesk) - PSIS Ltd has become The Cooperative Bank Ltd and it will pay “dividends”, styled as rebates, to its 127,000 customer owners from surplus profits in the future. More >>
Telecom shareholders overwhelmingly approve demerger
Wednesday, 26 October 2011, 1:22 pm | BusinessDesk
Oct. 26 (BusinessDesk) – Telecom shareholders have approved carving the company in two, letting it shed regulatory burdens and hitching its network business to a billion dollar-plus subsidy to build a national broadband network. More >>
Transpacific in trading halt ahead of capital raising
Wednesday, 26 October 2011, 12:20 pm | BusinessDesk
Oct. 26 (BusinessDesk) – Australian waste manager Transpacific Industries has gone into a trading halt on the ASX and NZX pending a partially underwritten share offer. More >>
Midday update: NZ-Taiwan free trade deal in prospect
Wednesday, 26 October 2011, 12:08 pm | BusinessDesk
Oct. 26 (BusinessDesk) – New Zealand is uniquely placed to gain a trifecta of free trade deals with the fastest-growing parts of Asia with the announcement of a free trade negotiation with Taiwan, New Zealand’s Trade Minister Tim Groser says. He ... More >>
Telecom demerger vote expected this afternoon
Wednesday, 26 October 2011, 11:28 am | BusinessDesk
Oct. 26 (BusinessDesk) – Telecom shareholders have started voting on whether to carve the company in two, letting it shed regulatory burdens and hitching its network business to a billion dollar subsidy to build a national broadband network. More >>
NZOG chairman says share price 'ridiculously low'
Wednesday, 26 October 2011, 11:18 am | BusinessDesk
Oct. 26 (BusinessDesk) – New Zealand Oil & Gas’s share price is “ridiculously low”, even with the impacts of the Pike River Coal mine disaster and reduced reserves from the Tui oil and gas field taken into account, chairman Tony Radford told shareholders ... More >>
Hospitals, most dairy operators get gas back
Wednesday, 26 October 2011, 10:59 am | BusinessDesk
Oct. 26 (BusinessDesk) – Gas supplies are being returned to essential services, including hospitals, and to most of the upper North Island dairy processing factories which have been forced to suspend operations after the first break in the Maui gas ... More >>
Fletcher Building board underpaid, says PWC, seeks 25% hike
Wednesday, 26 October 2011, 10:37 am | BusinessDesk
Oct. 26 (BusinessDesk) – Fletcher Building Ltd’s seven non-executive directors are broadly underpaid compared to their peers in Australasian companies and are asking shareholders to approve a 25 percent lift in their pool of fees. More >>
Fund managers sounded out over pricing of Trade Me float
Wednesday, 26 October 2011, 9:53 am | BusinessDesk
Oct. 26 (BusinessDesk) - Fund managers are being sounded out to determine the level of demand for a partial float of online auction business Trade Me by owner Fairfax Media before Christmas, which may raise $300 million. More >>
New Zealand dollar falls; market awaits EU summit, Aust CPI
Wednesday, 26 October 2011, 8:16 am | BusinessDesk
Oct. 26 (BusinessDesk) – The New Zealand dollar fell nearly one US cent overnight as investors spurned risky currencies on the eve of a European Union summit tasked with getting the diverse countries in Europe to work together on solutions to the ... More >>
UPDATE: Ebos evaluating an acquisition of more than $90M
Tuesday, 25 October 2011, 6:23 pm | BusinessDesk
Oct. 25 (BusinessDesk) - Pharmaceuticals and medical supplies distributor Ebos Group is currently evaluating a New Zealand/Australian-‘centric’ acquisition valued at more than $90 million, managing director Mark Waller confirmed. More >>
SMELLIE ON SME’S: Coping with a gas outage
Tuesday, 25 October 2011, 6:22 pm | BusinessDesk
Oct. 25 (BusinessDesk) – This column won’t be relevant to everyone, but if your business uses natural gas and you’re north of Morrinsville, you’ll know by now you’ve got a problem. The gas industry has put into effect its emergency plan for ... More >>
UPDATE: Gas outage to cost Fonterra $20M a day in spilt milk
Tuesday, 25 October 2011, 6:06 pm | BusinessDesk
Oct. 25 (BusinessDesk) – Fonterra is expecting to waste about $20 million of milk a day after being forced to close 15 of its 17 processing sites in the upper North Island following a break in the Maui gas pipeline north of New Plymouth. More >>
