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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 1477]
MARKET CLOSE: NZ shares rise in post-holiday catch-up
Tuesday, 25 October 2011, 6:01 pm | BusinessDesk
Oct. 25 (BusinessDesk) New Zealand shares rose as the local market played catch-up after a three-day weekend when most equity markets rose on optimism for a solution to Europe’s debt crisis at a summit tomorrow. OceanaGold led gainers and Pumpkin ... More >>
NZ dollar slips after benign inflation data
Tuesday, 25 October 2011, 5:18 pm | BusinessDesk
Oct. 25 (BusinessDesk) – The New Zealand dollar slipped in local trading after shedding almost half a cent on softer-than-expected inflation, though optimism about Europe’s plan to deal with its sovereign debt woes limited the slide. More >>
Auckland industry, services face days without natural gas
Tuesday, 25 October 2011, 5:13 pm | BusinessDesk
Oct. 25 (BusinessDesk) – Auckland faces the prospect of days without natural gas supplies, with all commercial and industrial gas users in the upper North Island ordered to “curtail” their consumption until further notice this afternoon. More >>
Fonterra cuts 2012 forecast milk payment on weaker prices
Tuesday, 25 October 2011, 5:05 pm | BusinessDesk
Oct. 25 (BusinessDesk) – Fonterra Cooperative Group, New Zealand’s biggest company by sales, says the decline in its milk payment next year will be greater than it previously forecast, reflecting a high kiwi dollar and weaker commodity prices. More >>
Eurozone crisis outcome critical to growth outlook
Tuesday, 25 October 2011, 3:13 pm | BusinessDesk
Eurozone crisis outcome critical to growth outlook By Pattrick Smellie Oct. 25 (BusinessDesk) – The volatile world economy is the greatest risk to New Zealand achieving the economic growth rates and return to fiscal surplus in 2015 contained in the Treasury’s ... More >>
Govt forecasts stay the course in pre-election update
Tuesday, 25 October 2011, 2:36 pm | BusinessDesk
Oct. 25 (BusinessDesk) – The government’s growth forecasts for the next five years are largely unchanged in its pre-election update from the May budget, though the latest bout of global jitters has thrown up a number of risks if the world economy ... More >>
Air NZ says school holiday re-jig trimmed September volumes
Tuesday, 25 October 2011, 1:55 pm | BusinessDesk
October 25 (BusinessDesk) – Air New Zealand blames the shifting of the school holidays till October as a reason for a 6.5 percent decrease in domestic passengers during September compared to the same month a year ago. More >>
Ebos backs off UK purchase, evaluates Australasian asset
Tuesday, 25 October 2011, 12:45 pm | BusinessDesk
Oct. 25 (BusinessDesk) - Pharmaceuticals and medical supplies distributor Ebos Group backed away from an acquisition in Britain because of deteriorating market conditions in Europe but is currently evaluating another “significant” Australasian purchase. More >>
Buller coal project reserves jump 37%
Tuesday, 25 October 2011, 12:40 pm | BusinessDesk
Oct. 25 (BusinessDesk) – Recoverable coal reserves have jumped by more than a third at Bathurst Resources’ Buller coal project, driven by increases at the proposed Escarpment and Whareatea prospects, both of which still require resource consents ... More >>
Midday Update: Inflation weaker than expected, dollar drops
Tuesday, 25 October 2011, 12:05 pm | BusinessDesk
Oct. 25 (BusinessDesk) - New Zealand inflation slowed to almost half the expected pace in the three months through September, with the Consumer Price Index rising 0.4 percent in the quarter. Analysts were picking a quarterly pace of 0.7 percent ... More >>
Auckland Airport reports influx of French, UK rugby fans
Tuesday, 25 October 2011, 11:43 am | BusinessDesk
Oct. 25 (BusinessDesk) - Auckland International Airport reported a 708 percent surge in visitors from France in September as the Rugby World Cup geared up. More >>
Major gas outage threatens industry north of Taranaki
Tuesday, 25 October 2011, 11:28 am | BusinessDesk
Oct. 25 (BusinessDesk) - Industrial gas users north of Taranaki are on short rations after the Maui gas pipeline was closed this morning to investigate reports of a leak in the critical supply line for natural gas to a range of industries, including electricity ... More >>
Nuplex withdraws proposal to hike directors' fees
Tuesday, 25 October 2011, 11:25 am | BusinessDesk
Oct. 25 (BusinessDesk) – Nuplex Industries, the specialty chemicals maker, has withdrawn a proposal to hike directors’ fees by about a third after concerns from shareholders about the scope of the increase. More >>
INM names Osborne as chairman
Tuesday, 25 October 2011, 11:16 am | BusinessDesk
Oct. 25 (BusinessDesk) - Independent News & Media has named James Osborne as a director who succeeds Brian Hillery as chairman with immediate effect. More >>
NZ 3Q inflation slows to 0.4% on cheaper petrol, phones
Tuesday, 25 October 2011, 10:53 am | BusinessDesk
Oct. 25 (BusinessDesk) – New Zealand’s consumer prices rose at almost half the expected pace in the third quarter as cheaper petrol costs and telecommunication services helped keep a lid on inflation. The consumer price index rose 0.4 percent ... More >>
Commerce Commission appeals Vector win
Tuesday, 25 October 2011, 10:28 am | BusinessDesk
Oct. 25 (BusinessDesk) – The Commerce Commission will appeal a High Court decision that told it to go back to the drawing board on regulating prices for monopoly services. More >>
New Zealand dollar rises as risk appetite improves
Tuesday, 25 October 2011, 8:36 am | BusinessDesk
Oct. 25 (BusinessDesk) – The New Zealand dollar rose more than one and a half US cents during the long holiday weekend as investors became more comfortable with risk-sensitive assets as global equity markets soared. More >>
Rena disaster won’t affect plans of Kotahi export alliance
Monday, 24 October 2011, 10:11 am | BusinessDesk
Oct. 24 (BusinessDesk) - The choice of shipping lines by an alliance of New Zealand exporters set up to create buying power in the market for international containerised freight won't be affected by the grounding of the Rena off the coast of Tauranga ... More >>
NZ pace of inflation probably slowed enough to calm RBNZ
Monday, 24 October 2011, 10:02 am | BusinessDesk
Oct. 22 (BusinessDesk) - New Zealand's annual inflation probably slowed from a 21-year high in the third quarter, meeting Reserve Bank Governor Alan Bollard's estimate and giving him no reason to change his stance on keeping interest rates at a record ... More >>
World Week Ahead: Europe’s marathon talks
Monday, 24 October 2011, 9:53 am | BusinessDesk
(BusinessDesk) October 24 – Europe’s talks are proceeding but the end is so far down the road that it's like running a 100-kilometre ultra marathon. More >>
