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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 1480]
Air NZ commits up to US270mln for new regional aircraft
Wednesday, 19 October 2011, 1:32 pm | BusinessDesk
Oct. 19 (BusinessDesk) – Air New Zealand will add up to two million passenger seats a year to regional New Zealand destinations by investing up to US$270 million on as many as a dozen new ATR-600 turbo-prop planes. More >>
Midday update: Restaurant Brands shares tank on weak 1H
Wednesday, 19 October 2011, 12:17 pm | BusinessDesk
Oct. 19 (BusinessDesk) – Shares in Restaurant Brands, the owner of the Kentucky Fried Chicken, Pizza Hut and Starbucks franchises in New Zealand, have tanked on the NZX this morning, falling 9.7 per cent to $1.95 after the company announced a ... More >>
Lend Lease-linked fund buys 4 NZ malls from Lend Lease
Wednesday, 19 October 2011, 11:47 am | BusinessDesk
Oct. 19 (BusinessDesk) – A group of investors led by Lend Lease has bought four shopping centres in New Zealand for $197 million from the Australian property group. More >>
Energy Mad gains 18-month waiver from NZX listing rules
Wednesday, 19 October 2011, 10:49 am | BusinessDesk
Oct. 19 (BusinessDesk) – Energy Mad, which makes and markets energy-efficient light bulbs, gained a waiver from NZX listing rules after its initial public offering failed to attract the minimum 500 shareholders. More >>
Contact Energy changes directors’ shareholding rules
Wednesday, 19 October 2011, 10:27 am | BusinessDesk
Oct. 19 (BusinessDesk) – Directors of Contact Energy will become shareholders in the company through a less complex scheme, the chairman, Grant King, told shareholders at the company’s annual meeting today, in Rotorua. More >>
UPDATED: Restaurant Brands shares sink 8.8% on weaker profit
Wednesday, 19 October 2011, 10:18 am | BusinessDesk
UPDATED: Restaurant Brands reports 44 percent fall in 1H profit, shares plunge 8.8 percent More >>
Todd Energy seeks four new directors for Cue Energy
Wednesday, 19 October 2011, 9:47 am | BusinessDesk
Oct. 19 (BusinessDesk) – Cue Energy’s largest shareholder, Todd Energy, is seeking shareholder approval to take the company’s board from three to seven directors, five of whom either have direct or close connections to Todd. More >>
Telecom makes $2.7M settlement for incorrect meter readings
Wednesday, 19 October 2011, 9:46 am | BusinessDesk
Oct. 19 (BusinessDesk) – Telecom has continued its rush to settle outstanding disputes ahead of next month’s vote to split the company, reaching a deal with the Commerce Commission to repay broadband customers overcharged for incorrect meter readings. More >>
Restaurant Brands reports 44 percent fall in 1H profit
Wednesday, 19 October 2011, 9:16 am | BusinessDesk
Oct. 19 (BusinessDesk) - Fast-food chain operator Restaurants Brands has reported a 44 percent fall in first-half profit as a lift from the Rugby World Cup failed to counter the impact of the Christchurch earthquake on its business. More >>
NZ dollar rises as Wall Street powers ahead
Wednesday, 19 October 2011, 8:33 am | BusinessDesk
Oct. 19 (BusinessDesk) – The New Zealand dollar rose as a rally on Wall Street driven by bank earnings countered the impact of a warning about France's credit rating on sentiment. More >>
Fonterra dairy product prices snap 4-month slide, rise 1.7%
Wednesday, 19 October 2011, 7:06 am | BusinessDesk
Fonterra dairy product prices snap four-month slide, rise 1.7 percent as milk powder gains More >>
Judge raps Solid Energy over Pike asset grab
Tuesday, 18 October 2011, 6:29 pm | BusinessDesk
Oct. 18 (BusinessDesk) – The High Court has rapped Solid Energy on the knuckles for an anti-competitive attempt to corner coal-handling facilities vital to the Pike River mine’s viability, just as receivers were preparing the damaged but potentially ... More >>
MARKET CLOSE: NZ shares drop as foreigners sell Fletcher
Tuesday, 18 October 2011, 5:49 pm | BusinessDesk
Oct. 18 (BusinessDesk) - New Zealand shares fell, pushing the benchmark NZX 50 Index to the lowest level in a month, as investors drove down Fletcher Building in the wake of its earnings downgrade last week. More >>
NZ dollar holds below 80 US cts, euro fears rebuilding
Tuesday, 18 October 2011, 5:12 pm | BusinessDesk
Oct. 18 (BusinessDesk) – The New Zealand dollar held below 80 US cents after investors lost their appetite for higher-yielding, riskier assets as the prospect grows Europe’s sovereign debt and banking system crises won’t be easy fixes. More >>
Kiwi appetite for debt, using plastic may be returning: Veda
Tuesday, 18 October 2011, 3:56 pm | BusinessDesk
Oct. 18 (BusinessDesk) – New Zealanders may be regaining their appetite for debt and credit card spending, a development that could bode well for retailers during the crucial Christmas trading season. More >>
Telstra shareholders set to approve NBN split
Tuesday, 18 October 2011, 3:21 pm | BusinessDesk
Oct. 18 (BusinessDesk) – Telstra’s shareholders look likely to approve the Australian phone company’s separation to allow its participation in the National Broadband Network after proxy and direct voting at the annual meeting today. More >>
No KiwiSaver auto-enrolment until Budget back in surplus
Tuesday, 18 October 2011, 3:09 pm | BusinessDesk
Oct. 18 (BusinessDesk) – The government won’t consider automatically enrolling New Zealanders into KiwiSaver until its books are back in the black, Finance Minister Bill English has announced. More >>
May Wang and Jack Chen targets of Hong Kong corruption probe
Tuesday, 18 October 2011, 1:02 pm | BusinessDesk
Oct. 18 (BusinessDesk) – Hong Kong’s Independent Commission Against Corruption has charged Auckland bankrupt May Wang with conspiring to bribe officials with two New Zealand properties and money laundering, and has issued a warrant for the arrest ... More >>
Lombard Finance ‘more conservative’ than peers, defence says
Tuesday, 18 October 2011, 12:39 pm | BusinessDesk
Oct. 17 (BusinessDesk) – Lombard Finance chief executive Michael Reeves made sure the failed financier didn’t lend to related parties and only made loans on New Zealand property when he set up the firm nine years ago, the High Court in Wellington ... More >>
Turners & Growers backs off battle with Zespri
Tuesday, 18 October 2011, 12:01 pm | BusinessDesk
Oct. 18 (BusinessDesk) - Turners & Growers is backing off its challenge to the export monopoly of Zespri because of the "severe pressure" the industry is under from the bacterial disease PSA. More >>
