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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 1483]
New Zealand dollar rises even as US stocks fall
Friday, 14 October 2011, 8:31 am | BusinessDesk
Oct. 14 (BusinessDesk) – The New Zealand dollar rose from overnight lows ahead of inflation data out of China, even as equity markets turned down in response to weak Chinese trade data and a disappointing profit report from JP Morgan Chase, the ... More >>
Port of Tauranga suspends marine operations in Rena's wake
Thursday, 13 October 2011, 5:56 pm | BusinessDesk
Oct. 13 (BusinessDesk) – Port of Tauranga, New Zealand’s busiest export port, will suspend marine operations overnight after containers from the grounded vessel Rena drifted into shipping channels. More >>
MARKET CLOSE: NZX50 extends slide as Methven warns on profit
Thursday, 13 October 2011, 5:39 pm | BusinessDesk
Oct. 13 (BusinessDesk) – New Zealand shares extended their slide as tapware maker Methven became the latest firm exposed to the building sector to report a drop in income. Fletcher Building, the nation’s biggest construction company, sank to the ... More >>
NZ dollar holds on to ‘monstrous’ gains
Thursday, 13 October 2011, 5:09 pm | BusinessDesk
Oct. 13 (BusinessDesk) – The New Zealand dollar held on to most of its “monstrous” gain overnight as strong Australian employment data underpinned the turnaround in investor sentiment. More >>
Methven follows Fletcher in cutting profit forecast
Thursday, 13 October 2011, 4:33 pm | BusinessDesk
Oct. 13 (BusinessDesk) – Methven, the manufacturer of tapware and bathroom fittings, cut its full-year profit forecast by as much as a third, citing a downturn in housing activity, especially in Australia. More >>
Power tightens up on company registration, cartels
Thursday, 13 October 2011, 4:00 pm | BusinessDesk
Oct. 13 (BusinessDesk) – Outgoing Commerce Minister Simon Power is keeping up his whirlwind of legislation, tabling more bills today, this time to crackdown on company registration and criminalising cartels. More >>
Windflow prepares for liquidation
Thursday, 13 October 2011, 3:08 pm | BusinessDesk
Oct. 13 (BusinessDesk) – Commitment of $15,000 apiece from just 43 Windflow Technology shareholders stands between the two-bladed wind turbine pioneer and liquidation, papers filed with the NZX today show. More >>
OceanaGold and MOD Resources partner up for Sams Creek gold
Thursday, 13 October 2011, 12:55 pm | BusinessDesk
Oct. 13 (BusinessDesk) – Gold miners OceanaGold and MOD Resources are getting into bed to see whether the Sams Creek gold prospect in Nelson is viable. More >>
Ecoya on track for 2012 profit, breaks even at EBIT level
Thursday, 13 October 2011, 12:09 pm | BusinessDesk
Oct. 13 (BusinessDesk) – Ecoya, the scented candle and skin-care products company, said it is on track to post a modest profit this year, helped by earnings from its Trilogy acquisition. The shares jumped 6.7 percent to 96 cents. More >>
Midday update: No difference with dedicated rescue ship
Thursday, 13 October 2011, 12:03 pm | BusinessDesk
Oct. 13 (BusinessDesk) – Maritime New Zealand’s decision not to invest in a dedicated oil pollution rescue vessel has made no difference to the quality of the response to the wreck of the container ship Rena, according to then Energy Minister Gerry ... More >>
NZ manufacturing sector continues to lose momentum
Thursday, 13 October 2011, 11:23 am | BusinessDesk
Oct. 14 (BusinessDesk) - New Zealand manufacturing has recorded a less expansionary reading for the fourth month in a row in a survey that shows a contraction in the northern region and expansion in the south. More >>
Cheaper vegetables push NZ food prices down in September
Thursday, 13 October 2011, 11:17 am | BusinessDesk
Oct. 13 (BusinessDesk) – Cheaper vegetables that are now in-season helped push the price of food down last month, according to government data. More >>
TVNZ says reporters multi-tasking, spending less on travel
Thursday, 13 October 2011, 10:51 am | BusinessDesk
Oct. 13 (BusinessDesk) - Television New Zealand says it no longer has a number of reporters from different programmes chasing the same story and the cost of air travel across the whole company has been cut by 32 percent to $4.6 million. More >>
NZ petrol, power companies least competitive, customers say
Thursday, 13 October 2011, 10:35 am | BusinessDesk
Oct. 13 (BusinessDesk) – Petrol stations and power companies are perceived as the least competitive providers of utility-type services, with both residential and business customers giving much higher ratings for competition between phone companies and ... More >>
New Zealand dollar soars amid improving investor sentiment
Thursday, 13 October 2011, 8:38 am | BusinessDesk
Oct. 13 (BusinessDesk) – The New Zealand dollar soared two U.S. cents overnight mostly before it became clear that Slovakia would sign off on the European region’s bailout fund. More >>
From the Farm: Sheep rustlers
Thursday, 13 October 2011, 8:14 am | BusinessDesk
Two Balclutha men, Hugh Smith and James Taylor, have been charged with the theft of 10 sheep owned by Puketipo farmer John Miller. More >>
NZ dollar pares losses as equity markets, Slovak vote weigh
Wednesday, 12 October 2011, 5:45 pm | BusinessDesk
Oct. 12 (BusinessDesk) – The New Zealand dollar pared its decline after slipping below 78 U.S. cents amid weak equity markets and the Slovak Parliament’s refusal to sign off on the European region’s bail-out fund. More >>
MARKET CLOSE: NZ shares tumble; Fletcher leads on downgrade
Wednesday, 12 October 2011, 5:41 pm | BusinessDesk
Oct. 12 (BusinessDesk) - New Zealand shares had their biggest tumble since early August after Fletcher Building Ltd. forecast lower earnings and Cavalier Corp. reported a drop in first-quarter sales, stoking concern more companies are doing it tough ... More >>
John Yarrow buys Yarrow’s
Wednesday, 12 October 2011, 5:15 pm | BusinessDesk
Oct. 12 (BusinessDesk) – Taranaki baking business Yarrows (The Bakers) Ltd. has been sold by receivers BDO to one of the founding family brothers, John Yarrow. More >>
Wakefield has buoyant start to the year, says it won't last
Wednesday, 12 October 2011, 3:14 pm | BusinessDesk
Oct. 12 (BusinessDesk) -Wakefield Health Ltd. said first half sales rose about 5% and trading profit was up about 10% but it is unlikely to maintain these growth rates in the second half. More >>
