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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 1485]
More help needed for gumby investors: finance company report
Tuesday, 11 October 2011, 1:00 pm | BusinessDesk
Oct. 11 (BusinessDesk) – The Parliamentary Commerce Committee’s report into the raft of finance company failures has finally arrived, and stresses the need for more money to fund educating the nation’s investors. More >>
Midday update: Norske Skog to retain Kawerau mill
Tuesday, 11 October 2011, 12:30 pm | BusinessDesk
Oct. 11 (BusinessDesk) – Global newsprint producer Norske Skog says it will maintain its ownership of the Tasman paper mill at Kawerau, despite reports it is looking to sell assets globally to stave off a debt default. A senior executive based in ... More >>
Norske Skog's asset sale plan does not include NZ mill
Tuesday, 11 October 2011, 11:47 am | BusinessDesk
Oct. 11 (BusinessDesk) - Norske Skogindustrier ASA's plans to sell assets globally to avoid default on its debt do not extend to its New Zealand business. More >>
EQC levies to treble from February next year
Tuesday, 11 October 2011, 11:35 am | BusinessDesk
Oct. 11 (BusinessDesk) – The compulsory Earthquake Commission levy is to treble to 15 cents per $100 of insured value from February next year, as the first step in a 30 year plan to rebuild the National Disaster Fund, which was wiped out by the ... More >>
RWC has little impact on credit, debit card spending in Sept
Tuesday, 11 October 2011, 11:10 am | BusinessDesk
Oct. 11 (BusinessDesk) – The Rugby World Cup appears to have had little impact on spending on credit and debit cards last month, which crept up, according to government data. More >>
Diligent 3Q sales keep climbing, flags quarterly breakeven
Tuesday, 11 October 2011, 9:09 am | BusinessDesk
Oct. 11 (BusinessDesk) – Diligent Board Member Services Inc., the governance software company, says its operation broke even in the third quarter as sales continued to surge in the period. More >>
NZ Dollar surges more than 1 US ct on optimism about Europe
Tuesday, 11 October 2011, 8:48 am | BusinessDesk
Oct. 11 (BusinessDesk) - The New Zealand dollar rose more than one U.S. cent overnight as equity markets surged in response to statements by German Chancellor Angela Merkel and French President Nicholas Sarkozy even though they did not detail a plan to resolve ... More >>
ISI eyes financial services lobby group mergers
Monday, 10 October 2011, 5:56 pm | BusinessDesk
Oct. 10 (BusinessDesk) – The Investment Savings & Insurance Association, which counts fund managers and life insurers among its membership, is looking to transform itself into an industry-wide lobby group taking in a range of other groups. More >>
Kiwi back above 77 US cts in thin trading pre-US holiday
Monday, 10 October 2011, 5:40 pm | BusinessDesk
NZ dollar climbs back above 77 US cts in thin trading ahead of Columbus Day More >>
MARKET CLOSE: NZX50 dips after 'rip-roaring' close last week
Monday, 10 October 2011, 5:39 pm | BusinessDesk
Oct. 10 (BusinessDesk) – New Zealand shares fell for the first time in a week in trading on the NZX today, following a strong close to trading last Friday. The NZX50 index of leading stocks closed down 0.3% at 3,372.854. More >>
Key relied on mate’s email for S&P attack on Labour
Monday, 10 October 2011, 4:40 pm | BusinessDesk
Oct. 10 (BusinessDesk) – Prime Minister John Key today released an email from a political contact to support comments denied by Standard & Poor’s that the credit rating agency was more likely to downgrade New Zealand’s rating if there ... More >>
Wakefield warns of further quake-strengthening cost
Monday, 10 October 2011, 4:18 pm | BusinessDesk
Oct. 10 (BusinessDesk) – The site of Wakefield Health Ltd.’s main hospital in Newtown, Wellington, will require greater earthquake strengthening than previously anticipated, the company’s chief executive Andrew Blair said in a statement to ... More >>
OceanaGold says Didipio project has one-to-two year payback
Monday, 10 October 2011, 3:35 pm | BusinessDesk
Oct. 10 (BusinessDesk) - Macraes goldfield operator OceanaGold Corp.'s Didipio gold and copper project in the Philippines has a “very robust” capital payback of one to two years, based on estimated capital costs of US$185 million, according to ... More >>
Rubicon shareholder cries foul over management
Monday, 10 October 2011, 3:08 pm | BusinessDesk
Oct. 10 (BusinessDesk) – Rubicon Ltd. shareholder Sandell Asset Management Corp. has lost confidence in the forestry-based biotech company’s managers and is calling for a sale of either itself of its assets. More >>
Kerr and Baker Street make full takeover bid for PGC at 33c
Monday, 10 October 2011, 1:17 pm | BusinessDesk
Kerr and Baker Street make full takeover offer for Pyne Gould Corp at 33 cents More >>
Price-fixing Brazilian fridge parts maker seeks settlement
Monday, 10 October 2011, 1:03 pm | BusinessDesk
Oct. 10 (BusinessDesk) – The Commerce Commission has settled with Empresa Brasileira de Compressores S.A. (Embraco), which makes refrigeration compressors, for fixing prices in New Zealand. More >>
NZ Dollar Outlook: Kiwi may rise; still vulnerable to Europe
Monday, 10 October 2011, 12:38 pm | BusinessDesk
Oct. 10 (BusinessDesk) - The New Zealand dollar may rise this week on hopes European policymakers will make progress on restoring confidence, avoiding a Greek debt default and saving banks but analysts set a wide trading range to accommodate rhetoric from ... More >>
Midday update: Dictionaries out of inflation index, iPads in
Monday, 10 October 2011, 12:06 pm | BusinessDesk
Oct. 10 (BusinessDesk) – The official inflation statistics will no longer include the cost of dictionaries and envelopes, but will in future include the price of tablet computers and e-books have been added in the three-yearly review of the Consumer’s ... More >>
Nuplex directors ask for shareholders for 33% fee pool rise
Monday, 10 October 2011, 11:52 am | BusinessDesk
Oct. 10 (BusinessDesk) – Nuplex Industries Ltd. will ask shareholders to approve a hike in the pool for directors’ fees by a third to help the board’s income keep pace with inflation. More >>
Infratil to boost capex at Wellington Airport
Monday, 10 October 2011, 11:19 am | BusinessDesk
Oct. 10 (BusinessDesk) – Infratil Ltd. plans to boost its level of investment in Wellington Airport over the coming five years to improve peak-time capacity and meet rising passenger numbers. More >>
