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BusinessDesk - Latest News [Page 1487]

NZ dollar pares gains ahead of ECB, BoE meetings

Thursday, 6 October 2011, 5:14 pm | BusinessDesk

Oct. 6 (BusinessDesk) – The New Zealand dollar pared gains ahead of central bank meetings in Europe as investors stay on edge as the Euro-zone tries to get on top of its sovereign debt issues. More >>

COMMENT: Hard-charging Weldon got results, but not trust

Thursday, 6 October 2011, 2:32 pm | BusinessDesk

Oct. 6 (BusinessDesk) – Love him or loathe him, Mark Weldon has to be given credit for reviving a New Zealand stock exchange that was on life support when he took the reins in 2002. More >>

Weldon to stay “meaningfully invested” in NZX

Thursday, 6 October 2011, 2:21 pm | BusinessDesk

Oct. 6 (BusinessDesk) – Departing NZX Ltd. chief executive Mark Weldon says he intends to remain “meaningfully invested” in the local stock exchange operator, of which he remains the single largest personal shareholder. More >>

Allied Farmers retracts Hanover slurs, flags huge placement

Thursday, 6 October 2011, 1:49 pm | BusinessDesk

Oct. 6 (BusinessDesk) – Penny-dreadful Allied Farmers Ltd. has retracted its accusations against Hanover Finance in order to settle a $5million dispute and is preparing to issue 977.3 million new shares to its pre-Hanover merger shareholders. More >>

Joyce tells Chorus to lift transparency of network deed

Thursday, 6 October 2011, 12:51 pm | BusinessDesk

Oct. 6 (BusinessDesk) – Communications Minister Steven Joyce sent back Chorus’s deed of undertaking over the copper network to Telecom Corp., saying it needs better transparency for the regulators. More >>

New Telecom may be takeover target when shareholder cap ends

Thursday, 6 October 2011, 12:42 pm | BusinessDesk

Oct.6 (BusinessDesk) - The New Telecom company formed when the Chorus network business is split from Telecom Corp. in November will be the third-largest company on the NZX and will be a takeover target, according to fund managers and the independent ... More >>

Midday update: Chorus copper network pledge needs rework

Thursday, 6 October 2011, 12:21 pm | BusinessDesk

Oct. 6 (BusinessDesk) – Communications Minister Steven Joyce has knocked back the open access deed of undertaking provided by Telecom Corp.’s infrastructure unit, Chorus, saying he wants a more transparent set of arrangements before signing off. ... More >>

Mortgagee sales hold at elevated levels, more family homes

Thursday, 6 October 2011, 12:02 pm | BusinessDesk

Oct. 6 (BusinessDesk) – Mortgagee sales fell 18% in the first six months of 2011 from a year earlier, while remaining at elevated levels and with more single property owners evident, according to Terralink. More >>

Receivers appointed to two more Serepisos companies

Thursday, 6 October 2011, 10:51 am | BusinessDesk

Oct. 6 (BusinessDesk) – Receivers have been appointed to two more companies in Wellington property developer Terry Serepisos’ empire. More >>

Red meat industry mulls globalDairyTrade-type platform

Thursday, 6 October 2011, 10:51 am | BusinessDesk

Oct. 6 (BusinessDesk) – New Zealand’s red meat industry is considering the scope to set up a trading platform, similar to what Fonterra Cooperative Group has done for dairy products, as it attempts to establish benchmark prices for commodity products. More >>

Vodafone NZ boosts annual profit 25% on lower depreciation

Thursday, 6 October 2011, 10:09 am | BusinessDesk

Oct. 6 (BusinessDesk) – Vodafone New Zealand Ltd., the country’s biggest mobile phone operator, listed profit 25% in its latest financial year, mainly reflecting lower depreciation charges. More >>

Mark Weldon will leave NZX in first half of next year

Thursday, 6 October 2011, 9:15 am | BusinessDesk

Oct. 6 (BusinessDesk) - NZX Ltd. chief executive Mark Weldon is leaving the share market operator in the first half of next year. More >>

New Zealand dollar holds above 76 US cts ahead of ECB, BoE

Thursday, 6 October 2011, 8:52 am | BusinessDesk

Oct. 6 (BusinessDesk) – The New Zealand dollar held above 76 U.S. cents and is expected to settle near current levels today ahead of interest rate decisions in Europe overnight. More >>

From the Farm: Red meat shapes up

Thursday, 6 October 2011, 7:56 am | BusinessDesk

A group set up to drive reform in the meat industry has just posted its first quarterly report. It's called the Strategy Coordination Group (SCG) and its aim is to lead the Red Meat Sector Strategy (RMSS). More >>

MARKET CLOSE: NZ shares rise on glimmers of Euro news

Wednesday, 5 October 2011, 5:53 pm | BusinessDesk

MARKET CLOSE: NZ shares rise after late Wall Street rally on glimmer of Euro bank news More >>

NZ dollar rally runs out of puff

Wednesday, 5 October 2011, 5:20 pm | BusinessDesk

Oct. 5 (BusinessDesk) – The New Zealand dollar’s rally slowed in local afternoon trading after rising in the morning following a report that European officials are looking for a concerted approach to deal with the region’s debt problems. More >>

MRP faces $24mln hit if March price spike upheld

Wednesday, 5 October 2011, 5:05 pm | BusinessDesk

Oct. 5 (BusinessDesk) – MightyRiverPower Ltd. has put a $24 million potential price tag on some eight hours of March 26, when electricity prices on the wholesale spot price spiked to more than $20,000 per Megawatt hour – more than 200 times their ... More >>