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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 1488]
Midday update: European bank rescue talk hits $NZ
Wednesday, 5 October 2011, 12:24 pm | BusinessDesk
Oct. 5 (BusinessDesk) – The kiwi dollar gyrated through the morning as reports of bank rescue packages being formulated in Europe rocked world currency markets. More >>
Auckland property sales fall 2.6% in September: Barfoot
Wednesday, 5 October 2011, 11:34 am | BusinessDesk
Auckland property sales fall 2.6% in September as prices reach 6-month high: Barfoot More >>
Port of Tauranga assists reef-bound vessel, port operating
Wednesday, 5 October 2011, 11:32 am | BusinessDesk
Oct. 5 (BusinessDesk) - Port of Tauranga Ltd. is assisting the rescue of a Mediterranean Shipping Company container ship stuck on a reef just outside the port’s piloted area, but is not affecting port operations, the company says. More >>
NZX trading growth slows in September after August spike
Wednesday, 5 October 2011, 10:17 am | BusinessDesk
Oct. 5 (BusinessDesk) – The volume of trading on NZX Ltd.’s exchange slowed last month after spiking in August when global market volatility surged following Standard & Poor’s downgrade of the U.S, credit rating. Volumes were still up on September ... More >>
Freightways directors seek 29% pay rise, first in 4 years
Wednesday, 5 October 2011, 10:08 am | BusinessDesk
Oct. 5 (BusinessDesk) – Freightways Ltd., the courier and logistics firm, is proposing a 29% pay rise for its six directors, saying they haven’t had an increase since 2007 and in that time their workload has increased. More >>
NZ dollar rebounds on reports on EU bank plans
Wednesday, 5 October 2011, 10:01 am | BusinessDesk
NZ dollar rises sharply as equities recover on reports of progress on European bank bailouts More >>
New Zealand dollar continues to test six month lows
Wednesday, 5 October 2011, 8:36 am | BusinessDesk
Oct. 5 (BusinessDesk) – The New Zealand dollar is continuing to test six-month lows as equity markets again succumb to concerns about European sovereign debt even though local milk powder prices were better than some analysts expected at Fonterra's ... More >>
Fonterra dairy product prices dip for eighth straight sale
Wednesday, 5 October 2011, 7:43 am | BusinessDesk
Oct. 5 (BusinessDesk) – Average prices of dairy products fell for an eighth straight sale at Fonterra Cooperative Group’s latest online auction, tracking global commodities lower as Europe’s debt woes stoked concern the world economy is stumbling. More >>
Aorangi investors to get further 5 cts after loan refinanced
Tuesday, 4 October 2011, 6:39 pm | BusinessDesk
Oct. 4 (BusinessDesk) - Investors in Aorangi Securities Ltd. will get a further 5 cent capital distribution on Friday after the statutory managers refinanced a $5 million loan, according to their latest report. More >>
MARKET CLOSE: NZ stocks rise on relatively appealing yields
Tuesday, 4 October 2011, 6:00 pm | BusinessDesk
MARKET CLOSE: NZ stocks rise on relatively appealing yields, weaker dollar; F&P Healthcare gains More >>
NZ dollar hits fresh six-month low on global fears
Tuesday, 4 October 2011, 5:30 pm | BusinessDesk
Oct. 4 (BusinessDesk) – The New Zealand dollar extended its losses to a fresh six-month low as dwindling optimism among local businesses added to the negative investor sentiment as Europe’s sovereign debt crisis looks set to spread. More >>
RBA keeps key rate on hold on global turmoil, mild inflation
Tuesday, 4 October 2011, 5:13 pm | BusinessDesk
Oct. 4 (BusinessDesk) - The Reserve Bank of Australia's board left interest rates unchanged, citing the very unsettled conditions in global financial markets and signs neither growth nor inflation in Australia will be as strong as previously expected. More >>
Receivers appointed to another Century City unit
Tuesday, 4 October 2011, 3:29 pm | BusinessDesk
Oct. 4 (BusinessDesk) – Receivers have been appointed to another company in Wellington property developer Terry Serepisos’ empire and have taken over the management of his own headquarters. More >>
Treasury too hands-off on deposit guarantee scheme
Tuesday, 4 October 2011, 3:10 pm | BusinessDesk
NZ Treasury gets pass mark for deposit guarantee scheme, but was too hands-off: auditor general More >>
Indicative bids for Griffin's Foods expected around Oct. 21
Tuesday, 4 October 2011, 12:59 pm | BusinessDesk
Oct. 4 (BusinessDesk) - The sale process for Griffin's Foods, which has half the biscuit market and is the biggest snacks manufacturer in New Zealand, heats up this month, with indicative bids due in just days before the Rugby World Cup finals. More >>
Air NZ’s market dominance underpins credit rating: Moody’s
Tuesday, 4 October 2011, 12:08 pm | BusinessDesk
Oct. 4 (BusinessDesk) – Air New Zealand Ltd., the carrier three-quarters owned by the government, can rely on its dominance in the domestic market to support its credit rating, according to Moody’s Investors Service. More >>
Midday update: Fletcher executive to head Meridian Energy
Tuesday, 4 October 2011, 12:01 pm | BusinessDesk
Oct. 4 (BusinessDesk) – The board of Meridian Energy Ltd. has chosen Fletcher Building Ltd. senior executive Mark Binns as the state-owned power company’s new chief executive, in a move that presages its likely partial privatisation after the Nov. 26 general ... More >>
“One crutch” recovery relies on Canterbury: NZIER
Tuesday, 4 October 2011, 10:15 am | BusinessDesk
Oct. 4 (BusinessDesk) – The building industry is bouncing back for the first time in three years, driven only by the Canterbury rebuild, and retailers are expecting a bumper end to the year. More >>
Fletcher Building’s Mark Binns tapped as new CEO of Meridian
Tuesday, 4 October 2011, 9:50 am | BusinessDesk
Oct. 4 (BusinessDesk) – Mark Binns, who is leading Fletcher Building Ltd.’s efforts to rebuild Christchurch as head of its infrastructure division, has been tapped as chief executive of state-owned Meridian Energy Ltd., the nation’s largest electricity ... More >>
New Zealand dollar falls as global equity markets slump
Tuesday, 4 October 2011, 8:28 am | BusinessDesk
Oct. 4 (BusinessDesk) – The New Zealand dollar fell to its lowest level since March 28 as global equity markets slumped on concern about how the European debt crisis is playing out. More >>
