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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.

Contact BusinessDesk

Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 1492]

Midday update: Landcorp seeks Crafar farms management

Wednesday, 28 September 2011, 11:59 am | BusinessDesk

Sept. 28 (BusinessDesk) – State-owned corporate farmer Landcorp is reported to be in discussion with the Chinese investors seeking to buy the 16 Crafar family farms. Fairfax Media reported this morning that Landcorp had opened discussions with Shanghai-based ... More >>

SmartPay, Snapper form contactless payment partnership

Wednesday, 28 September 2011, 11:48 am | BusinessDesk

Sept. 28 (BusinessDesk) - SmartPay Ltd. and Infratil Ltd. subsidiary Snapper have entered into a partnership which will see the companies rollout the contactless payment system across New Zealand's biggest Eftpos network. More >>

Investment welcome mat rolled out for Chinese Deputy Premier

Wednesday, 28 September 2011, 11:33 am | BusinessDesk

Sept. 28 (BusinessDesk) – The visiting Chinese Deputy Premiker, Hui Liangyu, got concrete proof that Chinese investment in New Zealand is welcomed, with the signing of a memorandum of understanding at the Prime Minister’s official residence in ... More >>

Nuplex pays A$23.5 mln for latest Aussie acquisition

Wednesday, 28 September 2011, 11:06 am | BusinessDesk

Sept. 28 (BusinessDesk) – Specialty chemicals maker Nuplex Industries Ltd. has paid A$23.5 million to buy rival Acquos Pty’s Masterbatch unit, its second Australian acquisition in three months. More >>

Former PGG Wrightson boss’s $3 mln golden handshake

Wednesday, 28 September 2011, 10:18 am | BusinessDesk

Sept. 28 (BusinessDesk) – Former PGG Wrightson Ltd. managing director Tim Miles received a $3 million payment when he unexpectedly left the company last year, according to the company’s annual report. More >>

Stocks to watch: FBU, GFF, NZF, PPL, VCT, WTL

Wednesday, 28 September 2011, 9:38 am | BusinessDesk

Sept. 28 (BusinessDesk) – The following stocks may be active on the New Zealand exchange after developments since the close of trading. All prices are in New Zealand dollars unless specified. More >>

NZ dollar rises on hopes Europe’s bail-fund will get bigger

Wednesday, 28 September 2011, 8:30 am | BusinessDesk

Sept. 28 (BusinessDesk) - The New Zealand dollar rose against the greenback, following equities and commodities higher, as hopes that policymakers will bow to pressure to increase the European Financial Stability Fund gathered momentum. More >>

While you were sleeping: Stocks rally as Greece approves tax

Wednesday, 28 September 2011, 8:13 am | BusinessDesk

Sept. 28 (BusinessDesk) – Equity markets rallied in Europe and the U.S., and commodity prices rose as the Greek parliament approved a new property tax, a key condition of gaining more financial aid for the debt-laden country. More >>

MARKET CLOSE: NZ stocks rise on euro hopes, weaker kiwi

Tuesday, 27 September 2011, 5:48 pm | BusinessDesk

MARKET CLOSE: NZ stocks rise on euro hopes, weaker kiwi; Skellerup gains, Pumpkin Patch falls More >>

NZ dollar snaps six-day decline on euro optimism

Tuesday, 27 September 2011, 5:30 pm | BusinessDesk

Sept. 27 (BusinessDesk) - The New Zealand dollar rose above 78 U.S. cents, snapping a six-day losing streak, as stock markets rallied on the prospect of a bail-out plan to ease Europe’s sovereign debt problems. More >>

UPDATED: Pumpkin Patch shares sink 10% on gloomy earnings

Tuesday, 27 September 2011, 2:35 pm | BusinessDesk

Sept. 27 (BusinssDesk) – Shares in Pumpkin Patch Ltd. dropped 10% after the children’s clothing retailer posted an annual loss as it booked charges to close its American stores and write off unprofitable British outlets. More >>

FX Networks posts $4.4mln loss, despite 51% revenue boost

Tuesday, 27 September 2011, 1:04 pm | BusinessDesk

Sept. 27 (BusinessDesk) – Rising finance costs saw FX Networks Ltd., the privately-held telecommunications infrastructure company, sink into the red in the year to March 31, even as it boosted sales 51%. More >>

Goodman Fielder to tap shareholders for A$259 mln

Tuesday, 27 September 2011, 12:35 pm | BusinessDesk

Sept. 27 (BusinessDesk) – Goodman Fielder Ltd., which posted a full-year loss after taking a charge against its baking division, plans to raise A$259 million via a discounted rights offer to strengthen its balance sheet. More >>

Resimac buys majority stake in NZF securitisation unit

Tuesday, 27 September 2011, 12:06 pm | BusinessDesk

Sept. 27 (BusinessDesk) – Resimac NZ Home Loans Ltd., a unit of the Australian non-bank lender, agreed to buy a majority stake in NZF Group’s securitisation operations to help recapitalise the ailing business. More >>

Midday update: Huljich pleads guilty to misleading investors

Tuesday, 27 September 2011, 11:53 am | BusinessDesk

Sept. 27 (BusinessDesk) – Former KiwiSaver scheme promoter Peter Huljich pleaded guilty to a charge of misleading investors who invested in Huljich Wealth Management’s retirement savings scheme, the New Zealand Herald reports. More >>

Pumpkin Patch turns to FY loss on store closures; CEO goes

Tuesday, 27 September 2011, 11:45 am | BusinessDesk

Sept. 27 (BusinessDesk) – Pumpkin Patch Ltd., the children’s clothing chain, turned to a full-year net loss after taking charges to close U.S. stores and write-off unprofitable U.K. outlets, and announced the departure of founding managing director ... More >>

Steel & Tube taps Janie Elrick as new CFO, company secretary

Tuesday, 27 September 2011, 10:15 am | BusinessDesk

Sept. 27 (BusinessDesk) - Steel & Tube Holdings, the construction materials supplier, said Janie Elrick will take up the reins as chief financial officer and company secretary as of December, filling a position that has been vacant since June 9. More >>