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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 1496]
Stocks to watch: AIR, CEN, FPH, KMD, RBD, RIS
Wednesday, 21 September 2011, 9:39 am | BusinessDesk
Sept. 21 (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 as Fed policy meeting begins, stocks edge up
Wednesday, 21 September 2011, 8:19 am | BusinessDesk
Sept. 21 (BusinessDesk) - The New Zealand dollar rose against the greenback with investors' appetite for higher yielding, or riskier, assets buoyed by speculation that the U.S. Federal Reserve will act to boost the world's biggest economy. More >>
Fonterra dairy product prices extend slide for seventh sale
Wednesday, 21 September 2011, 7:27 am | BusinessDesk
Sept. 21 (BusinessDesk) – Average prices of dairy products extended their slide for a seventh straight sale at Fonterra Cooperative Group’s latest online auction, to reach a 13-month low. The GDT-TWI Price Index fell 2.1%, according to results ... More >>
MARKET CLOSE: NZ stocks gain amid Italian rating cut jitters
Tuesday, 20 September 2011, 6:02 pm | BusinessDesk
Sept. 20 (BusinessDesk) - New Zealand stocks edged up amid cautious investor sentiment after Standard & Poor's downgraded the Italian government's credit rating, sparking fears Europe’s debt crisis may be spreading to core members. Kathmandu Holdings ... More >>
Michael Fay and Maori make $171.5 mln offer for Crafar farms
Tuesday, 20 September 2011, 5:45 pm | BusinessDesk
Michael Fay-led syndicate makes $171.5 mln offer for Crafar farms Sept.20 (BusinessDesk) – A syndicate of local iwi and farmers led by expatriate NBR Richlister Michael Fay have lodged a $171.5 million bid for the Crafar family farms. Fay’s group, ... More >>
NZ dollar drops to week-low vs USD on Italian rating cut
Tuesday, 20 September 2011, 5:36 pm | BusinessDesk
Sept. 20 (BusinessDesk) - The New Zealand dollar fell to a week-low of 81.76 U.S. cents after Standard & Poor’s cut Italy’s credit rating amid the ongoing problems with Europe’s sovereign debt. More >>
Midday update: AMI documents Chch quake hit of $760mln
Tuesday, 20 September 2011, 12:05 pm | BusinessDesk
Sept. 20 (BusinessDesk) – The Canterbury earthquakes have delivered a $760 million hit to the books of Christchurch-based AMI Insurance Ltd., which unveiled a $704.6 million loss for the year to June 30 this morning. The result compares with a $31.3 ... More >>
Restaurant Brands' second-quarter sales fall 6.5%
Tuesday, 20 September 2011, 11:59 am | BusinessDesk
Sept. 20 (BusinessDesk) - Restaurant Brands NZ Ltd., the fast food franchise operator, reported a 6.5% drop in second-quarter sales on the weaker retail environment, the impact of the Christchurch earthquakes and continued store closures. The shares fell ... More >>
Air NZ passenger numbers rose in August on short-haul routes
Tuesday, 20 September 2011, 10:52 am | BusinessDesk
Sept. 20 (BusinessDesk) – Air New Zealand Ltd. lifted passenger numbers by 2.7% in August as an increase in volumes on domestic and trans-Tasman routes more than made up for a decline on long-haul routes. More >>
AMI plunges into the red on $760 mln charge for quake costs
Tuesday, 20 September 2011, 10:52 am | BusinessDesk
Sept. 20 (BusinessDesk) – AMI Insurance Ltd., the Christchurch insurer that sought government support after the Canterbury earthquakes, sank into the red after booking a $760 million charge on claims from the quakes. More >>
Rockforte receivers says recoveries may be 5 cents in dollar
Tuesday, 20 September 2011, 10:20 am | BusinessDesk
Sept. 20 (BusinessDesk) – The receivers for failed Gisborne lender Rockforte Finance Ltd. have halved their forecast for potential recoveries to less than 5 cents in the dollar and filed proceedings against the firm’s directors. More >>
Stocks to watch: FPH GFF, KMD, OGC, SAM, SAT
Tuesday, 20 September 2011, 9:45 am | BusinessDesk
Sept. 20 (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 >>
Bondholders in failed St Laurence unit face $23M shortfall
Tuesday, 20 September 2011, 9:18 am | BusinessDesk
Sept. 19 (BusinessDesk) – Bondholders in the failed St Laurence Property Development Fund Ltd. are facing a shortfall after the company was put into liquidation last month. More >>
NZ dollar rises as stocks pare losses on Greek funding hopes
Tuesday, 20 September 2011, 8:25 am | BusinessDesk
Sept. 20 (BusinessDesk) - The New Zealand dollar rose against the greenback, after the latest bid by Greek officials to convince international lenders that they had a credible financial plan to narrow their deficit saw Wall Street pare losses. More >>
(UPDATED) MARKET CLOSE: NZ stocks slip on Euro worries
Monday, 19 September 2011, 6:52 pm | BusinessDesk
Sept. 19 (BusinessDesk) - New Zealand stocks fell, after a meeting of Europe's finance ministers over the weekend failed to deliver any new policy responses, sparking fresh fears the euro zone crisis is tipping the global economy into recession. OceanaGold ... More >>
MARKET CLOSE: NZ stocks slip on Euro woes; OceanaGold leads
Monday, 19 September 2011, 5:56 pm | BusinessDesk
Sept. 19 (BusinessDesk) - New Zealand stocks fell, after a meeting of Europe's finance ministers over the weekend failed to deliver any new policy responses, sparking fresh fears the euro zone crisis is tipping the global economy into recession. OceanaGold ... More >>
NZ dollar falls; Greek default fears keep investors on edge
Monday, 19 September 2011, 5:36 pm | BusinessDesk
Sept. 19 (BusinessDesk) – The New Zealand dollar fell, with investors’ nerves on edge after a meeting of European officials failed to make any inroads on the threat of a Greek default. More >>
SMELLIE ON SMEs: Simpler financial reporting rules loom
Monday, 19 September 2011, 2:43 pm | BusinessDesk
Sept. 19 (BusinessDesk) – Small and medium-sized business owners should be pleased to see proposals from the government to make financial reporting obligations under the Companies Act less onerous. Instead of having to prepare and lodge annual accounts ... More >>
Labour pitches 'intervention' to assist quake residents
Monday, 19 September 2011, 2:20 pm | BusinessDesk
Sept. 19 (BusinessDesk) – A Labour-led government would be willing to intervene in the insurance market “on a short term basis” to resolve the current stand-off between homeowners waiting for payouts and insurers. More >>
NZ Dollar Outlook: Kiwi seen in range in data-heavy week
Monday, 19 September 2011, 2:04 pm | BusinessDesk
NZ Dollar Outlook: Kiwi seen caught in range in data-heavy week as Euro fears linger More >>
