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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 1499]
MARKET CLOSE: NZ stocks fall on Europe's debt woes
Wednesday, 14 September 2011, 5:57 pm | BusinessDesk
MARKET CLOSE: NZ stocks fall on Europe's debt woes; NZ Oil & Gas drops, Methven gains More >>
NZ dollar drops below 82 US cts ahead of RBNZ rate review
Wednesday, 14 September 2011, 5:30 pm | BusinessDesk
Sept. 14 (BusinessDesk) - The New Zealand dollar dropped below 82 U.S. cents ahead of tomorrow’s interest rate review, where the Reserve Bank is expected to keep the official cash rate on hold. More >>
Breakthroughs in Aussie market for SmartPay, Tait
Wednesday, 14 September 2011, 5:12 pm | BusinessDesk
Sept. 14 (BusinessDesk) – New Zealand technology firms SmartPay Ltd. and Tait Radio Communications Ltd. are celebrating breakthroughs into the Australian market as banks and state governments accept their technologies for use across the Ditch. More >>
NZ tax case may deter Australian investment: Ernst & Young
Wednesday, 14 September 2011, 4:29 pm | BusinessDesk
Sept. 14 (BusinessDesk) – Australian companies’ willingness to invest in New Zealand businesses will be placed at risk if the Inland Revenue Department wins its latest tax avoidance test case, says Kirsty Keating, an executive director at accounting ... More >>
SFO charges seven people with defrauding Motor Trade Finance
Wednesday, 14 September 2011, 2:56 pm | BusinessDesk
Sept. 14 (BusinessDesk) – The Serious Fraud Office has charged seven people with defrauding car financier Motor Trade Finance Ltd. of some $4.9 million. More >>
From The Farm: Selling the family silver
Wednesday, 14 September 2011, 1:26 pm | BusinessDesk
I was left scratching my head over two recent media statements on the future of Fonterra. Willy Leferink, the dairy spokesman at Federated Farmers, warned this week that New Zealand’s biggest company would quickly become foreign owned if it were to go public. More >>
FMA targeting Xmas prosecutions on finance company 'stench'
Wednesday, 14 September 2011, 12:58 pm | BusinessDesk
Sept. 14 (BusinessDesk) – The Financial Markets Authority is aiming to decide before Christmas whether to lay prosecutions or drop five of its 16 remaining investigations into the “stench” caused by finance company collapses by Christmas, with progress ... More >>
Midday update: Telecom demerger process moves up a gear
Wednesday, 14 September 2011, 12:14 pm | BusinessDesk
Sept. 14 (BusinessDesk) – Telecom Corp.’s formal process for splitting itself in two has stepped up a gear with the release of demerger documents to shareholders and the receipt of approvals from sterling bondholders for the carve-up to go ahead. ... More >>
Renaissance shares surge on distribution unit approach
Wednesday, 14 September 2011, 11:25 am | BusinessDesk
Sept. 14 (BusinessDesk) - Shares in Renaissance Corp., the electronics and computer retailer, surged 18% after the company said it had received an approach to buy its distribution business. More >>
Comvita looking to strongest first-half for two years
Wednesday, 14 September 2011, 10:48 am | BusinessDesk
Comvita looking to strongest first-half for two years Sept. 14 (BusinessDesk) – Comvita Ltd., the manuka honey wound care manufacturer, says first-half profit will be the best in at least two years, and is pointing to an annual profit of as much ... More >>
Telecom gains sterling bond holder consent for Chorus swap
Wednesday, 14 September 2011, 10:48 am | BusinessDesk
Sept. 14 (BusinessDesk) – Telecom Corp. has gained approval from holders of two issues of British pound-denominated bonds to exchange the securities for notes in its Chorus network business once New Zealand’s biggest phone company is split in ... More >>
SFO lays 60 charges against Belgrave director, associates
Wednesday, 14 September 2011, 10:22 am | BusinessDesk
Sept. 14 (BusinessDesk) – The Serious Fraud Office is pursuing former Belgrave Finance Ltd. director Stephen Smith and his associated Raymond Schofield over $18 million of loans between the failed lender and related parties. More >>
Orion Minerals, sitting on cash, still seeking investments
Wednesday, 14 September 2011, 10:07 am | BusinessDesk
Sept. 14 (BusinessDesk) - Orion Minerals Group, which abandoned efforts to mine iron ore in Chile and pulled out of a proposal to invest in a Chinese home fittings business, says it is still looking for investment opportunities. More >>
Stocks to watch: KRK, OMG, SKC, TEL, TLS, WTL
Wednesday, 14 September 2011, 9:33 am | BusinessDesk
Sept. 14 (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 equities gain on Greek bailout hopes
Wednesday, 14 September 2011, 8:25 am | BusinessDesk
Sept. 14 (BusinessDesk) - The New Zealand dollar rose against the greenback as equity markets climbed on hopes European officials would provide further support to Greece in order to prevent it defaulting on its debt payments. More >>
MARKET CLOSE: NZ stocks rise, paced by Telecom, Nuplex
Tuesday, 13 September 2011, 5:57 pm | BusinessDesk
Sept. 13 (BusinessDesk) - New Zealand stocks rose, paced by Telecom Corp., after the phone company released details of costs for its demerger that met analyst expectations. Nuplex Industries led the advance. More >>
NZ dollar pares gains as English says low rates here to stay
Tuesday, 13 September 2011, 5:49 pm | BusinessDesk
Sept. 13 (BusinessDesk) – The New Zealand dollar, which jumped almost 1 U.S. cent after reports of Chinese interest in troubled Italian government bonds, pared its gains as Finance Minister Bill English said interest rates will remain low. More >>
Windflow Technology outlines hand-to-mouth survival plan
Tuesday, 13 September 2011, 3:53 pm | BusinessDesk
Sept. 13 (BusinessDesk) – Embattled wind turbine pioneer Windflow Technology Ltd. is down to $400,000 in the kitty and needs to raise $2.4 million from existing shareholders and other sources to keep going until next January. More >>
Auckland and Christchurch leading housing market in August
Tuesday, 13 September 2011, 1:59 pm | BusinessDesk
Sept. 13 (BusinessDesk) – House sales and prices in Auckland and Christchurch are driving such strength as there was in the national housing market in August, according to new statistics from both Quotable Value New Zealand and the Real Estate Institute ... More >>
Telecom split may cost up to $150M, benefits could be $500M
Tuesday, 13 September 2011, 1:00 pm | BusinessDesk
Sept. 13 (BusinessDesk) – Splitting Telecom Corp. into its retail and network businesses may cost as much as $150 million though the estimated benefits of the plan are more than three times as great, company documents show. More >>
