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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 1500]
Midday update: Ron Brierley accumulating Kirkcaldie shares
Tuesday, 13 September 2011, 11:56 am | BusinessDesk
Sept. 13 (BusinessDesk) – Veteran kiwi investor Ron Brierley has emerged as a substantial shareholder in Wellington’s oldest department store, NZX-listed Kirkcaldie & Stains Ltd. More >>
NZ food prices fall 1.3% in August, led by fruit, vegetables
Tuesday, 13 September 2011, 11:22 am | BusinessDesk
Sept. 13 (BusinessDesk) - New Zealand food prices came off the boil in August after seven consecutive months of gains, as costs fell in line with seasonal trends led by fruits and vegetables. More >>
Ron Brierley lifts stake in Kirkcaldie to 5.7%
Tuesday, 13 September 2011, 10:20 am | BusinessDesk
Sept. 13 (BusinessDesk) – Former Guinness Peat Group chairman Ron Brierley has emerged as a substantial holder of shares in upscale Wellington department store Kirkcaldie & Stains Ltd., lifting his stake to 5.7%. More >>
Stocks to watch: BTU, CEN, NZO, STH, TEL, TLS, TUR
Tuesday, 13 September 2011, 9:41 am | BusinessDesk
Sept. 13 (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 >>
(UPDATED) NZ dollar up as rates appeal, Europe stocks fall
Tuesday, 13 September 2011, 9:25 am | BusinessDesk
(Updates prices, fixes third paragraph to show Bollard expected to raise the OCR by 50 basis points) More >>
Telecom taps former general counsel Verbiest as new chairman
Tuesday, 13 September 2011, 9:19 am | BusinessDesk
Sept. 13 (BusinessDesk) – Telecom Corp. has tapped its former lawyer Mark Verbiest to head up a new board once the phone company carves itself in two. More >>
Fonterra would become foreign owned if it went public: Feds
Tuesday, 13 September 2011, 9:14 am | BusinessDesk
Sept. 13 (BusinessDesk) – Fonterra Cooperative Group would quickly succumb to foreign ownership if the world’s biggest dairy exporter went public, according to Federated Farmers’ new dairy spokesman Willy Leferink. More >>
NZ dollar gains as rates appeal, European stocks weaken
Tuesday, 13 September 2011, 8:41 am | BusinessDesk
Sept. 13 (BusinessDesk) - The New Zealand dollar rose against the greenback as the nation’s relatively appealing interest rates drew investors looking to avoid European markets where fears of a disorderly Greek default drove stocks and the euro lower. More >>
MARKET CLOSE: NZ stocks fall on Greek worries; AMP leads
Monday, 12 September 2011, 5:50 pm | BusinessDesk
MARKET CLOSE: NZ stocks fall on Greek worries; AMP leads decliners, NZ Oil & Gas rises More >>
Turners & Growers to appeal High Court ruling on Zespri
Monday, 12 September 2011, 5:36 pm | BusinessDesk
Sept. 12 (BusinessDesk) - Turners & Growers Ltd., the fruit marketer controlled by Guinness Peat Group, is appealing against a High Court decision to throw out its claims that Zespri Ltd. has abused its power as the kiwifruit exporting monopoly. More >>
NZ dollar falls to month-low amid Greek default fears
Monday, 12 September 2011, 5:21 pm | BusinessDesk
Sept. 12 (BusinessDesk) – The New Zealand dollar fell to a month-low as fears over a possible Greek default lingered into the local trading sessions, leaving investors looking to park their funds in so-called safe haven assets such as gold and the greenback. More >>
TV wunderkind Jason Paris moves to Telecom
Monday, 12 September 2011, 4:20 pm | BusinessDesk
Sept. 12 (BusinessDesk) – Telecom Corp. has picked up the high profile former chief executive at TV3, Jason Paris, as its new chief marketing officer. More >>
Lanzatech loss widens on legal fees, wage costs
Monday, 12 September 2011, 1:58 pm | BusinessDesk
Sept. 12 (BusinessDesk) – Lanzatech New Zealand Ltd., the bio-fuels company, widened its annual loss as legal bills and employment costs mounted. More >>
NZ Dollar Outlook: Kiwi may fall on Greek default fears
Monday, 12 September 2011, 1:18 pm | BusinessDesk
Sept. 12 (BusinessDesk) - The New Zealand dollar may fall this week, with the unstable global economic conditions likely to see the Reserve Bank keep rates on hold, and fears that Greece is set to default on its debt payment putting pressure on growth-linked ... More >>
(UPDATED) Southern Travel profit quest set back by disasters
Monday, 12 September 2011, 1:11 pm | BusinessDesk
Sept. 12 (BusinessDesk) – Southern Travel Holdings Ltd., the travel agent that gets the bulk of its sales from inbound tourists, reported a narrower full-year loss, saying disruptions from the Christchurch and Japanese earthquakes pushed back its ... More >>
Nufarm to beat underlying profit guidance, writes off A$28M
Monday, 12 September 2011, 12:47 pm | BusinessDesk
Sept. 12 (BusinessDesk) - Agricultural chemicals company Nufarm said underlying net profit is likely to exceed its guidance but the settlement of a disputed receivable will see it collect only about 23% of the amount originally billed. More >>
Early payout for Pike contractors proposed on insurance deal
Monday, 12 September 2011, 12:40 pm | BusinessDesk
Sept. 12 (BusinessDesk) – Pike River Coal Ltd. receivers have negotiated an $80 million full and final insurance payout deal which will see priority creditors paid in full and 29% shareholder New Zealand & Gas Ltd. facilitating an early payment ... More >>
Midday update: Insurers agree $80m payout on Pike River
Monday, 12 September 2011, 12:16 pm | BusinessDesk
Sept. 12 (BusinessDesk) – New Zealand Oil & Gas Ltd. shares jumped 5.9% to 72 cents in late morning trading on the NZX today as the company came out of a trading halt to announce an $80 million “full and final” insurance settlement relating ... More >>
Locals boost accommodation in July, foreign visitors dwindle
Monday, 12 September 2011, 11:28 am | BusinessDesk
Sept. 12 (BusinessDesk) – Local travellers boosted New Zealand’s accommodation numbers in July as the number of foreign visitors signing in at hotels, motels and hostels fell for an 11th month. More >>
Southern Travel quest for profits set back by disasters
Monday, 12 September 2011, 11:24 am | BusinessDesk
Sept. 12 (BusinessDesk) – Southern Travel Holdings Ltd., the travel agent that gets the bulk of its sales from inbound tourists, reported a narrower full-year loss, saying disruptions from the Christchurch and Japanese earthquakes pushed back its ... More >>
