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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 1501]
High Court knocks back Hubbard statutory managers' bid
Monday, 12 September 2011, 11:04 am | BusinessDesk
Sept. 12 (BusinessDesk) – The High Court knocked back a bid by the statutory managers of Allan Hubbard’s affairs to use his personal funds to meet their fees just two days before the Timaru businessman’s death. More >>
Big discounts stop Contact Energy’s customer free-fall
Monday, 12 September 2011, 10:43 am | BusinessDesk
Sept. 12 (BusinessDesk) – The most generous discounts available to electricity consumers have stopped the exodus of customers from Contact Energy Ltd., but at a cost estimated by market observers to be around $14 million a year. More >>
Stocks to watch: BGR, FPH, LME, PGC, RAK, TWR
Monday, 12 September 2011, 9:25 am | BusinessDesk
Sept. 12 (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 falls as investors prepare for Greek default
Monday, 12 September 2011, 8:19 am | BusinessDesk
Sept. 12 (BusinessDesk) - The New Zealand dollar fell against the greenback as investors fled to currency safe havens amid reports Germany was preparing for a Greek default. More >>
World Week Ahead: Germany’s discontent
Monday, 12 September 2011, 6:51 am | BusinessDesk
Sept. 12 (BusinessDesk) - As a sign of skepticism that policymakers can get ahead of the curve, President Barack Obama’s near half a trillion dollar proposed boost to the U.S. economy was dismissed almost as soon as he finished speaking. More >>
RWC opening night train debacle: blame the French!
Sunday, 11 September 2011, 4:02 pm | BusinessDesk
RWC opening night train debacle: blame the French! by Pattrick Smellie Sept. 11 (BusinessDesk) – French multi-national public transport provider Veolia Transdev has been left red-faced for failing to anticipate demand for train services on the opening night ... More >>
NZ dollar gains as RBNZ rate decision looms
Friday, 9 September 2011, 5:23 pm | BusinessDesk
Sept. 9 (BusinessDesk) - The New Zealand dollar rose as local markets wait for next week’s monetary policy statement. More >>
MARKET CLOSE: NZ shares rise; Briscoe up on earnings
Friday, 9 September 2011, 5:22 pm | BusinessDesk
Sept. 9 (BusinessDesk) – New Zealand shares rose as investors weighed conflicting corporate and economic reports at the end of a week in which appetite for risk improved. Briscoe Group gained after posting higher earnings and Pyne Gould Corp. fell. More >>
Court orders end Hubbard case
Friday, 9 September 2011, 5:00 pm | BusinessDesk
Sept. 9 (BusinessDesk) – All charges against Allan Hubbard, the owner of collapsed South Canterbury Finance Ltd., have been dropped by order of the Timaru District Court, after his death following a car accident near Oamaru last Friday. More >>
MONEY TALKS: Local corporate bonds stand up in nervous times
Friday, 9 September 2011, 4:30 pm | BusinessDesk
Sept. 9 (BusinessDesk) – Bonds should always be a part of your investment portfolio. That seems to go without saying among financial guru types, but if you need a little shove over the edge, now is probably the time. Interest rates are low. In fact they’re ... More >>
2degrees shareholders still pumping in funds
Friday, 9 September 2011, 3:56 pm | BusinessDesk
Sept. 9 (BusinessDesk) – Shareholders in mobile operator Two Degrees Mobile Ltd. are still injecting new cash, with another three issues between June and August. More >>
Briscoe 1H profit rises 11% on sales growth, fatter margins
Friday, 9 September 2011, 2:01 pm | BusinessDesk
Sept. 9 (BusinessDesk) – Briscoe Group Ltd., the home-wares and sports goods retailer, posted an 11% gain in first-half profit and raised its dividend, saying its marketing strategy was boosting its share of a tough retail sector. More >>
Midday update: Obama extends US$447bln olive branch
Friday, 9 September 2011, 12:20 pm | BusinessDesk
Sept. 9 (BusinessDesk) – U.S. President Barack Obama has unveiled his latest gambit for ending the political disunity that is worsening the economic under-performance of the world’s largest economy. Some half of the value of the US$447 billion package ... More >>
Telecom beats critics with early release of Reynolds’ pay
Friday, 9 September 2011, 11:35 am | BusinessDesk
Sept. 9 (BusinessDesk) – Telecom Corp. chief executive Paul Reynolds was paid $5.2 million in the year ended June 30, more than 100 times the average wage, according to figures released by New Zealand’s biggest phone company today. More >>
Plastic stays in wallets ahead of Rugby World Cup
Friday, 9 September 2011, 11:27 am | BusinessDesk
Kiwis keep the plastic in their wallets ahead of Rugby World Cup Sept. 9 (BusinessDesk) – New Zealanders clamped down on credit and debit card spending last month, in the lead-up to the Rugby World Cup tournament, which kicks off today. More >>
Pyne Gould faces loss of $141.1 mln on restructuring
Friday, 9 September 2011, 10:19 am | BusinessDesk
Sept. 9 (BusinessDesk) – Pyne Gould Corp., which put off filing its financial statements because of the Christchurch earthquakes, faces an annual net loss of $141.1 million on restructuring that carved out its Marac finance unit. More >>
Trade Me may look for offshore growth, Fairfax CEO says
Friday, 9 September 2011, 9:55 am | BusinessDesk
Sept. 9 (BusinessDesk) – The board of a partially-floated Trade Me Ltd. may look outside New Zealand to boost growth, according to the boss of owner Fairfax Media Ltd. More >>
Stocks to Watch: APN, BLT, FBU, KRK, OGC, POT, RAK
Friday, 9 September 2011, 9:44 am | BusinessDesk
Sept. 9 (BusinessDesk) – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. More >>
NZ dollar gains vs. euro on Greek debt, ECB's neutral stance
Friday, 9 September 2011, 8:48 am | BusinessDesk
Sept. 9 (BusinessDesk) - The New Zealand dollar gained against the euro and was little changed against the greenback after the European Central Bank indicated a pause in interest rate increases and fears swirled that Greece won't meet the conditions for ... More >>
Bollard still seen lifting rates this year, if not next week
Friday, 9 September 2011, 8:20 am | BusinessDesk
Sept. 9 (BusinessDesk) - Reserve Bank Governor Alan Bollard is expected to keep the official cash rate unchanged next week while signalling the stimulus of a record-low OCR will be removed sooner rather than later as inflation pressures start to stir. More >>
