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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 1505]
Lanzatech snares U.S. govt funding for drop-in jet fuel
Friday, 2 September 2011, 9:12 am | BusinessDesk
Sept. 2 (BusinessDesk) – Auckland-based bio-fuels pioneer Lanzatech New Zealand Ltd. has secured more American government funding to explore a “drop-in” fuel replacement for conventional jet fuel. More >>
NZ dollar creeps above 85 US cts ahead of US employment data
Friday, 2 September 2011, 8:36 am | BusinessDesk
Sept. 1 (BusinessDesk) - The New Zealand dollar rose against the greenback above 85 U.S. cents amid nervous sentiment on global equity markets nervous ahead of non-farm payrolls data out the U.S. later today. More >>
Struggling Windflow announces novel capital-raising plans
Thursday, 1 September 2011, 7:00 pm | BusinessDesk
Sept. 1 (BusinessDesk) – Windflow Technology Ltd. is going back to shareholders for more capital, to fund the sale of its intellectual property, having exhausted $3.3 million raised in a $5 million offer of rights last November. More >>
NZ Super Fund has its best year, makes 25% annual return
Thursday, 1 September 2011, 6:17 pm | BusinessDesk
Sept. 1 (BusinessDesk) – The New Zealand Superannuation Fund made its biggest annual return since establishment eight years ago, making 25% after fees from riding the rebound in global equities. More >>
MARKET CLOSE: NZ shares rise for 2nd day as dividends appeal
Thursday, 1 September 2011, 5:42 pm | BusinessDesk
MARKET CLOSE: NZ shares rise for second day as dividends appeal, NZX leads, Heartland falls More >>
CORRECTION: Huhtamaki NZ earnings fall 10%
Thursday, 1 September 2011, 2:52 pm | BusinessDesk
Sept. 1 (BusinessDesk) – Finnish packaging company Huhtamaki Oyj local earnings fell 10% in the 2010, even without the loss-making New Lynn plan which it plans to shut down. More >>
NZ export prices already falling from terms of trade high
Thursday, 1 September 2011, 1:32 pm | BusinessDesk
NZ export prices already falling from terms of trade high Sept. 1 (BusinessDesk) – New Zealand commodity prices fell for a third month in August with the price of milk powder falling from a peak in March, according to the ANZ Commodity Price ... More >>
Midday update: Housing market warming up
Thursday, 1 September 2011, 11:57 am | BusinessDesk
Sept. 1 (BusinessDesk) – House prices look likely to rise by about 3% over the coming year, as historically low numbers of homes listed for sale coincides with growing buyer demand, says ASB Bank, based on the latest national inventory statistics ... More >>
Huhtamaki to shut plant after local earnings fall 10%
Thursday, 1 September 2011, 11:49 am | BusinessDesk
Sept. 1 (BusinessDesk) – Finnish packaging company Huhtamaki Oyj’s decision to shut its New Lynn plant comes after local earnings fell 10% last year. More >>
NZ terms of trade at 37-year high on strong dairy prices
Thursday, 1 September 2011, 11:48 am | BusinessDesk
Sept. 1 (BusinessDesk) – New Zealand’s terms of trade – the amount of imports that can be funded by a fixed quantity of exports – rose to its highest level in 37 years in the second quarter, driven by gains in export prices of dairy products, ... More >>
Securities law reform needs stronger analysts and media
Thursday, 1 September 2011, 10:49 am | BusinessDesk
Sept. 1 (BusinessDesk) – Securities law reform will be a “necessary but not sufficient” condition for improving investor confidence, unless New Zealand’s weak securities analysis sector and financial media improve, the New Zealand Institute of Finance ... More >>
Landcorp sees Fonterra payout reaching high water mark
Thursday, 1 September 2011, 10:17 am | BusinessDesk
Sept. 1 (BusinessDesk) – Landcorp Farming Ltd., New Zealand’s biggest farm business, expects Fonterra Cooperative Group’s payout to slip next year and its own earnings from beef exports to fall, reflecting the high kiwi dollar. More >>
Kordia posts annual loss of $14.7 mln on analogue charge
Thursday, 1 September 2011, 10:17 am | BusinessDesk
Sept. 1 (BusinessDesk) – Kordia Group, the state-owned communications, made an annual loss of $14.7 million as it wrote down the value of an ageing analogue network ahead of the switch to digital television next year. More >>
Tax change furthers NZ financial hub potential
Thursday, 1 September 2011, 10:00 am | BusinessDesk
Sept. 1 (BusinessDesk) – Little-noticed tax changes signed into law this week are a key step in allowing New Zealand to offer back-office financial market services in the Asia-Pacific region, says Craig Stobo, chair of the government-appointed task ... More >>
Stocks to watch: ARG, FPA, NZX, RAK, TEL, TLS
Thursday, 1 September 2011, 9:20 am | BusinessDesk
Sept. 1 (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 slips, but holds onto gains as equities rally
Thursday, 1 September 2011, 8:28 am | BusinessDesk
Sept. 1 (BusinessDesk) - The New Zealand dollar slipped from its recent highs against the greenback, but held onto most of yesterday's gains as global equities continued to recover from their August losses. More >>
NZ doesn’t have migration, Australia as buffers in downturn
Wednesday, 31 August 2011, 5:49 pm | BusinessDesk
Aug. 31 (BusinessDesk) – The local economy was sheltered from the global financial crisis three years ago by Australia’s strength and a flood of new migrants, but that has disappeared and the recovery will be a slow one, according to the New Zealand ... More >>
MARKET CLOSE: NZ shares gain at close; Tower up, Rakon down
Wednesday, 31 August 2011, 5:44 pm | BusinessDesk
Aug. 31 (BusinessDesk) - New Zealand shares rose on the day after a late rally by companies including Tower Ltd., Heartland New Zealand and Contact Energy Ltd. as the prospect of dividends and the emergence of bargain hunters helped lift the NZXZ ... More >>
New Telecom companies likely to have lower credit ratings
Wednesday, 31 August 2011, 3:47 pm | BusinessDesk
Aug. 31 (BusinessDesk) - Should Telecom Corp.'s demerger into separate services and network companies proceed, both companies are likely to have lower credit ratings than the phone company currently enjoys. More >>
Weldon backs banks with local links to win SOE mandates
Wednesday, 31 August 2011, 3:44 pm | BusinessDesk
Aug. 31 (BusinessDesk) – NZX Ltd. chief executive Mark Weldon is backing investment banks with local offices to win mandates in the government’s plan to sell up to half of its stake in certain state-owned enterprises. More >>
