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BusinessDesk - Latest News [Page 1507]

Govt to control where oil companies explore

Tuesday, 30 August 2011, 9:42 am | BusinessDesk

Aug. 30 (BusinessDesk) – Oil companies wanting to explore in New Zealand will be restricted only to areas nominated annually by the government after consultation with both the industry and potentially affected communities. More >>

Joyce signs off on Telecom carve-up

Tuesday, 30 August 2011, 9:38 am | BusinessDesk

Aug. 30 (BusinessDesk) – Telecom Corp.’s proposed demerger is another step down the track after Communications Minister Steven Joyce signed off on the phone company’s proposal to split its assets. More >>

Stocks to watch: ALF, GFF, NZS, PGW, POT, PPG, TWR, TUR

Tuesday, 30 August 2011, 9:14 am | BusinessDesk

Aug. 30 (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 >>

Allied Farmers posts $43M loss on more Hanover writedowns

Tuesday, 30 August 2011, 9:07 am | BusinessDesk

Aug. 29 (BusinessDesk) – Allied Farmers Ltd. posted a full-year loss as it wrote off another $29.7 million from the value of its toxic Hanover and United Finance loans. More >>

NZ dollar gains on Greek bank deal, U.S. retail spending

Tuesday, 30 August 2011, 8:27 am | BusinessDesk

Aug. 30 (BusinessDesk) - The New Zealand dollar rose against the greenback after news of a Greek bank merger and stronger-than-expected U.S. consumer spending figures spurred investors' appetite for higher-yielding, or riskier, assets such as equities ... More >>

MARKET CLOSE: NZ stocks rise; Port of Tauranga paces gainers

Monday, 29 August 2011, 6:04 pm | BusinessDesk

Aug. 29 (BusinessDesk) - New Zealand stocks rose, with Port of Tauranga Ltd. pacing gainers on its forecast for container volumes to increase by quarter after the world's second-biggest shipping line add the post to its list of international destinations. ... More >>

SMELLIE ON SMEs: Hiring for sales, as the economy picks up

Monday, 29 August 2011, 5:36 pm | BusinessDesk

Aug 29 (BusinessDesk) – Wallets are opening again across the nation. According to Statistics New Zealand, retail sales in the three months to June were a bit stronger than expected. More >>

Turners & Growers in talks with suitors, triples 1H profit

Monday, 29 August 2011, 5:06 pm | BusinessDesk

Aug. 29 (BusinessDesk) – Turners & Growers Ltd., the fruit marketer controlled by Guinness Peat Group, tripled first-half profit and flagged better annual earnings, as its major shareholder talks to potential buyers of the stake. More >>

Tower says FY earnings to meet forecast, Gibbs resigns

Monday, 29 August 2011, 4:58 pm | BusinessDesk

Aug. 29 (BusinessDesk) – Tower Ltd., the insurer controlled by Guinness Peat Group, annual earnings are likely to meet analyst estimates this year. Separately, chairman Tony Gibbs resigned. More >>

Postie Plus 4th-qtr sales drop 6.3% on warm start to winter

Monday, 29 August 2011, 4:44 pm | BusinessDesk

Postie Plus 4th-qtr sales drop 6.3% on warm start to winter, flags full-year profit gain More >>

Skyline buys Totally Tourism, gains former Hubbard assets

Monday, 29 August 2011, 3:43 pm | BusinessDesk

Aug. 29 (BusinessDesk) – Skyline Enterprises Ltd. has agreed to buy Queenstown-based rival Totally Tourism Ltd., including the Glacier Helicopters business once co-owned by Allan Hubbard’s Helicopters (NZ) Ltd. More >>

NZ Dollar Outlook: Kiwi may extend gains after Jackson Hole

Monday, 29 August 2011, 2:39 pm | BusinessDesk

Aug. 29 (BusinessDesk) - The New Zealand dollar may rise this week after Federal Reserve Chairman Ben Bernanke told a Jackson Hole summit of central bankers that the U.S. economy is still growing, giving investors more optimism to buy growth assets ... More >>

KiwiRail results show impact of quakes, Pike failure

Monday, 29 August 2011, 2:31 pm | BusinessDesk

Aug. 29 (BusinessDesk) – KiwiRail, the state-owned railway, lifted operating revenue on improvements in freight, the Interislander and network, while net profit tumbled as grant income fell and it transferred Wellington commuter assets to the local council. More >>

Goodman Fielder underlying annual profit fell 17.3%

Monday, 29 August 2011, 1:39 pm | BusinessDesk

Aug. 29 (BusinessDesk) - Goodman Fielder Ltd., the food manufacturer whose brands include Edmonds baking products and Vogel’s bread, said underlying annual net profit fell 17.3% after a significant decline in the second half, particularly in its baking ... More >>

PGG Wrightson posts $30.7 mln loss on wool, meat charges

Monday, 29 August 2011, 1:31 pm | BusinessDesk

Aug. 29 (BusinessDesk) – PGG Wrightson Ltd., the rural services company that sold its finance unit to Heartland New Zealand Ltd., posted a loss after writing down its wool business and supply contract to Silver Fern Farms Ltd. and other one-time ... More >>

Farming Systems widens loss on feed costs, farm operations

Monday, 29 August 2011, 1:22 pm | BusinessDesk

Aug. 29 (BusinessDesk) – NZ Farming Systems Uruguay Ltd., the South American dairy farmer controlled by Singapore’s Olam International Ltd., said its annual loss widened after it spent more on feed and running its farms. It will return to profit ... More >>

Midday update: Energy Mad kicks off first NZX IPO for 2011

Monday, 29 August 2011, 12:16 pm | BusinessDesk

Aug 29 (BusinessDesk) – Applications for shares in the initial public offering by energy efficient lightbulb maker Energy Mad Ltd. opened this morning, with the company seeking up to $6 million in $1 shares. Pitched to investors as a marketing ... More >>