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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 1511]
High Court freezes Chow venture in dispute with architects
Wednesday, 24 August 2011, 9:47 am | BusinessDesk
Aug. 24 (BusinessDesk) – The High Court has frozen a Chow brothers’ venture without notice after a dispute between the Wellington brothel owners and their architects. More >>
Stocks to watch: AIR, AIA, MET, NZO, OGC, TEL, VHP
Wednesday, 24 August 2011, 9:36 am | BusinessDesk
Aug. 24 (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; weak US data spurs talk of further fed aid
Wednesday, 24 August 2011, 8:22 am | BusinessDesk
Aug. 24 (BusinessDesk) - The New Zealand dollar rose against the greenback on bets that weaker U.S. factory and home sales data will force Federal Reserve Chairman Ben Bernanke to unveil a third round of quantitative easing. More >>
MARKET CLOSE: NZ stocks fall as fears sap results optimism
Tuesday, 23 August 2011, 5:53 pm | BusinessDesk
MARKET CLOSE: NZ stocks fall as fears sap results optimism; F&P Healthcare falls, NZ Refining gains More >>
S&P ‘likely’ to cut Telecom to A- credit rating on demerger
Tuesday, 23 August 2011, 5:48 pm | BusinessDesk
Aug. 23 (BusinessDesk) – Standard & Poor’s is “likely” to cut Telecom Corp.’s long-term ‘A’ rating by at least a notch over the proposed structural split in its network and service units. More >>
SMELLIE ON SMEs: Hate selling? Getting used to it.
Tuesday, 23 August 2011, 5:36 pm | BusinessDesk
Aug 22 (BusinessDesk) – Making a sale can be the most exciting thing in the world. Yet for many a small business owner, it’s also the hardest thing in the world. Not just because customers are choosy and the competition is fierce, but also because ... More >>
Vital Healthcare boosts earnings 50% on fatter rental income
Tuesday, 23 August 2011, 5:33 pm | BusinessDesk
Aug. 23 (BusinessDesk) – Vital Healthcare Property Trust, whose unitholders will vote on whether to dump the manager at a special meeting, boosted adjusted earnings by 50% as it fattened its rental income on Australian acquisitions. More >>
Camera ban at Argosy AGM where unit-holders may vent
Tuesday, 23 August 2011, 4:42 pm | BusinessDesk
Aug. 23 (BusinessDesk) – Argosy Property Trust has banned cameras from its annual meeting where proposals to be voted on include dumping the current ANZ Bank manager, One Path, instead of a more conventional internalisation of the contract. More >>
Air NZ passenger numbers rise in July
Tuesday, 23 August 2011, 4:42 pm | BusinessDesk
Aug. 23 (BusinessDesk) – Air New Zealand Ltd., the national carrier, carried 2.8% more passengers last month than in July 2010 as domestic and trans-Tasman flights were more popular. More >>
NZ business managers trim view on inflation outlook
Tuesday, 23 August 2011, 4:04 pm | BusinessDesk
NZ business managers trim view on inflation outlook, see GDP speeding in next 12 months More >>
Midday update: Auckland Airport profit up 15% on retailing
Tuesday, 23 August 2011, 12:05 pm | BusinessDesk
Aug. 23 (BusinessDesk) – Auckland International Airport, the nation’s busiest gateway, posted a 15% gain in full-year earnings as its revamped terminals drove more income from retailing. Profit will rise again this year, chairwoman Joan Withers ... More >>
Building more homes is key to affordability, RBNZ says
Tuesday, 23 August 2011, 11:17 am | BusinessDesk
Aug. 23 (BusinessDesk) – Policy-makers need to focus on housing supply as they try to make homes more affordable, according to the Reserve Bank. More >>
Cavotec lifts first-half pre-FX profit 48% on better sales
Tuesday, 23 August 2011, 10:35 am | BusinessDesk
Aug. 23 (BusinessDesk) - Cavotec MSL Holdings reported a 48% rise in first-half profit before foreign exchange and fair value adjustments, reflecting a strong overall performance from its four industry groups. More >>
Auckland Airport underlying profit rises 15%, led by retail
Tuesday, 23 August 2011, 10:21 am | BusinessDesk
Aug. 23 (BusinessDesk) – Auckland International Airport Ltd. posted a 15% gain in underlying profit, driven by a jump in earnings from retailing from its new departures area and increased airfield income. More >>
Meridian profit falls 13%, wins $28mln in smelter settlement
Tuesday, 23 August 2011, 10:13 am | BusinessDesk
Aust 23 (BusinessDesk) – Low wholesale prices for electricity were a primary driver for a 13% drop in tax-paid profit for Meridian Energy Ltd., to $219.0 million in the year to June 30. More >>
Stocks to watch: AIA, CAV, CCC, HBY, MET, NZE, NZR, NPX, SKC
Tuesday, 23 August 2011, 9:41 am | BusinessDesk
Aug. 23 (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 >>
Metlifecare profit sinks 69% on lower property revaluation
Tuesday, 23 August 2011, 9:27 am | BusinessDesk
Aug. 23 (BusinessDesk) – Metlifecare Ltd., which sold its Merivale Retirement Village for $26 million in December, reported a 69% drop in full-year profit after booking a smaller gain in the value of its portfolio than in 2010. More >>
NZ dollar rises as equities gain on prospects for QE3
Tuesday, 23 August 2011, 8:28 am | BusinessDesk
Aug. 23 (BusinessDesk) - The New Zealand dollar rose against the greenback, ahead of the release of the Reserve Bank's household inflation expectations survey, as speculation for a third round of quantitative easing in the U.S. lifted equities. More >>
MARKET CLOSE: NZ stocks rise on earnings; Nuplex leads gains
Monday, 22 August 2011, 5:39 pm | BusinessDesk
Aug. 22 (BusinessDesk) - New Zealand stocks rose for the first time in three sessions, with a spate of stronger earnings helping the local bourse shake off a pull back in risk sentiment on global equity markets. Nuplex Industries Ltd. led gainers, and ... More >>
NZ Refining margins offsetting weak US dollar
Monday, 22 August 2011, 3:40 pm | BusinessDesk
Aug. 22 (BusinessDesk) – New Zealand Refining Co. is expecting strong refiner margins to continue through the current financial year, offsetting the impact of the weak U.S. dollar on earnings. More >>
