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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 1512]
Hellaby, on hunt for acquisitions, posts 49% profit jump
Monday, 22 August 2011, 3:02 pm | BusinessDesk
Aug. 22 (BusinessDesk) – Hellaby Holdings Ltd., the diversified investment group, posted a 49% increase in full-year profit on improved earnings from footwear and equipment, and lower interest costs after its raised equity capital and repaid debt. More >>
Regulator missing “big picture” on wool scouring monopoly
Monday, 22 August 2011, 2:32 pm | BusinessDesk
by Paul McBeth Aug. 22 (BusinessDesk) – The Commerce Commission erred in approving a bid by Cavalier Wool Holdings to create a wool scouring monopoly, and needed to look at the bigger picture, the High Court heard today. More >>
NZ dollar outlook: Kiwi may fall before Jackson Hole summit
Monday, 22 August 2011, 2:03 pm | BusinessDesk
Aug. 22 (BusinessDesk) - The New Zealand dollar may fall this week as investors, spooked by the prospect of the global economy slipping back into recession, continue to pull out of higher yielding, or riskier assets ahead of a central bankers' summit ... More >>
Contact hopes worst is over for customer losses
Monday, 22 August 2011, 1:58 pm | BusinessDesk
Aug 22 (BusinessDesk) – Contact Energy Ltd. believes it has stemmed the exodus of retail electricity customers to competitors over the past two months, and expects as many as 40% of its 456,000 customers to take up the company’s 22% discount for ... More >>
Fonterra scales back unprofitable organic dairy operations
Monday, 22 August 2011, 1:52 pm | BusinessDesk
Aug. 22 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest processor of milk, plans to scale back its unprofitable organic dairy operations amid waning public appetite to pay a premium for such products. More >>
Dorchester taps investors for more cash with $12M note offer
Monday, 22 August 2011, 12:21 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Dorchester Pacific Ltd., which avoided failure last year by convincing investors to accept a debt-for-equity swap, is seeking to raise a further $12 million via a convertible note issue after its banks passed on providing a debt ... More >>
Midday update: Nuplex shares on a tear after strong result
Monday, 22 August 2011, 12:06 pm | BusinessDesk
Aug 22 (BusinessDesk) – Shares in specialist resins maker Nuplex Industries Ltd. jumped 10.6% to $2.62 following a 3.6% increase in full-year profit, beating guidance and broker forecasts. More >>
Cavalier underlying profit rises 4% on demand in Australia
Monday, 22 August 2011, 11:27 am | BusinessDesk
Aug. 22 (BusinessDesk) - Carpet manufacturer Cavalier Corp. said normalised annual net profit and revenue rose 4%, thanks to a strong performance in Australia, while tax adjustments pushed the bottom line up 60%. More >>
Nuplex FY profit rises 3.6%, beating guidance as sales gain
Monday, 22 August 2011, 11:21 am | BusinessDesk
Aug. 22 (BusinessDesk) - Nuplex Industries Ltd. posted a 3.6% increase in full-year profit, beating its guidance, as sales rose and the specialty chemicals maker recognised fewer impairments and one-time costs. More >>
NZ Windfarms to protect Te Rere Hau from Windflow’s woes
Monday, 22 August 2011, 10:44 am | BusinessDesk
Aug 22 (BusinessDesk) – Concerns about the viability of NZAX-listed wind turbine pioneer Windflow Technology Ltd. have led New Zealand Windfarms Ltd. to buy a stock of strategic spare parts and an option to buy out Windflow’s maintenance operation ... More >>
Stocks to watch: AIR, CEN, FPH, FBU, NWF, SLG, TEN
Monday, 22 August 2011, 9:21 am | BusinessDesk
Aug. 22 (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 >>
Third year of flat earnings for Contact Energy
Monday, 22 August 2011, 9:13 am | BusinessDesk
Aug. 22 (BusinessDesk) – Wet weather, intense retail competition and the late commissioning of new peaking plant contributed to the third year in a row of flat earnings for Contact Energy Ltd. More >>
NZ dollar follows sharemarkets lower amid recession fears
Monday, 22 August 2011, 8:32 am | BusinessDesk
Aug. 22 (BusinessDesk) - The New Zealand dollar fell against the U.S. dollar after global equity markets surrendered last week's gains amid heightened recession fears. More >>
World Week Ahead: Behind the curve
Monday, 22 August 2011, 7:46 am | BusinessDesk
Aug. 22 (BusinessDesk) - The reality is that the vast majority of investors are in the same boat - the one that has been hit by rogue wave after rogue wave and even by waves that you can see coming but can do nothing to avoid. More >>
Asahi to force sale of remaining 4% in Charlie’s
Friday, 19 August 2011, 6:10 pm | BusinessDesk
Aug. 19 (BusinessDesk) – Japanese brewer Asahi Group will force the compulsory acquisition of just 4% of local juice-maker Charlie’s Group. More >>
MARKET CLOSE:Offshore jitters sap solid eearnings
Friday, 19 August 2011, 6:06 pm | BusinessDesk
Aug. 19 (BusinessDesk) - New Zealand stocks fell for a second session, with the malaise in offshore markets numbers taking the froth off a spate of stronger earnings. Goodman Fielder Ltd. fell after warning it would miss earnings targets and write down bakery ... More >>
Tenon posts $2M annual loss as sales slip, costs rise
Friday, 19 August 2011, 6:01 pm | BusinessDesk
Aug. 19 (BusinessDesk) – Tenon Ltd., the NZX-listed company that sells wood mouldings in the U.S., reported a full-year loss as sales fell, costs rose and it recognised a tax expense. More >>
F&P Healthcare flees from over-valued kiwi, trims guidance
Friday, 19 August 2011, 4:48 pm | BusinessDesk
Aug. 19 (BusinessDesk) – Fisher & Paykel Healthcare, whose strong sales growth in the U.S. is being clipped by an equally strong kiwi dollar, will expand production in Mexico and target sales growth in other currencies. More >>
NZ spending on credit cards increases in July
Friday, 19 August 2011, 4:47 pm | BusinessDesk
Aug. 19 (BusinessDesk) – New Zealanders spent more on their credit cards last month, according to central bank figures, a sign the gradual economic recovery is giving households confidence to hit the stores. More >>
MONEY TALKS: We get pension savings, why not the government?
Friday, 19 August 2011, 2:57 pm | BusinessDesk
A personal bugbear of mine is retirement savings. I suppose I’m a little miffed that I’m too young to be assured of ever seeing a public pension. But like most kiwis, I’m plucky enough to realise when I’m flogging a dead horse, so signed ... More >>
