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BusinessDesk - Latest News [Page 1514]

APN shares sink to record low after loss from writedowns

Thursday, 18 August 2011, 1:46 pm | BusinessDesk

Aug. 18 (BusinessDesk) - APN News & Media Ltd., the Australian publisher of the New Zealand Herald newspaper, posted a first-half loss after taking an impairment charge against its New Zealand metropolitan newspaper titles. The company’s shares ... More >>

AMP NZ first-half earnings drop on tighter profit margin

Thursday, 18 August 2011, 12:52 pm | BusinessDesk

Aug. 18 (BusinessDesk) – AMP Ltd.’s local unit reported a 32% decline in first-half earnings as the wealth manager and insurer dealt with dwindling profit margins. More >>

Asahi to buy Independent Liquor for $1.5B

Thursday, 18 August 2011, 12:43 pm | BusinessDesk

Aug. 18 (BusinessDesk)– Japanese brewer Asahi Group agreed to buy Independent Liquor Group for $1.5 billion, gaining New Zealand’s largest and Australia’s third-largest pre-mixed liquor company and extending its grip on the drinks market downunder. More >>

Port of Tauranga posts record profit

Thursday, 18 August 2011, 12:10 pm | BusinessDesk

Aug. 18 (BusinessDesk) – Port of Tauranga Ltd. reported record annual earnings on growth in volumes of logs, containers, fertiliser and dairy products, giving it the confidence to claim the title of New Zealand’s biggest port ahead of Ports ... More >>

Midday update: Aussie apple war ends

Thursday, 18 August 2011, 11:45 am | BusinessDesk

Aug 18 (BusinessDesk) – After more than a century, the stand-off between Australia and New Zealand over kiwi apples being exported across the Tasman is officially over. The Australian Trade Minister Craig Emerson announced the official lifting of the ... More >>

Bank of NZ in exec shuffle as two leaders leave, one arrives

Thursday, 18 August 2011, 11:07 am | BusinessDesk

Aug. 18 (BusinessDesk) –Bank of New Zealand, the local unit of National Australia Bank, has shuffled its leadership team as two top executives step down and the lender makes a new hire to run its strategy. More >>

Bridgecorp investors to get 3.5 cent payment this week

Thursday, 18 August 2011, 11:00 am | BusinessDesk

Aug. 18 (BusinessDesk) – Debenture holders in failed finance company Bridgecorp Ltd. will get a payment of 3.5 cents in the dollar this week, but not much more is in the pipeline. More >>

Nuplex to buy rival Acquos’s Masterbatch units

Thursday, 18 August 2011, 9:53 am | BusinessDesk

Aug. 18 (BusinessDesk) – Nuplex Industries Ltd., the specialty chemicals maker, has reached an agreement to buy rival Acquos Pty’s Masterbatch unit. More >>

Stocks to watch: AIR, FBU, NPX, NZO, NZX, SKC

Thursday, 18 August 2011, 9:45 am | BusinessDesk

Aug. 18 (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 >>

NZers support compulsion for KiwiSaver scheme, survey shows

Thursday, 18 August 2011, 9:03 am | BusinessDesk

Aug. 18 (BusinessDesk) – The majority of New Zealanders support some form of compulsory KiwiSaver membership though almost a third are distrustful that a government could change the rules to their disadvantage, a new survey shows. More >>

NZ dollar gains vs. greenback on US growth outlook

Thursday, 18 August 2011, 8:36 am | BusinessDesk

Aug. 18 (BusinessDesk) - The New Zealand dollar rose as the prospect of continuing weak U.S. economy eroded demand for the greenback. More >>

MARKET CLOSE: NZ stocks rise on earnings; Freightways leads

Wednesday, 17 August 2011, 5:49 pm | BusinessDesk

Aug. 17 (BusinessDesk) - New Zealand stocks rose, with strong earnings result from Fletcher Building Ltd. helping the exchange chalk up is fifth day of gains. Freightways Ltd. led gainers, and Argosy Property Trust fell. More >>

Taxpayers face shortfall on Equitable Mortgages guarantee

Wednesday, 17 August 2011, 2:52 pm | BusinessDesk

Aug. 17 (BusinessDesk) – Taxpayers face a loss on clawing back funds from failed lender Equitable Mortgages Ltd., according to the receiver’s second report. More >>

From the Farm: Are prices on the turn?

Wednesday, 17 August 2011, 2:47 pm | BusinessDesk

Prices of dairy products on average fell 0.9% in Fonterra’s latest online auction, the smallest decline in five sales. More >>

Midday update: Crane earnings boost Fletcher Building profit

Wednesday, 17 August 2011, 12:15 pm | BusinessDesk

Aug 17 (BusinessDesk) – New Zealand’s largest listed company, Fletcher Building Ltd., increased full-year net profit by 19% to $367 million, before one-off items, in the year to June 30, with the contribution from newly acquired Crane Group more ... More >>

NZ producer input and output prices rise in second quarter

Wednesday, 17 August 2011, 11:47 am | BusinessDesk

Aug. 17 (BusinessDesk) - New Zealand producer prices for inputs and outputs rose in the second quarter, largely on the back of increased fuel costs, although the pace was slower than in the first three months of the year. More >>

Fletcher Building FY profit rises 19% on Crane contribution

Wednesday, 17 August 2011, 10:12 am | BusinessDesk

Aug. 17 (BusinessDesk) – Fletcher Building Ltd. posted a 19% gain in full-year profit, before one-time items, as the contribution from newly acquired Crane Group more than made up for a drop in sales of building products. The shares rose after ... More >>