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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 1516]
Freightways lifts underlying annual profit 7%
Monday, 15 August 2011, 11:40 am | BusinessDesk
Aug. 15 (BusinessDesk) – Freightways Ltd., the courier and data management company, lifted underlying annual net profit 7% from a combination of volume and pricing increases as well as new business. More >>
NZ service sector expansion keeps economy on track
Monday, 15 August 2011, 11:18 am | BusinessDesk
Aug. 15 (BusinessDesk) – New Zealand’s service sector grew for a sixth month in July in a sign the economic recovery has enough momentum to ride out the latest bout of global volatility. More >>
WEEKLY SPORTS DIGEST: Stoner completes sixth win
Monday, 15 August 2011, 10:53 am | BusinessDesk
15/08/11 Executive sport summary – An overview of the major sporting events – Results, key moments and talking points – Everything you need to know to foot it at the water cooler this week. More >>
Serepisos bankruptcy bid on hold until Friday
Monday, 15 August 2011, 10:47 am | BusinessDesk
Aug. 15 (BusinessDesk) – Wellington property developer and Phoenix owner Terry Serepisos will face bankruptcy proceedings on Friday after yesterday’s snow flurries stalled finalising an agreement with his creditors. More >>
NZX first-half profit falls 21%, Grain Exchange outlook cut
Monday, 15 August 2011, 10:43 am | BusinessDesk
Aug. 15 (BusinessDesk) – NZX Ltd., the securities market operator, posted a 21% decline in first-half profit, mainly reflecting foreign exchange contract and accounting charges while revenue rose. More >>
Stocks to watch: CHA, FPH, HNZ, SEK, TEL, WFD
Monday, 15 August 2011, 9:38 am | BusinessDesk
Aug. 15 (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 as global equities claw back some ground
Monday, 15 August 2011, 8:19 am | BusinessDesk
Aug. 15 (BusinessDesk) - The New Zealand dollar rose against the greenback after global equity markets continued to claw back some of the ground they lost in the wake of the massive sell down triggered by the U.S credit rating downgrade. More >>
Datacom March year profit falls 26% on one-time costs, sales
Monday, 15 August 2011, 7:32 am | BusinessDesk
Aug. 15 (BusinessDesk) - Datacom Group, the biggest New Zealand-owned IT firm, posted a 26% decline in annual profit on one-time costs for depreciation and the closure of its Sydney-based software development business. More >>
World Week Ahead: Reprieve from selloff, perhaps
Monday, 15 August 2011, 7:03 am | BusinessDesk
Aug. 15 (BusinessDesk) - There’s hope that the worst of the selling has passed after Wall Street advanced for a second day on Friday, but hope doesn’t offer capital appreciation, recoup losses or pay interest. More >>
State to pay NZ teen beneficiaries’ bills, Key says
Sunday, 14 August 2011, 1:40 pm | BusinessDesk
Aug 14 (BusinessDesk) – Teen beneficiaries will have their rent and power bills paid directly by the state from their social welfare benefit entitlements, and will be unable to buy smokes or booze with a special card containing most of their remaining ... More >>
MARKET CLOSE: NZ stocks rise; Methven leads gainers
Friday, 12 August 2011, 5:51 pm | BusinessDesk
Aug. 12 (BusinessDesk) - New Zealand stocks rose, with a spike in investors' appetite for equities on the back of better than expected U.S. unemployment data helping the exchange to eek out a positive close to a week marked by high levels of volatility. ... More >>
Pike River receivers fund below $5mln, claims balloon $10mln
Friday, 12 August 2011, 5:45 pm | BusinessDesk
Aug 12 (BusinessDesk) – Claims on Pike River Coal Ltd. have grown by almost $10 million to $119.9 million, while the receivers’ fund for dealing with outstanding creditors has fallen from $11.3 million to $4.8 million in the last six months. More >>
No awards for New Zealand tourism in Rugby World Cup year
Friday, 12 August 2011, 5:29 pm | BusinessDesk
Aug. 12 (BusinessDesk) – This year’s local Tourism Industry Awards have been put on hold as operators struggle in a tepid economy and focus their efforts on the Rugby World Cup, which kicks off next month. More >>
Asahi claims control of Charlie’s, extends buying spree
Friday, 12 August 2011, 5:23 pm | BusinessDesk
Aug. 12 (BusinessDesk) – Japanese brewer Asahi Group has acquired New Zealand’s Charlie’s Group Ltd., reaching the 90% level of acceptances for the juice and soft-drink company, the latest in a spree of acquisitions. More >>
Heartland credit rating put on negative outlook on earnings
Friday, 12 August 2011, 5:05 pm | BusinessDesk
Aug. 12 (BusinessDesk) – Heartland New Zealand Ltd., the lender formed in the merger of Marac Finance with the Canterbury and Southern Cross building societies, has been put on notice by rating agency Standard & Poor’s over its earnings outlook ... More >>
MONEY TALKS: Hope has no place in taciturn debt markets
Friday, 12 August 2011, 4:55 pm | BusinessDesk
There’s something about private equity outfits that seems to encapsulate everything we hate in the ‘wide boys’. More >>
Seeka says attempts to contain kiwifruit canker faltering
Friday, 12 August 2011, 1:23 pm | BusinessDesk
Aug. 12 (BusinessDesk) - Seeka Kiwifruit Industries Ltd. says attempts to constrain the Pseudomona Syringae Actinidiae bacteria (PSA), which first struck New Zealand orchards in November last year, appear to be failing with the spread during the winter ... More >>
Vodafone fined $400K in first of six Fair Trading Act claims
Friday, 12 August 2011, 12:47 pm | BusinessDesk
Aug. 12 (BusinessDesk) – Vodafone New Zealand Ltd., the country’s biggest mobile phone operator, has been fined $400,000 for misleading customers in the first of six prosecutions by the antitrust regulator. More >>
Midday update: NZ stocks and dollar continue to rally
Friday, 12 August 2011, 12:10 pm | BusinessDesk
Aug 12 (BusinessDesk) – New Zealand stocks rallied again in trading this morning, with the NZX50 index reaching a high point at 11 a.m. of 3,272.76 before edging back to 3,252.01 just before midday, after closing last night at 3,228.7. Meanwhile, the ... More >>
Chinese investors seek clearance to buy Gulf’s Hobbs Wharf
Friday, 12 August 2011, 12:05 pm | BusinessDesk
Aug 12 (BusinessDesk) – Chinese investors have sought Overseas Investment Office approval to buy the Hobbs Wharf development in Whangaparoa from Gulf Corp., which failed owing $155 million. More >>
