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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 1517]
More Taranaki oil for TAG, but Kea’s Wingrove disappoints
Friday, 12 August 2011, 11:09 am | BusinessDesk
Aug 12 (BusinessDesk) – Oil discoveries in the onshore Taranaki Mt Messenger formations continue to pile up for TAG Oil Ltd., but the first serious attempt to find oil and gas in the same structures by London-based Kea Petroleum have been abandoned. More >>
Stocks to watch: ANO, FPA, MFT, OGC, TLS
Friday, 12 August 2011, 9:25 am | BusinessDesk
Aug. 12 (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 climbs above 83 U.S. cents as equities rebound
Friday, 12 August 2011, 8:29 am | BusinessDesk
Aug. 12 (BusinessDesk) - The New Zealand dollar rose back above 83 U.S. cents this morning, as global equity markets rebounded strongly for the second time this week after U.S. unemployment claims unexpectedly dropped. More >>
Hamilton flight school lands coup with British Airways deal
Thursday, 11 August 2011, 6:10 pm | BusinessDesk
Aug 11 (BusinessDesk) – Hamilton-based flight school CTC Aviation Ltd. has won a major coup against international competitors to train British Airways cadet pilots, in what chief executive Ian Calvert calls “a huge deal actually.” More >>
Power attracted by standard code of conduct for all lenders
Thursday, 11 August 2011, 6:02 pm | BusinessDesk
Aug. 11 (BusinessDesk) – Outgoing Consumer Affairs Minister Simon Power had his interest piqued by the suggestion that all lenders, regardless of size, should adhere to a standard code of conduct. More >>
MARKET CLOSE: NZ stocks rise on bargain hunting; TLS leads
Thursday, 11 August 2011, 5:53 pm | BusinessDesk
Aug. 11 (BusinessDesk) - New Zealand stocks rose with the exchange bucking the bloodshed seen on overseas markets, as investors sought stocks beaten down in the recent rout. Telstra Corp. led gainers and Air New Zealand Ltd. fell. More >>
NZ bond auction falls short as market volatility deters bids
Thursday, 11 August 2011, 4:34 pm | BusinessDesk
Aug. 11 (BusinessDesk) – The New Zealand Treasury only managed to sell $100 million of the $150 million of bonds offered today in the first sale since America lost its top credit rating, driving down yields on government debt. More >>
Rebuilding Christchurch: blueprint unveiled to public
Thursday, 11 August 2011, 4:28 pm | BusinessDesk
Aug 11 (BusinessDesk) – Christchurch will be rebuilt with a smaller, deliberately compact and walkable central business district, the Avon River will be “revealed” through widening, and the city will commit to bicycles and light rail in future transport ... More >>
Ryall confirms mergers of state agencies, leaves ERO alone
Thursday, 11 August 2011, 3:28 pm | BusinessDesk
Aug. 11 (BusinessDesk) – State Services Minister Tony Ryall has confirmed plans to merge nine state agencies, wringing out cost saving over four years of $19.6 million. More >>
Steel & Tube lifts annual net profit threefold
Thursday, 11 August 2011, 2:50 pm | BusinessDesk
Aug. 11 (BusinessDesk) – Steel & Tube Holdings' annual profit jumped three-fold from last year's recession hit result but the company still describes market conditions in most areas as ‘difficult.’ More >>
NZ consumer confidence rises to 7-month high
Thursday, 11 August 2011, 1:45 pm | BusinessDesk
NZ consumer confidence rises to 7-month high, may signal pick up in jobs market More >>
Midday update: Shares stumble as world markets sour again
Thursday, 11 August 2011, 12:03 pm | BusinessDesk
Aug. 11 (BusinessDesk) - New Zealand stocks fell, erasing some of yesterday’s relief rally and edging back toward an 11-month low as speculation about the health of France’s banks and credit rating sent global equity markets lower. More >>
TelstraClear posts loss on Canterbury quakes, outsourcing
Thursday, 11 August 2011, 12:01 pm | BusinessDesk
Aug. 11 (BusinessDesk) – TelstraClear Ltd., the local subsidiary of Australia’s Telstra Corp., made a loss as the Canterbury earthquakes and costs of setting up a call-centre in the Philippines eroded earnings. More >>
F&P Appliances names David Sullivan as CFO
Thursday, 11 August 2011, 11:20 am | BusinessDesk
Aug. 11 (BusinessDesk) - Fisher & Paykel Appliances Holdings Ltd., the home appliance manufacturer, named David Sullivan as chief financial officer, replacing Mark Richardson. More >>
NZ manufacturing expands as firms look across the Tasman
Thursday, 11 August 2011, 11:08 am | BusinessDesk
(BusinessDesk) – New Zealand manufacturing continues to underpin the nation’s economic recovery, as Australian buyers help stoke demand. More >>
AMP NZ Office beats forecast earnings
Thursday, 11 August 2011, 10:33 am | BusinessDesk
Aug. 11 (BusinessDesk) – AMP NZ Office Ltd., the property investor that shed its trust structure last year, beat expected earnings and reiterated its downbeat outlook for the upcoming year. More >>
NZ stocks resume slide as French banks come under pressure
Thursday, 11 August 2011, 10:13 am | BusinessDesk
Aug. 11 (BusinessDesk) - New Zealand stocks fell, erasing much of yesterday’s relief rally and edging back toward an 11-month low as speculation about the health of France’s banks and credit rating sent global equity markets lower. More >>
Mainfreight more than doubles first-quarter profit
Thursday, 11 August 2011, 9:46 am | BusinessDesk
Aug. 11 (BusinessDesk) - Logistics company Mainfreight Group more than doubled first-quarter profit to $14.2 million, reflecting both improved performance in New Zealand, Australia, the U.S. and Europe as well as earnings from its Wim Bosman acquisition. More >>
Stocks to watch: ALF, CCC, DIL, DNZ, MFT, TLS
Thursday, 11 August 2011, 9:39 am | BusinessDesk
Aug. 11 (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 falls on French downgrade talk, slide in stocks
Thursday, 11 August 2011, 8:31 am | BusinessDesk
Aug. 11 (BusinessDesk) - The New Zealand dollar dropped almost 2 U.S. cents amid speculation that France would be the next country to have its credit rating downgraded, weighing on equity markets and growth assets. More >>
