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BusinessDesk - Latest News [Page 1518]

MARKET CLOSE: NZ stocks snap three day losing streak

Wednesday, 10 August 2011, 6:01 pm | BusinessDesk

Aug. 10 (BusinessDesk) - New Zealand stocks rose for the first time in three sessions, snapping the steepest decline seen since the global financial crisis in 2008, after the U.S. Federal Reserve promised to keep interest rates on hold for at least two ... More >>

Fidelity to suspend coupon payments on NZDX-listed bonds

Wednesday, 10 August 2011, 4:13 pm | BusinessDesk

Aug. 10 (BusinessDesk) - Fidelity Life Assurance Co. has suspended interest payments on its NZDX-listed bonds and halted trading activity of the fund they finance after its value was eroded by volatility in the U.S. Treasury bonds it writes options on. More >>

Blue Star bondholders give company another shot

Wednesday, 10 August 2011, 4:09 pm | BusinessDesk

Aug. 10 (BusinessDesk) – Blue Star Group’s bondholders have voted to give the company another shot, by a slim margin, to return their money rather than risk receivership. More >>

From the Farm: Fertiliser, the next big-boom commodity?

Wednesday, 10 August 2011, 4:02 pm | BusinessDesk

Ravensdown Fertiliser‘s full-year operating earnings have soared 260% to $71.6 million, the cooperative announced today - a jump that partly reflects the enthusiasm of farmers to boost productivity in the face of high global commodity prices. More >>

Allied Farmers facing zero return from Matarangi receivers

Wednesday, 10 August 2011, 1:31 pm | BusinessDesk

Aug. 10 (BusinessDesk) – Allied Farmers Ltd. will probably have to write down its stake in Matarangi Beach Estates Ltd. to zero as the prior lender said it will take a loss on the loan. More >>

Hart’s Reynolds pays more to fund Graham Packaging purchase

Wednesday, 10 August 2011, 12:39 pm | BusinessDesk

Aug. 10 (BusinessDesk) – Graeme Hart’s Reynolds Group Holdings’ funding costs have increased for its latest US$2.5 billion of bonds, which were sold to help pay for Graham Packaging Co., the latest addition to his packaging empire. More >>

Midday update: NZ stocks on upward rebound, along with kiwi

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

Aug 10 (BusinessDesk) – The New Zealand sharemarket opened on a more positive note this morning, with the NZX50 Index of major stocks gaining 3.5% to 3206.55 with some calm returning to global financial markets after almost a week of turmoil. The NZX ... More >>

Ravensdown earnings surge as demand follows global prices

Wednesday, 10 August 2011, 12:06 pm | BusinessDesk

Aug. 10 (BusinessDesk) - Ravensdown Fertiliser Co-operative, which supplies close to half of New Zealand's agricultural fertiliser, has reported a 260% surge in full-year pretax operating earnings as farmers looked to boost the productivity of their fields ... More >>

ASB lifts full-year profit by 28% even as lending falls

Wednesday, 10 August 2011, 11:46 am | BusinessDesk

Aug. 10 (BusinessDesk) – ASB full-year profit rose 28%, even as lending fell, as the lender fattened its interest margin and reduced charges for impairments, enabling it to pay $280 million in dividends to parent Commonwealth Bank of Australia. More >>

DNZ still favours Argosy merger

Wednesday, 10 August 2011, 11:01 am | BusinessDesk

Aug 10 (BusinessDesk) – DNZ Property Fund Ltd. will continue to pursue a merger with the Argosy Property Trust for as long as the synergies it can see remain available, DNZ chairman Tim Storey told shareholders at the property manager’s annual meeting ... More >>

Diligent shares surge 11% on improving sales, 1H profit

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

Aug. 10 (BusinessDesk) - Diligent Board Member Services Inc., the governance software company, shares surged 11% after the company reported a strong cash flow on a near-doubling in second quarter sales and it reported a bottom-line profit on a debt write-back. More >>

NZ shares snap 3-day slide as Fed pledge lifts equity market

Wednesday, 10 August 2011, 10:08 am | BusinessDesk

Aug. 10 (BusinessDesk) – New Zealand shares snapped a three-day slide, joining rebound in equity markets after the Federal Reserve pledged to keep interest rates low to nurture growth in the world’s biggest economy. More >>

NZ dollar climbs back above 83 US cents after Fed pledge

Wednesday, 10 August 2011, 9:56 am | BusinessDesk

Aug. 10 (BusinessDesk) - The New Zealand dollar rose above 83 U.S. cents after U.S. equity markets snapped their slide on the back of a commitment from the Federal Reserve that it would keep interest rates near zero for at least two years to stimulate the ... More >>