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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 1519]
SMELLIE ON SMEs: Suddenly scary again
Tuesday, 9 August 2011, 3:00 pm | BusinessDesk
Aug 9 (BusinessDesk) – What a short time it seems since the economy was looking up. World economic turmoil seemed to be receding, and it was legitimate to look into the next year with a little of the optimism that’s been in such short supply for ... More >>
Midday update: More pain for NZ stocks; rate hike fear reced
Tuesday, 9 August 2011, 12:08 pm | BusinessDesk
Aug 9 (BusinessDesk) – New Zealand shares tumbled early in trading on the NZX this morning before rallying slightly mid-morning in signs that the overnight sell-off on global equity markets may settle as traders digest calming statements by U.S. ... More >>
NZ electronic card spending edges up in July
Tuesday, 9 August 2011, 11:28 am | BusinessDesk
Aug. 9 (BusinessDesk) –New Zealand lifted spending on credit and debit card transactions marginally last month, with increased spending at bars and restaurants offsetting the drop in fuel retailing. More >>
Contact Energy fights back as customer exodus accelerates
Tuesday, 9 August 2011, 11:20 am | BusinessDesk
by Pattrick Smellie Aug 9 (BusinessDesk) – Contact Energy Ltd. has effectively slashed its electricity tariffs for prompt paying online customers after losing more than 8,000 customers in July. More >>
NZ bonds rise to 2 ½-year high on global rout
Tuesday, 9 August 2011, 10:57 am | BusinessDesk
NZ bonds rise to 2 ½-year high on global rout, ASB cuts fixed-rate home loans More >>
Cavotec extends 50m euro loan to 2016 at improved price
Tuesday, 9 August 2011, 10:51 am | BusinessDesk
Aug 8 (BusinessDesk) - Cavotec MSL Holdings said it has successfully renegotiated a 50 million euro loan with a syndicate of European banks, extending the maturity date to 2016 at improved pricing. More >>
UPDATED: NZ shares tumble 2.9% to 11-month low
Tuesday, 9 August 2011, 10:36 am | BusinessDesk
Aug. 9 (BusinessDesk) - New Zealand shares tumbled 2.9% to an 11-month low following a rout in U.S. equities in the first day of American trading after the unprecedented cut to the U.S. credit rating. More >>
NZ shares tumble 2.8% to 11-month low after US stock rout
Tuesday, 9 August 2011, 10:08 am | BusinessDesk
New Zealand shares tumbled 2.8% to an 11-month low following a rout in U.S. equities in the first day of American trading after the unprecedented cut to the U.S. credit rating. More >>
Stocks to watch: BTU, CCC, CHA, ECO, PFI, WFD
Tuesday, 9 August 2011, 9:35 am | BusinessDesk
Aug. 9 (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 as Wall Street sinks on US credit downgrade
Tuesday, 9 August 2011, 8:35 am | BusinessDesk
Aug. 9 (BusinessDesk) - The New Zealand dollar extended its decline against the greenback after a global equity and commodity markets slumped in reaction to the U.S. credit downgrade. More >>
Key flags labour market reforms as election issue
Monday, 8 August 2011, 6:03 pm | BusinessDesk
Aug 8 (BusinessDesk) – Prime Minister John Key is flagging further labour market reforms are one way New Zealand could bolster itself against the prospect of ongoing volatility in the global economy. More >>
MARKET CLOSE: NZX 50 falls to 11-month low; FPH drops
Monday, 8 August 2011, 5:46 pm | BusinessDesk
MARKET CLOSE: NZ stocks fall to 11-month low; F&P Healthcare leads decliners, Skellerup rises More >>
US downgrade reflects ‘blatant abuse’ of its global position
Monday, 8 August 2011, 2:51 pm | BusinessDesk
Aug. 8 (BusinessDesk) – The U.S. sovereign debt downgrade to AA+ from AAA reflects credit rating agency Standard & Poor’s view that the world’s largest economy is “blatantly abusing” its privileged position as the world’s reserve currency, ... More >>
NZ dollar outlook: Kiwi may fall after US downgrade
Monday, 8 August 2011, 2:19 pm | BusinessDesk
Aug. 8 (BusinessDesk) - The New Zealand may extend is slide against the greenback, as investors continue to abandon equities and take risk off the table in response to Standard & Poor's downgrade of the U.S. credit rating. More >>
Exide Technologies to sue govt over foreign battery recyclin
Monday, 8 August 2011, 2:10 pm | BusinessDesk
Exide Technologies to sue govt over foreign battery recycling Aug. 8 (BusinessDesk) – Exide Technologies Ltd., which operates the country’s only battery recycling plant, plans to sue the government for failing its international obligations to limit ... More >>
RBNZ rate hike expectations pared back on US downgrade
Monday, 8 August 2011, 12:50 pm | BusinessDesk
Aug. 8 (BusinessDesk) – Markets aren’t so sure Reserve Bank Governor Alan Bollard will deliver a rate hike in September after the U.S. credit rating downgrade capped off a week of turbulence in financial markets. More >>
State sector cuts weigh on Wellington property values
Monday, 8 August 2011, 12:50 pm | BusinessDesk
Aug. 8 (BusinessDesk) – Wellington continued to buck the national trend of steady property values as the prospect of state sector cuts weighs on the capital city, according to government valuer, Quotable Value Ltd. More >>
G-7 Ministers willing to intervene for market stability
Monday, 8 August 2011, 12:42 pm | BusinessDesk
Aug 8 (BusinessDesk) – Finance Ministers and central bank governors of the world’s seven largest developed economies, known as the G-7, are signalling a willingness to intervene in foreign exchange markets to cope with “excess volatility and disorderly ... More >>
Property for Industry rents, profits fall after asset sales
Monday, 8 August 2011, 12:10 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Property for Industry's (PFI) first-half rental income and distributable profit fell, reflecting property sales partly offset by revenue from recently completed developments and rental increases. More >>
Midday update: Stocks down across the board in NZ as markets
Monday, 8 August 2011, 12:10 pm | BusinessDesk
Aug 8 (BusinessDesk) – New Zealand stocks fell across the board in their first trading since the weekend (NZT) announcement by credit rating agency Standard & Poor’s that it was downgrading the U.S. sovereign credit rating from AAA to AA+. ... More >>
