BusinessDesk

Independent, Trustworthy New Zealand Business News

The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.

Contact BusinessDesk

Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 1521]

Midday update: Unemployment rate no bother for Sept OCR hike

Thursday, 4 August 2011, 11:59 am | BusinessDesk

Aug. 3 (BusinessDesk) – Reserve Bank Governor Alan Bollard won’t be bothered by today’s data showing the unemployment rate at 6.5% in the June quarter and is still probably keeping an eye on September to lift rates by half a percent. The jobless ... More >>

NZ jobless rate keeps Bollard on course for September hike

Thursday, 4 August 2011, 11:26 am | BusinessDesk

Aug. 4 (BusinessDesk) – New Zealand’s unemployment rate of 6.5% in the second quarter will keep Reserve Bank Governor Alan Bollard looking at September for a 50 basis point rate hike as local data supports the local economic recovery. More >>

NZ jobless rate holds at 6.5% after 1st-qtr revision

Thursday, 4 August 2011, 10:53 am | BusinessDesk

Aug. 4 (BusinessDesk) – New Zealand’s unemployment rate has declined this year as businesses kept staff on deck amid an improving economic recovery. More >>

Stocks to watch: CHA, NZX, OGC, PPL, SKC, TWR

Thursday, 4 August 2011, 9:32 am | BusinessDesk

Aug. 4 (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 >>

Asahi extends Charlie’s offer by 14 days to Sept. 2

Thursday, 4 August 2011, 8:47 am | BusinessDesk

Asahi extends Charlie’s offer by 14 days to Sept. 2, reaches 75.2% of target More >>

NZ dollar falls ahead of jobs data, as growth fears weigh

Thursday, 4 August 2011, 8:33 am | BusinessDesk

Aug. 4 (BusinessDesk) - The New Zealand dollar fell against the greenback ahead of the release of the household labour force survey for the second quarter, with global growth fears continuing to keep markets firmly in risk off mode. More >>

MARKET CLOSE: NZ stocks fall on global growth fears

Wednesday, 3 August 2011, 5:44 pm | BusinessDesk

Aug. 3 (BusinessDesk) - New Zealand stocks fell to a four month low, joining a global slide in equities on signs economic growth is faltering in the U.S. and Europe. AMP Ltd. led decliners, and PGG Wrightson Ltd. rose. More >>

Salvus now worth saving after being a long-term laggard

Wednesday, 3 August 2011, 5:39 pm | BusinessDesk

Aug. 3 (BusinessDesk) - Shareholders of Salvus Strategic Investments Ltd. will have a lot to vote on when they convene for a special meeting next month, where they could accept Milford Asset Management as the new manager, or sell the assets and consign ... More >>

From the Farm: Is milk too cheap?

Wednesday, 3 August 2011, 1:13 pm | BusinessDesk

To make milk powder, dairy companies build driers several floors high and spray milk in the top, where it turns snow-like on the way down and can be harvested dry at the bottom. More >>

Midday update: Aucklanders hanging onto their houses

Wednesday, 3 August 2011, 12:11 pm | BusinessDesk

Aug. 3 (BusinessDesk) – Auckland’s largest real estate firm says the city’s home owners are keeping their properties off the market at the moment, offering the lowest number of new houses for sale in a decade last month. Barfoot & Thompson ... More >>

Vital independent directors say talks falter over $2M gap

Wednesday, 3 August 2011, 11:13 am | BusinessDesk

Aug. 3 (BusinessDesk) – Negotiations to internalise Vital Healthcare Property Trust’s management contract have stalled over a $2 million price gap, say the independent directors of the Australia & New Zealand Banking Group-owned manager. More >>

Aucklanders keep houses off the market, Barfoot says

Wednesday, 3 August 2011, 10:54 am | BusinessDesk

Aucklanders keep houses off the market, Barfoot says Aug. 1 (BusinessDesk) – Auckland homeowners put just 1,050 new properties up for sale last month, the lowest number in a decade, according to real estate agency Barfoot & Thompson. More >>

Blue Star owner tries to sweeten deal for irate bondholders

Wednesday, 3 August 2011, 10:31 am | BusinessDesk

Aug. 3 (BusinessDesk) – Blue Star Group’s private equity owner is trying to sweeten a deal for bondholders facing a haircut as they seek to restructure the printing group’s debt and avoid receivership. More >>

Rugby chief Chris Moller to become Sky City chairman

Wednesday, 3 August 2011, 10:19 am | BusinessDesk

Aug. 3 (BusinessDesk) - New Zealand Rugby Union supremo Chris Moller is to take over as Sky City Entertainment Group's chairman when current chairman Rod McGeoch retires at the 2012 annual shareholders' meeting. More >>

NZX equity trading surges in July, debt market slides

Wednesday, 3 August 2011, 10:07 am | BusinessDesk

Aug. 3 (BusinessDesk) - The performance of the NZX Ltd.'s securities markets continued to diverge in July, with equity trading surging while debt activity maintained its declining trend, according to the company's latest operational metrics. More >>

FMA sees no conflict in NZX disclosures over Clear

Wednesday, 3 August 2011, 9:52 am | BusinessDesk

Aug. 3 (BusinessDesk) – The Financial Markets Authority says it will be taking no action over disclosures by the local sharemarket operator, NZX Ltd., relating to its troubled investment in the Australian Clear Grain Exchange. More >>

Allied Farmers sells stores to Fonterra’s RD1

Wednesday, 3 August 2011, 9:39 am | BusinessDesk

Aug. 3 (BusinessDesk) – Allied Farmers Ltd. will sell its rural merchandising stores to rural supplies chain RD1 Ltd. as it seeks to raise funds and repay outstanding debt from its ill-fated purchase of the Hanover and United Finance loan books in ... More >>