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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 1524]
US records manager Iron Mountain seeks buyer for NZ unit
Friday, 29 July 2011, 10:24 am | BusinessDesk
July 29 (BusinessDesk) – Iron Mountain Inc., the NYSE-listed information management company, wants to sell its New Zealand unit after reviewing its international businesses. More >>
Z Energy says timing not right to sell more bonds
Friday, 29 July 2011, 10:18 am | BusinessDesk
July 29 (BusinessDesk) – Z Energy Ltd., the chain of petrol stations owned by Infratil Ltd. and the New Zealand Superannuation Fund, has abandoned plans for a another sale of 7.25% bonds, saying the timing isn’t right to raise more of the debt. More >>
Stocks to watch: ANZ, CVT, GPG, MFT, PLU, THL
Friday, 29 July 2011, 9:39 am | BusinessDesk
July 29 (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 reduced scope of rate hikes
Friday, 29 July 2011, 8:32 am | BusinessDesk
July 29 (BusinessDesk) - The New Zealand dollar fell against the U.S. currency on the back of yesterday's more dovish official cash rate announcement, the U.S. debt ceiling deadlock, and reemerging European sovereign concerns. More >>
Comvita expects a 'significantly better' profit
Thursday, 28 July 2011, 6:29 pm | BusinessDesk
July 28 (BusinessDesk) - Honey products company Comvita's first-quarter sales and earnings are better than in the previous two years, despite the headwinds from the strong New Zealand dollar, chairman Neil Craig told the annual shareholders' meeting. More >>
MARKET CLOSE: NZ stocks fall; Cavalier leads decliners
Thursday, 28 July 2011, 5:55 pm | BusinessDesk
July 28 (BusinessDesk) - New Zealand stocks fell, following regional markets lower as investors again looked to limit their risk exposure with politicians in Washington still deadlocked on the U.S. debt ceiling negotiations. Cavalier Corp. fell and Mainfreight ... More >>
Retail Food spends $4M to buy NZ coffee group Evolution
Thursday, 28 July 2011, 5:46 pm | BusinessDesk
July 28 (BusinessDesk) – Retail Food Group, the ASX-listed food franchise that operates the Esquires Coffee Houses and Brumby’s Bakeries brands, has agreed to a $4 million deal to buy Evolution Coffee Roasters group. More >>
TrustPower sees power price rise as economy recovers
Thursday, 28 July 2011, 5:39 pm | BusinessDesk
July 28 (BusinessDesk) – Infratil Ltd.-controlled power company TrustPower Ltd. says the recent trend of low wholesale electricity prices is coming to an end and rising prices will support new renewable generation projects. More >>
Landcorp set to pay govt fatter dividend as earnings improve
Thursday, 28 July 2011, 5:22 pm | BusinessDesk
July 28 (BusinessDesk) – Landcorp Farming Ltd., the country’s biggest farmer, is set to pay a fatter dividend to the government after surging commodity prices underpinned a doubling in forecast operating earnings. More >>
No stuffed shirts for Mainfreight board please, Braid says
Thursday, 28 July 2011, 5:17 pm | BusinessDesk
July 28 (BusinessDesk) - Mainfreight Ltd. fare-welled two board members today with a plea to shareholders not to elect new directors who might "bow to politically correct and pedantic opinion." More >>
Christchurch City debt rating cut to AA by S&P
Thursday, 28 July 2011, 3:10 pm | BusinessDesk
July 28 (BusinessDesk) - Christchurch City Council and the holding company for its investments had their credit ratings cut one notch to AA with a negative outlook by Standard & Poor's, which said damage from the earthquakes had weakened the ... More >>
ASB chair Gavin Walker resigns from GPG board
Thursday, 28 July 2011, 12:41 pm | BusinessDesk
July 28 (BusinessDesk) - In what marks the latest in a string of board reshuffles, Guinness Peat Group has announced that Gavin Walker will be stepping down from his position as an independent director due to a conflict of interests, effective as ... More >>
Midday update: Bollard keeps OCR at 2.5%, rate hikes coming
Thursday, 28 July 2011, 12:21 pm | BusinessDesk
July 28 (BusinessDesk) - Reserve Bank Governor Alan Bollard says higher interest rates are on the way with the cut he made in March in response to the Canterbury earthquakes having “little need” to stay in place much longer. More >>
Regulator flags small cut in Telecom’s UBA wholesale pricing
Thursday, 28 July 2011, 10:56 am | BusinessDesk
July 28 (BusinessDesk) – The Commerce Commission wants Telecom Corp. to offer slightly lower wholesale prices on its unbundled bitstream access (UBA) after its final probe before the phone company is split. More >>
Bollard to lift OCR by 50 bps as soon as September
Thursday, 28 July 2011, 10:11 am | BusinessDesk
Bollard to lift OCR by 50 bps as soon as Sept, kiwi’s strength limits future hikes More >>
Stocks to watch: JTM, LIC, LPC, NZX, TEL, VHP
Thursday, 28 July 2011, 9:35 am | BusinessDesk
July 28 (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 >>
Bollard holds OCR at 2.5%, high kiwi limits need for hikes
Thursday, 28 July 2011, 9:06 am | BusinessDesk
Bollard holds OCR at 2.5%, says strong kiwi may keep hikes off the horizon More >>
NZ dollar falls ahead of OCR announcement
Thursday, 28 July 2011, 8:24 am | BusinessDesk
July 28 (BusinessDesk) - The New Zealand dollar fell against the greenback ahead of the Reserve Bank's official cash rate announcement this morning, with the protracted deadlock in Washington on the U.S. debt ceiling weighing on investors' appetite for ... More >>
Vital Healthcare independent directors spurn OnePath offer
Wednesday, 27 July 2011, 5:56 pm | BusinessDesk
July 27 (BusinessDesk) – The independent directors of Vital Healthcare Property Trust’s manager have turned down an $8 million offer to internalise the contract. More >>
MARKET CLOSE: NZ shares fall on US debt impasse; NZX falls
Wednesday, 27 July 2011, 5:55 pm | BusinessDesk
July 27 (BusinessDesk) – New Zealand shares fell, led by bourse operator NZX and NZ Oil & Gas, as the U.S. delayed a vote on raising its debt ceiling and accelerating inflation in Australia raised the prospect of interest rate hikes in the biggest ... More >>
