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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 1526]
NZ dollar pares gain from new high as US debt talks grind on
Tuesday, 26 July 2011, 8:51 am | BusinessDesk
July 26 (BusinessDesk) – The New Zealand dollar pared gains from a new post-float high as policy-makers in the U.S. struggle to agree on terms for the world’s biggest economy to lift its debt ceiling. More >>
While you were sleeping: Never the twain shall meet
Tuesday, 26 July 2011, 7:13 am | BusinessDesk
(BusinessDesk) July 26 - A Mexican standoff in the U.S. debt talks, with a potential credit ratings downgrade and a government default at stake, kept investors on the sidelines. More >>
SMELLIE ON SMES: Yikes! What’s happening with the dollar?
Monday, 25 July 2011, 6:01 pm | BusinessDesk
The trouble with being a cork in the ocean is that when it gets rough, you end up bobbing about uncontrollably. So it is with the kiwi dollar at the moment. If you’re an importer or planning an overseas sales trip, you’d be wise to be in like Flynn. ... More >>
MARKET CLOSE: NZ stocks fall; NZ Oil & Gas leads decliners
Monday, 25 July 2011, 5:47 pm | BusinessDesk
July 25 (BusinessDesk) - New Zealand stocks fell for the first time in five sessions, with New Zealand Oil & Gas Ltd. leading decliners after reserves at its offshore Taranaki oil and gas field were downgraded by between 18% and 22%. Argosy Property ... More >>
Premier to close 50 stores in Australia, NZ
Monday, 25 July 2011, 5:35 pm | BusinessDesk
July 25 (BusinessDesk) – Premier Investments Ltd., the ASX-listed operator of Just Jeans, Jay Jays and Jacqui E brand stores, is to close 50 loss-making stores in Australia and New Zealand at the end of their leases. More >>
NZ Dollar Outlook: Kiwi may climb on U.S. debt deadlock, OCR
Monday, 25 July 2011, 2:10 pm | BusinessDesk
July 25 (BusinessDesk) - The New Zealand dollar may climb to a new post-float high this week as the U.S. debt ceiling deadlock weighs on the greenback, a the stronger run of local data puts pressure on the Reserve Bank to start hiking the official ... More >>
Reserve Bank to get tougher powers to regulate finance firms
Monday, 25 July 2011, 1:42 pm | BusinessDesk
July 25 (BusinessDesk) – The Reserve Bank will have tougher powers to deal with finance companies under new legislation that will complete several years of work to tighten up supervision of the sector. More >>
WEEKLY SPORTS DIGEST: An Aussie takes the Tour de France
Monday, 25 July 2011, 12:34 pm | BusinessDesk
25/07/11 Executive sport summary – An overview of the major sporting events – Results, key moments and talking points – Everything you need to know to foot it at the water cooler this week. More >>
Midday update: Oil shares slump on Tui field downgrade
Monday, 25 July 2011, 12:31 pm | BusinessDesk
July 25 (BusinessDesk) – Shares in NZX-listed explorers New Zealand Oil & Gas Ltd. and Pan Pacific Petroleum Ltd. fell sharply this morning after the field’s operator, ASX-listed AWE, announced a 21.2% reduction in the probable size of the ... More >>
Tui oilfield reserves one-fifth smaller than thought: AWE
Monday, 25 July 2011, 11:14 am | BusinessDesk
July 25 (BusinessDesk) – The Australian operator of the Tui offshore Taranaki oil and gas field says probable reserves are between nine and 11 million barrels of oil smaller than the 50.5 million barrels previously thought to be recoverable. More >>
Mighty River lifts generation by 27% in 2nd-qtr, sales fell
Monday, 25 July 2011, 9:54 am | BusinessDesk
July 25 (BusinessDesk) - Mighty River Power, the state-owned power company, increased electricity production by 27% in the second quarter, while sales fell in the face of competition, the Christchurch earthquake and unseasonably warm weather. More >>
Vodafone loses 26K customers in June quarter
Monday, 25 July 2011, 9:38 am | BusinessDesk
July 25 (BusinessDesk) – Vodafone New Zealand Ltd., the country’s biggest mobile phone operator, lost 26,000 customers in the June quarter as new entrant Two Degrees Mobile Ltd. ate into the client bases of its bigger rivals. More >>
Stocks to watch: ANZ, MVN, NZF, NZO, TEN, TUR
Monday, 25 July 2011, 9:32 am | BusinessDesk
July 22 (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 Oil & Gas, Pan Pacific shares halted pending statements
Monday, 25 July 2011, 9:17 am | BusinessDesk
July 25 (BusinessDesk) – Shares of New Zealand Oil & Gas Ltd. and Pan Pacific Petroleum NL were halted from trading pending announcements from the companies. More >>
NZ dollar holds above 86 US cts as US debt talks collapse
Monday, 25 July 2011, 8:32 am | BusinessDesk
July 25 (BusinessDesk) - The New Zealand dollar held above 86 U.S. cents after a collapse of debt ceiling talks in Washington saw investors sell down their U.S. dollar positions in favour of safe-haven assets. More >>
Bollard’s policy review may give clues to timing of OCR hike
Monday, 25 July 2011, 7:18 am | BusinessDesk
July 25 (BusinessDesk) – The Reserve Bank of New Zealand will keep the official cash rate unchanged this week, with questions now around whether he moves to lift the rate in the third or fourth quarter, if at all this year. More >>
World Week Ahead: Debt-defying debacle
Monday, 25 July 2011, 7:08 am | BusinessDesk
July 25 (BusinessDesk) - It really shouldn't come as a surprise to anyone but American policymakers are running into the debt ceiling deadline, and there's suddenly a sense of urgency to do the right thing. More >>
Ron Brierley raises India Equities stake to 14.8%
Friday, 22 July 2011, 6:13 pm | BusinessDesk
July 22 (BusinessDesk) – Ron Brierley, the former chairman of Guinness Peat Group, has lifted his stake in ASX-listed India Equities Fund Ltd. to 14.8% from 5.05%, suggesting he sees value in the cashed-up investor in India. More >>
Forest revaluations save Tenon’s US$8M FY earnings guidance
Friday, 22 July 2011, 6:03 pm | BusinessDesk
July 22 (BusinessDesk) – NZX-listed American timber products manufacturer Tenon Ltd. expects its earnings to halve to US$2 million in the second half of the financial year to June 30, with previous guidance only preserved by New Zealand forest revaluations. More >>
MARKET CLOSE: NZ stocks rise; Methven leads gainers
Friday, 22 July 2011, 5:46 pm | BusinessDesk
July 22 (BusinessDesk) - New Zealand stocks rose, with Methven Ltd. leading gainers on the exchange after forecasting a 90% increase in profit in the coming year, while Heartland New Zealand Ltd. fell. More >>
