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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 1527]
FMA taps ex-NZ Markets Discipline head for compliance unit
Friday, 22 July 2011, 5:26 pm | BusinessDesk
July 22 (BusinessDesk) – The Financial Markets Authority has appointed Elaine Campbell as head of compliance monitoring, giving her purview of finance companies, trustees, KiwiSaver providers and market participants. More >>
Drury says Xero shareholders support chasing sales growth
Friday, 22 July 2011, 3:46 pm | BusinessDesk
July 22 (BusinessDesk) – Shareholders of Xero Ltd. support the cloud-based accounting platform provider’s focus on chasing sales ahead of profits, chief executive Rod Drury says. More >>
MONEY TALKS: Who knows when to fix your mortgage rate?
Friday, 22 July 2011, 2:47 pm | BusinessDesk
After some pretty crazy-high growth and inflation numbers in the last fortnight, everyone seems to think the Reserve Bank will start lifting interest rates sooner rather than later. More >>
NZF gives up on deposit-taking unit, calls in receiver
Friday, 22 July 2011, 2:29 pm | BusinessDesk
July 22 (BusinessDesk) –NZF Group has called in the receiver for its deposit-taking subsidiary after failing to find a “short-term funding solution.” More >>
Ralph Norris steps down from Commonwealth Bank
Friday, 22 July 2011, 12:23 pm | BusinessDesk
July 22 (BusinessDesk) – Ralph Norris, the New Zealander who has run Commonwealth Bank of Australia for the past six years is stepping down as chief executive of that nation’s biggest lender by market value and will be replaced by Ian Narev, head ... More >>
Midday update: Kiwi dollar heads into uncharted territory
Friday, 22 July 2011, 12:11 pm | BusinessDesk
July 22 (BusinessDesk) – The rampant New Zealand dollar continued to climb against the U.S. dollar, reaching a 30 year high of 86.42 U.S. cents, as international investors grow more confident that the U.S. and Eurozone debt crises will see an orderly resolution ... More >>
Methven forecasts 90% jump in annual profit to $9 mln
Friday, 22 July 2011, 12:09 pm | BusinessDesk
July 22 (BusinessDesk) - Shower and tapware manufacturer Methven is predicting net profit for the year ending March 2012 will jump 90% to $9 million while net debt will drop 20%. More >>
Maersk drops New Plymouth port from shipping service
Friday, 22 July 2011, 11:29 am | BusinessDesk
July 22 (BusinessDesk) – International container shipping line Maersk is to abandon its service to Port Taranaki, the North Island’s main west coast port, following a steady decline in cargo volumes. More >>
NZF Money at risk of default after pulling prospectus: S&P
Friday, 22 July 2011, 10:10 am | BusinessDesk
July 22 (BusinessDesk) –NZF Group’s deposit-taking unit is at risk of default next week if it can’t find new funding after the financial markets watchdog ordered it to withdraw a prospectus, Standard & Poor’s says. More >>
Stocks to watch: AIR, BTU, CHA, NZF, OGC, XRO
Friday, 22 July 2011, 9:39 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 dollar reaches post-float high 86.42 US cts on Greek deal
Friday, 22 July 2011, 8:27 am | BusinessDesk
July 22 (BusinessDesk) - The New Zealand dollar rose to a new post-float high against the greenback, after European leaders agreed to a fresh bailout package for Greece. More >>
While you were sleeping: Momentum in debt talks
Friday, 22 July 2011, 7:40 am | BusinessDesk
(BusinessDesk) July 22 - Another day, another mood as there were signs of progress toward agreements on how to deal with an overload of debt on both sides of the Atlantic. More >>
MARKET CLOSE: NZ stocks rise on KiwiSaver flows; NZX gains
Thursday, 21 July 2011, 5:56 pm | BusinessDesk
July 21 (BusinessDesk) - New Zealand stocks rose for a third session, with KiwiSaver fund flows helping the local bourse outperform regional markets. NZX Ltd. led gainers, while Rakon Ltd. fell. More >>
Xero may miss break-even target as it chases acquisitions
Thursday, 21 July 2011, 5:41 pm | BusinessDesk
July 21 (BusinessDesk) – Xero Ltd., the cloud-based accounting platform, may miss its target of breaking even this year, saying it wants to focus on growth, including the A$1.5 million purchase of Australian online payroll company Paycycle. More >>
Asahi's takeover offer for Charlie's fair, says valuer
Thursday, 21 July 2011, 4:08 pm | BusinessDesk
July 21 (BusinessDesk) – Japanese brewer Asahi’s $129.3 million takeover offer for Charlie’s Group Ltd. falls within the independent valuation assessed by Grant Samuel. More >>
Bathurst, Comet Ridge expand West Coast coalfield interests
Thursday, 21 July 2011, 1:18 pm | BusinessDesk
July 21 (BusinessDesk) – Coal seam gas developer Comet Ridge Ltd. has extended the size of its exploration permit area to the north of Greymouth to 4,802 square kilometres, to join with its existing mining permit area, the 170 sq km PMP50100. More >>
Midday update: Too soon to call rate rise, says JB Were
Thursday, 21 July 2011, 11:59 am | BusinessDesk
July 21 (BusinessDesk) – Currency traders are pushing the kiwi dollar up at any excuse, making it important that the Reserve Bank of New Zealand's Governor, Dr Alan Bollard, keep his powder dry at next Thursday's Official Cash Rate review. JB Were ... More >>
NZ dollar reaches new post-float high on Greek debt progress
Thursday, 21 July 2011, 11:31 am | BusinessDesk
July 21 (BusinessDesk) - The New Zealand dollar rose to a fresh post float high of 85.86 U.S. cents after France and Germany announced they had reached an agreement on a Greek debt restructuring deal. More >>
NZ tourist numbers fell 10% in June as ash disrupts flights
Thursday, 21 July 2011, 11:22 am | BusinessDesk
July 21 (BusinessDesk) – The number of short-term visitors to New Zealand dropped 10% last month as the ash clouds from Chile’s Puyehue-Cordon Caulle volcano disrupted travel and cancelled flights. Just 131,269 people came to visit New Zealand in June, ... More >>
Stocks to watch: ARG, HNZ, NZO, VCT, WFD, WBC
Thursday, 21 July 2011, 9:45 am | BusinessDesk
July 21 (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 >>
