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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 1528]
DairyAmerica to sell milk products on Fonterra platform
Thursday, 21 July 2011, 9:31 am | BusinessDesk
July 21 (BusinessDesk) – DairyAmerica, a marketing company for four U.S. dairy cooperatives, will begin selling milk products through Fonterra Cooperative Group’s GlobalDairyTrade platform in October, as the auction site opens to outside participants. More >>
NZ dollar rises ahead of European debt meeting
Thursday, 21 July 2011, 8:36 am | BusinessDesk
July 21 (BusinessDesk) - The New Zealand dollar rose against the greenback ahead of a key meeting in Europe where officials are expected to put the final touches on a Greek debt restructuring deal, although the currency's movements were locked ... More >>
While you were sleeping: Debt concern offsets Apple’s climb
Thursday, 21 July 2011, 7:30 am | BusinessDesk
(BusinessDesk) July 21 - Apple’s solid profits failed to take away investors’ concern about the political wrangling in the U.S. over raising the nation’s debt ceiling, needed for the world’s largest economy to stave off default. More >>
MARKET CLOSE: NZ stocks rise; NZX leads gainers
Wednesday, 20 July 2011, 6:01 pm | BusinessDesk
July 20 (BusinessDesk) - New Zealand stocks rose, with the exchange joining a global rally in equities. NZX Ltd. led gainers, and PGG Wrightson Ltd. fell. More >>
Early NZ interest rate hike on the cards, AMP Capital says
Wednesday, 20 July 2011, 3:18 pm | BusinessDesk
July 20 (BusinessDesk) – The Reserve Bank of New Zealand will hike the official cash rate by a quarter point as soon as September as the economy shows more signs of life and inflation starts to bite, AMP Capital Investors says. More >>
Bollard urged to show poker face at OCR review
Wednesday, 20 July 2011, 3:07 pm | BusinessDesk
July 20 (BusinessDesk) – There is too much evidence of a sharp slowdown in global growth for the Reserve Bank of New Zealand to risk signalling an interest rate rise at next Thursday’s scheduled review of the Official Cash Rate, says Goldman Sachs ... More >>
Midday update: Up and up for the kiwi dollar
Wednesday, 20 July 2011, 12:02 pm | BusinessDesk
July 20 (BusinessDesk) – The prospect of higher interest rates before the end of the year continued to buoy the New Zealand dollar on international currency markets, with the local unit rising 76 basis points overnight and reaching a new post-float ... More >>
Glass Earth bullish on Muirs Prospect findings
Wednesday, 20 July 2011, 11:35 am | BusinessDesk
July 20 (BusinessDesk) – NZAX-listed gold miner Glass Earth Gold Ltd. says it will plan a new drilling campaign based on “significant” results from surface channel sampling at its Muirs gold prospect, south of Tauranga. More >>
Buller Electricity ups support for Pulse Utilities
Wednesday, 20 July 2011, 11:16 am | BusinessDesk
July 20 (BusinessDesk) – Buller Electricity Ltd. has agreed to further concessionary terms in its rescue package for low-budget electricity retailer Pulse Utilities Ltd., which will see Buller become the majority owner of Pulse. More >>
Wakefield Health launches third takeover bid for Norfolk
Wednesday, 20 July 2011, 11:16 am | BusinessDesk
July 20 (BusinessDesk) - Wakefield Health has formally launched another takeover bid for Norfolk Investments valuing it at $24.2 million. More >>
Vital Healthcare confident of cheaper internalisation deal
Wednesday, 20 July 2011, 10:45 am | BusinessDesk
July 20 (BusinessDesk) – Vital Healthcare Property Trust’s OnePath NZ Ltd.-owned manager is close to reaching a new offer to bring management in-house, according to its independent directors. More >>
Brierley grabs 5.05% of cashed-up India Equities for A$294K
Wednesday, 20 July 2011, 10:35 am | BusinessDesk
July 20 (BusinessDesk) – Ron Brierley, the former chairman of Guinness Peat Group, has taken a 5.05% in India Equities Fund Ltd., a cashed-up investor in India that trades on the ASX, suggesting he may be seeking a new vehicle for investments. More >>
Stocks to watch: ARG, GEL, HNZ, IFT, OGC, VCT
Wednesday, 20 July 2011, 9:38 am | BusinessDesk
July 20 (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 >>
Officals say UFB regs will keep Telecom and Chorus in line
Wednesday, 20 July 2011, 9:36 am | BusinessDesk
by Paul McBeth July 20 (BusinessDesk) – Government officials are confident regulations to monitor the tax-payer-subsidised broadband network will keep Chorus in a demerged Telecom Corp. under control. More >>
Argosy trustee knocks back bid to dump OnePath manager
Wednesday, 20 July 2011, 9:28 am | BusinessDesk
July 20 (BusinessDesk) – Argosy Property Trust’s trustee has knocked back a bid from activist unitholders to dump the property investor’s OnePath NZ Ltd.-owned manager. More >>
NZ dollar breaks through post-float record on U.S. debt talk
Wednesday, 20 July 2011, 8:31 am | BusinessDesk
July 20 (BusinessDesk) - The New Zealand dollar rose to a new post-float high on signs officials in Washington are close to sealing a deal to lift the debt ceiling in the world’s largest economy. More >>
Fonterra dairy prices fall 5.1% to lowest since December
Wednesday, 20 July 2011, 7:41 am | BusinessDesk
July 20 (BusinessDesk) – Average prices of dairy products fell to their lowest level since early December in Fonterra Cooperative Group’s latest online auction, adding to evidence the steam in coming out of global commodity prices. More >>
While you were sleeping: Obama sees progress
Wednesday, 20 July 2011, 7:36 am | BusinessDesk
(BusinessDesk) July 20 - Solid earnings including by International Business Machines Corp and optimism by President Barack Obama about a new proposal toward raising the U.S. debt ceiling allowed for a positive tone in equity markets on both sides of ... More >>
Heartland NZ to raise $35M from share purchase plan
Tuesday, 19 July 2011, 5:52 pm | BusinessDesk
July 19 (BusinessDesk) - Heartland New Zealand Ltd. lifted its capital raising to buy PGG Wrightson Finance to $58 million, with $35 million to be raised from existing shareholders via a share purchase plan. More >>
MARKET CLOSE: NZ stocks snap 11-day slide; Telecom rises
Tuesday, 19 July 2011, 5:38 pm | BusinessDesk
July 19 (BusinessDesk) - New Zealand stocks rose, snapping 11 days of declines, as investors were lured back to beat-up stocks. Telecom Corp. paced gainers, and NZX Ltd. fell. More >>
