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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 1529]
Further Z bond issue mulled after overwhelming demand
Tuesday, 19 July 2011, 3:33 pm | BusinessDesk
July 19 (BusinessDesk) – Z Energy Ltd., owner of the Shell petrol station chain in New Zealand, is considering a second bond issue after it raised $150 million on July 8 for bonds maturing in August 2018 and carrying a 7.25% coupon. More >>
Fonterra sinks US$40M into third Chinese dairy farm
Tuesday, 19 July 2011, 2:48 pm | BusinessDesk
July 19 (BusinessDesk) – Fonterra, the New Zealand dairy cooperative, will spend US$40 million developing a new 40 hectare dairy farm in Yutian County, Hebei province, marking its third farm in China. More >>
Midday update: Vodafone expects big fine for misleading ads
Tuesday, 19 July 2011, 11:52 am | BusinessDesk
July 19 (BusinessDesk) – The New Zealand arm of global mobile company Vodafone expects to face fines totalling hundreds of thousands of dollars following an Auckland District Court decision on claims of false advertising. The Commerce Commission, ... More >>
NZ Takeovers Panel wants greater transparency from bidders
Tuesday, 19 July 2011, 10:56 am | BusinessDesk
July 19 (BusinessDesk) – The Takeovers Panel wants more transparency in takeover bids as it seeks to tidy up current legislation and lift investors’ confidence in the nation’s capital markets. More >>
Stocks to watch: AMP, DNZ, NZX, OGC, TEL, TWR
Tuesday, 19 July 2011, 9:46 am | BusinessDesk
July 19 (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 >>
While you were sleeping: Debt headache intensifies
Tuesday, 19 July 2011, 7:30 am | BusinessDesk
(BusinessDesk) July 19 - The week started on a sour note as sovereign debt concerns on both sides of the Atlantic rattled investors. More >>
Pacific Fibre signs build partner for trans-Pacific cable
Monday, 18 July 2011, 5:50 pm | BusinessDesk
Pacific Fibre signs build partner for trans-Pacific cable Monday, 18 July 2011 July 18 (BusinessDesk) – Pacific Fibre Ltd., the local start-up looking to build a second internet cable linking New Zealand to the world, has signed America’s TE Connectivity ... More >>
MARKET CLOSE: NZ stocks fall; Skellerup leads decline
Monday, 18 July 2011, 5:50 pm | BusinessDesk
July 18 (BusinessDesk) - New Zealand stock fell, pushing the NZX 50 Index to a three-month low, as uncertainty over the protracted debt ceiling negotiations in the U.S. and Europe's ongoing sovereign debt crisis sap demand for growth assets. Skellerup Holdings ... More >>
SMELLIE ON SMEs: Capital gains taxes and the flying Kiwi
Monday, 18 July 2011, 3:56 pm | BusinessDesk
July 18 (BusinessDesk) – Last week’s announcement by the Labour Party that it will introduce a capital gains tax, if elected, won’t be enough on its own for the poorly polling party to win at the polls on Nov. 26. In fact, Sunday’s Colmar-Brunton ... More >>
NZ DOLLAR OUTLOOK: Kiwi may fall amid global debt fears
Monday, 18 July 2011, 2:34 pm | BusinessDesk
The New Zealand dollar may fall against the greenback this week, with demand for higher yielding currencies likely to be in short supply as investors limit their risk exposure to the debt crises unfolding in Europe and the U.S. More >>
Cavotec's 2Q sales rise 34%
Monday, 18 July 2011, 12:51 pm | BusinessDesk
July 18 (BusinessDesk) - Cavotec MSL Holdings said second quarter sales rose 34% as its ports and maritime division performed “exceptionally well.” More >>
Two failed Serepisos companies owe for more than $50M
Monday, 18 July 2011, 12:47 pm | BusinessDesk
July 18 (BusinessDesk) – Two failed companies belonging to Wellington property developer Terry Serepisos have more than $50 million of debt on their books, according to the receivers. More >>
Bridgecorp investors to get less than 10c in dollar
Monday, 18 July 2011, 12:21 pm | BusinessDesk
July 18 (BusinessDesk) – Debenture holders of failed finance company Bridgecorp will probably get back less than 10 cents in the dollar, according to a statement from receiver Colin McCloy of PricewaterhouseCoopers. More >>
Serepisos bankruptcy on hold, liquidation bids withdrawn
Monday, 18 July 2011, 12:04 pm | BusinessDesk
July 18 (BusinessDesk) – Wellington property developer Terry Serepisos got another reprieve as a personal bankruptcy bid was put on hold for another month, while attempts to liquidate two of his companies were also shelved. More >>
Midday update: Strong inflation numbers surprise
Monday, 18 July 2011, 11:52 am | BusinessDesk
July 18 (BusinessDesk) – Rising energy and food costs helped push inflation in the three months to June 30 to 1%, to give the highest annual rate of inflation in 21 years, at 5.3%. The annual Consumers’ Price Index figure includes the impact ... More >>
WEEKLY SPORTS DIGEST: Clarke wins British Open
Monday, 18 July 2011, 11:32 am | BusinessDesk
18/07/11 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 >>
NZ services sector grows for a 5th straight month
Monday, 18 July 2011, 11:25 am | BusinessDesk
July 18 (BusinessDesk) – New Zealand’s service sector accelerated for a fifth straight month in June, with new orders again leading the gains, adding to evidence the economy is accelerating at a faster clip, bringing forward the timing of central ... More >>
Clear grain exchange issues “not material”, says NZX
Monday, 18 July 2011, 11:01 am | BusinessDesk
July 18 (BusinessDesk) – NZX Ltd., the New Zealand stock exchange operator, says the value of its Australian Clear grain exchange (CGX) remains unchanged after an urgent valuation exercise, and that its expected reduction in profitability this ... More >>
Stocks to watch: AIA, CCC, CEN, OGC, TEL, VHP
Monday, 18 July 2011, 9:36 am | BusinessDesk
July 18 (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 >>
Geneva Finance revises up 2011 loss
Friday, 15 July 2011, 6:02 pm | BusinessDesk
July 15 (BusinessDesk) – GFNZ Group, formerly Geneva Finance, says its latest loss is bigger than previously reported after it wrote off a tax asset that irked the financial markets regulator. More >>
