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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 1530]
NZ stocks fall on US credit rating outlook
Friday, 15 July 2011, 5:57 pm | BusinessDesk
MARKET CLOSE: NZ stocks fall after U.S. put on negative rating watch; PPL leads decliners, ARG rises More >>
Contact Energy stalwart, Liz Kelly, flies the coop
Friday, 15 July 2011, 5:29 pm | BusinessDesk
July 15 (BusinessDesk) – Contact Energy’s longest-serving senior executive, Development and Acquisitions general manager Liz Kelly, is to leave the company after 11 years in senior roles, starting with the company’s first post-privatisation chief executive, ... More >>
MONEY TALKS: Blue Star bondholders face Clayton’s choice
Friday, 15 July 2011, 2:49 pm | BusinessDesk
As you shake off your likely outrage over the prospect of a capital gains tax this weekend, spare a thought for those poor saps foolish enough to buy bonds in Blue Star. A few years ago, the Auckland-based printer froze interest payments to bondholders ... More >>
Midday update: FMA looks into NZX's own disclosures
Friday, 15 July 2011, 12:17 pm | BusinessDesk
July 15 (BusinessDesk) – The Financial Markets Authority is “taking an interest” in the New Zealand stock exchange operator, NZX Ltd.’s differing statements in court and to investors about the performance of its investment in the Australian ... More >>
ANZ's OnePath likely to agree on lower exit price for Vital
Friday, 15 July 2011, 11:45 am | BusinessDesk
ANZ Bank’s OnePath likely to agree on lower exit price for Vital Healthcare contract More >>
AIA's North Queensland airports seek A$529M for rollover
Friday, 15 July 2011, 11:28 am | BusinessDesk
AIA's North Queensland airports seek A$529M for loan rollover July 15 (BusinessDesk) – North Queensland Airports Group, which operates the Cairns and Mackay airports, has tapped its lenders for A$529 million to refinance the buy-up of assets when the ... More >>
NZ regulator eyes NZX’s own disclosures over Clear
Friday, 15 July 2011, 10:02 am | BusinessDesk
July 15 (BusinessDesk) – The Financial Markets Authority is taking an interest in NZX Ltd.’s disclosures over the performance of the Clear grain exchange, after testimony given in a court hearing with Clear’s founders painted a weaker picture ... More >>
Argosy independent directors get OnePath down to $20M
Friday, 15 July 2011, 9:59 am | BusinessDesk
July 15 (BusinessDesk) – The two independent directors of Argosy Property Trust’s management company have agreed to pay the owner $20 million to relinquish the contract, pushing on with a deal that is being challenged in court and opposed by some of the ... More >>
Chorus seeks feedback on fibre standards draft, drops prices
Friday, 15 July 2011, 9:54 am | BusinessDesk
July 15 (BusinessDesk) –Chorus, Telecom Corp.’s network arm, has released the draft terms of its fibre products and is seeking feedback from industry players. More >>
Stocks to watch: ARG, HNZ, KMD, NZX, TEL, WBC
Friday, 15 July 2011, 9:40 am | BusinessDesk
July 15 (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 as Bernanke dashes QE3 hopes
Friday, 15 July 2011, 8:31 am | BusinessDesk
July 15 (BusinessDesk) - The New Zealand fell from yesterday's all-time high against the greenback, with investors' appetite for higher-yielding, or riskier, assets pulling back sharply after Federal Reserve Chairman Ben Bernanke poured cold water on hopes ... More >>
While you were sleeping: Bernanke quashes stimulus hopes
Friday, 15 July 2011, 7:18 am | BusinessDesk
(BusinessDesk) July 15 - Investors’ optimism about fresh stimulus by the Federal Reserve was dampened as Ben Bernanke indicated the central bank wasn’t planning any immediate action. More >>
Fonterra's new CEO Spierings wins cheer from cooperatives
Thursday, 14 July 2011, 5:10 pm | BusinessDesk
Fonterra's new CEO Spierings wins cheer from cooperatives assn, brings euro knowledge By Jonathan Underhill More >>
Labour confirms capital gains tax on all but the family home
Thursday, 14 July 2011, 3:25 pm | BusinessDesk
July 14 (BusinessDesk) – Labour Party leader Phil Goff unveiled the worst kept secret in recent New Zealand politics by confirming a Labour-led government would introduce a flat rate 15% capital gains tax, unadjusted for inflation, on all assets ... More >>
NZ property sales pick up in June amid tightening supply
Thursday, 14 July 2011, 2:26 pm | BusinessDesk
July 14 (BusinessDesk) - The volume of property sales continued to rise in June compared to the same month last year, with days to sell edging lower and median house prices gaining in the period amid tight housing supply, according to the Real Estate Institute. More >>
NZ consumer confidence hits winter blues after June rebound
Thursday, 14 July 2011, 1:41 pm | BusinessDesk
July 14 (BusinessDesk) – New Zealanders got a dose of the winter blues this month and are less likely to go out spending than they were in June. More >>
UPDATE: Contact and Genesis appeal electricity ruling
Thursday, 14 July 2011, 1:38 pm | BusinessDesk
July 14 (BusinessDesk) – Genesis Energy Ltd. and Contact Energy Ltd. are to appeal the first major decision from the electricity industry’s new regulator, saying the Electricity Authority has created investment uncertainty by over-ruling a spike ... More >>
UPDATE: Contact and Genesis appeal electricity ruling
Thursday, 14 July 2011, 1:32 pm | BusinessDesk
July 14 (BusinessDesk) – Genesis Energy Ltd. and Contact Energy Ltd. are to appeal the first major decision from the electricity industry’s new regulator, saying the Electricity Authority has created investment uncertainty by over-ruling a spike ... More >>
English, Swan discuss aligning trans-Tasman ETS, broadband
Thursday, 14 July 2011, 1:27 pm | BusinessDesk
July 14 (BusinessDesk) – New Zealand Finance Minister Bill English and Australian Treasurer Wayne Swan say it is desirable to align their respective emissions trading schemes and national broadband plans. More >>
Serious Fraud Office lays 90 charges over LWR failure
Thursday, 14 July 2011, 1:07 pm | BusinessDesk
July 14 (BusinessDesk) – The Serious Fraud Office has laid 90 fraud charges against failed clothing manufacturer Lane Walker Rudkin Industries director Kenneth Anderson and another individual. More >>
