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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 1531]
Genesis to appeal ‘uncertain’ Electricity Authority decision
Thursday, 14 July 2011, 12:47 pm | BusinessDesk
July 14 (BusinessDesk) – Genesis Energy Ltd. is to appeal the first major decision from the electricity industry’s new regulator, saying the Electricity Authority has created investment uncertainty by overruling a spike that sent spot market power ... More >>
Fonterra again taps foreigner as CEO job with Theo Spierings
Thursday, 14 July 2011, 12:45 pm | BusinessDesk
July 14 (BusinessDesk) – Fonterra Cooperative Group has named Dutch dairy executive Theo Spierings as chief executive, to replace Canadian Andrew Ferrier, passing over internal candidates to run the world’s biggest exporter of dairy products. More >>
Midday update: Kiwi nudges US85 cents as growth figures jump
Thursday, 14 July 2011, 11:59 am | BusinessDesk
July 14 (BusinessDesk) – The New Zealand dollar continued its strong upward run this morning, hitting 85.0 U.S. cents briefly before noon after stronger than expected economic growth figures were released by Statistics New Zealand for the quake-affected ... More >>
NZ manufacturers still positive, but high kiwi dollar hurts
Thursday, 14 July 2011, 11:28 am | BusinessDesk
July 14 (BusinessDesk) – New Zealand manufacturers are so far avoiding the worst impacts of a high kiwi dollar and the European debt crisis, with new orders and deliveries rising in the June Performance of Manufacturing Index, published monthly by Business ... More >>
NZ economy expands at twice the expected pace; kiwi jumps
Thursday, 14 July 2011, 10:51 am | BusinessDesk
July 14 (BusinessDesk) – New Zealand’s economy kicked off 2011 with a bang, growing at twice the forecast pace and the fastest since December 2009 as a resurgent manufacturing sector drove the nation’s revival in the face of Canterbury’s earthquakes. More >>
Vital's manager should be removed without compo: investors
Thursday, 14 July 2011, 10:39 am | BusinessDesk
July 14 (BusinessDesk) - Key investors in Vital Healthcare Property Trust are calling for votes to request the trustee to remove the manager without paying it anything. More >>
NZ dollar hits fresh post-float high as greenback falls
Thursday, 14 July 2011, 10:14 am | BusinessDesk
July 14 (BusinessDesk) - The New Zealand dollar rose to a fresh post float high of 84.13 U.S. cents, with the greenback tumbling after ratings agency Moody's Investor Service put the U.S. on review for a possible debt rating downgrade. More >>
Stocks to watch: FPA, KIP, NZO, NZF, OGC, RYM, VHP
Thursday, 14 July 2011, 9:46 am | BusinessDesk
July 14 (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: Bernanke comes to the party
Thursday, 14 July 2011, 7:38 am | BusinessDesk
(BusinessDesk) July 14 - Federal Reserve Chairman Ben Bernanke bolstered markets with comments that the central bank was ready to help the economy if there were further signs of weakness and inflation declined. Gold rose to a record while the U.S. dollar ... More >>
Tainui war-chest at $100 mln after shedding Ryman stake
Wednesday, 13 July 2011, 4:11 pm | BusinessDesk
by Paul McBeth July 13 (BusinessDesk) – Tainui Group Holdings, which manages the commercial interests of Waikato-Tainui Te Kauhanganui Inc., has about $100 million of headroom after selling its 4.5% stake in retirement village operator Ryman Healthcare ... More >>
Pacific Fibre closes $91 mln deal with Govt network provider
Wednesday, 13 July 2011, 12:25 pm | BusinessDesk
by Paul McBeth July 13 (BusinessDesk) – Pacific Fibre Ltd., the local start-up looking to build a second internet cable linking New Zealand to the world, has sealed its first supply deal for $91 million. More >>
Kiwi Income chairman Sean Wareing to retire in August
Wednesday, 13 July 2011, 12:15 pm | BusinessDesk
July 13 (BusinessDesk) - Kiwi Income Property Trust chairman Sean Wareing will retire next month from his role as chairman and director of New Zealand's biggest listed property investment vehicle. More >>
Midday update: Food prices leap 7.5% in one year
Wednesday, 13 July 2011, 12:12 pm | BusinessDesk
July 13 (BusinessDesk) – Food prices jumped 7.5% in the year to June, reflecting global food supply pressures and demand growth as well as local seasonal factors. The announcement from Statistics New Zealand comes a day ahead of a Labour Party ... More >>
NZ food prices rise for third month on dearer fruit and veg
Wednesday, 13 July 2011, 11:24 am | BusinessDesk
NZ food prices rise for third month as fruit and veg gets more expensive in June More >>
Diligent shares soar 15% after 2Q sales report
Wednesday, 13 July 2011, 10:45 am | BusinessDesk
July 13 (BusinessDesk) - Startup software company Diligent Board Member Services's shares soared 15% after it proved its growth momentum is continuing by reporting a 91% rise in second quarter sales to a record. More >>
Diligent 2Q sales jump 91%, fuelled by iPad growth
Wednesday, 13 July 2011, 9:51 am | BusinessDesk
July 13 (BusinessDesk) – Start-up software company Diligent Board Member Services proved its growth momentum is continuing with second quarter sales up 91% to a record US$3.67 million with the increasing use of the iPad a key driver. More >>
Stocks to watch: AIR, BTU, CEN, BTU, IFT, RAK, TWR
Wednesday, 13 July 2011, 9:46 am | BusinessDesk
July 13 (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: US trade deficit swells
Wednesday, 13 July 2011, 7:38 am | BusinessDesk
(BusinessDesk) July 13 - Data showing the U.S. trade deficit widened more than expected in May and indications that the Federal Reserve officials disagree over how best to help bolster the world’s biggest economy left investors reluctant to commit ... More >>
MARKET CLOSE: NZ stocks out-perform region amid global gloom
Tuesday, 12 July 2011, 5:59 pm | BusinessDesk
July 12 (BusinessDesk) - New Zealand stocks fell for a sixth session, though they missed the worst of the sell-off in regional markets as European debt fears and the protracted U.S. negotiations on the debt ceiling saw investors shun higher-yielding, ... More >>
Smellie on SME’s: Leading by dealing in hope
Tuesday, 12 July 2011, 4:34 pm | BusinessDesk
July 12 (BusinessDesk) – Go into any bookshop to the management section, and you’re bound to find a wall full of management books dealing with the endlessly challenging business of leadership. The level of interest is no surprise. Acts of leadership ... More >>
