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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 1533]
NZ retail spending on credit, debit cards picks up in June
Monday, 11 July 2011, 11:17 am | BusinessDesk
July 11 (BusinessDesk) – New Zealanders shook off the winter blues with retail therapy, with spending on credit and debit cards increasing 0.8% last month. More >>
Wool Equities in rival bid for Wool Services International
Monday, 11 July 2011, 10:27 am | BusinessDesk
July 11 (BusinessDesk) – Wool Equities Ltd. has emerged as a rival bidder for NZ Wool Services International, saying it has funding in place to make an offer for the wool scouring company. More >>
Stocks to watch: AIR, CAV, NZX, PLU, PGC, RBC
Monday, 11 July 2011, 9:40 am | BusinessDesk
July 11 (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 >>
PGC takes share of NAB loan to EPIC fund
Monday, 11 July 2011, 9:34 am | BusinessDesk
July 11 (BusinessDesk) – Pyne Gould Corp. has taken a $14 million stake in National Australia Bank’s loan to a related fund, Equity Partners Infrastructure Company No. 1 Ltd. (EPIC). More >>
NZ dollar falls from record after weak US jobs report
Monday, 11 July 2011, 8:33 am | BusinessDesk
July 11 (BusinessDesk) - The New Zealand dollar fell from a post-float record after sharply weaker-than-expected U.S. employment report sapped demand for higher yielding or riskier assets. More >>
World Week Ahead: Profits back in focus
Monday, 11 July 2011, 7:51 am | BusinessDesk
July 11 (BusinessDesk) – It’s hoped that the start of Corporate America’s second-quarter earnings season this week will provide another boost of optimism for investors, who’ve been driving equities slowly higher. More >>
MARKET CLOSE: NZ stocks fall; NZX leads decliners
Friday, 8 July 2011, 5:48 pm | BusinessDesk
July 8 (BusinessDesk) - New Zealand stocks fell for a third session, with the exchange among the worst performing bourse in the Asia Pacific region. NZX Ltd. led decliners amid the growing war of words over its Clear grain exchange, while PGG Wrightson ... More >>
NZX commissions KPMG for speedy audit of Clear amid stoush
Friday, 8 July 2011, 5:30 pm | BusinessDesk
July 8 (BusinessDesk) – NZX Ltd. has asked its auditors, KMPG, to run a ruler over the Clear grain exchange business amid a legal stoush with the Melbourne-based company’s founders. More >>
Healy bros would get Irongate-linked fund below valuation
Friday, 8 July 2011, 5:11 pm | BusinessDesk
July 8 (BusinessDesk) – Auckland property investors Ross and Ken Healy would get the St John Balanced Property Fund, which is linked to the failed Irongate property Ltd., at below its valuation, according to an independent assessment from advisory ... More >>
Social media spanks Bill English on gains tax
Friday, 8 July 2011, 4:32 pm | BusinessDesk
by Pattrick Smellie July 8 (BusinessDesk) – Finance Minister and Facebook page-owner Bill English didn’t get the presumably intended answer when he asked visitors to the page whether they supported the Labour Party’s proposal for a capital gains ... More >>
MONEY TALKS: The tax that dare not speak its name
Friday, 8 July 2011, 2:14 pm | BusinessDesk
Labour has been a ridiculously weak voice since the Key administration took office, and the likelihood of it getting over the line in the general election this year is close to zilch. And we haven’t had any solid details about what they’re proposing. More >>
SFO investigates dodgy property valuations
Friday, 8 July 2011, 2:07 pm | BusinessDesk
July 8 (BusinessDesk) – Property valuations up to five times an appropriate level have been discovered in a series of probes by the Serious Fraud Office into valuations sought by vendor-owners. More >>
US Justice Department drops Air NZ from cartel probe
Friday, 8 July 2011, 1:33 pm | BusinessDesk
July 8 (BusinessDesk) – Air New Zealand said the U.S. Department of Justice has dropped the airline from its investigation into cartel behaviour in the air cargo market. More >>
Nathans Finance was subservient to its troubled owner: judge
Friday, 8 July 2011, 1:26 pm | BusinessDesk
July 8 (BusinessDesk) – The directors of failed finance company Nathans Finance Ltd. allowed it to become subservient to the needs of its financially troubled owner, VTL Ltd., without informing investors that lending to VTL was being rolled over without ... More >>
Deutsche, Craigs win mandate for advice on NZ asset sales
Friday, 8 July 2011, 12:21 pm | BusinessDesk
Deutsche Bank, Craigs win mandate for advice on $7 bln of NZ state asset sales More >>
Midday update: Daggers drawn in grain exchange scrap
Friday, 8 July 2011, 12:05 pm | BusinessDesk
July 8 (BusinessDesk) – NZX Ltd. says claims for $17 million in earn-out payments relating to its purchase of the Australian Clear grain exchange are “exaggerated and inaccurate”, amid reports that Clear’s founders are considering a counter-suit ... More >>
Rubicon extends debt facility to fund ArborGen
Friday, 8 July 2011, 11:37 am | BusinessDesk
July 8 (BusinessDesk) - Rubicon Ltd., the forestry-based biotech company, has extended the terms and size of its bank debt facility to finance its ArborGen Inc. subsidiary, which was recently forced to scrap plans to list in the U.S. More >>
Clear founder uses ‘unpleasant’ tactics in stoush, NZX says
Friday, 8 July 2011, 11:16 am | BusinessDesk
July 8 (BusinessDesk) – Stock exchange operator NZX Ltd. has hit out at Grant Thomas’s lawyer, accusing him of “unpleasant” tactics after details of a lawsuit over the Clear grain exchange were leaked to the media. More >>
Canadian Helicopters pays $154M for Helicopters NZ
Friday, 8 July 2011, 9:55 am | BusinessDesk
July 8 (BusinessDesk) – Canadian Helicopters Group, Canada’s biggest chopper services company, paid $154 million after completing its purchase of Allan Hubbard’s Helicopters (NZ) Ltd. More >>
Stocks to watch: AIR, ANZ, FBU, HNZ, NZO, TEL, TWR
Friday, 8 July 2011, 9:34 am | BusinessDesk
July 8 (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 >>
