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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 1534]
Hart seeks US$4 bln of debt for latest packaging purchase
Friday, 8 July 2011, 9:23 am | BusinessDesk
July 8 (BusinessDesk) – Reynolds Group Holdings, billionaire Graeme Hart’s packaging company, wants US$4 billion of debt to fund its latest purchase of plastic-container maker Graham Packaging Co. More >>
NZ dollar reaches new post-float high after upbeat U.S. data
Friday, 8 July 2011, 8:31 am | BusinessDesk
NZ dollar reaches new post-float high after upbeat U.S. data, EU rate hike More >>
While you were sleeping: US shoppers lift Wall Street
Friday, 8 July 2011, 7:29 am | BusinessDesk
(BusinessDesk) July 8 - Retailers helped boost Wall Street after a surprisingly buoyant jobs report and better-than-expected sales at Gap Inc and Target Corp bolstered hope that consumer spending will propel the world’s largest economy. More >>
Fresh face of NZ business challenges Govt to clean-tech push
Thursday, 7 July 2011, 6:32 pm | BusinessDesk
July 7 (BusinessDesk) – A who’s who of the funky in New Zealand corporate leadership has launched a direct challenge to the Government on the environment, urging adoption of a nationally agreed strategy to pursue clean technologies and protect the country’s ... More >>
MARKET CLOSE: NZ stocks mixed; Sanford leads decliners
Thursday, 7 July 2011, 6:00 pm | BusinessDesk
June 7 (BusinessDesk) - New Zealand stocks were mixed, closing narrowly in the red as Asian-Pacific markets drifted. Sanford Ltd. led decliners, while Nuplex rose. More >>
Tower caps reinsurance costs, buys cover until September
Thursday, 7 July 2011, 4:28 pm | BusinessDesk
July 7 (BusinessDesk) – Tower Ltd., the insurer controlled by Guinness Peat Group, has cut its expected increase in reinsurance costs to as much as $26 million, and bolstered cover for the current financial year. More >>
Mighty River lifts guidance after deferring maintenance
Thursday, 7 July 2011, 12:28 pm | BusinessDesk
July 7 (BusinessDesk) - Mighty River Power, the state-owned power company, has raised its earnings forecast a second time after deferring maintenance on its geothermal and hydro-electric stations. More >>
NZ Wine Company boss departs, replaced by Peter Scutts
Thursday, 7 July 2011, 12:08 pm | BusinessDesk
July 7 (BusinessDesk) - The New Zealand Wine Company's chief executive of the last eight years, Rob White, is leaving the company to become chief executive of Hubbards Foods in Auckland. More >>
New approach for Wool Services stake is genuine: receiver
Thursday, 7 July 2011, 11:58 am | BusinessDesk
Rival approach for Wool Services stake is a genuine bidder, says Plum Duff, Woolpak receiver More >>
Midday update: Govt savings funds gain with global growth
Thursday, 7 July 2011, 11:48 am | BusinessDesk
July 7 (BusinessDesk) – Improving global equity markets boosted the investment performance of government savings vehicles, including the New Zealand Superannuation Fund (the so-called “Cullen” fund) and the Accident Compensation Corporation. More >>
Stocks to watch: CAV, NWC, NPX, PGW, TLS, WBC
Thursday, 7 July 2011, 9:53 am | BusinessDesk
July 7 (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 on Portugal downgrade, China rate hike
Thursday, 7 July 2011, 8:28 am | BusinessDesk
July 7 (BusinessDesk) - The New Zealand dollar fell against the greenback, while remaining within its recent range, after Portugal's credit rating was cut to junk status and a Chinese interest rate hike sapped momentum from growth currencies. More >>
While you were sleeping: EU raps raters
Thursday, 7 July 2011, 7:30 am | BusinessDesk
(BusinessDesk) July 7 - China’s interest rate increase and a downgrade of Portugal’s credit rating to junk status weren’t enough to deter investors’ optimism on Wall Street. More >>
MARKET CLOSE: NZ stocks fall; Nuplex leads decliners
Wednesday, 6 July 2011, 6:01 pm | BusinessDesk
July 6 (BusinessDesk) - New Zealand stocks fell for a second session, with Nuplex Industries Ltd. leading decliners on the exchange after rivals downgraded their earnings. Auckland International Airport Ltd. rose. More >>
NZ government's bets on global growth pay off, beat target
Wednesday, 6 July 2011, 5:19 pm | BusinessDesk
July 6 (BusinessDesk) – The government’s funds under management grew $5.88 billion in the nine months through March as Crown Financial Institutions benefited from being overweight in global growth assets such as equities. More >>
UPDATED: OMV moves fast on new offshore Taranaki licence
Wednesday, 6 July 2011, 5:14 pm | BusinessDesk
July 6 (BusinessDesk) – OMV New Zealand has been awarded a 65% interest in a previously unawarded offshore Taranaki oil exploration licence, to the north-west of the producing Maari oil and gas field, with a 2-D seismic survey to occur almost immediately. More >>
Statistics NZ delays 1Q GDP release for another week
Wednesday, 6 July 2011, 4:52 pm | BusinessDesk
July 6 (BusinessDesk) – Statistics New Zealand, the government statistician, has delayed the release of first-quarter gross domestic product data by another week. More >>
OMV moves fast on new offshore Taranaki licence
Wednesday, 6 July 2011, 2:20 pm | BusinessDesk
July 6 (BusinessDesk) – OMV New Zealand has taken a 65% interest in a previously unawarded offshore Taranaki oil exploration licence, to the north-west of the producing Maari oil and gas field, with a 2-D seismic survey to occur almost immediately. More >>
Telstra rejigs business structure ahead of NBN
Wednesday, 6 July 2011, 12:52 pm | BusinessDesk
July 6 (BusinessDesk) - Telstra Corp., Australia’s biggest phone company, will shake-up its internal structure and make a number of key appointments after agreeing to lease its fixed-line network to the Australian Federal government as part of the ... More >>
Midday update – Labour starts war on capital gains tax
Wednesday, 6 July 2011, 12:24 pm | BusinessDesk
July 6 (BusinessDesk) – The Labour Party’s apparent intention to announce support for a capital gains tax has created one of the first major engagements of the lead-up to the Nov. 26 general election. More >>
