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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 1535]
NZ Treasury trims forecast for year-end budget deficit
Wednesday, 6 July 2011, 10:50 am | BusinessDesk
NZ Treasury trims forecast for year-end budget deficit on higher tax take, lower costs More >>
GPG share cancellation gets UK court sign-off
Wednesday, 6 July 2011, 10:17 am | BusinessDesk
July 6 (BusinessDesk) – Guinness Peat Group, the investment company formerly led by Ron Brierley, has had its share cancellation scheme signed off by the U.K. High Court, paving the way for a capital return of $158 million. More >>
Stocks to watch: ALF, BTU, DNZ, NZX, VHP, WFK, WTL
Wednesday, 6 July 2011, 9:38 am | BusinessDesk
July 6 (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 >>
Wakefield Health sweetens Norfolk bid again
Wednesday, 6 July 2011, 9:23 am | BusinessDesk
July 6 (BusinessDesk) – Wakefield Health Ltd. has upped its offer to buy Norfolk Investments Ltd. for a second time in its protracted efforts to gain a stake in Tauranga’s Grace Hospital. More >>
NZ dollar falls as prices drop at Fonterra auction
Wednesday, 6 July 2011, 8:16 am | BusinessDesk
July 6 (BusinessDesk) - The New Zealand dollar fell against the greenback after prices tumbled for the nation’s biggest export at Fonterra Cooperative Group’s latest online auction of dairy products. More >>
While you were sleeping: Looking for some direction
Wednesday, 6 July 2011, 7:22 am | BusinessDesk
(BusinessDesk) July 6 - Without a fresh catalyst to propel equities higher or lower, share prices have drifted overnight ahead of the European Central Bank’s meeting later this week and the latest U.S. payrolls report. More >>
Fonterra dairy prices fall 6.7%, biggest drop since March
Wednesday, 6 July 2011, 6:59 am | BusinessDesk
Fonterra dairy product prices fall 6.7%, biggest drop since March, led by skim milk powder More >>
MARKET CLOSE: NZ stocks fall; Wrightson leads, but NZX up
Tuesday, 5 July 2011, 6:08 pm | BusinessDesk
July 5 (BusinessDesk) - New Zealand stocks fell, snapping three days of gains, with the market losing ground and lacking strong leads from Wall Street, closed for the Independence Day holiday. PGG Wrightson Ltd. led decliners, while NZX Ltd. rose. More >>
RBA holds key rate at 4.75%, says growth less than forecast
Tuesday, 5 July 2011, 5:27 pm | BusinessDesk
July 5 (BusinessDesk) - Australia's central bank kept its benchmark interest rate unchanged at 4.75% as expected and said the economy's expansion will be slower than initially estimated this year. The Australian dollar fell against the greenback after ... More >>
Moody’s cuts Transpower credit rating on dividend resumption
Tuesday, 5 July 2011, 1:52 pm | BusinessDesk
July 5 (BusinessDesk) – Transpower New Zealand Ltd., the state-owned national grid company, had its credit rating cut by Moody’s Investors Service after announcing it will resume dividend payments a year earlier than it had flagged. More >>
Two month extension sought on Great South Basin drilling
Tuesday, 5 July 2011, 1:16 pm | BusinessDesk
Two month extension sought on Great South Basin drilling decision July 5 (BusinessDesk) – The New Zealand arm of Austrian oil and gas explorer OMV is seeking a two month extension while it decides what to do next with its three exploration permits in ... More >>
NZX files lawsuit over grain exchange purchase
Tuesday, 5 July 2011, 1:08 pm | BusinessDesk
July 5 (BusinessDesk) – NZX Ltd., the stock exchange operator, has filed proceedings in the High Court over its A$6.4 million purchase of the Clear grain exchange business in 2009. More >>
Smellie on SMEs: Smile, it’s an economic recovery
Tuesday, 5 July 2011, 12:49 pm | BusinessDesk
July 7 (BusinessDesk) – It may not seem like it, especially if you’re a retailer, but the economic recovery is at last upon us. More >>
DNZ Property spends $40.7 mln in supermarket buy-up
Tuesday, 5 July 2011, 12:39 pm | BusinessDesk
July 5 (BusinessDesk) – DNZ Property Fund Ltd., which is trying to convince Argosy Property Trust’s unit holders to back a merger, will spend $40.7 million on three Foodstuffs supermarkets in the North Island. More >>
Fonterra may sell more Australian bonds as rates appeal
Tuesday, 5 July 2011, 12:08 pm | BusinessDesk
July 5 (BusinessDesk) – Fonterra Cooperative Group would consider selling more bonds in Australia after pricing its inaugural sale at a cheaper interest rate than it could get from its banks. More >>
NZ dollar hits fresh post-float high as recovery builds
Tuesday, 5 July 2011, 11:52 am | BusinessDesk
NZ dollar hits fresh post-float high as recovery builds, timing of rate hikes weighed More >>
Midday update: Business confidence bouncing back, kiwi up
Tuesday, 5 July 2011, 11:49 am | BusinessDesk
July 5 (BusinessDesk) – Business confidence was bouncing back strongly when the June 13 aftershocks hit Christchurch, and appears to remain robust, according to the country’s longest-running business confidence survey. More >>
NZX share trading jumps in June, debt trades fall
Tuesday, 5 July 2011, 10:53 am | BusinessDesk
July 5 (BusinessDesk) Share trading on NZX Ltd.’s markets jumped 78% last month while turnover of debt securities fell amid signs the domestic economy is proving more resilient in the wake of the Christchurch earthquakes. More >>
Auckland house listings near four-year low, Barfoot says
Tuesday, 5 July 2011, 10:29 am | BusinessDesk
July 5 (BusinessDesk) – Auckland house listings are at a four-year low as winter gloom and a tepid economic recovery sap home-buyers’ appetite to commit to a big-ticket purchase, according to real estate agency Barfoot & Thompson. More >>
Auckland Airport grants more ‘phantom’ options to Moutter
Tuesday, 5 July 2011, 10:19 am | BusinessDesk
July 5 (BusinessDesk) – Auckland International Airport Ltd., whose shares have outpaced the benchmark NZX 50 Index in the past three years, has granted chief executive Simon Moutter 2 million ‘phantom’ options and agreed to a one-time retention ... More >>
