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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 1541]
Perpetual Trust knocks back bid to save St Laurence vehicle
Friday, 24 June 2011, 2:56 pm | BusinessDesk
June 24 (BusinessDesk) – Perpetual Trust has called in the liquidator for another St Laurence unit after turning down options from the board to keep it afloat. More >>
Olam will loan more money to Farming Systems, won't lift bid
Friday, 24 June 2011, 1:34 pm | BusinessDesk
June 24 (BusinessDesk) – Olam International Ltd., the Singaporean food commodities group, has extended a credit limit to NZ Farming Systems Uruguay Ltd. More >>
NZ Trade and Enterprise won’t replace China Beachheads board
Friday, 24 June 2011, 1:15 pm | BusinessDesk
June 24 (BusinessDesk) – NZ Trade and Enterprise says it won’t replace the advisory board of its China Beachhead programme which was representing some of New Zealand’s high-growing companies in the world’s fastest-growing major economy. More >>
Comfort Group cleared to acquire Dunlop Living
Friday, 24 June 2011, 12:28 pm | BusinessDesk
June 24 (BusinessDesk) - New Zealand Comfort Group, which owns the Sleepyhead mattress brand, has gained approval from the Commerce Commission to buy bed and furniture manufacturer Dunlop Living Ltd. More >>
Nuplex teams with RPC to buy Fibrelogic for A$26 mln
Friday, 24 June 2011, 12:04 pm | BusinessDesk
June 24 (BusinessDesk) – Nuplex Industries Ltd., the specialty chemicals maker, has teamed up with RPC Technologies to acquire Fibrelogic Pipe Systems, Australia’s biggest maker of glass reinforced plastic pipes, for A$26 million. More >>
Midday update: NZTE Chinese trade board quits
Friday, 24 June 2011, 12:03 pm | BusinessDesk
June 24 (BusinessDesk) - The members of the China Beachhead advisory board have quit en masse after a breakdown with New Zealand Trade & Enterprise, the National Business Review reports. The board, chaired by expat businessman David Mahon, has ... More >>
Sam Morgan buys 2.4% stake of Ecoya for $1 mln
Friday, 24 June 2011, 10:23 am | BusinessDesk
June 24 (BusinessDesk) – Trade Me founder Sam Morgan has stumped up $1 million for a stake in scented candle and beauty products maker Ecoya Ltd. More >>
Auckland Airport's passenger numbers jump in May
Friday, 24 June 2011, 10:16 am | BusinessDesk
June 24 (BusinessDesk) - Auckland International Airport Ltd., the national gateway, saw a jump in international visitor arrivals in May, lead by increased traffic on Cairns and Singaporean routes. More >>
Stocks to watch: ALF, ARG, CCC, RBD, TEL, TLS, TWR
Friday, 24 June 2011, 9:41 am | BusinessDesk
June 24 (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 with commodity prices, Greece uncertainty
Friday, 24 June 2011, 8:33 am | BusinessDesk
June 24 (BusinessDesk) - The New Zealand dollar fell against the greenback as commodity prices tumbled and amid fresh fears Greece will default on its debt payments. More >>
While you were sleeping: Crude oil release roils markets
Friday, 24 June 2011, 7:32 am | BusinessDesk
(BusinessDesk) June 24 - A bleak picture painted by economic data from the U.S., Europe and China reinforced concerns that the global economy is heading in the wrong direction. A surprise release of emergency oil stockpiles by the International Energy ... More >>
MARKET CLOSE: NZ stocks rise; Telecom paces gainers
Thursday, 23 June 2011, 5:53 pm | BusinessDesk
June 23 (BusinessDesk) - New Zealand stocks rose, snapping five days of losses, with Telecom Corp. pacing gainers amid increased buying interest ahead of its structural separation. Freightways Ltd. fell. More >>
ANZ’s OnePath backs down on $46.5mln fee
Thursday, 23 June 2011, 5:22 pm | BusinessDesk
June 23 (BusinessDesk) – OnePath NZ Ltd., the fund manager owned by Australian & New Zealand Banking Group, has backed off its proposals to internalise the management of its two listed property trusts. More >>
Tower puts extra cost of reinsurance at $30mln-plus
Thursday, 23 June 2011, 5:03 pm | BusinessDesk
June 23 (BusinessDesk) – Tower Ltd., the insurer which counts Guinness Peat Group as its cornerstone shareholder, expects rising costs of reinsurance will lift its expenses by as much as $31 million this year. More >>
ANZ and Kiwibank lop mortgage rates for Chch relocations
Thursday, 23 June 2011, 4:58 pm | BusinessDesk
by Paul McBeth June 23 (BusinessDesk) – ANZ National Bank Ltd. and state-owned Kiwibank Ltd will cut two percentage points off prevailing mortgage interest rates for up to 12 months, to help Christchurch homeowners who are forced to relocate. More >>
Power eases up adviser regs on low risk savings products
Thursday, 23 June 2011, 2:56 pm | BusinessDesk
Power eases up adviser regs on low risk savings products June 23 (BusinessDesk) – Certain types of low-risk investment will face regulation under the new financial adviser regime, which comes into force next Friday. More >>
Govt to pay up to $635 mln for 5,100 damaged Chch properties
Thursday, 23 June 2011, 2:48 pm | BusinessDesk
June 23 (BusinessDesk) – The government will pay up to $635 million for some 5,100 houses in Christchurch that are beyond repair in a reasonable timeframe. More >>
Cavotec wins multi-miliion euro Moormaster order
Thursday, 23 June 2011, 2:12 pm | BusinessDesk
Cavotec wins multi-million euro Moormaster order June 23 (BusinessDesk) - Cavotec MSL Holdings said it has won a multi-million euro order to supply 24 of its MoorMaster units designed for handling containers ships to a Mediterranean sea port. More >>
Rayonier seeks clearance to buy Canterbury forests
Thursday, 23 June 2011, 1:08 pm | BusinessDesk
June 23 (BusinessDesk) – Matariki Forests Ltd., global forester Rayonier’s New Zealand arm, is seeking Commerce Commission permission to buy a swathe of Canterbury forest and farmland owned by the Christchurch City and Selwyn District councils. More >>
Restaurant Brands to sustain profits and increase dividends
Thursday, 23 June 2011, 12:52 pm | BusinessDesk
June 23 (BusinessDesk) - Restaurant Brands New Zealand Ltd., the fast food franchise operator, expects to sustain current levels of profitability and increase dividends although it is slowing the rate of refurbishment of its KFC stores which have been ... More >>
