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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 1544]
Hubbard 'strenuously' denies 50 fraud charges laid by SFO
Monday, 20 June 2011, 5:17 pm | BusinessDesk
June 20 (BusinessDesk) - Timaru businessman Allan Hubbard "strenuously" denies 50 charges laid under the Crimes Act in relation to his activities at Aorangi Securities or Hubbard Management Funds, according to a statement from his lawyer. More >>
NZ current account surplus to go on treatment of reinsurance
Monday, 20 June 2011, 4:12 pm | BusinessDesk
June 20 (BusinessDesk) – New Zealand won’t now report a current account surplus for the first quarter after the government statistician changed the way it will account for reinsurance flows from the Christchurch earthquake. More >>
Allan Hubbard faces 50 fraud charges: SFO
Monday, 20 June 2011, 3:44 pm | BusinessDesk
June 20 (BusinessDesk) – Timaru businessman Allan Hubbard faces 50 charges of fraud after the Serious Fraud Office concluded a year-long probe into his business activities. More >>
NZ Dollar Outlook: Kiwi may fall amid Greek jitters
Monday, 20 June 2011, 2:43 pm | BusinessDesk
June 20 (BusinessDesk) - The New Zealand dollar may fall against the greenback this week, as already risk-adverse investors remain braced for further bad news from Greece and the U.S. More >>
Hubbards lawyer expects SFO statement today, Herald says
Monday, 20 June 2011, 2:10 pm | BusinessDesk
June 20 (BusinessDesk) – Lawyers representing South Island businessman Allan Hubbard and his wife say they’ve been told to expect an announcement from the Serious Fraud Office today after reports the government body plans to lay charges, the NZ Herald ... More >>
WEEKLY SPORTS DIGEST: McIlroy takes U.S. Golf Open
Monday, 20 June 2011, 1:20 pm | BusinessDesk
20/06/11 Executive sport summary– An overview of the major sporting events – Results, key moments and talking points – Everything you need to know to foot it at the water cooler this week. More >>
NZ economy shrank 0.1% in 1Q, seen accelerating from 2012
Monday, 20 June 2011, 1:16 pm | BusinessDesk
June 20 (BusinessDesk) – The New Zealand economy may have contracted 0.1% in the first quarter but recovered in the current three months and is expected to pick up pace in the next two years as Canterbury rebuilds, according to the NZIER Consensus ... More >>
NZ service sector accelerates for fourth month in May
Monday, 20 June 2011, 11:09 am | BusinessDesk
June 20 (BusinessDesk) – New Zealand’s service sector accelerated for a fourth month in May, led by new orders and sales, adding to signs that the commodity export boom is starting to seep through into the broader economy. More >>
Stocks to watch: ALF, LME, LPC, NZS, OGC, TEL
Monday, 20 June 2011, 9:41 am | BusinessDesk
June 20 (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 >>
Hart adds US$35 mln to seal Graham Packaging bid
Monday, 20 June 2011, 9:27 am | BusinessDesk
June 20 (BusinessDesk) – Reynolds Group Holdings, billionaire Graeme Hart’s packaging company, will acquire plastic-container maker Graham Packaging Co. after sweetening its cash offer by some US$35 million. More >>
NZ dollar gains with euro on optimism for Greek solution
Monday, 20 June 2011, 8:25 am | BusinessDesk
June 20 (BusinessDesk) - The New Zealand dollar rose against the greenback, following the euro higher after Germany signaled it would work together with European officials on a debt plan for Greece. More >>
Insurance inflows to ‘mask’ widening NZ current account gap
Monday, 20 June 2011, 8:22 am | BusinessDesk
June 20 (BusinessDesk) – New Zealand’s balance of payments probably swung to a surplus in the first quarter, driven by reinsurance flows for the Christchurch earthquakes, while the underlying current account deficit may have worsened. More >>
World Week Ahead: Benny and the Greeks
Monday, 20 June 2011, 7:21 am | BusinessDesk
(BusinessDesk) June 20 - As the week begins, two things are clear: U.S. Federal Reserve Chairman Ben Bernanke is preparing for his second press conference this year and there’s no resolution yet to the debt crisis gripping Greece. More >>
Independent Liquor in play as owners seek equity
Friday, 17 June 2011, 6:26 pm | BusinessDesk
by Jonathan Underhill June 17 (BusinessDesk) –Booze empire Independent Liquor is in play as buyout firms Pacific Equity Partners and Unitas seek an equity investor in the loss-making operation as they seek capital to expand offshore operations. More >>
MARKET CLOSE: NZ stocks fall; Pyne Gould leads decliners
Friday, 17 June 2011, 6:02 pm | BusinessDesk
June 17 (BusinessDesk) - New Zealand stocks fell for a second day, as the ongoing European debt crisis continued to grip regional markets. Pyne Gould Corp. led decliners, while NZX Ltd. rose. More >>
Latest quakes hit national credit applications
Friday, 17 June 2011, 5:16 pm | BusinessDesk
June 17 (BusinessDesk) – A steady increase in applications for new credit cards and loans is underway, but remains vulnerable to major Christchurch aftershocks, says national credit bureau Veda Advantage. More >>
Allied Farmers may have to write off Hanover loan on resort
Friday, 17 June 2011, 5:12 pm | BusinessDesk
June 17 (BusinessDesk) – Allied Farmers Ltd. may have to write off a former Hanover Finance loan over a Fijian island resort after Australia & New Zealand Banking Group appointed receivers to the venture. More >>
Telecom to credit retail online customers after meter glitch
Friday, 17 June 2011, 5:01 pm | BusinessDesk
June 17 (BusinessDesk) - Telecom Corp., New Zealand’s biggest phone company, says about 7% of its retail internet customers will be credited after a problem with its broadband metering software meant they hit their data limits earlier than they should ... More >>
Hart’s Reynolds rating outlook changed to negative on debt
Friday, 17 June 2011, 4:55 pm | BusinessDesk
June 17 (BusinessDesk) – Reynolds Group Holdings, billionaire Graeme Hart’s packaging company, had the outlook on its credit rating lowered to ‘negative’ by Standard & Poor’s on its plan to debt-fund a U.S. acquisition. More >>
Fonterra to tap Hong Kong bond market for 300 mln renminbi
Friday, 17 June 2011, 3:45 pm | BusinessDesk
June 17 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, will look to tap Hong Kong investors for some 300 million renminbi in its first Chinese currency denominated bond issue. More >>
