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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 1545]
Global fund manager less bullish on stocks, eye bonds, cash
Friday, 17 June 2011, 12:28 pm | BusinessDesk
June 17 (BusinessDesk) - Global fund managers were less bullish about equities in the second quarter, having been strongly overweight three months earlier, as concerns about Europe's sovereign debt crisis and slowing global growth stoked interest in ... More >>
FMA drops suit against Insured Group over Lombard disclosure
Friday, 17 June 2011, 11:52 am | BusinessDesk
June 17 (BusinessDesk) – New Zealand’s Financial Markets Authority has dropped civil proceedings against Insured Group over alleged breaches of continuous disclosure rules by predecessor Lombard Group. More >>
Contact Energy named and shamed for billing blunder
Friday, 17 June 2011, 10:48 am | BusinessDesk
June 17 (BusinessDesk) – Contact Energy Ltd. owes refunds worth $280,000 to almost 25,000 former customers, who were denied final prompt payment discounts when they paid their final bills before switching to another supplier. More >>
Stocks to watch: AIR, AIA, HNZ, STU, TEL, XRO
Friday, 17 June 2011, 9:30 am | BusinessDesk
June 17 (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 slips on Greek uncertainty, weak U.S. data
Friday, 17 June 2011, 8:25 am | BusinessDesk
June 17 (BusinessDesk) - The New Zealand dollar fell against the greenback as further signs of weakness in the U.S. economy and concern Greece won’t enact reforms to win a bailout and avoid default sapped demand for growth-linked currencies. More >>
While you were sleeping: Greek concern weighs on stocks
Friday, 17 June 2011, 7:22 am | BusinessDesk
(BusinessDesk) June 17 - Worries that the failure to resolve Greece’s debt crisis will hamper Europe’s economic growth weighed on stocks on both sides of the Atlantic. More >>
MARKET CLOSE: NZ stocks fall; Pumpkin Patch leads decliners
Thursday, 16 June 2011, 5:53 pm | BusinessDesk
June 16 (BusinessDesk) - New Zealand stocks fell, snapping two days of gains, after global equity markets dropped, overshadowing improved local consumer confidence and manufacturing data. Pumpkin Patch Ltd. led decliners, while Goodman Fielder Ltd. ... More >>
Criminal status for cartels comes a step closer
Thursday, 16 June 2011, 5:38 pm | BusinessDesk
June 16 (BusinessDesk) – Price-fixing will become an imprisonable offence carrying a sentence of up to seven years if public consultation on a proposed new law cracking down on “hard-core” cartel behaviour is supportive. More >>
Westpac teams with Massey Uni to lift financial literacy
Thursday, 16 June 2011, 5:04 pm | BusinessDesk
June 16 (BusinessDesk) – Westpac Banking Corp., New Zealand’s second-biggest lender by assets, has joined with Massey University to lift the nation’s financial literacy. More >>
Mediaworks TV boss quits unexpectedly
Thursday, 16 June 2011, 3:48 pm | BusinessDesk
Mediaworks TV boss quits unexpectedly Thursday, 16 June 2011 June 16 (BusinessDesk) – MediaWorks NZ Ltd., which owns TV3 and radio stations including The Edge and RadioLive, has lost its head of television, Jason Paris, who unexpectedly resigned ... More >>
NZ manufacturing climbs to highest level in almost 12 mths
Thursday, 16 June 2011, 11:29 am | BusinessDesk
June 16 (BusinessDesk) - New Zealand manufacturing rose in May to its highest level in almost a year amid signs record-high prices for the country's commodities are beginning to filter through to the wider economy. More >>
NZ consumer confidence bounces back from earthquake gloom
Thursday, 16 June 2011, 11:18 am | BusinessDesk
June 16 (BusinessDesk) – New Zealanders have shaken off their pessimism after the Canterbury earthquakes and are more upbeat about spending. More >>
Norway's Stolt-Neilsen buys bulk liquids firm Marstel
Thursday, 16 June 2011, 10:34 am | BusinessDesk
June 16 (BusinessDesk) - Norway’s Stolt-Neilsen Ltd. has acquired Marstel Terminals, a trans-Tasman operator of bulk liquid storage and packaging. More >>
Stocks to watch: AIR, AMP, NZO, PPL, TEL, TUR
Thursday, 16 June 2011, 9:48 am | BusinessDesk
June 16 (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 Greek debt crisis, weaker U.S. data
Thursday, 16 June 2011, 8:26 am | BusinessDesk
June 16 (BusinessDesk) - The New Zealand dollar fell against the greenback as investors fled for safe haven assets amid further signs that Greece is heading for a default and after softer U.S. economic figures. More >>
Dairy product prices fall 2.6% in Fonterra auction
Thursday, 16 June 2011, 7:40 am | BusinessDesk
June 16 (BusinessDesk) – Average prices of dairy products fell from a three-month high in Fonterra Cooperative Group’s latest online auction, as commodity prices and equity markets weakened on doubts about the pace of U.S. economic growth and ... More >>
Stocks, oil drop on Greece, outlook
Thursday, 16 June 2011, 6:58 am | BusinessDesk
(BusinessDesk) June 16 - More disappointing U.S. economic data combined with intensifying concern about Greece's debt troubles sent stocks on Wall Street and in Europe lower. More >>
Southern Cross Cable plans to upgrade links next year
Wednesday, 15 June 2011, 6:02 pm | BusinessDesk
June 15 (BusinessDesk) – Southern Cross Cable Ltd., which owns and operates the major internet cable linking Australasia to the U.S., plans to upgrade its network next year to try and keep pace with rapidly growing consumer demands. More >>
MARKET CLOSE: NZ stocks rise; Pyne Gould leads gainers
Wednesday, 15 June 2011, 5:57 pm | BusinessDesk
June 15 (BusinessDesk) - New Zealand stocks rose for a second session, with Pyne Gould Corp. leading gainers after it agreed to help fund Heartland New Zealand Ltd.'s bid to expand its rural lending business. Tower Ltd. fell after shedding its dividend. More >>
Lyttelton Port braces for hike in insurance when policy ends
Wednesday, 15 June 2011, 2:03 pm | BusinessDesk
June 15 (BusinessDesk) - Lyttelton Port Co., the South Island's busiest port, is bracing itself for "big jump" in insurance costs as it looks to renew its cover, with the current policy set to lapse at the end of the month. More >>
