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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 1546]
NZ consumer confidence picks up in June on jobs, farming
Wednesday, 15 June 2011, 1:42 pm | BusinessDesk
June 15 (BusinessDesk) – New Zealanders are feeling more inclined to reach for their wallets as increased job opportunities and a buoyant rural sector stoke confidence. More >>
GFNZ halted from allotting securities by FMA
Wednesday, 15 June 2011, 12:39 pm | BusinessDesk
June 15 (BusinessDesk) – GFNZ Group Ltd., formerly Geneva Finance, has been ordered to stop allotting securities through its May 12 prospectus in the first use of new powers by New Zealand’s fledgling super-regulator, the Financial Markets Authority. More >>
NZ Oil & Gas wins permit in newly democratic Tunisia
Wednesday, 15 June 2011, 12:17 pm | BusinessDesk
June 15 (BusinessDesk) – New Zealand Oil & Gas has won a prospecting permit in newly democratic Tunisia and plans to spend about US$3 million over the two-year term gathering seismic data and analysing existing figures. More >>
Meridian begged twice for cover during energy price spike
Wednesday, 15 June 2011, 12:06 pm | BusinessDesk
June 15 (BusinessDesk) – Meridian Energy Ltd. begged Genesis Energy Ltd. to offer it lower-priced electricity during a March 26 incident that sent wholesale spot market electricity prices above $20,000 per Megawatt hour for about seven hours. More >>
NZ retail sales rise in first quarter on vehicle spending
Wednesday, 15 June 2011, 11:47 am | BusinessDesk
June 15 (BusinessDesk) - New Zealand retail sales rose in the first three months of the year, coming in ahead of expectations, led by motor vehicle-related spending. More >>
Hart tops rival bid for Graham Packaging with US$4.5B offer
Wednesday, 15 June 2011, 10:58 am | BusinessDesk
June 15 (BusinessDesk) – Billionaire packaging magnate Graeme Hart has trumped a rival suitor for Graham Packaging Co. with a cash and debt offer of US$4.5 billion for the American maker of plastic lids. More >>
Pumpkin Patch to abandon US, write off some UK stores
Wednesday, 15 June 2011, 10:36 am | BusinessDesk
June 15 (BusinessDesk) – Pumpkin Patch Ltd., the children’s clothing chain, plans to close its U.S. stores, write-off unprofitable outlets in the U.K. and cut head office staff, saying there’s no sign that ‘challenging and volatile’ markets ... More >>
Pumpkin Patch to abandon US, write off some UK stores
Wednesday, 15 June 2011, 10:30 am | BusinessDesk
June 15 (BusinessDesk) – Pumpkin Patch Ltd., the children’s clothing chain, plans to close its U.S. stores, write-off unprofitable outlets in the U.K. and cut head office staff, saying there’s no sign that ‘challenging and volatile’ markets ... More >>
Kathmandu opens four new stores ahead of crucial winter sale
Wednesday, 15 June 2011, 10:14 am | BusinessDesk
June 15 (BusinessDesk) – Kathmandu Holdings, the outdoor clothing and equipment retailer, said it’s opening four new stores to extend to geographic reach in Australia and New Zealand, taking total stores to 104. More >>
Latest quakes add $3.6 bln-to-$6 bln to Christchurch damage
Wednesday, 15 June 2011, 9:39 am | BusinessDesk
June 15 (BusinessDesk) – Monday’s Christchurch aftershocks are judged to have added as much as $6 billion in new damage, international catastrophe modelling firm EQECAT has advised the insurance industry. More >>
Stocks to watch: DEL, IRG, KMD, LPC, RBD, TEL
Wednesday, 15 June 2011, 9:33 am | BusinessDesk
June 15 (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 vs. Australian counterpart on China growth
Wednesday, 15 June 2011, 8:33 am | BusinessDesk
June 15 (BusinessDesk) - The New Zealand dollar fell to its lowest level in more than a week against the Australian dollar after better-than-expected Chinese manufacturing figures suggested demand for Australia’s hard commodities will remain strong. More >>
While you were sleeping: Chinese, US data spark rebound
Wednesday, 15 June 2011, 7:38 am | BusinessDesk
(BusinessDesk) June 15 - Equities on Wall Street enjoyed a relief rally after data on Chinese industrial production and U.S. retail sales exceeded expectations. More >>
MARKET CLOSE: NZ stocks rise; Telecom leads gainers
Tuesday, 14 June 2011, 5:56 pm | BusinessDesk
June 14 (BusinessDesk) - New Zealand stocks rose led by Telecom Corp. after legislation related to the ultrafast broadband project cleared its second to last hurdle in Parliament, lifting investors' hopes the company may split in two before the end of the year. ... More >>
Freight forwarding companies hit with $5.2M over cartel
Tuesday, 14 June 2011, 4:03 pm | BusinessDesk
June 14 (BusinessDesk) – Three freight forwarding companies, BAX Global Inc., Schenker AG and Panalpina World Transport Holdings Ltd. have been ordered to pay $5.2 million in penalties plus costs for breaches of New Zealand’s competition law. More >>
CORRECT: Wrightson to cancel $6.8M in loans to former execs
Tuesday, 14 June 2011, 1:47 pm | BusinessDesk
June 14 (BusinessDesk) – PGG Wrightson Ltd., which today announced the sale of its finance unit to Heartland New Zealand Ltd., will cancel almost $6.8 million in loans to former and outgoing executives at the end of the month. More >>
NZ food prices rise in May
Tuesday, 14 June 2011, 11:16 am | BusinessDesk
June 14 (BusinessDesk) - New Zealand food prices rose in May, led by a jump in fruit and vegetables following a decline in produce costs last month. More >>
NZ primary sector exports to surge by 2015 on weaker dollar
Tuesday, 14 June 2011, 10:33 am | BusinessDesk
NZ primary sector exports to surge by 2015 on weaker dollar, increased output, MAF says More >>
Heartland expands in rural lending, buys Wrightson Finance
Tuesday, 14 June 2011, 9:53 am | BusinessDesk
June 14 (BusinessDesk) – Heartland New Zealand Ltd., the lender built from the merger of Marac Finance and Canterbury and Southern Cross building societies, is expanding in rural lending with the $100 million bid for PGG Wrightson Ltd.’s finance ... More >>
New Zealand rule of law ranks best in region
Tuesday, 14 June 2011, 9:39 am | BusinessDesk
New Zealand rule of law ranks best in region June 14 (BusinessDesk) – New Zealand rates the best in the Asia-Pacific region for the quality of its legal system and the rule of law, although its civil courts are criticised as slower than most high ... More >>
