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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 1547]
Stocks to watch: AIR, CAV, IRG, PGW, TWR, WDT
Tuesday, 14 June 2011, 9:37 am | BusinessDesk
June 14 (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 >>
Lyttelton Port sustains further damage from latest quakes
Tuesday, 14 June 2011, 9:05 am | BusinessDesk
June 14 (BusinessDesk) - Lyttelton Port Co., which took a $22.6 million asset writedown after the September earthquake, said it has sustained further damage in the latest aftershocks. More >>
NZ dollar falls on TWI-basis after Chch aftershocks
Tuesday, 14 June 2011, 8:40 am | BusinessDesk
June 14 (BusinessDesk) - The New Zealand dollar fell on a trade-weighted basis in the wake of two major aftershocks in Christchurch yesterday, but remained near recent highs amid solid offshore demand. More >>
While you were sleeping: Greek downgrade weighs on stocks
Tuesday, 14 June 2011, 7:01 am | BusinessDesk
(BusinessDesk) June 14 - Stocks on Wall Street started the day on a positive note, before giving up gains as a drop in oil prices and a downgrade of Greece’s credit rating hurt investors’ confidence. More >>
Key to lead major Indian trade mission
Monday, 13 June 2011, 6:04 pm | BusinessDesk
Key to lead major Indian trade mission June 13 (BusinessDesk) – Prime Minister John Key will spend almost a week in India at the end of the month, leading a 25-strong trade mission and a full media pack in a showcase election year mission to one of ... More >>
MARKET CLOSE: NZ stocks fall after quake; PPL drops
Monday, 13 June 2011, 5:58 pm | BusinessDesk
MARKET CLOSE: NZ stocks fall on quake, global growth fears; Pumpkin Patch drops, SkyCity gains More >>
The $13.5 mln net benefit of a wool scouring monopoly in NZ
Monday, 13 June 2011, 5:35 pm | BusinessDesk
June 13 (BusinessDesk) - Allowing New Zealand's biggest wool scouring company to acquire its rival and create a monopoly would yield a $13.5 million net benefit to the country over five years, which is sufficient to win approval from the Commerce ... More >>
Home sales up, values down in May, says REINZ
Monday, 13 June 2011, 5:13 pm | BusinessDesk
Home sales up, values down in May, says REINZ June 13 (BusinessDesk) - The volume of home sales continued to rise in May, although median price and the time taken to sell slipped further, according to the Real Estate Institute. More >>
UPDATE: Kiwi heads for 81 U.S. cents as 6.1 shake rocks Chch
Monday, 13 June 2011, 3:40 pm | BusinessDesk
UPDATE: Kiwi dollar heads for 81 U.S. cents as 6.1 aftershock rocks Christchurch More >>
NZ Dollar Outlook: Kiwi may fall as quakes delay recovery
Monday, 13 June 2011, 3:39 pm | BusinessDesk
NZ Dollar Outlook: Kiwi may extend slide as latest quakes delay recovery, hikes to OCR More >>
UPDATE: Kiwi heads for 81 U.S. cents as 6.1 shock hits Chch
Monday, 13 June 2011, 3:34 pm | BusinessDesk
UPDATE: Kiwi dollar heads for 81 U.S. cents as 6.1 aftershock rocks Christchurch More >>
Second aftershock hits kiwi dollar again
Monday, 13 June 2011, 3:17 pm | BusinessDesk
June 13 (BusinessDesk) - The New Zealand dollar fell heavily for the second time this afternoon after a second major aftershock hit Christchurch, losing 90 basis points to trade at 81.35 U.S. cents immediately after the 2.20 p.m. aftershock, which ... More >>
NZ dollar drops half a US cent on latest Christchurch quake
Monday, 13 June 2011, 2:25 pm | BusinessDesk
June 13 (BusinessDesk) - The New Zealand dollar dropped half a U.S. cent against the greenback after a 5.5 magnitude earthquake stuck Christchurch, followed by a 4.4 magnitude aftershock. More >>
For sale: one small Papakura golf course
Monday, 13 June 2011, 2:01 pm | BusinessDesk
by Paul McBeth June 13 (BusinessDesk) – Auckland property developers Paul Webb and Andrew Tauber have put the Papakura golf course on the block, a year after the local council blocked their bid to build a retirement village on the site. More >>
Tower takes EQC to court over Christchurch quake payouts
Monday, 13 June 2011, 1:39 pm | BusinessDesk
June 13 (BusinessDesk) - Insurance company Tower Ltd. is taking the government's Earthquake Commission (EQC) to the High Court over how much it will pay out on claims resulting from the Christchurch earthquakes. More >>
Investment Research buys sharechat website from Tarawera
Monday, 13 June 2011, 11:15 am | BusinessDesk
June 13 (BusinessDesk) – Investment Research Group Ltd., the financial services company that got an infusion of funds from investors including two Malaysian businessmen, has acquired the sharechat website from Rotorua-based Tarawera Publishing Ltd. More >>
WDT flags 1-for-20 share consolidation, CEO steps aside
Monday, 13 June 2011, 10:08 am | BusinessDesk
June 13 (BusinessDesk) – Wellington Drive Technologies Ltd., whose 2010 loss wiped out almost all of the new capital raised that year, plans to cancel 80% of its shares on issue and has shifted chief executive Ross Green into an advisory role. More >>
Stocks to watch: BFW, CAV, MFT, SAT, SKC, TEL
Monday, 13 June 2011, 9:51 am | BusinessDesk
June 13 (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 >>
SkyCity seeks expanded gambling for convention centre deal
Monday, 13 June 2011, 9:15 am | BusinessDesk
June 13 (BusinessDesk) – The government may ease gambling restrictions on SkyCity Entertainment Group if the casino operator agrees to foot the bill for a $350 million international convention centre. More >>
NZ dollar falls as growth fears trigger safe-haven buying
Monday, 13 June 2011, 8:31 am | BusinessDesk
June 13 (BusinessDesk) - The New Zealand dollar fell against the greenback, on growing investor concern that the global economy is slowing, prompting markets to increase their holding in so-called safe haven currencies such as the U.S. dollar. More >>
