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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 1548]
WEEKLY SPORTS DIGEST: Stoner thrives on wet track
Monday, 13 June 2011, 8:26 am | BusinessDesk
13/06/11 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 >>
World Week Ahead: Uneven meets ugly
Monday, 13 June 2011, 7:25 am | BusinessDesk
By Timothy Moore June 13 (BusinessDesk) – Federal Reserve Chairman Ben Bernanke sure has it right: the U.S. economic recovery has been, is currently and will continue to be “uneven”. More >>
MARKET CLOSE: NZ stocks mixed; Goodman Fielder leads gainers
Friday, 10 June 2011, 5:54 pm | BusinessDesk
June 10 (BusinessDesk) - New Zealand stocks were mixed, with Goodman Fielder Ltd. leading gainers on the exchange after rebounding after a sell-off on its exclusion from the MSCI Australia Index. NZX Ltd. fell. More >>
NZF set to cede control of home loans to Australian partner
Friday, 10 June 2011, 5:39 pm | BusinessDesk
June 10 (BusinessDesk) – NZF Group is set to give up control of its profitable home lending unit as it gets into the final stages of securing a new business partner. More >>
Looming OCR hikes reanimate fixed v floating mortgage debate
Friday, 10 June 2011, 4:48 pm | BusinessDesk
June 10 (BusinessDesk) - Signals from the Reserve Bank that it may begin hiking the official cash rate this year will undoubtedly spark a debate among homeowners on whether they should considering keeping their mortgages on a floating rate or fix ... More >>
NZ foresters have brighter outlook than processors: Westpac
Friday, 10 June 2011, 3:32 pm | BusinessDesk
June 10 (BusinessDesk) – New Zealand forest owners face a relatively bright future on growing global demand for timber though local wood processors face headwinds from rising costs, a high kiwi dollar and rivalry from lower-cost competitors overseas. More >>
Shell puts Ruru drilling on hold till summer
Friday, 10 June 2011, 3:19 pm | BusinessDesk
June 10 (BusinessDesk) – Shell New Zealand Ltd. is putting its latest Maui oil and gas field exploration drilling on hold until summer, after multiple disruptions caused by inclement winter weather, country chairman Rob Jaeger has told the ENEX ... More >>
Godfrey Hirst to appeal Cavalier scour ruling
Friday, 10 June 2011, 12:41 pm | BusinessDesk
June 10 (BusinessDesk) – Godfrey Hirst NZ Ltd., the country’s biggest carpet manufacturer, is appealing antitrust regulator approval for the creation of a wool scouring monopoly. More >>
Burger Fuel posts skinny maiden annual profit
Friday, 10 June 2011, 11:26 am | BusinessDesk
June 10 (BusinessDesk) – Burger Fuel Worldwide turned in a skinny $33,513 maiden annual net profit - the result of solid Middle East trading, consolidation in New Zealand, cost cutting and closing its company-owned Kings Cross, Sydney store. More >>
NZ retail spending on credit, debit cards falls 0.8% in May
Friday, 10 June 2011, 11:19 am | BusinessDesk
June 10 (BusinessDesk) – New Zealanders trimmed their retail spending on credit and debit cards last month, a sign that many consumers are still focused on reducing debt. More >>
Allied Farmers wins 9-month reprieve on repaying $7.5M loan
Friday, 10 June 2011, 10:59 am | BusinessDesk
June 10 (BusinessDesk) – Allied Farmers Ltd. has gained a nine-month reprieve on repaying a $7.5 million loan to the recovers of its failed Allied Nationwide Finance unit that was due on July 1. More >>
Cavalier venture wins antitrust approval to buy WSI scours
Friday, 10 June 2011, 10:12 am | BusinessDesk
June 10 (BusinessDesk) – The Commerce Commission has cleared Cavalier Wool Holdings to acquire the wool scouring assets of rival NZ Wool Services International, creating a New Zealand monopoly in the wool processing services. More >>
Stocks to watch: AIR, CAV, FPA, KMD, MVN, NZO
Friday, 10 June 2011, 9:40 am | BusinessDesk
June 10 (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 >>
Paykel to stay on F&P Appliances board for another 12 months
Friday, 10 June 2011, 9:33 am | BusinessDesk
June 10 (BusinessDesk) – Gary Paykel has pushed out his retirement from the board of Fisher & Paykel Appliances Holdings for another 12 months as the whiteware manufacturer comes to grips with two unexpected departures. More >>
NZ dollar hits fresh post-float high on economic outlook
Friday, 10 June 2011, 8:40 am | BusinessDesk
June 10 (BusinessDesk) - The New Zealand dollar hit a fresh post-float high against the greenback, with the currency riding the momentum from a more upbeat economic outlook from the Reserve Bank, as well as a bounce in equity and commodity markets. More >>
Bollard surprised by market reaction to MPS as kiwi soars
Friday, 10 June 2011, 7:45 am | BusinessDesk
June 10 (BusinessDesk) – Reserve Bank Governor Alan Bollard says he is surprised by the reaction in financial markets to his more upbeat take on the New Zealand economy which has pushed the kiwi dollar to a new post-float high. More >>
While you were sleeping: Made in America
Friday, 10 June 2011, 7:42 am | BusinessDesk
(BusinessDesk) June 10 - It's been some time since there was any good news about the U.S. economy but that's exactly what investors got with the latest trade data. More >>
MARKET CLOSE: NZ stocks fall to six-week low, led by Contact
Thursday, 9 June 2011, 5:43 pm | BusinessDesk
June 9 (BusinessDesk) - New Zealand stocks fell to their lowest level in six weeks after the central bank flagged a resumption of interest rate hikes this year. Contact Energy Ltd. led decliners, and Methven Ltd. rose. More >>
Train engineers, bakers laid off in provincial New Zealand
Thursday, 9 June 2011, 5:10 pm | BusinessDesk
June 9 (BusinessDesk) – As many as 85 people will lose their jobs as a result of redundancies at KiwiRail’s Dunedin engineering workshop and the receivership of Taranaki bakery Yarrow’s (The Bakers) Ltd. More >>
Kathmandu founder Cameron takes A$20M punt on rival Macpac
Thursday, 9 June 2011, 4:56 pm | BusinessDesk
June 9 (BusinessDesk) - Jan Cameron, the founder of the Kathmandu Holdings retail chain, has invested A$20 million in rival retailer Macpac after a five-year non-compete agreement expired last month, the Australian Financial Review reported. More >>
