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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 1551]
Telecom carve-up begins as wholesale head reports to Chorus
Friday, 3 June 2011, 4:08 pm | BusinessDesk
June 3 (BusinessDesk) – Telecom Corp. is paving the way for structural separation, directing the head of its wholesale unit to report to Chorus chief executive Mark Ratcliffe. More >>
NZF resumes home lending with new partners almost on board
Friday, 3 June 2011, 3:10 pm | BusinessDesk
June 3 (BusinessDesk) – NZF Group, the financial services firm which fell deeper into the red last year, has started issuing home loans again as it prepares to welcome new business partners. More >>
Bathurst jumps into ASX200
Friday, 3 June 2011, 2:23 pm | BusinessDesk
June 3 (BusinessDesk) – West Coast coking coal project developer Bathurst Resources Ltd. has been added to the ASX-200 index, just days after issuing a “don’t know” answer to a “please explain” from the Australian Stock Exchange over its rocketing ... More >>
Christchurch reconstruction lifts building consents in April
Friday, 3 June 2011, 11:51 am | BusinessDesk
June 3 (BusinessDesk) - The start of the Christchurch rebuild has helped New Zealand's residential building consents rise in April, extending gains in the previous month, but new construction projects are still languishing at depressed levels compared ... More >>
Argosy independent directors see $4.2M of savings
Friday, 3 June 2011, 11:44 am | BusinessDesk
June 3 (BusinessDesk) - Argosy Property Trust’s independent directors say the group could achieve cost savings of $4.2 million by internalising its management contract, almost as much as DNZ Property Fund Ltd. is touting in annual savings via a merger. More >>
NZX trading surges 40.7% in May, driven by equities
Friday, 3 June 2011, 10:49 am | BusinessDesk
June 3 (BusinessDesk) - Trading on the NZX Ltd. securities markets soared 40.7% last month, driven by continued strong turnover in equities while debt transactions fell. More >>
Windflow reports ‘increasing fundamental uncertainty’
Friday, 3 June 2011, 10:27 am | BusinessDesk
June 3 (BusinessDesk) – Christchurch two-bladed wind turbine pioneer Windflow Technology Ltd. reports it is experiencing “increasing fundamental uncertainty regarding the future of the business” and is accelerating plans to let others use its gearbox ... More >>
Allied taps former Fonterra exec as new rural CEO
Friday, 3 June 2011, 10:14 am | BusinessDesk
June 3 (BusinessDesk) - Allied Farmers Ltd., the rural services company which failed to transform itself into a major lender, has tapped former Fonterra executive Steve Morrison as the new chief executive of its rural division. More >>
Auckland house prices slip in May while volume of sales grow
Friday, 3 June 2011, 9:57 am | BusinessDesk
June 3 (BusinessDesk) – Auckland house prices fell in May, after three months of gains, while the volume of sales rose, according to real estate firm Barfoot & Thompson. More >>
Stocks to watch: CEN, DNZ, FPH, LPC, NZO, NZS
Friday, 3 June 2011, 9:29 am | BusinessDesk
June 3 (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 >>
Finance company concentration bad investment advice: judge
Friday, 3 June 2011, 9:25 am | BusinessDesk
June 3 (BusinessDesk) - A financial planner gave bad advice by recommending her client put a large chunk of cash into finance companies, but not because she recommended investing in them individually. More >>
SFO probes Greywolf mining applications
Friday, 3 June 2011, 8:52 am | BusinessDesk
June 3 (BusinessDesk) – The Serious Fraud Office has launched a probe into Australian explorer and miner Greywolf Resources NL's exploration applications. More >>
Northern Crest, last Bryers vehicle, placed in liquidation
Friday, 3 June 2011, 8:29 am | BusinessDesk
June 3 (BusinessDesk) - Northern Crest Investments Ltd., the last surviving business of Mark Bryers’ failed Blue Chip group, has been placed in liquidation. More >>
NZ dollar rises as greenback slides on Moody's US warning
Friday, 3 June 2011, 8:29 am | BusinessDesk
June 3 (BusinessDesk) - The New Zealand dollar rose against the greenback after Moody's Investors Service warned the U.S. could face a possible ratings downgrade if politicians don’t break the debt ceiling deadlock. More >>
Bollard may jawbone currency at MPS, reiterate steady-state
Friday, 3 June 2011, 8:23 am | BusinessDesk
June 3 (BusinessDesk) - Reserve Bank Governor Alan Bollard may signal his disapproval of the high New Zealand dollar when he releases the Monetary Policy Statement next week, which is expected to project no change in interest rates through 2011. More >>
While you were sleeping: Hope for Greece offset US jobs woes
Friday, 3 June 2011, 7:50 am | BusinessDesk
(BusinessDesk) June 3 - Optimism about a pending bailout package for Greece was offset by concern that tomorrow’s U.S. jobs report will confirm recent data suggesting the recovery of the world’s largest economy is faltering. More >>
MARKET CLOSE: NZ stocks fall; Goodman Fielder leads slide
Thursday, 2 June 2011, 5:58 pm | BusinessDesk
June 2 (BusinessDesk) - New Zealand stocks fell as a slide on Wall Street in the wake of weaker U.S. manufacturing and employment data spilled over into Asia-Pacific equity markets. Goodman Fielder Ltd. led decliners, while Pyne Gould Corp. rose More >>
NZ Cabinet firms up securities exchange regulation
Thursday, 2 June 2011, 4:58 pm | BusinessDesk
June 2 (BusinessDesk) – The government has confirmed it will impose a system of regulation on securities exchanges and gave details of proposed penalties for breaches as it progresses the overhaul of securities law. More >>
Treasury calls for looser foreign investment rules
Thursday, 2 June 2011, 2:58 pm | BusinessDesk
June 2 (BusinessDesk) – New Zealand should stop screening foreign investments and remove other obstacles that may deter foreigners from buying the nation’s assets, acting Treasury head Gabriel Makhlouf says. More >>
Contact raises $331.9M for geothermal plant in rights issue
Thursday, 2 June 2011, 2:55 pm | BusinessDesk
June 1 (BusinessDesk) – Contact Energy Ltd., the country’s third-biggest listed company, raised $331.9 million as almost two thirds of shareholders exercised rights for new shares. More >>
