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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 1552]
Govt to regulate environmental impacts in EEZ
Thursday, 2 June 2011, 11:33 am | BusinessDesk
June 2 (BusinessDesk) – Mining and oil exploration in New Zealand’s massive Exclusive Economic Zone and extended continental shelf will be regulated for the first time under an initiative announced by Environment Minister Nick Smith. More >>
Fronde turns to profit on cloud computing growth
Thursday, 2 June 2011, 11:16 am | BusinessDesk
June 2 (BusinessDesk) - Fronde Systems Group Ltd. turned to a full-year profit as growing business demand for cloud computing led to a surge in sales. More >>
Stocks to watch: CRP, GFF, NZS, PHB, TEL, TWR
Thursday, 2 June 2011, 9:33 am | BusinessDesk
June 2 (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 as weak U.S. data weighs on equities
Thursday, 2 June 2011, 8:33 am | BusinessDesk
June 2 (BusinessDesk) - The New Zealand dollar fell against the greenback, after weaker U.S employment and manufacturing figures weighed on equities and sapped investors' appetite for riskier, or higher yielding, assets. More >>
Milk powder prices rise 4.5% in Fonterra's latest auction
Thursday, 2 June 2011, 7:30 am | BusinessDesk
June 2 (BusinessDesk) – The average price of milk powder rose in Fonterra Cooperative Group’s latest online auction, reaching the highest level since early March, led by gains in skim milk powder. More >>
While you were sleeping: Stocks drop on economic worries
Thursday, 2 June 2011, 7:05 am | BusinessDesk
(BusinessDesk) June 2 - Equities fell as the latest data on U.S. jobs and manufacturing called into question the sustainability of the recovery in the world’s largest economy. More >>
MARKET CLOSE: NZ shares rise, led by Wrightson; HLG falls
Wednesday, 1 June 2011, 5:53 pm | BusinessDesk
June 1 (BusinessDesk) - New Zealand stocks rose, with PGG Wrightson Ltd. leading gainers after it agreed to sell its half stake of New Zealand Merino Co. for $7.6 million, while Hallenstein Glasson Holdings fell. More >>
Australia’s economy records biggest contraction in 20 years
Wednesday, 1 June 2011, 3:48 pm | BusinessDesk
June 1 (BusinessDesk) – Australia’s economy recorded its biggest contraction in 20 years in the first quarter, as floods and cyclones disrupted mining activity and damaged crops. More >>
Goodman Fielder at last appoints Chris Delaney as CEO
Wednesday, 1 June 2011, 3:27 pm | BusinessDesk
June 1 (BusinessDesk) - Goodman Fielder Ltd., the food ingredients manufacturer, has appointed a new chief executive after its last head left at the end of April. More >>
Reading Cinemas hires 17 local accountants for global hub
Wednesday, 1 June 2011, 2:30 pm | BusinessDesk
June 1 (BusinessDesk) – Reading International Inc., the U.S. parent of the local cinema chain, has hired 17 accountants to beef up a global back-office based in Wellington. More >>
NZ commodity prices rise to record, NZ dollar price eases
Wednesday, 1 June 2011, 2:04 pm | BusinessDesk
June 1 (BusinessDesk) – New Zealand commodity prices edged up to a new record in May, led by kiwifruit at the start of a new season. Prices in New Zealand dollars fell from a record level as the kiwi dollar climbed to a post-float high. More >>
NZ terms of trade rise to 37-year high
Wednesday, 1 June 2011, 11:37 am | BusinessDesk
June 10(BusinessDesk) – New Zealand's terms of trade rose their highest level since 1974 in the first three months of this year, bolstered by higher dairy, meat and petroleum prices. More >>
Insurance industry cautiously welcomes further ACC reform
Wednesday, 1 June 2011, 10:48 am | BusinessDesk
June 1 (BusinessDesk) – The insurance industry has cautiously welcomed ACC Minister Nick Smith’s proposals to allow employers to buy accident cover from private providers, while giving more firms the ability to manage the cost of injuries. More >>
Perpetual bolsters executive team with three promotions
Wednesday, 1 June 2011, 10:43 am | BusinessDesk
June 1 (BusinessDesk) - Pyne Gould Corp.'s wealth management unit Perpetual Group has bolstered its talent line up on its executive team with three promotions, according to a statement filed with the NZX today. More >>
NZ Farming Systems may sell farm at 23% above valuation
Wednesday, 1 June 2011, 10:00 am | BusinessDesk
June 1 (BusinessDesk) - NZ Farming Systems Uruguay Ltd., the South American farm operator controlled by Singapore’s Olam International Ltd., has a conditional agreement to sell its Los Naranjos farm which, if it goes unconditional during the next 60 ... More >>
Stocks to watch: ABA, CAV, CEN, HNZ, KMD, PGC, VCT
Wednesday, 1 June 2011, 9:47 am | BusinessDesk
June 1 (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 >>
Abano adds A$30M of bank debt to fund Australian dental
Wednesday, 1 June 2011, 9:30 am | BusinessDesk
June 1 (BusinessDesk) – Abano Healthcare Group, which buys and aggregates health clinics in Australasia and Asia, has tapped its bankers for another A$30 million to fast-track growth in its dental business across the Tasman. More >>
Wrightson sells stake in NZ Merino for $7.6 mln
Wednesday, 1 June 2011, 9:24 am | BusinessDesk
June 1 (BusinessDesk) – PGG Wrightson Ltd., the rural services company controlled by China’s Agria Corp., has agreed to sell its half share of New Zealand Merino Co. for $7.6 million. More >>
NZ dollar falls from post-float high
Wednesday, 1 June 2011, 8:35 am | BusinessDesk
June 1 (BusinessDesk) - The New Zealand dollar fell against the greenback, with the currency paring back gains following a rebound business confidence that suggested the economy is picking up pace. More >>
While you were sleeping: Stocks rise on Greek hopes
Wednesday, 1 June 2011, 7:24 am | BusinessDesk
(BusinessDesk) June 1 - Stocks on both sides of the Atlantic rose amid optimism Greece would receive more financial assistance to solve its debt crisis. Reports showing worse-than-expected economic data in the U.S. tempered gains. More >>
