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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 1553]
High NZ dollar gives Bollard more time to hike OCR
Wednesday, 1 June 2011, 1:35 am | BusinessDesk
High NZ dollar gives Bollard more time to hike OCR as inflation stirs, NZIER says More >>
MARKET CLOSE: PGC leads NZX higher
Tuesday, 31 May 2011, 6:01 pm | BusinessDesk
May 31 (BusinessDesk) - New Zealand stocks fell for the first time in three sessions, with Pyne Gould Corp leading gainers after distributing its stake in Building Society Holdings among shareholders. APN News & Media Ltd. led decliners. More >>
UPDATED: Heitiki to rebrand controversial infant formula
Tuesday, 31 May 2011, 5:57 pm | BusinessDesk
UPDATED: Heitiki to rebrand controversial infant formula (BusinessDesk) – The Chinese infant milk formula company behind the Heitiki brand is to rebrand to remove any reference to Maori culture, saying it intended no offece. More >>
Two major Kiwi companies on the rocks
Tuesday, 31 May 2011, 5:27 pm | BusinessDesk
May 31 (BusinessDesk) – The prolonged recession appears to have done for two of New Zealand’s most well-established manufacturing businesses – global Christchurch-based busmaker DesignLine and long-standing Taranaki baker Yarrow’s Ltd. More >>
MAF announces probe into Heitiki infant formula
Tuesday, 31 May 2011, 2:54 pm | BusinessDesk
May 31 (BusinessDesk) – The Ministry of Agriculture and Forestry has commenced an investigation into Kaiora New Zealand International, a company alleged to be selling and exporting Heitiki infant formula. More >>
Serepisos troubles hit HQ
Tuesday, 31 May 2011, 2:38 pm | BusinessDesk
May 31 (BusinessDesk) – Lenders on one of Terry Serepisos’s prime assets, including his own head office, are moving to acquire the waterfront Todd Building on Wellington’s central city Hunter Street. More >>
Phosphate and fuel costs push sheep and beef farm inflation
Tuesday, 31 May 2011, 2:07 pm | BusinessDesk
May 31 (BusinessDesk)- A strong New Zealand dollar is the only thing to have stood between steeply rising fertiliser and fuel costs in the last year, with on-farm inflation up 4.1% in the year to March. More >>
Dorchester rescue ups net profit, operating losses continue
Tuesday, 31 May 2011, 2:00 pm | BusinessDesk
May 31 (BusinessDesk) - Dorchester Pacific reported a $14.1 million annual net profit but that was entirely due to the $22.4 million benefit from last year's debt-for-equity swap rescue. More >>
NZ dollar hits new post-float high on upbeat business survey
Tuesday, 31 May 2011, 1:36 pm | BusinessDesk
May 31 (BusinessDesk) – The New Zealand dollar made a new post-float high of 82.55 U.S. cents after a business survey flagged signs of recovery in the nation’s economy. More >>
NZ business confidence rebounds as firms see profit growth
Tuesday, 31 May 2011, 1:29 pm | BusinessDesk
May 31 (BusinessDesk) – New Zealand business confidence rebounded this month, with firms seeing growth in profits, giving them more reason to hire workers and invest in their operations. The kiwi dollar rose to a new post-float high after the report. More >>
Auckland CBD rail link plan knocked back, more work required
Tuesday, 31 May 2011, 12:24 pm | BusinessDesk
May 31 (BusinessDesk) – Auckland City Council Mayor Len Brown’s plan for a CBD rail link has been knocked back by central government officials, who conclude the benefits promised in the business case are vastly over-stated. More >>
NZ March accommodation numbers drop after quake
Tuesday, 31 May 2011, 11:51 am | BusinessDesk
May 31 (BusinessDesk) - New Zealand's accommodation nights fell in March, led by the Canterbury region as the effects of the Feb. 22 earthquake in Christchurch saw international demand for overnight stays slump. More >>
NZF Group loss widens as bad property loans mount
Tuesday, 31 May 2011, 11:07 am | BusinessDesk
May 31 (BusinessDesk) – NZF Group, the listed financial services company, posted a wider annual loss on charges against bad loans. More >>
Restaurant Brands 1Q sales fall
Tuesday, 31 May 2011, 10:01 am | BusinessDesk
May 31 (BusinessDesk) – Restaurant Brands New Zealand Ltd., the fast food franchise operator, reported a 4.4% fall in first-quarter sales as the February earthquake in Christchurch keeps stores closed at a cost of some $2.5 million. More >>
Govt kicks off public sector mergers and abolitions
Tuesday, 31 May 2011, 9:50 am | BusinessDesk
Govt kicks off public sector mergers and abolitions May 31 (BusinessDesk) – The first wave of long-heralded government department amalgamations and disestablishments aims to merge the Education Review Office and New Zealand Qualifications Authority, ... More >>
Stocks to watch: ARG, FPH, HLG, OGC, RAK, RBD, TEL
Tuesday, 31 May 2011, 9:40 am | BusinessDesk
May 31 (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 >>
Argosy returns to profit as property values creep up
Tuesday, 31 May 2011, 9:30 am | BusinessDesk
May 31 (BusinessDesk) – Argosy Property Trust, which is being courted by rival DNZ Property Fund Ltd., returned to profit in the year through March as the value of its portfolio edged up, even as rental income declined. More >>
NZ dollar falls from post-float high before confidence data
Tuesday, 31 May 2011, 8:33 am | BusinessDesk
May 31 (BusinessDesk) - The New Zealand dollar fell from a post-float high against the greenback, with overseas flows subdued because of U.K. and U.S. public holidays, before the release of a survey on business confidence. More >>
MARKET CLOSE: NZ stocks rise; Kathmandu leads gainers
Monday, 30 May 2011, 6:07 pm | BusinessDesk
May 30 (BusinessDesk) - New Zealand stocks rose. Kathmandu Holdings led gainers on speculation the kiwi dollar’s post-float high signals more buying power for importers of Chinese goods. Hallenstein Glasson Holdings fell. More >>
NZ dollar strength not sustainable for manufacturers: Key
Monday, 30 May 2011, 5:22 pm | BusinessDesk
May 30 (BusinessDesk) – The New Zealand dollar’s strength, which was propelled to a new post-float high today, isn’t sustainable for local manufacturers who aren’t benefiting from record commodity prices, Prime Minister John Key says. More >>
