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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 1555]
Telecom credit rating outlook kept negative by S&P
Friday, 27 May 2011, 4:29 pm | BusinessDesk
May 27 (BusinessDesk) – Telecom Corp.’s credit rating was kept on CreditWatch with negative implications by Standard & Poor’s, which said the demerger of its network business would “weaken” the company’s risk profile. More >>
Pharmacybrands boosts profit 46% on Life Pharmacy buy-up
Friday, 27 May 2011, 3:53 pm | BusinessDesk
May 27 (BusinessDesk) – Pharmacybrands Ltd., which manages the Unichem, Amcal, and Care Chemist stores, boosted full-year profit 46%, helped by a full 12 months contribution from the Life Pharmacy. It plans to raise new capital to fund recent ... More >>
Sealegs back in the red as it keeps spending on growth
Friday, 27 May 2011, 3:40 pm | BusinessDesk
May 27 (BusinessDesk) - Sealegs Corp., the amphibious boat manufacturer, made a loss of $3.6 million as it keeps pumping in money to tap new markets and develop new products. More >>
McCully urges Japan to join TPP trade pact talks
Friday, 27 May 2011, 2:23 pm | BusinessDesk
May 27 (BusinessDesk) – Japan should avoid slowing down its drive for economic reforms because of the country’s devastating March 11 tsunami, but press harder on a free trade agenda to help its economy to recovery, New Zealand Foreign Minister ... More >>
Contact's Hauauru ma raki wind farm wins final approval
Friday, 27 May 2011, 12:52 pm | BusinessDesk
May 27 (BusinessDesk) - Contact Energy Ltd., New Zealand's biggest listed energy company, has cleared the last regulatory step on its 504 Megawatt Hauauru ma raki wind farm, the largest facility of its kind to win resource consent so far. More >>
Goldman Sachs nets smaller return from pared-back NZ busines
Friday, 27 May 2011, 12:45 pm | BusinessDesk
May 27 (BusinessDesk) – Goldman Sachs & Partners New Zealand Holdings, the local joint venture with the New York-based investment bank, made a smaller profit in 2010 after paring back its business a year earlier. More >>
Tourism Holdings worth more than Ballylinch offer: report
Friday, 27 May 2011, 11:59 am | BusinessDesk
May 27 (BusinessDesk) – Tourism Holdings Ltd., the campervan rental company, is worth more than investor John Grace’s offer for control, according to an independent valuation. More >>
NZ local body disaster fund cut to B- by Fitch
Friday, 27 May 2011, 10:51 am | BusinessDesk
May 27 (BusinessDesk) – The Local Authority Protection Programme Disaster Fund (LAPP), which was set up by local bodies to replace infrastructure after natural disasters, had its financial strength rating cut to B- from B by Fitch ratings, citing ... More >>
Tower first-half profit tumbles 54% on quake costs
Friday, 27 May 2011, 10:06 am | BusinessDesk
May 27 (BusinessDesk) – Tower Ltd., the insurer that’s 35%owned by Guinness Peat Group, posted a 54% decline in first-half profit on Christchurch earthquake costs, valuation changes and weaker sales. More >>
Stocks to watch: ARG, ECO, FPA, OIC, PPG, SPY, TTK, TEL, TWR
Friday, 27 May 2011, 9:47 am | BusinessDesk
May 27 (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 >>
F&P Appliances returns to profit, flags ‘challenging' year
Friday, 27 May 2011, 9:42 am | BusinessDesk
May 27 (BusinessDesk) – Fisher & Paykel Appliances Holdings, the whiteware manufacturer, met earnings guidance as it returned to profit, though flagged tough times are still ahead. More >>
NZ dollar hits 3-year high on demand for NZ assets
Friday, 27 May 2011, 8:27 am | BusinessDesk
May 27 (BusinessDesk) - The New Zealand dollar rose to its highest level against the greenback in just over three years after a report claimed China's sovereign wealth fund may be looking to boost is purchase of local assets. More >>
While you were sleeping: US stocks rise, IMF warns Greece
Friday, 27 May 2011, 7:28 am | BusinessDesk
May 27 (BusinessDesk) - Stocks on Wall Street gained as better-than-expected corporate earnings helped make up for revised economic growth figures that showed American isn't expanding at as fast a clip as thought. More >>
MARKET CLOSE: NZ stocks fall; Kathmandu drops
Thursday, 26 May 2011, 6:02 pm | BusinessDesk
May 26 (BusinessDesk) - New Zealand stocks fell for a second day, with retailers leading the exchange lower amid lingering investor uncertainties around the sector's outlook. Kathmandu Holdings led decliners, while Mainfreight Ltd. rose More >>
Barramundi shares rebound from Pharmaxis blow
Thursday, 26 May 2011, 5:56 pm | BusinessDesk
May 26 (BusinessDesk) - Shares in Barramundi Ltd., the investor in small and mid-cap Australian stock managed by Fisher Funds Management Ltd., recouped some of yesterday’s losses when the stock fell when investment Pharmaxis Ltd. said it expected to have ... More >>
Receiverships for two Serepisos companies
Thursday, 26 May 2011, 5:21 pm | BusinessDesk
May 26 (BusinessDesk) – Receivers have been called on two Wellington property-owning companies connected with developer Terry Serepisos. More >>
James Pascoe buys REDgroup's Whitcoulls, Borders NZ
Thursday, 26 May 2011, 4:51 pm | BusinessDesk
May 26 (BusinessDesk) - The administrator of Australia bookseller REDgroup Retail has agreed to sell the ailing company's Whitcoulls and Borders New Zealand businesses for an undisclosed sum to James Pascoe Group, owner of the Farmers stores. More >>
Ecoya beats prospectus forecast with smaller annual loss
Thursday, 26 May 2011, 3:49 pm | BusinessDesk
May 26 (BusinessDesk) - Ecoya Ltd., the start-up scented candle and skincare products company, beat its prospectus forecast by posting higher sales and a low bottom-line loss for the year ended March 31. More >>
Goldman Sachs wins enough support to mop up Australian unit
Thursday, 26 May 2011, 2:03 pm | BusinessDesk
May 26 (BusinessDesk) Goldman Sachs Group Inc., the Wall Street investment bank, said it has gained enough backing to buy the 55% of is Australian joint venture that it doesn’t already own. More >>
Foxtel bids A$1.9 bln for smaller rival Austar
Thursday, 26 May 2011, 1:36 pm | BusinessDesk
Foxtel bids A$1.9 bln for smaller rival Austar, for push into rural Australia More >>
