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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 1556]
Argosy independent directors urge buyout first
Thursday, 26 May 2011, 10:47 am | BusinessDesk
May 26 (BusinessDesk) - Argosy Property Trust's independent directors say buying out its management contract from ANZ Bank-owned OnePath Ltd. will put it in the strongest position to consider all future proposals, including DNZ Property Fund Ltd.'s takeover ... More >>
Antitrust regulator issues proceeding against Telecom
Thursday, 26 May 2011, 10:17 am | BusinessDesk
May 26 (BusinessDesk) - The Commerce Commission is set to issue proceedings against Telecom Corp. for not giving equal access to rivals on its unbundled copper network. The phone company’s shares sank 1.8%. More >>
SmartPay stems annual losses as sales grow 20%
Thursday, 26 May 2011, 10:12 am | BusinessDesk
May 26 (BusinessDesk) – SmartPay, which provides electronic payment systems, about broke even in the latest full year, turning from a 2010 loss as sales rose faster than costs. More >>
Stocks to watch: BRM, MFT PPG, RYM, SAN, SKC, SPY, TEL
Thursday, 26 May 2011, 9:47 am | BusinessDesk
May 26 (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 >>
Postie Plus lifts third quarter sales, grabs market share
Thursday, 26 May 2011, 9:31 am | BusinessDesk
May 26 (BusinessDesk) - Clothing retailer Postie Plus Group says market share growth helped third quarter sales grow in a tough market after a successful market campaign. More >>
Global freight recovery pushes Mainfreight to record profit
Thursday, 26 May 2011, 9:28 am | BusinessDesk
May 26 (BusinessDesk) – Mainfreight Ltd., which recently bought Holland’s Wim Bosman Group, achieved record earnings in the 2011 financial year as a recovery in global freight supported its grab for market share. More >>
NZ dollar rises as commodities, equities rally
Thursday, 26 May 2011, 8:29 am | BusinessDesk
May 26 (BusinessDesk) - The New Zealand dollar rose against most major currencies, after commodity prices and equities snapped their recent streak of declines. More >>
While you were sleeping: Stocks, commodities gain
Thursday, 26 May 2011, 7:40 am | BusinessDesk
May 26 (BusinessDesk) - Stocks gained in the U.S. and Europe as prices of commodities gained, overshadowing weaker-than-expected American durable goods and house prices. More >>
MARKET CLOSE: NZ stocks fall; F&P Healthcare leads decliners
Wednesday, 25 May 2011, 5:49 pm | BusinessDesk
May 25 (BusinessDesk) - New Zealand stocks fell, with Fisher & Paykel Healthcare Corp. leading decliners after posting a 27% drop in full-year profit after a high New Zealand dollar eroded the benefits of record sales. Telecom Corp. rose. More >>
Sanford upbeat on earnings as global prices rise
Wednesday, 25 May 2011, 5:10 pm | BusinessDesk
May 25 (BusinessDesk) – Sanford Ltd., the fishing company whose chairman died suddenly this month, expects earnings growth in the second half of the year on the back of solid global commodity prices. More >>
Falling revenue drives Southern Cross-Aorangi tie-up request
Wednesday, 25 May 2011, 4:58 pm | BusinessDesk
May 25 (BusinessDesk) – Southern Cross Healthcare Group and Aorangi Hospital Ltd. are seeking clearance to merge their Palmerston North private hospitals in the face of dwindling revenue. More >>
Whitehead’s swansong shifts Treasury advice beyond the money
Wednesday, 25 May 2011, 4:52 pm | BusinessDesk
May 25 (BusinessDesk) – Outgoing Treasury Secretary John Whitehead has expanded the boundaries of advice to ministers beyond the mere dollars and cents of policy in an all-of-government approach. More >>
Jeff Todd named chairman of Sanford following death of Cole
Wednesday, 25 May 2011, 1:17 pm | BusinessDesk
May 25 (BusinessDesk) – Jeff Todd has been tapped as chairman of fishing company Sanford Ltd., having held the position in a temporary capacity since the death of Bruce Cole earlier this month. More >>
F&P Healthcare FY profit drops 27%; high kiwi erodes margins
Wednesday, 25 May 2011, 10:27 am | BusinessDesk
F&P Healthcare FY profit drops 27% as high kiwi erodes margin on record sales More >>
Wool Services board holds back on Cavalier bid
Wednesday, 25 May 2011, 10:10 am | BusinessDesk
May 25 (BusinessDesk) – The board of Wool Services International Ltd. says it won’t assess yesterday’s Cavalier Wool Holdings’ $40 million takeover bid, saying its rival should wait until the Commerce Commission decides whether New Zealand can tolerate ... More >>
Stocks to watch: AIR, AWF, FPH, PEB, RAK, TEL, WSI
Wednesday, 25 May 2011, 9:48 am | BusinessDesk
May 25 (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 gains on Fonterra forecast, inflation outlook
Wednesday, 25 May 2011, 8:35 am | BusinessDesk
May 25 (BusinessDesk) - The New Zealand dollar rose against the greenback, with the currency riding the momentum from yesterday Fonterra Cooperative Group's increased payout forecast and signs of resurgent inflation in a Reserve Bank survey. More >>
While you were sleeping: US stocks mixed, euro halts slide
Wednesday, 25 May 2011, 7:40 am | BusinessDesk
May 25 (BusinessDesk) - Stocks in the U.S. were mixed while European equities gained after stronger-than-expected German business confidence and gains in commodity prices helped make up for ongoing concern Greece may default on its debt. More >>
MARKET CLOSE: NZ stocks rise; Telecom leads gainers
Tuesday, 24 May 2011, 6:06 pm | BusinessDesk
May 24 (BusinessDesk) - New Zealand stocks rose, with a surge in Telecom Corp. after the company won the lion's share of the government's ultrafast broadband project. That helped the local bourse to side step mixed regional markets. Goodman Fielder ... More >>
Go-it-alone ETS on dairy would hurt NZ, Fonterra chair says
Tuesday, 24 May 2011, 5:58 pm | BusinessDesk
Go-it-alone ETS on dairy would hurt NZ, Fonterra's van der Heyden says More >>
