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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 1557]
Education deadline looms for 700 financial advisers
Tuesday, 24 May 2011, 5:16 pm | BusinessDesk
May 24 (BusinessDesk) – As many as 700 financial advisers risk being unable to do their jobs after July 1 if they don’t gain new, legally required qualifications to prove they’re competent. More >>
SFO launches Chch hotel development probe
Tuesday, 24 May 2011, 4:39 pm | BusinessDesk
May 24 (BusinessDesk) – The Serious Fraud Office has launched investigations into two Christchurch companies connected with bankrupt property developer David Henderson, on suspicion of misrepresentations used to gain loans from failed finance companies ... More >>
Chorus to be partially government-owned indefinitely
Tuesday, 24 May 2011, 3:53 pm | BusinessDesk
May 24 (BusinessDesk) – Taxpayers will be non-voting part-owners of the new ultra-fast broadband network indefinitely, including a chunk of Telecom Corp.’s infrastructure arm, Chorus. More >>
NZ inflation expectations grow, interest rates seen higher
Tuesday, 24 May 2011, 3:41 pm | BusinessDesk
May 24 (BusinessDesk) – New Zealand business managers expect inflation will accelerate over the next two years and interest rates will rise over the coming 12 months, according to the Reserve Bank’s survey of expectations. More >>
NZ firms take longer to repay bills in March quarter: D&B
Tuesday, 24 May 2011, 12:16 pm | BusinessDesk
May 24 (BusinessDesk) – New Zealand businesses took an extra two days to pay already delinquent debts in the March quarter as they struggle in a tepid economic recovery dealing with the impact of February’s Christchurch quake. More >>
Fonterra lifts forecast 2011; 2012 outlook dims
Tuesday, 24 May 2011, 12:01 pm | BusinessDesk
Fonterra lifts forecast 2011 payout to $8-$8.10, sees 2012 range of $7.15-$7.25 More >>
Zespri reports 72% profit drop, sees lower returns in 2012
Tuesday, 24 May 2011, 11:31 am | BusinessDesk
May 24 (BusinessDesk) – Monopoly kiwifruit export marketer Zespri Group is warning growers that returns in 2012 are likely to be weaker than this year’s, though demand for the traditional green variety are holding up better than for the higher-value ... More >>
Air NZ passenger numbers climb 5% in April
Tuesday, 24 May 2011, 11:18 am | BusinessDesk
May 24 (BusinessDesk) - Air New Zealand Ltd. carried 5% more passengers in April than in the same month last year, with a jump in short-haul volumes helping to offset a dip in international numbers. More >>
AWF lifts annual profit 60% as contracting thrives
Tuesday, 24 May 2011, 11:08 am | BusinessDesk
May 24 (BusinessDesk) - Contract labour company AWF Group lifted bottom-line net profit 60% to a record as the market rediscovered the cost-effectiveness of using its services. More >>
Pacific Edge sells Cxbladder license for Spain, Portugal
Tuesday, 24 May 2011, 11:08 am | BusinessDesk
May 24 (BusinessDesk) – Pacific Edge Ltd., the Auckland-based develop of diagnostic tests for cancer, has sold the Spanish and Portugese license for its bladder cancer test to Spain’s Oryzon S.A. More >>
Telecom split hangs on law change, investor vote: Reynolds
Tuesday, 24 May 2011, 10:47 am | BusinessDesk
May 23 (BusinessDesk) – Telecom Corp.’s split into a network company and service wholesaler and retailer now only hangs on a law change next month and a shareholder vote later this year, chief executive Paul Reynolds told staff. More >>
Stocks to watch: ALF, DNZ, KMD, MCK, SKL, TEL, THL
Tuesday, 24 May 2011, 9:40 am | BusinessDesk
May 24 (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 >>
Telecom on track for split with UFB contracts win
Tuesday, 24 May 2011, 9:39 am | BusinessDesk
May 24 (BusinessDesk) – Telecom Corp. has finally emerged the big winner in the government’s $1.35 billion urban ultra-fast broadband initiative, winning the key Auckland and Wellington markets, while Christchurch has gone to local provider Enable ... More >>
NZ dollar gains as late buying spree props up the kiwi
Tuesday, 24 May 2011, 8:33 am | BusinessDesk
May 24 (BusinessDesk) - The New Zealand dollar rose against the greenback, as a flurry of late buying in the kiwi helped the currency side step the flood of global risk aversion seen as Europe's sovereign debt woes worsened. More >>
While you were sleeping: Greek fears amplify; stocks slide
Tuesday, 24 May 2011, 7:35 am | BusinessDesk
May 24 (BusinessDesk) - Stocks fell in Europe and the U.S. and the euro weakened amid concern Europe's debt-crisis is worsening and America's economic recovery is running out of puff. More >>
MARKET CLOSE: NZ shares fall, led by Kathmandu; PGC gains
Monday, 23 May 2011, 6:08 pm | BusinessDesk
May 23 (BusinessDesk) - New Zealand stocks fell for the first time in six sessions, as the broad reversal in risk appetite seen on Wall Street amid resurgent European debt fears spread to regional markets. Kathmandu Holdings led decliners, while Pyne ... More >>
NZ not a ‘magical little world’, Key says of Goff ETS plan
Monday, 23 May 2011, 6:00 pm | BusinessDesk
May 23 (BusinessDesk) – New Zealand’s agricultural sector won’t face the cost of the emissions trading scheme in 2015 unless other countries come to the party, Prime Minister John Key says. More >>
Court dismisses Serepisos bid to quash bankruptcy notices
Monday, 23 May 2011, 3:34 pm | BusinessDesk
May 23 (BusinessDesk) – Property developer and Wellington Phoenix owner Terry Serepisos faces a bid to bankrupt him and two of his companies after the High Court dismissed an application to throw out the proceedings. More >>
Genesis sets 8.5% minimum rate on bonds
Monday, 23 May 2011, 3:09 pm | BusinessDesk
May 23 (BusinessDesk) - Genesis Energy’s unsecured, subordinated capital bonds will trade at a minimum interest rate of 8.5%, the company confirms. More >>
NZ Dollar Outlook: Kiwi may decline as euro woes linger
Monday, 23 May 2011, 2:41 pm | BusinessDesk
May 23 (BusinessDesk) - The New Zealand dollar may fall this week, with relatively little data on the local front to help insulate the currency from rising levels of risk aversion in the wake of Fitch Ratings' decision to downgrade Greece's long term ... More >>
