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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 1558]
Air NZ adds capacity on China and Japan routes
Monday, 23 May 2011, 12:46 pm | BusinessDesk
May 23 (BusinessDesk) - Air New Zealand Ltd., the national carrier, is increasing its international capacity to China and Japan in its Northern winter schedule. More >>
GE Capital buys half of SCF's Face Finance loan book
Monday, 23 May 2011, 12:40 pm | BusinessDesk
May 23 (BusinessDesk) - GE Capital’s local equipment finance unit has bought more than $100 million of Face Finance Ltd.’s loan book assets from the South Canterbury Finance Ltd. receivership. More >>
Skellerup slapped with $20k NZX fine over board make-up
Monday, 23 May 2011, 12:22 pm | BusinessDesk
May 23 (BusinessDesk) – Skellerup Holdings, the best-performing company on the NZX 50 index last year, has been slapped with a $20,000 fine for not finding a replacement independent director fast enough. More >>
Tourism Holdings upgrades 2011 result, expects RWC boost
Monday, 23 May 2011, 11:59 am | BusinessDesk
May 23 (BusinessDesk) - Tourism Holdings has upgraded its forecast for the current year to an operating profit from break-even and expects a big jump the following year, partly due to the impact of the Rugby World Cup. More >>
Hanover withdraws summary judgement over Allied Farmers fee
Monday, 23 May 2011, 11:26 am | BusinessDesk
May 23 (BusinessDesk) – Hanover Finance has withdrawn its application for summary judgement against Allied Farmers Ltd. over $5 million owed for the failed-debt-for-equity swap at the end of 2009. More >>
DNZ beats prospectus earnings guidance, flags 8 cps dividend
Monday, 23 May 2011, 11:07 am | BusinessDesk
May 23 (BusinessDesk) – DNZ Property Fund Ltd., which has proposed a merger with rival Argosy Property Trust, beat its prospectus earnings guidance and has flagged a dividend payment of at least 8 cents a share next year. More >>
Olam's Farming Systems offer has merit, valuer says
Monday, 23 May 2011, 10:16 am | BusinessDesk
May 23 (BusinessDesk) –Olam International Ltd.’s offer to mop up shares of NZ Farming Systems Uruguay Ltd. it doesn’t already own has merit, though shifts in dairy prices and the exchange rate will change the playing field. More >>
Stocks to watch: CVT, GPG, KFL, NZS, PGC, TEL
Monday, 23 May 2011, 9:37 am | BusinessDesk
May 23 (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 >>
Southern Cross Healthcare embarks on nationwide GP network
Monday, 23 May 2011, 9:14 am | BusinessDesk
May 23 (BusinessDesk) – Southern Cross Healthcare Group, the private healthcare provider and insurer, has taken its first step towards building a national general practice network, with a minority stake in a north Auckland clinic. More >>
NZ dollar gains; rising commodities help counter euro fears
Monday, 23 May 2011, 8:31 am | BusinessDesk
May 23 (BusinessDesk) - The New Zealand dollar rose as commodity prices continued to reverse their recent slide, helping underpin the currency amid resurgent European debt fears. More >>
WEEKLY SPORTS DIGEST: The Sevens crown, Vettel’s win
Monday, 23 May 2011, 8:28 am | BusinessDesk
23/05/11 Executive sport summary – An overview of the major sporting events – Results, key moments and talking points – Everything you need to know to foot it at the water cooler this week. More >>
World Week Ahead: Euro socialists slapped down
Monday, 23 May 2011, 7:29 am | BusinessDesk
May 23 (BusinessDesk) - The latest opinion poll in Greece has Prime Minister George Papandreou's ruling Socialists fading in popularity. Spaniards are expected to register a protest vote against their socialist government in regional elections. More >>
UK patent challenge costs sink Comvita profit
Sunday, 22 May 2011, 5:23 pm | BusinessDesk
May 22 (BusinessDesk) – One-off costs associated with defending patents in the UK was a main factor in a ten-fold fall in net profit after tax for the year to March 31 for manuka honey wound-care manufacturer, Comvita Ltd. More >>
Come on Phil, is that it?
Sunday, 22 May 2011, 3:28 pm | BusinessDesk
Comment by Pattrick Smellie May 22 (BusinessDesk) – So that’s Labour’s big idea? Restoring research and development tax cuts? More >>
MARKET CLOSE: NZ stocks rise to three-year high
Friday, 20 May 2011, 5:53 pm | BusinessDesk
May 20 (BusinessDesk) - New Zealand stocks rose to a fresh three-year high, with NZX Ltd. leading gainers amid investor anticipation of increased equity flows after the government signalled it was looking to sell stakes in state owned enterprises ... More >>
Serepisos bankruptcy hearing on Monday
Friday, 20 May 2011, 5:45 pm | BusinessDesk
May 20 (BusinessDesk) – Wellington Phoenix owner and property developer Terry Serepisos faces the last of his immediate legal challenges on Monday with a bankruptcy proceeding set down. More >>
Kingfish profit growth slows with local share values
Friday, 20 May 2011, 5:21 pm | BusinessDesk
May 20 (BusinessDek) – Earnings for Kingfish Ltd., the listed investment company focusing on local equities, slowed dramatically in the year to March 31, but total value continued to accrue. More >>
High Court okays "Heartland" share distribution
Friday, 20 May 2011, 5:10 pm | BusinessDesk
May 20 (BusinessDesk) - Pyne Gould Corp. announced today the High Court has approved the distribution of its Building Society Holdings stake to shareholders, clearing the last regulatory step in the merger of its Marac Finance unit with the Southern ... More >>
New Zealand not a PIIG, S&P’s Budget man Curry says
Friday, 20 May 2011, 4:57 pm | BusinessDesk
May 20 (BusinessDesk) - New Zealand is a long way from being grouped with Europe's heavily indebted nations known as the PIIGs despite worrying levels of external debt, according to Kyran Curry, the Standard & Poor's analyst who kept the sovereign ... More >>
Supreme Court tells Waitangi Tribunal to do its job
Friday, 20 May 2011, 4:16 pm | BusinessDesk
May 20 (BusinessDesk) – A landmark Supreme Court decision has ordered the Waitangi Tribunal to make a binding recommendation on the return of some 3,500 hectares of land sought by a Gisborne Maori tribal organisation. More >>
