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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 1560]
Budget 2011: Reasons to be cheerful?
Thursday, 19 May 2011, 2:04 pm | BusinessDesk
May 19 (BusinessDesk) – Every Budget is a guess at the future. Accordingly, every Budget requires the reader to ask: what do I need to believe? More >>
Budget 2011: NZ back in surplus by 2015
Thursday, 19 May 2011, 2:04 pm | BusinessDesk
Budget 2011: NZ back in surplus by 2015 as economy rebounds, government puts brake on expenses More >>
Port of Tauranga downplays merger speculation
Thursday, 19 May 2011, 1:41 pm | BusinessDesk
May 19 (BusinessDesk) - Port of Tauranga Ltd. chief executive Mark Cairns says merger talks between itself and council-controlled Ports of Auckland is not on the cards at this stage, quashing recent media speculation. The announcement filed with the ... More >>
Stocks to watch: BSH, DNZ, GMT, KIP, NEW, NZS, RYM
Thursday, 19 May 2011, 9:43 am | BusinessDesk
May 19 (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 >>
Ryman boosts profit 28% on fatter fees, lift in fair value
Thursday, 19 May 2011, 9:11 am | BusinessDesk
May 19 (BusinessDesk) – Ryman Healthcare Ltd., the retirement village operator, boosted net profit 28% as it took in bigger care and management fees and recognised increasing value in its investment property portfolio. More >>
NZ dollar holds ground ahead of budget
Thursday, 19 May 2011, 8:37 am | BusinessDesk
May 19 (BusinessDesk) - The New Zealand dollar was little changed against most major currencies ahead the release of the national budget today, which will help determine whether Standard & Poor’s maintains or cuts the nation’s AA+ credit rating. More >>
Stocks, commodities rebound
Thursday, 19 May 2011, 7:48 am | BusinessDesk
(BusinessDesk) May 19 - Equities on both sides of the Atlantic rebounded along with commodity prices, as the Federal Reserve suggested borrowing costs won’t rise any time soon. More >>
Fonterra's AA- debt rating affirmed by Fitch
Wednesday, 18 May 2011, 6:24 pm | BusinessDesk
Fonterra's AA- debt rating affirmed by Fitch with stable outlook on credit strength, synergies More >>
Moody’s downgrades major Australian banks
Wednesday, 18 May 2011, 6:16 pm | BusinessDesk
May 18 (BusinessDesk) – Moody’s Investors Service has downgraded the four major Australian banks, saying they rely too heavily on foreign funding. More >>
MARKET CLOSE: NZ stocks rise; Cavalier leads gainers
Wednesday, 18 May 2011, 6:08 pm | BusinessDesk
May 18 (BusinessDesk) - New Zealand stocks were mixed, with the benchmark index edging higher. Carpet maker Cavalier Corp. led gainers while Rakon Ltd. dropped after its earnings missed estimates. More >>
Farming Systems forecasts smaller EBIT loss
Wednesday, 18 May 2011, 5:09 pm | BusinessDesk
May 18 (BusinessDesk) - NZ Farming Systems Uruguay Ltd., the South America dairy operator, says its full-year operating loss will be 25% lower than originally forecast, and it has arranged a US$30 million bank loan to fund working capital. More >>
PGC shareholders clear way to forming Heartland bank
Wednesday, 18 May 2011, 5:00 pm | BusinessDesk
May 18 (BusinessDesk) – Directors of Building Society Holdings Ltd., the vehicle for the proposed Heartland bank, expect the share price to start performing now that shareholders in Pyne Gould Corp. have approved for BSH shares to be distributed amongst ... More >>
NZ consumer confidence still in the doldrums
Wednesday, 18 May 2011, 4:41 pm | BusinessDesk
May 18 (BusinessDesk) – New Zealand consumer confidence stayed in the doldrums this month with people ignoring gains in house prices and keeping their wallets firmly shut. More >>
New Image shares not the right fit for Fisher Funds
Wednesday, 18 May 2011, 3:51 pm | BusinessDesk
May 18 (BusinessDesk) – Fisher Funds Management Ltd. turned down a 10% stake in New Image Ltd. in its takeover of the rival KiwiSaver scheme run by Huljich Wealth Management (New Zealand) Ltd. More >>
DNZ touts savings of up to $5M a year from Argosy merger
Wednesday, 18 May 2011, 2:57 pm | BusinessDesk
May 18 (BusinessDesk) – DNZ Property Fund Ltd., the property investor which listed on the NZX last year, is touting annual cost savings of up to $5 million in a bid to convince Argosy Property Trust unit-holders on the merits of a merger. More >>
FMA signs off on Fisher Funds’ KiwiSaver expansion
Wednesday, 18 May 2011, 1:24 pm | BusinessDesk
May 18 (BusinessDesk) – The Financial Markets Authority has signed off on Fisher Funds KiwiSaver Scheme taking members from the now-defunct Huljich KiwiSaver. More >>
Goodman Property lifts earnings but investor payouts fall
Wednesday, 18 May 2011, 12:19 pm | BusinessDesk
May 18 (BusinessDesk) - Goodman Property Trust lifted annual distributable earnings but its annual payout to investors fell and is likely to decline` further because of the costs of its development program. More >>
UPDATED: Rakon flags earnings growth as shares fall
Wednesday, 18 May 2011, 12:09 pm | BusinessDesk
May 18 (BusinessDesk) – Rakon Ltd., which makes components for navigation systems and smart phones, expects earnings growth in 2012, but is shy about getting into the details. More >>
Budget 2011: Back in the black by 2014?
Wednesday, 18 May 2011, 11:37 am | BusinessDesk
May 18 (BusinessDesk) – New Zealand’s government accounts could be back in surplus by March 2014, a year earlier than forecast, says the ANZ Bank in its outlook for tomorrow’s unusually austere election year Budget. More >>
Wakefield back in talks with Norfolk over Grace
Wednesday, 18 May 2011, 11:30 am | BusinessDesk
May 18 (BusinessDesk) – Wakefield Health says it is again “in constructive discussions” with the Norfolk board over buying its 60% stake in the Grace Hospital in Tauranga. More >>
