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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 1561]
Port of Tauranga announces expanded container services
Wednesday, 18 May 2011, 11:21 am | BusinessDesk
May 18 (BusinessDesk) - Port of Tauranga Ltd., the country's biggest export hub, says it expects to service an extra 130 vessels per year after three international shipping lines announced they were expanding their container services to include ... More >>
Rakon shares fall as return to profit misses expectations
Wednesday, 18 May 2011, 10:55 am | BusinessDesk
May 18 (BusinessDesk) – Rakon Ltd., which makes components for navigation systems and smart phones, returned to profit in its latest year as sales surged. The shares dropped as profit missed expectations and the company gave little guidance. More >>
NZ producer input prices climb at fastest pace since 2008
Wednesday, 18 May 2011, 10:55 am | BusinessDesk
May 18 (BusinessDesk) – New Zealand manufacturers faced the fastest growth in input prices for 2 1/2 years in the first quarter on the back of rising dairy and oil costs. More >>
Kiwi Income distributable profit rises 12.6%
Wednesday, 18 May 2011, 10:12 am | BusinessDesk
May 18 (BusinessDesk) – Kiwi Income Property Trust, the owner of Auckland’s Sylvia Park shopping mall, reported a 12.6% increase in full-year distributable profit, reflecting growth in rental income. More >>
Stocks to watch: MVN, PGC, RAK, SKC, SKT, TEL
Wednesday, 18 May 2011, 9:50 am | BusinessDesk
Stocks to watch: MVN, PGC, RAK, SKC, SKT, TEL May 18 (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 >>
Joyce gives up on UFB regulatory holiday
Wednesday, 18 May 2011, 9:36 am | BusinessDesk
May 18 (BusinessDesk) – Communications Minister Steven Joyce has abandoned plans for a decade-long regulatory holiday for fibre companies in the government’s ultra-fast broadband rollout while keeping intact a restriction on unbundling. More >>
NZ dollar rises as Greek debt deal looms
Wednesday, 18 May 2011, 8:22 am | BusinessDesk
May 18 (BusinessDesk) - The New Zealand dollar rose against the greenback amid speculation European officials are closer to reaching a deal on restructuring Greece's mounting government debt. More >>
Milk powder prices fall 1.1% in Fonterra sale
Wednesday, 18 May 2011, 8:05 am | BusinessDesk
May 18 (BusinessDesk) – The average price of milk powder fell in Fonterra Cooperative Group’s latest online auction, the first sale with an expanded range of products that includes cheddar cheese. More >>
Sky TV fears of content regulation from UFB study ignored
Tuesday, 17 May 2011, 6:33 pm | BusinessDesk
May 17 (BusinessDesk) – The Commerce Commission will include content arrangements in its investigation of potential barriers to the uptake of ultra-fast broadband, ignoring stern objections from virtual pay-TV monopoly Sky Network Television Ltd. More >>
Elder bridles at US academic’s 'immoral' coal claim
Tuesday, 17 May 2011, 6:14 pm | BusinessDesk
May 17 (BusinessDesk) – A visiting American academic’s description of Solid Energy Ltd.’s plans to make fertiliser and diesel from vast lignite coal fields in Southland provided a rare spark of anger from the state-owned coal miner’s chief executive, ... More >>
MARKET CLOSE: NZ stocks rise a second day; Infratil gains
Tuesday, 17 May 2011, 5:45 pm | BusinessDesk
MARKET CLOSE: NZ stocks rise for a second day; Infratil paces gainers, Pyne Gould falls More >>
Tourist spending drops 6.1% as fewer Australians visit
Tuesday, 17 May 2011, 1:29 pm | BusinessDesk
May 17 (BusinessDesk) – Tourists are spending less in New Zealand as fewer Australians jump across the Tasman for a holiday. More >>
Fonterra set to report record milk production this year
Tuesday, 17 May 2011, 11:38 am | BusinessDesk
May 17 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, says it is on track to report record production for the 2010/2011 season, after a mild autumn resulted in record pasture growth. More >>
Privacy eroded for fraud prevention in credit check proposal
Tuesday, 17 May 2011, 11:25 am | BusinessDesk
May 17 (BusinessDesk) – Privacy Commissioner Marie Shroff is proposing a new credit check regime that will erode personal privacy in the interests of stemming credit and lending frauds. More >>
Z produces $55mln maiden earnings for Infratil
Tuesday, 17 May 2011, 10:49 am | BusinessDesk
May 17 (BusinessDesk) – The renamed former Shell fuel distribution and marketing business, Z Energy Ltd., improved earnings on a current cost basis by $20 million in its first year under 50-50 ownership by Infratil Ltd. and the New Zealand Superannuation ... More >>
Infratil FY profit jumps 67% on Shell, Australian assets
Tuesday, 17 May 2011, 10:30 am | BusinessDesk
May 17 (BusinessDesk) – Infratil Ltd., the infrastructure investment company, lifted profit by more than two-thirds as its Shell and Australian assets made big contributions to the firm’s bottom-line. The shares climbed 1.6%. More >>
Stocks to watch: AIR, GPG, IFT, TEL, THL, TWR
Tuesday, 17 May 2011, 9:33 am | BusinessDesk
May 17 (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 >>
Meridian pays $521 mln special dividend
Tuesday, 17 May 2011, 9:17 am | BusinessDesk
May 17 (BusinessDesk) – State-owned electricity company Meridian Energy Ltd. is to pay a special dividend of $520.9 million to the Crown following the sale of its Tekapo A and B hydro stations to its SOE competitor, Genesis Energy Ltd. More >>
GPG dangles big pay-day for Coats execs based on sale price
Tuesday, 17 May 2011, 9:09 am | BusinessDesk
May 17 (BusinessDesk) – Guinness Peat Group, the investment company looking to return some $158 million to shareholders this year, is dangling a big pay-day for Coats Plc senior executives if the thread-maker sells for a top price. More >>
NZ dollar falls amid Euro debt talks, weaker equities
Tuesday, 17 May 2011, 8:39 am | BusinessDesk
May 17 (BusinessDesk) - The New Zealand dollar fell against the greenback, with currency traders closely following weaker equity markets and the unfolding European debt negotiations for any sudden swings in sentiment. More >>
