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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 1562]
Tower taps Southern Cross's Feyter as new chief actuary
Monday, 16 May 2011, 6:01 pm | BusinessDesk
May 16 ( BusinessDesk) - Tower Ltd. has appointed John Feyter as group chief actuary, who will be the third person in about a year to hold the position. More >>
MARKET CLOSE: NZ stocks rise; Telecom, Fletcher gain
Monday, 16 May 2011, 5:45 pm | BusinessDesk
MARKET CLOSE: New Zealand stocks rise; Telecom, Fletcher tip bourse into the black, ANZ falls More >>
Budget 2011 ‘screams responsibility’, Key says
Monday, 16 May 2011, 5:32 pm | BusinessDesk
May 16 (BusinessDesk) – This Thursday’s Budget “screams responsibility” after one of the toughest periods in New Zealand’s economic history, says Prime Minister John Key. More >>
Ballylinch says it won’t lift Tourism Holdings bid
Monday, 16 May 2011, 5:22 pm | BusinessDesk
May 16 (BusinessDesk) – Ballylinch LP, an investment vehicle that lists two Havelock North businessmen as owners, won’t lift its bid to buy a controlling stake in Tourism Holdings. More >>
Select committee backs regulatory holiday for UFB
Monday, 16 May 2011, 4:57 pm | BusinessDesk
May 16 (BusinessDesk) – Winning bidders in the government’s $1.35 billion roll-out of a broadband network will get their decade-long regulatory holiday if legislation is passed with the recommended select committee amendments. More >>
Wakefield Health's profits, dividends slump
Monday, 16 May 2011, 4:39 pm | BusinessDesk
May 16 (BusinessDesk) - Wakefield Health Ltd.'s annual profit slumped almost 17% to $5.1 million, reflecting weak market conditions and the cost of its failed attempt to buy 60% of the Grace Hospital in Tauranga. More >>
NZ Dollar Outlook: Kiwi may fall on Greek default fears
Monday, 16 May 2011, 2:35 pm | BusinessDesk
May 16 (BusinessDesk) - The New Zealand dollar may fall this week, with investors continuing to trim their risk exposure amid fears that Greece may default on its debt repayments unless the European Central Bank and International Monetary Fund ... More >>
NZ service sector bounces back in April as tourism revives
Monday, 16 May 2011, 11:14 am | BusinessDesk
May 16 (BusinessDesk) – New Zealand’s service sector bounced back last month after the February earthquake in Christchurch sapped confidence in March. More >>
Stocks to watch: AIR, AMP, GLL, NPT, POT, SKC, TPW
Monday, 16 May 2011, 9:43 am | BusinessDesk
May 16 (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 >>
WEEKLY SPORTS DIGEST: Djokovic takes 7th title of year
Monday, 16 May 2011, 9:34 am | BusinessDesk
16/05/11 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 >>
NZ dollar falls as European debt fears sap risk appetite
Monday, 16 May 2011, 8:38 am | BusinessDesk
May 16 (BusinessDesk) - The New Zealand dollar fell, following global equity markets lower as rising euro debt fears dimmed investors' appetites for growth linked currencies such as the kiwi and Australian dollars. More >>
World Week Ahead: Overcast and cloudy
Monday, 16 May 2011, 7:22 am | BusinessDesk
Equities for instance, in terms of the Standard & Poor’s 500 Index, appear stuck in a holding pattern. While the index has advanced 17.79% for the last 12 months, so far this year the gains have been a more modest 5.18%. More >>
S&P revised SkyCity outlook to stable
Friday, 13 May 2011, 6:00 pm | BusinessDesk
May 13 (BusinessDesk) – International ratings agency Standard & Poor’s has revised casino operator SkyCity Entertainment Group ratings outlook to stable and reaffirmed its BBB-minus rating. More >>
MARKET CLOSE: New Zealand stocks fall; Telecom paces decline
Friday, 13 May 2011, 6:00 pm | BusinessDesk
May 12 (BusinessDesk) - New Zealand stocks fell for a second session with Telecom Corp. pacing decliners as some investors took advantage of a one-year high to sell the stock. Goodman Fielder Ltd. rose. More >>
Quake helps cut NPT's portfolio by $20.6M
Friday, 13 May 2011, 4:38 pm | BusinessDesk
May 13 (BusinessDesk) - The value of the former National Property Trust's property portfolio fell $20.6 million, or 10.9%, during the six months ended March 31, mainly because of the damage inflicted on its Eastgate Shopping Centre by Christchurch's ... More >>
Air NZ backs down over Auckland Airport stake in Queenstown
Friday, 13 May 2011, 4:09 pm | BusinessDesk
May 13 (BusinessDesk) – Air New Zealand Ltd., the national carrier, has backed out of legal action over Auckland International Airport Ltd.’s stake in Queenstown Airport. More >>
TrustPower meets guidance as full-year profit slides 6%
Friday, 13 May 2011, 2:59 pm | BusinessDesk
May 13 (BusinessDesk) – TrustPower Ltd., the electricity company controlled by Infratil Ltd., posted a 6% decline in full-year profit on the back of little changed revenue, meeting guidance in what it called a “very competitive” retail environment. More >>
Markhams Auckland audit boss banned for 5 yrs over Boston
Friday, 13 May 2011, 2:15 pm | BusinessDesk
May 13 (BusinessDesk) – Craig Hemphill, the head of Markhams Auckland Ltd.’s audit division, has been banned from auditing issuers for five years, fined more than $19,000 and censured by the accounting industry body. More >>
Maersk schedule changes set to benefit NZ exporters
Friday, 13 May 2011, 2:01 pm | BusinessDesk
May 12 (BusinessDesk) - Exporters look set to benefit more direct and frequent access to Asia's emerging economies as Maersk Line New Zealand reorganises its shipping schedule and introduces more vessels to the local route. More >>
Olam threatens to quit Open Country, sees recovery in NZS
Friday, 13 May 2011, 1:15 pm | BusinessDesk
May 13 (BusinessDesk) – Olam International Ltd., the food commodities group aiming to expand its global reach, says high milk prices in New Zealand have wiped out profits at its 25%-owned Open Country Dairy Ltd. and it may consider exiting the investment. More >>
