BusinessDesk

Independent, Trustworthy New Zealand Business News

The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.

Contact BusinessDesk

Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 1563]

Bollard won’t hike rates until recovery firmly underway

Friday, 13 May 2011, 12:49 pm | BusinessDesk

May 13 (BusinessDesk) – Reserve Bank Governor Alan Bollard says he will keep interest rates at a record-low level until risks to the country’s economic recovery have abated. More >>

Joyce gives nod to wholesale broadband rule change

Friday, 13 May 2011, 10:14 am | BusinessDesk

May 13 (BusinessDesk) – Regulations covering an area of broadband services where competition is healthy will be removed, following recommendations from the competition watchdog, the Commerce Commission. More >>

Glass Earth exploration finds more high grade gold

Friday, 13 May 2011, 10:02 am | BusinessDesk

May 13 (BusinessDesk) – Glass Earth Ltd., the gold miner, says its latest exploratory drilling in the WKP-West area, adjacent to Newmont Ming Corp.’s Martha Mine, has found further evidence of high grade gold and silver deposits. More >>

Stocks to watch: AIR, APN, DIL, NPX, TEL, SKC, WHS

Friday, 13 May 2011, 9:38 am | BusinessDesk

May 13 (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 >>

Warehouse Stationery underpins third-quarter sales growth

Friday, 13 May 2011, 9:36 am | BusinessDesk

May 13 (BusinessDesk) – Warehouse Group, the country’s biggest listed retailer, boosted third-quarter sales as its stationery business benefited from the start of the school yea, underpinning revenue growth. More >>

Zespri quarantines kiwifruit amid typhoid scare

Friday, 13 May 2011, 8:44 am | BusinessDesk

May 13 (BusinessDesk) – Zespri International Ltd., which holds a monopoly over kiwifruit exports, has pulled 100,000 kiwifruit trays bound for international markets amid fears of a typhoid infection. More >>

NZ dollar rises as slide in commodities ends, US stocks rise

Friday, 13 May 2011, 8:32 am | BusinessDesk

May 13 (BusinessDesk) - The New Zealand dollar rose against the greenback after the slide in commodity prices ran out of steam and U.S. stocks rose, stoking demand for growth-linked currencies such as the kiwi. More >>

Whimp aimed to catch small investors 'off guard,' judge says

Thursday, 12 May 2011, 6:29 pm | BusinessDesk

May 12 (BusinessDesk) - Bernard Whimp probably hoped to catch small investors "off-guard" when he pitched to buy their shares at above market rates but with small print saying he'd actually take 10 years to pay for them, a High Court judge says in a reserved ... More >>

MARKET CLOSE: NZ stocks fall; Nuplex paces decliners

Thursday, 12 May 2011, 5:54 pm | BusinessDesk

May 12 (BusinessDesk) - New Zealand stocks snapped six days of gains, with Nuplex Industries Ltd. pacing decliners after it issued a profit warning. Cavalier Corp. rose. More >>

Fiji's outlook negative on "rule of law', weak economy

Thursday, 12 May 2011, 5:40 pm | BusinessDesk

May 12 (BusinessDesk) - The outlook on Fiji's sovereign credit rating remains 'negative', says Moody's Investors Service, which cites the Pacific Island nation's poor economic growth prospects and weak rule of law. More >>

SkyCity names James Burrell as CFO, Stuart Wing as COO

Thursday, 12 May 2011, 5:20 pm | BusinessDesk

May 12 (BusinessDesk) – SkyCity Entertainment Group, the casino and hotel operator, has named two new lieutenants for chief executive Nigel Morrison. More >>

Travel bible likes Air NZ’s 'cuddle class'

Thursday, 12 May 2011, 4:32 pm | BusinessDesk

May 12 (BusinessDesk) – Air New Zealand’s “cuddle class” lie-down economy class seats have bagged a top award from leading global travel magazine and information publishers, Conde Nast, beating out competing new First Class cabin fit-outs in the ... More >>

AMI was one of three teetering insurers, papers show

Thursday, 12 May 2011, 3:22 pm | BusinessDesk

by Jonathan Underhill May 12 (BusinessDesk) – Officials from the Treasury and Reserve Bank of New Zealand saw a ‘high risk of failure’ for AMI Insurance, Western Pacific and at least one other insurer in the wake of the Feb. 22 earthquake, papers released ... More >>

Feltex Five” settle with liquidator

Thursday, 12 May 2011, 3:08 pm | BusinessDesk

Feltex Five” settle with liquidator May 12 (BusinessDesk) - Directors of the failed Feltex Carpets have made a “modest and pragmatic settlement reached on a costs saving basis” with the firm’s liquidators, McDonald Vague. More >>

Cantabrian Roger Sutton to head Christchurch rebuild agency

Thursday, 12 May 2011, 1:21 pm | BusinessDesk

May 12 (BusinessDesk) – One of the heroes of the Christchurch earthquake response, Roger Sutton from the local electricity network company Orion Networks Ltd., is to be the permanent chief executive of the Canterbury Earthquake Recovery Authority. More >>