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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 1565]
Blake Nixon to quit executive role at GPG
Wednesday, 11 May 2011, 8:43 am | BusinessDesk
May 11 (BusinessDesk) – Blake Nixon is to relinquish his executive role at Guinness Peat Group after 21 years, marking the departure of the last of founder Ron Brierley’s old guard from a hands-on position at the investment company, which is in wind-down ... More >>
NZ dollar gains as commodities, equities rise
Wednesday, 11 May 2011, 8:26 am | BusinessDesk
May 11 (BusinessDesk) - The New Zealand dollar rose against the greenback, although it remained within recent trading ranges, as commodity and equity markets regained some of the ground they lost after last week's correction. More >>
Hotchin can furnish Gold Coast home, other assets frozen
Tuesday, 10 May 2011, 6:29 pm | BusinessDesk
May 10 (BusinessDesk) – Hanover Finance co-founder Mark Hotchin can take his general household belongings to his new home in the Gold Coast, but everything else remains frozen, the High Court ruled. More >>
Multiple bidders for Pike River assets, Fisk says
Tuesday, 10 May 2011, 6:04 pm | BusinessDesk
May 10 (BusinessDesk) – Receivers for Pike River Coal Ltd.’s mine assets say they have received expressions of interest from “a number of parties”, as at last Thursday’s deadline. More >>
MARLET CLOSE: NZ stocks rise for 5th day; Wrightson gains
Tuesday, 10 May 2011, 5:50 pm | BusinessDesk
May 10 (BusinessDesk) - New Zealand stocks rose for a fifth session, with PGG Wrightson Ltd. pacing gainers after the rural services company announced it had acquired Australia's Southedge Seeds Pty. Goodman Fielder Ltd. fell. More >>
India, New Zealand target trebling in trade
Tuesday, 10 May 2011, 5:02 pm | BusinessDesk
May 10 (BusinessDesk) – Two-way trade between India and New Zealand, currently worth $1 billion a year, could reach $3 billion annually by 2014 with concerted effort from both countries and reduced trade barriers, the two trade ministers have agreed. More >>
Herbert Insurance’s books ‘questionable’, receiver says
Tuesday, 10 May 2011, 4:51 pm | BusinessDesk
May 10 (BusinessDesk) – Herbert Insurance Group, the boutique insurer under scrutiny from the Serious Fraud Office, has “questionable” books, according to its receivers. More >>
PGG Wrightson buys northern Aust tropical seeds business
Tuesday, 10 May 2011, 2:37 pm | BusinessDesk
May 10 (BusinessDesk) - PGG Wrightson, the rural services company controlled by Agria Corp., has bought Southedge Seeds Pty. of northern Australia. More >>
Nufarm's Rathbone sells 4.5m shares to Sumitomo
Tuesday, 10 May 2011, 2:23 pm | BusinessDesk
May 10 (BusinessDesk) – Nufarm Ltd. managing director Doug Rathbone has sold 4.5 million shares to major shareholder Sumitomo Chemical Company for A$5.28 per share, or A$23.76 million. More >>
When Australia catches a cold, so does NZ, IMF concludes
Tuesday, 10 May 2011, 1:36 pm | BusinessDesk
May 10 (BusinessDesk) - The course of the Australian economy has become much more significant for New Zealand’s economic cycles, while the influence of the U.S. has lessened and Asian growth trends are transmitted to this country through Australia. More >>
NZ property values stable in April, says QV
Tuesday, 10 May 2011, 1:13 pm | BusinessDesk
May 10 (BusinessDesk) - Residential property values in New Zealand held their ground in April, after declining for much of last year, according to government valuer Quotable Value Ltd. More >>
NZ electronic card spending climbs further in April
Tuesday, 10 May 2011, 11:40 am | BusinessDesk
May 10 (BusinessDesk) - New Zealand's electronic card transactions continued to rise in April, suggesting the consumers may be feeling more confident about the economy and are starting to loosen their the grip on their wallets. More >>
Govt cash deficit hits $12.4 bln in March on quake costs
Tuesday, 10 May 2011, 11:00 am | BusinessDesk
Govt cash deficit hits $12.4 bln in March as quake costs rise; kiwi falls More >>
Budget 2011: English says Budget to show large deficit
Tuesday, 10 May 2011, 10:38 am | BusinessDesk
May 10 (BusinessDesk) – Finance Minister Bill English says the Budget next week will confirm a ‘very large deficit’ including the immediate costs of rebuilding Christchurch after its two earthquakes. More >>
Briscoe Group 1st-qtr sales slip 0.6%, margins improve
Tuesday, 10 May 2011, 10:15 am | BusinessDesk
May 10 (BusinessDesk) - Briscoe Group Ltd. reported a 0.6% decline in first-quarter sales while saying its gross margins have improved, helping lift earnings in the face of a competitive retail market. More >>
NZF Money rating cut deeper into junk as cash drought looms
Tuesday, 10 May 2011, 10:01 am | BusinessDesk
May 10 (BusinessDesk) – NZF Money Ltd., the deposit taking arm of listed financial services company NZF Group, has had its credit rating cut deeper into junk with a cash crisis looming later this year. More >>
Stocks to watch: ALF, BGR, NZF, RAK, SKC, SKT, SPT, STU
Tuesday, 10 May 2011, 9:45 am | BusinessDesk
May 9 (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 >>
NZ dollar holds ground after S&P downgrades Greek debt
Tuesday, 10 May 2011, 8:21 am | BusinessDesk
May 10 (BusinessDesk) - The New Zealand dollar was little changed, remaining on the sidelines as currency markets focused on the euro after Standard & Poor's downgraded Greece's credit rating further. More >>
Greenpeace too political to register as charity: NZ court
Monday, 9 May 2011, 6:04 pm | BusinessDesk
May 9 (BusinessDesk) – Environmental lobbyist Greenpeace of New Zealand Inc. is too involved in political causes to register as a charity, the High Court has ruled. More >>
Budget 2011: Govt brings irrigation schemes to market
Monday, 9 May 2011, 5:58 pm | BusinessDesk
May 9 (BusinessDesk) – The government puts its money where its mouth is today on supporting agricultural irrigation schemes with a $7 million subsidy over the next five years to get schemes to the point where they could be implemented. More >>
