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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 1568]
Receivers block Lombard directors’ document pleas
Thursday, 5 May 2011, 11:29 am | BusinessDesk
May 5 (BusinessDesk) – Receivers for the failed finance company Lombard Finance and Investments Ltd. are blocking access to documents vital to the defence of its board, says counsel for the directors, who include two former Justice Ministers, ... More >>
Bank of NZ 1H profit rises 11%, lures more retail deposits
Thursday, 5 May 2011, 11:15 am | BusinessDesk
May 5 (BusinessDesk) Bank of New Zealand, the local unit of National Australia Bank, posted an 11% gain in first-half cash earnings after luring more retail deposits and keeping a check on costs in what it calls a ‘fiercely competitive’ banking ... More >>
NZ jobless rate falls to 6.6% in 1st qtr; kiwi dollar jumps
Thursday, 5 May 2011, 10:51 am | BusinessDesk
NZ jobless rate falls to 6.6% in 1st qtr; kiwi dollar jumps on news More >>
Commerce Commission slashes mobile call termination rates
Thursday, 5 May 2011, 9:48 am | BusinessDesk
May 5 (BusinessDesk) – The Commerce Commission has announced regulated price cuts for rates that mobile phone operators charge each other for ending calls on rival networks. More >>
Stocks to watch: CHA, NZX, STU, TEL, WBC, WHS
Thursday, 5 May 2011, 9:40 am | BusinessDesk
May 5 (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 >>
Kea has high hopes for Wingrove oil tests
Thursday, 5 May 2011, 9:08 am | BusinessDesk
May 5 (BusinessDesk) – London-based New Zealand oil and gas explorer Kea Petroleum PLC has high hopes that imminent production testing at its on-shore Taranaki oil exploration site, Wingrove, will lead to a string of new wells in the 10 square kilometre ... More >>
More kiwis will move to floating rate mortgages, Frazis says
Thursday, 5 May 2011, 9:06 am | BusinessDesk
May 4 (BusinessDesk) – New Zealanders will continue to move to floating rate mortgages as the Reserve Bank keeps interest rates low to revive the economy, says George Frazis, Westpac Banking Corp.’s local chief executive. More >>
NZ dollar extends fall as commodities decline; HLFS looms
Thursday, 5 May 2011, 8:33 am | BusinessDesk
May 5 (BusinessDesk) - The New Zealand dollar slipped further against the greenback overnight as risk-off trading saw commodity prices fall for a third day, denting demand for the local currency. That was ahead of today's labour force survey which ... More >>
MARKET CLOSE: NZ stocks mixed; Pumpkin Patch paces gainers
Wednesday, 4 May 2011, 5:48 pm | BusinessDesk
May 4 (BusinessDesk) - New Zealand were mixed. Pumpkin Patch Ltd. paced gainers as a weaker kiwi dollar lifted the value of offshore sales, while APN News & Media Ltd. fell following its profit warning yesterday. Juice maker Charlie's Group surged ... More >>
Greenstone to relaunch Shell network next week
Wednesday, 4 May 2011, 5:47 pm | BusinessDesk
May 4 (BusinessDesk) – Greenstone Energy is promising “the biggest business launch in New Zealand for New Zealand” next Wednesday, when it unveils its plans to revamp the nationwide network of 220 Shell service stations. More >>
Sleepyhead family expands bed-making empire
Wednesday, 4 May 2011, 5:12 pm | BusinessDesk
May 4 (BusinessDesk) – New Zealand Comfort Group, the Turner family company that owns the Sleepyhead brand, has agreed to buy bed and furniture manufacturer Dunlop Living Ltd. More >>
NZX equity activity continues to surge in April
Wednesday, 4 May 2011, 12:44 pm | BusinessDesk
May 4 (BusinessDesk) - Trading on the NZX Ltd. securities markets continued to be a tale of two indices in April, with equity performance riding the bow wave of rising risk appetite in the month, while debt market activity retreated. More >>
NZ residential building consents see modest gain in March
Wednesday, 4 May 2011, 11:48 am | BusinessDesk
May 4 (BusinessDesk) - New Zealand's residential building activity eked out a modest improvement in March, having fallen to a two-year low in the previous month after the Christchurch earthquake. More >>
Aussies eschew kiwi holidays; tourist numbers slide in March
Wednesday, 4 May 2011, 11:28 am | BusinessDesk
May 4 (BusinessDesk) – Fewer Australians graced New Zealand’s shores in March as the country recorded the smallest number of short-term visitors for that month in seven years. More >>
Auckland property sales come off boil in April
Wednesday, 4 May 2011, 11:16 am | BusinessDesk
May 4 (BusinessDesk) – Auckland property sales pulled back in April after surging the previous month, according to figures released by real estate firm Barfoot & Thompson. More >>
Westpac’s NZ first-half earnings jump 68% on fatter margins
Wednesday, 4 May 2011, 10:51 am | BusinessDesk
May 4 (BusinessDesk) – Westpac Banking Corp.’s New Zealand unit boosted first-half cash earnings by 68% on fatter interest-rate margins as more borrowers stayed on floating mortgage rates. More >>
Irongate placed in receivership by Perpetual Trust
Wednesday, 4 May 2011, 10:33 am | BusinessDesk
May 4 (BusinessDesk) – Irongate Property Ltd. has been placed in receivership Perpetual Trust owing $45 million to 1,545 bond holders. More >>
Bathurst completes A$55M placement, trading halt lifted
Wednesday, 4 May 2011, 9:51 am | BusinessDesk
May 3 (BusinessDesk) - Bathurst Resources Ltd. has completed its A$55 million institutional placement, selling shares at a 10% discount, and the trading halt on the coal miner’s stock has been lifted. More >>
Christchurch rebuild alliance work worth more than $2 bln
Wednesday, 4 May 2011, 9:21 am | BusinessDesk
May 4 (BusinessDesk) – The group of construction companies tapped to rebuild Christchurch city infrastructure damaged by the earthquakes are looking at more than $2 billion of work over the next five years. More >>
Stocks to watch: ANZ, APN, ARG, BTU, KMD, TEL, WHS
Wednesday, 4 May 2011, 9:17 am | BusinessDesk
May 4 (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 >>
