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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 1573]
Livestock Improvement agrees to $10M loan to Agria venture
Wednesday, 20 April 2011, 5:59 pm | BusinessDesk
April 20 (BusinessDesk) - Livestock Improvement Corp., the farmer-owned livestock genetics and feed company, has agreed to extend a $10 million loan to Agria Singapore to help fund its partial takeover of PGG Wrightson. More >>
Jasons Travel loses CEO, mulls capital needs
Wednesday, 20 April 2011, 5:51 pm | BusinessDesk
Jasons Travel loses CEO, mulls capital needs April 20 (BusinessDesk) – Jasons Travel Ltd. is reviewing its capital needs as it moves from a sales-driven to an online business to consumer marketing play, and has announced the departure of its ... More >>
MARKET CLOSE: NZ stock rise; Telecom leads gainers
Wednesday, 20 April 2011, 5:50 pm | BusinessDesk
April 20 (BusinessDesk) - New Zealand stocks rose, pushing the NZX 50 Index to the highest level since June 2008, after Telecom Corp.'s joint bid with Vodafone won the government's $285 million rural broadband contract. Pyne Gould Corp. fell amid ... More >>
AMP Capital keeps funds mildly skewed toward global growth
Wednesday, 20 April 2011, 5:34 pm | BusinessDesk
April 20 (BusinessDesk) - AMP Capital Investors, the New Zealand funds management arm of AMP Ltd., kept its funds positioned for world growth in the first quarter, slightly overweight global shares and underweight fixed interest. More >>
Sanford first-half profit more than doubles on seafood boom
Wednesday, 20 April 2011, 4:59 pm | BusinessDesk
April 20 (BusinessDesk) - Sanford Ltd., the fishing company whose shares have climbed almost 20% this year, said sales and profit in its first half surged with global seafood prices and volume increases in some species. More >>
Silver Fern Farms makes Te Aroha investments
Wednesday, 20 April 2011, 4:32 pm | BusinessDesk
April 20 (BusinessDesk) – Silver Fern Farms Ltd. is to make major investments on a new beef processing plant on its Te Aroha site, and buying the plant of a nearby rival, Wallace Corp., in the same district. More >>
Commerce Commission stops gunning for Air NZ executives
Wednesday, 20 April 2011, 3:35 pm | BusinessDesk
April 20 (BusinessDesk) – New Zealand’s Commerce Commission has dropped charges against six cargo executives at Air New Zealand and dropped PT Garuda Indonesia from its list of airlines being charged over their role in an air cargo cartel. More >>
Rob Campbell named chairman of Turners & Growers
Wednesday, 20 April 2011, 12:24 pm | BusinessDesk
April 20 (BusinessDesk) – Rob Campbell, chairman of Guinness Peat Group, has been named to the same position at its 66% fruit and vegetable company Turners & Growers. More >>
Bathurst awards Buller plant contract to Brightwater
Wednesday, 20 April 2011, 11:32 am | BusinessDesk
April 20 (BusinessDesk) - Bathurst Resources Ltd. is one step closer to getting its Buller Coal Project operational after wholly owned subsidiary Buller Coal Ltd appointed local firm Brightwater Engineering to build its coal processing plant and associated ... More >>
Budget 2011: New financial watchdog gets 44% funding boost
Wednesday, 20 April 2011, 11:15 am | BusinessDesk
April 20 (BusinessDesk) – The new Financial Markets Authority will have long term funding 44% higher than current regulators, including the much-criticised Securities Commission. More >>
DNZ Property distributable profit beats prospectus forecast
Wednesday, 20 April 2011, 10:20 am | BusinessDesk
April 20 (BusinessDesk) - DNZ Property Fund Ltd. said distributable profit in its first year as a listed company has beaten the forecast in its offer documents, reflecting lower financing costs. More >>
Stocks to watch: BTU, DNZ, NZR, TEL, THL, TUR
Wednesday, 20 April 2011, 9:57 am | BusinessDesk
April 20 (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 >>
"Big Two" telcos win rural broadband funding
Wednesday, 20 April 2011, 9:51 am | BusinessDesk
April 20 (BusinessDesk) – A rare partnership between the country’s two dominant telecommunications companies, Telecom Corp. and Vodafone, has won the $285 million contract to roll out ultra-fast broadband to rural New Zealand. More >>
Turners & Growers starts strategic review as GPG mulls stake
Tuesday, 19 April 2011, 6:14 pm | BusinessDesk
April 19 (BusinessDesk) - Turners & Growers, the fruit and vegetable company controlled by Guinness Peat Group, has hired Goldman Sachs & Partners for a strategic review to 'unlock value', a sign that 66% owner Guinness Peat Group is considering ... More >>
MARKET CLOSE: NZ stocks fall on offshore debt fears
Tuesday, 19 April 2011, 5:54 pm | BusinessDesk
MARKET CLOSE: NZ stocks fall on offshore debt fears; Pyne Gould leads decliners, Argosy gains More >>
Refinery business environment to remain volatile
Tuesday, 19 April 2011, 4:02 pm | BusinessDesk
Refinery business environment to remain volatile The New Zealand Refining Company expects its business environment will remain volatile with its results for calendar 2011 ranging anywhere from a net $45 million loss to a $199 million profit, depending ... More >>
THL appoints Simmons Corporate Finance as takeover adviser
Tuesday, 19 April 2011, 1:25 pm | BusinessDesk
by Jason Krupp April 19 (BusinessDesk) - Tourism Holdings, New Zealand's biggest campervan rental company, has commissioned Simmons Corporate Finance Ltd. to act as independent adviser to the board during the partial takeover from Ballylinch LP. More >>
Vital Healthcare follows Argosy to internalise management
Tuesday, 19 April 2011, 10:48 am | BusinessDesk
Vital Healthcare follows sibling Argosy to internalise management contract April 19 (BusinessDesk) - Vital Healthcare Property Trust, one of two listed property trusts managed by a unit of ANZ Bank, plans to follow its sibling Argosy Property Trust ... More >>
High Court imposes record $12M fine on Telecom
Tuesday, 19 April 2011, 10:24 am | BusinessDesk
April 19 (BusinessDesk) – Telecom Corp. has been hit with a record $12 million fine for misusing its market power by charging rivals ‘disproportionately high prices’ for access to its network between 2001 and 2004. More >>
Stocks to watch: ARG, PGW, PFI, TEL, VCT, WHS
Tuesday, 19 April 2011, 9:41 am | BusinessDesk
April 19 (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 >>
