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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 1574]
Argosy to internalise management contract for $32.5M
Tuesday, 19 April 2011, 9:37 am | BusinessDesk
April 19 (BusinessDesk) – Argosy Property Trust is proposing to internalise its management contract, buying out the current ANZ Bank-owned manager $32.5 million with funds raised from selling properties and taking on bank debt. More >>
NZ dollar falls on U.S. credit rating outlook
Tuesday, 19 April 2011, 8:26 am | BusinessDesk
April 19 (BusinessDesk) - The New Zealand dollar fell against the greenback due to a sudden reversal in risk appetite on global equity markets after the ratings agency Standard & Poor's placed the U.S. sovereign credit rating on negative outlook. More >>
MARKET CLOSE: NZ stocks rise; Telecom leads gainers
Monday, 18 April 2011, 5:44 pm | BusinessDesk
April 18 (BusinessDesk) - New Zealand stocks rose, led by Telecom Corp. after the phone company announced it has submitted its final bid to build the government's $1.35 billion ultrafast broadband network. Steel & Tube Holdings fell. More >>
NZ, China central banks agree $5 bln facility for trade
Monday, 18 April 2011, 5:28 pm | BusinessDesk
NZ, China central banks agree $5 bln swap line to support trade deals in renminbi More >>
Telecom restructures senior management
Monday, 18 April 2011, 5:10 pm | BusinessDesk
April 18 (BusinessDesk) – Telecom Corp. is down-sizing ahead of government decisions on its involvement in the ultra-fast broadband roll-out initiative, and is starting by reducing the size of its senior management group. More >>
NZ dollar outlook: Kiwi may fall, bull run falters after CPI
Monday, 18 April 2011, 3:00 pm | BusinessDesk
NZ dollar outlook: Kiwi may fall as CPI report shows RBNZ won’t need to rush on rates More >>
WEEKLY SPORTS DIGEST: A tale of two Hamiltons – F-1 and V8
Monday, 18 April 2011, 2:36 pm | BusinessDesk
WEEKLY SPORTS DIGEST: A tale of two Hamiltons – F-1’s Lewis and V8 Supercars More >>
South Island service industries hammered post-quake
Monday, 18 April 2011, 11:14 am | BusinessDesk
South Island service industries hammered post-quake April 18 (BusinessDesk) – South Island service businesses such as accommodation, restaurants, café, retail and gyms took a heavy knock in March, reflecting the inevitable impact of the Feb. ... More >>
NZ first-quarter inflation was lower-than-expected 0.8%
Monday, 18 April 2011, 11:09 am | BusinessDesk
NZ first-quarter inflation was lower-than-expected 0.8%, for annual pace of 4.5% More >>
Warehouse's Powell to be CEO from May; Smith to depart chair
Monday, 18 April 2011, 10:22 am | BusinessDesk
April 18 (BusinessDesk) - Warehouse Group, the country's biggest listed retailer, will replace its chairman as well as its chief executive, with the announcement today that Keith Smith is stepping down as head of the board of directors. More >>
Stocks to watch: GMT, LPC, OGC, PGC, TEL, TUR
Monday, 18 April 2011, 9:25 am | BusinessDesk
April 18 (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 nears 80 U.S. cents before 1st-qtr inflation data
Monday, 18 April 2011, 8:32 am | BusinessDesk
April 18 (BusinessDesk) - The New Zealand dollar rose against most major currencies, coming within a whisker of 80 U.S. cents, supported by the ongoing surge in soft commodity prices, with today's first-quarter inflation numbers likely to add more ... More >>
World Week Ahead: Earnings and inflation
Monday, 18 April 2011, 7:48 am | BusinessDesk
First, Chinese authorities are bound to be contemplating a more dramatic effort to curb growth in the world’s second biggest economy after the latest inflation and gross domestic product reports showed the expansion continues unabated. More >>
Budget 2011: Govt to chase OE student loan dodgers hard
Sunday, 17 April 2011, 4:45 pm | BusinessDesk
by Pattrick Smellie April 17 (BusinessDesk) – Measures in next month’s Budget will cut down the three year holiday on student loan repayments extended to former students who leave the country. More >>
UPDATED: Agria jumps gun on LIC as lender, wins Ngai Tahu
Friday, 15 April 2011, 6:14 pm | BusinessDesk
April 15 (BusinessDesk) – Agria Singapore has prematurely claimed support from Livestock Improvement Corp. by way of the $10 million loan to help fund its partial takeover of PGG Wrightson though it has confirmed South Island’s Ngai Tahu tribe ... More >>
Lyttelton Port says quake costs will be covered by insurance
Friday, 15 April 2011, 5:58 pm | BusinessDesk
April 15 (BusinessDesk) – Lyttelton Port Co., the South Island’s biggest port, says its earthquake claims will be covered by insurance. More >>
MARKET CLOSE: NZ stocks mixed, Steel & Tube leads decliners
Friday, 15 April 2011, 5:55 pm | BusinessDesk
April 15 (BusinessDesk) - New Zealand stocks were mixed after a flurry of merger and acquisition activity failed to fend off a bearish sentiment at the close of the week. Steel & Tube Holdings led decliners while Pyne Gould Corp. rose. More >>
Agria jumps gun on LIC and Ngai Tahu in PGW deal
Friday, 15 April 2011, 5:48 pm | BusinessDesk
April 15 (BusinessDesk) – Agria Singapore has prematurely claimed support from Livestock Improvement Corp. by way of the $10 million loan to help fund its partial takeover of PGG Wrightson and says the South Island’s Ngai Tahu tribe will also ... More >>
Telecom exits Yahoo!Xtra joint venture, shares gain
Friday, 15 April 2011, 4:37 pm | BusinessDesk
April 15 (BusinessDesk) – Telecom Corp., which is fighting for a chunk of government funding to build a national broadband network, has exited its stake in Yahoo!Xtra New Zealand Ltd. as it looks to shift its retail focus on to customer service. More >>
Govt appoints insurance veteran John Pritchard to AMI board
Friday, 15 April 2011, 11:52 am | BusinessDesk
April 15 (BusinessDesk) - The government has appointed John Pritchard to the board of AMI Insurance Ltd., extending its influence over the troubled insurer after agreeing to bail it out to the tune of as much as $1 billion. More >>
