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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 1575]
Hawke’s Bay backed-Ballylinch seeks control of THL
Friday, 15 April 2011, 9:41 am | BusinessDesk
April 15 (BusinessDesk) – An investment company owned by two Havelock North men has taken a cornerstone holding in Tourism Holdings Ltd. and made a partial takeover offer that would give them control of New Zealand’s biggest campervan rental firm. More >>
Stocks to watch: INS MFT, NZO, PGC, THL, WFT
Friday, 15 April 2011, 9:38 am | BusinessDesk
April 15 (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 >>
Insured Group cans bid for accident assessor
Friday, 15 April 2011, 9:35 am | BusinessDesk
April 15 (BusinessDesk) – Insured Group, which listed on the NZX using the shell of the failed Lombard Group, has abandoned its plan to buy a controlling stake in an Australian motor vehicle accident assessor. More >>
NZ dollar edges up versus greenback as commodities revive
Friday, 15 April 2011, 8:30 am | BusinessDesk
April 15 (BusinessDesk) - The New Zealand dollar inched higher against the greenback, with elevated commodity prices helping the kiwi gain against a volatile U.S. dollar. More >>
Papers detail boardroom showdown that forced Hubbard out
Thursday, 14 April 2011, 6:13 pm | BusinessDesk
April 14 (BusinessDesk) – Exasperated independent directors threatened to quit if South Canterbury Finance Ltd. owner Allan Hubbard didn’t quit the board over his related party loans. More >>
MARKET CLOSE: NZ stocks fall; Telecom paces decliners
Thursday, 14 April 2011, 6:05 pm | BusinessDesk
April 14 (BusinessDesk) - New Zealand stocks fell, with Telecom Corp. pacing decliners as the continued uncertainty surrounding government's $1.35 billion ultrafast broadband project weighs on the stock. Diligent Board Member Services Inc. surged after it ... More >>
Windflow to retrench, raise fresh capital
Thursday, 14 April 2011, 5:55 pm | BusinessDesk
April 14 (BusinessDesk) –Wind turbine developer Windflow Technology Ltd. is cutting back staff, considering fresh capital raising, and dusting off interest from foreign manufacturers in licencing the company’s two-blade turbine technology as it seeks ... More >>
SCF receiver puts ‘good bank’ assets on the market
Thursday, 14 April 2011, 5:19 pm | BusinessDesk
April 14 (BusinessDesk) – South Canterbury Finance Ltd.’s so-called ‘good bank’ assets are being put on the block as the recovery process hits its stride more than six months after the firm’s billion-dollar collapse. More >>
SCF receiver puts ‘good bank’ assets on the market
Thursday, 14 April 2011, 5:01 pm | BusinessDesk
by Paul McBeth April 14 (BusinessDesk) – South Canterbury Finance Ltd.’s so-called ‘good bank’ assets are being put on the block as the recovery process hits its stride more than six months after the financier’s billion-dollar collapse. More >>
Agria wins control of Wrightson, lifts stake above 50%
Thursday, 14 April 2011, 4:53 pm | BusinessDesk
April 14 (BusinessDesk) – Agria Corp. has lifted its stake in PGG Wrightson Ltd. to 50.5%, putting control of New Zealand's biggest rural services company in Chinese hands. More >>
Richard Griffin to chair Radio New Zealand
Thursday, 14 April 2011, 3:10 pm | BusinessDesk
April 14 (BusinessDesk) – Radio New Zealand’s one-time political editor Richard Griffin has been named chairman of his old employer, replacing Christine Grice, in a move tipped since his elevation to the deputy chairmanship. More >>
Statistics NZ faces $72mln double-whammy on census costs
Thursday, 14 April 2011, 1:45 pm | BusinessDesk
April 14 (BusinessDesk) – Statistics New Zealand faces a double charge on much of the census costs after the government canned the survey in the wake of the Feb. 22 earthquake. More >>
Shanghai Pengxin would spend more than $200M on Crafar farms
Thursday, 14 April 2011, 1:06 pm | BusinessDesk
April 14 (BusinessDesk) – Shanghai Pengxin Group, a Chinese investment company with interests in bio-fuel, fisheries, farming and property development, plans to spend more than $200 million purchasing the Crafar farms. More >>
First-quarter GDP data delayed by earthquake: Statistics NZ
Thursday, 14 April 2011, 12:55 pm | BusinessDesk
(BusinessDesk) – New Zealand’s first-quarter gross domestic product figures may be delayed for up to two weeks because the Feb. 22 earthquake in Christchurch the collection of data. Government statistician Geoff Bascand told a media briefing in ... More >>
NZ PMI falls in March as quake erodes manufacturing recovery
Thursday, 14 April 2011, 11:49 am | BusinessDesk
April 14 (BusinessDesk) - New Zealand manufacturing fell in March with the effects of the Christchurch earthquake eroding a recovery in production seen at the start of the year. More >>
NZ accommodation numbers slip in January
Thursday, 14 April 2011, 11:06 am | BusinessDesk
April 14 (BusinessDesk) – New Zealand accommodation numbers fell in January, with the number of guest nights at motels and holiday parks slightly lower in a traditionally busy time of year. More >>
Diligent chalks up record first quarter
Thursday, 14 April 2011, 10:18 am | BusinessDesk
April 14 (BusinessDesk) - Startup software company Diligent Board Member Services had a record first-quarter, lifting sales 70% while net additional annualised license fees were more than triple that of the same period last year. More >>
Commerce Commission chided for proposed Vector changes
Thursday, 14 April 2011, 10:03 am | BusinessDesk
April 14 (BusinessDesk) –The latest Commerce Commission changes to proposed monopoly electricity network price-setting are “material but seemingly arbitrary” and mean the regulatory regime “remains as uncertain and subjective as ever,” says ... More >>
Stocks to watch: AIA, CAV, DIL, IFT, MHI, NZO, PGC
Thursday, 14 April 2011, 9:34 am | BusinessDesk
April 14 (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 >>
Michael Hill 3rd-qtr same-store sales rise 5.7%
Thursday, 14 April 2011, 9:15 am | BusinessDesk
April 14 (BusinessDesk) – Michael Hill International Ltd., the jeweller whose founding family reasserted control this year, said same-store sales gained 5.7% in the third quarter. More >>
