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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 1576]
NZ dollar rises as market recovers from Japanese jitters
Thursday, 14 April 2011, 8:34 am | BusinessDesk
April 14 (BusinessDesk) - The New Zealand dollar rose against the greenback, testing a fresh five month high, after equities and commodities rallied as fears over the linger Japanese nuclear crisis were put on the backburner, while American President ... More >>
Pyne Gould outlines share distribution plan
Wednesday, 13 April 2011, 5:55 pm | BusinessDesk
April 13 (BusinessDesk) – Pyne Gould Corp., the listed financial services company, has obtained initial court orders outlining its proposed share distribution of its stake in Building Society Holdings. More >>
MARKET CLOSE: NZ stocks rise; Pyne Gould leads gainers
Wednesday, 13 April 2011, 5:51 pm | BusinessDesk
April 13 (BusinessDesk) - New Zealand stocks rose, led by Pyne Gould Corp. after the company released details if the distribution of its 72.21% shareholding in Building Society Holdings. Cavalier Corp. fell. More >>
NZ regulator can tolerate a monopoly in wool scouring
Wednesday, 13 April 2011, 5:45 pm | BusinessDesk
April 13 (BusinessDesk) - The Commerce Commission is comfortable with the creation of a monopoly in New Zealand wool scouring because there's a stronger public interest in reducing costs of the industry and rivals in China would keep the new owner honest. More >>
Auckland Airport March passenger volumes rise 4.4%
Wednesday, 13 April 2011, 4:13 pm | BusinessDesk
April 13 (BusinessDesk) - Auckland International Airport Ltd., the country’s major gateway, said international passenger volumes rose 4.4% in February, helped by a pick-up in visitors from Australia. More >>
Treasury fingers the biggest loser: government ICT costs
Wednesday, 13 April 2011, 3:28 pm | BusinessDesk
by Paul McBeth April 13 (BusinessDesk) – The government’s best opportunities for back-office savings lie in improving its complex and divergent information and communications technology services, where savings of up to $236 million a year are ... More >>
Mark Hotchin duped by Rotorua scammers in 2004
Wednesday, 13 April 2011, 3:20 pm | BusinessDesk
April 13 (BusinessDesk) - Hanover Finance director Mark Hotchin was duped by three fraudsters in 2004 but managed to keep his involvement secret for seven years for fear it would reflect badly on his business acumen. More >>
Power drops SOE portfolio as head-hunters flood in
Wednesday, 13 April 2011, 1:13 pm | BusinessDesk
April 13 (BusinessDesk) – Retiring senior Cabinet Minister Simon Power has relinquished his State-Owned Enterprises portfolio, effective immediately, to avoid any accusation of conflicts of interest while he seeks a job in the private sector. More >>
NZ food prices edge higher in March
Wednesday, 13 April 2011, 11:59 am | BusinessDesk
April 13 (BusinessDesk) - New Zealand food prices continued to edge higher in March, lead by increases in meat, poultry and fish prices. More >>
Asians underpin short-term arrivals to NZ
Wednesday, 13 April 2011, 11:45 am | BusinessDesk
April 13 (BusinessDesk) – Asian visitors continued to underpin New Zealand tourist numbers in February, as more Britons elected to stay away from this part of the world. More >>
NZ property activity, values improve in March, REINZ says
Wednesday, 13 April 2011, 11:25 am | BusinessDesk
April 13 (BusinessDesk) - New Zealand's property markets steered towards recovery in March, with the Auckland region leading the charge due to the ongoing housing shortage. More >>
Tough choices need to made over superannuation: Treasury
Wednesday, 13 April 2011, 10:55 am | BusinessDesk
April 13 (BusinessDesk) – The Treasury is warning the nation has to do something to address its ageing population, with either sharp spending cuts or higher taxes the most likely response to pension affordability. More >>
Stocks to watch: CHA, HGD, NZO, NZF, PGW, VCT
Wednesday, 13 April 2011, 9:38 am | BusinessDesk
April 13 (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 >>
Canadians buy Hubbard’s Helicopters for $160 mln
Wednesday, 13 April 2011, 8:59 am | BusinessDesk
April 13 (BusinessDesk) – Canadian Helicopters Group, Canada’s biggest chopper services company, will buy Allan Hubbard’s Helicopters (NZ) Ltd. for $160 million, beating the value put on the unit when it was tipped into lender South Canterbury ... More >>
NZ dollar rises to 5-mth high, seen breaking through 80 cts
Wednesday, 13 April 2011, 8:28 am | BusinessDesk
April 13 (BusinessDesk) - The New Zealand rose to a five month high against the greenback, bucking a slide on equity and commodity markets with traders betting the currency still has more ground to gain. More >>
MARKET CLOSE: NZ stocks fall; Vector leads decliners
Tuesday, 12 April 2011, 5:57 pm | BusinessDesk
by Jason Krupp April 12 (BusinessDesk) - New Zealand stocks fell, with Vector Ltd. leading the exchange lower for a second day as investors assessed the impact of the Commerce Commission's proposed changes to the utility's rate of return. Argosy Property ... More >>
NZ securities regulator probes disclosure of Credit Sails
Tuesday, 12 April 2011, 3:32 pm | BusinessDesk
April 12 (BusinessDesk) – The Securities Commission is investigating disclosures made during the 2006 promotion and sale of $91.5 million of index-linked notes known as Credit Sails, which are now worthless. More >>
English says budget should soothe ratings agency concerns
Tuesday, 12 April 2011, 2:45 pm | BusinessDesk
April 12 (BusinessDesk) – Credit rating companies are awaiting the May budget before deciding whether to lower the nation’s credit rating, says Finance Minister Bill English. More >>
Huljich resigns directorships following Fisher Fund deal
Tuesday, 12 April 2011, 1:41 pm | BusinessDesk
April 12 (BusinessDesk) - Peter Huljich is resigning from all listed company directorships following the sale of Huljich Wealth Management to Fisher Funds Ltd., according to a statement from NZF Group Ltd. sent to the NZX today. More >>
NZ property values stable in March, says QV
Tuesday, 12 April 2011, 1:05 pm | BusinessDesk
April 12 (BusinessDesk) - Residential property values in New Zealand were stable in March, although hopes of a price recovery were dashed after declines in Auckland and Wellington, according to government valuer Quotable Value Ltd. More >>
