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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 1579]
Stocks to watch: AIR, CAV, FPA, HGD, NZO, RYM, WHS
Thursday, 7 April 2011, 9:34 am | BusinessDesk
April 7 (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 >>
English calls media conference amid speculation over AMI
Thursday, 7 April 2011, 9:23 am | BusinessDesk
April 7 (BusinessDesk) – Finance Minister Bill English has called a media conference for 10 a.m. today to make a Canterbury earthquake-related announcement amid speculation that AMI Insurance Ltd. has come close to draining its claims paying potential. More >>
NZ dollar rises to two-month high as risk appetite soars
Thursday, 7 April 2011, 8:34 am | BusinessDesk
April 7 (BusinessDesk) -The New Zealand dollar rose to a two-month high against the greenback, rising as high as 78.06 U.S. cents, as growing levels of investor confidence saw global equity markets extend their rally. More >>
MARKET CLOSE: NZ stocks fall; Warehouse paces decliners
Wednesday, 6 April 2011, 5:47 pm | BusinessDesk
April 6 (BusinessDesk) - New Zealand stocks fell, snapping 16 days of gains, with Warehouse Group, New Zealand's biggest retailer, pacing decliners, while Methven Ltd. rose. More >>
Pacific Fibre seeks tenders to build second cable
Wednesday, 6 April 2011, 12:08 pm | BusinessDesk
April 6 (BusinessDesk) – Pacific Fibre Ltd., the local start-up looking to build a second internet cable linking New Zealand to the world, has split from partner Pacnet and has put out a tender to have its system built. More >>
Goodman Property announces next stage of Highbrook project
Wednesday, 6 April 2011, 11:24 am | BusinessDesk
April 6 (BusinessDesk) - Goodman NZ Ltd., the manager of Goodman Property Trust, today announced the next stage of its $1 billion Highbrook Business Park in Auckland, with the construction of a mixed use development. More >>
Unhappy Chilean farmers quashed Fonterra-Nestle merger
Wednesday, 6 April 2011, 11:11 am | BusinessDesk
April 6 (BusinessDesk) – Fonterra Cooperative Group abandoned plans for a Chilean joint venture with multi-national food producer Nestle SA after local farmers complained the group would have too much market power. More >>
Auckland property sales pick up in March
Wednesday, 6 April 2011, 10:49 am | BusinessDesk
April 6 (BusinessDesk) – The number of house sales in Auckland continued to climb last month, eating into the number of properties on real estate agent Barfoot & Thompson’s books. More >>
Fonterra’s Chilean unit backs away from Nestle merger
Wednesday, 6 April 2011, 9:43 am | BusinessDesk
April 6 (BusinessDesk) – Fonterra Cooperative Group’s Chilean subsidiary, Soprole SA, has backed out of a proposed merger with food producer Nestle SA. More >>
Stocks to watch: CHA, FPA, GPG, KMD, OGC, TEN
Wednesday, 6 April 2011, 9:34 am | BusinessDesk
April 6 (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 >>
Guinness Peat taps Rob Campbell as new chairman
Wednesday, 6 April 2011, 8:47 am | BusinessDesk
April 6 (BusinessDesk) – Rob Campbell has been tapped to chair Guinness Peat Group after change-manager Mark Johnson stepped down last week. More >>
Milk powder prices extend slide in Fonterra auction
Wednesday, 6 April 2011, 8:42 am | BusinessDesk
April 6 (BusinessDesk) – The average price of milk powder fell 2.4% in Fonterra Cooperative Group’s latest online auction, extending its slide for a second straight sale and pushing prices to the lowest level since Feb. 1. More >>
NZ dollar falls as milk powder prices slide
Wednesday, 6 April 2011, 8:27 am | BusinessDesk
April 6 (BusinessDesk) - The New Zealand dollar fell as milk powder prices declined in the latest globalDairyTrade auction, with the currency’s slide capped by reinsurance flows from offshore to pay claims from the Christchurch earthquake. More >>
Cargolux, British Airways to pay $7.7 mln over cargo cartel
Tuesday, 5 April 2011, 6:19 pm | BusinessDesk
April 5 (BusinessDesk) – Air carriers Cargolux International Airlines S.A. and British Airways Plc have agreed to pay more than $7.7 million in penalties to the Commerce Commission for their part in a global air cargo cartel. More >>
MARKET CLOSE: NZ stocks rise for 15th session; STU gains
Tuesday, 5 April 2011, 5:48 pm | BusinessDesk
MARKET CLOSE: NZ stocks rise for 15th session; Steel & Tube paces gainers, Pumpkin Patch falls More >>
TVNZ confirms sale of Avalon studios
Tuesday, 5 April 2011, 3:34 pm | BusinessDesk
April 5 (BusinessDesk) – Television New Zealand Ltd. is to sell its 36 year-old production facilities at Avalon, Lower Hutt, virtually completing the state broadcaster’s shift of all production facilities to Auckland. More >>
Power announces first FMA board
Tuesday, 5 April 2011, 11:44 am | BusinessDesk
April 5 (BusinessDesk) – Commerce Minister Simon Power has announced the first board for the financial markets super-regulator. More >>
Tenon on the hunt for new CEO after Highley resigns
Tuesday, 5 April 2011, 11:22 am | BusinessDesk
April 5 (BusinessDesk) - Tenon Ltd., whose wood mouldings are sold through U.S. home improvement chains Lowe’s Cos. and Home Depot Inc., will begin hunting for a new chief executive after Tom Highley announced his resignation today. More >>
NZ antitrust regulator looking at barriers to UFB buy-in
Tuesday, 5 April 2011, 11:06 am | BusinessDesk
April 5 (BusinessDesk) – The Commerce Commission wants to look at potential barriers to end-user uptake of ultra-fast broadband, and is asking for input on the draft terms of reference of its investigation. More >>
Charlie’s stock soars to record on Woolworths deal
Tuesday, 5 April 2011, 10:54 am | BusinessDesk
April 5 (BusinessDesk) – Shares of Charlie’s Group soared 27% to a record after the juice and soft-drink maker announced a deal with Woolworths Ltd. to stock its range, adding to a similar agreement with the rival Coles chain and making Australia ... More >>
