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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 1581]
Farming Systems pays out dissident bond holder
Friday, 1 April 2011, 9:50 am | BusinessDesk
April 1 (BusinessDesk) – NZ Farming Systems Uruguay Ltd., the South American dairy farm developer controlled by Singapore’s Olam International Ltd., has paid out US$4.3 million to a bondholder who rejected its rejigged strategy. More >>
Stocks to watch: APN, CVT, FPA, KIP, NZS, PGW, SCT
Friday, 1 April 2011, 9:35 am | BusinessDesk
April 1 (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 rises as global growth outlook stokes commodities
Friday, 1 April 2011, 8:36 am | BusinessDesk
April 1 (BusinessDesk) - The New Zealand dollar rose, as better economic data out of the U.S. and Europe helped spur a rally in commodity prices and the currencies of nations that produce them. More >>
MARKET CLOSE: NZ stocks rise; Wrightson paces gainers
Thursday, 31 March 2011, 5:41 pm | BusinessDesk
March 31 (BusinessDesk) - New Zealand stocks rose, extending their rally for a 12th day, as upbeat sentiment on global equity markets made up for signs of deteriorating business confidence at home. PGG Wrightson Ltd. paced gainers after Agria extended ... More >>
Quake deals Kiwi Income Property a $52.1 mln hit
Thursday, 31 March 2011, 5:19 pm | BusinessDesk
by Pattrick Smellie March 31 (BusinessDesk) – Kiwi Income Property Trust, the country’s biggest listed property entity, has taken a $52.1 million hit on the Christchurch earthquake as it writes down the value of its property portfolio by 4%. More >>
Agria extends Wrightson tilt again amid slow uptake
Thursday, 31 March 2011, 4:53 pm | BusinessDesk
by Paul McBeth and Jason Krupp March 31 (BusinessDesk) – Agria (Singapore) Pte. has extended its bid to take a controlling stake in rural services firm PGG Wrightson Ltd. for another week as it struggles to win over shareholders. More >>
NZ business confidence plummets - and not just in Canterbury
Thursday, 31 March 2011, 3:59 pm | BusinessDesk
March 31 (BusinessDesk) - New Zealand business confidence plummeted this month, and while the decline was worst in Canterbury, the latest survey shows gloom has set in nationwide following the devastating earthquake. More >>
Huljich purchase pushes Fisher Funds to KiwiSaver big time
Thursday, 31 March 2011, 3:27 pm | BusinessDesk
March 31 (BusinessDesk) – Auckland funds and investment manager Fisher Funds Ltd. is to buy the KiwiSaver business run by Huljich Wealth Management, for an undisclosed sum, and transforming it into a major player in the government-subsidised retirement ... More >>
BBG’s Shand moves on
Thursday, 31 March 2011, 1:59 pm | BusinessDesk
March 31 (BusinessDesk) – One of the country’s most experienced public relations operatives, Greg Shand, is leaving Baldwin Boyle Group, the Auckland-based consultancy that handles Fonterra’s communications and reputation management. More >>
Downer secures A$140 million in road contracts
Thursday, 31 March 2011, 11:46 am | BusinessDesk
March 31 (BusinessDesk) - Downer EDI Ltd, the Australian engineering firm, says its contracting book is expected to swell by A$140 million after securing a number of new road building and maintenance contracts in Australia. More >>
Let out-of-the-money options lapse, Pike investors urged
Thursday, 31 March 2011, 11:39 am | BusinessDesk
March 31 (BusinessDesk) – Holders of 64 million out-of-the-money options in the failed Pike River Coal should allow them to lapse, the company says. More >>
Scott Technology buys majority stake in magnet maker
Thursday, 31 March 2011, 10:32 am | BusinessDesk
March 31 (BusinessDesk) – Scott Technology Ltd. has bought a controlling stake in electromagnet manufacturer HTS-110 Ltd., and said it’s looking at a rights issue to help fund the deal. More >>
Comvita gives profit warning on tax changes, UK legal stoush
Thursday, 31 March 2011, 10:23 am | BusinessDesk
March 31 (BusinessDesk) - Comvita Ltd., the honey products manufacturer, has slashed its earnings outlook and may return a loss to shareholders this year as tax depreciation changes and its ongoing legal battle in the U.K. weigh on earnings. More >>
Stocks to watch: FBU, GPG, MVN, NPX, NZR, OGC
Thursday, 31 March 2011, 9:48 am | BusinessDesk
March 31 (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 >>
Weiss quits GPG; Johnson, Nixon won’t seek re-election
Thursday, 31 March 2011, 9:41 am | BusinessDesk
March 31 (BusinessDesk) – Gary Weiss has quit Guinness Peat Group, while director Blake Nixon and chairman Mark Johnson won’t seek re-election to the board as the diversified investment firm winds down. More >>
NZ dollar breaks above 76 US cents on upbeat US jobs data
Thursday, 31 March 2011, 8:29 am | BusinessDesk
March 31 (BusinessDesk) - The New Zealand dollar broke above the 76 U.S. cents level, it highest level since Feb. 11, as upbeat job numbers in the U.S. spurred the rally in global equity markets. More >>
MARKET CLOSE: NZ stocks rise for 11th session; Rakon leads
Wednesday, 30 March 2011, 5:47 pm | BusinessDesk
MARKET CLOSE: New Zealand stocks rise for 11th session; Rakon leads gainers, NZ Refining falls More >>
NZ generators' gentlemen’s agreement at risk as prices jump
Wednesday, 30 March 2011, 5:05 pm | BusinessDesk
March 30 (BusinessDesk) – Electricity industry executives have revealed they exercise 'self-restraint' rather than exploit temporary opportunities to charge very high prices on the wholesale electricity spot market, as occurred during last Saturday’s ... More >>
Fletcher succeeds with Crane offer, reaching over 90%
Wednesday, 30 March 2011, 4:54 pm | BusinessDesk
March 30 (BusinessDesk) – Fletcher Building Ltd. has secured almost 93% of target Crane Group’s shares and will force compulsory acquisition on the remaining shareholders. More >>
Commerce Commission looking at whether to probe dairy prices
Wednesday, 30 March 2011, 4:27 pm | BusinessDesk
March 30 (BusinessDesk) – The Commerce Commission is looking at whether it needs to set retail milk prices after receiving a number of complaints about increases. More >>
