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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 1582]
Government lifts bond sale programme by $1.5 bln
Wednesday, 30 March 2011, 12:38 pm | BusinessDesk
March 30 (BusinessDesk) – The government will boost this year’s bond sales by $1.5 billion as it deals with a cash deficit that could be as big as 9% of the economy. More >>
Genesis says energy sector had ample warning on price spike
Wednesday, 30 March 2011, 12:30 pm | BusinessDesk
March 30 (BusinessDesk) – Electricity industry players had every opportunity but chose not to protect themselves from last weekend’s spike in wholesale electricity market spot prices to more than $20,000 per Megawatt hour, Genesis Energy Ltd. says. More >>
February building consents tumble on earthquake impact
Wednesday, 30 March 2011, 11:35 am | BusinessDesk
March 30 (BusinessDesk) - New Zealand building consents slumped in February, with the number of residential building permits issued falling to its lowest level in two years, as the Christchurch earthquake delivered a further blow to the embattled ... More >>
Abano keeps dividend unchanged in face of one-off costs
Wednesday, 30 March 2011, 11:05 am | BusinessDesk
March 30 (BusinessDesk) – Abano Healthcare Group, which buys and aggregates health clinics in New Zealand, Australia and Asia, will maintain its annual dividend at 21 cents even as earnings growth is constrained by the cost of expansion. Operating ... More >>
Fletcher on cusp of forcing Crane takeover, stock at 3Y high
Wednesday, 30 March 2011, 10:44 am | BusinessDesk
March 30 (BusinessDesk) – Fletcher Building Ltd., the country’s biggest listed company, is on the cusp of forcing the remaining shareholders in Crane Group to sell. The shares gained to a new three-year high on the open of trading. More >>
Quakes to deliver short, sharp shock to NZ tourism sector
Wednesday, 30 March 2011, 10:37 am | BusinessDesk
March 30 (BusinessDesk) – The tourism sector will bear the brunt of the Christchurch and Japanese earthquakes, but a short-term plunge in tourist arrivals should be short-lived and largely over by the middle of the year, says new research from Goldman Sachs ... More >>
Rakon on track to triple capacity with Chinese facility
Wednesday, 30 March 2011, 9:58 am | BusinessDesk
March 30 (BusinessDesk) – Rakon Ltd., which manufactures crystal oscillators used in navigation systems and smart phones, is on track to triple production when its new Chinese factory comes on line in July. More >>
Stocks to watch: ABA, FPA, FBY, MET, OGC, POT, RAK, TEL
Wednesday, 30 March 2011, 9:46 am | BusinessDesk
March 29 (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 climbs to highest since Feb. 22 quake
Wednesday, 30 March 2011, 8:33 am | BusinessDesk
NZ dollar climbs to highest since Feb. 22 quake as investors seek growth-linked currencies More >>
MARKET CLOSE: NZ stocks rise; Tower leads gainers, VCT falls
Tuesday, 29 March 2011, 5:44 pm | BusinessDesk
March 29 (BusinessDesk) - New Zealand stocks rose for a 10th session, the longest run of consecutive gains since July 2009, with Tower Ltd. leading gainers as the stock recovered some of the ground lost after the Christchurch earthquake, while ... More >>
Blue Chip investors knocked back in Court of Appeal test
Tuesday, 29 March 2011, 5:17 pm | BusinessDesk
March 29 (BusinessDesk) – Five Blue Chip investors have lost a test case in the Court of Appeal seeking to quash their obligations to buy apartments in Auckland that were originally to be funded with assistance from the failed finance group. More >>
Fraser’s gold mine shows further promise for OceanaGold
Tuesday, 29 March 2011, 4:45 pm | BusinessDesk
March 29 (BusinessDesk) – OceanaGold Corp. has established the presence of further gold-bearing deposits from its latest round of surface and underground diamond drilling programmes at the Frasers underground mine in Otago. More >>
Caniwi Capital adds new partner
Tuesday, 29 March 2011, 4:45 pm | BusinessDesk
March 29 (BusinessDesk) – Wellington investment and advisory firm Caniwi Capital has added a former Lehman Brothers senior executive as an equity partner to its team. More >>
Telecom asks for break on rural broadband pricing
Tuesday, 29 March 2011, 3:05 pm | BusinessDesk
March 29 (BusinessDesk) – Telecom Corp., which is fighting to win a chunk of government funding to build a national broadband network, has asked for a break on its regulatory burden over the delivery of rural internet. More >>
NZ trade balance moves into surplus in February
Tuesday, 29 March 2011, 11:51 am | BusinessDesk
March 29 (BusinessDesk) - New Zealand moved into a trade surplus in February as higher dairy prices, a weaker currency, and greater demand from China helped exports outpace imports, ending six months of trade deficits. More >>
Tax relief for quake victims, but knotty issues remain
Tuesday, 29 March 2011, 11:36 am | BusinessDesk
March 29 (BusinessDesk) – Tax relief announced for businesses and families affected by Christchurch earthquake are welcome, but knotty issues still remain, says the New Zealand Institute of Chartered Accountants. More >>
Hellaby offers no explanation for 8.4% share price spike
Tuesday, 29 March 2011, 11:15 am | BusinessDesk
March 29 (BusinessDesk) – Hellaby Holdings, the diversified investment company, has no explanation for an 8.4% spike in its stock price after the NZX regulator issued a ‘please explain’ note. More >>
Government rethinking size of public sector, English says
Tuesday, 29 March 2011, 10:53 am | BusinessDesk
March 29 (BusinessDesk) – The government is seriously rethinking the size and scope of the public service as it looks to reduce its squeeze on cash and return to surpluses in the next five years. More >>
Ombler named interim CEO of new earthquake authority
Tuesday, 29 March 2011, 10:04 am | BusinessDesk
March 29 (BusinessDesk) – The government has named Deputy State Service’s Commissioner John Ombler as interim chief executive of the Canterbury Earthquake Recovery Authority (CERA), which will lead the efforts to rebuild the shattered region. More >>
Stocks to watch: DNZ, ECO, FBU, KMD, SPY, TEN
Tuesday, 29 March 2011, 9:44 am | BusinessDesk
March 29 (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 >>
