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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 1584]
NZ dollar gains on positive GDP; risk appetite grows
Friday, 25 March 2011, 8:37 am | BusinessDesk
March 25 (BusinessDesk) - The New Zealand dollar rose against the greenback, recovering almost all the ground it lost since the Feb. 22 earthquake, buoyed by a surge in investor appetite for higher yielding or riskier assets and positive fourth quarter ... More >>
MARKET CLOSE: NZ stocks rise; DNZ leads gainers
Thursday, 24 March 2011, 5:37 pm | BusinessDesk
March 24 (BusinessDesk) - New Zealand stocks rose for a seventh straight session, led by DNZ Property Fund Ltd. after brewer Lion Nathan agreed to remain at the company's East Tamaki property for another three years. Pumpkin Patch Ltd fell. More >>
Regulator halts Whimp’s low-ball bids with court injunction
Thursday, 24 March 2011, 3:43 pm | BusinessDesk
March 24 (BusinessDesk) – The Securities Commission has won an interim injunction preventing settlement of several low-ball bids for stock by Christchurch businessman Bernard Whimp. More >>
Forsyth Barr fined $5,000 for not following orders
Thursday, 24 March 2011, 3:16 pm | BusinessDesk
March 24 (BusinessDesk) – Brokerage Forsyth Barr Ltd. has been fined $5,000 for failing to carry out a client’s wishes. More >>
NZ dollar rises as economy dodges double dip recession
Thursday, 24 March 2011, 11:22 am | BusinessDesk
March 24 (BusinessDesk) - The New Zealand dollar rose after figures showed the economy narrowly dodged a double dip recession in the fourth quarter of last year. More >>
NZ avoids double-dip recession as manufacturing revives
Thursday, 24 March 2011, 10:54 am | BusinessDesk
March 24 (BusinessDesk) – New Zealand’s economy avoided a double-dip recession as manufacturing bounced back in the December quarter and underpinned growth. The kiwi dollar gained. More >>
Nufarm raises profit guidance as CFO resigns
Thursday, 24 March 2011, 10:39 am | BusinessDesk
March 24 (BusinessDesk) - Agricultural chemicals company Nufarm has raised its profit guidance as its chief financial officer resigned. More >>
Hallenstein profit drops 17% on competition for Glassons
Thursday, 24 March 2011, 10:30 am | BusinessDesk
March 24 (BusinessDesk) – Hallenstein Glasson Holdings posted a 17% drop in first-half profit, meeting the clothing retailer’s guidance, as ‘intense’ competition for women’s apparel forced it to cut prices to maintain sales. More >>
Stocks to watch: AIR, AIA, AMP, NZO, OGC, VCT
Thursday, 24 March 2011, 9:39 am | BusinessDesk
March 24 (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 >>
AMP settles on minimum price for Axa acquisition
Thursday, 24 March 2011, 9:24 am | BusinessDesk
March 23 (BusinessDesk) – AMP Ltd., the dual-listed wealth manager, will pay the minimum A$6.43 a share for Axa Asia Pacific Holdings. More >>
NZ dollar rises before GDP; Portugal debt concern sinks euro
Thursday, 24 March 2011, 8:34 am | BusinessDesk
March 24 (BusinessDesk) - The New Zealand dollar rose above 74 U.S. cents ahead of today’s fourth-quarter gross domestic product report, which will show whether the economy skirted recession. The kiwi climbed against the euro amid concern Portugal's ... More >>
MARKET CLOSE: NZ stocks rise, led by Wrightson
Wednesday, 23 March 2011, 5:56 pm | BusinessDesk
March 23 (BusinessDesk) - New Zealand stocks rose for a sixth session, as risk sensitive investors continuing to trickle back to the market on signs that Japan is getting its nuclear crisis under control. PGG Wrightson Ltd led gains, while Michael Hill ... More >>
Auckland city limits need to grow, draft city plan says
Wednesday, 23 March 2011, 5:27 pm | BusinessDesk
March 23 (BusinessDesk) – Auckland will need at least 330,000 new dwellings and another 780 hectares of industrial and commercial land over the next 30 years, meaning it will need to expand its city limits even if it pursues a denser population within ... More >>
Air NZ’s February passenger volume rises 6.9%
Wednesday, 23 March 2011, 5:19 pm | BusinessDesk
March 23 (BusinessDesk) - Air New Zealand Ltd. said it carried 6.9% more passengers in February than in the same month of 2010, reflecting a pick-up in volumes on domestic, trans-Tasman and Pacific flights. More >>
TVNZ profit slumps 45% on TiVo write-down
Wednesday, 23 March 2011, 3:09 pm | BusinessDesk
TVNZ profit slumps 45% on TiVo write-down March 23 (BusinessDesk) – Television New Zealand Ltd. posted a 45% slump in first-half profit after the State-owned broadcaster took a $14.8 million hit on its ill-fated TiVo investment. More >>
Fonterra posts 21% jump in 1H sales, faces margin squeeze
Wednesday, 23 March 2011, 1:19 pm | BusinessDesk
by Jonathan Underhill March 23 (BusinessDesk) – Fonterra Cooperative Group, New Zealand’s biggest business, posted a 21% jump in first-half sales as global dairy prices rose, while warning that margins are being squeezed because of increased costs ... More >>
Virgin Blue faces A$80 mln loss on fuel costs, disasters
Wednesday, 23 March 2011, 12:14 pm | BusinessDesk
March 23 (BusinessDesk) – Virgin Blue Holdings, Australia’s second biggest airline, is facing a full-year loss of up to A$80 million as it accounts for rising fuel costs and a spate of natural disasters on both sides of the Tasman. More >>
Mark Broadley named as CEO of Sealegs
Wednesday, 23 March 2011, 11:17 am | BusinessDesk
March 23 (BusinessDesk) - Amphibious boat manufacturer Sealegs Corp. has appointed Mark Broadley as chief executive. More >>
NZ workers more upbeat in March quarter, shrug off quake
Wednesday, 23 March 2011, 11:09 am | BusinessDesk
March 23 (BusinessDesk) – New Zealanders were more upbeat about the labour market, shrugging off the impact of last month’s Christchurch earthquake, according to the Westpac McDermott Mill Employment Confidence Index. More >>
NZ current account beats forecasts, foreign liabilities fall
Wednesday, 23 March 2011, 10:58 am | BusinessDesk
March 23 (BusinessDesk) – New Zealand’s annual current account deficit shrank to a lower-than-expected $4.38 billion, or 2.3% of gross domestic product, in calendar 2010, as foreign liabilities fell. More >>
