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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 1587]
Christchurch Airport rating outlook revised to negative
Thursday, 17 March 2011, 5:20 pm | BusinessDesk
March 17 (BusinessDesk) - Christchurch International Airport Ltd.’s credit rating outlook was revised to ‘negative’ by Standard & Poor’s because of uncertainty over the impact of the Feb. 22 earthquake on demand through the South Island’s ... More >>
Power unveils final leg of NZ securities law reform
Thursday, 17 March 2011, 3:49 pm | BusinessDesk
Final leg of NZ securities law reform will impose plain English, end to ambiguity, Power says More >>
NZ consumer confidence plummets after quake, Westpac says
Thursday, 17 March 2011, 2:32 pm | BusinessDesk
March 17 (BusinessDesk) - New Zealanders are more pessimistic about the economic prospects for the rest of the year in the wake of the Christchurch earthquake, according to the Westpac McDermott Miller Consumer Confidence poll. More >>
Kiwibank operating a 'high cost' model, says Cullen
Thursday, 17 March 2011, 2:17 pm | BusinessDesk
March 17 (BusinessDesk) – Kiwibank is operating a high-cost model compared with banking sector benchmarks, and will be seeking to trim fat as it anticipates slower growth for the rest of this financial year, said Michael Cullen, chairman of parent ... More >>
Quake will blow Budget deficit to 8% of GDP
Thursday, 17 March 2011, 1:08 pm | BusinessDesk
March 17 (BusinessDesk) – This year’s Budget deficit will blow out to 8% of gross domestic product – the highest in a generation – as the government spends and borrows to meet the immediate needs and reconstruction of Christchurch after the ... More >>
Orion Minerals seeks new life as equity investor in China
Thursday, 17 March 2011, 11:37 am | BusinessDesk
March 17 (BusinessDesk) – Orion Minerals Group has abandoned efforts to mine iron ore in Chile after concluding there was inadequate water in the desert region and no port facilities if it managed to dig out the ore. Its latest plan is to become ... More >>
Fletcher declares Crane takeover unconditional
Thursday, 17 March 2011, 11:24 am | BusinessDesk
March 16 (BusinessDesk) – Fletcher Building Ltd., the country’s biggest listed company, has waived a requirement to gain full control of takeover target Crane Group and declared its offer unconditional. More >>
Kathmandu beats its own first-half forecast
Thursday, 17 March 2011, 11:23 am | BusinessDesk
March 17 (BusinessDesk) - Outdoor clothing and equipment retailer Kathmandu Holdings beat its own first-half earnings forecast thanks to strong sales growth in Australia and New Zealand, particularly in December and January. More >>
NZ, Australian dollars tumble versus yen
Thursday, 17 March 2011, 11:14 am | BusinessDesk
March 17 (BusinessDesk) – The New Zealand and Australian dollars tumbled against the yen as Japan’s currency broke through key resistance levels to reach a record high against the greenback on bets the nation’s nuclear crisis will spur its citizens ... More >>
Ryman targets Waikanae for $100 mln retirement village
Thursday, 17 March 2011, 9:48 am | BusinessDesk
March 17 (BusinessDesk) – Ryman Healthcare Ltd., the retirement village operator, has targeted Waikanae on the Kapiti Coast for a $100 million investment. More >>
Stocks to watch: AIR, NZO, TEL, RBD, RYM, WEN
Thursday, 17 March 2011, 9:41 am | BusinessDesk
March 17 (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 >>
New Zealand dollar falls as Japan's nuclear crisis worsens
Thursday, 17 March 2011, 8:27 am | BusinessDesk
March 17 (BusinessDesk) - The New Zealand fell against the greenback but was relatively stable compared to other currencies with markets in full risk aversion mode as Japan's nuclear catastrophe becomes increasingly dire. More >>
Widespread says Chatham phosphate project valued at $34 mln
Wednesday, 16 March 2011, 5:59 pm | BusinessDesk
March 16 (BusinessDesk) – Would-be undersea phosphate miner Widespread Energy Ltd. has secured a valuation of $34 million on the proposed project, which could be worth as much as $400 million if successfully executed. More >>
MARKET CLOSE: NZ stocks gain led by AMP
Wednesday, 16 March 2011, 5:56 pm | BusinessDesk
MARKET CLOSE: NZ stocks rise as Japanese equities pare losses; AMP leads gains, Skellerup falls More >>
UFB legislation gives Telecom a ‘free pass’, Vector says
Wednesday, 16 March 2011, 5:28 pm | BusinessDesk
March 16 (BusinessDesk) – Legislation governing the rules of the government’s $1.35 billion roll-out of ultra-fast broadband will give Telecom Corp. a “free pass,” according to rival bidder Vector Ltd. More >>
NZ consumer confidence sinks to 2-yr low, Cantabrians gloomy
Wednesday, 16 March 2011, 4:52 pm | BusinessDesk
March 16 (BusinessDesk) – New Zealand consumer confidence extended its slide this month, with the Canterbury region showing the biggest drop-off in the wake of the earthquake. More >>
No Rugby World Cup games for Christchurch
Wednesday, 16 March 2011, 3:46 pm | BusinessDesk
March 16 (BusinessDesk) – Earthquake damage to the AMI Stadium means the Rugby World Cup games scheduled to be played in Christchurch will now be transferred to other venues, with quarter-finals going to Auckland’s Eden Park. More >>
Simon Botherway to join ANZ Wealth
Wednesday, 16 March 2011, 1:05 pm | BusinessDesk
Simon Botherway to join ANZ Wealth March 16 (BusinessDesk) – Former activist fund manager and chair of the establishment board for the new Financial Market Authority Simon Botherway will be heading back into investment management in May, when he joins ... More >>
NZ employers squeeze more out of fewer workers in 2010
Wednesday, 16 March 2011, 10:52 am | BusinessDesk
March 16 (BusinessDesk) – New Zealand employers got more out of their workers in 2010, as the labour market remained moribund in a prolonged bout of economic weakness. More >>
Stocks to watch: AIR, NZO, PGW, TEL, TUR, WBC
Wednesday, 16 March 2011, 9:34 am | BusinessDesk
March 16 (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 >>
