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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 1589]
NZ dollar outlook: Kiwi may fall in wake of Japanese quake
Monday, 14 March 2011, 2:21 pm | BusinessDesk
March 14 (BusinessDesk) - The New Zealand dollar will probably decline this week, with little domestic data to stop it falling victim to rising risk aversion in the wake of the 9.0 magnitude earthquake and tsunami which struck Japan on Friday. More >>
NZ house sales still subdued in February, selling times rise
Monday, 14 March 2011, 11:35 am | BusinessDesk
March 14 (BusinessDesk) – New Zealand house sales continued their subdued streak last month, with transactions taking almost two months to complete. More >>
Solid Energy flays Pike River’s readiness to mine
Monday, 14 March 2011, 11:30 am | BusinessDesk
March 14 (BusinessDesk) – Government-owned coal miner Solid Energy says it doesn’t believe there was enough drilling done to understand the Pike River coal resource before construction of the ill-fated underground mine that killed 29 miners last ... More >>
WEEKLY SPORTS DIGEST: Black Caps punish Canada
Monday, 14 March 2011, 11:16 am | BusinessDesk
14/03/11 Executive sport summary – An overview of the major sporting events – Results, key moments and talking points – Everything you need to know to foot it at the water cooler this week. More >>
Stocks to watch: FRE, LPC, NZO, PPL, TWR, WSI
Monday, 14 March 2011, 9:30 am | BusinessDesk
March 14 (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 >>
World Week Ahead: Bull market intact?
Monday, 14 March 2011, 8:41 am | BusinessDesk
March 14 (BusinessDesk) - It’s hard to find positives when the news from Japan is so dark at the moment. More >>
NZ dollar edges up vs. greenback after Japan quake, tsunamis
Monday, 14 March 2011, 8:37 am | BusinessDesk
March 14 (BusinessDesk) - The New Zealand dollar edged up against the greenback, with traders weighing the potential for risk aversion to flare in the wake of Japan's 8.9 magnitude earthquake and tsunami waves. More >>
MARKET CLOSE: NZ stocks join global decline; Tower falls
Friday, 11 March 2011, 5:53 pm | BusinessDesk
March 11 (BusinessDesk) - New Zealand stocks fell, following global markets lower amid resurgent European sovereign debt fears after two euro zone members had their debt ratings cut this week. Tower Ltd. led decliners after saying it will incur up ... More >>
Two Degrees shareholders stump up more funds
Friday, 11 March 2011, 5:18 pm | BusinessDesk
March 11 (BusinessDesk) – Two Degrees Mobile Ltd., the latest entrant to the nation’s mobile phone market, has turned to its shareholders for more funds, and asked them to stump up more for less. More >>
Tower shares drop as quake pushes annual costs to $15M-$20M
Friday, 11 March 2011, 4:51 pm | BusinessDesk
March 11 (BusinessDesk) – Shares of Tower Ltd. dropped 5.2% after the insurer controlled by Guinness Peat Group said expenses this year will be swelled by reinsurance and other costs related to the Christchurch earthquake. More >>
Ports of Auckland posts little-changed 1H profit
Friday, 11 March 2011, 4:08 pm | BusinessDesk
March 11 (BusinessDesk) - Ports of Auckland posted little-changed first-half profit and said given ‘challenging’ conditions, import volumes probably won’t grow until later in calendar 2011. More >>
Fijian regime turns to junk bond market to refinance debt
Friday, 11 March 2011, 4:07 pm | BusinessDesk
March 11 (BusinessDesk) – Fiji’s military regime has turned to the junk bond market to refinancing existing debt and gain working capital this year. More >>
NZ food prices rise 0.1% in February; grocery costs gain
Friday, 11 March 2011, 11:37 am | BusinessDesk
March 11 (BusinessDesk) - New Zealand food prices edged up in February after climbing almost 2% in the previous month, as declines in fruit and vegetable prices offset the higher costs of grocery food and non-alcoholic drinks. More >>
Chris Liddell quits at GM, prompts Fonterra speculation
Friday, 11 March 2011, 10:39 am | BusinessDesk
March 11 (BusinessDesk) – High-flying expatriate Kiwi Chris Liddell has surprised Wall Street by announcing his resignation as chief financial officer at American auto giant, General Motors Co., raising speculation that the timing would allow him ... More >>
Freightways faces $1.5 mln hit on Christchurch earthquake
Friday, 11 March 2011, 10:16 am | BusinessDesk
March 11 (BusinessDesk) – Freightways Ltd., the transport and logistics company, says operating earnings will be reduced by about $1.5 million as a result of disruptions from the Christchurch earthquake. More >>
Stocks to watch: AIR, ALF, BRG, DGL, FBU, NZR, PGB, PPL, WHS
Friday, 11 March 2011, 9:42 am | BusinessDesk
March 11 (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 >>
Warehouse first-half profit drops 8.9% on Red Sheds margin
Friday, 11 March 2011, 9:34 am | BusinessDesk
March 11 (BusinessDesk) – Warehouse Group, New Zealand’s biggest listed retailer, reported an 8.9% drop in first-half profit as the tough retail environment squeezed margins at its Red Sheds. More >>
S&P gives Genesis Energy a serve over 'opaque' strategy
Thursday, 10 March 2011, 7:06 pm | BusinessDesk
March 10 (BusinessDesk) – Genesis Energy Ltd. has been placed on negative credit watch by ratings company Standard & Poor's for having an “opaque” approach to financial risk appetite, no clear direction on how it will fund acquisitions and ... More >>
Commerce Commission wins appeal to gag witnesses
Thursday, 10 March 2011, 6:51 pm | BusinessDesk
March 10 (BusinessDesk) - The Commerce Commission has won the right to keep a powerful tool at its disposal after being cleared to appeal a High Court ruling that stripped its ability to gag potential witnesses. More >>
MARKET CLOSE: NZ stock fall; Pumpkin Patch leads decliners
Thursday, 10 March 2011, 6:01 pm | BusinessDesk
March 10 (BusinessDesk) - New Zealand stocks fell, as risk aversion in global equity markets took away from the positive tone set by the Reserve Bank's interest rate cut. Pumpkin Patch Ltd. led decliners after government data showed consumers were ... More >>
