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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 1590]
Allied Nationwide loan books put on the block
Thursday, 10 March 2011, 5:17 pm | BusinessDesk
March 10 (BusinessDesk) – The receivers of Allied Nationwide Finance Ltd., the failed finance arm of Allied Farmers Ltd., have put the firm’s loan books up for sale. More >>
NZ Refining beats forecast for full-year margin
Thursday, 10 March 2011, 4:39 pm | BusinessDesk
March 10 (BusinessDesk) – New Zealand Refining Ltd., the nation's only oil refinery, said refining margins averaged US$6.17 a barrel in the year ended Dec. 31, ahead of a projected $6.06 per barrel. More >>
NZ may have been in recession before the quake, Bollard says
Thursday, 10 March 2011, 3:36 pm | BusinessDesk
March 10 (BusinessDesk) – New Zealand’s economy may have already been in recession before last month’s quake and may face a third quarterly contraction as it deals with a $15 billion bill that’s dented already-fragile business confidence. More >>
Bollard, English consulted on quake recovery before rate cut
Thursday, 10 March 2011, 1:05 pm | BusinessDesk
March 10 (BusinessDesk) – Reserve Bank Governor Alan Bollard and Finance Minister Bill English coordinated their efforts to stem the impact of last month’s 6.3 magnitude earthquake, which will cost the country as much as $15 billion. More >>
UPDATED: Bollard trades off inflation threat with quake-aid
Thursday, 10 March 2011, 10:39 am | BusinessDesk
March 10 (BusinessDesk) – Reserve Bank Governor Alan Bollard traded off the threat of resurgent medium-term inflation to slash interest rates, underpinning an economy reeling from the impact of the Christchurch earthquake. More >>
NZ dollar dips after Bollard slashes benchmark interest rate
Thursday, 10 March 2011, 10:21 am | BusinessDesk
March 10 (BusinessDesk) - The New Zealand dollar fell after the Reserve Bank slashed the official cash rate to 2.5% to underpin an economy reeling from the impact of the Christchurch earthquake. More >>
Methven promoted to NZX 50 as Abano departs
Thursday, 10 March 2011, 9:52 am | BusinessDesk
March 10 (BusinessDesk) – Methven Ltd., the tapware manufacturer, will be added to the NZX 50 Index this month following market operator NZX Ltd.’s latest quarterly review of its indexes. More >>
Stocks to watch: FBU, MVN, NZO, NZX, RIS, TEL
Thursday, 10 March 2011, 9:34 am | BusinessDesk
March 10 (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 >>
Earthquake creates counter-cyclical “perfect storm”
Thursday, 10 March 2011, 9:26 am | BusinessDesk
March 10 (BusinessDesk) – Reading today’s Monetary Policy Statement from the Reserve Bank of New Zealand produces an odd mixture of conflicting emotions. More >>
Bollard cuts OCR to 2.5% in hedge against Christchurch quake
Thursday, 10 March 2011, 9:07 am | BusinessDesk
March 10 (BusinessDesk) – Reserve Bank Governor Alan Bollard cut the official cash rate half a percentage point to 2.5% in what he termed an “insurance measure” to stave off a severe downturn in the wake of the 6.3 magnitude Christchurch earthquake. More >>
NZ dollar holds below 74 U.S cents ahead of OCR announcement
Thursday, 10 March 2011, 8:34 am | BusinessDesk
March 10 (BusinessDesk) - The New Zealand dollar held below the 74 U.S. cents ahead of today's official cash rate announcement, with little movement in major currencies to give direction to the kiwi. More >>
Saxmere loses final appeal in case over Wool Board assets
Wednesday, 9 March 2011, 6:27 pm | BusinessDesk
March 9 (BusinessDesk) – Wool company Saxmere Ltd. has lost its final appeal in a long-running case over New Zealand Wool Board assets that saw the departure of Supreme Court judge Bill Wilson after accusations of an undeclared conflict of interest. More >>
MARKET CLOSE: NZ stocks fall; Freightways leads decliners
Wednesday, 9 March 2011, 5:54 pm | BusinessDesk
March 9 (BusinessDesk) - New Zealand stocks fell, led by Freightways Ltd. after the company went ex-dividend today. NZX Ltd. rose after saying it will return capital to shareholders in the next few years if it can't find targets for its war chest. More >>
NZX's Weldon to take 4-6 weeks leave to head quake appeal
Wednesday, 9 March 2011, 3:35 pm | BusinessDesk
March 9 (BusinessDesk) – Mark Weldon will take four-to-six weeks leave from his job as chief executive of NZX Ltd. to head up the government’s Christchurch Earthquake Appeal. More >>
Hubbard injection may see Aorangi investors get their money
Wednesday, 9 March 2011, 2:14 pm | BusinessDesk
by Paul McBeth March 9 (BusinessDesk) – Embattled Timaru businessman Allan Hubbard will pump assets worth as much as $60 million into Aorangi Securities Ltd. in a bid to return investors’ cash to them, say company’s statutory managers. More >>
Fonterra opens online milk powder trading platform to rivals
Wednesday, 9 March 2011, 1:01 pm | BusinessDesk
March 9 (BusinessDesk) – Fonterra Cooperative Group, the world’s largest export of dairy products, will open its online milk powder trading platform to rivals. More >>
January tourism numbers boosted by Australians, Chinese
Wednesday, 9 March 2011, 11:56 am | BusinessDesk
March 9 (BusinessDesk) - New Zealand's tourist numbers continued to grow in January, with more Chinese and Australian visitors touching down in Aotearoa, suggesting the country's tourism trade was normalising before the latest Christchurch earthquake. More >>
A ray of amber light for Christchurch
Wednesday, 9 March 2011, 10:36 am | BusinessDesk
March 9 (BusinessDesk) – Its iconic buildings may be in ruins, its central business district shut for the foreseeable future, and its residents still in shock, but there is one small ray of amber light for Christchurch: its craft breweries are largely ... More >>
NZ Windfarms flags full-year loss
Wednesday, 9 March 2011, 10:01 am | BusinessDesk
March 9 (BusinessDesk) – NZ Windfarms Ltd. has downgraded its full-year guidance and expects to make a loss as construction delays and low wholesale prices sap revenue streams from its Manawatu development. More >>
Stocks to watch: ALF, BRG, DIL, IFT, NWF, RBD
Wednesday, 9 March 2011, 9:34 am | BusinessDesk
March 9 (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 >>
