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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 1591]
NZ dollar holds above 74 US cts as Euro debt weighs
Wednesday, 9 March 2011, 8:35 am | BusinessDesk
NZ dollar holds above 74 US cts on fresh European sovereign debt concerns, RBNZ looms More >>
MARKET CLOSE: New Zealand stocks fall; RBD leads decline
Tuesday, 8 March 2011, 5:52 pm | BusinessDesk
March 8 (BusinessDesk) - New Zealand stocks fell, with Restaurant Brands NZ Ltd. leading decliners after posting softer fourth-quarter sales, while Mainfreight Ltd. rose for a second day as investors continued to react favourably to its expansion ... More >>
Allied Farmers wins claim against property developer Gapes
Tuesday, 8 March 2011, 4:29 pm | BusinessDesk
March 8 (BusinessDesk) – Allied Famers Ltd., the embattled owner of the Hanover and United Finance loan books, has won a summary judgement against property developer Tony Gapes. More >>
Hubbard fund investors face ‘considerable loss’
Tuesday, 8 March 2011, 2:36 pm | BusinessDesk
March 8 (BusinessDesk) – Investors in Hubbard Management Funds, one of Timaru business Allan Hubbard’s firms under government-mandated management, face a “considerable loss” and won’t receive any payout until next year at the earlier. More >>
NZ jobs, wage strength offset tax impact of consumer caution
Tuesday, 8 March 2011, 1:20 pm | BusinessDesk
March 8 (BusinessDesk) – Tax receipts from wage and salary earners are consistently higher than the Treasury expected after last October’s tax cuts, with a relatively resilient labour market apparently offsetting cautious consumer spending which has ... More >>
NZ property values resume slide in February: QV
Tuesday, 8 March 2011, 1:16 pm | BusinessDesk
Feb. 8 (BusinessDesk) - Residential property values in New Zealand resumed their slide in February, having stabilised in January after nine-months of decline, according to government valuer Quotable Value Ltd. More >>
Rate cut not justified, says HSBC; cut away, says Moody’s
Tuesday, 8 March 2011, 12:53 pm | BusinessDesk
March 8 (BusinessDesk) – The Reserve Bank of New Zealand cannot justify cutting interest rates in this Thursday’s monetary policy statement, as inflation is already too high and the Christchurch earthquake rebuild will stoke it further once it gets ... More >>
Top spook Mataparae appointed Governor-General
Tuesday, 8 March 2011, 12:46 pm | BusinessDesk
March 8 (BusinessDesk) – Lieutenant General Jerry Mataparae will be the next Governor General of New Zealand after receiving the Queen’s approval for his appointment. More >>
NZ home building continues decline in 4Q
Tuesday, 8 March 2011, 11:41 am | BusinessDesk
March 8 (BusinessDesk) - The value of new home building slipped further in the December quarter as New Zealand households continued to focus on repaying debts, while non-residential building projects surged. More >>
Briscoe beats forecasts with 2.8% profit lift
Tuesday, 8 March 2011, 11:29 am | BusinessDesk
March 8 (BusinessDesk) – Briscoe Group, the homeware and sporting goods retailer, lifted full-year profit 2.8% as it ramped up its aggressive promotions to woo consumers in a subdued environment. More >>
UK’s Aggreko buys generator supplier for $27.5M, eyes RWC
Tuesday, 8 March 2011, 10:48 am | BusinessDesk
March 8 (BusinessDesk) – Aggreko Plc., a London Stock Exchange-listed rental equipment company, will pay $27.5 million for a New Zealand company that hires out portable generators. Glasgow-based Aggreko will become the dominant supplier of portable power ... More >>
Restaurant Brands 4Q sales fall 1.8% as KFC growth slows
Tuesday, 8 March 2011, 10:14 am | BusinessDesk
March 8 (BusinessDesk) – Restaurant Brands NZ Ltd., the fast food franchise operator, reported a 1.8% decline in fourth-quarter sales as revenue growth slowed at its KFC fried chicken outlets. The shares fell 2.5% to $2.35. More >>
Stocks to watch: AIR, AMP, AIA, HBY, KMD, MFT, TEL, VCT
Tuesday, 8 March 2011, 9:39 am | BusinessDesk
March 8 (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 >>
Central Fibre Consortium joins priority list for UFB
Tuesday, 8 March 2011, 9:16 am | BusinessDesk
March 8 (BusinessDesk) – Telecom Corp.’s grip on winning the biggest slice of the government’s $1.35 billion high-speed internet fund has loosened with the Central Fibre Consortium (CFC) joining the priority bidders list. More >>
NZ dollar falls as Moody's downgrades Greece’s credit rating
Tuesday, 8 March 2011, 8:28 am | BusinessDesk
March 8 (BusinessDesk) - The New Zealand dollar fell as investor appetite for riskier, or higher yielding, assets declined amid a downgrade of Greece's debt rating, ongoing oil price volatility and the looming interest rate announcement on Thursday More >>
Oil stockpiles could stop spiralling fuel prices: analyst
Monday, 7 March 2011, 6:17 pm | BusinessDesk
March 7 (BusinessDesk) – Global stockpiles of crude oil should be tapped immediately to stop the upward spiral in fuel prices, but the oil industry doesn’t want it to happen, says an international energy industry analyst visiting Wellington this ... More >>
NZX war chest to swell to $76M by 2013, may return capital
Monday, 7 March 2011, 6:12 pm | BusinessDesk
March 7 (BusinessDesk) – NZX Ltd., the stock exchange operator, expects to build a war chest of up to $76 million by the end of 2013 and would return funds to shareholders if it finds nothing suitable to buy. The Wellington-based company forecast its cash ... More >>
MARKET CLOSE: NZX 50 rises to new 2 ½-year high, led by MFT
Monday, 7 March 2011, 6:04 pm | BusinessDesk
March 7 (BusinessDesk) - New Zealand stocks rose, pushing the NZX 50 Index to a new 2 ½-year high, as the weaker kiwi dollar helped spur international appetite for local equities. Mainfreight Ltd. led gainers after it announced its expansion into ... More >>
Government mulls buying land for housing in Christchurch
Monday, 7 March 2011, 5:52 pm | BusinessDesk
March 7 (BusinessDesk) – The Government is mulling whether to buy land in existing Christchurch sub-divisions to offer to people whose homes are on land no longer suitable for housing after the Feb. 22 earthquake. More >>
Solution Dynamics to tap shareholders after covenant breach
Monday, 7 March 2011, 5:06 pm | BusinessDesk
March 7 (BusinessDesk) – Solution Dynamics Ltd., the NZAX-listed software company, plans to raise funds in a discounted rights offer after breaching a bank covenant. More >>
