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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 1593]
IMF mission to assess New Zealand economy
Friday, 4 March 2011, 10:15 am | BusinessDesk
March 4 (BusinessDesk) – The International Monetary Fund is sending a mission to New Zealand to assess the state of the economy, just weeks after the devastating Christchurch earthquake. More >>
Stocks to watch: AIR, AIA, NZF, NZX, OGC, PGW
Friday, 4 March 2011, 9:41 am | BusinessDesk
March 4 (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 >>
Kiwi dollar falls to 19-year low against Aussie
Friday, 4 March 2011, 9:18 am | BusinessDesk
by Paul McBeth March 4 (BusinessDesk) – The New Zealand dollar touched a 19-year low against the Australian dollar ahead of next week’s expected interest rate cuts and an International Monetary Fund warning of lower economic growth in New Zealand. More >>
AMI Stadium will need insurer’s tick for Rugby World Cup
Thursday, 3 March 2011, 6:48 pm | BusinessDesk
March 3 (BusinessDesk) – Christchurch’s AMI Stadium will require international insurer sign-off before it can be confirmed as an official venue for the Rugby World Cup, Prime Minister John Key says. Key made the comments at a press conference marking ... More >>
MARKET CLOSE: NZ stocks rise; Fletcher advances, PGC falls
Thursday, 3 March 2011, 5:59 pm | BusinessDesk
By Jason Krupp March 3 (BusinessDesk) - New Zealand stocks rose, with Fletcher Building pacing gainers amid bets the company will see more business as a result of the second Christchurch earthquake. Pyne Gould Corp. led decliners. More >>
QV reports on Chch generated by JV with cultural comms group
Thursday, 3 March 2011, 5:10 pm | BusinessDesk
March 3 (BusinessDesk) - QV, the government property valuer, says hazard reports on Christchurch properties on its website were produced by a joint venture with Niu Pacific Ltd., a firm that specialises in 'culturally inclusive' communications. More >>
Air NZ taps KPMG chief for board; John McDonald departs
Thursday, 3 March 2011, 2:52 pm | BusinessDesk
March 3 (BusinessDesk) – Jan Dawson, the local chief executive and chairman of accounting firm KPMG, will join Air New Zealand Ltd.’s board from April. More >>
NZF Money cut deeper into junk by S&P as cash crisis looms
Thursday, 3 March 2011, 1:13 pm | BusinessDesk
March 3 (BusinessDesk) – NZF Money Ltd., the deposit taking arm of listed financial services company NZF Group, had its credit rating cut to CCC/C and put on CreditWatch Negative by Standard & Poor’s. More >>
NZ regulator widens probe into UBA data pricing
Thursday, 3 March 2011, 11:43 am | BusinessDesk
March 3 (BusinessDesk) – The Commerce Commission will add more price components of unbundled bitstream (UBA) broadband to its probe into data transmission. More >>
Zuellig admits it’s scrambling for PGG Wrightson bid
Thursday, 3 March 2011, 11:12 am | BusinessDesk
March 3 (BusinessDesk) – The Hong Kong-based, Swiss-backed potential bidder for rural services company PGG Wrightson Ltd. concedes it’s late to the table in its attempt to head off a bid for control from Chinese suitor Agria Corp. More >>
Downer completes A$200m capital raising from institutions
Thursday, 3 March 2011, 11:01 am | BusinessDesk
March 3 (BusinessDesk) - Downer EDI Ltd. has completed the institutional part of its capital raising, placing A$200 million at A$3.25 a share with eligible institutional shareholders taking up about 97% of their entitlements. More >>
Auckland February property sales rise, Barfoot sees no glut
Thursday, 3 March 2011, 10:52 am | BusinessDesk
March 3 (BusinessDesk) – The number of house sales in Auckland bounced back from January’s slump, with new listings returning to more normal levels. More >>
Stocks to watch: AMP, DEL, LPC, NZO, NZS, WDT
Thursday, 3 March 2011, 9:41 am | BusinessDesk
March 3 (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 >>
NZ dollar pares decline as ECB meeting looms
Thursday, 3 March 2011, 9:10 am | BusinessDesk
March 3 (BusinessDesk) – The New Zealand dollar pared some of yesterday’s loss when Prime Minister John Key talked up the prospect of a rate cut next week, with investors expecting the European Central Bank will take a more hawkish line on monetary ... More >>
Axa AP minority shareholders approve AMP merger
Wednesday, 2 March 2011, 7:26 pm | BusinessDesk
March 1 (BusinessDesk) - Minority shareholders in Axa Asia Pacific Holdings have overwhelmingly voted in favour of the A$13.3 billion merger with Australian wealth manager AMP Ltd. More >>
MARKET CLOSE: NZ stocks fall; AMP leads decliners
Wednesday, 2 March 2011, 6:03 pm | BusinessDesk
March 2 (BusinessDesk) - New Zealand stocks fell for the first time this week, taking their lead from global markets where ongoing political tensions in the Middle East saw investors abandon riskier positions in favour of safe haven plays. AMP Ltd. lead ... More >>
Lyttelton Port takes $22.6M hit on Sept quake, posts loss
Wednesday, 2 March 2011, 5:50 pm | BusinessDesk
March 2 (BusinessDesk) – Lyttelton Port Co. recognised a $22.6 million hit from the 7.1 magnitude September earthquake as it posted a first-half loss. More >>
Christchurch quake trips up $184M nationwide hotel buy-up
Wednesday, 2 March 2011, 5:05 pm | BusinessDesk
March 2 (BusinessDesk) – Global hotelier Host Hotels & Resorts LP has walked into some early problems in the $184 million buy-up of seven hotels in New Zealand, with two properties caught in last week’s Christchurch earthquake. More >>
NZ dollar tumbles after PM John Key says he anticipates rate
Wednesday, 2 March 2011, 4:30 pm | BusinessDesk
March 2 (BusinessDesk) – The New Zealand dollar slumped 1.1% after Prime Minister John Key said he’s expecting a rate cut from the Reserve Bank next week, and would welcome such a move. More >>
UK policy review puts acid in Windflow to achieve sales
Wednesday, 2 March 2011, 12:49 pm | BusinessDesk
March 2 (BusinessDesk) – Two-blade wind turbine pioneer Windflow Technology Ltd. is under increasing pressure to sign up British buyers for its Windflow 500 turbines as the U.K. government announces an early review of the subsidy that underpins their ... More >>
