Scoop has an Ethical Paywall
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 1594]
Committee clamps down on low-ball stock offers
Wednesday, 2 March 2011, 12:47 pm | BusinessDesk
March 2 (BusinessDesk) – The new Financial Markets Authority will have the power to clamp down on low-ball stock offers the likes of which are used by Christchurch businessman Bernard Whimp. More >>
Simon Power to retire from politics at November election
Wednesday, 2 March 2011, 11:17 am | BusinessDesk
March 2 (BusinessDesk) - Prime Minister John Key will lose a key member of his cabinet after Simon Power, the MP for Rangitikei and fourth-ranked minister in the National-led government, announced he will be retiring from politics at the November election. More >>
Stocks to watch: ALF, AMP, ANZ, CEN, NZO, PPL
Wednesday, 2 March 2011, 9:42 am | BusinessDesk
March 2 (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 treading water until OCR review
Wednesday, 2 March 2011, 9:09 am | BusinessDesk
by Paul McBeth March 2 (BusinessDesk) – The New Zealand dollar will probably hold around 75 U.S. cents until next Thursday as traders wait for the Reserve Bank to say whether it will cut the official cash rate in response to last week’s fatal ... More >>
Milk powder prices rise 5.9% to 3-year high in Fonterra sale
Wednesday, 2 March 2011, 7:42 am | BusinessDesk
March 2 (BusinessDesk) – The price of milk powder rose to the highest level in three years in Fonterra Cooperative Group’s latest online auction, bearing out the dairy exporter’s decision to raise its forecast payout to farmers last month. More >>
WEEKLY SPORTS DIGEST: Christchurch weighs damage
Tuesday, 1 March 2011, 6:02 pm | BusinessDesk
28/02/11 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 >>
MARKET CLOSE: NZ stock rise; NZX leads gains for second day
Tuesday, 1 March 2011, 5:54 pm | BusinessDesk
March 1 (BusinessDesk) - New Zealand stocks rose for a second session, with NZX Ltd. leading gainers after it yesterday posted a 19% increase in full-year pretax earnings. Pumpkin Patch Ltd. fell after first-half profits almost halved. More >>
Genesis delays capital bond offer
Tuesday, 1 March 2011, 5:28 pm | BusinessDesk
March 1 (BusinessDesk) – Genesis Energy Ltd. has delayed the process for its proposed capital bonds offer, which was to have opened last month. More >>
Allied Farmers loss widens as lender burns cash
Tuesday, 1 March 2011, 5:02 pm | BusinessDesk
March 1 (BusinessDesk) – Allied Farmers Ltd., which unsuccessfully tried to transform itself into a major lender by buying the Hanover Finance and United Finance loan books, widened its first-half loss as it burned through more cash to repay debt. More >>
KiwiRail depreciation charge wipes out 1H operating profit
Tuesday, 1 March 2011, 4:29 pm | BusinessDesk
March 1 (BusinessDesk) – KiwiRail posted a first-half loss after accounting for depreciation, erasing the benefits of a jump in operating profit on the back of higher sales. More >>
Christchurch retailers slowly recover: Paymark
Tuesday, 1 March 2011, 3:58 pm | BusinessDesk
March 1 (BusinessDesk) – Christchurch retailers are slowly returning to business, according to figures on electronic transactions made through the Paymark network. More >>
NZ commodity prices hit new record in sixth straight gain
Tuesday, 1 March 2011, 3:47 pm | BusinessDesk
March 1 (BusinessDesk) – Prices for New Zealand-produced raw materials extended their gains for a sixth month, hitting a new record, according to the ANZ Commodity Price Index. More >>
Spending cuts key to paying for earthquake, English says
Tuesday, 1 March 2011, 3:26 pm | BusinessDesk
March 1 (BusinessDesk) – The government will prioritise its spending on rebuilding Christchurch as the country’s second-biggest city reels from last week’s 6.3 magnitude earthquake. More >>
Pumpkin Patch posts 44% drop in 1H profit as sales fall
Tuesday, 1 March 2011, 11:45 am | BusinessDesk
March 1 (BusinessDesk) – Pumpkin Patch Ltd., the children’s clothing chain, posted a 44% drop in first-half profit, to within the range flagged in January, as tough trading conditions in Australia and New Zealand eroded sales at stores with high ... More >>
Kordia posts first-half loss on early digital switchover
Tuesday, 1 March 2011, 11:40 am | BusinessDesk
March 1 (BusinessDesk) - Kordia Group, the state-owned telecommunications and media company, says the decision to bring forward the switchover to digital television transmission to 2012 is behind a first-half loss. More >>
Landcorp returns to first-half profit on dairy boom
Tuesday, 1 March 2011, 11:06 am | BusinessDesk
March 1 (BusinessDesk) – Landcorp Farming Ltd., the country’s biggest farmer, turned to a first-half trading profit from a year-earlier loss as it rode the surge in dairy prices over the latter half of 2010. More >>
Mighty River lifts earnings outlook on strong first half
Tuesday, 1 March 2011, 11:06 am | BusinessDesk
March 1 (BusinessDesk) – State-owned electricity company Mighty River Power Ltd. is lifting its pre-tax earnings forecast by up to 7.5% as it sees the benefits of $1 billion invested in new geothermal power stations. More >>
Speirs posts smaller 1H loss on year-earlier impairments
Tuesday, 1 March 2011, 10:47 am | BusinessDesk
March 1 (BusinessDesk) - Speirs Group Ltd., the food technology company, posted a smaller first-half loss even as revenue fell, reflecting impairment charges against a British joint venture in the year-earlier period. More >>
Kea seeking new rig, smarts over Kahili loss
Tuesday, 1 March 2011, 10:23 am | BusinessDesk
March 1 (BusinessDesk) – Oil and gas explorer Kea Petroleum Plc is gearing up for a series of new exploration wells testing Taranaki Basin onshore and offshore prospects, but is hampered by lack of equipment for both exploration and its planned Wingrove ... More >>
NZ PMI, PSI surveys cancelled for February after quake
Tuesday, 1 March 2011, 10:01 am | BusinessDesk
March 1 (BusinessDesk) – The BNZ-BusinessNZ manufacturing and services surveys have been cancelled for February because of the Christchurch earthquake. More >>
