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 1598]
Disruptions to trigger Solid Energy force majeure notices
Wednesday, 23 February 2011, 5:07 pm | BusinessDesk
Feb. 23 (BusinessDesk) – State-owned coal miner Solid Energy Ltd. expects to issue force majeure notices to customers whose coal shipments are delayed as a result of the Christchurch earthquake. More >>
Opus International boosts profit 18%
Wednesday, 23 February 2011, 4:40 pm | BusinessDesk
by Paul McBeth Feb. 23 (BusinessDesk) – Opus International Consultants Ltd., the NZX-listed engineering firm, lifted its 2010 profit by 18% as the company took advantage of increased government infrastructure spending in several of the countries where ... More >>
Broken Hill looks to double its NSW cobalt resource
Wednesday, 23 February 2011, 3:14 pm | BusinessDesk
Feb. 23 (BusinessDesk) – Newly dual-listed cobalt miner Broken Hill Prospecting Ltd. is seeking to double its inferred cobalt resource in outback New South Wales to 30 million tonnes with a newly approved drilling programme. More >>
Cotterill quits Yellow Pages after debt restructure
Wednesday, 23 February 2011, 2:25 pm | BusinessDesk
by Paul McBeth Feb. 23 (BusinessDesk) – Bruce Cotterill has stepped down as chief executive of Yellow Pages Group having completed a massive restructure and following the directory business’s bankers seizing control last month. More >>
Quake creates pricing headache for Meridian Energy
Wednesday, 23 February 2011, 12:35 pm | BusinessDesk
Feb. 23 (BusinessDesk) – Meridian Energy Ltd. says it will have to look deeply at the impact of the Christchurch earthquake before it considers lifting a two-year-old freeze on electricity tariffs. More >>
IAG faces A$40 mln bill on Christchurch earthquake
Wednesday, 23 February 2011, 12:29 pm | BusinessDesk
Feb. 23 (BusinessDesk) – Insurance Australia Group, the ASX-listed insurer that owns State Insurance and NZI, says the latest earthquake in Christchurch will cost it up to A$40 million. More >>
Hallenstein CEO Stephen Timms resigns
Wednesday, 23 February 2011, 11:52 am | BusinessDesk
Feb. 23 (BusinessDesk) - Stephen Timms, chief executive of clothing retailer Hallenstein Glasson Holdings, has resigned, saying he wants to move back to Australia for family reasons. More >>
Quake stops KiwiRail services to Christchurch, Lyttelton
Wednesday, 23 February 2011, 11:31 am | BusinessDesk
Feb. 23 (BusinessDesk) – KiwiRail, the national rail operator, has halted services in and out of Christchurch, including the route through to Lyttelton Port in the wake of the 6.3 magnitude earthquake yesterday. More >>
NZ Oil & Gas posts first-half loss of $99 mln on Pike charge
Wednesday, 23 February 2011, 11:11 am | BusinessDesk
Feb. 23 (BusinessDesk) - New Zealand Oil & Gas Ltd. posted a first-half loss after impairments from the failed Pike River Coal Ltd. overshadowed growth in overall revenue. The shares fell 1.2%. More >>
Listed coys report minor Christchurch damage; no PGC update
Wednesday, 23 February 2011, 11:04 am | BusinessDesk
Feb. 23 (BusinessDesk) - A number of listed companies are reporting relatively minor damage to their Christchurch operations but there has been no update from Pyne Gould Corp. which leased the collapsed PGC house at 233 Cambridge Terrace. More >>
Delegat’s cuts full-year guidance on glut
Wednesday, 23 February 2011, 10:42 am | BusinessDesk
Feb. 23 (BusinessDesk) – Delegat’s Group, the wine-maker that bought out smaller shareholders in contract grower Oyster Bay Marlborough Vineyards Ltd., cut its full-year profit forecast, citing sluggish global markets and an over-supply of grapes. The ... More >>
Charlie’s first-half profit jumps 56% on Coles rollout
Wednesday, 23 February 2011, 10:27 am | BusinessDesk
Feb. 23 (BusinessDesk) - Charlie's Group Ltd. posted a 56% jump in first-half profit, driven by a surge of sale in Australian, where the juice maker’s products are sold through the Coles supermarket chain. More >>
Nuplex to pay $3 mln to shareholders over disclosure breach
Wednesday, 23 February 2011, 9:56 am | BusinessDesk
Feb. 23 (BusinessDesk) – Nuplex Industries Ltd. will pay $3 million to shareholders as part of a settlement with the Securities Commission after failing to disclose it breached a debt covenant in 2008. More >>
Stocks to watch: DIL, FBU, LPC, NPX, PPG, PGC, SKC, TWR
Wednesday, 23 February 2011, 9:40 am | BusinessDesk
Feb. 23 (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 sinks on Christchurch quake, Libyan unrest
Wednesday, 23 February 2011, 9:12 am | BusinessDesk
Feb. 23 (BusinessDesk) – The New Zealand dollar fell to a two-month low as the market pushed out its expectations for interest rate hikes after yesterday’s 6.3 magnitude earthquake in Christchurch, while global investors eschewed riskier assets ... More >>
Moody's sees 'anaemic' NZ growth after Christchurch quake
Tuesday, 22 February 2011, 10:42 pm | BusinessDesk
Moody's sees 'anaemic' NZ growth after Christchurch quake; kiwi sinks to 2-month low More >>
NZ Govt opens chequebook for earthquake relief
Tuesday, 22 February 2011, 10:08 pm | BusinessDesk
Feb. 22 (BusinessDesk) – Finance Minister Bill English has signed a special order allowing government departments to ensure money is no object in the early phases of dealing with the second major earthquake in Christchuch within five months. More >>
NZ government opens chequebook for earthquake relief
Tuesday, 22 February 2011, 10:08 pm | BusinessDesk
Feb. 22 (BusinessDesk) – Finance Minister Bill English has signed a special order allowing government departments to ensure money is no object in the early phases of dealing with the catastrophic earthquake in Christchuch. More >>
Fletcher reports widespread quake damage in Christchurch
Tuesday, 22 February 2011, 6:23 pm | BusinessDesk
Feb. 22 (BusinessDesk) - Fletcher Building Ltd., the country’s biggest construction firm, said several of its businesses in the Christchurch region had suffered damage as a result of the of 6.3 magnitude earthquake which struck the city just after midday ... More >>
NZ T-bills sell at lower yield, quake pushes out OCR hike
Tuesday, 22 February 2011, 6:19 pm | BusinessDesk
Feb. 22 (BusinessDesk) – The Debt Management Office sold its shorter-dated debt at lower interest rates in today’s auction after the 6.3 magnitude Christchurch earthquake sapped expectations of a rate hike this year. More >>
