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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 1600]
WSI says competition will fall if Cavalier buys scour assets
Tuesday, 22 February 2011, 9:23 am | BusinessDesk
Feb. 22 (BusinessDesk) - New Zealand Wool Services International, the wool exporter and scourer, has called into question claims by Cavalier Wool Holdings’ that it is looking to secure a monopoly over the country's $60 million wool scouring industry ... More >>
NZ housing confidence remains stable but at weak levels
Tuesday, 22 February 2011, 9:15 am | BusinessDesk
Feb. 22 (BusinessDesk) - New Zealand housing confidence remained stable but at weak levels in the three months through January, as price improvements in Auckland and the South Island were offset by declines in the rest of the North Island. More >>
NZ dollar shrugs off Libyan unrest ahead of Fonterra meeting
Tuesday, 22 February 2011, 9:09 am | BusinessDesk
Feb. 22 (BusinessDesk) – The New Zealand dollar held its ground, as other high-yielding currencies were sold off amid the growing political unrest in Libya, as investors anticipate a hike in the forecast pay-out to local dairy farmers. More >>
BNZ 1Q profit tumbles 45% as tax bill returns to normal
Monday, 21 February 2011, 6:38 pm | BusinessDesk
Feb. 21 (BusinessDesk) – Bank of New Zealand, the local unit of National Australia Bank Ltd., reported a 45% slump in first-quarter earnings as the lender’s tax bill returned to normal after the structured finance case in 2009. More >>
MARKET CLOSE: NZ stocks fall; Wrightson drops, CAV gains
Monday, 21 February 2011, 5:52 pm | BusinessDesk
Feb. 21 (BusinessDesk) - New Zealand shares fell, retreating from a 2 1/2-month high with PGG Wrightson Ltd. leading decliners after a potential bidder for the company shelved its takeover plans. Cavalier Corp. rose after first-half profits beat market ... More >>
Bathurst signals new cargoes for Westport & New Plymouth
Monday, 21 February 2011, 5:28 pm | BusinessDesk
Feb. 21 (BusinessDesk) – One of the South Island’s smallest ports, at Westport, is looking forward to a huge boost in cargo with the signing of a heads of agreement to ship high-grade coking coal from new open-cast mines being developed in the area ... More >>
NZ Dollar Outlook: Kiwi may gain on global food inflation
Monday, 21 February 2011, 3:53 pm | BusinessDesk
Feb. 21 (BusinessDesk) – The New Zealand dollar may bounce from the bottom of its recent range this week as persistent food inflation underpins demand for commodity-sensitive currencies. More >>
NZ Dollar Outlook: Kiwi's outlook tied to Fed's QE2, US data
Monday, 21 February 2011, 2:13 pm | BusinessDesk
Nov. 1 (BusinessDesk) – The New Zealand dollar faces a volatile week, though the market is divided on which was it will move ahead of the Federal Reserve’s second round of printing money in a bid to revive a sagging recovery. More >>
China threat driving Cavalier Wool’s push for scour assets
Monday, 21 February 2011, 2:03 pm | BusinessDesk
The threat of Chinese wool scourers snapping up more local business is the driving force behind Cavalier Wool Holdings’ bid to secure a monopoly over New Zealand’s $60 million wool scouring industry. More >>
Air NZ's Virgin stake falls foul of foreign ownership rules
Monday, 21 February 2011, 1:36 pm | BusinessDesk
Feb. 21 (BusinessDesk) - Air New Zealand Ltd. will have to dump a small portion of its stake in Virgin Blue Holdings Ltd. after an independent report found the airline's shareholding breached Australia's foreign ownership rules. More >>
Property for Industry earnings buoyed by tax benefit, rents
Monday, 21 February 2011, 11:10 am | BusinessDesk
By Jason Krupp Feb. 21 (BusinessDesk) - Property for Industry Ltd., the specialist industrial property investor managed by AMP Capital Investors, reported a 14% jump in profit, reflecting lower tax costs and well higher rentals. More >>
NZ services sector post milder growth in January
Monday, 21 February 2011, 11:02 am | BusinessDesk
Feb. 21 (BusinessDesk) - New Zealand's services sector, which makes up about 70% of New Zealand's economy, expanded at a slower pace in January, with hiring at its weakest since August 2009 even while new orders climbed. More >>
Cavalier first-half profit jumps 22% on Australian growth
Monday, 21 February 2011, 10:36 am | BusinessDesk
Cavalier posts 22% jump in first-half profit on Australian growth, affirms full-year guidance More >>
Stocks to watch: AIA, CCC, FBU, LME, OGC, PGW, PPG, SKC
Monday, 21 February 2011, 9:46 am | BusinessDesk
Feb. 21 (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 >>
Agria in box-seat for PGG Wrightson as second party quits
Monday, 21 February 2011, 9:33 am | BusinessDesk
Feb. 21 (BusinessDesk) – Agria Corp., the Chinese seeds and agricultural researcher, is in the box seat to take control of PGG Wrightson Ltd. after the South Island rural services company’s second suitor dropped out of the running. More >>
NZ dollar holds above 76 US cts as China hikes rates
Monday, 21 February 2011, 9:19 am | BusinessDesk
by Paul McBeth Feb. 21 (BusinessDesk) – The New Zealand dollar held above 76 U.S. cents as rising food prices underpinned support for the currency in the face of tighter monetary policy in China. More >>
World Week Ahead: Timing is everything
Monday, 21 February 2011, 7:40 am | BusinessDesk
Feb. 21 (BusinessDesk) - If the maxim ‘buy low and sell high’ has any truth, then sell. More >>
MARKET CLOSE: NZ shares rally to fresh 2-1/2 year high
Friday, 18 February 2011, 6:09 pm | BusinessDesk
MARKET CLOSE: NZ shares rally to fresh 2-1/2 year high; Sky Network paces gains, NZ Refining falls More >>
Fonterra won’t raise local milk prices this year: Ferrier
Friday, 18 February 2011, 6:06 pm | BusinessDesk
Feb. 18 (BusinessDesk) – Fonterra Cooperative Group says it won’t raise wholesale domestic milk prices this year, even though it expects prices globally have further to go. More >>
Sky TV first-half profit jumps 19%
Friday, 18 February 2011, 2:10 pm | BusinessDesk
Feb. 18 (BusinessDesk) - Sky Network Television said a 19% rise in first-half profit to $60.4 million is due to the continuing success of its MY SKY high definition decoder and a rebound in advertising sales. More >>
