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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 1603]
A2 profitable for the first time, eyes up Asia
Wednesday, 16 February 2011, 11:45 am | BusinessDesk
Feb. 16 (BusinessDesk) - A2 Corp., which tapped AMP Capital Investors NZ and Freedom Foods Group in a share purchase plan last year, made its first-ever profit and is looking towards Asia for further growth. More >>
Northland Port lifts earnings 5.5% on log exports
Wednesday, 16 February 2011, 10:49 am | BusinessDesk
Feb. 16 (BusinessDesk) – Northland Port Corp., which operates the Marsden Point port and has holdings in the surrounding land area, lifted first-half profit 5.5% on increased log export volumes. More >>
Joyce unveils Telecom regulatory relief package
Wednesday, 16 February 2011, 10:44 am | BusinessDesk
Feb. 16 (BusinessDesk) – Fundamental changes to telecommunications regulation tabled in Parliament this morning are giving Telecom Corp. its first look at the trade-off being offered in return for splitting itself into two separate companies. More >>
Sky City's result hit by Darwin smoking ban
Wednesday, 16 February 2011, 10:13 am | BusinessDesk
Feb. 16 (BusinessDesk) - Casino operator Sky City Entertainment Group said first-half net profit fell 5.5% to $67.1 million, dragged down by a smoking ban affecting its Darwin casino, falling earnings at its key Auckland casino and the October increase ... More >>
Fletcher Building 1H profit rises 8%, driven by Australia
Wednesday, 16 February 2011, 10:06 am | BusinessDesk
Feb. 16 (BusinessDesk) – Fletcher Building Ltd., the biggest company on the NZX, posted an 8% gain in first-half profit on increased volumes sold in Australia and improved U.S. margins. Full-year earnings will meet analyst estimates, it said. More >>
Stocks to watch: FBU, GPG, NZO, OGC, SKC, TWR, WHS, WBC
Wednesday, 16 February 2011, 9:51 am | BusinessDesk
Feb. 16 (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 drops to 8-week low as Wall St falls
Wednesday, 16 February 2011, 9:20 am | BusinessDesk
NZ dollar drops to 8-week low as Wall St falls on weak consumer spending More >>
Trans-Tasman ‘borderless’ travel on the table, says Gillard
Wednesday, 16 February 2011, 8:52 am | BusinessDesk
Feb. 16 (BusinessDesk) – The New Zealand and Australian governments are working towards ‘borderless’ travel across the Tasman as part of the goal of a single economic market. More >>
Milk powder rises 3.9% to highest since online sales began
Wednesday, 16 February 2011, 7:54 am | BusinessDesk
Feb. 16 (BusinessDesk) – The price of milk powder rose to the highest level since Fonterra Cooperative Group began its online auctions in July 2008, reflecting climbing world food prices and boding well for the payout for the dairy exporter’s 11,000 ... More >>
MARKET CLOSE: NZX 50 hits 2 ½-year high; Freightways leads
Tuesday, 15 February 2011, 5:59 pm | BusinessDesk
MARKET CLOSE: NZX 50 touches 2 ½-year high on earnings; Freightways leads gains, Abano falls More >>
Trade creditors, NZOG may be biggest losers from Pike
Tuesday, 15 February 2011, 5:02 pm | BusinessDesk
Feb. 15 (BusinessDesk) – Trade creditors and New Zealand Oil & Gas may be the biggest losers from the receivership of Pike River Coal Ltd., according to the first report from PricewaterhouseCoopers. More >>
Trans-Tasman PMs target APEC meeting for extended TPP
Tuesday, 15 February 2011, 3:53 pm | BusinessDesk
Feb. 15 (BusinessDesk) – The leaders of Australia and New Zealand will work towards securing an extended Trans-Pacific Partnership by November’s Asia Pacific Economic Cooperation meeting as they take another step towards a single economic market. More >>
OceanaGold lifts reserves estimate, shares jump
Tuesday, 15 February 2011, 3:30 pm | BusinessDesk
Feb. 15 (BusinessDesk) - Macraes Flat and Reefton gold miner OceanaGold Corp. increased its measured and indicated New Zealand gold resources by 22% to 4.61 million ounces. The shares jumped almost 7%. More >>
Axa NZ boosts earnings on KiwiSaver uptake
Tuesday, 15 February 2011, 3:19 pm | BusinessDesk
Feb. 15 (BusinessDesk) – Axa New Zealand, the local unit of Axa Asia Pacific Holdings, boosted earnings 24% as it lifted its managed KiwiSaver funds and improved its insurance claims and expenses. More >>
Canterbury earthquake sparks downgrade for local body fund
Tuesday, 15 February 2011, 1:01 pm | BusinessDesk
Feb. 15 (BusinessDesk) – The Local Authority Protection Programme Disaster Fund (LAPP), which was set up by local bodies to replace infrastructure after a natural disaster, has been downgraded following last year’s Canterbury earthquake. More >>
ACC property manager admits corruption charges
Tuesday, 15 February 2011, 11:14 am | BusinessDesk
Feb. 15 (BusinessDesk) –Serious Fraud Office chief executive Adam Feeley has his first scalp for corruption after Accident Compensation Corp.’s former national property manager admitted to accepting bribes. More >>
Rural property shows modest rebound, grazing and dairy lead
Tuesday, 15 February 2011, 11:05 am | BusinessDesk
Feb. 15 (BusinessDesk) - New Zealand’s rural property sector has staged a modest recovery in the November-January quarter, led by grazing and dairy properties, while prices of lifestyle blocks continued to decline. More >>
Salvus looks at cashing up, paying out shareholders
Tuesday, 15 February 2011, 9:38 am | BusinessDesk
By Paul McBeth Feb. 15 (BusinessDesk) – Salvus Strategic Investments Ltd., the listed investment company, is looking at ways to cash up its assets and return capital to shareholders. More >>
Stocks to watch: AIR, FRE, IFT, MHI, SAM, THL
Tuesday, 15 February 2011, 9:34 am | BusinessDesk
Feb. 15 (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 slips weak retail sales; Chinese inflation looms
Tuesday, 15 February 2011, 9:11 am | BusinessDesk
Feb. 15 (BusinessDesk) – The New Zealand dollar fell as weak retail sales in December stoked concern the country fell back into recession in the latter half of last year, sapping investors’ appetite for the kiwi. More >>
