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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 1604]
MARKET CLOSE: Freightways leads stocks higher, MHI bid stays
Monday, 14 February 2011, 5:59 pm | BusinessDesk
Feb. 14 (BusinessDesk) - New Zealand stocks rose for their second session, with Freightways Ltd. pacing gainers after posting earnings growth amid signs that the local economy was clawing its way into recovery. Sky Network Television Ltd. fell. More >>
Foreign investors keep piling into NZ govt debt
Monday, 14 February 2011, 4:46 pm | BusinessDesk
Feb. 14 (BusinessDesk) – Foreign investors boosted their share of government debt on issue last month to just shy of $28 billion, as the Crown borrows $300 million a week to maintain its spending programme. More >>
NZ Dollar Outlook: Kiwi may fall on relatively weak economy
Monday, 14 February 2011, 2:19 pm | BusinessDesk
Feb. 14 (BusinessDesk) – The New Zealand dollar may extend its decline against the greenback this week after weaker-than-expected retail sales set a pessimistic tone for the currency. More >>
NZ retail sales shrink more than expected in December
Monday, 14 February 2011, 12:17 pm | BusinessDesk
Feb. 14 (BusinessDesk) - New Zealand retail sales tumbled more than expected in the Christmas season as spending on groceries, hardware, gardening and building supplies tumbled. More >>
WEEKLY SPORTS DIGEST: Fiji's sevens strength, Phoenix win
Monday, 14 February 2011, 11:35 am | BusinessDesk
14/02/11 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 >>
Freightways 1H profit rises 9% on express mail, data
Monday, 14 February 2011, 11:11 am | BusinessDesk
Feb. 14 (BusinessDesk) – Freightways Ltd. reported a 9% gain in first-half profit, driven by accelerating growth in its core express package and business mail division. It gave no specific guidance for the full year, saying it is too soon to say whether ... More >>
Stocks to watch: AIR, CEN, FBU, PHB, RAK, TEL, XRO
Monday, 14 February 2011, 9:53 am | BusinessDesk
Feb. 14 (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 >>
Pharmacybrands agrees to buy Radius Pharmacy for $17.1M
Monday, 14 February 2011, 9:47 am | BusinessDesk
Feb. 14 (BusinessDesk) – Pharmacybrands Ltd., which manages the Unichem, Amcal, Life Pharmacy and Care Chemist stores, has agreed to buy Radius Pharmacy Ltd. for $17.1 million and take on $18 million of debt, adding interests in 34 chemist outlets ... More >>
NZ dollar may fall as weak retail sales data looms
Monday, 14 February 2011, 9:21 am | BusinessDesk
Feb. 14 (BusinessDesk) – The New Zealand dollar may fall with today’s consumer spending figures expected to show consumers were reluctant to spend more in December, adding to the country’s economic woes. More >>
World Week Ahead: Pullback, what pullback?
Monday, 14 February 2011, 7:55 am | BusinessDesk
Feb. 14 (BusinessDesk) - It’s hard to buy a stock at a discount these days because the market is proving far too resilient. More >>
MARKET CLOSE: NZ stock rise; GPG leads gainers, PPL falls
Friday, 11 February 2011, 5:53 pm | BusinessDesk
Feb. 11 (BusinessDesk) - New Zealand stocks were mixed. Guinness Peat Group led gainers after announcing that it would sell down most of its assets and return the proceeds to shareholders, while Telecom Corp. paced decliners. More >>
Telecom targets smart-phone growth, UFB albatross lingers
Friday, 11 February 2011, 4:06 pm | BusinessDesk
Feb. 11 (BusinessDesk) – Telecom Corp. is targeting smart-phones to rebuild revenue as ultra-fast broadband negotiations continue to keep the company in a state of flux. More >>
NZ house sales fall to record low in January: REINZ
Friday, 11 February 2011, 4:02 pm | BusinessDesk
Feb. 11 (BusinessDesk) – New Zealand house sales sank to a new record low last month as the property market continues to languish into 2011. More >>
MightyRiverPower wins approval for reduced-size Turitea
Friday, 11 February 2011, 2:23 pm | BusinessDesk
Feb. 11 (BusinessDesk) –State-owned electricity generator MightyRiverPower Ltd. has become the latest energy company to win fast-tracked consent to build new generation capacity, but its application for the Turitea wind farm has been cut almost in half. ... More >>
MightyRiverPower wins approval for smaller Turitea wind farm
Friday, 11 February 2011, 2:12 pm | BusinessDesk
Feb. 11 (BusinessDesk) –State-owned electricity generator MightyRiverPower Ltd. has become the latest energy company to win fast-tracked consent to build new generation capacity, but its application for the Turitea wind farm has been cut almost in half. More >>
Air NZ inflight phones may be too costly for mass appeal
Friday, 11 February 2011, 1:54 pm | BusinessDesk
Air NZ's inflight mobile, internet charges still too high for mass appeal, analysts say More >>
Fletcher's Crane bid gains ACCC green light
Friday, 11 February 2011, 12:33 pm | BusinessDesk
Feb. 11 (BusinessDesk) - Fletcher Building Ltd., the country’s biggest listed company, said the Australian Competition and Consumer Commission (ACCC) has given its A$10.07 (NZ$13.26)-a-share takeover offer for Australia-based Crane Group the green light. More >>
Food prices jump in January on higher fruit and veg costs
Friday, 11 February 2011, 11:35 am | BusinessDesk
Feb. 11 (BusinessDesk) - New Zealand's food prices rose in January after two months of declines, led by a spike in fruit and vegetable costs. More >>
GPG shares jump on wind-down plan, $158M capital return
Friday, 11 February 2011, 10:06 am | BusinessDesk
by Jonathan Underhill Feb. 11 (BusinessDesk) – Guinness Peat Group will return $158 million to shareholders this year and gradually sell down assets to the point where the Coats thread-making business is its only investment. More >>
NZ dollar falls as greenback surges on employment data
Friday, 11 February 2011, 9:58 am | BusinessDesk
Feb. 11 (BusinessDesk) - The New Zealand dollar fell as the U.S. dollar rallied against most major currencies on the better than expected unemployment data. More >>
