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BusinessDesk - Latest News [Page 1605]

Stocks to watch: ALF, ANO, FPA, GPG, STU, TEL, TLS

Friday, 11 February 2011, 9:42 am | BusinessDesk

Feb. 11 (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 >>

Telecom first-half earnings slide 32%, capex cut

Friday, 11 February 2011, 9:22 am | BusinessDesk

Feb. 11 (BusinessDesk) – Telecom Corp., the country’s second biggest listed company, reported a 32% slide in first-half profit as earnings shrank in its fixed, mobile and data businesses. More >>

MARKET CLOSE: NZ stocks fall, paced by Mainfreight, PGC

Thursday, 10 February 2011, 6:11 pm | BusinessDesk

Feb. 10 (BusinessDesk) - New Zealand stocks fell as the earnings season got underway, with Mainfreight Ltd. pacing decliners after third quarter profit missed some market expectations. Steel & Tube Holdings rose after it reported a 165% jump in net ... More >>

Foodstuffs’ $45 million fillip for Christchurch

Thursday, 10 February 2011, 2:52 pm | BusinessDesk

Feb. 10 (BusinessDesk) – National supermarket operator Foodstuffs Co-operative is to pump $45 million into the Christchurch economy with a major extension to its Hornby distribution facility. More >>

Hanover launches offensive on Allied Farmers, targets MD

Thursday, 10 February 2011, 2:38 pm | BusinessDesk

Feb. 10 (BusinessDesk) – Hanover Finance Ltd., the failed finance company under investigation by the Serious Fraud Office and Securities Commission, has launched a campaign against Allied Farmers Ltd. as it gears up for its $5 million claim against ... More >>

TelstraClear first-half EBIT loss doubles

Thursday, 10 February 2011, 12:50 pm | BusinessDesk

Feb. 10 (BusinessDesk) – TelstraClear Ltd., the local subsidiary of Australian phone company Telstra Corp., doubled its first-half loss on one-time costs to set up call centres in the Philippines. More >>

Steel & Tube's 1H result recovers somewhat, shares gain 4.9%

Thursday, 10 February 2011, 12:44 pm | BusinessDesk

Feb. 10 (BusinessDesk) - Steel & Tube Holdings' first-half result recovered, though volumes remain well below historical levels and the second-half result is likely to be similar to the first-half. More >>

AMP Office 1H distributable profit falls 4%; fees drop

Thursday, 10 February 2011, 11:24 am | BusinessDesk

Feb. 10 (BusinessDesk) - AMP NZ Office Ltd., the property investor that shed its trust structure last year, posted a 4% drop in first-half distributable profit as rental income fell and interest costs rose. Full-year earnings on the same basis ... More >>

Mainfreight domestic trading lags behind offshore businesses

Thursday, 10 February 2011, 10:05 am | BusinessDesk

Feb. 10 (BusinessDesk) – Mainfreight Ltd.’s third-quarter sales and profit jumped by almost a fifth, with the strongest growth coming from its operations in Australia, the U.S. and Asia, prompting the transport company to predict “much improved’ ... More >>

Stocks to watch: ANZ, GMT, FBU, MFT, NZO, SKC

Thursday, 10 February 2011, 9:44 am | BusinessDesk

Feb. 10 (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 dips and holds following English’s bearish comment

Thursday, 10 February 2011, 9:24 am | BusinessDesk

Feb. 10 (BusinessDesk) – The New Zealand dollar was little changed against the greenback overnight after taking a knock yesterday on Finance Minister Bill English’s bearish outlook on the economy. More >>

MARKET CLOSE: NZ stocks rise as kiwi falls; Pyne Gould leads

Wednesday, 9 February 2011, 5:50 pm | BusinessDesk

Feb. 9 (BusinessDesk) - New Zealand stocks rose after a sudden drop in the kiwi dollar on the back of double recession fears increased the affordability of local stocks for overseas investors. Pyne Gould Corp. led gainers and Property for Industry Ltd. ... More >>

Partial privatisations will attract foreigners: AMP Capital

Wednesday, 9 February 2011, 3:49 pm | BusinessDesk

by Paul McBeth Feb. 9 (BusinessDesk) – A partial float of the State-owned electricity generators would attract institutional and foreign investor support, especially if local investors had trouble digesting the size of the proposed floats, says AMP Capital ... More >>

Double-dip” recession possible: English

Wednesday, 9 February 2011, 2:49 pm | BusinessDesk

Feb. 9 (BusinessDesk) – Finance Minister Bill English confirmed today the government is concerned about a double dip recession, echoing Prime Minister John Key’s caution in the face of weak employment figures and a fast-slowing Australian economy. More >>

English declares war on public service 'waffle'

Wednesday, 9 February 2011, 2:25 pm | BusinessDesk

Feb. 9 (BusinessDesk) – Public servants who don’t like change and are “waiting for more money to drop from the sky” should consider seeking work elsewhere, while social policy agencies need to stop “waffling”, Finance Minister Bill English ... More >>