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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 1606]
Cavalier seeks antitrust clearance to buy Wool Services
Wednesday, 9 February 2011, 11:11 am | BusinessDesk
Feb. 9 (BusinessDesk) – Cavalier Wool Holdings has sought clearance from the Commerce Commission to acquire New Zealand Wool Services International Ltd., a purchase that would cement its dominance of the nation’s wool scouring industry. More >>
Pyne Gould to continue as wealth manager
Wednesday, 9 February 2011, 9:46 am | BusinessDesk
Feb. 9 (BusinessDesk) – Pyne Gould Corp. plans to continue as a wealth management firm after distributing shares in its merged Marac Finance unit and repaying debt from the sale of its holding in PGG Wrightson. More >>
Stocks to watch: CCC, FBU, NZO, PGC, RYM, TUR
Wednesday, 9 February 2011, 9:45 am | BusinessDesk
Feb. 9 (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 holds gains after surprise Chinese rate hike
Wednesday, 9 February 2011, 9:13 am | BusinessDesk
by Paul McBeth Feb. 9 (BusinessDesk) – The New Zealand dollar held its gains after a surprise hike in Chinese interest rates dimmed appetite for riskier, higher-yielding assets. More >>
MARKET CLOSE: NZ stocks fall; Telecom paces decliners
Tuesday, 8 February 2011, 6:03 pm | BusinessDesk
MARKET CLOSE: NZ stocks fall; Telecom paces decliners, Contact rises Feb. 8 (BusinessDesk) - New Zealand stocks fell, retreating from a two-and-half year high, with Telecom Corp. pacing decliners ahead of the company's interim results on Friday, and Contact ... More >>
NZ Super Fund cracks $18 bln, benefits from global equities
Tuesday, 8 February 2011, 4:16 pm | BusinessDesk
Feb. 8 (BusinessDesk) – The New Zealand Superannuation Fund grew to $18.2 billion by the end of 2010, even without any government contributions, helped by gains in global equities which make up 60% of its investments. More >>
Children’s needs justify public sector & welfare reform: PM
Tuesday, 8 February 2011, 3:09 pm | BusinessDesk
Feb. 8 (BusinessDesk) – Ineffective government spending, especially where it relates to children in need, is a top government priority, Prime Minister John Key said in a statement marking the opening of Parliament for the year. More >>
NZ property values stabilise in January: QV
Tuesday, 8 February 2011, 1:39 pm | BusinessDesk
Feb. 8 (BusinessDesk) - Residential property values in New Zealand stabilised in January after nine months of decline, according to government valuer Quotable Value Ltd. More >>
Irongate shares fall as Bluestone quits quest for contracts
Tuesday, 8 February 2011, 1:31 pm | BusinessDesk
Feb. 8 (BusinessDesk) – Shares of Irongate Property Ltd. slumped back to a record-low after Australia’s Bluestone Group abandoned efforts to buy two management contracts from the St Laurence-linked firm. More >>
Air NZ adds Etihad code-share
Tuesday, 8 February 2011, 11:00 am | BusinessDesk
Air NZ extends Virgin Blue code-share through Emirate’s rival Etihad Feb. 8 (BusinessDesk) – Air New Zealand signed a code-share agreement with Etihad Airways, the national airline of the United Arab Emirates, which will see them share domestic, trans-Tasman ... More >>
Cavotec's Q4 orders fell 40.6%
Tuesday, 8 February 2011, 10:54 am | BusinessDesk
Feb. 8 (BusinessDesk) -Cavotec MSL Holdings' new orders in the three months ended December 2010 fell 40.6% to 32.5 million euro (NZ$57.3 million). More >>
Warehouse taps Stationery boss Powell to replace CEO Morrice
Tuesday, 8 February 2011, 10:07 am | BusinessDesk
Feb. 8 (BusinessDesk) – Warehouse Group, New Zealand’s biggest listed retailer, named the head of its chain of stationery stores, Mark Powell, to replace departing chief executive Ian Morrice. More >>
Stocks to watch: AIA, AIR, CVT, GFF, KMD, PGW
Tuesday, 8 February 2011, 9:48 am | BusinessDesk
Feb. 8 (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 holds above 77 US cts as US rate hikes may loom
Tuesday, 8 February 2011, 9:21 am | BusinessDesk
NZ dollar holds above 77 US cts as traders ponder timing of US rate hikes More >>
MARKET CLOSE: NZ stocks rise; Fletcher paces advance
Monday, 7 February 2011, 6:01 pm | BusinessDesk
Feb. 7 (BusinessDesk) - New Zealand stocks rose to their highest level in almost three years, with the market bolstered by positive sentiment on offshore markets and heightening acquisition activity locally. Fletcher Building Ltd. paced gainers ... More >>
Greymouth Petroleum boosts management team
Monday, 7 February 2011, 5:19 pm | BusinessDesk
Feb. 7 (BusinessDesk) – Greymouth Petroleum Ltd. is making three senior management appointments that it says reflect its need for greater depth to pursue opportunities in both New Zealand and Chile. More >>
Key to outline new public sector efficiency drive
Monday, 7 February 2011, 5:10 pm | BusinessDesk
Feb. 7 (BusinessDesk) – Wringing further efficiency out of the public sector will be a key feature of Prime Minister John Key’s speech tomorrow at the opening of Parliament for the year. More >>
Australian retail sales climb less than expected in December
Monday, 7 February 2011, 4:34 pm | BusinessDesk
Feb. 7 (BusinessDesk) – Australian retail sales rose less than half the forecast pace in the run-up to Christmas, as weaker trading at department stores offset increased sales of clothing and footwear. More >>
Power company credit ratings safe with partial sale
Monday, 7 February 2011, 3:12 pm | BusinessDesk
Power company credit ratings safe with partial sale, S&P says Feb. 7 (BusinessDesk) – The partial sell-down of the government’s holding in electricity retailers Mighty River Power Ltd., Genesis Energy Ltd., and Meridian Energy Ltd. probably won’t ... More >>
NSW cobalt miner to list on NZX next Tuesday
Monday, 7 February 2011, 3:10 pm | BusinessDesk
Feb. 7 (BusinessDesk) – New Zealand investors will get a new mineral resources play to invest in next Tuesday, Feb. 15, with the anticipated listing of Broken Hill Prospecting Ltd. following a successful A$4.5 million capital-raising. More >>
