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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 1609]
Milk powder prices jump 7.2% in Fonterra’s latest auction
Wednesday, 2 February 2011, 7:43 am | BusinessDesk
Feb. 2 (BusinessDesk) – The price of milk powder jumped to the highest level since mid-2008 in Fonterra Cooperative Group’s latest online auction, reflecting global demand and shortages for food commodities. More >>
Serco says Mt Eden prison contract worth $300M
Tuesday, 1 February 2011, 9:02 pm | BusinessDesk
Feb. 1 (BusinessDesk) - Serco Group Plc, the U.K. listed prison and other services company, says its 10-year contract to manage Mt Eden jail is worth about $300 million. More >>
MARKET CLOSE: NZ stocks rise; Pumpkin Patch leads gainers
Tuesday, 1 February 2011, 5:47 pm | BusinessDesk
Feb. 1 (BusinessDesk) - New Zealand stocks rose for the first time in three sessions, with Pumpkin Patch Ltd. leading gainers on the exchange while Pyne Gould Corp. fell. More >>
Savings & investment theme for this year’s Budget: English
Tuesday, 1 February 2011, 5:41 pm | BusinessDesk
Feb. 1 (BusinessDesk) – Savings and investment will be the key theme for the Budget this year as the government looks to build on its 2010 tax reforms which punished consumption, according to Finance Minister Bill English. More >>
RBA keeps key rate at 4.75%, inflation outlook cloudy
Tuesday, 1 February 2011, 5:37 pm | BusinessDesk
Feb. 1 (BusinessDesk) - The Reserve Bank of Australia kept key interest rate unchanged, as expected, saying the outlook is for tame inflation though it is watching for any impact on demand from rebuilding after the floods. More >>
NZ consumer credit growth creeping back up
Tuesday, 1 February 2011, 5:33 pm | BusinessDesk
Feb. 1 (BusinessDesk) – Demand for consumer credit is showing signs of life after a period of household debt consolidation, according both to official figures and to behaviour observed by the country’s largest credit bureau, Veda Advantage. More >>
NZ commodity prices set new record in January: ANZ
Tuesday, 1 February 2011, 3:41 pm | BusinessDesk
by Paul McBeth Feb. 1 (BusinessDesk) – Prices for New Zealand-produced raw materials rose for a fifth straight month to a new record in January, as global food prices continue to climb, according to the ANZ Commodity Price Index. More >>
Insured Group stunned by Securities Commission court action
Tuesday, 1 February 2011, 1:27 pm | BusinessDesk
Feb. 1 (BusinessDesk) – High Court action filed by the Securities Commission against the Western Australian company that used the shell of the failed Lombard Group to achieve backdoor listing on the NZX has outraged the company. More >>
Higher GST a non-starter, says English
Tuesday, 1 February 2011, 1:09 pm | BusinessDesk
Feb. 1 (BusinessDesk) – Raising GST to 17.5% is a non-starter, but everything else proposed by the government-appointed Savings Working Group is on the table, says Finance Minister Bill English. More >>
Pacific Brands refinances debt with $500 mln facility
Tuesday, 1 February 2011, 11:59 am | BusinessDesk
Feb.1 (BusinessDesk) - Pacific Brands Ltd., the Australian clothing maker, has completed the refinancing of its existing syndicated debt with a new $500 million facility. More >>
NZ fourth-quarter wages growth unlikely to trouble RBNZ
Tuesday, 1 February 2011, 11:48 am | BusinessDesk
Feb. 1 (BusinessDesk) – New Zealand salaries and wages rose in the fourth quarter though the pace of growth is unlikely to herald wage inflation hat would trouble the Reserve Bank. More >>
Building Society debuts at 95 cts, eases back to 88 cts
Tuesday, 1 February 2011, 11:10 am | BusinessDesk
Feb. 1 (BusinessDesk) - Shares in the newly merged entity Building Society Holdings Ltd., opened at 95 cents in their debut on the NZX, before paring back to the indicated listing price of 88 cents. More >>
Tax reform essential to lift savings, 17.5% GST mooted: SWG
Tuesday, 1 February 2011, 10:38 am | BusinessDesk
Feb. 1 (BusinessDesk) – The government needs to act urgently to address the nation’s woeful savings rate, and re-jigging the tax system needs to be a part of the make-up, according to the Savings Working Group. More >>
Bathurst on track for late 2011 mining start
Tuesday, 1 February 2011, 10:19 am | BusinessDesk
Feb. 1 (BusinessDesk) – Buller coal project developer Bathurst Resources Ltd. is on track to be producing high-quality coking coal at an annual equivalent rate of 650,000 tonnes by the end of this calendar year, the company says in its quarterly ... More >>
Stocks to watch: BTU, BSH, DGL, NZO, NZR, OGC, TEL
Tuesday, 1 February 2011, 9:46 am | BusinessDesk
Feb. 1 (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 as Egyptian fears weigh on risk appetite
Tuesday, 1 February 2011, 9:05 am | BusinessDesk
Feb. 1 (BusinessDesk) – The New Zealand dollar fell as ongoing unrest in Egypt and rising inflation in Europe sapped investors’ appetite for riskier, or higher-yielding, assets. More >>
MARKET CLOSE: NZ stocks fall on Egyptian unrest: FBU drops
Monday, 31 January 2011, 5:58 pm | BusinessDesk
Jan. 31 (BusinessDesk) - New Zealand stocks fell as investors fled higher yielding, or riskier, assets amid fears Egypt's political turmoil will spread to other countries in the region. Fletcher Building Ltd. paced decliners on the exchange, while DNZ ... More >>
NZ Dollar Outlook: Kiwi in range amid Middle East turmoil
Monday, 31 January 2011, 1:48 pm | BusinessDesk
Jan. 31 (BusinessDesk) – The New Zealand dollar will probably tread water this week as Egypt’s internal strife keeps investors wary of risk-sensitive assets, even as commodity-linked investments are bolstered by rising food prices. More >>
NZ building consents sink to lowest since April 2009
Monday, 31 January 2011, 11:49 am | BusinessDesk
Jan. 31 (BusinessDesk) - New Zealand's residential construction sector continued to shrink in December, with building consents falling to their lowest level since April 2009, the sixth straight month of declines. More >>
NZOG share price fall overdone, CEO Salisbury says
Monday, 31 January 2011, 11:44 am | BusinessDesk
Jan. 31 (BusinessDesk) – Investors have overdone their sell-off of New Zealand Oil and Gas Ltd. following the Pike River coal mine disaster, and are failing to account for the impact of high oil prices on the company’s fortunes, says chief ... More >>
