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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 1610]
NZ posts monthly trade deficit on aircraft purchases
Monday, 31 January 2011, 11:43 am | BusinessDesk
Jan. 31 (BusinessDesk) – New Zealand posted its sixth straight monthly trade deficit in December as purchases of aircraft and parts drove up imports, outpacing an increase in exports. More >>
Gould steps down as Pyne Gould director to head up Wrightson
Monday, 31 January 2011, 11:14 am | BusinessDesk
Jan. 31 (BusinessDesk) – Christchurch businessman George Gould has resigned as a director of Pyne Gould Corp. as part of the conditions of taking over as managing director of PGG Wrightson. More >>
Stocks to watch: FBU, MHI, NZO, OGC, SEK, TEL
Monday, 31 January 2011, 9:48 am | BusinessDesk
Jan. 31 (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 >>
Fletcher sweetens offer for Crane Group, wins support
Monday, 31 January 2011, 9:45 am | BusinessDesk
Jan. 31 (BusinessDesk) – Fletcher Building Ltd. sweetened its takeover offer for Crane Group, winning support from the target’s directors for a deal that will increase its dominance in the Australasian market for building products such as pipes. More >>
NZ dollar shrugs off Egyptian unrest, holds above 77 US cts
Monday, 31 January 2011, 9:19 am | BusinessDesk
Jan. 31 (BusinessDesk) – The New Zealand dollar shrugged off political unrest in Egypt even as stocks on Wall Street and in Europe sank, and held above 77 U.S. cents on rising food prices. More >>
World Week Ahead: Take a deep breath
Monday, 31 January 2011, 7:26 am | BusinessDesk
Jan. 31(BusinessDesk) - For financial markets, the unexpected political developments in Egypt might turn out to be fortuitous. More >>
MARKET CLOSE: NZ stocks mixed amid Fletcher trading halt
Friday, 28 January 2011, 6:01 pm | BusinessDesk
MARKET CLOSE: NZ stocks mixed amid Fletcher trading halt; property stocks pace gainers, Skellerup falls More >>
Hart raises US$2 bln in debt market to refinance Reynolds
Friday, 28 January 2011, 5:40 pm | BusinessDesk
Jan. 28 (BusinessDesk) – New Zealand billionaire Graeme Hart returned to the debt market to refinance up to US$1 billion in bank loans for his packaging empire, and has flagged the company is looking at buying another rival. More >>
PSA vine infection unlikely to have major impact: Seeka
Friday, 28 January 2011, 3:46 pm | BusinessDesk
Jan. 28 (BusinessDesk) - Seeka Kiwifruit Industries Ltd. says about 3% of its total 2010 supply area of 2,737 hectares is infected with the aggressive Italian PSA vine infection. More >>
Economic benefits of tax reform, savings outweigh SOE sales
Friday, 28 January 2011, 3:01 pm | BusinessDesk
Jan. 28 (BusinessDesk) – The Treasury says full private ownership of state-owned companies would deliver less economic benefit than reforming the tax system and encouraging saving, but is in line with the government’s policy direction. More >>
Next 12 months hangs on US, China growth: Bollard
Friday, 28 January 2011, 1:13 pm | BusinessDesk
Jan. 28 (BusinessDesk) – Reserve Bank Governor Alan Bollard says New Zealand’s economy will revive in 2011 though the enduring effects of the Global Financial Crisis have amplified the forecasting risks, with global and local factors that could derail ... More >>
Stocks to watch: FBU, PPL, NPT, NZR, PGC, TLS
Friday, 28 January 2011, 9:43 am | BusinessDesk
Jan. 28 (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 >>
Govt may get 10 cts in the dollar on Rockforte payout
Friday, 28 January 2011, 9:34 am | BusinessDesk
Govt to claw back as much as 10 cts in the dollar on Rockforte receivership More >>
NZ dollar gains vs yen as Japanese rating cut; Bollard looms
Friday, 28 January 2011, 9:19 am | BusinessDesk
NZ dollar hits 2-month high vs yen as Japanese rating cut; Bollard speech looms More >>
MARKET CLOSE: NZ stocks fall, Pumpkin Patch leads; SAN gains
Thursday, 27 January 2011, 5:52 pm | BusinessDesk
Jan. 27 (BusinessDesk) - New Zealand stocks fell for a second session, with Pumpkin Patch Ltd. leading the market lower after downgrading its full-year profit forecast, while Sanford Ltd. rose. More >>
Higher export food prices hurt New Zealand economy: NZIER
Thursday, 27 January 2011, 5:27 pm | BusinessDesk
Jan. 27 (BusinessDesk) - Rising international food prices may be good for New Zealand exporters, but the effect on households causes a net welfare loss to the country, according to a study by the NZ Institute of Economic Research. More >>
Vector’s Stiassny ‘galled’ at Whimp’s low-ball offer
Thursday, 27 January 2011, 5:14 pm | BusinessDesk
Jan. 27 (BusinessDesk) – Vector Ltd. chairman Michael Stiassny is galled at Christchurch businessman Bernard Whimp’s low-ball offer that netted him 0.15% of the company’s shares. More >>
Fitch puts Downer on negative ratings watch on train delays
Thursday, 27 January 2011, 4:33 pm | BusinessDesk
Jan. 27 (BusinessDesk) - Ratings agency Fitch has placed Downer EDI Ltd. on a negative watch while maintaining its rating at BBB- after the company announced production delays with its Waratah train project and the discovery of asbestos at its rail production ... More >>
Building Society Holdings sees shares listing at 88 cents
Thursday, 27 January 2011, 4:28 pm | BusinessDesk
Jan. 27 (BusinessDesk) – Building Society Holdings Ltd., the merged entity made up of Marac Finance and Southern Cross and Canterbury building societies, expects its shares to list at 88 cents it joins the NZX next week. More >>
National Property beats forecast as earnings slip
Thursday, 27 January 2011, 2:40 pm | BusinessDesk
Jan. 27 (BusinessDesk) – National Property Trust, the property investor which dumped its St Laurence-linked manager last year, reported a 5.4% decline in distributable earnings, beating its forecast. More >>
