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BusinessDesk - Latest News [Page 1611]

Shanghai Pengxin makes offer for Crafar Farms

Thursday, 27 January 2011, 2:08 pm | BusinessDesk

Jan. 27 (BusinessDesk) – The receivers of the Crafar Farms say they’ve accepted an offer for the business from Pengxin International Group, a Shanghai-based diversified investment company with global interests including bio-fuel crops, fisheries, farming ... More >>

Telstra to book up to A$150m by unwinding joint venture

Thursday, 27 January 2011, 12:41 pm | BusinessDesk

Jan. 27 (BusinessDesk) – Telstra Corp., Australia’s biggest phone company, said it will substantially unwind its Reach joint-venture which will result in an accounting gain of up to A$150 million. More >>

Pumpkin Patch FY profit may fall as much as 37%; shares drop

Thursday, 27 January 2011, 12:05 pm | BusinessDesk

Jan. 27 (BusinessDesk) – Pumpkin Patch Ltd., the children’s clothing retailer, says profit may fall as much as 37% this year as lacklustre sales weigh on the bottom line. The shares dropped 4.5% to an 18-month low. More >>

Bollard sees recovery signs, keeps OCR on hold; kiwi gains

Thursday, 27 January 2011, 10:17 am | BusinessDesk

Jan. 27 (BusinessDesk) – Reserve Bank Governor Alan Bollard flagged a brighter future for this year as he kept the official cash rate at 3%, as expected, and says he needs to see a “more robust” recovery before his starts tightening again. More >>

Fletcher, knocked back over Crane offer, has stock halted

Thursday, 27 January 2011, 10:04 am | BusinessDesk

Jan. 27 (BusinessDesk) - Fletcher Building Ltd., whose takeover offer for Australia’s Crane Group was knocked back as inadequate, had its stock halted from trading pending a statement. More >>

Fed affirms bond buying plans, near-zero rates

Thursday, 27 January 2011, 9:50 am | BusinessDesk

Jan. 27 (BusinessDesk) – The Federal Reserve’s key policy committee voted unanimously in favour of continuing to buy U.S. government securities to bolster the recovery of the world’s biggest economy. More >>

Stocks to watch: AIR, KMD, NZS, PLU, RBD, SAN, SKC

Thursday, 27 January 2011, 9:43 am | BusinessDesk

Jan. 27 (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 >>

Beca named as NZ Farming Systems Uruguay managing director

Thursday, 27 January 2011, 9:25 am | BusinessDesk

Jan. 27 (BusinessDesk) - New Zealand Farming Systems Uruguay, which is controlled by Singapore-based Olam International, named David Beca as its new managing director. More >>

NZ dollar gains as Bollard holds OCR at 3% as expected

Thursday, 27 January 2011, 9:18 am | BusinessDesk

Jan. 27 (BusinessDesk) - The New Zealand dollar rose as Reserve Bank Governor Allan Bollard held the official cash rate at 3% as expected amid signs the economy is in need of support after narrowly dodging a double-dip recession last year. More >>

Bollard holds OCR at 3% as expected, no hike on the horizon

Thursday, 27 January 2011, 9:09 am | BusinessDesk

Jan. 27 (BusinessDesk) – Reserve Bank Governor Alan Bollard held the official cash rate at 3%, as expected, and isn’t planning to raise rates until the economic recovery is “more robust.” More >>

Pulse Utilities powers its way to 20,000 customers

Wednesday, 26 January 2011, 5:54 pm | BusinessDesk

Jan. 26 (BusinessDesk) - Pulse Utilities Ltd., the smart meter developer and start-up electricity retailer has signed up more than 20,000 customers across New Zealand it said in a statement. More >>

MARKET CLOSE: NZ stocks fall; Hallenstein leads slide

Wednesday, 26 January 2011, 5:49 pm | BusinessDesk

Jan. 26 (BusinessDesk) - New Zealand stocks fell for the second time in three sessions, with retailer Hallenstein Glasson Holdings leading the decline after downgrading its profit outlook, while Sanford Ltd. rose. More >>

Sanford, Sealord eye govt funds for mussel R&D

Wednesday, 26 January 2011, 3:06 pm | BusinessDesk

Jan. 26 (BusinessDesk) – Fishing company rivals Sanford Ltd. and Sealord Group plan to tap government funding for research and development into lifting the value of New Zealand mussel exports. More >>

SmartPay’s Bailey says ASX opens door to easier capital

Wednesday, 26 January 2011, 1:34 pm | BusinessDesk

Jan. 26 (BusinessDesk) – SmartPay Ltd. managing director Ian Bailey says the company’s plan to list on the ASX will give the company access to capital markets more willing to back small companies than in New Zealand. More >>

Key flags potential sell-down of $16.2B of SOEs

Wednesday, 26 January 2011, 1:26 pm | BusinessDesk

Key flags potential sell-down of $16.2B of state-owned coal, power companies, Air NZ More >>

Yellow Pages' bankers take control after $1.05b write-off

Wednesday, 26 January 2011, 12:46 pm | BusinessDesk

Jan. 26 (BusinessDesk) - Yellow Pages Group's bankers have taken ownership of the company after writing off $1.05 billion of debt. More >>

Fletcher mulls options after Crane bid deemed `unreasonable'

Wednesday, 26 January 2011, 12:33 pm | BusinessDesk

Jan. 26 (BusinessDesk) - Fletcher Building Ltd., New Zealand biggest construction company, is mulling options after takeover target Crane Group released excerpts of an independent review of the hostile bid, which labeled it "not fair and not ... More >>