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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 1613]
MARKET CLOSE: NZ stocks rise with jump in Telecom volume
Friday, 21 January 2011, 5:57 pm | BusinessDesk
Jan. 21 (BusinessDesk) - New Zealand stocks rose for the first time in three sessions, with the biggest volume of Telecom Corp. shares trading so far this year. Michael Hill International Ltd. paced decliners. More >>
Westpac sees demand for NZ debt, eyes covered bond sale
Friday, 21 January 2011, 4:09 pm | BusinessDesk
Jan. 21 (BusinessDesk) – Westpac Banking Corp., New Zealand’s second-biggest lender by total assets, it preparing for a sale of covered bonds and says foreign investors still like the nation’s economic story. More >>
Crane Group first-half profit rises 15% on Tradelink, Hudson
Friday, 21 January 2011, 3:40 pm | BusinessDesk
Jan. 21 (BusinessDesk) – Crane Group Ltd., the target of a hostile takeover offer from Fletcher Building Ltd., posted a 15% gain in first-half profit and forecast a “strong” second half on demand for pipes and building materials. More >>
RBNZ sets 10% limit on covered bond issuance by lenders
Friday, 21 January 2011, 2:43 pm | BusinessDesk
Jan. 21 (BusinessDesk) – The Reserve Bank has set a 10% limit on how much covered bonds can make of New Zealand’s lenders total assets. More >>
Air New Zealand grows December passenger numbers
Friday, 21 January 2011, 1:59 pm | BusinessDesk
Jan. 21 (BusinessDesk) - Air New Zealand carried 1,322,000 passengers in December 2010, almost 10% more than the same month a year before. More >>
NZ manufacturing rose in December, fanned by new orders: PMI
Friday, 21 January 2011, 11:38 am | BusinessDesk
Jan. 21 (BusinessDesk) - New Zealand manufacturers closed off last year on a positive note, with confidence levels gaining for a third month. More >>
NZ core retail sales unexpectedly sink, led by supermarkets
Friday, 21 January 2011, 11:30 am | BusinessDesk
Jan. 21 (BusinessDesk) – New Zealand retail sales excluding motor vehicle-related industries unexpectedly fell in November, led by supermarkets and grocery stores. The kiwi dollar dropped 0.4% after the release. More >>
Air NZ shares fall after A$145M foray into Virgin Blue
Friday, 21 January 2011, 11:06 am | BusinessDesk
Jan. 21 (BusinessDesk) - Air New Zealand Ltd. shares fell after the company made a A$145 million investment in a minority stake in new trans-Tasman partner Virgin Blue Holdings Ltd. More >>
Govt extends trade support for three more years
Friday, 21 January 2011, 10:45 am | BusinessDesk
Jan. 21 (BusinessDesk) - The government has extended the full range of services offered by the New Zealand Export Credit Office for another three years to help support the country's exporters as the global recovery slowly takes hold. More >>
Stocks to watch: AIR, FBU, NZO, SAN, TLS, WBC
Friday, 21 January 2011, 9:43 am | BusinessDesk
Jan. 21 (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 sinks below 76 cts on fear of China tightening
Friday, 21 January 2011, 9:06 am | BusinessDesk
NZ dollar sinks below 76 US cts as Chinese growth stokes fears of rate hikes More >>
Air NZ to acquire up to 14.99% of new partner Virgin Blue
Thursday, 20 January 2011, 11:46 pm | BusinessDesk
Jan. 20 (BusinessDesk) - Air New Zealand will acquire up to 14.99% of Virgin Blue, its new partner on trans-Tasman routes, the maximum it can hold under foreign ownership rules for the airline founded by Richard Branson. More >>
MARKET CLOSE: NZ stocks fall; Pyne Gould paces decliners
Thursday, 20 January 2011, 6:04 pm | BusinessDesk
Jan. 20 (BusinessDesk) New Zealand stocks fell, as investor appetite for higher yielding or riskier assets shrank amid signs that China will need to start aggressively clamping down on inflation after GDP figures came in higher than expected. Pyne Gould Corp. ... More >>
Finance and Leasing placed in receivership owing $17M
Thursday, 20 January 2011, 5:52 pm | BusinessDesk
Jan. 20 (BusinessDesk) – Finance and Leasing Ltd., the 28-year-old minnow lender, has been placed in receivership after falling short of tougher regulations governing finance companies, the first such failure because of the harder line. More >>
NZ consumer confidence lifts with warm holiday season
Thursday, 20 January 2011, 4:02 pm | BusinessDesk
Jan. 20 (BusinessDesk) – New Zealand consumer confidence bounced back in January as people were more optimistic during their summer holidays, and willing to take advantage of seasonal sales. More >>
LanzaTech features in China-U.S. clean energy agreement
Thursday, 20 January 2011, 2:25 pm | BusinessDesk
Jan. 20 (BusinessDesk) - New Zealand technology company LanzaTech has landed itself in the middle of a key U.S.-China clean energy cooperation agreement. More >>
NZ retailers absorb GST hike, give Bollard room to pause
Thursday, 20 January 2011, 11:48 am | BusinessDesk
Jan. 20 (BusinessDesk) – New Zealand retailers took the government’s hike in goods and services tax on the chin as the quarterly inflation rate rose to 2.3%, giving the Reserve Bank room to keep interest rates at historically low levels. More >>
NZ 4Q inflation speeds to 2.3% on GST, meets RBNZ forecast
Thursday, 20 January 2011, 10:54 am | BusinessDesk
Jan. 20 (BusinessDesk) – New Zealand consumer prices rose 2.3% as expected in the three months ended Dec. 30, mainly reflecting the hike in goods and services tax and suggesting the Reserve Bank won’t rush to raise interest rates. More >>
Stocks to watch: AIR, KMD, NZO, OGC, PBG, TEL
Thursday, 20 January 2011, 9:42 am | BusinessDesk
Jan. 20 (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 drops ahead of inflation data, as US stocks fall
Thursday, 20 January 2011, 9:20 am | BusinessDesk
Jan. 20 (BusinessDesk) – The New Zealand dollar dropped ahead of today’s inflation data, which will show a spike in consumer prices as the effects of the government’s GST hike feed into local prices. More >>
