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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 1618]
Parts shortages and cancelled order behind WDT $8.4 mln righ
Friday, 7 January 2011, 9:20 am | BusinessDesk
Jan. 6 (BusinessDesk) – Wellington Drive Technologies Ltd., the electric motor-maker for refrigeration and ventilation markets, is defending its decision to ask shareholders for more cash, saying it’s had to contend with slow manufacturing lines that have ... More >>
MARKET CLOSE: NZ stocks rise; Cue gets Woodside farm-in
Thursday, 6 January 2011, 6:09 pm | BusinessDesk
Jan. 6 (BusinessDesk) - New Zealand stocks rose for a second session, with retailers Kathmandu Holdings, Pumpkin Patch Ltd. and Michael Hill International Ltd. pacing gainers on the exchange. More >>
Diligent appoints top talent for Asia Pacific expansion
Thursday, 6 January 2011, 10:42 am | BusinessDesk
Jan 6. (BusinessDesk) - Diligent Board Member Services Inc., the corporate governance software developer, has snared a clutch of well-connected executives and advisers to expand its Boardbooks product into the Asia Pacific region. More >>
Stocks to watch: DIL, MCK, NZO, PGC, WHS, WBC
Thursday, 6 January 2011, 9:42 am | BusinessDesk
Stocks to watch: DIL, MCK, NZO, PGC, WHS, WBC Jan. 6 (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 >>
Kiwi below 76 US cts as American jobs data beats forecast
Thursday, 6 January 2011, 9:16 am | BusinessDesk
Jan. 6 (BusinessDesk) – The New Zealand dollar dropped below 76 U.S. cents for the first time in a week after American private employment data beat expectations by three times, stoking support for the greenback. More >>
Rogue exec walks free as Millennium settles China rorts
Wednesday, 5 January 2011, 6:20 pm | BusinessDesk
Jan. 5 (BusinessDesk) - A rogue executive working for a Chinese property development company one-third-owned by the Millennium & Copthorne Hotels New Zealand Ltd has escaped prosecution for unauthorised property sales which appear likely to leave ... More >>
MARKET CLOSE: NZ shares rise on first day of 2011 trading
Wednesday, 5 January 2011, 5:57 pm | BusinessDesk
Jan. 5 (BusinessDesk) - New Zealand shares rose as the market resumed normalised trading after the New Year break, with Mainfreight Ltd. pacing gainers on the exchange, while Pyne Gold Corp. fell. More >>
Heartland “bank” wins govt guarantee ahead of Friday merger
Wednesday, 5 January 2011, 3:48 pm | BusinessDesk
Jan. 5 (BusinessDesk) – This Friday’s formal creation of a new, $2.2 billion “heartland” financial institution is a crucial step closer, with the Treasury accepting the new entity into the government’s retail deposit guarantee scheme. More >>
Natural Dairy keeps Crafar farms flame alive
Wednesday, 5 January 2011, 1:55 pm | BusinessDesk
Jan. 5 (BusinessDesk) – Natural Dairy (NZ) Holdings Ltd., the Hong Kong bidder rejected by the Overseas Investment Office for the purchase of 20 dairy farms, is extending the terms of settlement for the deal to Sept. 30 as it seeks advice on ... More >>
Rank Group lifts debt further for U.S. car parts buy-out
Wednesday, 5 January 2011, 1:51 pm | BusinessDesk
Jan. 5 (BusinessDesk) – Local billionaire Graeme Hart will lift the debt component of his proposed buy-out of an American spare car parts firm by almost US$100 million. More >>
Warehouse revises earnings downwards after Xmas sales fall
Wednesday, 5 January 2011, 12:09 pm | BusinessDesk
Jan. 5 (BusinessDesk) - Warehouse Group, New Zealand's biggest listed retailer, has revised its interim earnings downwards after sales declined over the key Christmas retailing period. The shares fell 2.6% to $3.41 after the announcement. More >>
European dredgers vie for Widespread Energy work
Wednesday, 5 January 2011, 10:42 am | BusinessDesk
Jan. 5 (BusinessDesk) – NZAX-listed Widespread Energy Ltd. has selected three European dredging firms to undertake jointly funded pre-feasibility studies as the prospective Chatham Rise phosphate miner gears up towards listing in Canada or Australia by mid-year. More >>
Fonterra whole milk powder climbs to six-month high
Wednesday, 5 January 2011, 10:08 am | BusinessDesk
Jan. 5 (BusinessDesk) – The price of whole milk powder climbed to a six-month high in Fonterra Cooperative Group’s first online auction for the year. More >>
Stocks to watch: FPH, NZO, OGC, PGW, WEN, XRO
Wednesday, 5 January 2011, 9:53 am | BusinessDesk
Jan. 5 (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 >>
Dairy auction bucks trend, underpins Kiwi dollar
Wednesday, 5 January 2011, 9:22 am | BusinessDesk
Jan. 5 (BusinessDesk) – The New Zealand dollar ended its gains since Christmas as the price of many global commodities dipped. More >>
Canterbury quake to cost reinsurers US$6B, says Flagstone
Friday, 31 December 2010, 5:39 pm | BusinessDesk
Dec. 31 (BusinessDesk) – The 7.1 magnitude Canterbury earthquake is set to cost reinsurers as much as US$6 billion, with the third firm in two weeks upgrading its estimated loss. More >>
MARKET CLOSE: NZ stocks fall in year-end flurry; banks fall
Friday, 31 December 2010, 5:21 pm | BusinessDesk
Dec. 31 (BusinessDesk) – New Zealand shares fell, with stocks of Australian banks and Fletcher Building Ltd. ending the year lower. The benchmark NZX 50 Index rose 2% in 2010, recovering from a mid-year slump. More >>
Xero says surge in stock reflects upbeat outlook
Friday, 31 December 2010, 4:48 pm | BusinessDesk
Dec. 31 (BusinessDesk) – Xero Ltd., the accounting software company, says upbeat appraisals of the software sector’s outlook on a 56% surge in the stock price this month. More >>
NZ exporters may get little respite from high kiwi in 2011
Friday, 31 December 2010, 1:07 pm | BusinessDesk
Dec. 31 (BusinessDesk) – New Zealand exporters hoping for a significantly weaker currency may not get respite in 2011, with the kiwi dollar unlikely to shed much, if any, of this year’s 6.7% gain, analysts say. More >>
Stocks to watch: ALF, FPH, GPG, HGD, NZO, SKL
Friday, 31 December 2010, 9:45 am | BusinessDesk
Dec. 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 >>
