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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 1619]
NZ dollar climbs above 77 cts, fourth-best performer in 2010
Friday, 31 December 2010, 9:20 am | BusinessDesk
Dec. 31 (BusinessDesk) – The New Zealand dollar climbed above 77 U.S. cents for the first time since November as strong commodity prices underpinned support for riskier, or higher-yielding, assets, leaving the kiwi poised to be the fourth-best ... More >>
MARKET CLOSE: NZ shares rise; NZOG catches commodity wave
Thursday, 30 December 2010, 5:58 pm | BusinessDesk
Dec. 30 (BusinessDesk) - New Zealand shares rose in low-paced holiday trading. New Zealand Oil & Gas climbed 2.5%, its third daily gain, as commodity prices firmed. More >>
SFO opens probe into Bublitz’s Mutual Finance
Thursday, 30 December 2010, 12:47 pm | BusinessDesk
Dec. 30 (BusinessDesk) - The Serious Fraud Office opened a probe into the dealings of failed minor lender Mutual Finance Ltd. last week. More >>
Fast food, rubber goods shine in ho-hum year for NZX 50
Thursday, 30 December 2010, 10:50 am | BusinessDesk
Dec. 29 (BusinessDesk) – Shares of Skellerup Holdings Ltd., the rubber goods and milking equipment maker, more than doubled in 2010, making it a standout in a year when the benchmark index eked out a 2.9% gain. More >>
Stocks to watch: FBU, HGD, NZO, THL
Thursday, 30 December 2010, 9:51 am | BusinessDesk
Dec. 30 (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 climbs to four-week high amid upbeat markets
Thursday, 30 December 2010, 9:05 am | BusinessDesk
Dec. 30 (BusinessDesk) – The New Zealand dollar climbed to a four-week high against the greenback as upbeat financial markets encouraged investors to seek out riskier, or higher-yielding, assets amid thin trading volumes. More >>
MARKET CLOSE: NZ shares mixed in light trading; Rakon gains
Wednesday, 29 December 2010, 5:46 pm | BusinessDesk
Dec. 29 (BusinessDesk) - New Zealand shares were mixed in subdued holiday season trading, with the NZX 50 Index edging lower paced by Pyne Gould Corp. and Rakon Ltd. leading gainers. More >>
Tower Australia independent directors back Dai-ichi takeover
Wednesday, 29 December 2010, 1:29 pm | BusinessDesk
Dec. 29 (BusinessDesk) – Tower Australia Group Ltd.’s independent directors have unanimously endorsed a A$1.19 billion takeover offer from Japan’s Dai-ichi Life Insurance that would hand other shareholders a 47% premium from its last trading ... More >>
Whimp at it again as shareholders get low-ball offer
Wednesday, 29 December 2010, 1:25 pm | BusinessDesk
Dec. 29 (BusinessDesk) – Bernard Whimp, a businessman who offers to buy securities at low-ball prices by making a direct approach to investors, appears to have mounted a new campaign over the Christmas-New Year season to buy leading New Zealand stocks. More >>
Stocks to watch: GEL, GPG, NZO, PGC, PGW, PPL, WHS
Wednesday, 29 December 2010, 9:43 am | BusinessDesk
Dec. 29 (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 >>
Commodity currencies rise as China cuts rare earth exports
Wednesday, 29 December 2010, 9:28 am | BusinessDesk
by Paul McBeth Dec. 29 (BusinessDesk) – The New Zealand dollar followed its Australian and Canadian counterparts higher as China cut rare earth exports, while the greenback was hit by weaker U.S. data. More >>
MARKET CLOSE: NZ stocks fall, paced by AMP; Wrightson jumps
Friday, 24 December 2010, 4:52 pm | BusinessDesk
Dec. 24 (BusinessDesk) - New Zealand stocks fell as pre-Christmas inertia sapped early gains established after China's Agria Corp. and New Hope Group teamed up to take control of PGG Wrightson Ltd. Australian wealth manager AMP Ltd. paced decliners ... More >>
Wrightson says 'don't sell' pending assessment
Friday, 24 December 2010, 2:50 pm | BusinessDesk
Dec. 24 (BusinessDesk) – PGG Wrightson Ltd. has recommended shareholders hold off on accepting a 60 cents-a-share offer for control of New Zealand's biggest rural services company, pending an assessment of the deal. More >>
PFI secures new five-year $150 million banking facility
Friday, 24 December 2010, 2:25 pm | BusinessDesk
Dec. 24 (BusinessDesk) - Property for Industry, the specialised industrial property investment fund managed by AMP Capital Investors, has secured a new five-year bank debt facility of $150 million. More >>
NZX sells, writes down, stake in Appello funds unit
Friday, 24 December 2010, 2:16 pm | BusinessDesk
Dec. 24 (BusinessDesk) – NZX Ltd., which operates and regulates the stock exchange, has sold its 30% stake in funds management business Appello Services Ltd. More >>
Transpower lets Auckland contracts worth $173M
Friday, 24 December 2010, 1:00 pm | BusinessDesk
Dec. 24 (BusinessDesk) – State-owned national grid operator Transpower Ltd. has let around a third of the contracts by value for a critical part of the $500 million Auckland transmission upgrade to a group of Australian and European suppliers. More >>
Goodman Property completes debt refinancing programme
Friday, 24 December 2010, 10:29 am | BusinessDesk
Dec. 24 (December) - Goodman Property Trust, the commercial property investor, completed its debt refinancing programme with the renewal and extension of a further $357 million of facilities. More >>
ACC among investors topping up on beat-up NZOG shares
Friday, 24 December 2010, 10:24 am | BusinessDesk
Dec. 24 (BusinessDesk) - Trading volumes in New Zealand Oil & Gas Ltd. shares have been the heaviest in two years in the wake of the Pike River Coal receivership, which slashed its market value by 53%. More >>
PGC flags $30 mln loss on sale of Wrightson stake
Friday, 24 December 2010, 9:49 am | BusinessDesk
Dec. 24 (BusinessDesk) – Pyne Gould Corp., whose finance unit Marac is leading a merger with Southern Cross and Canterbury Building Societies, will book a $30 million loss in the sale of its stake in PGG Wrightson Ltd. More >>
Stocks to watch: ABA, AIA, CEN, FRE, KRK, PGC, PGW, TEL, VCT
Friday, 24 December 2010, 9:44 am | BusinessDesk
Dec. 24 (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 >>
