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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 1622]
Air NZ, Virgin Blue get green light from Joyce for alliance
Tuesday, 21 December 2010, 2:23 pm | BusinessDesk
Dec. 21 (BusinessDesk) – Air New Zealand and Virgin Blue have won approval from Transport Minister Steven Joyce to cooperate on routes across the Tasman Sea. More >>
ACC monopoly on workplace insurance to end
Tuesday, 21 December 2010, 1:29 pm | BusinessDesk
by Paul McBeth Dec. 21 (BusinessDesk) – ACC Minister Nick Smith plans to end Accident Compensation Corp.’s monopoly on workplace insurance coverage, and open it up to private providers. More >>
Abano earnings fall; company to return $27.3M
Tuesday, 21 December 2010, 1:23 pm | BusinessDesk
Dec. 21 (BusinessDesk) - Abano Healthcare Group, the specialist health clinic investor, reported a drop in first-half profit, reflecting the absence of revenue from the Bay Audiology business sold last year. The company is to return $27.3 million to ... More >>
NZX plans February launch for new dairy futures
Tuesday, 21 December 2010, 12:29 pm | BusinessDesk
Dec. 21 (BusinessDesk) – NZX Ltd., which operates the country’s stock exchange, has flagged a February launch for the next two dairy futures products. More >>
NZ employees still downbeat on jobs, see glimmers ahead
Tuesday, 21 December 2010, 11:50 am | BusinessDesk
Dec. 21 (BusinessDesk) - New Zealand employees are still downbeat on the labour market conditions, but see some glimmers of light ahead in the New Year. More >>
NZ net migration stays positive in November
Tuesday, 21 December 2010, 11:41 am | BusinessDesk
Dec. 21 (BusinessDesk) – New Zealand attracted more new migrants in November as long-term arrivals were steady, though Australia’s attraction for kiwis persists. More >>
South Port says full-year profit will exceed guidance
Tuesday, 21 December 2010, 10:06 am | BusinessDesk
Dec. 21 (BusinessDesk) - South Port New Zealand Ltd., which operates the nation’s southern-most port at Bluff, said 2011 earnings will exceed its forecast range because of increased volumes of logs exported to China and a return to normal output from ... More >>
Telecom convinces regulator to leave premium services alone
Tuesday, 21 December 2010, 10:05 am | BusinessDesk
Dec. 21 (BusinessDesk) – Telecom Corp., which will likely win a chunk of the government’s $1.35 billion roll-out of high-speed internet, won’t face regulatory shackles over its premium copper-based broadband service set to be unveiled next year. More >>
Stocks to watch: AIA, CEN, DNZ, FBU, LPC, NZS, SPN, TEL
Tuesday, 21 December 2010, 10:00 am | BusinessDesk
Dec. 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 >>
Farming Systems taps Olam for US$50 million loan
Tuesday, 21 December 2010, 9:20 am | BusinessDesk
Dec. 21 (BusinessDesk) - New Zealand Farming Systems Uruguay Ltd., the South American dairy farm developer, has tapped majority shareholder Olam International for a US$50 million loan. More >>
NZ dollar gains amid talk of French rating cut
Tuesday, 21 December 2010, 9:13 am | BusinessDesk
Dec. 21 (BusinessDesk) – The New Zealand dollar rose back above 74 U.S. cents and advanced against the euro as investors amid speculation France’s triple-A sovereign credit rating is under threat. More >>
Lyttelton Port chases cruise trade with $13.7M berth
Monday, 20 December 2010, 6:18 pm | BusinessDesk
Dec. 20 (BusinessDesk) - Lyttelton Port Co. will spend $13.7 million building a new berth for cruise ships to tap anticipated growth in visits to the South Island's biggest city. More >>
MARKET CLOSE: NZ stocks fall; Contact, Telecom pace decline
Monday, 20 December 2010, 5:58 pm | BusinessDesk
Dec. 20 (BusinessDesk) - New Zealand stocks fell, paced by Contact Energy Ltd. after the utility reported it had shed more customers. PGG Wrightson Ltd. paced gainers on the exchange rebounding after being heavily sold last week. More >>
Air NZ’s November passenger numbers rose 11%
Monday, 20 December 2010, 4:10 pm | BusinessDesk
Dec. 20 (BusinessDesk) - Air New Zealand Ltd., the national carrier, reported an 11% gain in passenger volumes last month from a year earlier, suggesting demand is returning to levels before the global financial crisis. More >>
UDC profit surges as bad loans halve
Monday, 20 December 2010, 3:56 pm | BusinessDesk
Dec. 20 (BusinessDesk) – UDC Finance Ltd., the non-bank lender owned by ANZ National Bank, posted a 570% jump in full-year profit, reflecting a reduction in provisioning for bad loans. More >>
Fletcher Building settles with Cerberus over Formica
Monday, 20 December 2010, 3:31 pm | BusinessDesk
Dec. 20 (BusinessDesk) – Fletcher Building Ltd. reached an out-of-court settlement with Cerberus Capital Management LP over $50 million of milestone payments stemming from the 2007 purchase of the Formica laminated board business. More >>
NZ Dollar Outlook: Kiwi may fall on weak GDP
Monday, 20 December 2010, 1:44 pm | BusinessDesk
Dec. 20 (BusinessDesk) – The New Zealand dollar will probably drift lower this week as expected soft third-quarter economic data puts investors off the local currency, while a stronger U.S. recovery stokes appetite for the greenback. More >>
Crane rejects Fletcher offer as too low
Monday, 20 December 2010, 12:23 pm | BusinessDesk
Dec. 20 (BusinessDesk) – Crane Group, the Australian plumbing supply chain and plastic piping company, has pooh-poohed a takeover tilt from Fletcher Building Ltd. More >>
NZ services sector slogs its way through November
Monday, 20 December 2010, 12:09 pm | BusinessDesk
Dec. 20 (BusinessDesk) - The services sector, which makes up about 70% of New Zealand's economy, remained sluggish in November and virtually unchanged from the previous month. More >>
Comvita loses U.K. patent infringement case
Monday, 20 December 2010, 11:26 am | BusinessDesk
Dec. 20 (BusinessDesk) - Comvita Ltd., the medical honey products developer, has been dealt a double blow by the Patents Country Court in the U.K., after it ruled against the company in an infringement case and declared its wounds treatment patent ... More >>
