Scoop has an Ethical Paywall
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 1626]
Prospects for NZ covered bond market encouraging: Moody's
Tuesday, 14 December 2010, 11:43 am | BusinessDesk
The signs are encouraging a covered bond market will develop in New Zealand, providing banks with a useful funding tool which may cost them less than their senior secured or unsecured debt, says the credit rating agency, Moody's Investors Service. More >>
Restaurant Brands sees sales rise on strong KFC performance
Tuesday, 14 December 2010, 11:19 am | BusinessDesk
Dec. 14 (BusinessDesk) - Restaurant Brands NZ Ltd., the fast food franchises owner, reported a 1.8% increase in third quarter sales, again led by a strong performance at its KFC franchise. More >>
NZ house sales rebound from October low point: REINZ
Tuesday, 14 December 2010, 10:51 am | BusinessDesk
Dec. 14 (BusinessDesk) – New Zealand’s residential house sales bounced back last month from October’s trough, though they’re still subdued as people continue to repay debt rather than ramp up their spending. More >>
Skellerup jumps 5.1% on replacing Pike River in NZX 50
Tuesday, 14 December 2010, 10:44 am | BusinessDesk
Dec 14 (BusinessDesk) - Skellerup Holdings, the rubber goods and milking equipment group, will soon be joining New Zealand's biggest listed companies the NZX 50 index after Pike River Coal Ltd. was placed in receivership. More >>
Dollar holds key to recovery outlook: consensus forecast
Tuesday, 14 December 2010, 10:06 am | BusinessDesk
Dec. 14 (BusinessDesk) – “Wildly diverging” views about the value of the New Zealand dollar over the next three years represent one of the biggest influences on both the speed of domestic economic recovery and the return of an uncomfortably ... More >>
Stocks to watch: AIR, BTU, MVN, NZS, NZO, VCT
Tuesday, 14 December 2010, 9:29 am | BusinessDesk
by Jason Krupp Dec. 14 (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 jumps 1.1% as China veers away from rate hike
Tuesday, 14 December 2010, 9:12 am | BusinessDesk
Dec. 14 (BusinessDesk) – The New Zealand dollar jumped almost one US cent as investors sought riskier, higher-yielding assets after the People’s Bank of China backed away from hiking interest rates to rein in its growing economy. More >>
Budget deficit forecast to be “at the outer limit,” says Key
Monday, 13 December 2010, 6:23 pm | BusinessDesk
Dec. 13 (BusinessDesk) – Tomorrow’s half-year update on the government’s books will show a cash deficit well in excess of the already massive $13.3 billion deficit forecast in the Budget in May. More >>
MARKET CLOSE: NZ share rise; Telecom paces gainers on UFB
Monday, 13 December 2010, 5:57 pm | BusinessDesk
Dec. 13 (BusinessDesk) - New Zealand stocks rose with Telecom Corp. accounting for much of the activity on the exchange today after it was tipped as one of the prioritised bidders to build government's ultrafast broadband network. More >>
Fairfax grabs Kiwi tender site
Monday, 13 December 2010, 4:30 pm | BusinessDesk
Dec. 13 (BusinessDesk) – Fairfax Media Ltd., the Australian parent of Trade Me, and The Dominion Post and Press newspapers, has bought the Southern Hemisphere’s biggest tender notification service. More >>
Treasury seeks new head
Monday, 13 December 2010, 4:00 pm | BusinessDesk
Dec. 13 (BusinessDesk) – The most influential public service job in the land is up for grabs, with the State Services Commission advertising today for applications to take over as Secretary to the Treasury when incumbent John Whitehead retires next ... More >>
NZ Farming Systems CEO to depart
Monday, 13 December 2010, 1:17 pm | BusinessDesk
Dec. 13 (BusinessDesk) - NZ Farming Systems Uruguay says chief executive Alastair de Raadt will leave the company when his contract expires on Jan. 31 next year. More >>
NZ Dollar Outlook: Kiwi to fall on rising US interest rates
Monday, 13 December 2010, 1:02 pm | BusinessDesk
Dec. 13 (BusinessDesk) – The New Zealand dollar will probably head lower this week as the prospect of rising American interest rates cuts the kiwi’s appeal ahead of the Federal Open Market Committee meeting on Tuesday in the U.S. More >>
Pike River Coal placed in receivership as insolvency looms
Monday, 13 December 2010, 12:48 pm | BusinessDesk
Dec. 13 (BusinessDesk) – Pike River Coal Ltd., whose main asset was devastated in a deadly series of explosions, has been placed in receivership by major shareholder New Zealand Oil & Gas. More >>
Perpetual declines waiver for Irongate, reserves position
Monday, 13 December 2010, 12:20 pm | BusinessDesk
Dec. 13 (BusinessDesk) - Irongate Property Ltd., one of the units of the St Laurence group that escaped receivership, posted a first-half loss, said its trustee has declined to grant a waiver for two breaches of its Trust Deed More >>
NZ November food prices fall on vegetable supply
Monday, 13 December 2010, 11:57 am | BusinessDesk
Dec. 13 (BusinessDesk) - The typical increase in supply of seasonal vegetables has been the main contributor to an overall 0.6% fall in the November food price index. More >>
Spotless consortium in biggest ever win
Monday, 13 December 2010, 11:56 am | BusinessDesk
Dec. 13 (BusinessDesk) - Cleaning, catering and building maintenance provider Spotless Group has won its largest ever contract, as part of a consortium chosen as preferred builder and operator of the New Royal Adelaide Hospital. More >>
Telecom matches $40 per month, enters UFB negotiations
Monday, 13 December 2010, 10:27 am | BusinessDesk
Dec. 13 (BusinessDesk) – Telecom Corp. has met the government’s demands for $40 per month “naked” ultra-fast broadband to win status as a preferred bidder for the $1.35 billion UFB revolving fund. More >>
Stocks to watch: AIA, FPA, NZO, PGC, TEL, WBC
Monday, 13 December 2010, 9:57 am | BusinessDesk
Dec. 13 (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 Oil & Gas stock halted for statement
Monday, 13 December 2010, 9:50 am | BusinessDesk
Dec. 13 (BusinessDesk) – New Zealand Oil & Gas, whose shares have shed 30% of their value in the wake of the Pike River Coal mine explosions, had its stock halted pending a material statement. More >>
