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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 1627]
NZ dollar falls after strong US data, China tightens lending
Monday, 13 December 2010, 9:34 am | BusinessDesk
Dec. 13 (BusinessDesk) – The New Zealand dollar fell below 75 U.S. cents as stronger-than-expected American data stoked investors’ appetite for the greenback, while tighter lending criteria for Chinese banks eroded demand for commodity currencies like the kiwi and ... More >>
Telecom wins box seat for chunk of UFB
Monday, 13 December 2010, 9:23 am | BusinessDesk
Telecom wins box seat for chunk of UFB; Enabled Networks and Flute JV flagged for South Island More >>
MARKET CLOSE: NZX 50 falls; SkyCity, Telecom, FBU dominate
Friday, 10 December 2010, 5:46 pm | BusinessDesk
Dec.10 (BusinessDesk) - New Zealand shares fell, in a day dominated by trading in SkyCity Entertainment Group, Telecom Corp. and Fletcher Building Ltd. following on from reported portfolio changes yesterday. More >>
"Heartland” bank gets final thumbs up from depositors
Friday, 10 December 2010, 5:32 pm | BusinessDesk
"Heartland” bank gets final thumbs up from depositors Dec. 10 (BusinessDesk) New Zealand's "heartland bank" is one step closer to becoming a reality after CBS Canterbury depositors gave the thumbs up to the $2.2 billion merger with ... More >>
SFO delays decision on probe into Hubbard empire
Friday, 10 December 2010, 2:45 pm | BusinessDesk
Dec. 10 (BusinessDesk) – The Serious Fraud Office has delayed a decision on its investigation into Alan Hubbard’s business empire until the New Year after his lawyers sought more time to respond. More >>
Jean Jones demise caught up in latest SFO probe
Friday, 10 December 2010, 2:41 pm | BusinessDesk
Dec. 10 (BusinessDesk) – The swirl of official investigations surrounding failed finance company Rockforte is growing, with the Serious Fraud Office confirming a probe that will almost certainly shed light on the failure of the Jean Jones clothing ... More >>
SkyCity says Auckland gaming machine revenue up 5%
Friday, 10 December 2010, 12:44 pm | BusinessDesk
Dec. 10 (BusinessDesk) - SkyCity Entertainment Group says Auckland gaming machine revenue is starting to respond to “effective marketing, promotional and customer initiatives” after showing no sustained growth over the past five years. More >>
October guest nights fall; hotels are the bright spot
Friday, 10 December 2010, 11:55 am | BusinessDesk
Dec. 10 (BusinessDesk) - New Zealand guest nights declined for a second month, with hotels the only bright spot on the October accommodation survey. More >>
Govt pledges $7.2mln for Weta Digital R&D
Friday, 10 December 2010, 11:12 am | BusinessDesk
Dec. 10 (BusinessDesk) – Wellington’s film industry is getting a further boost of government funding, with special effects workshop Weta Digital one of six fast-growing, high-tech companies awarded $7.2 million each under the new Technology Development ... More >>
Fonterra lifts forecast milk pay-out by 30 cents
Friday, 10 December 2010, 10:08 am | BusinessDesk
Dec. 10 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, has lifted its forecast pay-out to farmers by 30 cents per kilogram of milk solids (kgMS) as international prices stay buoyant. More >>
Stocks to watch: DGL, GPG, NZO, OGC, PGG, WHS
Friday, 10 December 2010, 9:42 am | BusinessDesk
Dec. 10 (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 dollar holds near decade-low against Aussie
Friday, 10 December 2010, 9:28 am | BusinessDesk
Dec. 10 (BusinessDesk) – The New Zealand dollar held near a decade-low against its Australian counterpart as the so-called ‘lucky country’ created more jobs than expected last month, while the Reserve Bank of New Zealand gave a more pessimistic ... More >>
Brierley steps down as GPG chairman, stays on board
Friday, 10 December 2010, 8:39 am | BusinessDesk
Dec. 10 (BusinessDesk) – Ron Brierley has handed over the reins of Guinness Peat Group, relinquishing his role as chairman, though he’s staying on the board. More >>
Broadlands Finance credit rating cut to ‘B’
Thursday, 9 December 2010, 6:21 pm | BusinessDesk
Dec. 9 (BusinessDesk) – Broadlands Finance Ltd., the auto-financier controlled by Tony Radisich, had its credit rating cut two notches to B by Standard & Poor’s as the post-government-guarantee finance sector gets shakier. More >>
Cabinet boosts ministerial powers over foreign investment
Thursday, 9 December 2010, 5:13 pm | BusinessDesk
Dec. 9 (BusinessDesk) – The Cabinet has approved tweaks to the regulations on foreign investment, increasing ministerial power to consider wider issues of economic benefit when assessing deals. More >>
SFO charges Capital + Merchant founders Nicholls, Douglas
Thursday, 9 December 2010, 2:43 pm | BusinessDesk
Dec. 9 (BusinessDesk) – The Serious Fraud Office has arrested and charged the founders of Capital + Merchant Finance Ltd. alleging misuse of funds raised to develop property in Palmerston North. In its second swoop today, the white collar crime investigator ... More >>
Buller coal mine developer Bathurst strikes sales deal
Thursday, 9 December 2010, 2:06 pm | BusinessDesk
Dec. 9 (BusinessDesk) - Dual Australia and New Zealand-listed Bathurst Resources, which is developing an open-cut coal mine in the Buller district of the South Island, said it has reached a finance, sales and marketing agreement with Stemcor, the world's ... More >>
SFO charges financial planners over $15 mln ‘Ponzi scheme’
Thursday, 9 December 2010, 1:02 pm | BusinessDesk
Dec. 9 (BusinessDesk) – The Serious Fraud Office is prosecuting two financial planners over what it has described as a “Ponzi scheme” involving $15 million. More >>
Natural Dairy dumps vice-chairman, ponders Crafar move
Thursday, 9 December 2010, 11:56 am | BusinessDesk
Dec. 9 (BusinessDesk) – Natural Dairy (NZ) Holdings has dumped vice-chairman Graham Chin, leaving a question mark over his statements that the Hong Kong company is mulling options for its stalled bid to buy the Crafar dairy farms. More >>
NZ card spending continues to rise in November
Thursday, 9 December 2010, 11:37 am | BusinessDesk
Dec. 9 (BusinessDesk) - New Zealand consumers loosened their hold on their wallets last month, spending more on credit and debit cards amid signs that the economy is improving. More >>
