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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 1628]
UPDATE: Bollard not expected to hike rates until mid-2011
Thursday, 9 December 2010, 10:25 am | BusinessDesk
Dec. 9 (BusinessDesk) – Reserve Bank Governor Alan Bollard isn’t expected to start hiking interest rates again until the middle of next year after he held the official cash rate at 3% today. The kiwi dollar fell after the statement. More >>
Stocks to watch: GMT, NZO, PGC, SCT, TWR, WTL
Thursday, 9 December 2010, 9:40 am | BusinessDesk
Dec. 9 (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 >>
Bollard holds OCR at 3%, flags slower path for rate rises
Thursday, 9 December 2010, 9:13 am | BusinessDesk
Dec. 9 (BusinessDesk) – Reserve Bank Governor Alan Bollard held the official cash rate at 3%, as expected, and said future hikes in interest rates will be slower than previously predicted. The kiwi dollar dropped almost half a U.S. cent. More >>
Kiwi dollar falls before RBNZ statement
Thursday, 9 December 2010, 8:42 am | BusinessDesk
Dec. 9 (BusinessDesk) - The New Zealand dollar fell ahead of the Reserve Bank’s review of monetary policy as speculation the U.S. will extend Bush-era tax cuts for another two years helped lift the greenback. More >>
Solid Energy’s lignite should “remain in the ground": PCE
Thursday, 9 December 2010, 7:26 am | BusinessDesk
by Pattrick Smellie Dec. 9 (BusinessDesk) – State-owned coal miner Solid Energy’s plans to turn low-grade Southland lignite coal deposits into massive new industries “make no sense” and the coal should “remain in the ground”, says a report ... More >>
Windflow raises $3.3mln in $5.4mln capital-raising bid
Wednesday, 8 December 2010, 5:47 pm | BusinessDesk
Dec. 8 (BusinessDesk) – Two-blade wind turbine manufacturer Windflow Technology Ltd. says it can turn to potential private investors if it needs to top up after raising $3.3 million in an offer to existing shareholders for $5.4 million in a one-for-two ... More >>
Securities Commission stamps on illegal offer
Wednesday, 8 December 2010, 2:55 pm | BusinessDesk
Dec. 8 (BusinessDesk) - The Securities Commission has banned a website and required removal of its content for a New Zealand company seeking public funds to build gasification plant in New Zealand to generate electricity. More >>
Serious Fraud Office poised to make ‘Ponzi scheme’ arrest
Wednesday, 8 December 2010, 1:00 pm | BusinessDesk
Dec. 8 (BusinessDesk) – The Serious Fraud Office is to lay charges against an individual in a multi-million dollar fraud case tomorrow, the director told MPs at a select committee today. More >>
Northland declared drought zone
Wednesday, 8 December 2010, 12:33 pm | BusinessDesk
Dec. 8 (BusinessDesk) - Climatologists are still expecting a normal to wetter than normal summer for the Northland area that has just been declared a medium-level drought zone by Agriculture Minister David Carter. More >>
NZ manufacturing volumes drop to lowest level in 10 years
Wednesday, 8 December 2010, 11:42 am | BusinessDesk
Dec. 8 (BusinessDesk) - New Zealand manufacturing volumes have fallen for the third consecutive quarter, their lowest level in more than 10 years, lead by declines in the paper and chemical sectors. More >>
NZ home building stalls in September quarter
Wednesday, 8 December 2010, 11:13 am | BusinessDesk
Dec. 8 (BusinessDesk) – The value of new home building stalled in the September quarter amid a slowdown in the economic recovery as households focus on repaying debt. More >>
Goodman Property buys Carter plant for $12.5M
Wednesday, 8 December 2010, 10:46 am | BusinessDesk
Dec. 8 (BusinessDesk) - Goodman (NZ) Ltd., the manager of Goodman Property Trust, agreed to acquire a Christchurch property occupied by Carter Holt Harvey Packaging for $12.5 million. More >>
Forsyth Barr in regulator sights over sales of Credit Sails
Wednesday, 8 December 2010, 10:15 am | BusinessDesk
Dec. 8 (BusinessDesk) – The Commerce Commission has launched a probe into brokerage Forsyth Barr’s role in the sale of a failed NZX-listed security known as Credit Sails. More >>
NZ dairy dollars flow to rest of economy, NZIER says
Wednesday, 8 December 2010, 10:05 am | BusinessDesk
Dec. 8 (BusinessDesk) – New Zealand’s 4.4 million cows are providing 26% of New Zealand's exports, and the money earned flows right through the economy to urban communities, according to a report commissioned by Fonterra Cooperative Group and ... More >>
Stocks to watch: ANZ, DGL, HLG, MVN, NZO, PGC, TEL
Wednesday, 8 December 2010, 9:37 am | BusinessDesk
Dec. 8 (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 slips ahead of RBNZ review, Irish budget
Wednesday, 8 December 2010, 9:09 am | BusinessDesk
Dec. 8 (BusinessDesk) – The New Zealand dollar declined amid pessimism Ireland will be able to implement its tough budget stripping 15 billion euros of government spending over the next four years. More >>
Telecom/Vodafone, Tortoro, FX Networks on rural shortlist
Wednesday, 8 December 2010, 8:48 am | BusinessDesk
Dec. 8 (BusinessDesk) – Torotoro Waea, FX Networks/OpenGate and Telecom/Vodafone are the three groups shortlisted for the government’s $300 million rural broadband initiative. More >>
MARKET CLOSE: NZ stocks fall; Hallenstein leads decline
Tuesday, 7 December 2010, 6:03 pm | BusinessDesk
Dec. 7 (BusinessDesk) - New Zealand stocks fell. Hallenstein Glasson Holdings paced decliners after higher sales taxes and softer demand eroded revenues, while Pyne Gould Corp. rose. More >>
Treasury ready to advise on privatisation options
Tuesday, 7 December 2010, 6:01 pm | BusinessDesk
Dec. 7 (BusinessDesk) – The Treasury is sitting on advice to the government about options for selling state assets, and is just waiting to be asked to produce it for the Cabinet to consider. More >>
Australian-owned NZ companies still using disputed tax lurk
Tuesday, 7 December 2010, 5:55 pm | BusinessDesk
Dec. 7 (BusinessDesk) – Australian-owned New Zealand companies are continuing to claim tax deductions against Optional Convertible Notes, which the Inland Revenue Department has ruled are tax avoidance. More >>
