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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 1629]
Delegat’s gets to 74% of Oyster Bay
Tuesday, 7 December 2010, 5:35 pm | BusinessDesk
Delegat’s gets to 74% of Oyster Bay, shareholders get hurry-up from chairman Maier More >>
RBA holds key rate unchanged, says settings 'above average'
Tuesday, 7 December 2010, 5:09 pm | BusinessDesk
Dec. 7 (BusinessDesk) – The Reserve Bank of Australia kept its target cash rate at 4.75%, as expected, with Governor Glenn Stevens saying monetary policy is “appropriate for the economic outlook.” More >>
Widespread completes Chatham Rise work programme
Tuesday, 7 December 2010, 4:38 pm | BusinessDesk
Dec. 7 (BusinessDesk) – Widespread Energy Ltd. said preliminary work on the Chatham Rise Rock Phosphate project has been completed two months ahead of schedule and presentations are underway to overseas brokerages about an initial public offering. More >>
Retirement Commissioner puts pension age back on the agenda
Tuesday, 7 December 2010, 4:20 pm | BusinessDesk
Dec. 7 (BusinessDesk) – Retirement Commissioner Diana Crossan has put the pension age back on the political agenda in her latest report on retirement policy. More >>
NZ spending rises in November as Christmas looms: Paymark
Tuesday, 7 December 2010, 3:12 pm | BusinessDesk
Dec. 7 (BusinessDesk) – New Zealanders’ spending rose last month as retailers gear up for the Christmas trading season. More >>
ANZ to target SME lending and education in 2011
Tuesday, 7 December 2010, 2:47 pm | BusinessDesk
ANZ to target SME lending and education in 2011 Dec. 7 (BusinessDesk) ANZ New Zealand plans to lend $3 billion to small and medium-sized businesses in 2011, on top of the expected $3.5 million needed to refinance existing customers. More >>
May Wang undermines insolvency regime, Judge says
Tuesday, 7 December 2010, 2:16 pm | BusinessDesk
Dec. 7 (BusinessDesk) – Auckland businesswoman May Wang undermined the “integrity and efficacy of the insolvency regime” as she unsuccessfully tried to stave off a bankruptcy bid, according to a High Court judgement. More >>
Powerco secures five-year bank facility to redeem bonds
Tuesday, 7 December 2010, 2:05 pm | BusinessDesk
Dec. 7 (BusinessDesk) - Electricity and gas lines company Powerco has secured a $100 million five-year revolving cash facility from its banking syndicate which it will used to repay bonds maturing next March. More >>
NZ property value slide begins to slow: QV
Tuesday, 7 December 2010, 1:24 pm | BusinessDesk
Dec. 7 (BusinessDesk) – New Zealand property values fell for an eighth straight month though the rate of decline is easing, which may be a sign the market is beginning to stabilize, according to the government valuer, QV. More >>
Southern Cross depositors support merger
Tuesday, 7 December 2010, 12:54 pm | BusinessDesk
Dec. 7 (BusinessDesk) – Southern Cross Building Society investors holding almost 83% of the lender’s deposits voted in favour of the bid to link up with Pyne Gould Corp.’s Marac unit and Canterbury Building Society. More >>
New Image buys kiwi biotech company Somnaceutics
Tuesday, 7 December 2010, 12:51 pm | BusinessDesk
Dec. 7 (BusinessDesk) - New Image Group, which makes health tonics from bovine colostrum, has continued it acquisition spree with the purchase of biotech company Somnaceutics Ltd. More >>
Hallenstein sales growth stalls in first 4 months
Tuesday, 7 December 2010, 12:26 pm | BusinessDesk
Dec. 7 (BusinessDesk) – Hallenstein Glasson Holdings, the clothing retailer, said sales growth stalled in the first four months of the financial year as a hike in local consumption tax and rising Australian interest rates cut demand. More >>
KPMG's Wilkinson censured over lack of audit disclosure
Tuesday, 7 December 2010, 12:15 pm | BusinessDesk
Dec. 7 (BusinessDesk) – Bill Wilkinson, a partner at KPMG specialising in insurance and investment funds, has been censured and fined for lack of documentation in the audit of a company’s financial statements. More >>
RBNZ pushes for power of veto over big bank purchases
Tuesday, 7 December 2010, 11:13 am | BusinessDesk
Dec. 7 (BusinessDesk) – The Reserve Bank of New Zealand is pressing for the power of veto over significant purchases by the country’s banks. More >>
Former Fonterra exec Andy Eakin named CFO at Goodman (NZ)
Tuesday, 7 December 2010, 11:07 am | BusinessDesk
Dec. 7 (BusinessDesk) – Goodman (NZ) Ltd., the manager of Goodman Property Trust, named Andy Eakin as chief financial officer, replacing George Crawford. More >>
Stocks to watch: CEN, FPH, JTM, OGC, PGC, TEL
Tuesday, 7 December 2010, 9:41 am | BusinessDesk
Dec. 6 (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 >>
UFB partners named for Northland and central North Island
Tuesday, 7 December 2010, 9:28 am | BusinessDesk
Dec. 7 (BusinessDesk) - Crown Fibre Holdings, the government's negotiating entity to roll-out its ultra-fast broadband network, has announced its first two regional partners for Northland and the central North Island. More >>
NZ dollar declines as Euro debt in focus
Tuesday, 7 December 2010, 9:14 am | BusinessDesk
Dec. 7 (BusinessDesk) – The New Zealand dollar fell as risk-sensitive assets took a hit amid reports Germany is rejecting calls to expand the European Union’s emergency bail-out fund. More >>
MARKET CLOSE: NZ stocks rise; Telecom, Contact gain
Monday, 6 December 2010, 5:56 pm | BusinessDesk
Dec. 6 (BusinessDesk) - New Zealand stocks rose for the second time in three sessions. Telecom Corp. and Contact Energy Ltd. paced gainers, while Kathmandu Holdings fell. More >>
Chinese imports put local nail manufacturer at risk
Monday, 6 December 2010, 5:04 pm | BusinessDesk
Dec. 6 (BusinessDesk) – Chinese nail manufacturers are undercutting a New Zealand producer who has called in the Ministry of Economic Development to probe the sector’s pricing. More >>
