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BusinessDesk - Latest News [Page 1631]

NZ dollar holds above 75 US cts as ECB buys sovereign debt

Friday, 3 December 2010, 9:12 am | BusinessDesk

Dec. 3 (BusinessDesk) – The New Zealand dollar held above 75 U.S. cents after fears European policy makers weren’t doing enough to quell sovereign debt problems were eased by reports the central bank was buying Portuguese and Irish government bonds. More >>

MARKET CLOSE: New Zealand stocks rise, led by ANZ, Westpac

Thursday, 2 December 2010, 6:05 pm | BusinessDesk

Dec. 2 (BusinessDesk) - New Zealand stocks rose for the second time in three sessions, lead by Australia & New Zealand Banking Group and Westpac Banking Corp., as investor appetite for riskier equities returned amid signs that the U.S. economy is clawing ... More >>

Heritage Gold gives shareholders extra time for cobalt IPO

Thursday, 2 December 2010, 5:20 pm | BusinessDesk

Dec. 2 (BusinessDesk) – Heritage Gold Ltd. is extending the time limit for shareholders to accept their preferential entitlement to shares in the initial public offering for Australian cobalt play Broken Hill Prospecting Ltd. More >>

Northern Crest posts loss after licence fee write-off

Thursday, 2 December 2010, 1:17 pm | BusinessDesk

Dec. 2 (BusinessDesk) – Northern Crest Investments Ltd., the last surviving business of Mark Bryers’ failed Blue Chip group, fell into the red this year after writing off a deal that soured in April. More >>

New Zealand housing confidence falls further: ASB

Thursday, 2 December 2010, 11:05 am | BusinessDesk

New Zealand housing confidence slid further in the three months to October, as tax changes on depreciation and the effects of the Canterbury earthquake sapped demand for property, according to ASB economists. More >>

Satara-Eastpack abandon merger after Psa outbreak

Thursday, 2 December 2010, 9:40 am | BusinessDesk

Dec. 1 (BusinessDesk) – Kiwifruit growers Satara Cooperative Group and Eastpack Ltd. have abandoned a proposed merger, with Eastpack’s credit lines drying up after the outbreak of Pseudomonas syringae pv actinidiae. More >>

Stocks to watch: AIR, CEN, GFF, KIP, SAT, SKT, WBC

Thursday, 2 December 2010, 9:39 am | BusinessDesk

Dec. 2 (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 Income agrees to buy LynnMall for $174 mln

Thursday, 2 December 2010, 9:31 am | BusinessDesk

Dec. 2 (BusinessDesk) - Kiwi Income Property Trust has agreed to buy Auckland’s LynnMall Shopping Centre from AMP Capital Property for $174 million. More >>

NZ dollar gains amid stronger global data

Thursday, 2 December 2010, 9:12 am | BusinessDesk

Dec. 2 (BusinessDesk) – The New Zealand rose as upbeat data around the world and an increase in milk powder prices in global dairy products exporter Fonterra’s online auction stoked investors’ appetite for riskier, higher-yielding assets. More >>

NZ commodity prices hit new high in November

Wednesday, 1 December 2010, 4:00 pm | BusinessDesk

Dec. 1 (BusinessDesk) – New Zealand’s commodity prices climbed to a new high as 10 of the 15 measured raw materials in the ANZ Commodity Price Index gained in November, led by a surge in the price of pelts and skins. More >>

Securities Commission ‘nodded off’ on finance companies

Wednesday, 1 December 2010, 3:52 pm | BusinessDesk

Dec. 1 (BusinessDesk) – The Securities Commission “nodded off” and failed to use a wide range of existing legal powers to tackle inadequate disclosure to investors by finance companies before many of them collapsed, says the head of one of New Zealand’s ... More >>

Phil Briggs seeks stake in King Country Energy

Wednesday, 1 December 2010, 3:34 pm | BusinessDesk

Dec. 1 (BusinessDesk) – Retired equities adviser and serial investor Philip Briggs is behind an unsolicited offer to shareholders of King Country Energy Ltd. for 2.6% of the shares in the company, at a substantial discount to its last trading price ... More >>

Kiwi rises after weak Aussie GDP

Wednesday, 1 December 2010, 2:41 pm | BusinessDesk

by Paul McBeth Dec. 1 (BusinessDesk) – The Australian economy grew at a slower-than-expected in the third quarter as exports came off the boil in the period. Australia’s gross domestic product grew 0.2% in the three months ended Sept. 30, according to the Australian ... More >>

Challenge to Financial Markets Authority 'draconian' power

Wednesday, 1 December 2010, 1:12 pm | BusinessDesk

Dec. 1 (BusinessDesk) – A draconian power allowing the new “super-regulator” Financial Markets Authority to forcibly take over an individual investor’s legal action in the public interest looks unlikely to survive the select committee process. More >>