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 1632]
Hart’s Rank Group gets into U.S. car parts
Tuesday, 30 November 2010, 1:53 pm | BusinessDesk
by Paul McBeth Nov. 30 (BusinessDesk) – Fresh from finishing his biggest deal ever, billionaire Graeme Hart has launched another leveraged buy-out, this time for U.S. vehicle replacement parts manufacturer UCI International Inc. More >>
'Mistakes made' Allied Farmers tells shareholders
Tuesday, 30 November 2010, 12:35 pm | BusinessDesk
Nov. 30 (BusinessDesk) – Allied Farmers Ltd. managing director Rob Alloway admitted to shareholders today that “mistakes have been made which the board and management acknowledge.” More >>
Sluggish trans-Tasman economies to weigh on Abano
Tuesday, 30 November 2010, 11:52 am | BusinessDesk
Sluggish trans-Tasman economies to weigh on Abano Nov. 30 (BusinessDesk) - Abano Healthcare expects first-half underlying net earnings will be between $2.6 million and $2.9 million but its second-half results will be well down on that. More >>
NZ home building consents fall for fourth straight month
Tuesday, 30 November 2010, 11:44 am | BusinessDesk
Nov. 30 (BusinessDesk) - New Zealand's residential property sector stayed the doldrums last month as the lacklustre pace of the economic recovery continued to put pressure on new building permits. More >>
Wellington Drive shares more than halve, looks for cash
Tuesday, 30 November 2010, 11:07 am | BusinessDesk
Nov. 30 (BusinessDesk) - Shares in Wellington Drive Technologies Ltd., the manufacturer of highly efficient brushless electric motors for the commercial refrigeration and ventilation markets, fell 60% to 3 cents after it said it was looking to raise $8.4 ... More >>
Aussies give up apple fight after WTO ruling
Tuesday, 30 November 2010, 9:59 am | BusinessDesk
Nov. 30 (BusinessDesk) – Australia’s federal trade and agriculture Ministers say the country has no choice but to accept they have lost the long-running bid to ban imports of New Zealand apples. More >>
Irongate posts first-half loss of $13.9M on revaluations
Tuesday, 30 November 2010, 9:53 am | BusinessDesk
Nov. 30 (BusinessDesk) - Irongate Property Ltd., one of the units of the St Laurence group that escaped receivership, posted a first-half loss, which it attributed to the cost of property sales, revaluations and loan provisions. More >>
Stocks to watch: ALF, ARG, AIA, RNS, RYM, TLS, TUR
Tuesday, 30 November 2010, 9:28 am | BusinessDesk
Nov. 30 (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 heads for monthly decline
Tuesday, 30 November 2010, 9:26 am | BusinessDesk
Nov. 30 (BusinessDesk) – The New Zealand dollar is heading for its first monthly decline since August as investors’ nerves over the European sovereign debt crisis shifts its focus to Portugal. More >>
NZ Super Fund grows for third month, still lags target
Monday, 29 November 2010, 2:59 pm | BusinessDesk
Nov. 29 (BusinessDesk) – The New Zealand Superannuation Fund has reported its third straight monthly gain in October, growing $454.9 million. More >>
Pike River could reopen before royal commission reports
Monday, 29 November 2010, 2:56 pm | BusinessDesk
Nov. 29 (BusinessDesk) – The royal commission of inquiry into the Pike River coal mine disaster faces inevitable delays while Labour Department, police and other official inquiries take place, Prime Minister John Key warned today. More >>
Charlie’s founders Lepionka, Ellis, Neal sell down holdings
Monday, 29 November 2010, 12:24 pm | BusinessDesk
Nov. 29 (BusinessDesk) – Founders of Charlie’s Group Ltd. have taken advantage of a surge in the juicemaker’s shares to sell down their holdings, saying they’re not as young or carefree as they used to be. The shares fell to the sale price today. More >>
Methven cuts full-year guidance, earnings growth to stall
Monday, 29 November 2010, 10:07 am | BusinessDesk
Nov. 29 (BusinessDesk) – Methven Ltd., the tapware and bathroom supplies manufacturer, cut its full-year guidance, saying earnings growth will stall because the economic recovery is grinding slower than expected. More >>
Spencer family’s Equitable Mortgages calls in receiver
Friday, 26 November 2010, 7:45 pm | BusinessDesk
Nov. 26 (BusinessDesk) – Equitable Mortgages Ltd., the deposit taking arm of the Spencer family’s lending group, has called in the receiver after failing to wind down the business. More >>
Third explosion at Pike River mine
Friday, 26 November 2010, 5:32 pm | BusinessDesk
Nov. 26 (BusinessDesk) – A third explosion has reportedly rocked the Pike River coal mine, almost a week to the minute after the initial blast. More >>
MARKET CLOSE: NZ shares fall in quiet trading; FPA drops
Friday, 26 November 2010, 5:28 pm | BusinessDesk
Nov. 26 (BusinessDesk) – New Zealand shares fell for a second day, in a subdued session in the wake of the U.S. Thanksgiving Day holiday. Fisher & Paykel Appliances fell after cutting its guidance and Kathmandu Holdings gained on optimism about the ... More >>
SFO gives up pursuing Nathans Finance parent
Friday, 26 November 2010, 4:24 pm | BusinessDesk
by Paul McBeth Nov. 26 (BusinessDesk) – The Serious Fraud Office has given up its pursuit of VTL Group, the parent of failed lender Nathans Finance Ltd. More >>
Fourth-fifths of Aorangi borrowers aren’t paying interest
Friday, 26 November 2010, 2:52 pm | BusinessDesk
Nov. 26 (BusinessDesk) – Four-fifths of borrowers of Allan Hubbard’s Aorangi Securities Ltd. aren’t making interest payments on their loans and the firm’s cash collection is behind target, say the statutory managers. More >>
At last: fund managers’ fees you can understand
Friday, 26 November 2010, 2:03 pm | BusinessDesk
Nov. 25 (BusinessDesk) – The funds management industry will try and win back public trust by radically simplifying and standardising how their fees affect savings investments. From April next year, all fund managers will have to show how their fees would affect ... More >>
Silver Fern posts FY loss on high dollar, lack of livestock
Friday, 26 November 2010, 1:23 pm | BusinessDesk
Nov. 26 (BusinessDesk) - Silver Fern Farms, the meat company that has proposed a return to merger talks with rival Alliance Group, posted a full-year operating loss as margins were squeezed by a strong kiwi dollar and reduced lamb numbers. More >>
