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 1638]
APN News trims bond sale to $100M
Friday, 12 November 2010, 6:12 pm | BusinessDesk
Nov. 12 (BusinessDesk) – APN News & Media set the size of its New Zealand five-year bond sale at $100 million, half the size it had initially flagged, after setting the minimum coupon at the top end of its range to lure investors. More >>
MARKET CLOSE: NZ stocks fall led by retailers
Friday, 12 November 2010, 6:09 pm | BusinessDesk
Nov. 12 (BusinessDesk) - New Zealand stocks fell for the second time in three sessions led by retailers as the market digested a handful of earnings announcements. More >>
Fonterra looking into feasibility of Indian pilot
Friday, 12 November 2010, 5:38 pm | BusinessDesk
Nov. 12 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, is looking at opportunities in India, the world’s second-most populous nation, and has agreed to conduct a feasibility study for a pilot farm. More >>
HSBC pulls credit on Allied Farmers' Matarangi
Friday, 12 November 2010, 5:16 pm | BusinessDesk
Nov. 12 (BusinessDesk) – Allied Farmers Ltd., which took on the Hanover and United loan books in a failed bid to become a major lender, faces losing another $7 million after HSBC pulled the credit line on one of the firm’s subsidiaries. More >>
Kiwibank reliance on deposits hurts margins
Friday, 12 November 2010, 4:47 pm | BusinessDesk
Nov. 12 (BusinessDesk) – Kiwibank Ltd.’s large deposit base has hurt margins as it vies for funds in an intensely competitive market, says Moody’s Investors Service. More >>
Delegat’s ups offer for Oyster Bay by 23 cts/share
Friday, 12 November 2010, 3:22 pm | BusinessDesk
Nov. 12 (BusinessDesk) – Winemaker Delegat’s Group has lifted its takeover tilt for the 45% of Oyster Bay Marlborough Vineyards it doesn’t already own. More >>
Turners Auctions says FY profit to fall up to 11%
Friday, 12 November 2010, 3:11 pm | BusinessDesk
Turners Auctions says FY profit to fall as much as 11% on weak used car sales More >>
Cabinet minister Wong steps down over travel perk
Friday, 12 November 2010, 2:25 pm | BusinessDesk
Nov. 12 (BusinessDesk) – Cabinet Minister Pansy Wong gave up her portfolios in the executive after it was discovered she misused her Parliamentary travel perk. More >>
Northern Crest finally leaves NZ after paying bill
Friday, 12 November 2010, 1:57 pm | BusinessDesk
The last surviving business of Mark Bryers’ failed Blue Chip group, Northern Crest Investments, will close its New Zealand office and relocate across the Tasman after settling outstanding bills with property mogul Bob Jones. More >>
Working Group advocates income tax cut, higher GST
Friday, 12 November 2010, 10:52 am | BusinessDesk
Nov. 12 (BusinessDesk) – A lower top tax rate and higher consumption tax are the easiest and cheapest ways to boost the country’s poor savings record, according to the Savings Working Group. More >>
Infratil to sell more ‘infrastructure’ bonds
Friday, 12 November 2010, 10:21 am | BusinessDesk
Nov. 12 (BusinessDesk) - Infratil Ltd. is preparing to sell more ‘infrastructure’ bonds to repay existing debt and lengthen its maturity profile. More >>
Kiwi Income wears $143.9 mln tax depreciation bill
Friday, 12 November 2010, 10:09 am | BusinessDesk
Nov. 12 (BusinessDesk) – Kiwi Income Property Trust, the country’s biggest listed property investor, had to wear a $143.9 million tax bill as part of the government’s changes to rules on claiming depreciation, though the hit may be reversible. More >>
Warehouse sales growth stalls in 1st qtr
Friday, 12 November 2010, 9:54 am | BusinessDesk
Nov. 12 (BusinessDesk) – Warehouse Group said sales growth stalled in the first quarter as the biggest retailer on the NZX 50 grappled with falling sales of CDs and DVDs and weak consumer demand. More >>
Stocks to watch: HBY, SAN, STU, TEL, TPW, WHS
Friday, 12 November 2010, 9:47 am | BusinessDesk
Nov. 12 (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 >>
Telecom and Vodafone team up for rural broadband
Friday, 12 November 2010, 9:18 am | BusinessDesk
Nov. 12 (BusinessDesk) - Telecom Corp. and Vodafone New Zealand Ltd., New Zealand’s two major mobile operators, today submitted a joint bid for the $300 million rural broadband initiative. More >>
NZ dollar falls below 78 US cts on Irish debt
Friday, 12 November 2010, 9:15 am | BusinessDesk
Nov. 12 (BusinessDesk) – The New Zealand dollar dropped below 78 U.S. cents as investors’ fears over the state of Ireland’s sovereign debt heightened amid increasing opposition for a region-wide bail-out from France and Germany. More >>
Heritage Gold’s 28%-owned Broken Hill up for IPO
Thursday, 11 November 2010, 5:45 pm | BusinessDesk
Nov. 11 (BusinessDesk) - Broken Hill Prospecting, which holds licences over mineral deposits in the ore bearing Broken Hill region of Australia, plans to sell up to A$9 million of shares that trade on the ASX and the NZX. More >>
Limits of kiwifruit infection still being probed
Thursday, 11 November 2010, 2:51 pm | BusinessDesk
Nov. 11 (BusinessDesk) – MAF Biosecurity New Zealand officials and Zespri Group are still unsure as to the scale of the Pseudomonas syringae pv. Actinidae (Psa) infection. More >>
Regulator looks to extend phone number portability
Thursday, 11 November 2010, 1:28 pm | BusinessDesk
Nov. 11 (BusinessDesk) – The Commerce Commission is looking to push out for another six years its ruling that lets people take their mobile phone number when they change carriers. More >>
Xero shares rise to new record, 1H sales surge
Thursday, 11 November 2010, 1:03 pm | BusinessDesk
Nov. 11 (BusinessDesk) - Shares in Xero Ltd. rose to a record after the online accounting services company posted first-half results that showed revenue almost tripled. More >>
