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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 1642]
Westpac NZ earnings improve as bad debts fall
Wednesday, 3 November 2010, 11:56 am | BusinessDesk
Nov. 3 (BusinessDesk) – Westpac Banking Corp.’s New Zealand unit lifted annual cash earnings 36% as it slashed its provision for bad debts, even as its interest margins shrank, eroding profitability. More >>
Stocks to watch: AIR, FPA, NPX, NZX, OBV, RBD, WFT
Wednesday, 3 November 2010, 9:42 am | BusinessDesk
Nov. 3 (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 >>
Fonterra sets processing record; milk prices flat
Wednesday, 3 November 2010, 9:42 am | BusinessDesk
Nov. 3 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, set a new peak day milk processing record in October, while prices remained firm at its fortnightly milk power auction. More >>
NZ dollar climbs above 77 US cts as Fed QE2 looms
Wednesday, 3 November 2010, 9:37 am | BusinessDesk
NZ dollar climbs above 77 US cts as Fed’s QE2 looms; RBA and India hike More >>
Windflow to seek $5 mln to back UK opportunity
Tuesday, 2 November 2010, 5:48 pm | BusinessDesk
Nov. 2 (BusinessDesk) – Two-bladed wind turbine manufacturer Windflow Technology Ltd. is to seek $5 million to underpin its marketing push into the United Kingdom, announcing a one-for-two rights issue partially underwritten by a group of founding ... More >>
NZX trading slump in October
Tuesday, 2 November 2010, 2:14 pm | BusinessDesk
Nov. 2 (BusinessDesk) – Trading volumes and value slumped on the NZX debt and equities trading platforms last month, compared to volumes for the same month a year ago. More >>
NZ Farming Systems forecasts wider loss
Tuesday, 2 November 2010, 2:11 pm | BusinessDesk
Nov. 2 (BusinessDesk) – NZ Farming Systems Uruguay Ltd., the dairy farm developer controlled by Singapore’s Olam International Ltd., said its operating loss will be about triple its budget estimate. More >>
Vital banks on more heavily insured Aussies
Tuesday, 2 November 2010, 1:09 pm | BusinessDesk
by Paul McBeth Nov. 2 (BusinessDesk) – Vital Healthcare Property Trust is banking on a bigger take-up of life insurance by Australians in a A$164.5 million purchase of 12 private hospitals and medical centres across the Tasman. More >>
Allied Work Force profit triples on new contracts
Tuesday, 2 November 2010, 12:44 pm | BusinessDesk
by Jason Krupp Nov. 2 (BusinessDesk) - Allied Work Force Group, the labour pool company which recently expanded into the healthcare and mining sectors, said profit tripled in the first half, as new labour contracts lifted sales. More >>
Private sector wage growth beats forecasts in 3Q
Tuesday, 2 November 2010, 12:03 pm | BusinessDesk
Nov. 2 (BusinessDesk) –New Zealand’s private sector wage growth beat expectations in the third quarter, with annual gains ahead of inflation in the same period. More >>
Vital to raise $150.9M for Australian assets
Tuesday, 2 November 2010, 11:07 am | BusinessDesk
Nov. 2 (BusinessDesk) – Vital Healthcare Property Trust plans to raise $150.9 million in a discounted rights issue to after agreeing to buy 12 hospitals and medical properties in its biggest ever foray into Australia. The shares tumbled 7.5% to $1.24. More >>
New Image buys controlling stake in Living Nature
Tuesday, 2 November 2010, 10:45 am | BusinessDesk
by Jason Krupp Nov. 2 (BusinessDesk) –New Image Group, which makes health tonics based on bovine colostrum, has bought a controlling stake in New Zealand-based natural skincare company Living Nature, in a move which is expected to boost production capacity ... More >>
Natural Dairy definitely in SFO's sights: Feeley
Tuesday, 2 November 2010, 10:10 am | BusinessDesk
Nov. 2 (BusinessDesk) – The confusing saga of Natural Dairy (NZ) Holdings’ tilt at dairy farms in New Zealand has taken another twist with the Serious Fraud Office scotching claims its probe doesn’t affect the Hong Kong company. More >>
Stocks to watch: CEN, FPA, NEW, NZE, PRC, TEL
Tuesday, 2 November 2010, 9:48 am | BusinessDesk
Nov. 1 (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 touches new 27-month high on upbeat data
Tuesday, 2 November 2010, 9:23 am | BusinessDesk
Nov. 2 (BusinessDesk) – The New Zealand dollar touched a 27-month high as manufacturing data in the U.S. and China stoked risk appetite. The kiwi pared its gains as investors refocused on the Federal Reserve’s quantitative easing plans. More >>
Wool leads NZ commodity prices to new high: ANZ
Monday, 1 November 2010, 3:56 pm | BusinessDesk
Nov. 1 (BusinessDesk) – New Zealand commodity prices climbed to a new high in October as wool prices surged for a second month amid increased Chinese demand for coarse fibre, according the ANZ Commodity Price Index. More >>
PFI barrels on with 99.6% occupancy
Monday, 1 November 2010, 3:53 pm | BusinessDesk
Nov. 1 (BusinessDesk) – NZX-listed Property for Industry Ltd continues to report steady earnings and high occupancy rates, in spite of the impact of the global economic recession on demand for industrial property. More >>
NZ Dollar Outlook:Kiwi direction clouded by Fed
Monday, 1 November 2010, 1:30 pm | BusinessDesk
Nov. 1 (BusinessDesk) – The New Zealand dollar faces a lot of volatility this week as the market gears up for the Federal Reserve’s second round of printing money in a bid to revive a sagging recovery. More >>
SPORTS VIEW: Donald was set up to fail
Monday, 1 November 2010, 12:45 pm | BusinessDesk
Nov. 1 - Steven Donald certainly owes Graham Henry no favours, once again Henry thrust Donald into the heat of a test and he was badly burned. Donald was the victim, not the villain in the All Blacks first loss in over a year. More >>
Mitr Phol to buy 19.9% of Maryborough from GPG
Monday, 1 November 2010, 12:17 pm | BusinessDesk
Nov. 1 (BusinessDesk) – Mitr Phol Sugar Corp., Thailand’s biggest sugar company, agreed to acquire up to 19.9% of ASX-listed Maryborough Sugar Factor Ltd. from Guinness Peat Group. More >>
