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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 1643]
Green light for Contact’s Tauhara geothermal plans
Monday, 1 November 2010, 12:10 pm | BusinessDesk
Nov. 1 (BusinessDesk) – Contact Energy Ltd. is the first beneficiary of a fast-tracked resource consent process under the new Environmental Protection Authority, winning draft approval for its 250 Megawatt Tauhara geothermal power station project. More >>
DNZ sells two more properties
Monday, 1 November 2010, 10:17 am | BusinessDesk
Nov. 1. (BusinessDesk) - DNZ Property Fund Ltd., the diversified property investor which recently joined the NZX 50 Index, has sold another two of its properties for $20.7 million, with the proceeds of the sale used to pay off bank debt. More >>
Stocks to watch: ARG, DNZ, NZX, PGC, SKC, VHP
Monday, 1 November 2010, 9:38 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 hits 27-month high ahead of QE2
Monday, 1 November 2010, 9:25 am | BusinessDesk
Nov. 1 (BusinessDesk) – The New Zealand dollar rose to a 27-month high as traders look ahead to the Federal Reserve’s decision this week on whether to print more money and how big the stimulus package will be. More >>
Liquidation an option for PGC after Marac merger
Friday, 29 October 2010, 6:33 pm | BusinessDesk
Oct. 29 (BusinessDesk) – Pyne Gould Corp., the major partner in the proposed South Island bank, is considering liquidating its residue assets should its finance unit merge with smaller rivals. More >>
MARKET CLOSE: NZ stocks reach 6-month high
Friday, 29 October 2010, 5:52 pm | BusinessDesk
Oct. 29 (BusinessDesk) – New Zealand stocks rose to their highest level since April 24, outperforming regional markets, as SkyCity Entertainment Group gained after a bullish outlook statement from the company’s board. More >>
NZOG primed for more Pike River delays
Friday, 29 October 2010, 5:18 pm | BusinessDesk
Oct. 29 (BusinessDesk) – New Zealand Oil & Gas Ltd. is already anticipating further delays to projected coal production by Pike River Coal Ltd. because of the likelihood that the troubled West Coast miner will breach debt covenants again before ... More >>
SFO ups the ante in South Canterbury probe
Friday, 29 October 2010, 5:14 pm | BusinessDesk
by Paul McBeth Oct. 29 (BusinessDesk) – The Serious Fraud Office has raised the stakes in its probe into South Canterbury Finance Ltd., announcing a “Part 2 investigation” after its initial swoop into some of the failed lenders’ transactions. More >>
Losses in Hubbard vehicles at least $58M
Friday, 29 October 2010, 4:36 pm | BusinessDesk
Oct. 29 (BusinessDesk) – Investors in Allan Hubbard’s frozen vehicles will probably lose at least $58 million, according to the latest report from the government-appointed statutory manager. More >>
Super-city a safe bet, S&P says
Friday, 29 October 2010, 3:19 pm | BusinessDesk
Oct. 29 (BusinessDesk) – The amalgamated Auckland “super-city” is good for an AA credit rating from the credit agency Standard & Poor’s, although heavy infrastructure spending and any lack of spending control could threaten that. More >>
Heartland Bank merger ‘compelling’: advisers
Friday, 29 October 2010, 2:29 pm | BusinessDesk
by Paul McBeth Oct. 29 (BusinessDesk) – The proposed merger which Pyne Gould Corp.’s Marac unit hopes will fulfil its aspiration to become a bank has “compelling” merits and will reduce risks facing the tie-up’s minor partners. More >>
NZ home building consents fall in September
Friday, 29 October 2010, 11:46 am | BusinessDesk
Oct. 29 (BusinessDesk) – New Zealand’s residential property sector remained soft in September, measured by building consents, with the effects of the Canterbury earthquake adding to the woes of the struggling residential construction sector. More >>
NZ annual trade surplus widens
Friday, 29 October 2010, 11:37 am | BusinessDesk
Oct. 29 (BusinessDesk) – New Zealand’s annual traded surplus widened last month as the nation shipped more dairy products, logs and crude oil while a tepid domestic economy constrained imports. More >>
Strong Q1 as SkyCity targets $127.4 mln profit
Friday, 29 October 2010, 11:25 am | BusinessDesk
Oct. 29 (BusinessDesk) – SkyCity Entertainment Group, the country’s biggest casino operator, is targeting profit of at least $127.4 million in the 2011 financial year as earnings got off to a solid start in the first quarter. More >>
ANZO 1Q profit drops on fair value changes
Friday, 29 October 2010, 11:00 am | BusinessDesk
Oct. 29 (BusinessDesk) – AMP NZ Office Trust, which last week convinced investors to approve a restructure of the property investor into a company, reported a 56% decline in first quarter earnings after unrealised losses on financial instruments ... More >>
Global Ranfurly Shield would build world rugby
Friday, 29 October 2010, 10:44 am | BusinessDesk
International rugby would benefit from its own version of the one-on-one challenge formula that maintains the Ranfurly Shield as New Zealand’s most revered rugby trophy. More >>
Stocks to watch: LPC, OGC, PPL, TEL, TWR, WHS
Friday, 29 October 2010, 9:24 am | BusinessDesk
Oct. 29 (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 gains amid QE2 speculation
Friday, 29 October 2010, 9:18 am | BusinessDesk
Oct. 29 (BusinessDesk) – The New Zealand dollar climbed back over 75 U.S. cents as investors shunned the greenback amid reports the New York Federal Reserve will embark on further quantitative easing as soon as next week. More >>
ew global business skills initiative targets CEO’s
Thursday, 28 October 2010, 3:39 pm | BusinessDesk
Oct. 28 (BusinessDesk) – A $1.3 million pilot programme involving a top international global management school to teach global business skills to top New Zealand managers is to be established with The University of Auckland. More >>
Lyttelton Port picks 2011 profit to beat $10 mln
Thursday, 28 October 2010, 2:36 pm | BusinessDesk
Oct. 28 (BusinessDesk) – Lyttelton Port Co. is forecasting an underlying profit of at least $10 million in 2011 as the port shrugs off the effects of the Canterbury earthquake and starts the financial year strongly. More >>
