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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 1644]
Lyttelton Port tips 2011 profit to beat $10m
Thursday, 28 October 2010, 2:35 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 >>
ANZ National's bad debts halve, late loans double
Thursday, 28 October 2010, 12:42 pm | BusinessDesk
Oct. 28 (BusinessDesk) – ANZ National bank’s local profit climbed in the year to Sept. 30 as it cut its expectations for loan defaults, while the value of its late loans almost doubled. More >>
Auckland Airport profit may rise 12% on volumes
Thursday, 28 October 2010, 12:04 pm | BusinessDesk
Oct. 28 (BusinessDesk) – Auckland International Airport Ltd., New Zealand’s busiest gateway, says annual profit may rise as much as 12% this year as the recovery in the global economy drives growth in passenger numbers. More >>
Freightways 1st-qtr profit falls 4%, sales rise
Thursday, 28 October 2010, 11:12 am | BusinessDesk
Oct. 28 (BusinessDesk) – Freightways Ltd. posted a 4% decline in first-quarter profit, reflecting higher bank margins, and said the recovery in the domestic economy will continue at a tepid pace. More >>
Bollard on hold until 2011 as inflation stays tame
Thursday, 28 October 2010, 10:09 am | BusinessDesk
Oct. 28 (BusinessDesk) – Reserve Bank Governor Alan Bollard will probably keep the official cash rate at a “very stimulatory” level until next year as retailers absorb the GST hike and keep prices under control. More >>
Property trust management fees divide sector
Thursday, 28 October 2010, 9:58 am | BusinessDesk
Oct. 26 (BusinessDesk) – AMP NZ Office Trust’s decision to restructure itself into a listed company is likely to put pressure on other property trusts to follow suit, as investors push managers to deliver on earnings performance over fund size. More >>
NZ dollar holds near week-low as OCR kept on hold
Thursday, 28 October 2010, 9:41 am | BusinessDesk
Oct. 28 (BusinessDesk) - The New Zealand dollar held near its lowest in a week after the Reserve Bank Governor Alan Bollard kept the official cash rate at 3% amid weak consumer spending and a soft housing market. More >>
Stocks to watch: ABA, AIR, ANZ, KRK, NZX, PRC
Thursday, 28 October 2010, 9:29 am | BusinessDesk
Oct. 28 (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 >>
Bollard keeps OCR at 3% on weak spending, property
Thursday, 28 October 2010, 9:05 am | BusinessDesk
Oct. 28 (BusinessDesk) – Reserve Bank Governor Alan Bollard held the official cash rate at 3%, as expected, and said consumer spending and the property market were still under pressure as households repair their balance sheets. More >>
Australia posts milder-than-expected inflation
Wednesday, 27 October 2010, 4:40 pm | BusinessDesk
Oct. 27 (BusinessDesk) – Australia’s consumer prices rose less than expected in the third quarter, dousing expectations interest rates will rise anytime soon and sending the nation’s currency lower. More >>
Investors warned to ignore bogus Hubbard poll
Wednesday, 27 October 2010, 2:24 pm | BusinessDesk
Oct. 27 (BusinessDesk) – The statutory managers for some of the business interests of Timaru millionaire Allan Hubbard are warning investors to be wary of a bogus survey being conducted on two of frozen investment funds. More >>
Banks settled tax case at 80% of provisioning: BNZ
Wednesday, 27 October 2010, 1:44 pm | BusinessDesk
Oct. 27 (BusinessDesk) – Bank of New Zealand profit figures released today show the bank paid $494 million in total to settle its dispute with the Inland Revenue Department over structured finance deals. More >>
English flags review of public sector
Wednesday, 27 October 2010, 1:23 pm | BusinessDesk
Oct. 27 (BusinessDesk) – Finance Minister Bill English plans to take a “hard look” at the size of the public sector because mounting cash deficits will weigh on the government’s ability to fund services in coming years. More >>
ASB’s chief executive throws in the towel
Wednesday, 27 October 2010, 11:50 am | BusinessDesk
Oct. 27 (BusinessDesk) – ASB Bank New Zealand’s chief executive Charles Pink has resigned after less than two years in the role, citing personal reasons. Pink advised the board of his decision to resign in early September, and agreed to a request ... More >>
Alliance to consider Silver Fern merger at AGM
Wednesday, 27 October 2010, 10:00 am | BusinessDesk
Oct. 27 (BusinessDesk) - Alliance Group’s shareholders will consider the potential for a merger with Silver Fern Farms at their annual meeting in December though chairman Owen Poole says such a deal lacks merit. More >>
Stocks to watch: KMD, LME, NPX, NZO, NZX, POT
Wednesday, 27 October 2010, 9:41 am | BusinessDesk
Oct. 27 (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 falls amid uncertainty over QE2, Hobbit
Wednesday, 27 October 2010, 9:11 am | BusinessDesk
Oct. 27 (BusinessDesk) – The New Zealand dollar fell amid heightened uncertainty over the size of the Federal Reserve’s second round of asset purchases next week. More >>
SMELLIE SNIFFS THE BREEZE: Backwater blues
Tuesday, 26 October 2010, 6:10 pm | BusinessDesk
Oct. 26 (BusinessDesk) – Another triumph for Fortress New Zealand with the announcement of the takeover of the Australian Stock Exchange by its Singaporean equivalent, the SGX. More >>
MARKET CLOSE: NZ shares decline; PPL down, NZX up
Tuesday, 26 October 2010, 5:42 pm | BusinessDesk
Oct. 26 (BusinessDesk) – New Zealand shares ended the day lower, joining a sell-off across Asian equity markets as investors fretted about the impact of a week greenback on export earnings. Pumpkin Patch fell and NZX Ltd. gained. More >>
No sales process for SCF core assets till 2011
Tuesday, 26 October 2010, 5:37 pm | BusinessDesk
Oct. 26 (BusinessDesk) – No formal sale process for South Canterbury Finance Ltd.’s core finance business is likely until the first quarter of next year, receivers McGrath Nichol announced, at the same time as appointing Deutsche Bank to advise on the sale. More >>
