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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 1645]
NZX’s Weldon urges govt to drive state asset sales
Tuesday, 26 October 2010, 4:48 pm | BusinessDesk
Oct. 26 (BusinessDesk) – Government decisions on privatisation of state-owned companies are a key part of “ability for the capital markets to keep working in New Zealand,” says NZX Ltd. chief executive Mark Weldon. More >>
Ferrier’s pay package surges $1.5 mln
Tuesday, 26 October 2010, 4:42 pm | BusinessDesk
Oct. 26 (BusinessDesk) – Fonterra Cooperative Group chief executive Andrew Ferrier got a $1.5 million pay rise last year even while the dairy company had a freeze on wages, as executives benefited from incentives paid for prior years. More >>
NZ Dollar Outlook: Kiwi range-bound ahead of OCR
Tuesday, 26 October 2010, 1:37 pm | BusinessDesk
Oct. 26 (BusinessDesk) – The New Zealand dollar will likely trade in familiar ranges this week ahead of Australian inflation data tomorrow and the official cash rate review on Thursday, which will likely cement expectations of a widening gap between ... More >>
Fonterra open to investment fund partners in China
Tuesday, 26 October 2010, 12:07 pm | BusinessDesk
by Jonathan Underhill Fonterra Cooperative Group may seek investment funds as partners in future farms and would be willing to take a minority stake. More >>
ASX/Singapore tie-up bad for NZ
Tuesday, 26 October 2010, 11:38 am | BusinessDesk
Oct. 26 (BusinessDesk) – The Singapore stock exchange takeover of its Australian counterpart is “good for Australia, bad for us,” says Troy Bowker, a close adviser to Prime Minister John Key on the proposal to develop a global financial services ... More >>
Asian traveller growth lifts Auckland Airport
Tuesday, 26 October 2010, 11:23 am | BusinessDesk
Oct. 26 (BusinessDesk) – International and domestic passenger numbers rose at Auckland International Airport Ltd. in September, with Asian travellers driving the increase. More >>
Stocks to watch: DGL, NZO, NZX, TEL, WID, VCT, XRO
Tuesday, 26 October 2010, 9:42 am | BusinessDesk
Oct. 26 (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 nears decade low vs Australian dollar
Tuesday, 26 October 2010, 9:25 am | BusinessDesk
Oct. 26 (BusinessDesk) – The New Zealand dollar neared a 10-year low versus its Australian counterpart amid growing expectations the interest rate gap between the trans-Tasman neighbours will continue to widen. More >>
Pateke-3 well back in production
Tuesday, 26 October 2010, 9:04 am | BusinessDesk
Pateke-3 well back in production Oct. 26 (BusinessDesk) - Problems at the Pateke-3H well have been solved over Labour weekend, and Tui oil field operator AWE Ltd. reports that “the well is currently flowing at over 4,000 barrels of oil per day with some ... More >>
Singapore stock exchange to take over ASX
Monday, 25 October 2010, 7:27 pm | BusinessDesk
Oct 25 (BusinessDesk) – The Singapore Stock Exchange has the approval of the Australian Stock Exchange board for an A$8.4 billion takeover to create the Asian region’s second largest equities and derivatives trading platform. More >>
MARKET CLOSE: NZ stocks rise to five-month high
Friday, 22 October 2010, 5:57 pm | BusinessDesk
Oct. 22 (BusinessDesk): NZ stocks rose to a five-month high as the closure of local markets for Labour Day on Monday spurred investors’ appetite for higher-yielding, or riskier, assets with tech-based accounting firm Xero Ltd. leading the charge. More >>
Perpetual pans low-ball St Laurence offer
Friday, 22 October 2010, 4:56 pm | BusinessDesk
by Paul McBeth Oct. 22 (BusinessDesk) – Perpetual Trust has panned a low-ball bid for debentures in failed financier St Laurence Ltd., saying the low-end of the likely recoveries was still “a lot more” than the offer. More >>
Goldman Sachs to advise on SCF asset sales
Friday, 22 October 2010, 4:49 pm | BusinessDesk
by Paul McBeth Oct. 22 (BusinessDesk) – The receivers for South Canterbury Finance Ltd. have tapped investment bank Goldman Sachs & Partners New Zealand Ltd. for advice on selling the failed lender’s investment assets. Goldmans will help Kerryn ... More >>
Vector signals ComCom challenge on rates of return
Friday, 22 October 2010, 3:50 pm | BusinessDesk
Oct. 22 (BusinessDesk) – The country’s largest listed network utility company, Vector Ltd., is getting set to test new rights under the Commerce Act to challenge the Commerce Commission’s emerging view about appropriate regulated rates of return ... More >>
Strategic Finance loan book sale stalls
Friday, 22 October 2010, 12:20 pm | BusinessDesk
by Paul McBeth Oct. 22 (BusinessDesk) – Investors in failed financier Strategic Finance Ltd. could get as little as 12 cents in the dollar out of their debenture stock after bids for the firm’s loan book fell short of expectations. More >>
Auckland Airport proposes compromise on board fees
Friday, 22 October 2010, 12:05 pm | BusinessDesk
Oct. 22 (BusinessDesk) - Auckland International Airport Ltd., the country’s major gateway, will compromise on its bid to boost directors’ fees after activist shareholders said it would oppose the increase. More >>
PayPal founder pumps $4mln into Xero
Friday, 22 October 2010, 11:02 am | BusinessDesk
by Paul McBeth Oct. 22 (BusinessDesk) – Xero Ltd., the accounting software company, has tapped PayPal co-founder Peter Thiel for $4 million to help fast-track its expansion in the U.S. More >>
Zespri boosts forecast payout to growers
Friday, 22 October 2010, 10:15 am | BusinessDesk
Oct. 22 (BusinessDesk) – Zespri International Ltd., the kiwifruit marketer, lifted its forecast payouts to kiwifruit growers as Asian demand returns to more normal levels. More >>
Natural Dairy has ‘nothing to hide’ from SFO probe
Friday, 22 October 2010, 9:57 am | BusinessDesk
by Paul McBeth Oct. 22 (BusinessDesk) – Natural Dairy (NZ) Holdings, the Hong Kong-listed company trying to buy the Crafar family farms, says it has “nothing to hide” from the Serious Fraud Office. More >>
Stocks to watch: AIR, ALF, APT, PRC, SCO, XRO
Friday, 22 October 2010, 9:45 am | BusinessDesk
Oct. 22 (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 >>
