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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 1646]
Hobbit fears and G-20 meeting knock NZ dollar
Friday, 22 October 2010, 9:37 am | BusinessDesk
Oct. 22 (BusinessDesk) – The New Zealand dollar fell ahead of the weekend’s G-20 finance ministers’ summit in Korea, with speculation rife policy-makers will try and reach some accord to dull the so-called currency wars. More >>
SFO looks into Natural Dairy after OIO tip-off
Thursday, 21 October 2010, 6:48 pm | BusinessDesk
Oct. 21 (BusinessDesk) – The Serious Fraud Office is looking into several transactions involving Hong Kong-listed Natural Dairy (NZ) Ltd. and Auckland businesswoman May Wang’s UBNZ group of companies. More >>
Allied Nationwide bondholders not guaranteed
Thursday, 21 October 2010, 6:41 pm | BusinessDesk
Oct. 21 (BusinessDesk) – Investors holding the listed perpetual bonds of Allied Nationwide Finance Ltd., the failed finance unit of Allied Farmers Ltd., won’t get their money back, as the securities are not covered by the government’s guarantee. More >>
Fonterra sells Aust business to private equity
Thursday, 21 October 2010, 6:22 pm | BusinessDesk
Oct. 21 (BusinessDesk) – Global dairy exporter Fonterra Cooperative Group signed a binding agreement to sell its Brownes business to a dairy group owned by private equity firm Archer Capital, saying it would be better served by owners with a regional ... More >>
MARKET CLOSE: NZ stock rise on upbeat Wall Street
Thursday, 21 October 2010, 5:58 pm | BusinessDesk
Oct. 21 (BusinessDesk) – New Zealand stocks rose for the first time in three sessions as the U.S. sharemarket rallied amid stronger earnings on Wall Street. Hallenstein Glasson Holdings, Vital Healthcare Property Trust and Michael Hill International ... More >>
Bill Wilson exits Supreme Court
Thursday, 21 October 2010, 5:03 pm | BusinessDesk
Oct. 21 (BusinessDesk) – The government will spend close to $1 million to facilitate controversial Supreme Court Judge Bill Wilson’s exit from the bench. More >>
NZ consumer confidence takes another knock
Thursday, 21 October 2010, 4:23 pm | BusinessDesk
Oct. 21 (BusinessDesk) – New Zealand consumer confidence took a knock this month as kiwis put off buying major appliances amid a tight labour market and a lift to consumption tax. But optimism about the future is improving. More >>
SFO probes Ponzi-style WSD financial group
Thursday, 21 October 2010, 4:17 pm | BusinessDesk
by Paul McBeth Oct. 21 (BusinessDesk) – The Serious Fraud Office is looking into the affairs of the WSD group financial services of companies amid claims it failed to correctly account to investors for funds received. More >>
ANZO investors ignore ACC and vote to corporatise
Thursday, 21 October 2010, 2:23 pm | BusinessDesk
Oct. 21 (BusinessDesk) – AMP NZ Office Trust investors shrugged off warnings from the major shareholder Accident Compensation Corp. and voted in favour of restructuring the unit trust into a company. Between 81% and 83% of shareholders supported the ... More >>
NZ net migration continues to rise in Sept
Thursday, 21 October 2010, 12:00 pm | BusinessDesk
Oct. 21 (BusinessDesk) – New Zealand’s permanent population continued to grow in September, though kiwis leaving the country were moving across the Tasman again. More >>
Pateke well hits another snag
Thursday, 21 October 2010, 11:20 am | BusinessDesk
Oct. 21 (BusinessDesk) – New Zealand Oil & Gas Ltd. today said that production at the Pateke 3H well, situated offshore on the Tui oil field, has been delayed again after due to technical issues. More >>
Stocks to watch: AIR, ALF, APT, DNZ, NZO, RBD, SAN
Thursday, 21 October 2010, 9:41 am | BusinessDesk
Oct. 21 (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 on U.S. money-printing speculation
Thursday, 21 October 2010, 9:24 am | BusinessDesk
by Paul McBeth Oct. 21 (BusinessDesk) – The New Zealand dollar clawed back yesterday’s losses amid speculation on the likely size of another Federal Reserve asset purchase programme. More >>
SMELLIE SNIFFS THE BREEZE: Strange days
Thursday, 21 October 2010, 8:25 am | BusinessDesk
For months, China has been under growing pressure to let the value of its currency, the yuan, rise to reflect China’s growing might and to meet America’s need for a weak currency export competitiveness boost to get it over this indigestion it’s ... More >>
Wellington film crews in large anti-union march
Wednesday, 20 October 2010, 9:24 pm | BusinessDesk
Oct. 20 (BusinessDesk) – Film production company owners and workers took to the streets of Wellington tonight to demand an end to the influence of the Australian Media, Entertainment and Arts Alliance on the future of Sir Peter Jackson’s green-lit ... More >>
MARKET CLOSE: NZ stocks fall on China rate hike
Wednesday, 20 October 2010, 5:56 pm | BusinessDesk
MARKET CLOSE: NZ stocks fall on China rate hike; Hallenstein, NZX and Air NZ lead declines More >>
UPDATED: Fonterra spends $42m on new Chinese farm
Wednesday, 20 October 2010, 5:45 pm | BusinessDesk
Oct. 20 (BusinessDesk) – Fonterra Cooperative Group will double its production of fresh milk in China to about 50 million litres a year starting in 2011, building a second barn-style intensive farm for $42 million. More >>
Telecom’s XT woes rear their head again
Wednesday, 20 October 2010, 4:53 pm | BusinessDesk
Oct. 20 (BusinessDesk) – Telecom Corp.’s temperamental XT mobile network spat the dummy today, with problems for broadband users today. More >>
Leasehold the answer to foreign farm sales?
Wednesday, 20 October 2010, 4:44 pm | BusinessDesk
by Peter Kerr Oct. 20 (BusinessDesk) - The danger that New Zealanders could become tenants in their own land has encouraged David Mahon, an ex-pat kiwi business leader based in Beijing, David Mahon, to suggest that all agricultural land should be changed ... More >>
Fonterra spends $42 mln on new Chinese dairy farm
Wednesday, 20 October 2010, 4:32 pm | BusinessDesk
Oct. 20 (BusinessDesk) – Fonterra Cooperative Group will spend $42 million on a new dairy farm in China as it looks to build its presence in the world’s most populous nation. More >>
