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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 1648]
ComCom to tackle dodgy bids in construction sector
Tuesday, 19 October 2010, 11:41 am | BusinessDesk
Oct. 19 (BusinessDesk) – The Commerce Commission is to launch an education campaign to target anti-competitive practices construction sector, after research found non-residential builders in Auckland, Christchurch and Wellington engaging in “cover pricing”. More >>
PGG Wrightson’s Miles resigns, shares sink
Tuesday, 19 October 2010, 11:23 am | BusinessDesk
Oct. 19 (BusinessDesk) – PGG Wrightson Ltd. managing director Tim Miles has stepped down after two-and-a-half years in charge of the rural services group, effective immediately. The shares sank 5.1% to 56 cents. More >>
ACCC risks protectionist tag over Air NZ offer
Tuesday, 19 October 2010, 11:03 am | BusinessDesk
by Peter Kerr Oct. 19 (BusinessDesk) –The Australian Consumer and Competition Commission risks showing its protectionist tendencies if it rejects Air New Zealand and Pacific Blue’s rejigged trans-Tasman code sharing proposal, says a top aviation industry ... More >>
PRC cuts production forecast, shares tumble
Tuesday, 19 October 2010, 10:39 am | BusinessDesk
Oct. 19 (BusinessDesk) –Pike River Coal Ltd., which has just got away its second shipment of coal, has cut its forecast production as delays in underground road development hold up its hydro mining operations. The shares tumbled 7.6% near a month-low $1.09 ... More >>
Pernod Ricard sells NZ wine brands to Lion Nathan
Tuesday, 19 October 2010, 9:57 am | BusinessDesk
Pernod Ricard sells wine brands and assets for $88 mln to Lion Nathan Oct. 19 (BusinessDesk) – Pernod Ricard New Zealand Ltd., the local arm of the French liquor company, has sold a dozen wine brands and some wineries to a Lion Nathan New Zealand-led joint ... More >>
Stocks to watch: AIR, APN, DGL, KMD, NZO, THL, TEL
Tuesday, 19 October 2010, 9:51 am | BusinessDesk
Oct. 19 (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 >>
SFO mounts new South Canterbury Finance probes
Tuesday, 19 October 2010, 9:50 am | BusinessDesk
SFO mounts new South Canterbury Finance probes Oct. 19 (BusinessDesk) – The Serious Fraud Office will probe a number of related party transactions by failed lender South Canterbury Finance Ltd. in a separate investigation to its Aorangi Securities case. More >>
NZ dollar gains as Fed official talks up easing
Tuesday, 19 October 2010, 9:33 am | BusinessDesk
by Paul McBeth Oct. 19 (BusinessDesk) – The New Zealand dollar gained after Atlanta Federal Reserve President Dennis Lockhart said he might back a second round of asset purchases to help revive the sagging U.S. recovery. Stocks stocks on Wall Street ... More >>
Mixed results in KiwiSaver review
Monday, 18 October 2010, 6:13 pm | BusinessDesk
Oct. 18 (BusinessDesk) – KiwiSaver is growing and one in six people in the scheme say they would not be saving for retirement, but it remains unclear whether total retirement savings is growing as a result of the three year-old scheme. More >>
MARKET CLOSE: NZX50 gains as investors chase yield
Monday, 18 October 2010, 5:57 pm | BusinessDesk
MARKET CLOSE: NZ stocks rise as investors chase yield; Wrightson, AMP, Pyne Gould lead gains More >>
APN tests waters for $200 mln bond offer
Monday, 18 October 2010, 5:53 pm | BusinessDesk
Oct. 18 (BusinessDesk) – APN Media (NZ) Ltd., the publisher of the New Zealand Herald and owner of The Radio Network, is mulling a bond offer to raise as much as $200 million. More >>
Strong kiwi pushing THL to first-half loss
Monday, 18 October 2010, 5:27 pm | BusinessDesk
Strong kiwi pushing Tourism Holdings to first-half loss Oct. 18 (BusinessDesk) – Tourism Holdings Ltd., the campervan rental company, expects to post a first-half loss of up to $1 million as the strong kiwi dollar saps demand from British tourists. More >>
WEEKLY SPORTS DIGEST: Here come the All Blacks
Monday, 18 October 2010, 3:00 pm | BusinessDesk
Oct. 18 (BusinessDesk) - Executive sport summary – An overview of the major sporting events – results, key moments and talking points – everything you need to know to foot it at the water cooler this week. More >>
NZ Dollar Outlook: All Eyes on Bernanke
Monday, 18 October 2010, 2:30 pm | BusinessDesk
Oct. 18 (BusinessDesk) – The New Zealand dollar is near the top of its range and will probably stay in a holding pattern until the U.S. Federal Reserve makes up its mind as to when, and how much, it will spend to prime economic activity. More >>
Delegat's launches bid for Oyster Bay minorities
Monday, 18 October 2010, 1:54 pm | BusinessDesk
Oct. 18 (BusinessDesk) - Winemaker Delegat's Group has launched a takeover bid for the 45% of Oyster Bay Marlborough Vineyards it doesn't already own. More >>
Services sector shrugs off mid-year slump
Monday, 18 October 2010, 11:35 am | BusinessDesk
Oct. 18 (BusinessDesk) - New Zealand’s services sector climbed expanded last month, an early indication the economy is returning to growth after stalling in the middle of the year. More >>
Stocks to watch: DIL, DNZ, ECO, FBU, NZO, TEL
Monday, 18 October 2010, 9:43 am | BusinessDesk
Oct. 18 (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 pares gain as Bernanke falls short
Monday, 18 October 2010, 9:20 am | BusinessDesk
Oct. 18 (BusinessDesk) – The New Zealand dollar pared gains after U.S. Federal Reserve chairman Ben Bernanke hinted that he leans in favour of a second round of asset purchases, disappointing investors hoping for more details about such a package. More >>
MARKET CLOSE: NZ stocks fall ahead of Bernanke
Friday, 15 October 2010, 5:52 pm | BusinessDesk
Oct. 15 (BusinessDesk) – New Zealand stocks fell for the first time in three sessions as investors kept to the sidelines ahead of a speech by U.S. Federal Reserve Chairman Ben Bernanke which may signal another round of quantitative easing. APN News & ... More >>
DNZ’s Duffy gets second bonus in two months
Friday, 15 October 2010, 5:30 pm | BusinessDesk
Oct. 14 (BusinessDesk) – DNZ Property Fund Ltd. chief executive Paul Duffy has landed his second bonus in as many months, after the property investor's stock met a performance target. More >>
