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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 1651]
NZ Dollar Outlook: Kiwi to trail Aussie higher
Monday, 11 October 2010, 2:26 pm | BusinessDesk
Oct. 11 (BusinessDesk) – The New Zealand dollar will likely extend its run higher this week as the Australian currency looks set to test parity with the greenback, dragging the kiwi along with it. More >>
Exxon Mobil abandons Great South Basin
Monday, 11 October 2010, 12:29 pm | BusinessDesk
Oct. 11 (BusinessDesk) – Oil supermajor Exxon Mobil has done as predicted a year ago and surrendered its exploration licence in the Great South Basin in a move that dents the government’s efforts to “transform” the resource sector by pursuing ... More >>
NZ card spending rises in September ahead of GST
Monday, 11 October 2010, 11:33 am | BusinessDesk
Oct. 11 (BusinessDesk) - New Zealand spending on debit and credit cards returned to growth in September, as consumers stocked up on household goods, food and petrol ahead of the hike in GST to 15%. More >>
WEEKLY SPORTS DIGEST: Kiwi gold at last
Monday, 11 October 2010, 11:11 am | BusinessDesk
11/10/10 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 central bank, NZX to keep 2 settlement systems
Monday, 11 October 2010, 10:49 am | BusinessDesk
Oct. 11 (BusinessDesk) – The Reserve Bank of New Zealand and NZX Ltd. have agreed to maintain separate, competing clearing and settlement systems after an extensive review of options. More >>
Allied Work Force set to buy Panacea Healthcare
Monday, 11 October 2010, 10:31 am | BusinessDesk
Oct. 11 (BusinessDesk) – Allied Work Force Group, the labour pool company, has entered into a conditional agreement to buy specialist healthcare provider Panacea Healthcare Ltd. as part of a strategic move to broaden the company’s operations. More >>
Stocks to watch: ABA, DNZ, LPC, OGC, SCT, TLS, WBC
Monday, 11 October 2010, 9:40 am | BusinessDesk
Oct. 11 (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 after downbeat U.S. jobs figures
Monday, 11 October 2010, 9:33 am | BusinessDesk
Oct. 11 (BusinessDesk) – The New Zealand dollar rose after U.S. employment figures came in weaker than expected and encouraged traders to eschew the greenback amid growing prospects the Federal Reserve will print more money. More >>
Chris Lee taps ex-Hubbard exec for Timaru branch
Friday, 8 October 2010, 6:21 pm | BusinessDesk
by Paul McBeth Oct. 8 (BusinessDesk) – Kapiti investment adviser Chris Lee has wooed former South Canterbury Finance executive Kevin Gloag to set up a branch in Timaru. More >>
MARKET CLOSE: Stocks fall, cracker for Scott Tech
Friday, 8 October 2010, 6:09 pm | BusinessDesk
MARKET CLOSE: NZ stocks fall ahead of U.S. job report; Pyne Gould, Rakon, Auckland Airport lead declines More >>
Sellers, but no buyers for NZX dairy futures debut
Friday, 8 October 2010, 5:31 pm | BusinessDesk
Oct. 8 (BusinessDesk) – The much anticipated debut for dairy futures trading on the NZX has ended its first day without bothering the scorers. More >>
Currency wars front-line shifts to DC this weekend
Friday, 8 October 2010, 4:52 pm | BusinessDesk
October 8 (BusinessDesk) - This weekend’s annual meetings of the International Monetary Fund and the World Bank in Washingto, D.C. may prove to be far more exciting than usual. Mud is being thrown every which way in the foreign-exchange markets. ... More >>
“Fit, proper” owner test mooted for finance coys
Friday, 8 October 2010, 4:39 pm | BusinessDesk
by Paul McBeth Oct. 8 (BusinessDesk) – The Reserve Bank is proposing that a “fit and proper” person test be added to the hoops that all non-bank deposit-takers will have to jump through from later this year. More >>
Guilty plea from National Finance accountant
Friday, 8 October 2010, 3:55 pm | BusinessDesk
Oct. 8 (BusinessDesk) – The Serious Fraud Office is celebrating its first guilty plea in a prosecution for theft relating to the collapse of National Finance 2000 Ltd., in May 2006. More >>
Three month wait for Lyttelton Port quake costs
Friday, 8 October 2010, 3:32 pm | BusinessDesk
Oct. 8 (BusinessDesk) – Lyttelton Port Co. doesn’t expect to know the cost of the 7.1 magnitude Canterbury earthquake for as long as three months, though it will probably exceed initial estimates. More >>
Brand abuse dilemma for Fonterra in Greenpeace ad
Friday, 8 October 2010, 2:27 pm | BusinessDesk
Oct. 8 (BusinessDesk) – Dairy giant Fonterra Cooperative Group is “preserving all options” for response to an online Greenpeace advertisement extensively using Fonterra’s branding and linking its products to rainforest destruction. More >>
Scott Technologies unveils best result in 7 years
Friday, 8 October 2010, 2:17 pm | BusinessDesk
Oct. 8 (BusinessDesk) – Scott Technologies Ltd. has reported its best earnings performance since the 2002/03 financial year, although net profit was $1.1 million lower than it would have been without the one-off impact of tax changes in the May ... More >>
NZ insulated from currency wars by surging Aussie
Friday, 8 October 2010, 1:30 pm | BusinessDesk
NZ trade insulated from global currency wars by surging Aussie dollar Oct. 8 (BusinessDesk) – The New Zealand economy should be insulated from the so-called “currency wars” between superpowers, thanks to Australia’s humming economy and surging dollar, ... More >>
MRP predicts 20% earnings lift in 2010/11
Friday, 8 October 2010, 12:52 pm | BusinessDesk
Oct. 8 (BusinessDesk) – State-owned electricity generator MightyRiverPower is predicting a 20% bounceback in earnings in the financial year to June 2011, after a 27% slump last year owing largely to the impact of drought on its Waikato hydro-generation ... More >>
Windflow warns of more losses to come
Friday, 8 October 2010, 12:14 pm | BusinessDesk
Oct. 8 (BusinessDesk) - Windflow Technologies Ltd., the Christchurch-based wind turbine developer, said the company will deliver another loss next year due to an “inevitable” production gap and low demand growth in the electricity sector. The scope of the ... More >>
