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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 1652]
Stocks to watch: CVT, DNZ, MHI, LPC, NZO, TLS
Friday, 8 October 2010, 9:44 am | BusinessDesk
Oct. 8 (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 from 11-month high
Friday, 8 October 2010, 9:18 am | BusinessDesk
by Paul McBeth Oct. 8 (BusinessDesk) – The New Zealand dollar fell from an 11-month high after the European Central Bank President took a crack at “disorderly” currency moves and threw his support behind a strong greenback. More >>
Sixth month of declining NZ property values: QV
Thursday, 7 October 2010, 4:09 pm | BusinessDesk
Sixth month of declining NZ property values amid ‘very low’ sales: QV Oct. 7 (BusinessDesk) – New Zealand property values declined for a sixth month in a row amid a “very low level of sales activity.” More >>
Comet Ridge steps up NZ coal-seam gas search
Thursday, 7 October 2010, 3:55 pm | BusinessDesk
Oct. 7 (BusinessDesk) – Brisbane-based coal-seam gas explorer Comet Ridge Ltd. is stepping up its search for deposits on the West Coast of the South Island and in the northern Waikato, with what it says is New Zealand’s first-ever aerial data ... More >>
Compulsory savings may not be the silver bullet
Thursday, 7 October 2010, 12:42 pm | BusinessDesk
Oct. 7 (BusinessDesk) – Making KiwiSaver a compulsory savings isn’t the silver bullet to address New Zealand’s dismal savings record, with the evidence across the Tasman unclear, according to the Savings Working Group. More >>
Comvita sells stake to strategic Asian partners
Thursday, 7 October 2010, 11:50 am | BusinessDesk
Oct. 7 (BusinessDesk) - Comvita Ltd., the medical honey products developer, has sold a 3.5% stake in the company for $2 million to its Asian partners as part of a strategic alliance in the region. More >>
Widespread Energy to start Chatham Rise search
Thursday, 7 October 2010, 10:10 am | BusinessDesk
Oct. 7 (BusinessDesk) – Widespread Energy Ltd. plans to begin an undersea exploration programme on its Chatham Rise project in 2011, and will deliver its year-one progress report to Crown Minerals by the end of this year. More >>
Stocks to watch: AFF, APT, CVT, KIP, NZO, OGC, WEN
Thursday, 7 October 2010, 9:31 am | BusinessDesk
Oct. 7 (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 tops 75 US cts on weak US jobs data adds
Thursday, 7 October 2010, 9:06 am | BusinessDesk
NZ dollar tops 75 US cts as weak US jobs data adds to greenback’s woes More >>
Twitter a sales time-waster for unskilled business
Wednesday, 6 October 2010, 5:01 pm | BusinessDesk
by Peter Kerr Oct. 6 (BusinessDesk) - The internet is so full of tyre kickers that small New Zealand businesses need to be wary of spending massive amounts of time and money in social media dealings with such non-buyers, says mass email distributor ... More >>
Five Star Finance four plead guilty
Wednesday, 6 October 2010, 2:16 pm | BusinessDesk
Oct. 6 (BusinessDesk) –All four directors of the Five Star group of finance companies have pleaded guilty to 40 charges relating to their promotion and will face sentencing later this year. More >>
Mining policy leaker goes unplugged
Wednesday, 6 October 2010, 2:02 pm | BusinessDesk
Oct. 6 (BusinessDesk) – Investigations by the State Services Commission into two damaging leaks of confidential government information have come up empty-handed. More >>
Datacraft doubles size in NZ with acquisition
Wednesday, 6 October 2010, 1:48 pm | BusinessDesk
by Paul McBeth Oct. 6 (BusinessDesk) – Datacraft NZ Ltd., the multi-national which integrates online business services, has more than doubled its local presence after buying IT company Integral Technology Group for an undisclosed sum today. More >>
TelstraClear fails to keep Kordia stoush secret
Wednesday, 6 October 2010, 12:41 pm | BusinessDesk
Oct. 6 (BusinessDesk) – The High Court in Auckland knocked back TelstraClear Ltd.’s bid for secrecy over a dispute with joint venture partner Kordia Group, saying the “public has a very real interest” in fibre networks. More >>
Comvita flags first-half loss, fights for patent
Wednesday, 6 October 2010, 11:16 am | BusinessDesk
Oct. 6 (BusinessDesk) – Comvita Ltd., the medical honey products developer, said it turned to a first-half loss on legal costs relating to a patent infringement case in the U.K., weaker sales and changes to New Zealand tax laws. The shares dropped ... More >>
Insured Group fined for lack of kiwi director
Wednesday, 6 October 2010, 10:37 am | BusinessDesk
Oct. 6 (BusinessDesk) – Insured Group, the Australian insurer that joined the New Zealand stock exchange through a reverse listing, has been fined and censured by the NZX disciplinary board for failing to have enough local directors on its board. More >>
Stocks to watch: AIA, AIR, OGC, PGC, SKL, TWR
Wednesday, 6 October 2010, 9:35 am | BusinessDesk
Oct. 6 (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 75 US cts after BOJ move
Wednesday, 6 October 2010, 9:28 am | BusinessDesk
NZ dollar nears 75 US cts as stocks rally on Bank of Japan rate cut to zero More >>
MARKET CLOSE: NZ shares fall, paced by Kathmandu
Tuesday, 5 October 2010, 6:05 pm | BusinessDesk
Oct. 5 (BusinessDesk) – New Zealand stocks fell for the first time in three sessions, led by retailers including Kathmandu Holdings after the NZIER’s business opinion survey highlighted the risks of a double-dip recession. More >>
Horizon blames takeover costs for profit downgrade
Tuesday, 5 October 2010, 5:56 pm | BusinessDesk
by Paul McBeth Oct. 5 (BusinessDesk) – Horizon Energy Distribution Ltd., the twice takeover target of Marlborough Lines Ltd., downgraded its first-half profit by at least $1.5 million, blaming legal fees from the first failed acquisition attempt ... More >>
