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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 1653]
RBA unexpectedly leaves key rate at 4.5%
Tuesday, 5 October 2010, 5:52 pm | BusinessDesk
Oct. 5 (BusinessDesk) – The Reserve Bank of Australia unexpected left its benchmark interest rate at 4.5%, citing weaker consumer demand, sending the Australian dollar tumbling. More >>
Pyne Gould to consider future after bank merger
Tuesday, 5 October 2010, 2:16 pm | BusinessDesk
Oct. 5 (BusinessDesk) – Pyne Gould Corp., the major partner in the proposed South Island bank merger, will mull its own future once the deal is completed by the end of the year. More >>
Fidelity major shareholders to reject Tower offer
Tuesday, 5 October 2010, 12:57 pm | BusinessDesk
Oct. 5 (BusinessDesk) – Fidelity Life Assurance Co. says its biggest shareholders, with 70% of the company, plan to reject rival Tower Ltd.’s unsolicited $118 million cash and scrip takeover offer. More >>
Meridian picks HP for latest go at systems upgrade
Tuesday, 5 October 2010, 12:00 pm | BusinessDesk
Oct. 5 (BusinessDesk) – State-owned electricity generator and retailer Meridian Energy Ltd. is taking a second shot at upgrading its customer and other enterprise systems, after writing off $18.3 million on two such failed projects in the last ... More >>
ANZO pinches another Goodman executive
Tuesday, 5 October 2010, 11:32 am | BusinessDesk
Oct. 5 (BusinessDesk) – AMP NZ Office Trust has pinched another Goodman Property Trust executive as it prepares for its new life as a company. More >>
NZX’s Alternative Market trading dwindles
Tuesday, 5 October 2010, 10:52 am | BusinessDesk
Oct. 5 (BusinessDesk) – The number of trades on the NZX Ltd.’s Alternative Market for small and unconventional companies has dwindled to near the lowest since it began in 2003, highlighting local investors’ lack of risk appetite. More >>
Spring no saviour for Auckland home sales: Barfoot
Tuesday, 5 October 2010, 10:52 am | BusinessDesk
Oct. 5 (BusinessDesk) – Auckland house sales failed to blossom in September’s sunnier weather, with fewer than 700 sales for the fourth straight month. More >>
NZIER confirms “double-dip” recession fears
Tuesday, 5 October 2010, 10:15 am | BusinessDesk
by Pattrick Smellie Oct. 5 (BusinessDesk) – The risk of a double dip recession is rising as firms across New Zealand report a much weaker September quarter than expected, and a slump in activity and profit expectations through to the end of the ... More >>
OceanaGold to raise C$115.5 mln in placement
Tuesday, 5 October 2010, 10:02 am | BusinessDesk
Oct. 5 (BusinessDesk) – OceanaGold Corp., the gold miner whose chief executive left last month, plans to raise C$115.5 million from a Canadian syndicate of underwriters in a discounted share and warrant issue. More >>
Stocks to watch: AIR, FPA, LPC, MVN, NZX, OGC, SPY
Tuesday, 5 October 2010, 9:30 am | BusinessDesk
Oct. 5 (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 eases from 10-mth high before QSBO, RBA
Tuesday, 5 October 2010, 9:11 am | BusinessDesk
Oct. 5 (BusinessDesk) – The New Zealand dollar fell from a 10-month high as a pick-up in American housing data polished the appeal of the beaten-down greenback and as traders await local business confidence data and a Reserve Bank of Australia meeting ... More >>
MARKET CLOSE: NZ stocks rise; WHS, RAK, PRC gain
Monday, 4 October 2010, 5:53 pm | BusinessDesk
Oct. 4 (BusinessDesk) – New Zealand stocks rose for the second session, following gains in Asian markets on a day marked by tight volumes with China and parts of Australia closed for public holidays. Warehouse Group, Rakon Ltd., and Pike River Coal Ltd. ... More >>
Methven pleads guilty over false ads, fined $50k
Monday, 4 October 2010, 5:16 pm | BusinessDesk
Oct. 4 (BusinessDesk) – Methven Ltd., the manufacturer of taps and bathroom fittings, pleaded guilty to misleading customers with false advertising, and has been ordered to pay $50,000 plus costs. More >>
NZ growth outlook uncertain, says Treasury
Monday, 4 October 2010, 5:02 pm | BusinessDesk
Oct. 4 (BusinessDesk) – New Zealand’s economic outlook will remain uncertain through the second half of the financial year, with the country’s trading partners, the Canterbury earthquake and a re-jigged tax system adding to the uncertainty, the ... More >>
NZ wool prices hit 14-year high: ANZ
Monday, 4 October 2010, 3:38 pm | BusinessDesk
Oct. 4 (BusinessDesk) – New Zealand wool prices surged to a 14-year high amid renewed demand for the fibre in the Middle East and Europe, leading the price of the country’s raw materials higher in September, according to the ANZ Commodity Price Index. More >>
NZ Dollar Outlook: Kiwi in the ascendant
Monday, 4 October 2010, 2:20 pm | BusinessDesk
NZ Dollar Outlook: Kiwi in the ascendant as market shuns greenback by Paul McBeth Oct. 4 (BusinessDesk) – The New Zealand dollar will probably extend its run higher this week after hitting a 10-month high amid heightened prospects of the U.S. Federal ... More >>
SmartPay flirts with ASX listing
Monday, 4 October 2010, 11:16 am | BusinessDesk
Oct. 4 (BusinessDesk) - SmartPay Ltd., the eftpos company, is considering listing on the ASX as part it is major push into the Australian market. The company, through its Australian subsidiary, already has 12,000 terminals in the market with Bank of ... More >>
WEEKLY SPORTS DIGEST: Bollywood show, Dragons win
Monday, 4 October 2010, 10:30 am | BusinessDesk
04/10/10 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 >>
Failed merger a big hurdle for South Island ports
Monday, 4 October 2010, 10:21 am | BusinessDesk
Oct. 4 (BusinessDesk) –The decision by Lyttelton Port Co. to abandon merger talks with Port Otago Ltd. will most likely have a significantly negative impact on both companies, according to the New Zealand Council for Infrastructure Developments. More >>
F&P Appliances sells Australian site for A$21.5M
Monday, 4 October 2010, 10:04 am | BusinessDesk
Oct. 4 (September) – Whiteware goods maker Fisher & Paykel Appliances Holdings sold the majority of its Cleveland manufacturing site in Australia following the relocation of its refrigeration factory to Thailand. More >>
