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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 1656]
NZ dollar heads for quarterly gain
Tuesday, 28 September 2010, 9:11 am | BusinessDesk
Sept. 28 (BusinessDesk) – The New Zealand dollar rose as some US$10 billion worth of mergers and acquisitions was announced on Wall Street, and is poised to hold on to recent gains as investors stay upbeat about the state of the world. More >>
MARKET CLOSE: Hallenstein leads NZ stocks up
Monday, 27 September 2010, 6:06 pm | BusinessDesk
Sept. 27(BusinessDesk) – New Zealand stocks rose for the first time in four sessions, as a wave of positive investor sentiment from Asia and Australia helped push the market out of the doldrums. More >>
OIO approves Chinese buyer for half of Synlait
Monday, 27 September 2010, 5:55 pm | BusinessDesk
Sept. 27 (BusinessDesk) – The Overseas Investment Office has given the all-clear to China’s Bright Dairy & Food Co. to buy into Synlait Ltd.’s processing business, according to a statement from the dairy company. More >>
Nufarm reaches deal on breached covenants
Monday, 27 September 2010, 3:58 pm | BusinessDesk
Sept. 27 (BusinessDesk) – Nufarm Ltd., which had its credit rating cut to junk in July after its debt blew out, has until mid-December to restructure its finance arrangements after it reached an agreement with its lenders to extend the waivers ... More >>
Bundled farm sales to foreigners in govt’s sights
Monday, 27 September 2010, 3:00 pm | BusinessDesk
Sept. 27 (BusinessDesk) – Bundling up large tracts of farmland for sale to foreign investors is a major concern, says the government in its review of foreign investment rules. More >>
Farming Systems’ shareholders accept Olam’s offer
Monday, 27 September 2010, 2:53 pm | BusinessDesk
Sept. 27 (BusinessDesk) – NZ Farming Systems Uruguay Ltd. is now a subsidiary of Olam International Ltd, which mopped up almost 78% of the company in successful takeover offer to shareholders. More >>
English adds two benefit tests to OIO rules
Monday, 27 September 2010, 1:04 pm | BusinessDesk
Sept. 27 (BusinessDesk) – Finance Minister Bill English has added two new benefit tests to the Overseas Investment Act to let minsters take a broader view when deciding whether to let foreign interests buy New Zealand assets. More >>
NZ Dollar Outlook: Kiwi to target 74 US cts
Monday, 27 September 2010, 12:59 pm | BusinessDesk
Sept. 27 (BusinessDesk) – The New Zealand dollar will likely test 74 U.S. cents this week as investors continue to eschew the greenback amid heightened expectations the Federal Reserve will ramp up its asset purchase programme. More >>
QIC blocks bid for Powerco ownership change
Monday, 27 September 2010, 10:43 am | BusinessDesk
Sept. 27 (BusinessDesk) – Queensland-based investment fund QIC is blocking the sale of the 42% of New Zealand electricity network company Powerco Ltd. owned by Prime Infrastructure. More >>
WEEKLY SPORTS DIGEST: Alonso’s foot to the floor
Monday, 27 September 2010, 10:39 am | BusinessDesk
27/09/10 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 >>
Hallenstein confirms 53% jump in profit
Monday, 27 September 2010, 9:45 am | BusinessDesk
Sept. 27 (BusinessDesk) – Hallenstein Glasson Holdings posted a 53% jump in full-year profit after the clothing retailer improved its product offering and benefited from a stronger kiwi dollar, fattening its margin. More >>
Stocks to watch: AFF, AIR, CAV, HGL, PPG, PLU, RNS
Monday, 27 September 2010, 9:32 am | BusinessDesk
Sept. 27 (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 European and US data
Monday, 27 September 2010, 9:25 am | BusinessDesk
by Paul McBeth Sept. 27 (BusinessDesk) – The New Zealand dollar climbed back over 73 U.S. cents as stronger data in Europe and the U.S. stoked investors’ appetite for higher-yielding, riskier assets, and helped push stock markets up. More >>
Olam, new owner of NZS, surges on merger talks
Friday, 24 September 2010, 4:35 pm | BusinessDesk
Sept. 24 (BusinessDesk) – Olam International Ltd., the owner of 67% of NZ Farming Systems Uruguay, surged on the Singapore stock exchange after confirming it is in talks with rival Louis Dreyfus Commodities. More >>
Air NZ’s Fyfe says ACCC may 'kill' competition
Friday, 24 September 2010, 4:03 pm | BusinessDesk
Sept. 24 (BusinessDesk) – Air New Zealand Ltd. chief executive Rob Fyfe said the Australian antitrust regulator risks ‘killing off’ competition by vetoing the airline’s trans-Tasman alliance with Virgin Blue Holdings. More >>
SCF woes sparked initial Hubbard complaint
Friday, 24 September 2010, 12:48 pm | BusinessDesk
Sept. 24 (BusinessDesk) – South Canterbury Finance Ltd.’s woes sparked the initial complaint that led to Allan Hubbard and some of his interests being placed into statutory management. More >>
Fletcher’s Ling gets his bonus back
Friday, 24 September 2010, 11:50 am | BusinessDesk
Sept. 24 (BusinessDesk) – Fletcher Building Ltd. chief executive Jonathan Ling got his bonus back this year after the biggest company on the NZX returned to profit. More >>
Kathmandu misses profit target
Friday, 24 September 2010, 11:48 am | BusinessDesk
Sept. 24 (BusinessDesk) – Kathmandu Holdings, the outdoor equipment chain taken public by its private equity owners last year, posted annual earnings that missed its prospectus forecast after weaker second-half trading. More >>
Postie Plus sees tough slog through to Christmas
Friday, 24 September 2010, 10:45 am | BusinessDesk
Sept. 24 (BusinessDesk) – Postie Plus Group Ltd., which posted a 6.5% drop in full-year pretax earnings, said retailing will continue to struggle through to Christmas though better trading in 2011 should lead to resumption in dividends. More >>
Stocks to watch: AIA, BRG, HGD, KMD, NZS, PPG
Friday, 24 September 2010, 10:38 am | BusinessDesk
Sept. 23 (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 >>
