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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 1657]
NZ dollar gains vs euro after Ireland contraction
Friday, 24 September 2010, 9:28 am | BusinessDesk
Sept. 24 (BusinessDesk) – The New Zealand dollar gained against the euro after Ireland’s economy unexpectedly shrank in the second quarter, suggesting the European region will take longer to recover from its slump. More >>
MARKET CLOSE: NZX 50 falls on weak economic growth
Thursday, 23 September 2010, 6:04 pm | BusinessDesk
Sept. 23 (BusinessDesk) – New Zealand stocks fell for a second day as the prospect of the country’s economic recovery stalling doused investor’s appetite for higher-yielding, or riskier, assets. Fisher & Paykel Healthcare Corp., Hallenstein Glasson Holdings ... More >>
South Canterbury trustee pays out $350M on bonds
Thursday, 23 September 2010, 3:17 pm | BusinessDesk
Sept. 23 (BusinessDesk) – Bargain hunters who bet against South Canterbury Finance’s had their pay-day today, with the failed financier’s trustee paying out about $350 million to the listed bond holders. More >>
Protest forces Fonterra to evacuate headquarters
Thursday, 23 September 2010, 12:53 pm | BusinessDesk
Sept. 23 (BusinessDesk) - Dairy exporter Fonterra Cooperative Group was forced to evacuate its headquarters in Auckland today after environmental group Greepeace staged a protest in the dairy cooperative’s foyer, sparking fears of a bomb threat. More >>
Fonterra strengthens balance sheet, lifts profit
Thursday, 23 September 2010, 12:02 pm | BusinessDesk
Sept. 23 (BusinessDesk) – Fonterra Cooperative Group, the world’s largest dairy exporter, announced the strongest balance sheet in its 19-year history after allowing farmers to buy more shares and affirmed its 2011 milk fat payment. More >>
NZ economic recovery stalls
Thursday, 23 September 2010, 11:57 am | BusinessDesk
Sept. 23 (BusinessDesk) – New Zealand’s economic growth hit the brakes in the second quarter, falling short of expectations, and supporting the Reserve Bank’s decision to pause in tightening interest rates. The kiwi dollar tumbled. More >>
NZ dollar tumbles on weaker-than-expected GDP
Thursday, 23 September 2010, 11:37 am | BusinessDesk
Sept. 23 (BusinessDesk) - The New Zealand dollar fell more than half a U.S. cent after second quarter gross domestic product grew just a quarter of the pace expected. More >>
Cushing’s Rural Equities narrows loss
Thursday, 23 September 2010, 11:00 am | BusinessDesk
Sept. 23 (BusinessDesk) – Rural Equities Ltd., the farming group controlled by Selwyn Cushing’s H&G Ltd., narrowed its 2010 loss as it benefited from rising milk prices and sold a High Country property. More >>
Tourism Holdings sells Fiji assets for about $1.8M
Thursday, 23 September 2010, 10:37 am | BusinessDesk
Sept. 23 (BusinessDesk) – Tourism Holdings Ltd. agreed to sell its transport and tourism businesses in Fiji to local interests and will use the funds to repay debt. More >>
Vector raises US$182 mln in bond sale to Americans
Thursday, 23 September 2010, 10:21 am | BusinessDesk
Sept. 23 (BusinessDesk) – Vector Ltd., the gas and electricity distributor, raised US$182 million in a sale of unsecured notes to American investors. More >>
NZ dollar tops 74 cts before GDP, Fonterra
Thursday, 23 September 2010, 9:37 am | BusinessDesk
NZ dollar tops 74 cents for first time since January as GDP, Fonterra results loom More >>
Stocks to watch: AFF, AIR, ANZ, FBU, GPG, NPX, NZF
Thursday, 23 September 2010, 9:30 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 >>
Canterbury economy faces $600 mln hit after quake
Wednesday, 22 September 2010, 1:36 pm | BusinessDesk
Sept. 22 (BusinessDesk) – The short-term income-loss cost due to business interruption from Canterbury’s earthquake will be about $600 million over the September/October period according to Westpac economists. More >>
Councils on notice over freshwater management
Wednesday, 22 September 2010, 12:25 pm | BusinessDesk
Sept. 22 (BusinessDesk) – Regional councils are on notice to improve how they manage the country’s freshwater resources, with the release today of the government’s experiment in consensus-making, the final report of the Land and Water Forum. More >>
NZ current account returns to deficit
Wednesday, 22 September 2010, 12:13 pm | BusinessDesk
Sept. 22 (BusinessDesk) -- New Zealand’s current-account balance turned to a deficit in the second quarter, though the composition suggests some positive momentum for the economy. More >>
Pumpkin Patch returns to profit, squeezes margins
Wednesday, 22 September 2010, 12:01 pm | BusinessDesk
Sept. 22 (BusinessDesk) - Pumpkin Patch Ltd. returned to profit after a renewed focus on inventory margin, costs cutting and restructuring helped the listed children’s wear retailer shrug off falling sales revenue. More >>
NZ employees ‘more despondent’ about prospects
Wednesday, 22 September 2010, 11:48 am | BusinessDesk
Sept. 22 (BusinessDesk) – New Zealand employees are more downbeat about the labour market at present, and aren’t as optimistic about its future recovery. More >>
Stocks to watch: AFF, AIR, CEN, GPG, FBU, IMP, RBD
Wednesday, 22 September 2010, 9:39 am | BusinessDesk
Sept. 22 (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 >>
GPG taps independent directors for strategy review
Wednesday, 22 September 2010, 9:31 am | BusinessDesk
Sept. 22 (BusinessDesk) - Guinness Peat Group named four independent directors in a boardroom shakeup aimed at reappraising strategy at the under-performing investment company. More >>
NZ dollar rises above 73 cents after Fed statement
Wednesday, 22 September 2010, 9:15 am | BusinessDesk
NZ dollar climbs back over 73 US cts as Fed targets inflation, may print money More >>
