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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 1658]
NZ credit card spending creeps up
Tuesday, 21 September 2010, 5:00 pm | BusinessDesk
Sept. 21 (BusinessDesk) – New Zealanders’ spending on their credit cards ticked up last month, though it’s still fairly muted and shouldn’t give the Reserve Bank any cause to rethink its strategy. More >>
NZ tourism bolstered by Chinese visitors
Tuesday, 21 September 2010, 4:52 pm | BusinessDesk
Sept. 21 (BusinessDesk) – An inflow of Chinese tourists kept New Zealand’s short-term visitor numbers buoyant last month, according to Statistics New Zealand. More >>
Air New Zealand loads up in August, shares gain
Tuesday, 21 September 2010, 3:03 pm | BusinessDesk
Sept. 21 (BusinessDesk) – Air New Zealand Ltd., the national airline, increased passengers carried by 5.9% to 978,000 in August compared to a year earlier. The shares rose 0.8% to $1.30. More >>
Oil coys resist new reserves disclosure regime
Tuesday, 21 September 2010, 2:26 pm | BusinessDesk
Sept. 21 (BusinessDesk) – Oil and gas field owners have “no appetite” for disclosing any more information than they do already about the likely size of their petroleum reserves, the Petroleum Conference in Auckland was told today. More >>
ANZ cleared to open local Chinese bank
Tuesday, 21 September 2010, 2:10 pm | BusinessDesk
Sept. 21 (BusinessDesk) – Australia New Zealand Banking Group will open a locally incorporated Chinese bank in October after winning regulatory approval earlier this month. More >>
Affco directors back Talley’s takeover bid
Tuesday, 21 September 2010, 1:45 pm | BusinessDesk
Sept. 21 (BusinessDesk) – Affco Holding’s independent directors are now endorsing the takeover offer from South Island food producer Talley’s Group, which declared its proposal unconditional today. More >>
Wellington Drive raises $7.7M in discounted sale
Tuesday, 21 September 2010, 1:25 pm | BusinessDesk
Sept. 21 (BusinessDesk) – Wellington Drive Technologies Ltd., the manufacturer of electric motors, raised $7.7 million in a share purchase plan and placement to professional investors at a 17% discount. More >>
Moody’s sees stable outlook for New Zealand banks
Tuesday, 21 September 2010, 12:01 pm | BusinessDesk
Sept. 21 (BusinessDesk) - The outlook for New Zealand’s banking system is stable, reflecting the steady recovery from a mild recessions and improved GDP growth, according to a report by international credit ratings agency Moody’s Investor Service. More >>
ING Medical eyes A$152M Australian health trust
Tuesday, 21 September 2010, 11:34 am | BusinessDesk
Sept. 21 (BusinessDesk) - ING Medical Properties Trust said it is conducting due diligence on an Australian health clinic investor that would almost double the size of its property portfolio. More >>
OceanaGold needs US$140M to complete Didipio mine
Tuesday, 21 September 2010, 11:14 am | BusinessDesk
Sept. 21 (BusinessDesk) – OceanaGold Corp., operator the Macraes goldfield, said it needs to raise US$140 million to get its Didipio Gold-Copper Project in the Philippines operational, on top of the US$80 million already invested in the venture. More >>
Talley’s declares Affco offer unconditional
Tuesday, 21 September 2010, 10:52 am | BusinessDesk
Sept. 21 (BusinessDesk) – Talley’s Group declared its takeover offer for Affco Holding Ltd. unconditional and said it had acceptances amounting to almost 85% of the meat and dairy investment group. More >>
Restaurant Brands boosts 2Q sales as KFC performs
Tuesday, 21 September 2010, 10:10 am | BusinessDesk
Sept. 21 (BusinessDesk) – Restaurant Brands New Zealand Ltd., the fast food franchise owner, boosted second-quarter sales 3.7% on continued strong trading from its KFC stores. More >>
Economists trim forecasts for NZ growth: NZIER
Tuesday, 21 September 2010, 10:02 am | BusinessDesk
Sept. 21 (BusinessDesk) – Economists have wound back their expectations for New Zealand’s recovery, in step with the central bank’s view that it will raise interest rates at a slower pace to nurture a fragile economy. More >>
Stocks to watch: AIA, CAV, NZS, PRC, OGC, RBD, WHS
Tuesday, 21 September 2010, 9:32 am | BusinessDesk
Sept. 21 (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 drops to 5-mth low vs Australian dollar
Tuesday, 21 September 2010, 9:18 am | BusinessDesk
NZ dollar drops to 5-month low vs Aust as RBA’s Stevens upbeat on economy More >>
MARKET CLOSE: NZ shares rise; Cavalier leads
Monday, 20 September 2010, 5:29 pm | BusinessDesk
Sept. 20 (BusinessDesk) – New Zealand shares rose for a third session, led by Cavalier Corp. as investors speculated the carpet maker will get a jump in orders as Canterbury rebuilds after the earthquake. Pike River Coal fell after saying it needs more short-term ... More >>
Promising signs in Great South Basin
Monday, 20 September 2010, 4:30 pm | BusinessDesk
Sept. 20 (BusinessDesk) - Austrian oil explorer OMV and Greymouth Petroleum Ltd. gave a rare glimpse today into the improving state of knowledge about one of New Zealand’s most talked-up but under-explored offshore areas, the Great South Basin. More >>
Angel investors provide record funding in 1H 2010
Monday, 20 September 2010, 4:00 pm | BusinessDesk
Sept. 20 (BusinessDesk) – New Zealand angel investors, punting on young companies springboarding to high growth, have put a record $31 million into 35 deals during the first half of 2010. More >>
Kiwis become more upbeat about the future: survey
Monday, 20 September 2010, 3:50 pm | BusinessDesk
Sept. 20 (BusinessDesk) – New Zealand consumer confidence held its ground this month as kiwis indicated they feel gloomier right now but are more optimistic about the future. More >>
Kiwis lag behind Australians in savings
Monday, 20 September 2010, 3:20 pm | BusinessDesk
Sept. 20 (BusinessDesk) – New Zealanders have a pitiful rate of savings compared to Australia, where retirement saving is compulsory, but have become more concerned about the security of the investments, according to a RaboDirect survey. More >>
