Article – BusinessDesk

Feb. 15 (BusinessDesk) – The decision allowing sale of the Crafar dairy farms to Chinese investor Shanghai Pengxin has been set aside, with the High Court directing Ministers to reconsider the application. Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – Westfield Retail Trust, which was spun off from global shopping mall owner Westfield Group to take half ownership of its Australasian malls, has netted a pre-adjusted profit of A$91.7 million from its New Zealand properties. Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) –ASB Bank turned in a 23 percent improvement in cash net profit of $302 million in the six months to Dec. 31, compared with the same period a year earlier, the New Zealand bank’s Australian owner, Commonwealth Bank of Australia, … Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – The final legislative leg of regulations for finance companies, building societies and credit unions will stifle investment opportunities for retail investors and reduce the availability of credit for riskier ventures, according to … Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – Kirkcaldie & Stains, Wellington’s upscale department store owner, is mulling further property development while awaiting an offer for its unprofitable retail business. Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – Cavalier Corp, the carpet maker that is attempting to build a monopoly in wool scouring, said first-half profit tumbled 59 percent, meaning the company is unlikely to meet its full-year guidance. The shares dropped almost 9 percent … Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – AMP NZ Office said first-half net profit fell 28 percent to $20.4 million as rental income fell due to the sale of a building and the departure of major tenants. Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – New Zealand retail sales grew more than expected as people bought more at supermarkets and spent more on petrol in the final quarter of 2011. Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – Pyne Gould Corp, which has effectively been taken over by major shareholders George Kerr and Baker Street Capital, has appointed two new directors, Michael Tinkler and Russell Naylor to its board. Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – SkyCity Entertainment Group first-half profit jumped 17% to a record on improved earnings from its flagship Auckland casino and hotel complex, which benefitted from the Rugby World Cup and a turnaround in gaming revenue. Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – The International Container Lines Committee, which represents New Zealand’s shipping container sector, is concerned about the prospect of further strike action at Ports of Auckland. Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – The New Zealand dollar fell as further delays in Greece’s bailout package, weaker-than-expected retail sales and credit rating downgrades of nine European nations sapped risk sentiment. Read more »

Article – BusinessDesk

Feb. 15 (BusinessDesk) – Disappointing US retail sales in January weighed on stock markets on both sides of the Atlantic as investors await tomorrow’s deadline for the European Union’s verdict on Greece’s effort to secure a second bailout. Read more »

Article – Businesswire

Feb. 14 (BusinessDesk) – Pyne Gould Corp, which has effectively been taken over by major shareholders George Kerr and Baker Street Capital, has negotiated an $8.9 million exit from the management of Equity Partners Infrastructure Company No 1 (EPIC). Read more »

Article – Businesswire

Feb. 14 (BusinessDesk) – New Zealand home sales climbed by more than a quarter in January from the same month last year as the market gradually recovers momentum after an extended lull. Read more »

Article – Businesswire

Feb. 14 (BusinessDesk) – New Zealand shares fell, led by Mainfreight after the transport group posted quarterly earnings that missed some estimates. Air New Zealand and Freightways also declined. Read more »

Article – Businesswire

NZ dollar falls below 83 US cts as global optimism fades with Moody’s downgrades

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Article – BusinessDesk

Feb. 14 (BusinessDesk) – AMP Capital Investors (New Zealand), which manages $12 billion worth of assets, has increased bets on global growth, saying share valuations look attractive even in the face of Europe’s debt crisis. Read more »

Article – BusinessDesk

Feb. 14 (BusinessDesk) – Mainfreight, whose chief executive Don Braid was named Management magazine Executive of the Year in 2011, saw it shares punished today after the transport group posted earnings that missed estimates. Read more »

Article – BusinessDesk

Feb. 14 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, is seeking to block buyers of its regulated raw milk supply from outsourcing the first stage of processing, the Supreme Court heard today. Read more »